Should I just give my car to my aunt or make her pay me something?

So my grandparents bought my sister and I a house while we were in college.. after we both graduated the house was sold and my sister and I split the PROFIT made, which gave us each about 20,000.. with my share I bought a new car.. well.. a used new car.. i bought it in 2005 and its a 2003.. anyways.. my aunt wants my car for my 16 year old cousin.. Im getting my master's in april and my grandparents are getting me a new (used)car as a graduation gift (im lucky, i know) :) but i think my grandpa wants me to just give my car to my aunt for free.. what do you all think about this?



If you want to know, my car is a 03 Impala LS and I just did the KBB values for it and the private party value is 10,280 and the trade in value if 8, 550.Should I just give my car to my aunt or make her pay me something?
i would say just give it. in the first place you also get car that for nothing. it was the money from the house that is bought by you grandad. and now he wanted to get you a brand new car. the way i see it, you still have a car for nothing.

beside giving something especially to a family is good. you make them happy and i bet after you give that car you'll be happy too knowing that you make them happy.

cheers...!
ahh that's a very nice of you...well done and congratulation for your graduation and good luck in the future...!

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Should I just give my car to my aunt or make her pay me something?
um did you ask for the house? or did gramps just pay for it an was the money that was sold in profit suposta go back to gramps or was it a deal you an sis would split it . Me personaly i say give it to your cousin you really didnt pay for it gramps did an you are still getting a new car
well i think you should sell it for half the net value of the car. which is $4275 that way if your cousin is old enough to work she can save the money for the car. this will teach her a vaulable lesson in life. "YOU GET WHAT YOU WORK FOR." maybe you can discuss it over with your aunt on how to come about this matter.Should I just give my car to my aunt or make her pay me something?
u should let her have it butif shes rich sell it to her when she comes over have friends call and act like they want to bye it for way more than she is so she will rase the price
technically, your grandpa owns the car. if he wants you to give it away........

Should i pay my car off or use the money for down payment on new car?

I owe 2000 and the KBB value is 4400 for trade in. I have 4000 saved up and I am wondering if cash down payment says more than a car to trade in?Should i pay my car off or use the money for down payment on new car?
Paying off the car before trading it in or putting $2K down when you trade it in will acheive the same result.

Whether you should roll the 2000 into the new loan will depend on your loan interest rate.

If your new rate is lower, you may as well save your $2K and use your equity as the down payment.



If your new loan rate is higher, then put as much down as you possibly can to avoid future interest.Should i pay my car off or use the money for down payment on new car?
Use the money for a down payment! If KBB says your trade in value is $4400 you will most likely be offered $3000. Dealers will reduce the amount of trade to offset any price negotiation of the new car. Good Luck

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Can I trade in my used car for a cheaper one at the same dealership?

Hello. Six months ago, I purchased a 2008 Honda Accord. I owe $20,200 on it. Nada and KBB say the retail trade-in value is up to $19,775 for my model. I want to trade it in for a cheaper loan around $5,000, so it's easier to pay off in a short amount of time. Basically, I made a stupid decision and bought a car I can't afford. I also am determined to get completely out of debt.



What do I do? I do have $4K I could pay down on the loan prior to trading it in. Does that help me any? Or use the $4K to pay for the new-to-me car in cash?



HELP!Can I trade in my used car for a cheaper one at the same dealership?
Possible, but the only one who can say for sure is the dealership. Go talk to them.
Your $4K will be use to offset the negative equity on your current loan.

You can trade in the Accord, get about $16K for it, buy a 5K car, add the difference between your loan amount and trade-in ($4200) and then subtract your $4K down payment.



Unfortunately, you are so far underwater, the only way you can do it is with that $4K as a down payment. No lender will finance $9K on a vehicle work $5K, retail.



The end result will be you having a POS $5K vehicle and zero savings.Can I trade in my used car for a cheaper one at the same dealership?
If you really need to sell, your best bet would be to sell it privately and pay off the loan. You will get more money selling that way than if you trade it in.
If the deal is good for the dealership they will jump on it. But if they cant make a profit off your trade in then they wont touch it.Can I trade in my used car for a cheaper one at the same dealership?
Lol bet that dealer gave you the "it'll hold it's value forever, matter of fact some Hondas actually APPreciate!"(I've actually heard this lol) Pathetic.



Anyways, there's no way a dealer OF ALL PEOPLE will save you any money now that you've bought the car. I've had this same idea, and I've done my homework, as well as the fact I USED to sell cars.



