How well does Lexus allow upside down from trade?
#1
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How well does Lexus allow upside down from trade?
I am considering trading in my 9 month old G35 Sedan 6mt for a IS300 or GS400-430. I am sick of the service bs and have never been treated so bad. I have a seriously bad syncro in my 6th gear, and the dealer is giving me hell to replace the tranny. Making up excuses, etc.
I owe 35k still on it, its worth might be around 27k or so.
I will consider a used GS430-400 or a new IS300.
Any advice would be great guys. Located in SA, TX
I owe 35k still on it, its worth might be around 27k or so.
I will consider a used GS430-400 or a new IS300.
Any advice would be great guys. Located in SA, TX
#2
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Re: How well does Lexus allow upside down from trade?
Originally posted by G35_TX
I am considering trading in my 9 month old G35 Sedan 6mt for a IS300 or GS400-430. I am sick of the service bs and have never been treated so bad. I have a seriously bad syncro in my 6th gear, and the dealer is giving me hell to replace the tranny. Making up excuses, etc.
I owe 35k still on it, its worth might be around 27k or so.
I will consider a used GS430-400 or a new IS300.
Any advice would be great guys. Located in SA, TX
I am considering trading in my 9 month old G35 Sedan 6mt for a IS300 or GS400-430. I am sick of the service bs and have never been treated so bad. I have a seriously bad syncro in my 6th gear, and the dealer is giving me hell to replace the tranny. Making up excuses, etc.
I owe 35k still on it, its worth might be around 27k or so.
I will consider a used GS430-400 or a new IS300.
Any advice would be great guys. Located in SA, TX
Financing rates are very low for Tier 1 credit with Lexus so that will help your upside down negative equity. I want to say new IS 300s are 3.9% and new ones can be had for like 30k loaded.
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well my guy works at sterling mchaul? i think thats how u spell the last name ( 59 and beltway) .... he hooked us up on the little stuff like free touch up paint bottle, free cargo trunk nets, free stuff..oh did i mention he gave my family great deals on the price for our cars, we've bought from him 3 lexus for my family and have helped him sell 3 more. i would be more than happy to meet u up and do a little test driving, open the 400 up on the freeway and u will never go back.
oops i totally missed that... u live in SA hahhaa sorry...but to save a few thousand is worth the drive to houston isnt it?
oops i totally missed that... u live in SA hahhaa sorry...but to save a few thousand is worth the drive to houston isnt it?
Last edited by joshoowa; 10-11-04 at 06:41 PM.
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Originally posted by joshoowa
well my guy works at sterling mchaul? i think thats how u spell the last name ( 59 and beltway) .... he hooked us up on the little stuff like free touch up paint bottle, free cargo trunk nets, free stuff..oh did i mention he gave my family great deals on the price for our cars, we've bought from him 3 lexus for my family and have helped him sell 3 more. i would be more than happy to meet u up and do a little test driving, open the 400 up on the freeway and u will never go back.
oops i totally missed that... u live in SA hahhaa sorry...but to save a few thousand is worth the drive to houston isnt it?
well my guy works at sterling mchaul? i think thats how u spell the last name ( 59 and beltway) .... he hooked us up on the little stuff like free touch up paint bottle, free cargo trunk nets, free stuff..oh did i mention he gave my family great deals on the price for our cars, we've bought from him 3 lexus for my family and have helped him sell 3 more. i would be more than happy to meet u up and do a little test driving, open the 400 up on the freeway and u will never go back.
oops i totally missed that... u live in SA hahhaa sorry...but to save a few thousand is worth the drive to houston isnt it?
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#8
It ain't worth it
My input after being young and restless...
From the age of 21 through 36, I went through 18 cars. In some years I changed cars more often than toothbrushes. My tendacy to change was always based on "solid reasoning" but in reality, it was always because I wanted something else and because the thrill had worn off. Be honest with yourself here.
If your upside down on your current car, you will only increase that negative position when you purchase your next car through a dealer. So now you got $7K plus the dealer profit/taxes on your new ride. Man, between your increased payments, extended finance term, feeling bad that you've increased your debt, etc. - it just ain't worth it (my opinion having been there and done that).
If you are shopping a dealer due to more aggressive/longer financing terms - that's like a drug. Get off of it and go find a bank and/or credit union that will give you loan. If you can't get financing outside of a dealer than rethink this whole swapping car thing. If you can find independent financing, then you've bought yourself some freedom and negotiating power on the used market. Take your time and find a deal where you absolutely will not add to your debt; i.e. a 3 year old car that you buy, at a minimum, at trade value or less. Anything newer than 3 years old and chances are your depreciation cost will outrun your ability to pay down the debt (again, creating negative equity in your new ride - not to mention the $7K your bringing over).
