I have a leased 2000 Eclipse GT that I'm trading.
gave me a $2,200 Diamond loyalty certificate that I could use toward:
1st - the difference between appraised value of the 2K eclipse and it's current payoff.
2nd - the remaining amount(if any) can be applied as a down payment on the Evo.

Now for the math:
$12,100 - Current payoff of the 2K Eclipse
(12,000) - My dealers apprised value
---------------
$100 - normally will be buried on the new car but in this case, will be taken from the loyalty certificate.
($2,200) - Diamond Loyalty certificate
-----------------
($2,100) - to be used as down payment on the Evo
$30,722 - Black A61 @ MSRP
------------------
$28,622 - Price before taxes and title

My dealer obviously is getting the $$ from but as far as I'm concern, I'm know what I what I shellin' out.

Is there anything I'm not seeing here??
Advice, comments welcome.
Thanks.

 

beware the dealer add ons heheh. looks good though

 

you might get the best deal outta anyone here...

looks good from this end

 

Watch out for the stuff they try and push on you or claim cannot be taken off at the final step when you meet with the Finance guy to sign papers! Beware the finance guy, they are the sneakiest because you think you are done negotiating and he is out to make an extra buck as well!

disco

 

Is the Loyalty thing just for leased vehicles? I'm trading in a 2K eclipse that I have financed through MMCA.

 

Thanks for the heads up guys. I did mention that I wanted the car bare as a baby's bottom. I even told them that I could wash the car myself but he assured me they will take good care of the car during PDI.He even stated that if they couldn't wash a car properly then he shouldn't be in the car biz.(NY sarcastic humor). The owner is a stand up guy!!

Yes, I do believe it's just for leased vehicles. I guess it's a way to keep you from going to another brand. I got suckered into that deal so I guess it works. They usually send it to you 12 months before the lease is up. Another great perk, getting out of the lease early.

 

Yes, just for leased vehicles. As for the above, the math is pretty simple and clear. It's about like getting a $2k rebate on the car. This may also be the first deal in history where the buyout is equal to ACV too.

 

I guess it helps to do your homework. I basically showed him a copy of a printout from Yahoo Autos showing $12,393(Private Party Sale) and $13,914(Dealer Retail) so we met in the middle. Like I said he's a fair and stand up guy.

Do you Yahoo??

 

EVOLUTION/RC51 where at in NY, just for a wonder cause i know most of our NY dealers are very cluless about the EVO. and i've been working on squeezing one out of them, i've been on the phone with just about every one on Long Island.

 

I wrote up my paperwork with my dealer last night too. My car, out the door is going to be less than $31k. A hair less...

So as long as your taxes, tags and add-ons don't add up to $2200, you got me beat!

What is the tax on car purchases up there in NY?

SC~

 

Shocking... My dealer would only give me a little UNDER dealer trade in value.

$10,000 2K GT 5spd LOADED with 42,500 in excellent condition

pisses me off...

 

You're not "paying" less than invoice.

For one, real invoice price on this car is more than what you're talking, when you take in to consideration the holdback and dealer flooring allotments (which you can't do in every situation, but in this one you can).

Second, the equity of your car (which the $2k certificate is just equity in your car) counts the same as cash, you are paying it towards your car. You could sell your Eclipse outright, take the cash, and make the same deal.

Still, this is just semantics. Congrats on the rebate check, good luck with the Evo.

 

BLK Lancer,
Actually, my dealer is just outside the NY border. I do have a deposit w/ Wantagh but not sure if they would budge w/ the $2500 over deal so I'm taking my deposit back.

Secret Chimp,
NY sales tax is 8.25% ouch!! So car w/ tax is $30,983 Registration should be minimal since it's just a transfer of plates.
Good deal on yours dude!!!

Jedinite,
Very good point!! But I guess I didn't want to be greedy. I appreciate your number crunching. i guess because I'm an accountant.

Autoxer,
That's ironic since I have the same exact spec on my car!!
2000 Eclipse GT(Premium Package) 43,000 miles and in Immacualte condition(Not a ding or a scratch).

 

You're math is incorrect. The dealer is NOT going to minus your quoted trade in value from MSRP, but rather from the dealer mark-up price what ever that is. So you need to subtract $12k from the marked up price.

The dealer is never going to pay your balance off directly.

 

3K,
I'm not sure I'm following you. I don't own the car it's a lease. The only equity I have is the $2,100 loyalty check which technically not even equity but rebate check. And like I mentioned I negotiated at MSRP.