RDFTS

iTrader: (1)

Reading this thread makes me realize how grateful I am about my financial situation, granted its no where I would like it (need lots more in retirement) but it does make you humble.

To Mud, it sounds like a trade is reasonable for you as long as they give you more than what you owe. What you owe should not matter as it needs to be off what your truck is worth. I have about $8k left to pay on my truck and if they gave me twice that, it would be a terrible trade-in deal as they bought my truck for less than half price (kbb shows my truck around $34k trade)

But lets say they give you $32k and you owe $22k, leaving you around $10k to put towards that $40k Yukon, that is going to leave you with a new $30k loan, add extra for tax and what not, and you are close to $32k. If you finance that for 6 years at say 3%, then your payment will would be $486. If all you care about is payments regardless that it is for 6 years then I would say that you are no different off than you are now so go for it. But if that dealer throws a curve ball on your trade (they will) then you need to be prepared to play hard ball and walk away as those numbers are too tight to meet your requirements financially.

Mudweiser

Again like said before I'm only looking. Also Jayandsam09, the refinance idea is a good idea and I'll be looking into it. I work in a financial institution so maybe we can work in a good rate. Currently the truck is financed out 72 months at 1.9% but still owe 46 months. Definitely something I will be looking into.

Wald

An F150 with a shell on it has much more room than a Yukon and its more versatile. If you're that concerned about mileage, take those 33s off. Hang on to your F150, it's a sweet truck, and pay off some of those credit cards. I don't imagine the interest rate is very good.

Mudweiser

If I took the 33s off I would have to come up with the money for new original sized tires. I don't know what I'm going to do.

I do thank you all for all the input. It has given me a lot to think about!

BobLobLaw

Someone will trade you their stock tires for your 33's. Maybe even give you some cash on top of that. Post an ad on craigslist. Makes sure they are P rated tires for best mileage. Don't worry about your leveling kit. They don't really affect mileage.

Mudweiser

Like I said you all have given me a lot to think about. I am going to do some hand calculations of my mileage next week when we go on vacation. Like another member recommended, we are going to pick up a couple of Rubbermaid containers to go under the tonneau cover.

Wanted33

[QUOTE=KBS;2784091]Why are you buying such an expensive vehicle with so much debt? Since your credit cards are maxed out I assume you won't be putting money towards the yukon. You will be owing 60k. You can't afford a $1000 canopy so instead you're buying a $40'000 suv? I'm confused.

I paid off all my debt before buying a truck. Don't spend money you don't have...[/QUOTE]

Correct-a-mundo.

Mud, I understand your looking for better mpg's, but for the money you are going to lose trading you can buy a butt load of gas. Also, the dogs don't give a crap what they ride in as long as they are with you. Hold tight with what you have. Think about this, if you have one misfortunate happen in your family it may wipe you out. Nobody needs that.

Sawbones

Buy the Yukon if you like, but don't kid yourself that you are going to save money, especially on gas. If you drive 25,000 miles/ yr, and the Yukon gets 1 mpg better (if you are lucky), then at $3.50 a gallon you would save $26/month. Figure out how much more you are going to pay in interest on the "new" vehicle for the next 6 yrs or whatever, and then tell us you are going to save money.

Legendsk

When a typical car salesman sees someone with maxed out credit cards and owes more on their vehicle than it's worth, he will start rubbing his hands together and drooling. These are good evidence of very bad financial decisions and make the probability of talking them into a particularly bad deal much higher. (Clearly, other people have already done this.) The salesman of course is interested in his commission and couldn't care less if it puts his victim into bankruptcy, repossession or other hard times.

ComQuest

[MENTION=69045]RDFTS[/MENTION] excellent comment and I like how you made your accessories and mods list into clickable links. Thanks because I clicked on some of them too.
[MENTION=60404]Wanted33[/MENTION] I like the paid off all your debt quote.
This is true. No one know the next ones financial situation. I myself had mounds of debt and I hated it. I was so exhausted dealing with it. We buckled down, stopped all the excess spending, lavish vacations, blowing money and stuff, and did a debt freedom plan that we learned about at our church. We followed it to the T and we became debt free, except paying off our house, in 2011. It is such an awesome thing to not live pay check to paycheck, and to be able to afford my truck.