Thinking of trading in 2011 Platinum for 2013 Escape
12-22-2012, 08:14 AM
#101
Senior Member
Thread Starter
Before you get the 2013 Escape, let me tell you about ours.
Pro's
Runs great with 2.0 ECO
Body is very stylish
Con's
The cheapest, materials and construction, on the interior
There are numerous squeeks and rattles
Poor gas mileage. My F150 Eco gets better
Rough ride with low profile tires
Clunking sound from front suspension
The "touch screen" is ill conceived and very clumsy
Drive the Escape for a while and you will see why Fords
quality rating is going down
Pro's
Runs great with 2.0 ECO
Body is very stylish
Con's
The cheapest, materials and construction, on the interior
There are numerous squeeks and rattles
Poor gas mileage. My F150 Eco gets better
Rough ride with low profile tires
Clunking sound from front suspension
The "touch screen" is ill conceived and very clumsy
Drive the Escape for a while and you will see why Fords
quality rating is going down
The interior has been highly rated for its quality of materials.
F150 gets better mileage. Really? You seriously going to drink that cool-aide ?
The ride isn't exactly rough, but you can indeed tell it has 19's. Just like I could indeed tell my Plat had 20's.
MFT needs work. No argument there. But the 2013 update has made great strides.
12-22-2012, 08:16 AM
#102
Senior Member
Thread Starter
I called the finance manager at the local Chevy dealership, we went to high school together and he's been in the car business 44 years. I asked him what percent of leases are bought out upon expiration. He guessed 25%, wasn't sure but just called back after looking it up and said fewer than 10%! I don't know if that is industry wide however.
I've had 7 leases and not one has been turned in. All were traded like any other car.
12-27-2012, 04:06 PM
#103
Senior Member
Thread Starter
Well, they have it listed for $39,999. Just about what we suspected.
http://www.tedbritt.com/commercial-u...4ea423d835.htm
Note: They are lazy and use stock photo's. That's no Platinum in the picture.
Someone in NoVA should go buy it. I suspect if you waved $38K at them, they'd take it. Maybe.
I'm gonna miss her, but I had to do it.
http://www.tedbritt.com/commercial-u...4ea423d835.htm
Note: They are lazy and use stock photo's. That's no Platinum in the picture.
Someone in NoVA should go buy it. I suspect if you waved $38K at them, they'd take it. Maybe.
I'm gonna miss her, but I had to do it.
Last edited by TruckLarry; 12-27-2012 at 04:55 PM.
12-28-2012, 08:11 AM
#104
Well, they have it listed for $39,999. Just about what we suspected.
http://www.tedbritt.com/commercial-u...4ea423d835.htm
Note: They are lazy and use stock photo's. That's no Platinum in the picture.
Someone in NoVA should go buy it. I suspect if you waved $38K at them, they'd take it. Maybe.
I'm gonna miss her, but I had to do it.
http://www.tedbritt.com/commercial-u...4ea423d835.htm
Note: They are lazy and use stock photo's. That's no Platinum in the picture.
Someone in NoVA should go buy it. I suspect if you waved $38K at them, they'd take it. Maybe.
I'm gonna miss her, but I had to do it.
The terms you got sounded pretty good but weren't 100% clear to me (not that it matters at all -- just curious.)
$35k trade for your truck... but then how much for the Escape, really? If it stickered for $36,600 and you say you got it for $32k how much of that was down payment vice incentives/discounting?
Sometimes "dealer math" isn't as clear as you'd think it should be. At the end of the day though, if you're happy and they cut you a check for $14k, good on you. They did cut you a check for $14k, right? Or was it $10k because of your down payment? And you have the check, right?
I bought one car from Britt. No complaints. I got the deal I wanted and don't recall any extra stress as part of the buying process.
12-28-2012, 08:21 AM
#105
A lease is essentially buying and selling the vehicle at the same time. It does not matter how much you put down as one poster stated. Down payment only affects the monthly payment. OP asked if this was a good financial decision so look at all the numbers and view the picture 3 years from now.
