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Discussion Starter #1
I have a 2002 silverstone GLS w/ black leather and 64k miles. I have added Hofele rear lip spoiler, HR OE spirngs, Koni yellow shocks, new pads and rotors, turbo and 20v badges. Problem is that I just got a call from the car fairy and she says she can get me in a 2004 for a little less than what I am paying now. I like my car but the miles are getting up there and the warranty is gone. What do I do?
 

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Maintaining an older car usually is cheaper than the depreciation on a new one. It's up to you. Analyze the payment they've offered you and see how many years it's for. Salespeople don't mind stretching a loan out to (and beyond) 72 months. Do you want to still be paying on a car after it's out of warranty?

BTW- if you decide to keep your current car make sure that you replace the timing belt soon. 60k is a good time to get it replaced. Search this site for info about pricing. Some people have gotten really inflated quotes for this job.
 

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You need to look at the payoff of your vehicle to vw credit because that is the number that matters to the dealer, and the invoice of the new car. If you owe, say, $14,000 on your current car, that's pretty much what it will cost the dealer to take your car. Assuming excellent condition, and people are paying $16,275 to the dealer for this car, they are making over $2200 in that deal alone, plus they will make out on a higher finance rate when they sell it. They may have to justify a little $$ in tweaking it for sale (new tires, cleaning, etc).
Look at the invoice amount and figure in the amount they will make in selling your car, what it is worth for them to do the selling vs. you selling it privately, taking that money and using it as either downpayment on a new passat or stashing it in a moneymarket with a higher rate of interest than the 1.9% you'll pay on a 5 yr. loan. If you made a large downpayment on your car when your bought it, it will be worth even more to the dealer because the payoff amount is less and they own it for shorter money, thus their profit larger at resale. You may have more bargaining power than you think if this is the case.
The payoff of your vehicle is figured into your new finance amount, so the number they will talk to you about is, what they hope, MSRP minus that amount. I hope this makes sense to you because it can make your head spin once the numbers start flying once you are in the hot seat.
 

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If you can get in a new one for less then your paying now then that's a no Brainer! You really have not put much into the car you have and can strip out the springs & shocks to put in the new ride. :wink:
This happened with my wifes car(maxima) when we went for service the car was 2 years old and we got a new one for a cheaper payment because of the interest rate. So what do you think we did? We got the new Maxima :)
 

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Discussion Starter #6
I buried about $6000 in this car from my last truck and the fairy says I am about $6000 upside down now. My car fairy is a dear friend so I don't think she would screw me too bad. For example: my current car was a loaner car with 3k on it when I bought and I paid about 22k for it with a sticker at $26,400. I will definately look at the numbers when she gets them.
 

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like gjd6640 said, see how long the new car's repayment is for, and how much you could sell the existing car for, maybe modded if it's to another :b5: er, or stripped if it's to someone else.
 

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So what is your payoff? Is it 6,000 or 12,000?
You need to find invoice on this car and apply your payoff to that amount. The amount left over, hopefully somewhere very near or below invoice, is the amount you will be discussing. That number, plus your payoff, is your new loan amount.
add options and check invoice here
 

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Discussion Starter #9
I am sure it will be another 5 year loan for a little less a month. After thinking about it for awhile I think I will keep it for another couple years or until the new body style comes out.
 
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