Any Car Salesman Here?

[Zoous]

I had a car that I was still paying off and the blue book value is less than auto loan. I was paying more money than what the car was presently worth. Can the car dealer use the difference in book value be added to the capitalization cost for a new car lease or am I getting ripped off by having the dealer take the car without getting anything for it?

 

[REEF MANIA]

You would be better off selling the car on you own privately. Good Luck

 

[crox99]

Well I would try to have the dealer to not have the difference between the KBB and the loan balance put into the new car. If you can do that you are ahead of the game.

 

[NYreefNoob]

is the pay off now more than the kbb ? not trade in value but value of if you sell it independently ? dealer's have a padded price they buy car's for to cover if the cr need's anything, brake's, tire's ect, they can't or atleast our dealership won't sell a car that need's stuff, they also have the pad price for it they have to sit on the car for a period of time, them paying the car off is a loan to a degree for them, they are putting money out that has no guarentee of return, and look to maybe take a loss if it goes to a whole sell auction. only way you might get what the car is worth is to sell it yourself, most people buying a car that the amount is more than they have cash, dont buy it from a private seller. they buy from a used car lot or dealer so they can get help in financing, hope this help's. if you would lke i can give you a number to our dealership and let you speak to our sales manager and see if the price is really in realm of what they are offering