Drive the truck for 3 more years and put a few more miles on it. Guess the truck may trade in for say $27000 instead of $35000 - but who knows right. Still making the payment on the truck and the credit cards. Credit Cards may be closer to paid off but probably not. My guess is that truck and credit cards payments will be close to $27000 for 3 years - thats $750 a month for both. So in three years, truck is probably paid off and cards will be close. Lets assume after paying $27000 that you could sell truck and pay off remaining balance of cards and still have about $20000.
Trade truck and lease Escape. The lease is $17500 no matter how you break it down. the down payment plus the monthly. Could be lower down payment and higher monthly payment, but it will always be $17500 total. So over three years that is what you spend on your vehicle and its not yours in the end. So its like buying the Escape for $32000 and trading it in for $15000 in 3 years. Or selling it for $15000, either way. Pay off credit cards now and save at least $150 a month in interest equals savings of $5400 over 3 years. Not paying $350 a month for those cards is saving another $12600. Therefore, over the course of 3 years savings will be around $18000.
As expected the 2 scenarios are essentially a wash - maybe $2000. However, he can take the extra $350 and a month and make investments to offset that small amount. Additionally, the value of the truck in 3 years is hard to estimate since we cannot predict the market. All this being said, he has made a very wise financial decision. Anytime you can pay off high credit card debt using equity, its usually very wise to do so. This will only save you more money down the road too due to the fact that your credit score will increase. This can save you lots more interest on other loans types.
Drive the truck for 3 more years and put a few more miles on it. Guess the truck may trade in for say $27000 instead of $35000 - but who knows right. Still making the payment on the truck and the credit cards. Credit Cards may be closer to paid off but probably not. My guess is that truck and credit cards payments will be close to $27000 for 3 years - thats $750 a month for both. So in three years, truck is probably paid off and cards will be close. Lets assume after paying $27000 that you could sell truck and pay off remaining balance of cards and still have about $20000.
Trade truck and lease Escape. The lease is $17500 no matter how you break it down. the down payment plus the monthly. Could be lower down payment and higher monthly payment, but it will always be $17500 total. So over three years that is what you spend on your vehicle and its not yours in the end. So its like buying the Escape for $32000 and trading it in for $15000 in 3 years. Or selling it for $15000, either way. Pay off credit cards now and save at least $150 a month in interest equals savings of $5400 over 3 years. Not paying $350 a month for those cards is saving another $12600. Therefore, over the course of 3 years savings will be around $18000.
As expected the 2 scenarios are essentially a wash - maybe $2000. However, he can take the extra $350 and a month and make investments to offset that small amount. Additionally, the value of the truck in 3 years is hard to estimate since we cannot predict the market. All this being said, he has made a very wise financial decision. Anytime you can pay off high credit card debt using equity, its usually very wise to do so. This will only save you more money down the road too due to the fact that your credit score will increase. This can save you lots more interest on other loans types.
12-28-2012, 01:37 PM
#106
Senior Member
Thread Starter
Check is for $14,000.
Plus another grand or so when the warranty refund comes through.
And th cc payments are much more than $350.00. More like $650.00.
And I can always buy another F150. Who knows, in 3 years I could even have enough save up for a huge down payment, no cc debt, and be in the right position to actually own one !
Plus another grand or so when the warranty refund comes through.
And th cc payments are much more than $350.00. More like $650.00.
And I can always buy another F150. Who knows, in 3 years I could even have enough save up for a huge down payment, no cc debt, and be in the right position to actually own one !
Last edited by TruckLarry; 12-28-2012 at 01:39 PM.
12-28-2012, 03:22 PM
#107
Check is for $14,000.
Plus another grand or so when the warranty refund comes through.
And th cc payments are much more than $350.00. More like $650.00.
And I can always buy another F150. Who knows, in 3 years I could even have enough save up for a huge down payment, no cc debt, and be in the right position to actually own one !
Plus another grand or so when the warranty refund comes through.
And th cc payments are much more than $350.00. More like $650.00.
And I can always buy another F150. Who knows, in 3 years I could even have enough save up for a huge down payment, no cc debt, and be in the right position to actually own one !
