ckolbash

So, I got a message from Byers Imports in Columbus, OH about a trade-in event. I've purchased two WRXs from them in 3 years. My first purchase was an 03 WRX, then Subaru had their Guaranteed Trade In event and I walked out of Byers with an 05 WRX for the same payment as my 03.

Well, they sent me a message tonight saying that they are having their own Trade-in event, independent of the "ongoing Subaru Trade-In Event" which ends in late February. Two questions:

1. Has anyone received a letter about another Guaranteed Trade-In Event?

2. Can anyone convince me to trade in my 05 for an 06 WRX? I like the idea of 2.5L, upgraded chassis, and bigger brakes. Do you guys think it is worth it if I can walk out the door for similar payments? I realize it is my decision, just wondering what you guys would do.

Thanks.

HomerJay

iTrader: (3)

Depends on what they would give you for your car. Generally, the dealers screws you for the price of your trade-in.

ckolbash

Well, that's the thing. Subaru gave me 3K more then my car was worth on KBB the last time I traded it in. That was a deal I could not pass up. I may take them up on a deal if they can cut me something similar this time.

thesacrifice

That sounds like an easy one to me, retain the same payment, get 3k more then what your car trade in is valued at and walk away with the newest model year car.....

erixrw

Just do it!

nachomc

iTrader: (7)

I recently got another trade in offer from Subaru, though it was on my 03 WRX not my new 05. If I could get in to an 06 WRX for no additional cost and same payments as my 05, I'd be ALL OVER that.

LUvikes29

just to play the other side, keep in mind that if you keep trading like this, you're at very best, building no equity. Granted, cars are depreciating assets, so you're never going to make a fortune, but trust me, it's nice to not have car payments anymore. Also, you have to consider the TERM as well as the payment. If you maintain the same payment but increase the term of the loan, you're actually spending a lot more money than you think. For example, if you originally had a 60 month term @$400 per month, and after a year, you trade and extend to a 72 month term @$400, the trade actually cost you $9600!

Also, the odds of this trade happening at this point are very low. The reason you were able to trade and maintain payment last time is because interest rates dropped about 3% from 2003 to 2005. So you can finance more money for the same term and maintain your payment. Since 2005, interest rates have gone up about 2%, so the situation reverses itself.

ckolbash

LUvikes29,

Well said and you are right that it isn't the greatest decision monetarily speaking. As it turns out, I'm not eligible. The dealer sent me the e-mail by mistake and the trade-in deal is only for cars up to 2004. I guess that makes my decision pretty easy, though I bet this deal will be around again next year.