$7K is no chump change and the goal is to get rid of that negative equity - not add to it. If you buy from a dealer, you will create more negative equity as a result of their profit and taxes (in GA taxes are not paid when buying from an individual).
Good luck,
Eric
From the age of 21 through 36, I went through 18 cars. In some years I changed cars more often than toothbrushes. My tendacy to change was always based on "solid reasoning" but in reality, it was always because I wanted something else and because the thrill had worn off. Be honest with yourself here.
If your upside down on your current car, you will only increase that negative position when you purchase your next car through a dealer. So now you got $7K plus the dealer profit/taxes on your new ride. Man, between your increased payments, extended finance term, feeling bad that you've increased your debt, etc. - it just ain't worth it (my opinion having been there and done that).
If you are shopping a dealer due to more aggressive/longer financing terms - that's like a drug. Get off of it and go find a bank and/or credit union that will give you loan. If you can't get financing outside of a dealer than rethink this whole swapping car thing. If you can find independent financing, then you've bought yourself some freedom and negotiating power on the used market. Take your time and find a deal where you absolutely will not add to your debt; i.e. a 3 year old car that you buy, at a minimum, at trade value or less. Anything newer than 3 years old and chances are your depreciation cost will outrun your ability to pay down the debt (again, creating negative equity in your new ride - not to mention the $7K your bringing over).
$7K is no chump change and the goal is to get rid of that negative equity - not add to it. If you buy from a dealer, you will create more negative equity as a result of their profit and taxes (in GA taxes are not paid when buying from an individual).
Good luck,
Eric
#9
G35 TX
I work for Hoy Fox Acura/Infinit/Mercedes/Volkswagen/Volvo in El Paso TX. Our sister Hoy Fox store does Toyotal/Lexus. If you are looking for a new GS or IS I can put you in touch with people over there that can take care of you. As far as your trade is concerned $27K is way too high since 2004 G35 Sedans with both the sport and premium package retail used for around $26K. If you are having problems with one dealership go to another and tell them about your problems and be very specific. Unless you are willing to put a serious amount of cash down then you'll take a serious hit when you trade in and you'll be paying way too much for your new Lexus. If you have any questions please feel free to call me but I"m telling you now that to trade in is going to hurt in a big way.
Seth James
Internet Sales Manager Hoy Fox World Automotive
915-775-8585
Seth James
Internet Sales Manager Hoy Fox World Automotive
915-775-8585
#10
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Thanks SHO for the info.
I got a call a little while ago from the dealer. It seems now after our fight last night they are going to replace the tranny for real this time. They drove another 6mt on the lot, and it didn't have the same problems. Like I told them it wouldn't. But it took a week of argueing with them, over 300 miles of test drives to convince them. I am not happy and definitely will be giving them a bad review. But at least the car is getting fixed, and I will keep it until it happens again if it does. Next problem however will go to another dealership 100 miles away to be fixed.
I got a call a little while ago from the dealer. It seems now after our fight last night they are going to replace the tranny for real this time. They drove another 6mt on the lot, and it didn't have the same problems. Like I told them it wouldn't. But it took a week of argueing with them, over 300 miles of test drives to convince them. I am not happy and definitely will be giving them a bad review. But at least the car is getting fixed, and I will keep it until it happens again if it does. Next problem however will go to another dealership 100 miles away to be fixed.
#12
Lexus Test Driver
G35 dude...I had an 03 maxima, automatic tho...tranny went kaput at 11k (driving it like I stole it didn't help much) they replaced with brand new crated one, and it started slippin at 14k.
I said enough's enough and bit the bullet, traded in on my 00 GS400 with NO REGRETS. Yeah I lost my shirt on the car, as the maxima and G35 both have sad resale values.
Do what you feel is comfortable for you. Negative equity sux (been down that river 4X now) but a car that you are payin out the *** for sux even more.
IMO an IS300 is a MAJOR step DOWN. I'd go from a G35 to a 400 or 430 and nothin less.
To go from ~265hp to ~200hp is crazy IMO. You'll be MUCH happier with the added room of the GS, added luxury and 300 hp that it provides
good luck!
I said enough's enough and bit the bullet, traded in on my 00 GS400 with NO REGRETS. Yeah I lost my shirt on the car, as the maxima and G35 both have sad resale values.
Do what you feel is comfortable for you. Negative equity sux (been down that river 4X now) but a car that you are payin out the *** for sux even more.
IMO an IS300 is a MAJOR step DOWN. I'd go from a G35 to a 400 or 430 and nothin less.
To go from ~265hp to ~200hp is crazy IMO. You'll be MUCH happier with the added room of the GS, added luxury and 300 hp that it provides
good luck!
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