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Old 10-17-2012, 09:37 AM   #1
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Returning the 5.0

It's I've never given a car back.
If I wanted to return it, what happens?

Any idea?
Any input will help.
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Old 10-17-2012, 09:51 AM   #2
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Unless the dealer has a specific marketing gimmick that permits this (Carmax), the. You can't 'give it back'. Basically, you are going to leave it on their lot for a month until it gets repo'd.

People think this, but even if you have your receipt the dealer doesn't have to give you a refund.

You likely have a loan with a bank, the dealer is not goin to assume that loan because 1 they don't have to and 2 the car has been titled so it has lost 25% of its value.
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Old 10-17-2012, 09:52 AM   #3
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They probably won't let you return it. You'll have to trade it in or sell it back to them. I was reading a few weeks back about a guy who got a brand new car. Drove it home, decided he didn't want it and tried to return it the next day. He hassled with the dealership for a few hours. Finally they got the dealership to agree to take the car back, refund him the money but he still had to pay like a $1500 restocking fee. He had put less than 30 miles on the car. He said for a long time the dealership wouldn't budge and only wanted to give him the trade-in value.
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Old 10-17-2012, 09:55 AM   #4
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Old 10-17-2012, 09:56 AM   #5
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Oh crap
I didn't know that.
Think I might be stuck with it.
It's just something that sits around and I pay $700 a month for to look at.

But...... After reading ur comments I'd have to trade it in. And I know it sounds bad but I'd rather pay that, have this then pay for something I don't want.

Thanks guys
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Old 10-17-2012, 10:03 AM   #6
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Well then dont let it sit around. Drive that thing!! It's a mustang man, it wants to be driven. ****tt, if you need me to, I'll drive it for ya! Haha
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Old 10-17-2012, 10:06 AM   #7
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Why do u want to return ur mustang
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Old 10-17-2012, 10:11 AM   #8
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Quote:
Originally Posted by JetLife 01GT
Well then dont let it sit around. Drive that thing!! It's a mustang man, it wants to be driven. ****tt, if you need me to, I'll drive it for ya! Haha
Lmao im gonna have too! Lol

---------- Post added at 11:11 AM ---------- Previous post was at 11:09 AM ----------

Quote:
Originally Posted by GE3G
Why do u want to return ur mustang
Dude few reasons, I was laid off for 5 months, still made the payments. Now I have a job, I don't commute, it just sits there, I make way less then I did before, I can survive but with a wife and kid would be easier if I could save that $700 a month.

Love the car, but for once I'm trying to be practical
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Old 10-17-2012, 10:15 AM   #9
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Quote:
Originally Posted by JetLife 01GT
They probably won't let you return it. You'll have to trade it in or sell it back to them. I was reading a few weeks back about a guy who got a brand new car. Drove it home, decided he didn't want it and tried to return it the next day. He hassled with the dealership for a few hours. Finally they got the dealership to agree to take the car back, refund him the money but he still had to pay like a $1500 restocking fee. He had put less than 30 miles on the car. He said for a long time the dealership wouldn't budge and only wanted to give him the trade-in value.
+1^. I've heard the same kinda story. The only hope of recouping on your loss if the dealer won't take it back is to try and sell it privately. Good luck and don't let her go without a fight.
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Old 10-17-2012, 01:37 PM   #10
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Lmao im gonna have too! Lol

---------- Post added at 11:11 AM ---------- Previous post was at 11:09 AM ----------



Dude few reasons, I was laid off for 5 months, still made the payments. Now I have a job, I don't commute, it just sits there, I make way less then I did before, I can survive but with a wife and kid would be easier if I could save that $700 a month.

Love the car, but for once I'm trying to be practical

Put it on Craigslist and try and sell it yourself. Not sure about where you live but here the 5.0's are kinda hard to find and dealers have a market value markup on the new ones.
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Old 10-17-2012, 01:41 PM   #11
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Better luck doing a private sale. Mine sits around too much also but I only pay $300 so that's a huge difference.
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Old 10-17-2012, 02:03 PM   #12
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sell it unless you went into the red loan wise so you cant pay it off, which trading in wont help in that dept either but car lots can "roll" that crap into a new loan and put you further under but at least you would get out of it.
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Old 10-17-2012, 03:10 PM   #13
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Yeah if you have no equity built up in it your best bet would be to offload it for the remainder of your loan or find someone willing to take over the payments. It sucks but it's how it works. Personally i would try to sell it privately.
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Old 10-17-2012, 10:51 PM   #14
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What do you owe vs what is it worth? I know I am worth 22 ish, and I have >15 to pay off.

