Doesn't necessarily mean you have negative equity. You could probably sell the car for more private party. Harder to do if it's not paid off tho

 

So the dealer called and quoted me a price of $37, 500. This is including my trade in and Texas taxes (6.25)

Fx2. 5.0
3.31 gear ratio
Luxury package
Sunroof
20 inch wheels
Spray in bedliner
Tint

I am almost tempted. What u guys think?

 

So your original price was like 33,690 .... And now it is 37,500 with your trade and everything. So you are still rolling negative equity into a new truck?

Not smart, but hey its your money. Just imagine how upside down you will be in two years when you want a 2015?

 

Yea...point taken. I have always wanted a truck and I know it makes more sense financially to wait. I just don't know how much longer I can.

 

I know man.... I know.... DISCIPLINE!!!! Just sit tight and save!

Good things come to those who wait!

 

That they do. Make a tighter budget for a while and save your *** off! I bet in six months you could save up more than your negative equity if not pay it off! Check out Dave Ramsey his tips can help a lot with your budget

 

Another update. So someone suggested I price shop and thats what I did. I located a dealer who was willing to give me 21k for my car. Here is the breakdown

Fx2
Ecoboost
3.55 gear
Lux package
Appearance package
Trailer brake
6 disc changer

Total price would be 38k. How does this sound

 

well 38k is more than 37.5k so uhhh....sounds like the same deal but higher

 

Well the reasoning I was considering this was because it had so many more options than the other one and they were giving me 1500 more on my trade in

 

I wouldn't do it until I had a pick-up (no pun intended) of at least 2 grand in positive equity. i.e. They want to give me 22 for my car, and I only owe 20.

In the latest and greatest deal you got, you are still financing negative equity and all of those options aren't anywhere near enough to value the vehicle significantly higher when you want to trade again. The money has to come from somewhere for them and they don't care where. So they over allow on the trade, they nail you on the truck or vice versa.

Financing negative equity means you are still paying for a portion of the car and the whole truck.... Are you keeping a portion of that car? I hate to be harsh, but having a slight amount of financial prowess will reap dividends throughout your life. Credit Card debt and Auto debt are BAD.

 

Yes man please don't do it you can't afford it. Yeah you can get credit for it but you just can't afford it. Pay off your car first.

 

Thanks for the info guys. I gotta be honest though .....I still might go talk to see if I can get a better deal. If not then I will walk

 

How many times do we have to ask.

WHAT IS THE MSRP?

WHAT IS THE MSRP?

WHAT IS THE MSRP?

WHAT IS THE MSRP?

WHAT IS THE MSRP?

WHAT IS THE MSRP?

WHAT IS THE MSRP?

WHAT IS THE MSRP?

WHAT IS THE MSRP?

WHAT IS THE MSRP?

WHAT IS THE MSRP?

WHAT IS THE MSRP?

 

Well go check it out but I wouldn't buy anything unless I had atleast 1000 saved up as an emergency fund plus a good down payment for what Im buying.

 

The MSRP is $43,930 ( he sent me the window sticker)


I have money saved for emergencies and retirement. Money I use for my car is basically just extra that I have after everything is taken care of. I could do a down payment but I really dont want to.