delirium

Anyone hear of this? My dealer called me to tell me that he has demand for CPO cars like the one that I bought. So, they want to get me into a new/used car and in turn get my car onto their used car lot. They said they actually have buyers lined up to buy my car used already... Is this a scam?

Cappa26

The pre-owned market for cars is sky rocketing, this may be true.

spoolIT85

If you think about it, it is a scam. They'll buy your car used and sell you a brand new car as a replacement. Everybody seems to be buying used these days, and you will be that sucker to buy off their new car inventory

TB5...

ahahahahah wtf... that seems too good to be true... and that usually means its a scam...

if they are willing to get you into a new car... then that is amazing ... you need to find out the details of that in person.

btw... did the guy on the phone sound like a Nigerian?

spoolIT85

C300Sport

Wouldn't really call it a scam but more like a marketing ploy. There is truth in the fact that used cars are selling better than new. They stand to make both a new and used sale out of it which would let them offer you a little better deal...if they need to...depends on how much you feel like negotiating and how badly they want to sale a car or two.

Derspeed

If there are buyers lined up, wouldn't you benefit the most by selling it yourself? Park across the street from the dealership with a for sale in your window. Or, tell your salesman that you will let the dealership make an amount from the sale of your car that you choose ($500 - $1,000 for example). That way the buyer gets his CPO car through the dealership, you get way more than what they would normally give you on a trade, and he sells you a car. He actually gets two guaranteed sales. It wouldn't hurt to try. Everyone wins. The salesman just doesn't win as big as he wants.

BTW, I have actually done this. It was right around the "keep America rolling" campaign. I didn't even buy an American car. This period in our history reminds me of those days when it comes to car shopping.

woedee

The salesman is working a cold call list (which features your #) - generated by management @ the dealership. This is a standard practice for generating hot leads (and used in other industries as well). Its all BS.

ulovemybenzo

what dealership is this?

delirium

Laguna Niguel, Ca

tanktube67

ulovemybenzo

lol ... what was their offer....?

AMGTTV8

Fletcher Jones in Chicago tries to do the same thing - phone calls, mailers and emails...

It's just a ploy to get you in the store. There is no strong demand for ANY car right now - I'm a dealer.

Txhurdle

With such strong trade values, if you originally financed you car at 4.9% - 7.9%, with 1.9% now available it wouldn't be too hard to fathom getting a similar/lower monthly payment on a car with more equipment. The math just works.

QuadBenz

+1.

I've gotten a few letters saying this from different dealers. They just want to get you in. You're better off staying in your own car, deal wise.

delirium

So the deal is that I can keep my payments the same to finance a new 2009 C350, the same car that I drive now, except brand new. The catch is that my loan starts over & its 66 months instaed of the original 60 mo.

Is this a good deal?

QuadBenz

I really don't see the point of this.. Just to move into a slightly newer car?

delirium

ya I dont necessarily get it either because it seems like a good deal. but anything that seems too good to be true usually is right? The APR has gone down by 3% so i can see where some of the savings come into play... but still sounds like a great deal... should I go for it?

bigben320e

MB South Atlanta is doing this as well. Sent my wife and I postcards wanting me to trade my CLS and her R, ride out with new ones.

NOT.

No way will I be able to get the better deal on a new car, unless I get 2.9% or lower and and an absolute crackhead price on the car. Then to top off, almost right on for Blue Book value on my car. Most MB dealerships don't seem desperate enough yet.

BS Marketing ploy...

JimPap

It will in part depend on your current payoff and how the 09 is equipped.

delirium

my current pay off is $2K lower than the blue book trade in value, however the new APR is 2.9%.

When I plug it into a payment calculator, the car would have to be priced at $35K to make my payments the same as they are now. All the equipement is the same, its the same car just a year newer...

Is there something I should consider since I have paid 1.5 years of interest on my current car?

JimPap

Interest paid is a non issue. Water under the bridge.

Next question is how much of a hit are you taking comparing blue book trade in to what you paid. That's what I'd be looking at. Also, how many miles do you have on your C car?

delirium

I'd be taking a $18K hit on the depreciation of the car from the new price to the trade in value for the 1.5 years that I drove it. the car has 30K mi. on it...

JimPap

I wouldn't do it with those figures. Had you said that you had 100K miles on it, I'd definately do it but not with 30K. That $1,000 a month figure for depreciation is actually more than if you had leased your car and that's not even considering the interest you paid.

I do think that the dealer is motivated and may come up with a better deal if you press them. You never know till you try.

My only real complaint about my 08 C300 is that it rides a bit firmer than the 09 C300 loaner I drove a couple of weeks ago. I don't know how much of the difference was due to the difference in tires and how much had to do with MB softening up the ride some in the suspension. I thought about possibly trading. I have just under 35K miles on mine. You know, you can buy a lot of tires and extended warranty for $18,000. I'd trade for $12K difference but not $18K.

One thing I overlooked is how the two interest rates compare. I doubt that you'd save enough on the interest differential, but it should be looked at in this comparison.

justthinking

what's your monthly payment right now?? you said you had the car for 1.5 yrs so that's 18 months, and the new loan would have 66 month instead of 60 month so that's another 6 month..
since the payment amount would be the same, it can be quite simple..
by my calculation, your total deprecation should be your monthly payment x 24..
compare that number to what your car would have deprecated according to kbb or edmunds, should give you a pretty good indicator..