Anyone Else Contacted About This Deal?

[resqguy]

I have a 2010 CX9 Touring that I bought new that now has 79K miles on it. I got an letter from the dealer with an offer that is a "Buy Back" program that will give me above the KBB value on trade. My original loan is 0% and based on my payoff I have about $5K in equity. This is something new to me. Although I put money down when I bought the car I have never been anything but upside down on any car I've purchased in the past.

With my equity and the year end discount (if they still honor that along with the Buy Back program) I could buy a new 2012 Touring and my payment would drop about $50 per month. They are also still offering the zero percent financing.

It almost sounds too good to be true.

Has anyone else been offered or taken advantage of a similar Buy Back program? I'm just wondering what the catch is.

 

[tex2670]

All dealers go through their records and send out "buy back" deals to prior customers at some point. let me guess--your car is in "high demand"? I got if from my Acura dealer and Honda dealer too. They don't do it to lose money...

 

[ceric]

It is a way to get you into the dealerships.
I usually throw that away.

A story.
When I had a BMW, I got a letter like that saying a used car like mine was in high demand. They would offer big dollars to buy mine.
I was thinking about selling it at that time, so I went in. The salesman was such an A-hole. He reluctantly said "Where is yours?".
I pointed out the window (mine was parked 50m away). He said, "Oh. that color is not very popular. I will give you $5k for it."
I torn the letter into pieces in front of him in his office and left....(BlueBook had mine valued at $13K at that time.)

 

[zoomzoom_fan]

Don't fall into it. Ceric is right. This is one of dealers ticks to lure you in and start their voodoo dance.

 

[SRTopDog]

I don't know with your mileage, but I can tell you my wife and I traded in our 2010 GT with about 35,500 miles on it for a new 2012 GT outfitted with all the same options and with a top of the line Mazda 5 year 100k mile warranty with no deductible (top level coverage) for about $38 more per month due to the 0% 60 month financing we had on both(didn't have any extended factory warranty on bells and whistles on the 2010)(which is why we were in the dealership anyway)....Our 2010 had 2 dings, a scrape on the front "point" of the nose that required paintwork, and we needed new brakes and tires...all totaled those would have cost us at least $2,200 to correct....instead we walked out with a brand new 2012 two days later with 14 miles on it, a fantastic factory extended warranty with top coverage, and they even transferred our roofrails and crossbars over....best part for me was no door dings and front scrape! The wife now understands how to open doors and I have installed a bump pad in our garage....

The numbers just worked in our favor....they were happy, we were happy....sometimes it can happen.

 

[kornholio]

They sent me the same offer with a dollar amount they would give me. I checked on ebay and the same year with more mileage is more than what the dealer would offer me. The dealers never lose out on this.
They will find a way to get back what they give you. So be careful. Especially since you have a lot of mileage.

 

[tex2670]

I don't know with your mileage, but I can tell you my wife and I traded in our 2010 GT with about 35,500 miles on it for a new 2012 GT outfitted with all the same options and with a top of the line Mazda 5 year 100k mile warranty with no deductible (top level coverage) for about $38 more per month due to the 0% 60 month financing we had on both(didn't have any extended factory warranty on bells and whistles on the 2010)(which is why we were in the dealership anyway)....Our 2010 had 2 dings, a scrape on the front "point" of the nose that required paintwork, and we needed new brakes and tires...all totaled those would have cost us at least $2,200 to correct....instead we walked out with a brand new 2012 two days later with 14 miles on it, a fantastic factory extended warranty with top coverage, and they even transferred our roofrails and crossbars over....best part for me was no door dings and front scrape! The wife now understands how to open doors and I have installed a bump pad in our garage....

The numbers just worked in our favor....they were happy, we were happy....sometimes it can happen.

$38 more per month --but for at least 24 additional months.