I have calways been a chevy guy, and anyways I had a 97 s-10 4x4 ands traded it in on a car because of my wife...anyways after bout 28 days I decided i didnt want the car and tookk it back, they were hesitant but finally got me into a truck..a 2003 chevy silverado 2wd with 20,000 miles on it.. I do like it but its not a 4x4....

I think I paid bout 25090 for it not counting the interest..the truck was 20,000 and the 5,000 is for the negative from my s-10, how would I go about trading it in? I am payiong about 500 a month on it, which i dont care for much either, and want to try and get a ford..... because FORD= For Only Redneck Drivers

and boy am I a redneck...

My cousin used ot have some bada$$ ford 4x4's that made it through all kinds of gooey indiana mud, and deep deep creek crossings, and boy they were great, but he slipped into the look of the new dodges..

so anyways back to my chevy, I am trying to figure out if trading it in on a 2004 when they come out? can it be done, or maybe a 2003 4x4 since they may have rebates to help get rid of some of the negative? my payments will also be higher huh?

please help me

also whats up with like when the 04's come otu the 03's might have 0% for 60 months? HOW GOOD WOULD YOUR CREDIT HAVE TO BE TO GET THAT? sorry more making this long, but I need a 4x4!!!!

thanks for all the help guys, you are all great!


-Ryan-

 

I wish I could help you out more, but until prices are official for the new ones, I really can't tell you much. I can tell you that they will be giving heavy discounts on the 03s that they can't sell but I can't tell you about credit anything for em...

Not for a lil while at least...

 

You're going in the hole again. You took $5k loss on the S-10, and expect another $5k on the Silverado. IMHO, $10k loss for a 4x4 is not worth it no matter what the vehicle.

Say you now owe $23k. If you try to trade in this Siverado, expect $15k to be what the next dealer will give you. That $8k more on the loan for the next truck. Say you find a nice Ford 4x4 XLT for selling for $25k. Add $8k for negative equity in the Chevy and you are now financing $33k. Over 5 years at 5% interest is about $620/mo. Have you ever thought about leasing if you change vehicles so often?

Anyway, the new 2004 F-150 will have a selling price about $3-5k more than the current ones because of raised prices and lesser or no rebates. Then you'd be financing that much more for about $700/mo. IMHO, an F-150 is not worth $700/mo for 5 years. Only you can answer if that is worth it to you.

 

Ok I should weigh in on this cause I'm the trading fool! As you can see by my sig I (HAD) an 01 F150....But I traded it in on a 2001 Cobra....and 8 months later got me an 03 F150!

When I traded the cobra I had about 5K in negative equaty. The truck I bought stickered for $30,500, I made the dealer sell me the truck @ www.carsdirect.com price which was $3K below Invoice a total of $6K below MSRP because of the Factory Rebate of $3K. When it comes to financing @ 0% you should have no problem as long as your beacon score is above 620.

I almost forgot to mention...Hold to your guns as far as what you have to have on your trade in....the dealers will accept a loss to make the deal happen cause they have tons of 03 F150's that they have to sell!

Make them show you there blackbook which has used car values, make them give you clean value, accept no less, don't settle for average wholesale!

Good Luck!

Adam

 

haha, talk about trading, ive had 4 2001 f150s, 3 2002s and 2 2003s in the last 3 years.

 

DAYMN!!!!!!!!!!!!

 

i get to buy on the dplan, so i usually pay the difference (2000$ or so) each time and keep my payment about the same.

 

whew!!!!! 700 a month, I dont know if anything I want is worth that much or not.... I dont know about leasing, what exactly is that? isnt that where ya pay like a small amount monthly then after a certain amount of months ya have to come up with like soo much money or finance what ya owe on it? if so is it too late to do financing? is finacing worth it? also how can I get my credit report for free?I want to check my credit but I heard each time ya check it your score goes down?? is this so? if so mine must be low, because I had a dealership that checked my credit like 8 times, which was wrong...I think my credit score right now is like around 634-640..... what exactly are the 0% finacing for when the new ones come out??? what do ya'all think bout financing???
I guess I really miss a 4x4 becuase I do, and everytime I see a lifted ford I get sad even if its a older chevy or a dodge. and It really makes me sad when I see all them mudding out in a field when I pass it, but hey what can I say...
ahhHH!!!! why did I decide t0 get a 2x4

thanks for the help everyone and I appreciate all of it I can get!

-Thanks-

 

The only way you're gonna possible come out of this not buried even deeper in dept than you were before will be to stick wit dat Chebbie until it's paid off, then try to hold it for a long time after that while you accumulate cash. Otherwise you will just keep carrying this negative equity from one vehicle purchase to the next until one day way down the line you find that you still 20 grand on a 7 year old truck that was worth 25 grand when you got it, which you purchased for 35, which is now worth like 60-70% what you owe. And you will still be makin those monster car payments every month while high cost stuff like timing belts and tires are wearing out.

So the financially wisest thing is to stick with the Chevie for a real long time. No combination of financing and incentives is gonna change the fact that you'll go in in debt and come out even more in debt. IT's up to you to decide if diggin that hole a little deeper is worth it to get what you want now. And is it what you will still want in 6 months anyway?