What would you do?

The dealer has offered to buy my L back for $24K (2001 with 10K miles). I paid $29K for it new last September with the x-plan. They will sell me a new 2002 at X-plan pricing for around $29K. I have yet to haggle with them (maybe they will give me $25K for mine, or pay tax + title), but do you guys think it's worth unloading my 2001 for a new 2002 for a $5,000 hit?

Any advice, opinions, or alternative ideas would be appreciated...

 

Nope, I wouldn't but I wouldn't trade for a 2001 from my 99 either.

 

probably a good deal, considering your high mileage and situation, and the hit we all take in the first year. i'd do it, but thats me, or something

 

Are you just talking about depreciation.

--Joe

 

I had about the same deal on my 99 to 01. I only recieved 22,500 for my 99, but I paid 28,300 for my new 01. What made the deal sweeter is my interest rate dropped from 5.9 to 2.9. If you are planning on pulling the motor to upgrade, I wouldn't do it. If you are keeping it fairly stock I would do it. I traded the 99 in and then pulled the motor out of the 01 3 months later. If I knew I was going w/ a built engine I would've kept the 99.

 

Problems? Ok, i'm removing what i said about my friend buying it.... sorry...

 

Depreciation is a terrible thing.
I sent in the final payment on my truck and thought I was done but,

Ford said the truck had depreciated so much, I owed them more money.

 

Mmm, might be worth it to get out of that one truck you got. Its a shame you've had so much trouble with it.

Daniel

 

Which direction are you leaning?

The reason I'm asking: you've had an extraordinary amount of problems with the truck you have now. It's easy to get fed up with it and decide you're through and send it on its way. I've had that feeling before, too. (Imagine buying a used F350 for 8k, then finding out 90 days later your motor's fried to the tune of 5,800).

On the other hand, though - it's a production line vehicle. There's a lot of parts that have to come together as the truck's going past you. Even if 1/2 of 1% of the units have an issue in one or two areas the odds of it reaching the customer are very good. Is this the last problem with your truck? Who knows. Will the next truck be better? Difficult to say.

If it were mine, and I could afford the hit, I would probably do it. If for no other reason than having a good feeling every time you get in the truck, rather than the "what's gonna happen today" feeling.

My .02
Steve

 

as many problems as you have said that you had with the truck, i'd try to get it "lemon law(ed)".

 

$24k for a '01 w/ 10k mi?! Like hell. My buddy just sold his at the dealer (notice the wording) - '99 w/ 16k mi - for $25.5k ($500 went to dealer) His situ was looking to get out of high payment, traded in for a '99 Chevy (work truck, something to tear up); he laughed at $24k for tradein and sold it at the dealer lot and got what he wanted 25,500. You and me in same boat, I got my '01 in Sept on x & w/ 2.9. right now 10300 mi. I wouldn't take <27k for it.
I know you've had trouble w/ the eng but hold out a little bit. The dealer obvously knows your trouble and they should work with you to make it happen. A 2002 will fix your problem and getting X on it is good ( I dare say lucky) this early in the year. They ought to do better than 24k for your '01 w/ 10k mi. If not tell them to sell it for you on thier lot for <=$500 commission with an asking price of about $27,500. They make $500 for solveing your problem.

Ok, I'm off my soap box for a while.

 

Getting out of a vehicle that's only a year or two old is almost always a losing financial situation.

Perhaps you could take the money that you would lose on the deal and build a stronger motor in your '01. Just a thought.

 

Ben,
you're gonna have to peel that paintjob off ya know! It'll void your warranty........or somethin!!!..............JR

it's all your decision....see if you can haggle more out of your '01...tell them you'll leave the paint on it!!

 

Thanks for all the replies - your advice and comments are very helpful.

I am going to go talk to them about the voluntary "buy-back" option first, and if that program is not applicable to my case, I will see if I have any recourse in filing a lemon claim.

I will also see if I can negotiate a higher trade-in value or have them take care of the taxes and tags. I think if the difference to my wallet was a lot less than $5000, I'd do it today. If they won't negotiate, then I may see if they will consider Mocklab's idea and sell it on their lot for $500 commission, etc.

I don't want to build up the motor because I want to keep the warranty (just in case I get unlucky AGAIN).

Or I could just keep it... DECISIONS DECISIONS!

SLVRLTNG - the dealer told me the paintjob hurts resale and they'll have to use a chemical bath to burn it off! LOL!

 

Lemon law only applies to the SAME problem unfixed after 3 tries as I understand it ...

Doug