I bought mine thinking my daughter can have it for her first car in 5 years. We'll run her until she can't run no more! I may have a hard time giving it up though. I love it!

 

Most dealers don't use NADA these days. They offer BlackBook value for cars being turned in. BlackBook is what auction houses use. You may be able to get a higher number from a dealer, but you had better know what you are looking at. Odds are, those numbers are added back in someplace. Anytime you trade in a vehicle, the dealer is getting the upper hand. We sell out vehicles at auction ever month. It's a fun, fast paced day. Dealers are there to scoop up what they can (one reason I won't buy a rental/fleet vehicle, it might have been mine , kidding ).

Two things to avoid if all all possible, don't trade in and don't finance at the dealership. If you do both there, You have a happy dealership.

 

After reading this i understand more, i didn't know our car was rental car and what i mean is the impala, focus etc....even cobalt. Also I understand about the first year being the hardest on the value dropping. I dont plan on trading in my car till about end of 2009, i got my car July 06 with the 0%apr. I am just scared at this rate they will want to give me like 6,000 by the end of 2009. After all i financed 24,000 with everthing i rolled over 700.00 from my last car and got a couple things and tax etc...I got the 72mos so i pay off 4,000 a year. so by the end of 09 i should owe 10,000 and would like to get at least 8-9,000 for it. I got it because of the gas, room, and insurance i came from a firebird and with a family now it wasn't an economic choice.

 

Solman...why not finance at the dealer if you get a great rate?


Goose

 

That give them more opportunity to add to the price. When I bought mine, I financed $10K. I already had the $$$ from my credit union and knew the rates. When I purchased, they asked if I wanted to finance with them. I already had the loan secured, but it was not on my credit report until they got the paperwork from the dealer, so I asked them what it would be through them. They offered 1/2 percent lower, longer term, and the price was $25 a month higher.
For the life of me, I could not see where they added. But it was there, just added fee's. All the research I did prior to this purchase told me to not finance at the dealership. And I see why. Numbers may look good, but you gotta see the total.

Another situation, in Feb my mother (72 y/o) bought an 06 Cobalt LS. She at first financed via the dealership. She had a bad mark on her credit score, she already knew that was there. She went ahead and financed via the chevy dealership (that went through Chrysler she found out later ). After she got the car back home (bought in Augusta GA and she lives in Warner Robins GA), she took the paperwork to her CU and they gave her 3% less, same terms and she saved $50 a month.

 

I plan to keep Wheelie for a LONG time, I'm aiming towards 10 years..More if I can...If Wheelie can top 13 years, I will be very impressed, because he would have beaten my '92 Toyota Corolla's life span.

 

That's just about our plan too, so we're not too concered about trade in value since we have no reason to trade right now. Ours will be 2 years old the end of August and we don't run the wheels off it. Has maybe 12,000 miles on it, and no serious problems to date. So barring some disaster, we should still have it long, long after the payments are gone.

 

We currently lease but are going to buy it out at the end (we have to...too many miles already ) and plan on driving it into the ground.

 

I didn't finance at all. Trade-in plus a couple grand cash and out the door.

 

Since our HHR's are powered by the highly durable GM Ecotec "Global four cylinder" it may come down to whether the HHR body and transmission can keep up with the long term durability of the engine:

https://www.chevyhhr.net/forums/general-hhr-4/365-867-mile-ecotec-motor-8831/

post has details of an ecotec engine going 365,000 miles with no overhauls, etc.