Trading in the Equinox.

[ls1mike]

As you know I like to keep my cars. When we bought the Equinox I tried to get the wife to buy a car or get the V6 version. I wanted to just get a Malibu it was cheaper. She had been driving the Grand Prix which has some pep. She liked that. (I have always felt any small SUV with 4 cyl was underpowered but that is me)
The Equinox is paid off and at this point I wanted to just keep it, but the wife makes decent money so sometimes arguing is just not worth it.

Well long story short. We took the Equinox into the dealer because I wanted them to look at something on the steering wheel (nick in the leather that has an annoying feel).

Wife test drove a 15 Turbo Malibu. Well 17,000 bucks on trade for the Nox and the price of the Malibu out the door was 25,200 with all discounts MSRP was 34,000ish.

So I pick it up today. Photos to follow, but I like this one. Has good power and is a 2LTZ so it has internet for the kids and just about every option Chevy offers.

 

[wemay]

Malibu Turbo is a sweet car. IMO The looks will stand the test of time too. Congrats!

 

[surfstar]

So sorry to hear about your expensive dealer maintenance visit.

 

[rshaw125]

Originally Posted By: surfstar
So sorry to hear about your expensive dealer maintenance visit.


Very expensive. 'trading in' dealers love some free cash.

 

[IndyIan]

Originally Posted By: rshaw125
Originally Posted By: surfstar
So sorry to hear about your expensive dealer maintenance visit.


Very expensive. 'trading in' dealers love some free cash.

I do wonder about the numbers on trades like this? If you just rebuy when GM is offering big rebates maybe it works out so something reasonable?
If he's just losing $2k/year on new cars then its not bad, but I doubt the Equinox was $23k new?

 

[ls1mike]

We paid 22800 out the door for the Equinox new with 5 miles on it.(MSRP was like 25,500) It had 37,000 miles on it when traded. When we got it there were a bunch of rebates for current GM owners. We got 10,000 for our 07 Equinox with just over 100,000 miles on it.

I didn't want to mess around with selling it out right. I figure based off what I see in the area I could have maybe got 1000 to 1500 more for it.

But don't worry about me, I know how much I make and how much I can spend.

 

[IndyIan]

That worked out pretty well then, probably if most people thought about it ~$2k/year to always drive a new mid $20k car isn't a bad idea.

 

[CKN]

Originally Posted By: ls1mike
We paid 22800 out the door for the Equinox new with 5 miles on it.(MSRP was like 25,500) It had 37,000 miles on it when traded. When we got it there were a bunch of rebates for current GM owners. We got 10,000 for our 07 Equinox with just over 100,000 miles on it.

I didn't want to mess around with selling it out right. I figure based off what I see in the area I could have maybe got 1000 to 1500 more for it.

But don't worry about me, I know how much I make and how much I can spend.



I always marvel on the comments from those who haven't stepped in a Dealership's lot for more than 15 years like "Surfdude". You can't buy a new car and retire comfortably....don't you know that?

 

[Hokiefyd]

I wouldn't have sold the Equinox myself, either. In fact, I rarely sell cars myself. The $1,500 more I might could get vs. trading it in isn't worth the time of holding on to the car, paying insurance on it while I still have it, and then meeting a few tire kickers until someone finally pulls the trigger. That's how dealers make their money, and I'm happy to let them do it.

I'm sure you'll enjoy the Malibu. It's a sharp-looking car.

 

[Dave Hess]

I would have also kept Equinox. We have a small fleet of them for field service techs and they are very comfortable on long drives, very quiet too.

 

[bigt61]

GM is giving away Malibus right now and they're selling a ton of them. You couldn't have picked a better time to buy one.

 

[ls1mike]

Originally Posted By: Mr Nice
I would have also kept Equinox. We have a small fleet of them for field service techs and they are very comfortable on long drives, very quiet too.

I think he meant he didn't want to spend the time selling it.

Our Equinox was fine, but the Malibu is just as quiet and comfortable. The wife and I are both 5'6" so we don't need anything huge.

She really like having the extra power. The Equinox was/is heavy and that 4cyl really could use a few more horses.

 

[Hokiefyd]

Originally Posted By: ls1mike
I think he meant he didn't want to spend the time selling it.


