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Is this a good trade?

 
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user106001 user106001
New User | Posts: 1 | Joined: 04/17
Posted: 04/20/17
02:37 PM

Hey all..
Hope this is the right spot to post this
Not an expert on the deep details of this kind of offer, so if anyone has any thoughts...
Every time I go to my dealer for some maintenance, the finance guy I dealt with tries to get me to trade out of the car I bought, into something a little newer...
Here's his latest offer..

Current vehicle : 2014 Nissan Altima. 49,000 Miles  (purchased December 2015)
Monthly Paymens  :  $288
Term :  72 Months
Monthly Payments Left. :  57


Finance Guy Offer :

2015 Nissan Altima   10,000 Miles. A few other bells and whistles including back-up camera
Monthly Pament :  Would be $310
Term : 72 Months
Plus getting the 7 year warranty etc

No other out of pocket expenses, excepting Registration etc... And turning in current 2014 Altima

Finance Guy says this is better for me, as it will show current car as paid off on my credit status etc...
And, interest is lower...

With that basic info, would this be an offer to consider? If I can swing the higher monthly payment?  
Getting a year newer car, with about 40,000 less miles, etc?

Thanks in advance...
J  

Just Try It1 Just Try It1
Moderator | Posts: 2196 | Joined: 08/14
Posted: 04/20/17
04:40 PM

something does not add up..

at 288 per month you still owe 16,000

at 310 x 72 you would Owe 22,300

what happens to the 16,000 you owe.. are they going to sell you a newer car for 6,000 dollars

something is wrong..  why don't you take the salemen aside with the finance guy.. and start selling them on the advantages of AMWAY..  they will get up and run out of the room.. which is what you perhaps be doing..

i really cannot be a good judge of what you should do.. there is not enough info and i am on the repair side of the shop doors.. i drive cars that are given to me when they are retired..  i think the most i ever paid for a car was 1200 bucks..  oh.. wait.. i did buy a 1970 dodge challenger 340, 4 barrel manual trans, T/A package.. i had to sell it almost instantly it was lemon yellow.. i could not go two days without getting pulled over by the cops.. not because i did anything wrong.. because they wanted to know if it was for sale.

i seem to be the only one answering questions here.  there are a few more people over at www.forums.motortrend.com but you should probably go offsite to

something does not add up..

at 288 per month you still owe 16,000

at 310 x 72 you would Owe 22,300

what happens to the 16,000 you owe.. are they going to sell you a newer car for 6,000 dollars

something is wrong..  why don't you take the salemen aside with the finance guy.. and start selling them on the advantages of AMWAY..  they will get up and run out of the room.. which is what you perhaps be doing..

i really cannot be a good judge of what you should do.. there is not enough info and i am on the repair side of the shop doors.. i drive cars that are given to me when they are retired..  i think the most i ever paid for a car was 1200 bucks..  oh.. wait.. i did buy a 1970 dodge challenger 340, 4 barrel manual trans, T/A package.. i had to sell it almost instantly it was lemon yellow.. i could not go two days without getting pulled over by the cops.. not because i did anything wrong.. because they wanted to know if it was for sale.

i seem to be the only one answering questions here.  there are a few more people over at motortrend.com forums.. but you should probably go offsite to


http://forums.motortrend.com/active-posts/index.html




https://www.reddit.com/r/whatcarshouldIbuy/new/  

Just Try It1 Just Try It1
Moderator | Posts: 2196 | Joined: 08/14
Posted: 04/20/17
04:47 PM

ps.. when you trade in or up.. they get another piece of the pie... and your older car to resell again.  

keep it and drive the wheels off it..

trade it up for something else...

i really don't know what you should do..  i would want to see all the numbers in PRINT before i did anything.  and why do they have a 2015 with only 40K on it.  that is the question.. is there something wrong that they traded it in..  was it crashed..  good body shops can make it really hard to tell..  

driftinJ driftinJ
New User | Posts: 14 | Joined: 04/17
Posted: 04/21/17
12:02 AM

Just Try It1 got the point there. It will not be a good trade unless you will get some features on the new one you need like extra space, tech features, etc. Also if these vehicles are known for issues and recalls, the warranty should worth it.  

williamassasin85 williamassasin85
New User | Posts: 5 | Joined: 04/17
Posted: 04/30/17
04:18 PM

I think you should be careful in choosing the newest car. You need to be informed about its condition, price and mostly, if you have advantages in trading on it. It is a good idea to trade your car to the newest model, but make sure that you are satisfied also on its price and service.  

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