Roll over is that with financing, they can give you up to 20% over m s r p. so, if you find a Nissan Micro for 10k, they can loan you 12000 if you can afford the payment.
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Old 10-17-2012, 11:07 PM   #15
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Quote:
Originally Posted by Resident Saint

Put it on Craigslist and try and sell it yourself. Not sure about where you live but here the 5.0's are kinda hard to find and dealers have a market value markup on the new ones.
Yeah I'm gonna do that. Thanks

---------- Post added at 12:07 AM ---------- Previous post was at 12:06 AM ----------

Quote:
Originally Posted by DDTCM
Better luck doing a private sale. Mine sits around too much also but I only pay $300 so that's a huge difference.
Dude if I paid 300 this post wouldn't have gone up lol
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Old 10-17-2012, 11:54 PM   #16
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It would be a shame if it rolled into the lake or spontaneously combusted. Lol, I'm just kidding. Don't do that, .
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Old 10-17-2012, 11:54 PM   #17
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If you return it it will kill your credit, what you can do is try to get somebody to take over you payments, either way you are going to loose $$ sorry to hear it man
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Old 10-18-2012, 07:08 AM   #18
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Insurance claim!!! You can hire me to steal it. Ill give it back after 30 days!! After they pay your car off!
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Old 10-18-2012, 08:56 AM   #19
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The Dealership I work with has a buy back program. Two days after I bought mine I got a letter telling me they would buy it back . Most Dealerships are not like that though. Maybe you can trade down for a cheaper payment. You will take a hit but your payments will be less. It's hard to do but it can be done. $700 a month is a huge car payment good luck to you. Hope you can figure out how to keep her man she's a beauty
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Old 10-18-2012, 09:45 AM   #20
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I personally would have never been on board with a $700 payment. I walked into the dealership,told them what I wanted to pay and didn't budge. They gave me what I wanted in the end because I told them if they could meet my terms then they would sell a car today. In the end they made it happen. I also slapped down a $18k down payment,lol.
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Old 10-18-2012, 09:59 AM   #21
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many dealerships try the "your car is in high demand let us buy it back!" basically they want you to trade it in, take a loss, buy a new car, and make them money.
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Old 10-18-2012, 10:24 AM   #22
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Depending on how much he owes, he could look into refiancing. I know I would so I don't lose My 5.0
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Old 10-18-2012, 11:26 AM   #23
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many dealerships try the "your car is in high demand let us buy it back!" basically they want you to trade it in, take a loss, buy a new car, and make them money.
This Dealership buys back any car they sell. You will take a loss because a new vehicle off the lot depreciates at a minimum 25% except Toyota their depreciation is less. I traded in a 2009 Toyota Tacoma and was shocked that they gave me retail instead of trade in on the Mustang. Used Toyota Tacoma in this area are in high demand.Dealerships want you to think they are doing you a favor but we all know the game They are giving me anything I have to take it from them

So refinance? I work in finance and is it possible that you can refi for a longer term? Dont know where you live but if you can find a Credit Union and refi at a lower rate with a longer term you just might be able to get your payments down enough to keep it.

---------- Post added at 10:26 AM ---------- Previous post was at 10:24 AM ----------

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Insurance claim!!! You can hire me to steal it. Ill give it back after 30 days!! After they pay your car off!
Not now he cant
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Old 10-18-2012, 11:30 AM   #24
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Depreciation and all that really depends on the car and area. A generalization is 20%, but a lot of variables are in place. The biggest question is this, how much do you owe right now, and how much s it worth?
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Old 10-18-2012, 11:53 AM   #25
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they use the line "we can keep your payments the same...." what about the principal owed amt lol
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Old 10-18-2012, 12:24 PM   #26
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Originally Posted by primer2tone
It would be a shame if it rolled into the lake or spontaneously combusted. Lol, I'm just kidding. Don't do that, .
LMAOOOO! Hahah

---------- Post added at 01:20 PM ---------- Previous post was at 01:19 PM ----------

Quote:
Originally Posted by 2013_stang_gt
Insurance claim!!! You can hire me to steal it. Ill give it back after 30 days!! After they pay your car off!
Done!

