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View Full Version : My Dealers wants to buy back my car. Should I go for it?

captainm27
04-30-2010, 09:48 PM
So I got this email from my dealership. I bought my car in June 2008 at $16,900. Today, I am down to $5300 left on the car. What do you guys think? How much is 110% NADA of my car? I have the Yaris Sedan w/ Automatic, 31,000 miles.

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Hi LIVIU MOROVAN,

This is extended through Saturday May 1,2010. We will have 3 different wholesale companies on site bidding on your trade-in.This will maximize what you receive for your trade.

This is a follow up to a letter you should have received in the mail:

Toyota Universe in Little Falls,NJ is offering 110% of N.A.D.A trade-in value for you current vehicle whether leased or purchased. As a recipient of this letter,you have been selected to receive the benefits of this Private Trade-up offer.

ONLY PREVIOUS TOYOTA UNIVERSE CUSTOMERS AND A SELECT GROUP OF LOCAL RESIDENTS QUALIFY FOR THIS UNIQUE PROGRAM.

We need to acquire a large quantity of pre-owned vehicles by Friday, April 30th, 2010 in order to fulfill special vehicle requests. Our event Manager has been authorized to buy back your current vehicle for 110% of N.A.D.A. trade-in value. Remember, before you make your next lease or purchase payment,please give us the opportunity to buy back your current vehicle.When you trade in your current vehicle and purchase any new Toyota or Certified pre-owned vehicle, you qualify for the following:

*YOU WILL NOT HAVE TO PAY EARLY TERMINATION FEES.

*YOU WILL NOT HAVE TO PAY YOUR BANK FOR EXCESS MILEAGE.

*YOU WILL NOT HAVE TO PAY YOUR BANK FOR EXCESS WEAR AND TEAR.

We would like to exchange your vehicle for any new 2010/11 Toyota or certified pre-owned Toyota, or any other pre-owned vehicle in stock.

With current factory incentives which include financing as low as 0% APR up to 60 months or rebates up to $5,000 and our high trade-in value, we feel confident that you can make this exchange with little or no money down and a monthly payment that fits your budget. You give us the key to your old vehicle and we will give you the keys to your new Toyota,certified pre-owned Toyota or any other pre-owned vehicle on our lot. Enjoy the buying experience of a lifetime at Toyota Universe and save more than you ever dreamed of. Join us now through Friday,April 30th,2010.You owe it to yourself.

Please present this letter for your free appraisal, regardless of the make, model or year of your vehicle. Please call our special event hotline at 888-479-6433 or just stop in at the time that is convenient for you and allow us the opportunity to make you an offer.

THIS EVENT WILL NOT BE ADVERTISED TO THE GENERAL PUBLIC. THIS WILL BE YOUR ONLY NOTIFICATION.

The combination of our highest trade-in offers of the season and 2010/11 Factory incentives on Toyota vehicles will save you a significant amount of money during this limited time offer.You cannot afford to miss this event.

These offers are only valid, now through Friday,April 30th:.Buy-Back specialists will be on-site appraising vehicles at the following times: 9 AM-9PM,Monday thru Friday & 9 AM-7:30PM on Saturdays.




Rob Waldo
Internet Sales Manager
Toyota Scion Universe
973-785-4710 x297
CarBob08
04-30-2010, 09:53 PM
To get the NADA price on your car, go here: http://www.nadaguides.com/
Are you really wanting to get rid of your car?

NADA says $9350 on trade-in, unless you have power windows/locks and cruise, then a bit higher. But, if you don't, the dealership is willing to give you $9350 +10% for a total of about $10285 for your trade.
SilverBack
04-30-2010, 10:06 PM
IMO by going through with this you've pretty much shelled-out your hard-earned $10K+ in payments for a car that you're giving up for something that's probably gonna cost you more in final price, gas, insurance, and maintenance, etc.

Keep the Yaris. If I learned anything from dealerships is that their gonna screw you over any way they can. Best to just give them the finger and keep the car as long it remains reliable and cheap to maintain (which I have reason to believe it will long after you paid it off). Why mess-up a good thing? :smile:
captainm27
04-30-2010, 10:06 PM
Yeah.....I think I am better off keeping my car. Though, if I were to actually trade a car in, I would get the same one.
captainm27
04-30-2010, 10:08 PM
Best to just give them the finger and keep the car as long it remains reliable and cheap to maintain :smile:

:laughabove::laughabove::laughabove: I had a chuckle when I read that. Thanks.
CarBob08
04-30-2010, 10:13 PM
I vote for keep your current car!!
TEHxFALLEN V1.2
04-30-2010, 10:19 PM
Ask them if they're willing to give you an IS-F for your Yaris.

