Trading in seemingly new trucks?
 

I've been noticing several threads of people getting new trucks and getting rid of '09s and '10s. Maybe I'm weird but DAMN, how can you justify that? Are people getting insane trade-in values on their "old" trucks? If so, it almost makes me want to look into trading in my '10 4.6 3v for a '11 5.0 EB. Still love my truck though

I bought a 2011 someone traded in with 7000 miles on a new HD edition truck. I saved a ton!

I buy a new truck every 2 to 3 years. I have a 2010 now with 13,000 miles and I'm looking to buy new next spring or fall. I like keeping that warranty all the time and I consider what I get in trade a good deal. At least I have so far.

Hell I keep mine until they die of old age and mileage....

As soon as the ashtray is dirty, trade it in!

I don't smoke so I just wait for the floormats to get dirty.

I traded in my 10 Lariat for an 11 Lariat Eco and pay the same plus I got the Ford extended warranty and maintenance and I put no money down. I can assure you that if I had not got a good deal, I would have just kept the 10.

I just get tired of any vehicle after a year or so; my normal pattern is to trade every 2 years but this time I was tired of the tranny problems with my '10 Lariat that the dealership refused to acknowledge.

I may not be the smartest or most financially secure person around but I do enjoy a new vehicle! :)

Can you explain this more to me? Have you increased the amount of months you are financing the truck over?

I find it hard to believe that you traded in a used 2010 and got a new 2011 and still owe the exact same amount on it as you did previously???

Obviously his new loan has to be for a longer term

Im sure the payments are the same, but instead of owing 48 more payments, he jumped back up to 60 (just an example). Noone can do a staright up trade, with no money down-used for new. My thinking, is you're always going to have a truck payment. Even if you pay if off, its now an older truck with high miles, and probably within a yr or 2 of paying it off, you got a new one again. So if the right deal comes along, and the payments stay in the same range, go for it.

You lose a good amount of money, but I think most of the guys trading in right now are going for the EB or 5.0, which I can't blame them for lol

Used Truck Values
 

I just purchsed an 08 XLT with 35k on it for 21k after about six months of looking. The trade in/used car market is crazy here in the north east. A nice low mileage F150 is only a few thousand less then new. They are selling trucks with 100K on them for 20 grand!:censored:

saves money for me 2009 xlt in 2010 with 8000 miles for 25000 is practically new instead of spending over 30 new keep trading in helps me ha

Ya' know, for me it is one of those joys in life (next to my lovely wife) to have a new vehicle every two to three years! :)


And better enjoy it now, while we still can, before the far-left tries to take it all away!

If your comfortable with your truck payments and are willing to always have them you can buy a new truck every two years for the same payments sometimes less depending on your equity. It's what I've been doing since I bought my 05 XLT and is why I'm considering switching to a lease to have in theory lower payments and something new every 3 years.

I traded an '09 XLT for an '11 FX2.

Really - I took it ('09) in for minor items to be fixed under warranty because I had 32,000 miles on it and wanted to make sure it was perfect before the warranty ran out.

Turns out they had a FX2 on the lot that I *loved*. It was a spontaneous decision but I justified the extra features and new-car smell. You know what's even more odd - I went from that awkward old tranny / engine combo to the new Ecoboost and didn't even know what the Ecoboost was until AFTER I bought the new truck. All I knew at the time was it drove SOOOOO much better than the '09.

My payment ultimately did go down $50 / month that honestly had nothing to do with it. There was absolutely no "reason" to trade in that early.

I had no intentions of ever trading in my 09. I got luck when I bought as it was on the lot and had every option I wanted.

But now I'm toying with the idea of seriously trading in to get better towing power and enjoying the lower rates right now.

Me too. Well said.

A Ford pick-up lasts forever. Ill rock my 09 until the wheels fall off.

I don't know if this thread is in regards to trading in fairly new Ford trucks... In my case I traded in a 2010 Nissan Frontier. The Frontier just got too small too fast and when I decided to look into it, it just happened to be perfect timing. All the estimates still had the trade-in value of my Frontier right around what I paid for it (not counting my previous trade in) and the 2011 F150s were being discounted due to end of year. If I were to have made this deal any earlier or much later, I don't think I would have gotten the deal that I did.