---------- Post added at 01:21 PM ---------- Previous post was at 01:20 PM ----------

Quote:
Originally Posted by DDTCM
I personally would have never been on board with a $700 payment. I walked into the dealership,told them what I wanted to pay and didn't budge. They gave me what I wanted in the end because I told them if they could meet my terms then they would sell a car today. In the end they made it happen. I also slapped down a $18k down payment,lol.
Lmao 18k! I
Put down 5 lol

---------- Post added at 01:23 PM ---------- Previous post was at 01:21 PM ----------

Quote:
Originally Posted by Virgo062

This Dealership buys back any car they sell. You will take a loss because a new vehicle off the lot depreciates at a minimum 25% except Toyota their depreciation is less. I traded in a 2009 Toyota Tacoma and was shocked that they gave me retail instead of trade in on the Mustang. Used Toyota Tacoma in this area are in high demand.Dealerships want you to think they are doing you a favor but we all know the game They are giving me anything I have to take it from them

So refinance? I work in finance and is it possible that you can refi for a longer term? Dont know where you live but if you can find a Credit Union and refi at a lower rate with a longer term you just might be able to get your payments down enough to keep it.

---------- Post added at 10:26 AM ---------- Previous post was at 10:24 AM ----------



Not now he cant
I guess I can talk to chase they hold the loan

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Quote:
Originally Posted by UltArc
Depreciation and all that really depends on the car and area. A generalization is 20%, but a lot of variables are in place. The biggest question is this, how much do you owe right now, and how much s it worth?
Got the car in April so I owe a lot lol
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Old 10-18-2012, 12:30 PM   #27
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Are you sure you owe more than it is worth? Finding those values would be pretty important, you might not be negative on it.

If you put 5 k down, and if you made six 700 payments, that is probably 3600 off the principal. If you have paid off 8600, I would think it is worth more than you owe. But you would have to look up the value and call chase to find out what you owe.
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Old 10-18-2012, 01:07 PM   #28
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Originally Posted by UltArc
Are you sure you owe more than it is worth? Finding those values would be pretty important, you might not be negative on it.

If you put 5 k down, and if you made six 700 payments, that is probably 3600 off the principal. If you have paid off 8600, I would think it is worth more than you owe. But you would have to look up the value and call chase to find out what you owe.
This is true.
I talked to the dealer and they r seeing what they can do. They said my car is a rare commodity because if what I had it built as. It's black , red leather, track pack, 19inch wheels, comfort package, electronic package , security package and has a pedestal spoiler.

Let's c what happens next lmao
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Old 10-18-2012, 01:25 PM   #29
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Good Luck wish I could afford it
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Old 10-19-2012, 01:12 PM   #30
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I know a guy who had the idea of torching his car once. He took it out to a field, took the rims off and ripped the stereo out. He filled the interior with gas and tossed in a match and there was a big woosh!

He found out afterwards that the fire marshall investigates every fire that happens. When they came to his house and he opened the door with singed hair and no eyebrows, the marshall just said:

"Is there something you want to tell me son?"
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Old 10-19-2012, 07:37 PM   #31
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hahahahahahahahaa lmao
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Old 10-20-2012, 01:33 PM   #32
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I know a guy who had the idea of torching his car once. He took it out to a field, took the rims off and ripped the stereo out. He filled the interior with gas and tossed in a match and there was a big woosh!

He found out afterwards that the fire marshall investigates every fire that happens. When they came to his house and he opened the door with singed hair and no eyebrows, the marshall just said:

"Is there something you want to tell me son?"
Daammm that's CSI stuff lol
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Old 10-20-2012, 09:04 PM   #33
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Quote:
Originally Posted by thejohncarlson
I know a guy who had the idea of torching his car once. He took it out to a field, took the rims off and ripped the stereo out. He filled the interior with gas and tossed in a match and there was a big woosh!

He found out afterwards that the fire marshall investigates every fire that happens. When they came to his house and he opened the door with singed hair and no eyebrows, the marshall just said:

"Is there something you want to tell me son?"
Ouch
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Old 10-20-2012, 10:09 PM   #34
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So did you find out how much you owe and how much it is worth?
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Old 10-20-2012, 10:31 PM   #35
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Sell those brembo wheels for around 2k and hop on cruizinconceptwholesale.com for some 20s around 1200 with tires, should at least offset a month payment and you'll have better wheels...

Then use the month to figure out how to supplement some income and keep it because you'll puke if you sell it
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