Trade In Options

[AKcobra]

I bought a 2011 F150 ecoboost back in November of last year. I bought the truck because I was told I would need a truck for work. I went ecoboost because the job required a lot of driving.
Turns out the job isn't so lucrative, and I was offered another job making much more money. Now I don't need the truck. In fact the truck would just sit there and waste. My wife wants a new mustang and she deserves it. She's been driving a 2004 VW that we own outright for awhile. She has no desire to drive the F150, and I would rather pay for something we are actually using.
If I take it to a dealer to trade in the F150 for a mustang how big a hit am I going to take? Do have any other options? Any recommendations?

 

[Instigator99]

Since you don't need to sell it right away, take the time to sell it private party. Don't let the stealership bend you over on trade-in.


-Eric

 

[Ibleedblue13]

Since you don't need to sell it right away, take the time to sell it private party. Don't let the stealership bend you over on trade-in.


-Eric

+1. If you can wait then definitely sell privately. If you trade it in to them they will need to make a profit on it which would be yours if you sold it on CL or something similar

 

[AKcobra]

Thanks I was considering this route. Just seems like most people looking for a vehicle in that price range don't cruise Craigslist, but it's worth a shot.

 

[Entrenched]

Don't forget to take into account the tax credit. Also remember that Trade-in value is negotiable.

 

[4a7191a]

trade in but dont bend over and take it, let them know that you dont NEED to trade it in. they may come up on the offer. since your buying another ford, take it to the stealership you bought it from. they might work with you a bit better.
if anything else play the waiting game with it. post pics of the truck at work and your banks. most are willing to let you do so

 

[Ironhand]

Ill take it!

 

[mustangted06]

tax credit?

 

[Sinister04L]

tax credit?

He's talking about the reduced tax you pay when you trade a vehicle in. You don't pay tax on the full amount of the new car you purchase, you only pay tax on the difference between the new vehicle price and what you get on trade. For example, if you buy a vehicle for $30,000 and get $20,000 for one you trade in, you only pay sales tax on $10,000.

 

[canibus]

My wife wants a new mustang and she deserves it. She's been driving a 2004 VW that we own outright for awhile.

your poor wife:rollseyes

 

[AKcobra]

your poor wife:rollseyes

She works hard everyday and doesn't complain about the VW, but said she would like a new car. Since we now have an F150 that we don't necessarily need why not let her get something she wants. She lets me buy stuff for my cobra all the time. Didn't bat an eye when I went to pick out a new truck (even if it was for work). It's her turn to have ome thing nice if it's financially feasible.

 

[AKcobra]

Ill take it!

Perfect! Problem solved. :beer:

 

[canibus]

She works hard everyday and doesn't complain about the VW, but said she would like a new car. Since we now have an F150 that we don't necessarily need why not let her get something she wants. She lets me buy stuff for my cobra all the time. Didn't bat an eye when I went to pick out a new truck (even if it was for work). It's her turn to have ome thing nice if it's financially feasible.

Don't get offended, I just thought it was funny how you made an 04 sound like a bucket.

 

[AKcobra]

Not offended. Just didn't see how I made the VW seem like a bucket. I merely stated she had been driving a 2004 VW to illustrate that she was deserving not demanding. The statement also showed that we don't need to get rid of it because she has a decent ride, but we would like to get her something nice. In fact I would probably keep the VW around. Wasn't trying to sound suffering.

 

[canibus]

Not offended. Just didn't see how I made the VW seem like a bucket. I merely stated she had been driving a 2004 VW to illustrate that she was deserving not demanding. The statement also showed that we don't need to get rid of it because she has a decent ride, but we would like to get her something nice. In fact I would probably keep the VW around. Wasn't trying to sound suffering.

You start a thread about getting a new car, so why would I imply that you're suffering. You obviously have the funds. I simply found humor in the way you worded the OP.

 

[Fuerza]

You start a thread about getting a new car, so why would I imply that you're suffering. You obviously have the funds. I simply found humor in the way you worded the OP.

I thought that was pretty entertaining too. I'd look for a discounted new 2012 Mustang, with the 2013's hitting dealerships you might be able to break even with discounts. Just a thought.

 

[AKcobra]

Well after looking around today and exploring some options we are going to keep the truck for now.
For the record the VW is a decent set of wheels. Wife will continue to rock it for another year or so then we'll get her something newer.
Thanks for the advice, sorry to sound like a d-bag in OP.

 

[x NOODLES x]

IMO that is a wise choice. :beer:

 

[Silver03Termi]

He's talking about the reduced tax you pay when you trade a vehicle in. You don't pay tax on the full amount of the new car you purchase, you only pay tax on the difference between the new vehicle price and what you get on trade. For example, if you buy a vehicle for $30,000 and get $20,000 for one you trade in, you only pay sales tax on $10,000.

That's not true in all states, and in some places it's only good if you get a brand new car (Ohio).