So i was looking at the Honda Civic SI Sedan and it got me thinking to buy one. I was wondering how much money i could get for my 05 OZ lancer. It has 23000 miles, its turbo charged and its in excellent condition. AND its an AUTO!

Oh this might sound like a stupid question...if you owe money on your car and you want to trade it in, how does that work?
(Sorry if its the wrong section to put it in, please move if necessary)

 

If you owe money and you trade it in, they take what your car is worth (very little to a dealership because they HATE modified cars and a turbo is a HUGE modification), and they take what you owe and they add it to the new car.

Example:
You owe $10,000 on your car.
Your car is worth $5,000.
Your new car costs $20,000.
--------------------------------------
Final cost - you owe $25,000 on your new car.

If you really want to sell your Lancer, you need to go Private Sale. Convincing a dealership to take a turboed car is going to be horrible. They're going to offer you WAY less than the stock car would be worth because you've lowered the value by changing it. And not many people come in to the dealership asking for a boosted OZ...

 

If you owe money on the car, the dealer doing the trade-in gives the trade-in money to the bank that holds the lien. If you owe more than what you're getting for the trade-in, you're responsible for paying the difference. If you owe less, then you are given the difference.

As for value, check KBB, but don't expect it to be a lot.

 

I would part it out or sell it privately like Doug said. Dealers do not want the hassle of trying to sell a modified car.

 

well the kbb trade in value is 11,075. and i owe 9000.

 

Part-out the kit and sell to private buyer...trade-in value suck!

 

parting it out is really the best option. but besides the turbo what else have u done to ur car?

 

window tint, turbo timer, exhaust, stereo.

 

definately go back to as stock as possible if you're serious about getting this car. Private = more money but sometimes not worth the hassle if you want out of the car quickly. As far as Equity they may be able to tack some of what you owe onto the new car but I think there's a limit on that so you would have to have the difference in cash or check for them.

 

KBB means nothing. The dealership doesn't use it. They use the Black Book, which you don't get to see. But the numbers are all lower. And I guarantee that when they pop the hood, they're going to lower the value of their offer significantly.

 

At least your right side up on the car. If your upside down on a car it means that you owe more then what the car is worth.

 

Didn't read my post, did you?

 

What I found that lowers the trade-in value of a car even more than higher than usual mileage is aftermarket suspension. This according the BMW dealer we where thinking of getting a used LGT from last year around this time.

 

I'm kind of in the same situation right now. I'm looking to get a used Evo or go back to Honda with the S2 within the next few months. But my car is an '02 and it's already paid off. I'm thinking of stripping the turbo kit and putting the car back to stock as much as possible before I trade it in. The money from the kit would be my down payment. Maybe you should consider that option. BTW, the SI sedans are pretty nice.

 

That's what I did, I took off as much as I could and used the money for a downpayment.