I got this letter in the mail from the local nissan dealer. They are saying to come in before Dec.29th and they will inspect my car and then buy it back at the "100% fair market value" if I get another nissan. (mines leased).


did anyone do this ????


is it worth it? scam? any heads up before i walk in the dealership

 

Sounds like a scam to get you in the dealership, nitpick every little thing wrong with your car, then offer you a vehicle with a ton of options and no discounts. Dealerships always win.

 

Just like the "free" test drives they send in the mail every month.

 

ill almost do anything to get rid of my maxima

its my 2nd one, but this ones been nothing but problems from day one.

i think im gonna go and just hear what they have to offer..... ill report back

 

don't buy another Nissan










Buy a Z06

 

I don't know if I would call it a scam but rather marketing "prowlness" on the dealer's part. Anything they can do to make it sound like you will be getting a deal...just so they can get you there in order to give you the full onslaught of sales tactics.

Before you go, research other cars similar to your setup on the web, and if you can, jot down the NADA and Kelley book values as well. Hopefully the dealer has a website that lists what cars they have in stock so you can price those out as well.

What I think will happen is that they buy the car from you at "100% fair market value", but it will be much much less than what they turn around and sell it for as used. Then I bet they try to stick you with another lease agreement, buyout option, or option to buy new. Of course you will have no money or trade-in to put towards any of these options, not to mention if they find any signs of overuse that you may get charged for. Finally, you will probably only be able to pick from what is directly on their lot. They want to get rid of as much inventory as they can in order to avoid paying the taxes and such and also so they can re-stock with '06s.

This is just my humble opinion, but it doesn't hurt to check things out. All I know is that I went from a lease with my '00 into purchasing my '02 and didn't come out as well as I had hoped. Of course there were a few things I could have done better, but I'm not sure it would have changed the overall results all that much. Anyway, just my personal experience. Yours may be different, please let us know! Btw, sorry to ramble.

 

I got my letter this summer. It was enough for me to check out a 2006... then realize not enough changed for me to lose $20k

$10k already paid....
100% value is just about what I owe....
$35k for an 06 full price.....

So I'd just about lose $20k to reset my Odo

---
oh yeah, I believe you must buy off the lot. No orders

 

Common sales tactic. Dealerships will say anything to get you into the door and try to tear you a new one.

 

Oh yeah, and the fair market value is actually wholesale value of the car, i.e. somewhere around 50-60% of the retail value... I went to a dealership last night and decided to keep mine for now as the result...

 

Hey i see your from the BX too, which dealership was offering this, if it's ***, id probably say hell no, its a scam.

 

It's not a scam... They're just trying to get you into the dealership to buy a new car. I would hope anytime you trade a car in you get "100% fair market value" or else you're getting screwed

 

Very interesting.

(One of 15 noob-required posts.)

Thank you.

 

me too.
thanks.

 

fair market value = value they decide your car be since they are the market. Best wishes in getting a good deal.

 

It's not a scam, just clever marketing. IMO I see no compelling reason to buy a 06 if you already have an 04. If it were a prev. gen max, then that would be a different story.

 

They usually take the trade in(say 20k, hypothetically) minus what you OWE (say, 24k) and take the difference and put it towards the new car. say youve paid the lease down to 24k from what you bought it, 30 something, even though there wasnt a loan or anything, it was just a lease, they put the difference on the price of the new one. The new car is 28k, you owe 24k so thats $52,000 minus your car now (20k) is $32k instead of the msrp of the new car, which was only 28. basically they take the difference between what you owe and what the trade is, and tack it to the price of the new car, like their paying off previous financing, even though there was no loan to begin with.

 

What?

 

It's all in who gets to define the market. As long as you don't want to trade, you have a shot at defining. If you have a want that needs scratching, the dealer defines the market.

 

this is clever marketing. Directed to those who have an older car(s) and want a good trade in value.

This is a clever tactic, just like the "free gas for a year" when you bouhgt a new mitsu.

 

I mean the dealer tries to make money off of a lease where there was no loan in the first place. Say you had a lease on a $28,000 car but only owed $24,000- youve made 4k in payments. When you go to the dealer to do a straight buy and get out of the lease, theyll take the difference in your trade and add it to your loan. I mean, that car you owe 24k is only worth $20,000, so they add that $4000 to the cost of the new one.

What im trying to say basically is the only way to get ahead of switching from a lease to a buy is to have paid more on the lease than your car is worth, and you get that money back in trade. Sorry this story is confusing, it actually happened to my g/f's father- bought an 05 pacifica (lease) had a lot of problems, when the dealer offered to buy it back, he owed 23,000 and it was only worth 18,000 so they added the 5000 to the cost of the PT cruiser he bought. paying on a 21,000 lease for a 16,000 car is what im trying to say.

 

get you a 350Z or get a SE-R altima