user 83720

For a trade-in

My truck - '18 F150. 3.5EB. MTP. 20'' wheels. Sync 3. gooseneck. spray liner. MSRP 52400. bought for 48400.

Their reasoning: we cant go any higher b/c someone can walk in here & buy a new one for 42k w/an A or Z plan discount plus rebates

Summers22

iTrader: (2)

I am not sure you are going to get any answers you like. Can you not afford the payments? We need a little more info. Are you trying to trade it or sell it back to the dealer?

Jeff1024

Good luck, trucks seem to hold their value well, but they still depreciate like a rock as soon as you drive them off the lot. Maybe try carmax? They gave me what I thought was a pretty fair offer for a WRX back in the day.

user 83720

What's odd is the dealer I got my new 150 from gave me 26k for a 2015 model, 2.7 shortbed w/48k mileds, yet I can only get 33k for a 5k mile, 6.5 bed, 2018 3.5.

One salesman aggreed it's already depreciated as much as its gonna & so if i pay it down for a year it'll probably still be at 33k & the loss wont be as much. i could be totally wrong on that however

Summers22

iTrader: (2)

edit, I'm out

dajohu

I'm guessing you bought at a bad time. I think you paid 8-10k more than you should have. That will indeed make it hard to resell so quick. I've had good luck reselling to dealers, but that's after a year or two paying, and after i felt i got good pricing. So I always walked away with a pile of cash. Still a loss for sure, but not as hard to swallow.

JerseyGray

gone postal

Why worry about it? Your house is paid off, and you're going to save enough money by trading for a diesel for this to make perfect economic sense!

Ricktwuhk

Use vehicle pricing guides like Edmunds, Kelly, etc. to determine value. Dealer always pays less than private sale. You paid way too much. Could have used X-Plan plus rebates.

I suggest, based on your past questions, a financial advisor before you make some really bad choices.

marshallr

You're gonna have to drive it till you're no longer upside down

If you buy smart you can do very well buying new trucks.

* It doesn't matter whether you buy new or used, you have to keep one until it is 10 years old or 150,000 miles. The cost/mile, cost/year breaks down virtually the same buying used or new if you do. And you have too be smart and not over pay.

* NEVER get in a position where you are upside down and owe more than it is worth. If you can't afford to buy a new one and not be upside down, then used is the way you should go. It is the guys who trade every 2-5 years that lose a ton of money. Doesn't matter if they are buying new or used.

* I've done this several times over the years. Buy new truck, drive it 10 years or 150,000 miles. At that point most trucks will sell for 1/2 the original price paid and you won't spend a dime on repairs other than routine stuff like fluid, brake and tire replacement.. Not talking about sticker price, but actual sale price. Since I get 1/2 my money back after 10 years the guy who buys my used truck has as much money invested in it as I did, and he gets to pay for all of the repairs. Another thing, most buyers wanting a 10 year old truck would just as soon have an XL, or XLT as one of the higher priced models. Those are the ones that are harder to get your money out of later on.

* I make a payment for 5 years, no payment for 5 years. But will still put back a little money every month to save toward a down payment the next time. By getting 1/2 my original investment back, plus the money saved I always have a good chunk for a down payment for the new truck and never have to make a big payment. And ever have to pay for major repairs. As long as interest stays around 2% it is cheaper to finance a new one and pay the bank than pay mechanics $100/hour.