I'd make that trade in a heartbeat lol!!
WeeYari
04-30-2010, 10:24 PM
Somewhere on here there is an identical post from awhile back. Exact same letter was posted.

I'm willing to bet that if you went for it, in 2012 you'd get another letter just like this one. IMO, it's a dealership stunt to move inventory and keep you shelling out your hard earned money. KEEP THE CAR!!
bronsin
04-30-2010, 10:48 PM
Sounds like a total BS story from the dealer.
JumpmanYaris
04-30-2010, 10:50 PM
I actually Got the same letter from our local Toyota dealership 2 TIMES!!! but I keep me car

They aint gonna pay me for the time i put into it and mods so Yes they can get the middle finger:middlefinger:
YarisSedan
04-30-2010, 11:53 PM
I used to work at a dealer in sales department years ago. You havent been preselected its sent out to lots of people. Its a way to get some certified preowned cars. Take your car dump back on lot and make more money on it. And then get you in another car that they are going to make money on you again. Its win win for them and loose loose for you.
captainm27
04-30-2010, 11:57 PM
Wow, YarisSedan, I think you said it perfectly. You are correct. It's lose lose for me. Thank you.
kuyachris84
05-01-2010, 12:50 AM
yup... don't do it!
djct_watt
05-01-2010, 02:04 AM
Just a marketing/sales pitch. . .
And an FYI, NADA is THE most conservative of car evaluation tools. It will never give you anything even remotely close to market price, especially if it is trade-in price. LOL.
RedRide
05-01-2010, 02:58 AM
Yup, it's just an old marketing gimmick.
nemelek
05-01-2010, 08:54 AM
I once had an offer similar to yours. Dodge was offering %125 of NADA. There is no free lunch. They wanted $1,500 fee to run their service check. Although there was only 15k miles and the truck was serviced by Dodge they wouldn't wave that fee. A door ding was $500.
swidd
05-01-2010, 11:42 AM
Dude, once paid off, you can drive for 'practically free' with the Yaris. I've had mine paid off for a year now, and gas for commuting only costs pocket change $50/month, insurance is $310/year, 2 oil changes comes to about $120/year. And THAT'S IT.

basic annual cost of owning and operating my yaris payment free ~$730!
why?
05-01-2010, 12:17 PM
Dude, once paid off, you can drive for 'practically free' with the Yaris. I've had mine paid off for a year now, and gas for commuting only costs pocket change $50/month, insurance is $310/year, 2 oil changes comes to about $120/year. And THAT'S IT.

basic annual cost of owning and operating my yaris payment free ~$730!

you must be older, because what i pay is at least twice as much as you.
captainm27
05-01-2010, 02:10 PM
Ok, so all of you pretty much convinced me that this scam is just that, a scam. Thank you all for your inputs. I wonder what other creative ways dealers will try to sap us in. Who knows?

"No payments for 3 years!!!!........(then in fine print) "Whatever is left of the balance has to be paid in one full installment."
Yoda
05-01-2010, 02:26 PM
Don't do it, i got a similar letter. They wanted me to trade in my car and run a credit check to see if a qualify for a new car at lower rates. They are not there to help you but only to make more money off you. They even said no payments for 1 year and free service for two years... I lol when i started reading the fine print. Don't be fooled!!!
swidd
05-01-2010, 06:48 PM
you must be older, because what i pay is at least twice as much as you.

25 =)
YarisSedan
05-01-2010, 10:50 PM
They are looking for the type of person who looks at a car as jsut a payment. Some people go well if i can get into a new car for the same payment as i was before or even less why not? They dont realize how much money they are throwing away. All the taxes fees and registration ends up being thousands on top of the original purchase price which you wont get back when you trade it in.
why?
05-01-2010, 11:29 PM
25 =)

damn! i pay 4 times as much down here for insurance. grrr...
bronsin
05-02-2010, 02:05 PM
I wonder what other creative ways dealers will try to sap us in. Who knows?

."

I just throw those form letters from the dealer in the trash unopened.
captainm27
05-02-2010, 02:45 PM
They are looking for the type of person who looks at a car as jsut a payment. Some people go well if i can get into a new car for the same payment as i was before or even less why not? They dont realize how much money they are throwing away. All the taxes fees and registration ends up being thousands on top of the original purchase price which you wont get back when you trade it in.

This is what people who lease a car do. I never liked the idea of spending thousands on something that will never be mine.
cali yaris
05-02-2010, 02:54 PM
+1
swidd
05-03-2010, 12:57 AM
If I was going to lease a car, it would be on a fine luxury car only. Gotta improve the odds of attracting those girls somehow. My looks don't cut it.
birdman
05-30-2010, 03:42 AM
these cars can run for a zillion miles. So why trade them unless money is no object?