Who the Heck Needs Credit Anyways? - Chevy Cobalt Forum / Cobalt Reviews / Cobalt SS / Cobalt Parts
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post #1 of 20 (permalink) Old 05-16-2013, 04:05 PM Thread Starter
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Who the Heck Needs Credit Anyways?

So I took my 360 mile round trip drive to test drive a '09 SS sedan today. It was definitely worth the drive. I wasn't planning on buying but ended up in negotiations nonetheless. We almost got there, but being 21, I have very limited credit and would had to have payed 40% down, and what 21 year old has that kind of cash laying around? Plus, they only offered me $1500 for my '09 LT, needless to say, I was insulted. The test drive was the best part, of course. This car was amazing. And the boost, oh my god, the freaking boost! I have never driven a turbo car before and it was everything that I had hoped. I especially liked puttering around in the parking lot and listening to that BOV. Anyway, that was my experience, now for some pics:














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post #2 of 20 (permalink) Old 05-16-2013, 05:12 PM
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Around here a trade in value on a 2009 LT automatic sedan is over $7K unless in not so good condition - that is with 60,000 miles. I've seen them for sale for $10K with 78,000 miles.



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post #3 of 20 (permalink) Old 05-16-2013, 06:28 PM
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wow that is a ridiculous trade in, I would of walked out as soon as they gave me that figure. If they gave it what it was really worth you'd probably be driving the SS now but they do not call them stealerships for nothing. Thats one reason I ask them to appraise my car before anything else, to get that figure first, if its low I use that to my advantage and walk saying "if you cannot give me what its really worth I am not about to let you waste my time with anymore paper work and a mark on my credit for looking." I think I am done with dealership financing though, if I go to buy something I plan to get my own loan beforehand.

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post #4 of 20 (permalink) Old 05-16-2013, 07:20 PM
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Have you tried a credit union?
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post #5 of 20 (permalink) Old 05-16-2013, 07:31 PM
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where is it?

Looks like gremlin's sedan

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post #6 of 20 (permalink) Old 05-17-2013, 07:01 AM
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Never tell them you plan on trading the vehicle in.

---------- Post added at 10:01 AM ---------- Previous post was at 09:50 AM ----------

Get approved for financing with any financial institution and get your interest rate and figure out your monthly payments. Don't go above 5 years on a car loan. Four years for a used car is a good amount of time. Go to the dealership knowing what you are going to pay per month. Not what you want to pay, what you are going to pay.

The favorite game with dickhead car dealers is to ask you what you want to pay then they put the screws to you with a 7 year loan or some such nonsense. Don't ever tell them what you want to pay per month. Go with an "out the door price." When they ask you, and 90% of the time they do. Don't answer. Tell them, "I am already approved for financing and I know what I am going to pay per month, I am concerned with what my final price will be out the door. I plan on putting $xxxx down, financing $xxxx. What can you do for me?" If they don't give you a good answer, be nice and leave."

Don't take shit from anyone, car salesmen are ultimately concerned about making money. You can't blame them, it's their job. If they are confident they can get more for the vehicle than what you are willing to pay, they won't sell it.

You need to figure out what you A) are willing to put down B) what you can afford as a monthly payment with your approved interest rate and loan and C) can you afford the car you want.

The answer may be no and that is ok. There are other cars and you are young.
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post #7 of 20 (permalink) Old 05-17-2013, 09:18 AM
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09 cobalts around here are only going for about 7k with 60,000 miles on them. still $1500 is a rip off but not far from what they would offer you around where I live

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post #8 of 20 (permalink) Old 05-17-2013, 09:46 AM
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Unless it's $1500 over then what he's paying on the LT currently. If payed for then yes a rip.

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post #9 of 20 (permalink) Old 05-17-2013, 11:39 AM Thread Starter
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The LT is payed off. That was a straight up offer. He said the accident I had with minor body damage that was repaired at a professional body shop was what killed the price. bullshit, I know. I have been with the same credit union since I was 15 and opened a savings account so I'm going to go to them and see what they can do for me. It would be a lot easier to walk in with a check and say this is what I'm paying, nothing more.

---------- Post added at 02:39 PM ---------- Previous post was at 02:37 PM ----------

Oh, and this is in Braintree, Massachusetts, just outside of Boston.

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post #10 of 20 (permalink) Old 05-17-2013, 11:44 AM
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That's why we never tell them that it got into an accidents lol. I got $3500 for my 2002 Taurus SEL that had been in an accident before I owned it. Then again I owed $3200 on it so $300 over. However it's in the past my friend hope you enjoy your new SS turbo

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