steve-f150xlt

Hi guys, July 2016 I bought a brand new 2016 Ford F-150 super crew, special edition, 5.5' box, sport, xlt, 5.0l truck.
It also had spray in bed liner, the navigation, 2 panel sunroof, sliding rear window. My friend was a salesperson at the time I got a good deal. At 3.49% interest over 84 months the total including the interest and all worked out to 57,900 without interest the loan amount was $51,700 Canadian. With $0 down my bi-weekly payments are $321. Today I drove it in to the dealership different from where I purchased I asked to trade in and upgrade to lariat. Mine has 37,000km on it. I wanted the exact same colour and everything just lariat. They offered me $38,000 for mine plus tax came to around $41,500 and then the lariat at $64,000 so the total came out to $74,500 before interest so 77,500 with interest and the carry over from the trade in and everything else. With $0 down payments will now be $420 bi-weekly for 84 months 0.9% interest. I'm wondering if they did good for me on the trade in and the lariat price. The new truck will be 2017 f150 super crew, special edition, same colour, elec running boards, Sony system, spray in liner, brake controller and all the other lariat bells and whistles along with the 2 panel sunroof. Any advice or help is appreciated i signed the papers today. Pick up is in a week. Thanks in advance.

white_dc

iTrader: (12)

Financially it doesn't make any sense to me.. But as long as you are happy and can swing the payments.. Congrats!

zx12-iowa

So $19300 us? Seems like a lot but if you are,happy

gatorblue92

An 84 month car note? That's insane.

tmcolegr

Agreed !!

As long as the OP is happy though that's really all that matters. Congratulations on your purchase and enjoy your new Lariat.

David Jones

Enjoy!!!!

FLSTFI Dave

Doesn't make sense to me. Trade sounds like it was up side down on the loan, so now the new truck is even farther up side down.

I agree. I feel even 60 months is too long.

I am never up side down on any vehicle I buy. I have a large down payment, or do no get the vehicle. Had 26,000 down on my Platinum. This way I will never be up side down if I have to get out of the truck.

I never have more than one car note at a time.

steve-f150xlt

I would have put a big downpayment down but the Total amount of interest I will be paying over 7 years is $2600 Canadian. I can pay it off at anytime with no penalty and honestly if I were to put 20,000-30,000 downpayment down I found find better investments to make more than $2600 interest on since my interest rate for the truck is only 0.9%. I am wondering how much the same lariat goes for brand new I think I got a good deal on the trade because I still owed 45,500 and they gave me 41,000 with tax.

chimmike

I think any term note is good depending on the rate, because chances are likely your money is making 5+% wherever it is versus paying 3-4% on a loan...all depends on how the money works. If your investments are making 10%, it doesn't make sense to pay a big chunk of cash when you could have all that cash in investments making good money while you make monthly payments.

WTF150

Something doesn't add up... if you have a "substantial amount of cash" to put down as down payment, then how are you upside down on a 3.5% loan?