Best bet, pay as much as you can every month to get a handle on the deficit(it's actually not that bad, most people are thousands upside down), take excellent care of the car, and when you DO trade it in again, don't let the dealer walk over you and offer you $3,000 for a $10,000 car.
Any car you get for $4k to $5k is going to be going into a shop quite frequently.

So you either have to pay your Accord payments or pay hefty repair bills.



You could put your $4k cash into paying down your loan and then refinancing the remaining $16,200 at a lower more affordable monthly payment.



Or you could sell the Accord private and use some of the $4k cash you have to pay the difference in selling price and what remains on the loan. Then go find a car you like and is more affordable for you and get a new loan.



I don't think you'd get anything but screwed over by trying to go back to the dealer where you bought the car and trade it for something cheaper. After all, they managed to sell you a car you can't afford already!

Used cars from a major dealership?

I was looking at a 2007 Nissan Altima at a Toyota dealership. The KBB value is $17,000. They had it listed for $18,900 and on sale for $15,600. The salesman claimed they bought it from Enterprise for $15,400. The trade-in value is $12,775.



Why would a car dealership pay this much for this car? Is this typical or is he pulling my leg and trying to rip me off??Used cars from a major dealership?
If you think he is bs'ing you about what they paid for the car, ask to see the auction slip, he will tell you to get lost, because that is the true amount they paid, plus auction fees.



It doesn't matter what the dealership paid for a car, they could have paid 10k or 20k...it has no bearing on what the car is worth.



Rental cars are subjected to the most severe driving, have little or no maintenance (ask to see maintenance records...they can't provide them) and if they were in a wreck the rental companies use the most shoddy and cheapest repair shops available. If they were taking care of the cars they rent, why would they dump them at 10-30k miles? They know that is the longest they can abuse them before they start to fall apart.



I worked for Hertz car sales, I personally seen the maintenance records of the cars they sold on their lots. 10k miles between oil changes were rare to find and that was the best cars they had, others had NO OIL CHANGES...they were the cars that were sold at dealer auctions, because Hertz knew they were ruined. Also, if a car had alot of body work- they would sell them at dealer auctions...they knew what kind of crappy and abused cars they had, I wouldn't even buy one of the best cars they had because they ruin new cars.
Buying cars that have come from a rental firm is sometimes risky.



You get drivers who say "I wonder what would happen if I thru the car in reverse while driving.



In other words they do to rental cars what they would never do to their own



If the dealer is going to give you a good warranty or you are able to buy a contract for the car then go ahead and buyUsed cars from a major dealership?
My suggestions is: Don't buy a car that was used for rental because they put a lot of mileage.

The value of a vehicle is based on year, make and mileage too. Look for another car.
Where are you getting your $12,775 figure from? Please don't say KBB. Current auction values list 2007 BASE Altimas for $14,000 or so depending on mileage.

How much did that Altima cost brand new? $22k-$25k? $15,400 is a good price for 1 year old. If you do comparison shopping I doubt you'll find many more at that price.

Besides, why do you care what a the dealer paid for the car. That's none of your concern as long as you BUY it at a fair price. It looks like you're getting a good deal so don't over complicate things.Used cars from a major dealership?
Usually when you buy a car from a different dealer than it's make they try to make you pay extra. I suggest buying a used Nissan Altima from a Nissan dealership.
I wouldn't take this car if it was free...don't you know what people do to rental cars?? I wouldn't worry about the KBB value..they are always way too high...try Edmunds.com or NADA.com and see what they have it listed at. There is no way they are going to sell you that car for $200 over cost..they would be out of business if they did that regularly. Find something else.
Believe me he is lying to you. They don't buy cars at trade-in value but thousands less. And why would you buy a previous rental car?
Dealerships buy cars from rental companies at auction in bulk.

You can get a brand spanking new Ford Fusion or Mazda 6 or Mazda 3 for that much money. All better than Altima

How much value should I expect from my trade-in?

I've struck a deal with 2 dealerships for a new SUV (great price). Now comes my trade-in appraisal today. It's an '04 Accord DX that was in a minor accident (body shop had to replace the driver's door....that's it). Looks GREAT and is easily in excellent condition with low miles (31K). Using Edmunds, NADA and KBB...the trade-in value for this car in "good" condition ranges from $9900 (KBB) to $11800 (NADA). I owe $10,600 on the car. My goal is pay-off and the deal we've made for the new one.



Is that a reasonable goal? Could I do better? Should the simple body-shop work done (by some of the best in town) really hurt the value. It's a GREAT car in GREAT shape.How much value should I expect from my trade-in?
If it's in excellent shape, and the door was done properly, you should be able to get between 9-10k. Dont' expect anymore unless they are using money from the new car. But that's about all it's worth.



