topic Re: Volvo in Auto Loans

Volvo

Sbrooks1 — Mon, 07 Jul 2025 00:54:03 GMT

I have my sight on a new volvo, will need to trade a 2022 Honda CRv EX L, owe 19 KBB says arond 23 , however volvo only wants to give me 18. Car is in excellent shape with 32000 miles. Seriously. What would you do. I need the equity to bring down the finance amount.

Re: Volvo

FicoMike0 — Mon, 07 Jul 2025 01:01:16 GMT

Sell the honda.

Or, find another dealer who has an almost new volvo, who will deal.

Re: Volvo

FlaDude — Mon, 07 Jul 2025 14:28:11 GMT

@FicoMike0 wrote:
Sell the honda.
Or, find another dealer who has an almost new volvo, who will deal.

Right, there is absolutely no requirement to trade in, in fact it can make the process more transparent if you don't. Carmax will make you a no obiligation offer, see what they will give for it. You can also do a private sale, but watch out for scammers.

Re: Volvo

dfwxjer — Mon, 07 Jul 2025 16:16:31 GMT

Always start with a trip to CarMax to get an in-person offer on your current vehicle. There's no obligation for you to sell it to them, but their used car offers are considered the Gold standard. Most reputable dealerships will meet or beat an in-person offer from CarMax.

KBB can be used for general guidance but usually not the most accurate.

If you're $4k upside down then I'd highly advise waiting to trade it in. The allure of a new car is strong, but unless you can cover that negative equity AND add 20% as a down payment toward the new car then you're putting yourself in a bad position. As you said, your Honda is in great shape with low miles.

Re: Volvo

Patient957 — Mon, 07 Jul 2025 16:35:17 GMT

Seriously, keep the CRV. It will last 20+ years reliably, for hundreds of thousands of miles. The Volvo... won't.

If you're dead set on a new car, check out car edge dot com and their YT channel for negotiating tools and resources, including trade in value of your current car. A couple hours invested in learning to negotiate could save you thousands.

Re: Volvo

Sbrooks1 — Mon, 07 Jul 2025 17:16:28 GMT

I would never trade at upside down absolutely. I definitely have equity in the vehicle. I am not in a hurry for sure.

Re: Volvo

Sbrooks1 — Mon, 07 Jul 2025 17:17:27 GMT

Thats great advice, never heard of these. Will do!

Re: Volvo

Sbrooks1 — Mon, 07 Jul 2025 17:38:29 GMT

CarMax offered 25300 and I owe 19000 so that is def what I am looking for, just not sure how much hassle it is to sell and then buy. I def can't be without a vehicle for days..

Re: Volvo

sccredit — Mon, 07 Jul 2025 19:31:45 GMT

@Sbrooks1 wrote:
CarMax offered 25300 and I owe 19000 so that is def what I am looking for, just not sure how much hassle it is to sell and then buy. I def can't be without a vehicle for days..

For $7,300 I'd rent a car for a couple of days.

Re: Volvo

FlaDude — Mon, 07 Jul 2025 19:48:06 GMT

That 6300 difference could cover a few Uber rides.

Re: Volvo

cashorcharge — Mon, 07 Jul 2025 20:08:11 GMT

@Sbrooks1 wrote:
CarMax offered 25300 and I owe 19000 so that is def what I am looking for, just not sure how much hassle it is to sell and then buy. I def can't be without a vehicle for days..

Typically their quote is good for 7 days

Re: Volvo

Sbrooks1 — Mon, 07 Jul 2025 20:18:21 GMT

Volvo came back at 25 for the Honda... TBC

Re: Volvo

Sbrooks1 — Mon, 07 Jul 2025 20:19:38 GMT

Right but I am a CM for CVS AETNA so have at 3 hour radius I cover

Re: Volvo

dfwxjer — Mon, 07 Jul 2025 20:42:19 GMT

@Sbrooks1 wrote:
CarMax offered 25300 and I owe 19000 so that is def what I am looking for, just not sure how much hassle it is to sell and then buy. I def can't be without a vehicle for days..

Is that the offer they made after an in-person inspection? If so, sell it to them, uber to the Volvo dealership with the check in hand and purchase the new Volvo. Good luck!