With that said, I plan to keep my new F150 for at least 6yrs (extended warranty), but hopefully 8-10.

I have noticed that resale on cars/trucks have gone through the roof and people think their cars are still worth over 20k for some reason....

Traded in a 2010 Ford Ranger Super Cab. I was outgrowing it quickly and had the bug to get a little bit more room. We stopped by the dealership and they were closing out some 2011s on the lot. 2010 4.0 to 2011 EcoBoost was a significant upgrade. Super cab ranger with jump seats to death valley huge fullsize seats and legroom galore was a significant upgrade.

The dealer nearly paid off my truck(~1500 upside down on it) but we got ~12k off MSRP. It seemed logical and the Ranger value is going to drop much more quickly than an F150 value in the coming yers.

Bought my 10 SC FX4 5.4 lux last year for $35,000, MSRP was $44,544. Traded it in on my 11 SC FX4 5.0 lux where they gave me $30,567 for my 10. Out the door for the 11 with a 10 year 100,000 mile warranty was $39,000. I might keep this one :unsure: untill the 10/100,000 are up. I drove a new truck (with both feet :))for 14 months for about $315 a month.

I'll probably traid my lariat for a raptor in a year or two.....

I bought my 2010 Scab in Jan 11 new.They contacted me of great deals on the 11s at the end of sept.I went 2 weeks and forgot about it until my wife reminded me about it(I know shocker).I went in and haggled for 3hours that Sat.over price and left with my 10.They called the following Monday with a decent price.In all I pay $30 more a month and have a Screw so I think I did alright other than starting over on 6yr financing.

PS this is just a fluke thing.I bought a99 XLT brand-new and traded it for the 2010 hopefully this 2011 will be as reliable and long lasting as the 99;)

Obviously...

I want to trade my truck in on new raptor but, I dont have the money now so I will have to wait a few years.:mad:

2010 needed tires and ford had 0% financing on the 2011 and 2010 had 4.2% so i traded for 12 dollars a month for a truck that stickered for 6k more. I got about 7500 off window for both trucks new and they gave me 3k less for 2010 than what i paid.

I paid 32,900 for my 2010 fx4 with lux etc. kept for 17 months, 12,000 miles. Got 30,000 on trade. Not bad if you ask me.

Why did I trade a 2010 for a 2011???? Simple, because I can and I wanted to.

And no loans here.

Traded a 11 xlt for a11 FX4/lux package. Night and day difference between the two. FX is almost as much fun as our hand built Italian luxury sport coupe. Wife comes home next week, going to be interesting.

:thumbsup: Best yet!

Really??

No loans, that can make sense to me. That way you're only paying the difference between the trucks, and not extending the payments and interest you're paying. Trading them in before they depreciate too much makes sense as well. Going from a 5 yr loan to a 7 yr loan and kidding yourself that you're paying the same monthly payments just doesn't make sense to me. Sales guys must love that...

i would love to trade away my 2010 transmission problems but my luck ill get a norther lemon! plus i don't see how i could get a lower payment with my business going under and all! ill be lucky to smell that new car from across the street!

A one- or two-year-old truck is still new for crying out loud. I don't start to even think about replacing a vehicle until it's at least a dozen years or 120,000-150,000 miles, unless it's a pile of garbage or I need a different kind of vehicle. I traded in a 14-year-old Olds Cutlass on my truck, the other vehicle in my garage is a ten-year-old Escape with a little over 100,000 miles. The Escape runs like a champ and will likely stick around for at least a few more years. No sense in trading in a perfectly good vehicle just because it's got a few years under its belt, especially when the vehicle is already paid for...

I would love to trade in my truck every 2 or 3 years, but it's just too much work. You see, I use my truck for work. A new truck means a new canopy, new ladder racks, new storage, new springs, etc. I bought my 2011 Scab on September 1, and it's still not ready to be used the way it should be. The rolling cargo bed goes in next week, and the spring upgrade at the end of November. That's 3 months, just to get it ready!!! Needless to say, I don't want to do all this work every 3 years... or spend all that extra money. (this Fall, about $6,000 over and above the price of the truck!

