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Discussion Starter #1
I am on the verge of trading in my 2002 5 speed Altima with 60,000 miles for a 2002 Lexus IS 300 with 18,000 miles. I can get the Lexus for about $450/month. Is this a good deal or am I getting shafted?
 

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Discussion Starter #3
I think it's steep too but according to them I have negative equity on my ride. They told me that my car's trade in value was about 11 g's according to kelly bb and I told them they were full of shit.
 

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for $450 a month for 5 years you can get a new lexus is 300, i see used IS 300 sitting at the dealership for $28000 and those people who buy it are idiots.

1. When you go to the dealer to get a new car get an Etch kit, it sells for $29, but dealers always charge you $300-900 for it.
2. Bring 3 different credit reports
3. Apply for a capital one auto finance, not with the dealership finance company.
4. Buy extended warrenty online, instead of the dealer.
I have personally found brand new IS 300's for $25XXX, you're getting ripped.
 

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You should first ask yourself, why you're trading in your car after only 2 years (and a lot of miles)? If you trade in your car so soon with so many miles, you're going to get screwed anyway you look at it. As for trade in price, I wouldn't expect anything more then $13,500.
 

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$450/mo...for how many months? We're all assuming 5 years, but maybe its not?

Any dealer is going to lowball you on the trade...they often make more money on used cars than new ones because they get to dictate their purchase price on the used car and then jack it way up. You could do better I'm sure, but why get rid of it? Problems or just bored? I'd say focus your financial efforts at paying off your car rather than plunking down an extra $50-100/mo on a different used car.
 

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Im assuming that $450 is a 5 year monthly note. I know that Lexus looks good and the milage on it is good, but for that amount of money you can find yourself something new for under 30K if your credit is good. Maxima Perhaps??????? I would keep looking.
 

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i wouldnt do it.. you're gunna get totally hosed.. and for what? a lexus? whoop.
 

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most of you have seen my thread about selling the G, and the fact that we were considering selling the Maxima too, if we could make some money on it. Well, even with low mileage and in as good condition as it's in, I'd only be looking at about $15K for it, which is $2K less than the buyout. So we'll be keeping that car for a while.
 

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Maybe not if he owes 4 grand more on the Altima than they're giving him in trade.

So whats the payoff on the Altima anyway?
 

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Discussion Starter #18
I still owe about 15 g's on the altima and they said that the trade in value would be about 11 g's, but that is not an issue because they told me they would pay off the balanceof the car. So at this point it looks like they are trying to pull one on me.

My Altima is great...i love the car...but its only been about two years and it already has 60,000 miles on it and its reapir sheet is longer than I am tall. It seems like every month there is a new noise coming out or there is a new recall that has to be performed so I am thinking that this car is not going to last me much longer.

I need to get something that has little to no mileage on it that will last me at least 5 years without having to do major repairs so I figured the Lexus to be a very reliable car but for $450/month for 72 MONTHS I am starting to wonder.
 

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Discussion Starter #19
Let me crunch some #'s

$21,000 asking price + $4000 tax, title, liscense, blah blah blah

that comes out to $25,000

now I figure interest rate of about 8%

that would be an additional $2000/ year for 5 years

that comes out to $25,000 + $10,000 = $35,000 after its all said and done.

$35,000 divided by 72 months =

$486.11/month

my math could be flawed...especially in the interest rate portion...but does that make sense???
 
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