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Discussion Starter · #1 ·
Hi, I just registered with the forum in anticipation of my purchase (tomorrow if I decide to accept the deal).

I wanted to get a few opinions as to whether I am getting a good deal in relation to what others may have paid. I am trading in my 2007 VW GTI 2dr hatchback 2.0T with a 6-speed MT. I purchased it used and I also rolled a little negative equity from my GSXR into the loan. I owe about $16442 on the GTI and they are willing to give me $13k for it (this is the highest I have found at any dealerships). This leaves me with about $3500 in negative equity to roll onto the top of the OTD cost of the Forte. - I guess I should mention it's a 2011 Kia Forte 5dr (or 4dr hatchback) SX with a 6-speed MT and a sunroof - I have negotiated them down from ~$23900 OTD to ~$22500 OTD (They told me this price includes the fee they will incur having my car shipped from either KIA directly, or from another dealer; destination fee?)

Taking into account my negative, does this seem like a deal I should take? On a side note, I am fully capable of making good decisions, but it always good to get an outside opinion. Where better to go than people who actually own the car I am looking at?!

Thanks for any response(s).

Cameron
 

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Discussion Starter · #3 ·
is that in USD or CAD? and is the OTD including the negative equity?
That is USD and it includes the $3500 negative equity. Thanks for the response even though I posted this in the wrong section (I just realized this). I will wait for you reply and then probably repost it in the proper place. Thanks again.
 

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Discussion Starter · #4 ·
Is is possible I posted it in a different section and it showed up here? I am pretty sure I didn't see "technical" anywhere in the section when I was posting it...
 

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Discussion Starter · #5 ·
Hi, I just registered with the forum in anticipation of my purchase (tomorrow if I decide to accept the deal).

I wanted to get a few opinions as to whether I am getting a good deal in relation to what others may have paid. I am trading in my 2007 VW GTI 2dr hatchback 2.0T with a 6-speed MT. I purchased it used and I also rolled a little negative equity from my GSXR into the loan. I owe about $16442 on the GTI and they are willing to give me $13k for it (this is the deal I have found at any dealership). This leaves me with about $3500 in negative equity to roll onto the top of the OTD cost of the Forte. - I guess I should mention it's a 2011 Kia Forte 5dr (or 4dr hatchback) SX with a 6-speed MT and a sunroof - I have negotiated them down from ~$23900 OTD to ~$22500 OTD (this includes the $3500 negative equity and the fees for having the car shipped from another dealer).

Taking into account my negative, does this seem like a deal I should take? On a side note, I am fully capable of making good decisions, but it always good to get an outside opinion. Where better to go than people who actually own the car I am looking at?!


Thanks for any response(s).

Cameron
 

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I am sure an admin will move it.

A couple of questions for us to better help you answer "Am I getting a good price?":
Where are you located?

What is the pricing breakdown?:
Cost of forte:
Trade value for GTI: $13k
Negative Equity:
Dealers fee:
Tax:

Have you tried to list the GTI for sale?
Used cars are at a major premium right now, I would think yours would be in high demand for a commuter looking for a manual shifting non-boring run around sporty small car. I would try craigslist, vwvortex, autotrader, any local v-dub clubs. The GTI's are pretty coveted. I got almost $2500 more than the best dealer trade in value quote on my previous car. I sold it on craigslist, had a deposit on it about 5 hours after I listed it. It's all about the listing baby. I should go into car sales lol.

Is the dealer full of bullsh*t?
They told me this price includes the fee they will incur having my car shipped from either KIA directly, or from another dealer; destination fee?
So they don't even have the car and they want to sell it to you? They quoted you on something they don't have? This is extremely dangerous. Don't let them jerk you around. Only deal with an actual car that you have on the lot, or in the rare instance, one that is confirm-able in transit with an actual vin number. What they will do is take your deposit money and you will never see a car for a month, then they will say it fell through blah blah lol. They can't order from Kia so that right there is pure horsecrap. I hate it when dealers do this. By the way, it's extremely hard to find an SX with a manual transmission. You may have to search dealers yourself.

Can you deal with other dealers in your area?
 