You guys who can trade up regularly are lucky. I'm jealous.

You never know until you try.When me and the dealer couldn't see eye to eye, walking away was easier cuz I still had a new truck.(sometimes they call you back:))

And there is absolutely nothing wrong with the way you keep your vehicles. It's just the opposite of what I do. You keep yours until they aren't worth the gas to drive them to the dealer to trade them in. I trade mine very couple years and they retain most of their value.

Do you save money in the long run by keeping a vehicle for 10 years..... yes you probably do. (depends on repairs etc....) But, I get new ones while the warranty is still intact. (Never have a car repair, tires, etc)

A 4x4 crew cab truck is one of the few vehicles that trading every couple years doesn't kill you. Try it with a regular sedan or an expensive SUV...LOL

In 1999 I bought a 97 F150 (build date of 6/97) for $17,000
In March of 2008 I bought a 2006 F150 SCrew for $20,000

The only reason I bought new this time is because I wanted an EcoBoost. They gave me $17,000 for my 06. Not bad, $3,000 depreciation for 3.5 years of use.

There have been great deals on trucks that are 1.5 - 2 years old for quite some time. I have always searched out these deals until this time.

FWIW, neither of these used trucks were rentals, leases, or anything like that.

Didn't mean to offend anyone. I just honestly didn't know. I'm very aware and am a big proponent of spending your money however you want. Sounds like people are getting some sweet deals!

Wouldn't you guys rather live payment free? I'm looking forward to the day when my payments are over and I can use that money on other stuff. Unless of course if you're paying in full, then I understand buying a new truck every couple years.

amen well said

I can see why people think traiding a vehicle often is crazy. However, I have to traid every four years anyway to stay on my company auto reimbursement plan. We cannot have a vehicle over four model years old. As a result, the company pays about 70-75% of the cost of owning the vehicle any way. We put about 20-25k miles on them each year. Sometimes the depreciation of 2 years vs 4 years makes little difference in the cost of owning the vehicle. Since I always pay cash for my vehicles I simply have to decide if the depreciation cost is worth getting the new model or not......

My point is, that everyone's situation is different... It is usually not a good idea to judge people, especially if you do not know their particular situation....

What we have to keep in mind, is there are always guys who have the wherewithal to trade in when ever they want. Like I just read earlier, they do it 'cause they can. Good for them. I'm jealous. There are also those who always trade in and make a profit or came out on top 'with Lariat Limited King Ranch Raptor Supercrew 4x4 for $100 cheaper monthly payments than they're old 2wd SuperCab XL. I call BS every time. I've always, always done well on trade-ins. But only in the context of what is fair to me and what I feel is fair to the dealer. What we have to remember is, no matter how well we think we did, they did better. It's their business. Lower finance rates and rebates make these deals look great, and I do believe these are some of the best days to buy new vehicles. But just because your monthly is near or the same doesn't mean you are paying the same, you'll probably be owing more and longer. Most likely you front loaded in the first place. These trucks have anywhere from at least $13000 - $20000 profit margin from MSRP depending on model configuration and options. My XLT/XTR(chrome) with lots of options was $46000 MSRP sticker CAN (at the time, at par with your US dollar, but we still get gooned for vehicles here!), bought for $32000 CAN. $14000 difference from MSRP, but am I naive to think my dealer didn't make a profit. Not a chance. They're supposed to make a profit (just not a big one from me). When you trade in a virtually brand new vehicle, they're all smiles, very accommodating, not sure if they can swing the deal cause they'll lose their shirts. But know this... they still come out on top every single time. They have too. Dealers are generally extremely successful. The big three didn't almost go under because dealers gave away vehicles. Administration blew billions with mostly crap vehicles, mismanagement and notions of entitlement. Sure there will always be guys who beat the odds and always come out on top. But if you must trade in cause you want to, have to, only makes sense to, and the payments are within reasonable limits of what you are paying already in relation to the model you are trading in, then I say don't look back. Enjoy your new truck. And try to enjoy that one for a few years.

