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Did I finally get a good deal?

wmsmaker

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wmsmaker New Member

wmsmaker

Posted
Posted

Just picked up a new '17 Silverado 1500, 5.3, 2WD LT, Crew Cab, All Star & towing package.

 

Traded in a '14 Camry w/ 40k miles, blue booked at $9700 (In pretty good shape, needed new tires), they paid me $11.5k. I owed $12,500. Used $1500 GM Cash with $750 private offer. I walked out owing $33,500.

 

So if my math is right, I paid $29,200 for the truck (with stealership fees), plus $1500 in GA tax and 2800 from the true negative equity in the trade.

 

Did I do good? Or should I have held out a little more?

Dnt Senior Enthusiast

Dnt

Posted
Posted

I don't know we can do a bit of math I guess and see how bad they got you if you like?

Take the MSRP and take off 20% that should be the new trucks sale price. Example if MSRP was 42000 the sale price should be 33600 then take off the trade value of 11500 so you should have paid 22100 plus your sales taxes. Just not sure what your new trucks MSRP was?

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This is the right time of year to hit the great sales, that ad is from last year when I bought my 16 but if you look around you will see basically the same thing this year as I just bought my 17 at +20% off MSRP

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wmsmaker New Member

wmsmaker

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  • Author
Posted

MSRP is 44,380 w/ destination.

 

I paid about 29,200 for the truck

Add 1,500 for GA tax

Add on 2,800 in negative equity on the trade

 

33,500 is what I financed including what I was under on my trade.

 

So the truck was 35% off if I don't include GA tax.

Dnt Senior Enthusiast

Dnt

Posted
Posted

Now we are cooking with gas. Here we go $44,380.00 -20% = sale price of $35,504.00 now they gave you $11,500.00 for your trade so $35,504.00 minus trade value of $11,500.00 = $24,004.00 Now apparently they paid off some negative equity on your trade you got $11,500.00 and owed $12,500.00 so we need to add $1,000.00 to your cost now at $25,004.00 plus add Tax of $1,500.00 = $26,504 that is what you should have financed. Another way to look at it is that they only actually gave you around $4,500.00 for your trade. To get a really great deal you would probably have had to sell your old vehicle yourself and travel out of state and that would have added travel cost to the deal plus your time and trouble (maybe a thousand bucks?).....I would not dwell on it you did probably did better than the average Joe I would say. The car dealers are experts at the game especially when a trade is involved. Kind of what they do for a living. Enjoy your new truck.

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