Yes, in case I was not clear, I was saying I'd have done just what you did: trade it instead of sell it.

 

[aquariuscsm]

Originally Posted By: Hokiefyd
I wouldn't have sold the Equinox myself, either. In fact, I rarely sell cars myself. The $1,500 more I might could get vs. trading it in isn't worth the time of holding on to the car, paying insurance on it while I still have it, and then meeting a few tire kickers until someone finally pulls the trigger. That's how dealers make their money, and I'm happy to let them do it.

I'm sure you'll enjoy the Malibu. It's a sharp-looking car.


I agree. Selling a car is basically a full time job in many cases,a huge pita,especially if you lead a very busy life. Only time I'd ever sell a car myself,is if it's something collectable of ultra desirable. I think the op did the right thing.

 

[Dave Hess]

Originally Posted By: CKN
Originally Posted By: ls1mike
We paid 22800 out the door for the Equinox new with 5 miles on it.(MSRP was like 25,500) It had 37,000 miles on it when traded. When we got it there were a bunch of rebates for current GM owners. We got 10,000 for our 07 Equinox with just over 100,000 miles on it.

I didn't want to mess around with selling it out right. I figure based off what I see in the area I could have maybe got 1000 to 1500 more for it.

But don't worry about me, I know how much I make and how much I can spend.



I always marvel on the comments from those who haven't stepped in a Dealership's lot for more than 15 years like "Surfdude". You can't buy a new car and retire comfortably....don't you know that?

Maybe he can't afford a new car and needs to drive an econobox ?

 

[CT8]

Seems to me you did fine.

 

[surfstar]

Originally Posted By: Mr Nice
Originally Posted By: CKN
Originally Posted By: ls1mike
We paid 22800 out the door for the Equinox new with 5 miles on it.(MSRP was like 25,500) It had 37,000 miles on it when traded. When we got it there were a bunch of rebates for current GM owners. We got 10,000 for our 07 Equinox with just over 100,000 miles on it.

I didn't want to mess around with selling it out right. I figure based off what I see in the area I could have maybe got 1000 to 1500 more for it.

But don't worry about me, I know how much I make and how much I can spend.



I always marvel on the comments from those who haven't stepped in a Dealership's lot for more than 15 years like "Surfdude". You can't buy a new car and retire comfortably....don't you know that?

Maybe he can't afford a new car and needs to drive an econobox ?



Living here, no, buying a new car isn't a priority. I don't want to work till I'm 65, let alone 62. I'm aiming for 50-55 (depending on having a kid).
I bought my '05 Vue with 82k miles on it, for $6200 cash, when it was 6-7 years old. Why would I want to pay $23k for a newer version of it?
I currently have the hitch basket loaded with firewood and we'll load it up with camping and climbing gear, heading out to Indian Creek, UT for a 6 day trip. Don't have to worry about scratches on the paint, dirt in the interior or making payments or affording the trip. Priorities. A new car is much further down the list of what brings us joy. We don't want to be house/car poor. We prefer experience-rich.

It sounds like the OP does well, though, being loyal to Chevy and taking advantage of their rebates/etc. I chose my Saturn due to its high depreciation. Different strokes.
My first post was in jest. I can't imagine going in for maintenance and coming out with a new car. Although, I DIY and only end up at a dealer if I need specific OEM part, never for car shopping.

 

[Silverado12]

^^^[censored] dude you're a buzzkill.

 

[surfstar]

Originally Posted By: Silverado12
^^^[censored] dude you're a buzzkill.


I know.
Once I saw how much housing and cars cut into your savings and early retirement chances, I shifted priorities. To each their own, though. Its a counter opinion on this site, as its visited by car guys. You guys would see the opposite at an early retirement forum (of which I do not read or belong to any).

http://www.fastcoexist.com/3043858/world...ences-not-thing
http://www.dailymail.co.uk/sciencetech/a...d-long-run.html

tl;dr:
Psychologists have found experiences make us happier than new goods
Happy memories last longer then material goods, which we quickly accept
This is despite material possessions lasting longer than a brief trip
Even bad experiences can give people more happiness in the long run

 

[bladecutter]

How exactly do you avoid housing costs?

Do you live in a cardboard box, or do you just break into every abandoned/foreclosed house in your surrounding area, and just move from place to place after a couple of days?

BC.