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Traded the 2017 Duramax in

Shagmax

By Shagmax
in Troubleshooting & Recalls

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Dnt Senior Enthusiast

Dnt

Posted
Posted

Where did the 18k trade difference figure come from? In the OP's original post he said he got 58k tradein value on a 62k purchase that is only 4k difference correct?

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4x4Pete Enthusiast

4x4Pete

Posted
Posted

Where did the 18k trade difference figure come from? In the OP's original post he said he got 58k tradein value on a 62k purchase that is only 4k difference correct?

 

He lost 14k on the trade in (the Denali was 72k) and had to pay the difference between 58k and 62k so the total loss or cost was 18k.
DavidM310 Enthusiast

DavidM310

Posted
Posted

He lost 14k on the trade in (the Denali was 72k) and had to pay the difference between 58k and 62k so the total loss or cost was 18k.

That is steep. How does trade in actually work? They slap whatever money you owe after you get a trade in value? Can't see a bank financing a certain percentage over a truck value let alone 14k then another 4k. Essentially this is carrying a balance over to each truck?

DavidM310 Enthusiast

DavidM310

Posted
Posted

Hang around for a while, seriously, hows that Ford. No brand loyalty here, would like an honest comparison between the 2 trucks. Borh are great vehicles, sounds like you got 2 crappy GM's in a row, though. That sucks. But, you still have owned both recently, I'm interested in your opinion on the comparison of them.

Yes would like to hear an honest review of this new truck. Perhaps this one will also be haunted and give OP problems but I hope it proves us wrong. No brand loyalty here, I swear people act like they are getting paid by these companies sometimes. [emoji23]

DavidM310 Enthusiast

DavidM310

Posted
Posted

I don't think you made a bad move. I'd take a 17 250 over a 17 dmax any day of the week.

 

 

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I will say I wish I would of purchased a 2500 over the 1500. I just can't get over how terrible looking the Fords are.

4x4Pete Enthusiast

4x4Pete

Posted
Posted

That is steep. How does trade in actually work? They slap whatever money you owe after you get a trade in value? Can't see a bank financing a certain percentage over a truck value let alone 14k then another 4k. Essentially this is carrying a balance over to each truck?

This is where you lose money as soon as you drive it off the lot. I know the banks up here in Canada wouldn't give you a loan for more that the vehicle's worth. But if you put up more collateral they might, like your house. More than likely you would be in a position to pay cash for the truck and not worry about banks. If the OP was unhappy with the Denali he must have felt that it was worth the loss to get out. Terrible position to be in but he is out mow and hopefully happy. :)

Buckshot556 Enthusiast

Buckshot556

Posted
Posted

My only concern would be the '17 superduty is completly brand new. Everything from the frame to the tranny to the body. I'd be worried about the new model year issues

runsdeep Enthusiast

runsdeep

Posted
Posted

I don't think you made a bad move. I'd take a 17 250 over a 17 dmax any day of the week.

 

 

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Have to ask,, why didn't you buy a ef 250 in the first place??

wade_660 Enthusiast

wade_660

Posted
Posted

Because when I bought my duramax the new body style 250 wasn't out yet. I've never been a fan of the old body style super dutys.

 

 

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Dnt Senior Enthusiast

Dnt

Posted
Posted

He lost 14k on the trade in (the Denali was 72k) and had to pay the difference between 58k and 62k so the total loss or cost was 18k.

Oh I see the math now, but hardly anyone pays full MSRP.............That particular truck if bought at Laura could easily have been well under 60k actual cost. His actual out of pocket may have been even less than 4k LOL

4x4Pete Enthusiast

4x4Pete

Posted
Posted

Oh I see the math now, but hardly anyone pays full MSRP.............That particular truck if bought at Laura could easily have been well under 60k actual cost. His actual out of pocket may have been even less than 4k LOL

 

That is probably true. But then you shouldn't use msrp when complaining about what is or isn't available as an option. If you didnt pay 72k then it isn't a 72k truck and don't act like it is. If he got 58k and only paid 56k well that's a bonus. The Ford Lariat shouldn't be priced higher than a Denali should it? I would think that the King Ranch or whatever their top line is should be comparable. Therefore he probably overpaid for the Ford.:(
sdeeter19555 Senior Enthusiast

sdeeter19555

Posted
Posted

That is steep. How does trade in actually work? They slap whatever money you owe after you get a trade in value? Can't see a bank financing a certain percentage over a truck value let alone 14k then another 4k. Essentially this is carrying a balance over to each truck?

I watched a kid finance a $63k truck, and he owed $52k on a trade that was valued at $32k...so he ended up with a loan for $83k on a $63k truck. Had his mommy there to cosign...

 

It's amazing what a bank will finance, I'm surprised they don't require something like private mortgage insurance (PMI) when the loan is more than the vehicle value.

 

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DavidM310 Enthusiast

DavidM310

Posted
Posted

I watched a kid finance a $63k truck, and he owed $52k on a trade that was valued at $32k...so he ended up with a loan for $83k on a $63k truck. Had his mommy there to cosign...

 

It's amazing what a bank will finance, I'm surprised they don't require something like private mortgage insurance (PMI) when the loan is more than the vehicle value.

 

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Wow unbelievable. Hope he selected GAP coverage to cover what the insurance would give him to what he actually owed on the loan if the truck would ever be totaled. I am sure that 63k truck off the lot became a 55k truck with a 83k loan.

Doug Rosewood Enthusiast

Doug Rosewood

Posted
Posted

My only concern would be the '17 superduty is completly brand new. Everything from the frame to the tranny to the body. I'd be worried about the new model year issues

 

+1 yep..look at the new duramax issues, and all they did was tweak the drivetrain..imagine an all new platform..nothing made by humans is going to be perfect

Big Whiskey Senior Enthusiast

Big Whiskey

Posted
Posted

Sorry to hear you had a bad run with GM. Almost makes me wonder if you have some sort of electrical interference in your area. Good luck with the new Ford. They're beefy, good looking trucks. I considered one myself, but I was able to get my current 2016 HD for about $8000 less than a comparable 2017 F250. Keep us posted on how you like it!

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