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Trading up on a truck?

Discussion in 'The Lounge' started by laketex, May 29, 2003.

  1. laketex

    laketex 3/4 ton status

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    Will dealers do this? I've got an '02 Dodge ram that bluebooks at 22K on trade. My wife wants a 4.0 TJ for a dd/commuter vehicle. If we buy her a jeep new and trade the dodge on it, there will be around 10K that is left over. Do I get this back as cash? Or do they pay my old loan and start my new one or what? I owe 23K on the truck. Been trying to sell outright, but trying to figure out the best bang for my buck. /forums/images/graemlins/crazy.gif
     
  2. Blaze

    Blaze 1/2 ton status

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    I knew a guy that traded in a 911 Carerra on a new Jeep and they gave him a check for a shitload of money. Don't know if this is the case everywhere, though. /forums/images/graemlins/confused.gif
     
  3. JROSS

    JROSS 1/2 ton status

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    more than likely the money they give you for the truck will go towards what you owe. My wife and I did a similar thing when we traded a grand am in on a 4 runner. They gave us 10g for the Grand Am and we owed 11. We had to come up with the 1g difference Then we just financed the 4 runner on a new loan.
     
  4. laketex

    laketex 3/4 ton status

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    hmmmm, does it still come off your tax?

    I dont mind the cash thing, but I'd really like to get my payments down to around 300 instead of the insane 500 I'm paying now.
     
  5. Stickseler

    Stickseler 3/4 ton status

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    On my wifes exploder we took the 1000 we owed on the van an rolled it into the new loan, the dealer was giving 7k off sticker so it didn't hurt at all.
     
  6. Shaggy

    Shaggy 3/4 ton status

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    <font color="green"> You'll be very lucky to get what the truck books at in trade, in fact I've never even heard of anyone getting book value on a trade in. The way the new car market is right now it's even harder, what with 0% financing being offered on lots of new vehicles. I'd venture to guess that they wouldn't give you any more than 20k on it in trade, if even that. They will take the truck and pay off the loan, then roll the difference into the financing on the Jeep. So if they do give you 20k for the truck, you'd end up with an additional 3k tacked onto the price of the Jeep. When you owe more than a vehicle is worth, it's called being "upside down" on the loan, BTW. </font>
     
  7. MTBLAZER89

    MTBLAZER89 3/4 ton status GMOTM Winner

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    Ye sbigger dealers will give you $$. When I traded in my Dakota I owed $8k they gave me $17k for it My Blazer was $7k paid of the Dakota and gave me $2k. Best trade I ever made. /forums/images/graemlins/thumb.gif

    -Brian
     
  8. laketex

    laketex 3/4 ton status

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    Damn i guess i need to do some heavy reasoning on this one huh? I did the blue book "trade in" value, not the standard one. Are you saying that it'll go for even less? I'm pretty stuck between a new or used jeep...just not sure. I get 7% below invoice on new, but it may still be too much. hmmmm.....decisions decisions.
     
  9. Shaggy

    Shaggy 3/4 ton status

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    <font color="green"> I've never had a dealer give me wholesale book, but maybe things are different in CA... That said, with interest rates as low as they are on new car loans, dealers have little interest in used cars these days since they have to be priced so low to sell compared to a new one. </font>
     

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