I am wondering if I am getting a good deal on trading in my 2010 F150 FX4 for a 2012 FX4. My current truck is a 2010 Black FX4 Crew Cab 4x4 with just over 22,000 miles on it in excellent condition with all the options except for Navigation and Tailgate Step, I also have a spray in bedliner and a few other add-ons that cannot be transfered to the new truck or be taken off as I don't have the stock parts (Billet Grille, Bilstein Shocks). The sticker on mine was just under $43,000. The new truck is a 2012 White FX4 with all the same options as mine plus the new options on the 12's plus Navigation with a sticker price of $46,430. They have a trade difference of $9,800 (includes a Line-X spray-in bedliner), they don't have the truck in stock and had to locate it at another dealer. The rebates I qualify for are $4500 and they said invoice is $42,448 on that truck. So they told me the sales price would be $38,198 and that includes the fees to get the truck. I owe just over $21,000 on my 2010 and am just wondering if that is a good deal or if I could get a little better than that? If I do the calculation that would be a trade-in value of just over $28,000.

Any advice would be great.

Cody

 

Doesn't sound too bad. I'm also trading mine in right now and here are the numbers I've negotiated to:

New vehicle cost: $39936.23 (including $3250 in rebates and the truck stickered for $47325)
Trade-in value: $35000 (2010 FX4 with 19,500 miles and loaded except rear camera and tailgate step)
Trade difference: $5700 if I remember correctly and I owe about $19200 on my truck

Everything is coming off of mine except for the basic 6" Fabtech, wheels, and tires.

 

I almost did the same thing with my 2010 FX4. My trade value was 26k with 35k miles. I owed 22k so 4k was equity money don't forget that cash value. I was looking at rebates that were higher on XLT 6,250 total on a 39k sticker, 36k invoice. TT&L etc made it 27.5k financed for a new truck with trade.

It usually costs about 5k a year to get into a new truck. Of course this summer when gas hits 5 bucks you won't be able to give a V8 away...

I wanted the new tranny shift mode, 5 liter engine, economy, dash computer etc... But I ended up keeping my 2010 vs starting over again.

 

How are you getting that much for your trade-in?

I think I might call the dealer you are dealing with if you are getting that much for your trade. I know you have the extras but I still think that is doing pretty well but maybe I am wrong.

 

I was wondering that too. I checked NADA and KBB on my truck a while back, 2011 FX4 s-crew, lux pkg(msrp 45k) and it was only 33k trade in w/9k miles.

 

Yeah that value seems high. Trades have kind of taken a hit lately. At least by us a buddy and I both traded for the ecoboost and took a 3-4k hit from what blue book said. The dealers were selling them retail at trade in cost. I verified with two other dealers on trade before I pulled the trigger and all were in the same range.

As far as getting a new truck I would say hold on. Your really eating a lot of depreciation just to move up a year or two. You owe 21 probably have 12 at best in postive equity so cash the new truck will cost you 26 plus tax and tags probably a 29k purchase. I wouldnt do it.

 

That sounds about like the numbers I am getting With no trade

Are any of you using x-plan? I have a pin, but am finding advertised prices lower than x-plan making me wonder why I got it...

 

I didn't even check book values to be honest but used trucks seem to be going much higher around here than elsewhere. I just know that after a little negotiating the dealer allowed me $35000 for my truck and the original MSRP was around $47k. Maybe it's because of the extras; I'm not sure. Maybe they allowed themselves some room in the sale price to bump the trade in value up; again I'm not sure. I do know that I've traded trucks in the past (at other dealerships) with extras and with some negotiating I was able to get them to give me quite a bit more than the original offer. All I know is that I knew where I wanted to be and unless I got there I wasn't going to purchase a new vehicle.

EDIT: I just checked trade-in value on my truck and it was $31,175. My guess is that they allowed themselves a bit of extra room on the sale price to make the trade-in value look more appealing and then added just a bit to it for the extras on my truck.

 

My assumption is that they are not giving you everything in the sale as far as rebates, invoive, etc. And they figure they will sell your truck and be 0 balance and make a for sure profit on your sale. Instead of making pennies on the sale and hoping for profit on the trade. I guess its a strategy, but to you or me I dont care how they get to the number as long as its my number.

I was kind of vice versa. I had a 08 F250 diesel they gave me 26 which was about 3-4k low in my opinion. But I got 7-8k in incentives, so it worked out.

 

Not to knock the deals or dealer, but I got 18500 for an 09 ext cab stx 2wd just saying might push the trade in, and find someone to get you an xplan number,

 

X plan pin are a flat price that cannot be altered or negotiated. It is a fair deal for people uneducated in the car business. These days I do better without it. Looking at my invoice X plan is 3-400 bucks more than invoice anyway.
As for advertized prices. Dealers usually take a vehicle at invoice, subtract all but 500 bucks in Holdback and rebates so it makes for one vehicle give away near cost to lure you in and up sell you on adds and maybe even a nicer unit...

 

Dang.. No wonder I can't find a nice USED 2010 for under 30 grand! Might as well just buy new!

Looked at my first 2012 F150 the other day and I gotta say I want one! But, it's been so long since I've had to make a loan payment, I just can't bring myself to doing it and, of course, a 15 year old, 231,000 mile F150 does not have much trade/resale value!

Not sure how you guys swap rigs every couple of years! I make a decent living, but hate having any kind of debt (other than a mortgage) and these new trucks sticker for more than HALF of what my entire mortgage is! I'm sure the monthly payment would equal my mortgage payment!

Anyway, thanks for letting me vent... Now I'm just going to drive by that nice shiny blue XLT with all the stuff I want on it and drool over myself..

Mitch

 

That's the thing lately with new vs used with all the incentives out there you can get new for cheaper or same price as used.

As to your second question here is my thought process. I had the used old vehicles forever and it was constanly something. So I started going new. Now for the most part vehicles will probably be pretty problem free for at least 60-100k, then the issues start. I added up all the maint cost as far as scheduled maint such as tires, brakes, oil chages, coolant, etc. Then I added up known breaks and fixes.

I refuse to buy a new vehicle unless I have at least 15-20k in equity or cash. That way my payment stays right in the mid 200's to low 300's. Now going out all the time with hardly anything down and having a $500 plus a month car payment I think you should evaluate what you are doing. Anyhow after I did the math 300 bucks a month for year is 3600 bucks. With all the fixes and keeping up with maint on old vehicles the new vehicle was cheaper. Then factor in the new truck has more performance and better MPG than the old, saving money there. Also time is money when I dont have my truck that means I have to spend my time working on it or pay somebody else and I dont have use of the truck. I have a boat and sleds, now those are useless because I dont have a truck and are waisted money.

Not saying my way is better for everybody or that old vehicles are not a good option. But I challenge you to add up the Maint and repair cost on your old truck once for a 2-3 year period and compare it to a new vehicle payment you might be surprised.

I mentioned this to a buddy of mine at work and he never thought of it and a week later is in a new truck. He had a 2001 chevy 150k on it. Last two years, new tires at 800 bucks, new tie rod and wheel bearing twice at 600 a pop, radiator and the list goes on. A lot cheaper for the car payment and now he has reliability.

 

Certainly gives another perspective on the deal. Never thought of it that way, and it does make sense in an open minded way. I've been really lucky in that the repairs have been minor to date and has never left me stranded.

Now, it'll just be convincing the wife!

Mitch

 

Well, that there was his first problem. Sorry, couldn't resist.