Negative equity is a pain, when making this payment if able, try sending extra money each month, that goes immediatly to principal and will negate your daily finance charges, your per diem goes down with each payment because the ballance owed has lowered, in your first year you pay the most to interest. try doubling a few payments this year and pay a bit extra each month. that may put you in a better position to refinance for a lower rate because the balance owed is closer to vehicle cost, in the end of it all you'll shave a few payments, and save a few bucks. hope this was helpful.

 

my interest rate dropped 3% and i took almost $200 off my payment. im doing good so far. i had over $10k of disequity and ended up rolling over only $1k which was a relief. i combined my refund with the rebates and it took a huge chunk off. the dealer was willing to work with it and drop the price down and take a small hit in their profit to help me out. in the end, i took about $7k off my total debt to income ratio. im gonna put some plans into motion to pay it down quicker once i take out a couple small debts.

 

Zach, don't sweat it, you'll figure out a way to make it work, and enjoy the truck while its new. I purchased a truck on the shear fact that I was pissed at two other dealerships that said I couldn't get the truck I was looking for at the price I wanted. I saw an add truck with an extra $1600 in features for the same price as what the other dealers were offering me, I bought the nicer truck and took $500 less than what I wanted on my trade within about 15 minutes of being at the dealership. I started thinking about it that night, and made myself sick over the $500 and extra features "I'd never use", until my wife kicked me in the butt and said get over it... Now I am proud of my purchase and looking 24/7 for more things to add onto it.

 

They buy isn't so bad, the extra warranty and service is where they got you big time.

 

"Buyers-remorse." It runs in my family too!!!! I was sick for 2 weeks after buying my 05!
-Matt

 

Recently purchased 2010 F150 SCrew Platinum. Living in the DFW Metroplex is a great advantage and so is the Internet. Had three dealers bidding against each other. Using the Internet kept the emotion out of the buying experience. All dealer interaction took place via email. Made my deal and visited the dealership the following day to finalize the paperwork. Sticker price was $47,685; lowest offer was $41,342 before rebate ($2500) my trade ($3300) and downpayment ($2000). When it came to the "up selling" process, I just looked at the finance guy and said "Don't even try." No "extras" (extended warranty, dealer services, etc) purchased. I had my previous F150 Lariat (189,000 miles) for over nine years with no issues other than regular maintenance. I have high expectations that the 2010 model will do me the same. I'm happy with the deal and extremely pleased with the new truck. Taking the emotion out of the buying experience and using the Internet/email really made the difference for me.

 

A Ford ESP is not an "extra". It is in place to protect your investment. You can negotiate this down just like you negotiated down the price of your truck. If you plan on keeping your truck longer than 5yrs and/or 60k miles, it is worth investing in. Whether it is a Ford ESP or not...

 

stoffden,

Living in DFW is great for these deals, I agree. I got a simliar deal, only on a Lariat. About 9K off sticker total. The internet is the way to go. It improves the buying experience so much. I had printed out the sticker and done all my reasearch and pre-dealing when I went in. All I had to do is look at the truck to make sure it was the one I wanted. The rest was easy, unlike the old days of haggling, sales person running back and forth to the Manager, etc.

I also bought an extended warranty for a very good price. It is cheap insurance. One of the things that made me do it was all the bells and whistles on these new trucks, like NAV, heated/air cooled seats, cameras, etc. That stuff is expensive to fix I'm sure. I think the warranty (at a fair price) is well worth it.

 

Ok, I stand corrected. But won't I have an opportunity to purchase the extended warranty prior to the expiration to the original warranty?