ST Alpha - "requestion: I can get $7k in incentives on a 2010 Cobalt. My 2008 has 90k miles on it, 4.5k left to pay off and is probably worth $7k+ based on KBB" (Reading a Post)

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requestion: I can get $7k in incentives on a 2010 Cobalt. My 2008 has 90k miles on it, 4.5k left to pay off and is probably worth $7k+ based on KBB

Posted by oblique (aka kkuphal) Aug 24 '11, 06:24

Give that I have almost $10k to spend on a $16k (retail) car, what are the downsides of finding a new or used 2010 Cobalt still on the lot and cashing in? I basically get a new/slightly used car with low miles and end up financing roughly the same as what I owe now...

Note: I have the cash to pay off the balance. Warranty on my car expires at 100k

Responses:

so are you financing anything? or no? "have the cash" is different to "will use cash." - amanda "late sleeper" jones Aug 24, 06:29 5
- maybe. It's $4k cash back on the 2010 (plus $3k in GM card earnings) so it's either pay cash or get my own financing - oblique Aug 24, 06:31 4
  - why "your own financcing"? do rates suck? (I would see what GMAC can get me. likely a very low rate.) -- nm - amanda "late sleeper" jones Aug 24, 06:37 3
    - I believe the incentive was for cash or self-financed but I'm checking with the dealer on that - oblique Aug 24, 06:41 2
      - oh, well then yeah, credit union. totally do it. -- nm - amanda "late sleeper" jones Aug 24, 06:44 1
        
        Best part is. My kid starts driving in 5 years. I can get 5 out of a new 2010. I'm not sure I'd get 5+ out of the 2008 -- nm - oblique Aug 24, 06:49
Sounds like a good deal. Might make more sense to sell your old car instead of trading it in, though. - TWuG Aug 24, 06:28 1
- I'm not sure I'll find a new on the lot still (2010). The extra $4k in incentives is only on the 2010s -- nm - oblique Aug 24, 06:29
buy a new audi....nm - capstern s.i. Aug 24, 06:28

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requestion: I can get $7k in incentives on a 2010 Cobalt. My 2008 has 90k miles on it, 4.5k left to pay off and is probably worth $7k+ based on KBB

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