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Trade-in offer for my GT4: thoughts?

 
Old 01-15-2019, 08:45 PM
  #1  
Kg11
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Default 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?

Last edited by Kg11; 01-15-2019 at 10:15 PM.
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Old 01-15-2019, 08:51 PM
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venom51
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Nope...that's a lowball offer...
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Old 01-15-2019, 09:10 PM
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Jim137a
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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.
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Old 01-15-2019, 09:12 PM
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4carl
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Retail is probably 90-95 a fire sale to dealer is 80 id push for 85. carl
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Old 01-15-2019, 09:26 PM
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85Gold
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I’ll give you $75k sight unseen.

Peter
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Old 01-15-2019, 09:50 PM
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Mr Michael B

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Well they have to keep the doors open too... But do they really need to make $15-$20k on every car?

I think they are ten grand off. Sorry.
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Old 01-15-2019, 09:52 PM
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Kg11
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Originally Posted by Mr Michael B View Post
Well they have to keep the doors open too... But do they really need to make $15-$20k on every car?

I think they are ten grand off. Sorry.
More like $25k on this one! It is CPO'd already.

Then again, they had 3 customers and about 20 people working the sales floor.
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Old 01-15-2019, 09:59 PM
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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

Originally Posted by Kg11 View Post
More like $25k on this one! It is CPO'd already.

Then again, they had 3 customers and about 20 people working the sales floor.
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.
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Old 01-15-2019, 10:01 PM
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Space Coast GT3
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Is that a trade in offer or a purchase from you offer? Either way, I agree... sounds like a way low offer.
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Old 01-15-2019, 10:03 PM
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Five12Free
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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.
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Old 01-15-2019, 10:08 PM
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Kg11
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Originally Posted by ExMB View Post
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.
MSRP is $104k. The car is CPO'd. Rear tires are good, but maybe at 5/32, might need replacing. No track time, brakes are great! Windshield is perfect; the car is basically perfect. I know the pricing is way off as the guy I bought it from got a trade-in price of $88k just 6 months ago. He didn't like the dealer he was buying his RS from and gave it to me for $89k. I get it; slow time of year, but $18,000 less in 6 months? I put 1,800 miles on her.

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?
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Old 01-15-2019, 10:09 PM
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Originally Posted by Space Coast GT3 View Post
Is that a trade in offer or a purchase from you offer? Either way, I agree... sounds like a way low offer.
it was one and the same.
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Old 01-15-2019, 10:10 PM
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Originally Posted by Five12Free View Post
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.
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!
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Old 01-15-2019, 10:13 PM
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Dr. Ferdinand
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Rape, sans the KY even!
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Old 01-15-2019, 10:28 PM
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Originally Posted by Five12Free View Post
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.
wow, how did you get to $111k with steel brakes?
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