Re: Volvo

FLLGuy — Tue, 08 Jul 2025 03:26:00 GMT

I'll be honest with you, i'm still stuck on why you'd want to rid yourself of the Honda? This is the reliable standard for a Volvo? Don't get me wrong nothing against Volvo - 32,000 miles on a Honda is pratically barely broken in. Just curious is all, but it's nice that you have equity and like others have mentioned CarMax is notorious for paying generous and they love Honda CRV EX-L's coming in.

Re: Volvo

dfwxjer — Tue, 08 Jul 2025 15:27:06 GMT

@FLLGuy wrote:
I'll be honest with you, i'm still stuck on why you'd want to rid yourself of the Honda? This is the reliable standard for a Volvo? Don't get me wrong nothing against Volvo - 32,000 miles on a Honda is pratically barely broken in. Just curious is all, but it's nice that you have equity and like others have mentioned CarMax is notorious for paying generous and they love Honda CRV EX-L's coming in.

I can see why the OP would want to off his Honda for a Volvo. I drove Hondas for years before finally buying a Lexus about 10 years ago. Hondas feel and drive like tin cans compared to luxury cars. I wouldn't do the deal with negative equity, but if that issue is resolved and the OP can afford the Volvo then I say go for it.

Re: Volvo

Sbrooks1 — Tue, 08 Jul 2025 22:23:54 GMT

I hate to say but this!! I travel several days a week and the Honda is not a comfortable ride, not to mention wind noise, and the bluetooth carplay are hit and miss to even connect. I have tried two CrV one in 2014 and I can say not much changed bt 2014 model and my 2022. I feel like they are now just relying on reputation. Just my two cents. Volvo financing came in with an approval at 1.99% and have over 6 gr in equity on Honda

so just waiting on FM to email me the docs for review then will try and get by there this week.

Re: Volvo

dfwxjer — Wed, 09 Jul 2025 15:34:58 GMT

@Sbrooks1 wrote:
I hate to say but this!! I travel several days a week and the Honda is not a comfortable ride, not to mention wind noise, and the bluetooth carplay are hit and miss to even connect. I have tried two CrV one in 2014 and I can say not much changed bt 2014 model and my 2022. I feel like they are now just relying on reputation. Just my two cents. Volvo financing came in with an approval at 1.99% and have over 6 gr in equity on Honda
so just waiting on FM to email me the docs for review then will try and get by there this week.

Yeah the ride quality, driving experience and wind noise were all issues I had with my past Accords/Pilot. My mother drives a new XC60 and it's very similar to my BMW in terms of refinement.

Glad to hear the finance side of this deal is working out in your favor, and congrats!

Re: Volvo

Sbrooks1 — Fri, 11 Jul 2025 00:03:40 GMT

PLEASE advise

I am picking up the car tomorrow and the sales guy just called me and said he actually works for Land Rover next door but was on call the weekend so thats how we connected as both volvo and LR share duties. He went to get the car to fill up and such and realized insted of 12 miles as advertised the vehicle was a loaner and has 1800 miles. I of course am like WTH, so asked for a discount. He will have to get with FM again in the am. I am so over this. 1800 miles and they are selling as brand new. There is another on the lot but not the color at all that I want, no other dealerships within a 500 mile radius. Advice/?? Should I just pull out, I am upset because Ive had 3 credit pulls and was excited.

Re: Volvo

dfwxjer — Tue, 15 Jul 2025 13:57:17 GMT

@Sbrooks1 wrote:
PLEASE advise
I am picking up the car tomorrow and the sales guy just called me and said he actually works for Land Rover next door but was on call the weekend so thats how we connected as both volvo and LR share duties. He went to get the car to fill up and such and realized insted of 12 miles as advertised the vehicle was a loaner and has 1800 miles. I of course am like WTH, so asked for a discount. He will have to get with FM again in the am. I am so over this. 1800 miles and they are selling as brand new. There is another on the lot but not the color at all that I want, no other dealerships within a 500 mile radius. Advice/?? Should I just pull out, I am upset because Ive had 3 credit pulls and was excited.

Did you not test drive it before signing the paperwork?

Loaner vehicles can be sold as brand new since they've never been titled, but they absolutely must disclose that and you should get a significant discount. I'd advise, assuming you still want to proceed with this specific vehicle, test drive it, and see what kind of discount they'll offer for it being a service loaner.

Dealerships make money off service loaners because they get reimbursed by the manufacturer when the vehicle is loaned to customers for warranty/covered service work. After a couple thousand miles they sell them, assuming they haven't gotten a customer to "fall in love" with it during a service visit.