About Trading In

[BoostRabbitGT]

It's a simple, if weird question. Is it possible to do an order and trade-in on the same day, but then keep the trade-in car until you take delivery of the order car? Or is it better to order first, then upon delivery do the trade-in? (My trade-in car currently serves as my daily driver.)

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[Adeel3466]

Most dealerships won’t allow you to continue driving the car you are trading in and the value of the trade will be determined on when you actually give them the car.

 

[Skye]

I can't see the dealer allowing you to continue to drive the car.

At the time of trade they are committing to the value of the trade. Any additional wear reduces value. Driving the vehicle further also increases the risk of mechanical damage or accident. Finally, it's in the best interest of the dealer to get rid of the trade as quickly as possible, to turn their inventory quickly. The vehicle continues to lose money every day it ages.

 

[LETHAL]

LOL...

Until paper work is signed for a car that is on their lot, you don't owe the dealer a thing as far as your trade. The dealer can't even do a purchase order till they have the new vehicle on hand. I am trading my Timberline, and have been driving it since my order. Will you lose some value on trade, maybe. I did a KBB appraisal, and putting on 3,000 miles to what I have now lowered the trade in value $600. The value will likely go up as fall gets closer and SUVs are in demand . If it gets wrecked, that's what insurance is for. If'it is totaled, that's what GAP is for. That makes the new purchase even easier, unless you are losing the equity.,

 

[BoostRabbitGT]

Looking back this wasn't the smartest question I've ever asked. Regardless, thanks everyone for your honest input. I'll have more background to provide later tonight as to why I asked in the first place.

 

[JAM486HP]

An order is not a purchase, so order it, drive your car, then when the new car is ready to complete the purchase, add the trade.
Of course if you can sell the trade you'll probably double what the dealer would give you.

 

[BoostRabbitGT]

So, further context for those who'd like it...

1. If you haven't read any of my posts on the forum, I daily drive a '19 EcoBoost.

2. After August/September I will owe less than 10K on it. I'm paying zero interest as well. Right now I've a little over two years left to pay off my EcoBoost in full.

3. There is about 8680+ on the odometer. I'm not a throttle-heavy type of driver. I think I drive around 100-200 miles a month, possibly 1K-2K miles a year, give or take. My commutes are typically less than six miles a day for work.

4. Generally I still want to keep enjoying my EcoBoost until I'm done paying for it. But I am also curious how much I'd get for it if I were to trade it in, and then how much of that I could use to pay off the rest of the car payment.

That's all I've got so far. If anyone has questions or comments please don't hesitate to say something.

(written by the guy that unironically enjoys his EcoBoosts active exhaust.)

 

[Adeel3466]

So, further context for those who'd like it...

1. If you haven't read any of my posts on the forum, I daily drive a '19 EcoBoost.

2. After August/September I will owe less than 10K on it. I'm paying zero interest as well. Right now I've a little over two years left to pay off my EcoBoost in full.

3. There is about 8680+ on the odometer. I'm not a throttle-heavy type of driver. I think I drive around 100-200 miles a month, possibly 1K-2K miles a year, give or take. My commutes are typically less than six miles a day for work.

4. Generally I still want to keep enjoying my EcoBoost until I'm done paying for it. But I am also curious how much I'd get for it if I were to trade it in, and then how much of that I could use to pay off the rest of the car payment.

That's all I've got so far. If anyone has questions or comments please don't hesitate to say something.

(written by the guy that unironically enjoys his EcoBoosts active exhaust.)

So I guess the obvious question is how much left you owe and how much is the dealer giving you for it

also are you planning on buying another eco boost or gt/dh and how much additional money you have to put down

Of course you don’t have say any information you’d like to keep private

 

[BoostRabbitGT]

I haven't decided which dealer I want to trade-in my EcoBoost to. I have a dealership 10 minutes away from my house, and another one up north an hour away. But there's a catch...before I knew anything about ordering cars and such, I bought my EcoBoost at one of the dealerships in Vegas. My first car at that. I'm looking to trade-in (trade-up?) to a GT, and wanting to put down 10K at minimum (15K tops, but only if it's absolutely necessary, I'm not THAT kind of rich).

