What would you do keep it or trade?

[redorange]

A couple of days ago I took my Xterra in for service and was approached by a sales guy. He asked if my truck was the one with the big tires and how did I like my truck. I replied that yes the truck was mine and I liked it except it wasn't really the one I wanted since my truck is an SE and I wanted the Off Road model. I explained that when I bought the truck in 2005 Nissan hadn't gotten production up to speed yet and only about 500 or so of the OR models were made. He then made me an offer, if he could find me an OR model and it wouldn't cost me anything out of pocket in cash with the same monthly payments would I be interested. Well about an hour later he came back and said he had found one in the color I mentioned with cost of about $27-28K possibly less. I told him I'm not sure and I would need time to think about it. The crap now is, I am actually thinking about it. Damn!!!

I am 2 years into a 5 year loan and trading would mean starting all over again. My wife says she would rather get an Armada or Titan than the Xterra but that's not realistic. The main difference with the two Xterra models are the following:
1) Hill descent control
2) Hill start assist
3) Electronic locking rear differential
4) Dana 44 rear differential
5) Bilstein shocks

The 4x4 guys here would understand the importance of the locking diff and the Dana 44 off road. Under body armor was also different but I have already added those to my truck. BTW the G sensor for the stability control has been changed and I have already blown the rear shocks and now it leaks but they are replacing that under warranty. What would you do?

[the_wildthing]

If you are able to and like the differences, go for it.

My personal reservations would be: new lease/loan = extended payment = effect on credit score, but that may not be a problem for you; 2) the mods you added, could you take it out and sell it with not too much a loss? (I'm assuming you can't use some of them on the new rig.)

[redorange]

The mods would all still fit except the armor and the dash kit I installed. It's just that starting the payments back to 60 months again isn't so inviting. I wish I could just win the lotto so I can get whatever I want and just move back to the RP and wheel over there.

[the_wildthing]

Taya na. 50M na yung Mega. Maka-taya nga mamaya.

Well mahirap talaga yung new loan. Lalo na 5 years. Sabi nga sa financial sites, use your car for five years even if you pay for it in three. And use the money you save for investments.

[redorange]

50M!!! I'll settle for the basic 7M for me. Agree with the 5 year use of the car. I still have my 1998 Mitsubishi and I only had to sell my previous cars because I moved to Cali and didn't want to bring 4 cars with me. Now it really doesn't matter since if I move anywhere becasue of work the government will pay everything.

[oldblue]

trade it sir, nothing is more satisfying and gratifying than getting a new one.

[redorange]

trade it sir, nothing is more satisfying and gratifying than getting a new one.

Yeah but I am talking about a truck not a wife.

[OTEP]

If you love your current X, then that's good enough.

If you can swing for the new payment and the time/expenses to refit the truck then it's your call.

[redorange]

Thanks for the input guys I think I will keep the current one and just save the money to get the Dodge Challenger when it comes out.

[Chip]

Thanks for the input guys I think I will keep the current one and just save the money to get the Dodge Challenger when it comes out.

Good move

[ptk675]

Yeah but I am talking about a truck not a wife.

ROTFLOL

[empy]

maybe it's a moot point now that you've made your decision....but i'm having trouble figuring out how the math would work.

same payments with no money down, and the same 5-year loan as you currently have, extended. you said your truck is two years old, so you likely don't have enough equity to serve as a downpayment unless you put down a huge DP on your current truck (in which case, why lose that by trading it in now?).

the only things i can think about where they don't lose money on this deal are:

1. they somehow misled you into thinking it was a purchase but they are actually offering a lease
2. there is some huge factory incentive that we don't know about
3. your current car payments are very high.

afaik there are no lenders out there that will issue a car note without requiring some form of DP (except for a lease), so it's gotta be coming from somewhere. either i'm missing something or the terms of the deal are a bit fishy...

[J-C]

Yeah but I am talking about a truck not a wife.

hehe ... point taken.http://tsikot.yehey.com/forums/images/smilies/agree.gif But starting your 60 month lease again?http://tsikot.yehey.com/forums/images/smilies/twak.gif

[redorange]

1) No he said purchase not lease.
2) It is end of year clearance time so that may be a possible.
3) Nope paying only $399.

Well the blue book value is higher than the balance of my loan so the difference in essence would be my down payment I presume. I haven't called the guy back but I may see him next week when they change my rear shocks so I will ask him then. I'll just keep staring at the Dodge Challenger pics to keep from thinking about the offer. Hmmmmm HEMI, HEMI, HEMI......

[redorange]

hehe ... point taken.http://tsikot.yehey.com/forums/images/smilies/agree.gif But starting your 60 month lease again?http://tsikot.yehey.com/forums/images/smilies/twak.gif

I know that's why I will keep the truck, as for the wife she can stay also. hehehe




Edit:
Hope she doesn't come to this site or else I will be sleeping in the truck for my comments.

[empy]

1) No he said purchase not lease.
2) It is end of year clearance time so that may be a possible.
3) Nope paying only $399.

Well the blue book value is higher than the balance of my loan so the difference in essence would be my down payment I presume. I haven't called the guy back but I may see him next week when they change my rear shocks so I will ask him then. I'll just keep staring at the Dodge Challenger pics to keep from thinking about the offer. Hmmmmm HEMI, HEMI, HEMI......

i see. so, if book is higher than your payoff amount, then you probably put down a decent DP when you bought your current truck. the way i see it, you may be 'losing' much of that money unless the dealer will let you apply that full amount towards the purchase of the new vehicle (unlikely because of depreciation). also, if the dealer is offering you book value for your trade-in, they will be taking a loss (because they typically pay wholesale value for used cars) that they need to make up elsewhere.

if there is a big factory rebate/incentive somewhere, then they are basically taking a loss on your trade-in and the new car, and taking the incentive as their profit on the deal. actually not a bad deal for you, but i would research to see what dealer incentives are out there and see if they could go down on the price even further.

hth