What would you do keep it or trade?

**ptk675** · December 23rd, 2006 07:45 PM

Originally Posted by redorange

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

ROTFLOL

**empy** · December 24th, 2006 01:10 AM

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** · December 24th, 2006 01:23 AM

Originally Posted by redorange

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** · December 24th, 2006 01:27 AM

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** · December 24th, 2006 01:32 AM

Originally Posted by J-C

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** · December 24th, 2006 02:33 AM

Originally Posted by 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......

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