jwest
Full Access Member
Trade $ will be much lower than you think. Why not just wrap the white one? Interior colour the same?
lol
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Trade $ will be much lower than you think. Why not just wrap the white one? Interior colour the same?
I only used ATT as an example. There are many very conservative stocks/mutual/ETFs that have good yields.
But keep in mind that 1.8% is very cheap money. Interest rates are going up and you’ll not likely ever get a loan at that rate again.
The only way you’re gonna come out of a trade with a *** of cash is if you wind up with a vehicle that is worth a lot less and you’ve taken the difference in cash.
That *** of cash is going to be very expensive money since you’ve given up the equivalent amount in vehicle equity.
Some additional background:
I may be widely over-estimating the value of my current vehicle, and have not yet taken it in to see what they would offer.
I have however looked at every CPO LR4 for sale across the country. The 15s and 16s with my same options are listed from 59k-68k. Try finding a Lux HD package blackpack with the Land Rover manufacturer warranty right now. Of the ~200 CPOs available right now, we are talking single digits that meet the same criteria (found 4). (again, from my research... still could be way off)
From regular pre-owned vs CPO, seems like I am seeing around 6-7K value there for the CPO.
So my rough math of ~36k owed and (hopefully) ~56k trade-in and a ~36k purchase price(listed at 39k) puts me closer to the $16k cash out of pocket to buy the other car with no loan.
I may be crazy...
I have to drive past the dealer to get to the airport tomorrow and may see what they say, but there is no way I think my current vehicle would be worth less than $50k. (have 65k miles and 4 years left on bumper to bumper, transferable manufacturer's warranty.) I am curious @jwest if the ones you saw on auto trader had that? If not, that would match what I saw on Landrover.com of the difference between vehicles with no warranty vs ones with the warranty. (difference of about $6-7k)
Morale of the story? You have a payment now. You signed up for that payment. Unless you can't make the payment anymore, stick with the devil you know rather than the one you don't.
I will never "trade down" to "change" again - sell what you have outright to private party if you want and then go shopping for what you need if you really have that itch.