a) You're probably not yet"in the process of trading" it because that actually implies that you're already negotiating with a dealer and have started the preliminary paperwork. It would probably be more correct for you to say that you're planning to trade in your Mustang and that you're in the process of looking for a replacement.
b) When purchasing a vehicle from a dealer DO NOT tell them you plan on trading in your present car until AFTER you have negotiated the best price you can. Only bring up the possibility of a trade in after they have agreed to a sale price that suits you. This puts you in a much better position to negotiate the trade-in value of your car. Otherwise they have some very deceiving tactics of making it look like you've got a good deal when in fact they've ripped you off.
c) Most of the time you can get quite a bit more for a car if you sell it on the private market instead of trading it in. However, if you still owe money on it this can get a bit complicated. So it's often easier to trade in a car that you still owe money on. Just don't tip your hand to the salesman until after they have agreed on a no-trade-in price.
d) It's absolutely foolish to purchase a used car that you have not thoroughly inspected and test driven. NEVER take a dealers word on the condition of a used car. Age and mileage are not the best indicator of that. If you do not know how to properly evaluate a vehicle yourself, then get help from someone who does. Otherwise you're just gambling your money. For the amount of money you're planning to spend its worth paying $100-$200 to an independent shop to have a complete pre-buy evaluation done.
e) Beware of the "certified pre-owned" gimmick. There are no laws that govern this sort of advertising and it can mean very different things dealer to dealer. Be sure you fully understand what it covers. Here, read more about this very important point: https://cars.usnews.com/cars-trucks/best-cars-blog/2016/02/what-does-certified-pre-owned-mean
f) Based on points (c), (d) and (e) above you should very carefully reconsider whether buying a used car from someplace that is "14 hours away" is a good idea. Any warranty you get with the vehicle would be pretty useless to you if you have to take it back to them for diagnosis or repair. On most used vehicles, only the dealer you buy it from is going to honor the warranty. Because of this its probably much better to buy a vehicle locally.
(g) There are millions of used cars for sale at any given time and I fail to believe that just those two cars are the only ones worth considering. NEVER get in a hurry to buy a vehicle. Yes, if you drag your feet you can lose a prospective "deal", but be sure you have done your homework first. My guess is that you haven't. If you had bought intelligently the first time you probably be looking to trade in the car you have already. Don't make the same mistake again.
· 9 months ago