[RWT]

Originally Posted by hfur

interested in buying another camaro...I want to buy a 2020 and currently have a 2017 camaro with only 7800 miles...I see these things on chevy dealer websites where they will come to your house and trade in the car and do all the paperwork and exchange it for you at your driveway...Questions - I still owe some money on my camaro, will they pay it off for me and give me a few thousand on a trade off? How will they do the paperwork and license if the car is out of state like 80 miles away? Do they transport the car to my house on a truck or will the salesman drive it to my house (which I don't want anyone to do) how will they know what shape my car is in to make a deal without seeing and driving it first? I am sure they will run my credit which is good but is that 0% for 84 months and deferred payment for 3 months just a scam? I mean how does this process work? Am I better off with a broker or would that be too expensive? Any suggestions? Thanks!

Yes they will pay off your car as part of the trade. As for the price they would give you on your trade, most of the pricing calculation comes from their online value source (black book, etc). For ex., They will punch in your year, model, trim level, mileage, etc and the program will give them a value. With that actual cash value (ACV) known they work the price up or down depending on your deal.

Maybe they will do your out-of-state registration paperwork. Depends on the state and the dealership.

They will deliver it any way your want, just maybe not for free. My local dealership, having the salesman deliver (drive it to you) would be free and he would complete the paperwork at the same time. Having it flat bed towed would most likely cost you. However, if it's a high profit deal, they may throw in flat bed delivery.

Is the 0% for 84 months and no payments for three months a scam? No, a scam would imply it is not what it claims to be. It's an incentive, like any other sales incentive (and it probably replaces a different incentive for better or worse). Is financially sound to take an 84 month loan on a vehicle? Most will say no because of the negative equity usually involved. However, it is also a simple interest loan so you can pay it down, or off, quicker and stay ahead of the curve without penalty. Whether an incentive is good for your personal situation, well, depends on your personal situation. A cash buyer is not going to buy during a finance incentive but a person who works from a cost per month basis most likely will. Most people buy on a cost per month basis. Hence, the infamous salesman question, "Where are hoping to be on your monthly payment?" These are the people the finance incentive is targeting as it will lower the monthly payment (not the cost of the vehicle).

You really should find the car you want and call the dealership to find out what they can/will do for you. The practices of dealerships and/or salespeople varies greatly from dealership to dealership.

JMHO
No expertise implied or expressed.