I would. I just traded in an 04 Tundra that had been paid out for a while,
for an 05 Lariat 1 owner Sup.Crew with everything including DVD system and ARE bed cap and all I owe is 6 grand. I used to trade every 2 years but my interests changed to a few other things and I wanted to put those
payments toward other things.

I'd trade in my 2010 FX4 for a 2011 FX4 5.0 EB. Or i'll just wait until my 5.4 is paid off and look into adding some boost.

Interesting thread.
I have never had more than one car payment per car, but I hear that "you'll always have a car payment" a lot. Of course, if you trade it after a year or two. :)
Buying new cars too often is IMO one of the most common reasons why people don't get ahead.

A few of the more interesting statements in this threads in random order:
All that comes to my mind is: "Really?".

Luckily we are all free to spend our money however we want, it's just funny when people justify "wants" by saying it saves them ca$h. :huh:
You guys help the economy --- keep on going!!! :thumbsup:

Is anyone else from canada wishing they bought their truck in the states? For the price I paid for my XLT supercab I could have purchased an fully loaded FX4 supercab ecoboost. Or pay $2000 more and get a supercrew.

After reading about all these great trade ins everyone seems to be getting, I took my truck in to see just for fun. (dealer is across the street) my 44k truck, after 4 months, is now worth 27k. I laughed and said maybe in 3 years I would take that.

I sold new/used cars for a living back in the late 80s. Nothing made me smile more than a payment shopper. very easy to get the payment where they wanted it w/longer term. all they were worried about was monthly amount. Did't look at the bottom line

No.

I looked into the hassle of travelling to get a vehicle in the US, paying the taxes and duty, filling out the paperwork, paying for the required changes to instrumentation, and warranty hassles with a Canadian dealer who knows you "went around him" to get the truck... and I decided my life is complicated enough without all this BS.

But on the other hand, I'm not into second guessing my decisions either.

Yes. Biggest mistake one can make when car shopping. Well, among the biggest mistakes for sure.

For some, it could boil down to this:

Some members like to spend $1,000's on mods and upgrades. Sometimes they'll spend $1,000 on a single upgrade (ie: those retro-fit lights). I opt'd to go with smaller scale mods and I'm able to get a new truck every couple / few years with the money that I could have put into mods.

So you upgrade yours manually and I wait until I can afford a newer model with cooler options. We're both doing the same thing, we're just doing it differently. Biggest difference is I get a new truck with no mileage with my upgrade.

From purely looking at MSRP, yes, we do get gooned. But I do think Ford Canada was offering larger manufacturer rebates than the US Ford earlier this year. No question, we still pay more, even with our buck at parity. But the gap after incentives was much closer. Something to consider... many of the dealers in the US are massive. They tend to sell cheaper, to make quick money on volume turnover. Even here in Ontario, a small, ruralish dealer won't even come close to the selling price of a Toronto dealership. At least not when I was getting quotes.

I'm trying to get rid of my 3 week old 2011 w/ 2000 miles on it. lol I'm going back to a diesel after my 1st tow w/ this one... Why drive something you dont like for years?

I think it's ok to be a payment shopper if you know what that means to you financially.

In my case our family budget is very regimented and carefully planned. I had exactly $409 dollars per month to spend on any vehicle.

After haggling the dealership's price (after incentives) down another $1800 to where I knew I was getting a good deal relative to the rest of the GTA market, I started inquiring about monthly payments. At 60 months the payment was too high, same with 72 months but it was close - within $7 per month. Most people would consider that 'close enough' but I continued to negotiate with the dealer until I got my $409 per month.

I feel successful in my deal, yes I understand the additional costs associated with my long-term loan but this was the only way I could get into the right NEW vehicle for my uses. I can justify the extra money I'm spending on interest but thinking about the monthly cost of repairs I was doing on my less than 3-year old previous used truck.

I'm now covered under extended warranty for the entire 6 years of my loan - I think that's a win for me. But I won't be one of the others here that is trading my truck in for a new one in 18 months.

If you already have your financing setup before hand you should have a good idea of what your monthly payments are going to be... I would not dare to be a monthly payment shopper and not already have my financing setup... Those people usually get hung up on the payment and don't realize their rate is 10+% over 72 months...

