Trade-in offer for my GT4: thoughts?
01-15-2019, 07:45 PM
#1
Rennlist Member
Thread Starter
Trade-in offer for my GT4: thoughts?
I recently scooped up a nice GT4, and I freaking love the car. But, in order to qualify for a new mortgage and keep my old house as a rental, I need to shed some debt. I will have a renter in my old place paying 10% more than my mortgage+taxes, but apparently the mortgage underwriter deducts 30% off the gross rental income, which puts a bit of debt on my books. That, in conjunction with an zero-balance HELOC (which is counted as debt whether I owe money or not) pushes me toward a slightly riskier rate. Being conservative, I don't mind shedding the GT4 and getting another down the line. I really want to keep this house as an investment; I figure I will net $20k a year after fees and deductions, and that assumes no asset appreciation. This is a popular area and I expect housing to appreciate long-term: the average rate is 5.1% from 2003 till now. A few years of that, and I can buy whatever GT4 is current at the time!
Anyways, I just dropped by Park Place Porsche; what do you think of this trade-in offer?
2016 GT4
$104k build
full leather
9,700 miles
buckets (super clean! no bolster wear)
Existing CPO. No overrevs.
Good tires, no issues, full front end clear bra, no rock chips, just detailed: showroom ready the same hour I drop it off.
Offer is $70k. Does that sound right?
Anyways, I just dropped by Park Place Porsche; what do you think of this trade-in offer?
2016 GT4
$104k build
full leather
9,700 miles
buckets (super clean! no bolster wear)
Existing CPO. No overrevs.
Good tires, no issues, full front end clear bra, no rock chips, just detailed: showroom ready the same hour I drop it off.
Offer is $70k. Does that sound right?
Last edited by Kg11; 01-15-2019 at 09:15 PM.
01-15-2019, 08:10 PM
#3
Burning Brakes
That’s not a low ball offer - it’s an insult.
As a data point I was considering trading in my 2016 Cayman GTS, 15K miles, clean, $90K build and was offered $68.5K. That offer was made in October and my car needed rear tires and was due for its 2 year service.
As a data point I was considering trading in my 2016 Cayman GTS, 15K miles, clean, $90K build and was offered $68.5K. That offer was made in October and my car needed rear tires and was due for its 2 year service.
01-15-2019, 08:52 PM
#7
Rennlist Member
Thread Starter
Trending Topics
01-15-2019, 08:59 PM
#8
Something doesn't sound right. You need to unload to get your finances in order. Sounds more like "what would you buy it for?" to me.
If I had to make a guess their # would include CPO cost, replacing tires (they don't want old tires regardless of tread depth), windshield (any minor blemish/ding/chip counts against), rotors (visible cracks - rotors are known for that), etc, etc, etc.
As is typical with trade ins option never figure into the # on trade in but get hyped on resell.
$0.02
Sounds like ou bought it used all ready but are looking to base your #s on MSRP. What was the difference when you bought it? Thats what you should base it on.
If I had to make a guess their # would include CPO cost, replacing tires (they don't want old tires regardless of tread depth), windshield (any minor blemish/ding/chip counts against), rotors (visible cracks - rotors are known for that), etc, etc, etc.
As is typical with trade ins option never figure into the # on trade in but get hyped on resell.
$0.02
Sounds like ou bought it used all ready but are looking to base your #s on MSRP. What was the difference when you bought it? Thats what you should base it on.
01-15-2019, 09:03 PM
#10
Rennlist Member
I want to say a forum member just got around 85k for his 25k mile ~110k MSRP car. I was offered ~90k on my 111k MSRP car with 10k miles.
01-15-2019, 09:08 PM
#11
Rennlist Member
Thread Starter
Something doesn't sound right. You need to unload to get your finances in order. Sounds more like "what would you buy it for?" to me.
If I had to make a guess their # would include CPO cost, replacing tires (they don't want old tires regardless of tread depth), windshield (any minor blemish/ding/chip counts against), rotors (visible cracks - rotors are known for that), etc, etc, etc.
As is typical with trade ins option never figure into the # on trade in but get hyped on resell.
$0.02
Sounds like ou bought it used all ready but are looking to base your #s on MSRP. What was the difference when you bought it? Thats what you should base it on.
If I had to make a guess their # would include CPO cost, replacing tires (they don't want old tires regardless of tread depth), windshield (any minor blemish/ding/chip counts against), rotors (visible cracks - rotors are known for that), etc, etc, etc.
As is typical with trade ins option never figure into the # on trade in but get hyped on resell.
$0.02
Sounds like ou bought it used all ready but are looking to base your #s on MSRP. What was the difference when you bought it? Thats what you should base it on.
The same dealer has the same car, but with a 6,000 fewer miles, priced at $102,900.
I can unload the car here in 2 weeks for $85k. Heck, I got an offer above for $5k more, just in this thread!!!!
BAT brings $80k minimum with a clean Overrev.
Perhaps they are just used to dealing with rich idiots who could care less about trade-in values?
01-15-2019, 09:09 PM
#12
Rennlist Member
Thread Starter
01-15-2019, 09:10 PM
#13
Rennlist Member
Thread Starter
Yeah, I think I can sell it here for $85k without too much trouble! $70k is silly: the Spyder 981 that was posted F/S in another thread here on the 10th at $71k had 41,000 miles, barely any info, and he had people lining up to take the car off his hands!
