To Trade or Not to trade.....thats the question

[browntown3]

Hey guys been a few months since ive been on here, Thinkin about trading the ole F350 in on something a little smaller.......Heres the deal, I love the truck and dont want to get rid of it, gas isnt that much of an issue since im only putting around 800 miles on it a month(if that) but its the payment thats hurtingme right now. I pay 360 a month which is not that bad but im paying another 100 a month for a $1,200 dollar loan i had to take out to get the torque convertor fixed. That loan will be paid off in January.. So its like im paying 460 a month which is a little more than i want to be paying right now especially with my wifes student loans and her car payment. I owe around 14,000 on the truck and if i try to trade im gonna be a little "upside down" but the truck has 117,000 miles on it now and im afraid if something major was to happen i wouldnt have the money to fix it.....(already had a spark plug blown out 2 weeks after i bought it) $800 bucks but my dad was friends with the owner of the dealership and he took care of that for me......anyways back on topic.....I only tow an 10 foot utility trailer and a 19 foot camper so i dont need anything as big as an F350.....what would you guys suggest i look for ? Im thinking about a Titan (found a 2004 4x4 with 72,000 miles for $10,900 or something liek that ( I know you guys will probably say and F150 but ive searched the area over for a decently equipped on and there isnt many to be found. ...OR should i just hang on the the ford maybe refinance it and pay some more down on it ? Sorry for the long post but just wanted someone elses opinions from someone that might have been in my situatiion before.....Thanks guys

Oh sorry i have a 2002 F350 XLT Crew Cab 4x4 5.4v8 SRW, Definatley will need at least an extended cab( have 2 dogs that go with me almost everywhere and maybe a little one will be on the way next year ...........thanks again

[Beerstalker]

I personally say stick through it and cut back anywhere else you can. Trading the truck in is only going to hurt you in the long run. Cook dinner at home a few more nights, take your lunch with to work, try to drive less. Stuff like that can easily save you $100 a month for the next few months.

[Flipper1940]

For most cases, right now is the wrong time to try and trade in a truck. The screwing you take on trade in value is gonna get rolled in to the new loan....that cheaper car is cost you more than what you have now.

Even big repairs will probably be cheaper than the trade-in screwing.

[suzuki0702]

you think your payment is going to be cheaper with that 11k dollar truck? i bet its higher! stick with what youve got and enjoy it.

[zx250]

Sounds as if you are somewhat upside down now. With truck prices falling off, I think you should keep what you got and work on getting it paid for, then if you still want to trade, look again. Maintain your truck right and it will stay with you for a long time.

[tex25025]

I say keep it. As little as you drive yours, the hit that you take for trade in will more then enough to pay for a couple of yrs of fueling(even considering increased fuel costs). Right now it's a buyer's market, not a seller's. This is not the logical time to sell. Either it will pass or people will get used to it and move on(like they always have).

[browntown3]

Thanks for the replies guys......seems like everyone thinks i tough it out and keep it.........thats what im leaning towards again.......Every time i drive it It always makes me want to keep it!!

[ramblincowboy]

Been there, done that, way too many times. If you like your truck, try to stick it out. You mentioned needing cab space for your dogs and possibly little folks in the future - trust me, you'll regret anything any smaller.

I went through the plug blowing thing with my '99 F250sd 5.4 . We put inserts in three cylinders in 6 months (after changing the original plugs at 175K miles...) and I got scared and traded it off. If I'd known then what I know now (what I learned here on FTE) I'd have kept it, because at 190K miles the motor was still tight and quiet, used no oil, leaked no oil, and the truck was still in great shape. Don't let it scare you, read up on it - you can prob'ly prevent future blowouts, and the inserts aren't that terribly bad either.

[Super Steve]

Keep it!
No one is buying anything these days(except prius) and dealers know it.
You WILL NOT be able to sell yours to a private party, the dealer will probably give you 7k, so you will probably end up financing 20k.
14k owed
-07k trade in
+11k titan
+02k taxes and other dealer bs
= 20k
Also, the Titans do not get very good fuel mileage, you probably get better in your truck that is much bigger and hauls more.
I contemplated trading my truck in about a year ago before things got real ugly and one dealer offered me 28k, which I thought was ridiculous, and another one a couple months later offered 18k. I would be lucky if I could sell mine for 18k these days.
Sorry about the long post, but I have a motorcycle for sale, a townhome for sale, and just lost another 10k in my 401k last month.
This market is killing me!

[NewEnglandHerdsman]

I pretty much agree with the consensus here - now is the time to be buying a truck, not trading one in... If you really want a 150 though, keep looking - others are trading them in and the lots are getting more and more of them...

[redford]

Hold on to your truck. If you think $460 a month is a steep payment, you should find out what the payments are on a new Super Duty.

[johnf350diesel]

i wouldnt trade bro ud take it on the trade in value.

[jeffdoerr]

I pay about 500 a month now on my v10 truck. I would not even consider a trade at this time (I actually could use a 1 ton), but I know for a fact that F150s are cheap, at least around here. What was $17,000 last fall is now $13,000 (or less) I came across a nice loaded-up 05 for about $10,000 a few weeks ago. For what you pull, you should be at a F150, not a 1 ton, unless you pull 20k trailers. As you get older, you learn to get what you need, not what you want.....

[tex25025]

Originally Posted by jeffdoerr

As you get older, you learn to get what you need, not what you want.....

I don't think that's all that true. I see alot of old timers with sports cars on the road and I'm sure that they don't need a 5 second car to get to the grocery store especially when they go slower then the speed limit. I actually think the reverse is true more often then not. Older you get the more you want to enjoy yourself especially since you can't take it with you. That I believe is why you see more old timers with fast sports cars rather then teenagers with them(even though I'm sure they also want the 5 second car, just can't afford them).

[JKBrad]

Only the older guys can afford the insurance. Or else you would see a lot of younger guys driving 5 year old corvettes.

When I was 23 I had sense enough to check on the insurance payment for a brand new 25th anniversary Mustang GT. The insurance would have cost as much as the payment, a whopping $300 a month.

Anyway. My '08 V10 is a keeper. Every time I drive it, I'm glad I got it. Even though I don't pull the boat but maybe once a month these days.

I bought a stripper Mazda3 for getting to and from work. The $165 a month payment is easy to make since I now save about $300 + a month in fuel. (that takes fuel for the Mazda into account) Sometimes spending money saves you money.

Keep your truck, you'll be glad you did. We've been through these fuel price problems in the past, and came out alright. The same will happen again.

I just wish I was buying a truck now, instead of having bought it last year. There are some great deals now.