Here's exactly how it was layed out on paper starting at the top...

2000 L 61,000 miles
$20,995

Trade-in allowance
98 STX (loaded) 4.6 ext cab also 61,000 miles
$9,315

Price of the L is now at...
$11,600

Added sales tax
$700

Added payoff of trade-in
$5,414

Doc fees
$55

Title fee
$95.40

Transfer fee
$55.50

Bottom price of the L to be financed is now at
$18,000

Does this look like an ok deal?

 

yeah...If you are smokin crack....why not be patient, sell you're other truck outright, then begin your quest for a lightning....JMO

 

Asking a bit much IMO for a '00 with 60k.

Did you get your old truck back?

 

I assume that he decide to keep the Lightning. I would never have paid what you did for the Lightning as it is an$18,000 truck tops. The thing that really kills you on the deal is that you have to roll debt from another vehicle into the new loan... that is a big no no. If you are going to trade in or buy another vehicle, always insure that you seel for MORE than you owe. Food for thought next time you do this.... also be brave and get on the gas a little more while test driving so that you find problems BEFORE purchase.

 

I agree too much for theirs, too little for yours. Have you tried Carmax, I sold my last 2 cars to them and they made a good offer on them. They will get you a good deal on an L also.

 

I just look up the price on my credit union web page. A 2000 Lightning 60k miles excellent cond. 15,400 wholesale 17,500 retail. They seem a little low to me but your price seem waaay to HIGH. I got a 2000 with 16k on it that I wasn't even thinking about selling , but for 21k I might.

 

Which the dealers use: 00L

$18,575 if your selling

$21,675 if your buying

 

Yes, and based on this a dealer would make $2900 on the deal.

That is an obscene amount of profit for 1 sale.

I'd say $19,500 at the absolute most for the L.

Not sure about the STX.

 

I played around trading in my 1999 with 9500 miles on a new f-150. i wanted to see what they would give me for it. they told me 17,000 they would give me trade in . my truck is pretty much flawless. i wouldnt think a 2000 with 60000+ would be worth any were near $21000 and if you went to trade it in you would be bummin. and i think the only reason they would give 17000 is because they have the new trucked jacked up so high. trading vehicles in is a tough negotiating proccess and if you dont want to spend the time selling your truck and are willing to give the dealer thousands more than its worth go for it. i have done it many times and it seems they are trying to make more evertime i deal with them. going in with no trade will give you more bargining power.

 

my 2000 with just shy of 15k was offered in trade at 21k as is, with all the mods, wet okoles, custom guages and the whole 9. I was stoked!!!! Around here, mods are apparently a selling feature to some people I guess. I know I could sell my truck as is with all the mods to someone who knows what it is and what it has for 23k no problem. I see used L in the classifieds all the time. "2001 Lightning, 45k miles, nice, clean, fast. Asking $25,500" There are a ton of these trucks up in these parts. Last count there were over a dozen of them in my town alone!!

I think it all depends on location. Dealers don't wanna take these in trade right now in the states where winter is still upon us. Another month and they have a better chance of moving them faster.

I think in the warmer climate states you'll see them selling for less. with 61k on a 2000, those could be 61k HARD Miles. I wouldn't pay more than 19k myself. Good luck

 

Transaction 1
$9,315 Trade-in allowance 98 STX (loaded) 4.6 ext cab also 61,000 miles
MINUS
$5,414 payoff of trade-in
EQUALS
$3,901 Equity in the trade

Transaction 2
$20,995 2000 L 61,000 miles
PLUS
$700 sales tax
$55 Doc fees
$95.40 Title fee
$55.50 Transfer fee

$905.90 total Fees
EQUALS
$21,900.90 Cost of 2000 L

Finance

Minus
$3,901.00 Equity in the trade
$17,999.90 Amount to finance

Math looks OK to me... its funny how the dealers ALWAYS combine the 2 transactions......

I have no way to know if you are getting a good deal on the trade. The Lightning may be priced a little high depends on its condition

Doug

 

Ok they dropped $2000 off the bottom price for me. $16,000 financed now instead of $18,000. Yes I did get my other truck back but I can still pickup the L tomorrow if I want.

My trade-in value on my truck is $8,625 according the the kelly blue book so they're giving me slightly more then what it's worth on the trade-in (Although that makes no difference if the top-price on the Lightning is still asking top-dollar).

The retail value on the L is $20,985, again according to the kelly blue book.

So think this is an alright deal now that they dropped $2000 off the bottom price (I say bottom price because I don't know if they're adding on my trade-in or dropping the price of the L, either way, six of one kind, half a dozen of another)

I mean, if this is a bad deal (for me) what should I be aiming for then?


This dealers service has been nothing less then top-notch (Atleast that's how I feel about them).... They let me take the truck home over the weekend before the loan even went through. They let me trade back my truck when I wasnt satisfied with the L even after I signed all the paperwork. They said don't worry about anything being wrong with it, they'll fix whatevers wrong. 1 year or 12,000 mile warranty. If I pick up the L tomorrow this will be three times they've cleaned and washed it and three times they've givin it to me with a full tank of gas, lol.

They said what was wrong with why it was running wierd (why I took it back) was the MAF sensor being dirty or something. They replaced that and put a new fuel filter on it.

What should I do? Keep my 98 STX or go for the 2000 L? (Both good trucks, just in different ways)

 

Let's dummy it down.

You will owe $16000 on the Lightning.
You owe $5400 on the STX.

The difference is $10,600.

Look at the two trucks side by side and ask yourself if the Lightning is worth $10,600 more to you than the STX.
Yes or no.

 

Here's a picture of the Lighning for inqiuring minds...



And the truck I'll be replacing with it (should I get the L)...



Wish I could have both, lol.

 

I have no comment. I am prejudiced because I owe $700 on my '99 Lariat and am looking forward to being out of debt.

Good Luck,