I'll leave it at that to maintain my privacy.

 

[LETHAL]

So, further context for those who'd like it...

1. If you haven't read any of my posts on the forum, I daily drive a '19 EcoBoost.

2. After August/September I will owe less than 10K on it. I'm paying zero interest as well. Right now I've a little over two years left to pay off my EcoBoost in full.

3. There is about 8680+ on the odometer. I'm not a throttle-heavy type of driver. I think I drive around 100-200 miles a month, possibly 1K-2K miles a year, give or take. My commutes are typically less than six miles a day for work.

4. Generally I still want to keep enjoying my EcoBoost until I'm done paying for it. But I am also curious how much I'd get for it if I were to trade it in, and then how much of that I could use to pay off the rest of the car payment.

That's all I've got so far. If anyone has questions or comments please don't hesitate to say something.

(written by the guy that unironically enjoys his EcoBoosts active exhaust.)

We traded a 21 Ecoboost Mustang with 11k on it back in May for the Bronco. It wasn't bare base but not a premium. We were given $27k for it. This may help you a little, I know yours is older though but with less miles then ours was.

 

[BoostRabbitGT]

We traded a 21 Ecoboost Mustang with 11k on it back in May for the Bronco. It was a 201a car so it wasn't bare base but not a premium. We were given $27k for it. This may help you a little, I know yours is older though but with less miles then ours was.

Mine is a 101A as well. (I'm assuming 201A was a typo.)

I'm anticipating getting $20K-$25K if I were to trade it in this year or next. $30K would be pushing it whether to a dealer or a private sale (which I have no experience doing either, if my context didn't already reveal).

 

[LETHAL]

Mine is a 101A as well. (I'm assuming 201A was a typo.)

I'm anticipating getting $20K-$25K if I were to trade it in this year or next. $30K would be pushing it whether to a dealer or a private sale (which I have no experience doing either, if my context didn't already reveal).

LOL yes 101a ..I deleted it before I saw this.. LOL

I think your numbers are realistic. Esp out west.

 

[Adeel3466]

I haven't decided which dealer I want to trade-in my EcoBoost to. I have a dealership 10 minutes away from my house, and another one up north an hour away. But there's a catch...before I knew anything about ordering cars and such, I bought my EcoBoost at one of the dealerships in Vegas. My first car at that. I'm looking to trade-in (trade-up?) to a GT, and wanting to put down 10K at minimum (15K tops, but only if it's absolutely necessary, I'm not THAT kind of rich).

I'll leave it at that to maintain my privacy.

I’ll preface this with that I am not an expert or have any professional financial experience but the thing you wanna figure out is if the value that your eco will drop over the two years will be greater than what is owed currently

if it drops more than owe you actually make a profit trading in now or a loss if it doesn’t now how much of a loss will be your “cost” of getting a GT now or later if that makes sense

I am assuming you don’t have one on order so you will have plenty of time to try to sell privately and it’s pretty simple to do and if doesn’t work out you can always trade it in. It really is just as simple as listing it on Facebook marketplace and/or other sites but it is definitely a waiting game and can take weeks maybe months.

if you don’t wanna worry about that just trade it in when your GT comes in but you will leave money on the table, and money down is entirely up to you, you don’t have to put anything if you don’t want (unless you don’t qualify for the whole loan) it will just make your payments lower.

 

[Q6543]

The day the first batch of 24s hit the lot… that’s when trade in value really starts to deteriorate.

We are in an inverted market since Covid… take your car to the dealer… whatever they offer you… that’s it. Plain and simple… with rates so high private party is LESS than what dealers are paying.

I.e…. A dealership offers you 23k trade in… you’re maybe only gonna land 21-22K private party sale.
Simple as that.

 

[BoostRabbitGT]

I suppose my next question in the meantime is...say I trade-in and the dealer, as unlikely as it sounds, offers to pay the remainder of my car payments. How does that work? Or if they give an offer without paying the remainder...how would that affect my ability to pay off my car? (I've already got autopay on my EcoBoost since I'm not paying interest on it.)

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