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Discussion Starter · #7 ·
I have more numbers...I am getting the car for $17,090 (this includes USAA pricing with the $1000 incentive and $500 mil incentive) + $750 for sunroof + 3% (Virginia sales tax) + plus the $499 dealer processing fee + $3500 negative equity, which comes to approx. $22,375. I am paying $22,500, but this also includes the price to have the car brought in from another dealer. Good deal?
 

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Discussion Starter · #8 ·
They are giving me USAA pricing -
Cost of vehicle: 17090 + sunroof (750)
Then add Virginia's sales tax which is 3% then $499 for dealer admin fees (at least that is what what listed on USAA), then add my negative equity ($3500). My calculations got me to ~$22375. oh, and the 17090 includes $1000 incentive and the $500 military bonus cash.

As for selling it privately, I have thought about it, but I dont feel like dealing with it. I sold some motorcycle gear on craigslist and even trued selling my old GSXR, but it was not worth the hassle, and I ended up trading it anyway. Thanks for the suggestion though.

Thanks for the reply.

Cameron
 

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I was in a similar situation, I had 10k in negative equity on my trade in and I paid 5k.They rolled it into the OTD price to make it 24k I was able to make a better deal on the price of the car and drop another 1k of the price. I got the car for 17,850 an then had 5k negative then sales tax and fees. Came to about 24k.

Sounds like a good deal if its the car you want and has everything you want.

What part of VA are you from?
 

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Ugh, frankly I would not call 2 back to back negative equity purchases a good decision. Hang on to your GTI and make extra payments against it.
 

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Discussion Starter · #12 · (Edited)
I was in a similar situation, I had 10k in negative equity on my trade in and I paid 5k.They rolled it into the OTD price to make it 24k I was able to make a better deal on the price of the car and drop another 1k of the price. I got the car for 17,850 an then had 5k negative then sales tax and fees. Came to about 24k.

Sounds like a good deal if its the car you want and has everything you want.

What part of VA are you from?
That sounds like the deal I am getting...close anyway. They aren't charging me the fee's incurred by having the vehicle shipped in, so it may not be too bad of a deal.

We're actually from Dallas, TX. My wife is a NAVY officer and we got stationed here Norfolk for the next couple of years - stationed in Norfolk, live in Virginia Beach.
 

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Discussion Starter · #13 ·
Ugh, frankly I would not call 2 back to back negative equity purchases a good decision. Hang on to your GTI and make extra payments against it.
It's not the trade I am worried about, rather the price I am getting the Kia for. I provided all the numbers to give an overall idea of where i'm at.

My 07 GSXR had like 2500 negative equity which I got down to around $1000 on the GTI deal...I thought about holding onto the GTI, but with no warranty, the cost to have any work done on VW's, and the miles I put on it (which will cause the value to depreciate more quickly), I thought I should get out while I can.

I should also say that I have 66 payments left on the GTI @ $285/month. If I get the Kia, I will only add 6 more payments and increase my monthly payment like $35 or $40 bucks. This increase takes into account the savings I will see on moving from what insurance companies see as a sports car to a 4dr.

Thanks for the suggestion though.
 

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Paying more on the GTI is money wasted that could be used to make a down payment and pay more towards principle. If the increase in payment is not a problem then you are looking at a good deal.

You also have to look at the cost of owning the car and insurance, if it is cheaper in the long run then its a better option.

Hope all works out well, I live in Chesapeake about 15 minutes from Va Beach.
 

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I think the Kia price is a great price. I have a Manual Koup SX and i believe i got a good deal when i paid 18,600 (CASH, OTD). so that price is more than good
 

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Discussion Starter · #16 ·
Paying more on the GTI is money wasted that could be used to make a down payment and pay more towards principle. If the increase in payment is not a problem then you are looking at a good deal.

You also have to look at the cost of owning the car and insurance, if it is cheaper in the long run then its a better option.

Hope all works out well, I live in Chesapeake about 15 minutes from Va Beach.
I have some classes at the DeVry Chesapeake campus...nice area (relative to where you are). I just moved here, but I think I live in Lynnhaven near the mall and 5 min from the beach. I'm looking forward to that sunroof!
 
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