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BigMass
10-26-2006, 02:44 PM
I am looking to trade my 2005 RSX Type S for this 2002 S2000 at the BMW Gallery

http://www.canadatrader.com/result/detailinfo.aspx?ID=23904334&pgno=1&srt=1

How does that car look to you value wise? what could I expect and has anyone purchased a used car from them before? Only thing im worried about is warranty on the S2000.

Also, I have about $21,000 left to pay on my Type S. How will that play out on a trade in.

Thanks for any advise

Guess first thing is to run a carfax on it huh? lol
max_boost
10-26-2006, 02:52 PM
BMW will pay off your finance on the Type-S and give you whatever is left over or you can apply that to the finance of the S2K.

Run a www.carproof.com

Have you talked to BMW yet and got the trade in value of your car? The S2K is overpriced. There was a really nice 01 Formula Red with 80,000kms that sold for $23k earlier this month.
rc2002
10-26-2006, 03:38 PM
If you want to get the most out of the deal, you should sell your RSX privately. Have you already considered one of the many S2K's for sale here on beyond?
BigMass
10-26-2006, 04:13 PM
yes im also very particular on what i want. Black 02/03 model. Also selling the RSX privately then shopping around for a new car would be very inconvenient considering its my only car.

And yes its over priced by about 4000 i figure
Lo)2enz0
10-26-2006, 05:08 PM
i saw that one a week ago WOW

nice clean car
me&you
10-26-2006, 05:24 PM
Originally posted by BigMass
yes im also very particular on what i want. Black 02/03 model. Also selling the RSX privately then shopping around for a new car would be very inconvenient considering its my only car.

And yes its over priced by about 4000 i figure

Negotiate on the S2K and don't forget the GST credit you get for trading the RSX which will partially offset the private sale premium you'd get.

Gallery will wholesale off your RSX (they won't want it there) and will get around $22-24k for it, depending on where they shop it... so you should be in good shape wrt your buyout.

Look for a difference on the deal of $5-6k and that's all you'll be taxed on. PM me if you want more help.
Ripper
10-26-2006, 05:32 PM
2005 RSX-S for 22k-24k :eek:. Hope I can grab it before someone else.
infected
10-26-2006, 05:41 PM
That car's overpriced, IIRC it's been sitting there for a while already.
Mitsu3000gt
10-26-2006, 07:12 PM
Whatever you do, dont pay the "admin" fee that all dealers have. It is a 110% money grab but they have all sorts of stories for you if you ask about it. You also don't learn about it until you've already decided on a price and writing up the bill of sale. If dealers try to make me pay that I say no, and I will walk out of a sale because of it but they always pull you back in and take it off. Every dealer has this, except Platinum Motorsports I believe.
BigMass
10-26-2006, 08:02 PM
thanks for the replies guys. I test drove it today, its definitely an amazing machine. I think i definitely want one. Now the question will be how i go about doing it.

The GST credit thing confuses me. I get my GST back if i trade it in? Or you mean it offsets the GST i'd pay on the used one? Hmm with all these taxes, dealer mark-ups and trade-in rapeage im almost inclined to buy an S2000 privately with a line of credit then sell my Type S privately as well.

They also mentioned that they're eager to sell since its getting close to winter. I wonder how much off i could get on it. Im betting i could get them down to 26000 if they’re desperate.. hmm...

Anyways thanks again!
Aleks
10-26-2006, 09:05 PM
How many kms does your Type S have?

If it's about 50K they will offer you 21-22K for your Type S. If it's like 10K they will offer 24-26K
max_boost
10-26-2006, 09:36 PM
GST credit is simple.

You get $25K on trade in for the RSX (+GST $1500=$26,500)

The S2K you pay $32K (+GST $1920=$33,920).

Subtract the two and you get $7,420.

You only pay GST on the $7K which is $420.
me&you
10-26-2006, 09:58 PM
Originally posted by BigMass
thanks for the replies guys. I test drove it today, its definitely an amazing machine. I think i definitely want one. Now the question will be how i go about doing it.

The GST credit thing confuses me. I get my GST back if i trade it in? Or you mean it offsets the GST i'd pay on the used one? Hmm with all these taxes, dealer mark-ups and trade-in rapeage im almost inclined to buy an S2000 privately with a line of credit then sell my Type S privately as well.

They also mentioned that they're eager to sell since its getting close to winter. I wonder how much off i could get on it. Im betting i could get them down to 26000 if they’re desperate.. hmm...

Anyways thanks again!

Just like Maxboost said, the GST "credit" is based on the difference between the trade and new vehicle.

As you know/have been told: the S2K is really nearing it's limit in the market while your RSX has roughly the same market year-round. YOU have the upper hand here... talk just difference with Gallery and shoot for $5,000ish difference!
SilverStreak
10-27-2006, 08:19 AM
That car is a bone stock 02'
I would say a fair price would be $28K for it. Work them down below $30k for sure. If not, just let it sit there over winter, no rush unless you plan to drive the over winter.

S2000s are dime a dozen these days, you can find a 02 black somewhere else easily if need be.
4doorj
10-27-2006, 08:42 AM
yeah this is the fast and easy way of getting rid of the rsx...
i was impatient and did the same thing... but i lost sooooooooooooooooo much money...
i just wanted the s2000 sooo bad...
i had my 04 rsx type s for 8 months and the dealer bought it off me for 26
but if they are asking 32... i dont think they will take 26.... my guess is like 30