Keep Current Truck Or Get A New One?

[DDGTAO]

Hey guys... the Chevrolet dealer (Jimmie Johnson of San Diego) has been burning up my cell phone trying to get me to trade my 2004 Chevy CC for a NBS 2008 or 2009 CC. I owe about 15k on the one I have now. They want to give me $12500 for trade in plus additional rebates. I looked online at their inventory and found one that I like for a Red Tag price of $30345, but I am not sure if it is a good time to buy? Has anyone purchased a new vehicle in the last month? If so, how much of a hassle was it to get financing? Daddy, I know you have an opinion so let me have it please.

[DDGTAO]

Hey guys... the Chevrolet dealer (Jimmie Johnson of San Diego) has been burning up my cell phone trying to get me to trade my 2004 Chevy CC for a NBS 2008 or 2009 CC. I owe about 15k on the one I have now. They want to give me $12500 for trade in plus additional rebates. I looked online at their inventory and found one that I like for a Red Tag price of $30345, but I am not sure if it is a good time to buy? Has anyone purchased a new vehicle in the last month? If so, how much of a hassle was it to get financing? Daddy, I know you have an opinion so let me have it please.

 

Unless you are a cash buyer walk away. Sounds like you are upside down right now and are considering going much further upside down. A personal finance disaster in the making.

 

 

Thanks! You are correct, I am about $2000 upside down... just checked online with GMAC.

[fbachman]

OR... you tell them that the only way you would consider it is they pay off your trade. Once they agree to that, start negotiating on the price on the new one.

 

It only costs time to go back-and-forth. You can always walk away.

 

Negotiate the price on the NEW one, then tell them OK if they pay off the trade (and don't touch the nogotiated price on the new one)

 

[DDGTAO]

OR... you tell them that the only way you would consider it is they pay off your trade. Once they agree to that, start negotiating on the price on the new one.

 

It only costs time to go back-and-forth. You can always walk away.

 

Negotiate the price on the NEW one, then tell them OK if they pay off the trade (and don't touch the nogotiated price on the new one)

 

 

Thanks for the advice! I actually did a deal similar to this in April... I should have been paid for the amount of time that I spent at the dealer... got approved for the 0% and got a good price on a new truck... just didn't feel right at the time so I walked.

[Nick The Great]

OR... you tell them that the only way you would consider it is they pay off your trade. Once they agree to that, start negotiating on the price on the new one.

 

It only costs time to go back-and-forth. You can always walk away.

 

Negotiate the price on the NEW one, then tell them OK if they pay off the trade (and don't touch the nogotiated price on the new one)

 

 

Thanks for the advice! I actually did a deal similar to this in April... I should have been paid for the amount of time that I spent at the dealer... got approved for the 0% and got a good price on a new truck... just didn't feel right at the time so I walked.

 

 

That's what I'd do. They might tell you to get lost. Or you might get a sweet deal on a new truck. It's worth a shot

[66nova]

I agree with the other guys. If they are calling you that much, then they need to step up and pay what you owe on your current truck AND the start dealing on a new one.

 

Otherwise if there are no problems with your current ride, KEEP IT.

[MS3DALE]

Tell them give you a good deal,Cause Jimmie just won his third NASCAR Sprint Cup Championship....They can afford too!!!

[sonjaab]

If you have good credit a loan on a new truck is a piece of cake

to get. But if your a stiff or a credit criminal (aka a roach in sales

guy speak) you would be outta luck !

BTW: NOT saying YOU are ................

 

Anyhoo your already $2000 upside down in your current truck

and that would be added to that nice shiny "gotta have it" rig

new loan.

You would be in worse shape swapping trucks now and buried

even deeper.

[DDGTAO]

If you have good credit a loan on a new truck is a piece of cake

to get. But if your a stiff or a credit criminal (aka a roach in sales

guy speak) you would be outta luck !

BTW: NOT saying YOU are ................

 

Anyhoo your already $2000 upside down in your current truck

and that would be added to that nice shiny "gotta have it" rig

new loan.

You would be in worse shape swapping trucks now and buried

even deeper.

 

You are absolutely correct... I like the one that I have right now anyways. Sure it doesn't have all the bells and whistles but it does kick some butt. I do not NEED a new truck... I already told them when they called to see if I was going to come by or not. I guess that kills this thread! Thanks for all of the input fellas!

[pm26]

I will quote the add I hear on the radio around here all the time. It is from the local Nissan dealer:

 

"If we make a deal, we will pay off your trade no matter how much you owe!

 

Notice the conditional wording. The key word is obviously "IF. Simply put, we will NOT make a deal if you owe substantially more on your trade than we offer you for it.

 

I hate financing and trading in vehicles that I still owe money on. I have gotten out of that viscious circle some time ago. Now it is cash only.

[falcon84]

If it was up to me i would keep walking you are going to be upside down and have to carry the rest of you old one the new plus my buddy just tried to get a new one and the banks are only giving to well qualified buyers.

[GMCOwnage]

Think of buying a new truck as a patriotic, helping the economy out, kind of way. =]

[ALange]

Think of buying a new truck as a patriotic, helping the economy out, kind of way. =]

 

All great advice your are getting here. Make them take your terms, not the other way around. Unless you really need this new rig I'd consider the economy and the comfort of cash in the bank. To my way of thinking a 2004 is a new truck. They aren't old until they are hard to get parts for.