That is wholesale value, retail would be a couple thousand more.
Best thing to do to get the most value out of it is to fix the damage. Then do the trade in. Car's value drop greatly when damage and as the years goes by.



First get an estimate for damage, then compare the trade-in blue book value.



Hope you get the best deal.How much value should I expect from my trade-in?
Be prepared for a "low-ball" offer from the dealer, and difficult negotiations. This is one of the ways they make money, by ripping people off on their trade in car.
Yes the body work and door replacement could hurt the value of the car. Hondas have VIN# decals on each body panel. Look in the trunk, under hood, on each door, etc. The appraiser will be able to tell that the door is rehung and likely lower the figure.



If the car looks as great as you say, I would go with a private sale on the Honda. You will get more much more money. If the retail price of the car is 11,800, expect to get an offer of about 7,000 from the dealer.



I'd be sure not to do the same thing with the new SUV that you did with the Honda. You may have gotten into a scenario of reverse amortization. That is, you owe more than the car is worth. Be careful because this can really tie you hands in the future.How much value should I expect from my trade-in?
I should warn you, you WON'T get what you owe for it. A dealer will never pay as much as the customer owes on a vehicle. Trust me, I sell cars and hate it. Typically, dealers will give you about 65% of kbb value. Be smart, don't get screwed. Don't fall for the "up to?s" or the "if you had to"s. They don't care about you, they just want your money and they're gonna sell your trade for twice what they gave you for it. Give em hell until you feel like you won.

Can we trade in a just bought used car?

We just bought a used car 7 days ago. We didn't think we would get approved for a loan, and when we (my husband and I) did we jumped too soon. Our loan was for 6000 +1800 warranty + dealer fees. We put 1500 down. We have not made any payments on the car yet. The car we purchased is right in line with KBB pricing. We want to trade it in on monday for a car that makes more sense for us (more practical for winters, as the one we just bought is a stupid little hatchback) the car we want is listed for 6400. We only have another 500 we can put towards all this crap we have caused ourselves. We just want out of this car! Is this possible at all?



Our current car is a 2005 suzuki reno hatchback s, and the car we want is a 2003 pontiac grand am 4 door gt



If we drop the warranty on our current car, can we trade it in for the new car? The dealership we bought from is family owned, and they said they would give us the best trade in value they could.



We made a terrible rash mistake, please help! We really hate this car, and made a terrible mistake!!!Can we trade in a just bought used car?
you can trade it in but you will lost a ton of money
You set yourself up allright. $1800 for a warranty? Between that and the fact nobody pays KBB or any other "book" price, you paid way too much. Now you want to trade it and take another beating. By the way....check the reviews on the Pontiac. They aren't that great and the brand is now out of production. Keep the Suzuki for a while (after you drop the warranty) and then trade it off. And next time....THINK before you act.Can we trade in a just bought used car?
Yes, you CAN trade it but it will be VERY costly. They will only give you wholesale for your car but you will pay retail for whatever you buy.



Plus the title %26amp; paperwork fees will be lost.



You MAY be able to drop the warranty and you probably should because they are a huge waste of money. (Many don't pay for repairs you think are covered)



Bottom line, you are going to lose $1500-2500 by trading.



No dealer works for free.
Yes you can but most likely the dealer will want to make money off it. Also most extended warranties have a 30 day cancellation period. Read your paperwork.Can we trade in a just bought used car?
You'll probably have to live with this car, since your trade-in value will probably be about $3000 for that Suzuki and your math will tell you that $3000 + $500 does not = $6400, which is about $3000 more than the Pontiac really costs, but would only get laughed at by the dealer if you offered that much for it...



But, you should drop the warranty anyway. If those warranties weren't such garbage, that would be one thing, but evidently people do not use them too much, sine these warranties are known to be pure profit for a dealer for the most part.
Ask the dealer if they can transfer the loan to the other car and return it

Will a dealer buy out my financed car?

Well here is my situation. I financed a used 03 nissan maxima approx 2 yrs ago, since then have payed back more than half of the total amount i financed, the cars kbb trade in value right now is $9,915 and i owe about $300 less than that, would any dealer take the car and pay off the balance of the loan. im not looking to make any money just looking to get rid of the loan...Will a dealer buy out my financed car?
If you are trading the car in for a new car, YES they will pay off the loan as part of the financial transaction for the new car.



If you are just trying to SELL them your car for cash, they won't offer you anything close to the trade in value for it.Will a dealer buy out my financed car?
only if they can make money on it. go back to KBB and look at whole sale. that's what a dealer might give you for you car. you might be better off putting it on craigslist or eBay.Will a dealer buy out my financed car?
just ask them.

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