Hi im new on here im looking to buy a new truck either a f150 5.4L or a trd tundra crewmax 5.7L. im trying to find out why the f150 has less horsepower,slower acceleration and is smaller in size? and will they have a full sliding back window like in the crewmax does? thanks my cousin got the f150 when he burns rubber the left tire stay still and the right tire spins do yall have the same problem?

Just curious as to what kind of truck your " less than 3-year old previous used truck" was and how you could have monthly repairs on such a new truck. Not trying to be nosey just curious.

it was a 2008 dakota. I had major repairs on almost every component possible within a year of owning it. When I traded it in best quote I could get was over $5400 to fix the remainig problems and make it roadworthy again.

No warranty (high miles?)

My Experience
 

I trade in for new vehicles about every 3 years or so, the last 2 have been due to family growth and me running out of room. I will never understand how anyone just shows up at a stealership and negotiates their price now days with most places utilizing the internet as much as they do...(not bashing anyone that chooses to, I just do not understand it). Most of the places around here usually post "internet prices" on their websites and list their trucks on cars.com which is usually a solid starting point for negotiations. The last 3 vehicles I have bought have been worked out via the phone and internet, I visited the dealer to sign paperwork and that was it. I bought my 2011 XLT 4x4 EB SCREW on Halloween(last day of the month) and I had been negotiating price for a week. I also traded in a vehicle(2008 Nissan Frontier Crew Cab Nismo 4x4), the dealership made me a solid offer(after arguing with them of course) without even seeing the vehicle. I made a little money on the truck and got the f150 for $12k below sticker/$7k below invoice($5500 was in rebates) including tax, title and fees(seemed like a fair deal).

One thing I will say about financing is that the financing guys are the most crooked individuals in the whole joint and make used car managers look like saints. This go around I financed through Ford Motor Credit to get the extra $1k rebate and he looked me right in the eye and told me I would lose ALL of my rebates(not just the $1000 financing rebate, but the entire $5500) if I refinanced the loan before I made 6 consecutive on time payments with Ford and then told me that they also REQUIRED I purchase GAP through the dealership. Well I bought the gap as I always have in the past, after negotiating price(still got ripped off at $400) but that was fine because I already had my bank ready to refinance the loan and the $400 will be refunded back as soon as my bank pays off Ford and I notify the insurer. But directly above where I signed the loan paperwork in BIG BOLD writing it stated something along the line of "There is NO early payment penalty for this contract, this is a simple financing contract and can be paid off at ANY time". I didnt bother pointing it out, I called Ford to verify and I refinanced the loan this past Monday after Ford got the account set up in their system and I had an account number to give my bank.

I am sure most of you know this, but for those who do not, stealerships make commissions on the loans they sell and depending on the finance rate they can stand to make a fortune(they also have the ability to buy your rate down if they so choose by giving up small fractions of their commission or "incentives" the financing company is kicking them for the loan, most do not). If you do not keep the account for 6 months they stand to lose that commission... hence the bold faced lies.

Just thought I would share my experience as I will NEVER enter a stealership to negotiate price, unless of course Al Gore decides to shut down the internet. Then I will have no choice :unsure:

Interesting thread. Here's my thoughts. I have never been one to trade until the vehicle was seven to ten years old. That was in my younger days when we lived pay check to pay check, and had only a certain amount of money we could pay monthly. Now, after all the years and many blessings that will change. I plan to trade this truck in 2 years for a newer, and higher end model. Hopefully the Lord will give me long enough to make it all the way to a Platinum. Life's short. It's hard to understand this until your looking back, not forward.

Good information about the refinancing. My dealer knew I would be financing immediately after the sale. Luckily, he didn't try to get me to hold on to the loan for any certain period of time. I then refinanced before I even received my first bill from Ford. In fact, I had to call Ford Customer Service in order to get my account information. Anyway, you posted some good info for those wanting to take advantage of the FoMoCo rebates.

What's the exact number you called? I may have to do the same thing this week. Thanks

I have the exact same issue. Bed drawer is in and the Plow too.

