Returning a Car

sequoias said:
I'm saying "buying at a fair price" meaning negoiate with the dealer, not the bank. :P I've seen rates from my own choice of bank can be lower interest rates, etc than what they offer with their own financing.
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Did you pay for the car in full ( cash ) you would have gotten a lot better deal on it then... When you buy a car from dealer finance you pay a little more than bank finance.
 
Babyblue said:
Did you pay for the car in full ( cash ) you would have gotten a lot better deal on it then... When you buy a car from dealer finance you pay a little more than bank finance.
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Of course, we all know that interest that we have to pay on the car loan, it's not free! Not many people save up several thousands to pay in full but I really wish I do. :P If you finance for a automobile loan, it would be few thousand dollars on interest....so for a house....wow!
 
sequoias said:
Of course, we all know that interest that we have to pay on the car loan, it's not free! Not many people save up several thousands to pay in full but I really wish I do. :P If you finance for a automobile loan, it would be few thousand dollars on interest....so for a house....wow!
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Yeah I was looking at a site on your 2000 Honda Civic EX coupe and the Value of it now being in Excellent condition is $9,600 it is not a bad price for a 2000 but that if your car is in "excellent condition" at 60 thousand miles though. I don't know how many miles you have on it now..

Kelley Blue Book - Select Condition - Honda, Civic
 
Yeah, generally Japanese branded cars hold their value pretty well and decrease slowly that's why it didn't drop much in price since 2006. I got it for $13,500 on May 2006 which I would have supposed to get it for around $11,700 if it wasn't for my stupid mistake.
 
sequoias said:
Well I bought it for around $2,000 more than what it was worth. It currently has 67,000 miles on it. It had about 39,900 miles on it on May 2006. It still runs great, just had to replace battery because it went bad (lifespan has ended on it).
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Why would you pay more than it's worth? If a car is priced more than it's worth, don't buy it. Keep shopping until you find one that is the right price for the right value. If you're not sure, check New Car Prices | Used Car Values - Official Kelley Blue Book Site .

Batteries can go bad in every and any car.
 
sequoias said:
I did not know how much it was worth, I had no idea until I found out later. Got it?
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Got it. :)

So you can't really blame the car salesman.

It's a lesson learned. We all make money mistakes.
 
Yup, the buyer's responsibility....I think there's is a three day buyer's remorse in which the buyer can return the car.....too bad Seq didn't realize his mistake within the three day period....
 
Want a Q&D method in finding out how much a new car loses its value once it is 'driven off the lot'? Look at the lease downpayment requirements; essentially, it's to cover the 'hidden' depreciation charge the car suffers once 'bought'. Of the lease terms I've been looking at for new cars, most of them on the low end, i.e., sedans, hatchbacks, the average downpayment was $4,000. Whoo. That's quite a chunk of change to incur just to have a brand new car! :(
 
Well, u can return any car u buy, it just has to be within 3 days without any fines. If it is over that, then it part of repo process. It hurts ur credit if it repo-ed, and still have to pay the difference. If it is under 3 days, then they will have to either fix the problem or get ur money back. If there is any fees for that, not sure, but I think not. Might just lose ur down payment and process fees.
 
Handsome_Smiley said:
Well, u can return any car u buy, it just has to be within 3 days without any fines. If it is over that, then it part of repo process. It hurts ur credit if it repo-ed, and still have to pay the difference. If it is under 3 days, then they will have to either fix the problem or get ur money back. If there is any fees for that, not sure, but I think not. Might just lose ur down payment and process fees.
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I heard that if you don't pay the car loan for 3-4 months and they will repo your car after that.
 
Ah.. that's how the dealers made money as usual.....remember the dealers buy thier cars at wholasale prices off from auto auctions which usually run good 2 to 5k bucks less than the retail prices once the dealer buy the car at wholesale price to put on his/her lot then mark it up at least good highest retail price most would jack up to 5k or more than what it worth depends on what kind and model of car... once the dealer sell the car to sucker most likely they made well over 2 to 8k bucks soon as a sucker drive off from thier lot ...

For the repossossion process, depend on where your state at following the state financical law at most once you signed the auto loan or contract which make clear that you promised to pay monthly payments that divided into the short or long term to be paid in full if you did not pay only one month payment or a day late after upto the ageement to pay, it automatically that you brenched (sp) the contract so they usually wait other month or 30 days to confirm that you really voilated thier contract if you still do not pay which would fell 2nd month behind then they start to process your contract to be on repossossion status then given to "repo sharks" they have two or three different recovery agencies after first day on repossossion status are all up to the recovery agencies to come by to pick the car up there are no tell when after 2nd month they will come after it anytime whenever fit em ... the reason why most finance companies or banks use more than one recovery agency to help em to speed up the process of repossossion for em to have the car on thier hand soon as possible that why I called them the "repo sharks" whoever pick the car first they got paid and these "repo sharks" get paid damn good money anywhere from $350 to $1500 bucks a pop these recovery fees plus the amount of loss also re-sell off auction fee costs will add on you and your credit

In Past most recovery agencies spend alot of tracing time to find a car then pick it up but Today they do not doing tracing time any more thank to tracking GPS on the car which make the repossossion being processed more quicker and more auto lot dealerships use "pastime" devices in all cars on thier lot soon as they bought cars off from auctions then hook these devices up under the dashboard next to the car's ECM box (electroic control module) before put it on the lot to make the sale once you buy it financially they already set up... it will help em to secure that you pay on the time they will provide you a new code each month which will provide you a small keypad which will leave in glove compartment than once you pay the payment then they will give you next new monthly code for you to set up with the keypad to activate the new code for your next month usage if you do not pay and fell past dues these device's "last month" code will cut your car off it won't start or run til you pay if you don't pay at all then the device will served as thier tracking GPS they will find it which save alot of time... so you may notice many small on lot financing auto dealerships growing more today thank to that new "pastime program" it started in 1998, all 1987 and newer cars that have that ECM box... (Electroic control module) that where these pasttime devices usually hooked with...

Well, I provide the recovery service for two small auto lot dealerships here in NC we picked up about 3 to 7 cars per month by using a self loader truck which can tow a car away less than 3 minutes.
 
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For the repossossion process, depend on where your state at following the state financical law at most once you signed the auto loan or contract which make clear that you promised to pay monthly payments that divided into the short or long term to be paid in full if you did not pay only one month payment or a day late after upto the ageement to pay, it automatically that you brenched (sp) the contract so they usually wait other month or 30 days to confirm that you really voilated thier contract if you still do not pay which would fell 2nd month behind then they start to process your contract to be on repossossion status then given to "repo sharks" they have two or three different recovery agencies after first day on repossossion status are all up to the recovery agencies to come by to pick the car up there are no tell when after 2nd month they will come after it anytime whenever fit em ... the reason why most finance companies or banks use more than one recovery agency to help em to speed up the process of repossossion for em to have the car on thier hand soon as possible that why I called them the "repo sharks" whoever pick the car first they got paid and these "repo sharks" get paid damn good money anywhere from $350 to $1500 bucks a pop these recovery fees plus the amount of loss also re-sell off auction fee costs will add on you and your credit
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Interesting! That sounds pretty scary!
 
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