Getting loan and leasing with paid off PIPA 2012

Online selling is the way to go. I got $9400 for my Corolla, when the dealer would only give me $4500 as a trade-in.

 

What city are you in? KBB and Edmunds are good guides to determine your "private party" value on the car.

 

I'm in Calgary, and we have something like Craigslist, called "Kijiji". There are a few cities in the US which have it also. The dealers list the used models at very high asking prices, which helps the private-seller quite a lot. The ads are free to post, however they try to up-sell you on extra frills. I find that those extras don't help much to sell your item.

 

you can offer it up here in the private sales forum. it's probably worth 24k.

 

Are you really intending to sell your used car to a dealer then lease that same used car back from them?

First, this is just about the worst time in the market to sell a hybrid.

Second, the dealer will screw you down on the purchase price.

Third. The dealer wants to sell cars. Sell to you or sell to a bank, they don't care. I don't believe they will be very interested in owning the car and collecting a monthly payment from you.

Fourth, excellent condition means it looks as good as it did before it was sold. That means no scratches, no scuffs., no chips, no dirt.

I don't know why you need the money or how much you need but this doesn't sound like a good way to get it.

 

No disrespect, but buying a Prius to save money is a bit of a fool's errand, even with government subsidies. In my case the break-even point is somewhere around 200,000 miles. In spite of this, I love my Prius for what it is, a finely-engineered, very versatile and superbly fuel-efficient automobile.

 

I don't think a car dealership will even get involved in something like that.

They typically do NOT lease used cars.

I think you need to be talking to banks or credit unions and asking for a secured loan against the car.

If you insist on getting a used car dealer involved, it is VERY likely that you will get screwed in the deal. They will "buy" it from you at the low trade in price and "sell it back" to you at the retail price.
The difference is likely to be several thousand dollars.

As far as your original question, regardless of who you deal with, the most they are likely to loan you is slightly less than the LOWEST figure you can find at KBB or Edmunds or NADA.

 

My best success has come from buying used cars from private individuals. Some of it was luck, and some of was knowing how to avoid a maintenance-trap. Back in grad-school days, I bought an '81 Tercel for $400 from another student, who didn't need it because her boyfriend had a car. I drove it all over Montana, Wyoming and Idaho doing my research work for 3 years (for $0.25 per mile) without a dime of repairs. I ended up selling it for exactly what I paid. That thing made me nothing but money.

 

We have had some PriusChat members trying to sell 2012 PiPs here so you can see the price and maybe get some ideas.
JBumps was one username here trying to sell (regular PiP).

I am not aware if used cars are sold via lease. Best you can do is talk to couple dealers and find out. You might be able to get $25k for the car on a private sale. Look at CarMax.com or Internet for price ideas. On CarMax set your location to say Baltimore or Northern Virginia as we have PiPs. Maybe CarMax makes sense I do not know.

Obviously I assume you know MO is not a PiP state so they are not sold there. That may help you sell if there are some local PiPaholics waiting for one.

 

There's no shortage of ways to rope people into buying things they can't afford. Any deal looks good when you ignore the future.

 

This thread is making my head hurt.

You said you paid off your PipA, but you mentioned RE-leasing it.
You need cash, but you need a car.....and you have a car that you paid off but there's a lease (fleece) involved.
I'm sorry....you said you need QUICK cash.
And......it's tax season.

It sounds like you need to stay away from dealerships.
Try to sell the Pip here (in the "for sale" section of this forum) or on-line.
There's going to be a "Private Sales" value and a "Trade-In" value in KBB.
Don't expect to get Retail for the car.
Pretty soon a lot of people will be getting tax refund checks and car salespersons will be salivating like a cat that hears a can opener.

1. Figure out what you "need" to get out of the car to be happy. Be prepared to settle for less than that. People usually overpaid for Pips in 2012, and they REALLY overpaid for PipAs.
No offense intended......you could have bought a Charger and really be in a lurch, but you need to know that much of what you bought were options and they have a higher depreciation than cars do.
Try placing an add in your local paper (if they still have a paper in your town) or if you have a Credit Union that has a "swap paper" those are good too.
Craig's list might be of help.

Pip-As like yours in my area would go for about $25,000, Private Party, in showroom condition.
If I were going to buy one, I'd look for a desperate seller and offer 22.5 and haggle to 23.5 with a top out of around 24K.
......but I'm more of a base model guy.


Good Luck!

 

I think you would be far better off, as someone else suggested, getting a loan from a bank or credit union secured by the title to the car. Everybody is right about the dealer taking advantage of you when you try what you have in mind with selling them the car and then leasing it back. You are sure to lose big time. You have already paid for the car once in a reasonably short time. That should give you good credit for another loan.

 

If I had a high value paid off car an needed money, I'd rent it out. relayrides.com

 

Just to clarify...

You look like this:




The dealer looks like this:

 

Are you saying that dealers cheetah their customers?

 

only when their lips are moving.

 

Cheetahs never prosper.

...Unless they're selling cars.

 

Cat's quite true.