Same here! I can't understand how people can claim they got a good deal on a trade. It's like the dealer gave them a good deal but everyone else got screwed on their deal. Equity is equity. Either you loss the down payment you made, you get upside-down on your loan or someone gave you your truck for next to nothing in order for you to not take a beating when trading up. I always thought good dealer were when a person has had their truck long enough to have paid it off and still have low mileage on it when trading.

Obviously you haven't been married for very long :)

Normally hang-on to vehicles and sell them after SERVERAL years. Buy new vehicles either by paying $$$$$ or 0(zero)% financing.

Last impulse buy/trade was ...

• 2009 STX 4x4, supercab,4.6 3V that was purchased used Oct'2010 with 18,000miles.
  -for-
• 2011 FX4 OFF ROAD, supercab, 5.0 4V that was purchased Oct'2011 with 3miles.

Why?

• While cruising the local dealer's lot one weekend spotted the 2011 FX4. Figured it doesn't co$t anything to ask about a trade-up so stopped-in the next Monday to ask.
• With ...
  • rebates, incentives, discounts, etc..
  • trade-in. *Which was almost what I paid the year before after adding 10,000miles.
  The final co$t was a few thousand $$$$$ for what was IMO an MAJOR UPGRADE in performance, creature comforts, luxury ( spartan > lush ), etc..

After a month the 1st BONUS that I notice is that despite the increased weight, RAR difference ( 3.55 > 3.73 ), etc. the MPG is 15% better with only 1,200 miles on the vehicle.
.

Here's a theory. The number missing from a lot of these stories is what they paid for their trade in vehicle. If you overpaid for your current vehicle in the middle of the year with no rebates, and then trade it in at the end of the year with 4-5k in rebates and talk them down to x-plan price to boot, that could conceivably work. But then it's not so much a case of getting a killer deal on your trade, it's getting out of a crappy deal you made in the not-so-distant past.

"Call the Ford Credit Customer Service Center at 1-800-727-7000 Monday-Friday, from 7:00 a.m. to 8:00 p.m. (Central Time); Saturday 7:00 a.m. to 5:00 p.m. (Central Time). Please have your account number ready!"

That's what fordcredit.com says to do. You really don't need your account number. Just follow the prompts and eventually you can get access to your account. From there, note your account number. After that, you can register for online account management and access everything. Using that info, I got payoff and account info to give to the bank I was refinancing with. Went from 5.25% to 3%. Of course, rates continue to fall and are now at 2.75%.

Anyway, best of luck!

No matter what, if you are trading a truck every 2-3 years, you should be leasing... you can lease an XLT crew 4x4 for $200 a month up here in Boston.

some people just dont mind having a payment and driving a new car... if you can afford the payment, who cares if its gone in 5 years since your goign to just buy a new car anyway

i wish i could lease. have equity in my loan thanks to rebates and low interest rates, and buying it when the economy collapsed, and now i cant get out without really killing that equity... it is tough to go from buying to leasing without feeling SCREWED even for someone who would prefer leasing...

would much rather lease a King Ranch for 450 a month then buy an XLT for 450 a month... 450 a month is 450 a month... unless of course the truck isnt my DD and it will be in the yard for winter use only or hauling

For me the choice was fairly simple. I started looking at the new ones with their $3000 off plus negotiation which I was told may get another $2000. The price was still $37000 for a new Lariat with EB. So, I started looking used. All I wanted was a trailer towing vehicle. This certified pre-owned 2009 4.6L 3V supercrew XLT with towing setup and 29K miles for $25K spoke to me. I am not sure that it was a steal but I got a 6yr 100K warranty, one year on a new car warranty left and a truck whose window sticker was $37+K.

Hmmm . . a new wife every 2 -3 years would be nice too if they weren't so danged expensive!

I have had 10 new Ford trucks since 1988. 3 in the last 4 years. I take very good care of my trucks and they are only driven on roads. Usually they still will pass for new when I trade. The most miles on one was 60000. My main rule is to never pay down at time of purchase. Ford trucks hold their value very well, unless excessive high millage or unusually rough treatment. I have an 2011 screw lariat now. Traded an 09 screw lariat and was allowed almost what I paid for it.