Traded in my truck for better gas mileage
05-10-2010, 09:39 PM
#1
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Traded in my truck for better gas mileage I got rid of my '06 GMC crew cab Z71 for a 2010 Malibu LTZ V6. It rides much better than I expected and still has some passing power. I will probably do a few minor detail things to help it look a little better but my wife likes it so I am ok with it.
Here is a link to some stuff I am trying to unload.
https://ls1tech.com/forums/texas-cla...l#post13311959
Here is a link to some stuff I am trying to unload.
https://ls1tech.com/forums/texas-cla...l#post13311959
05-10-2010, 10:50 PM
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damn, that would be really tough for me... i use my truck way too much to trade it in and drive a car... yeah paying for gas sucks but, it's just one of those things that
05-11-2010, 05:48 AM
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My truck already had 100k on it and I still had almost 4 years to pay on it. I was able to get out from under the upside down note without raising my monthly payment and got into a new car. It's called good economics, do they still teach that in high school?
05-11-2010, 07:01 AM
#11
He traded in his gas guzzler. That was a good move for him. I think you may have assumed he added another car note to save gas, and yes that is kind of silly to do. Most people buy another car to get better gas mileage with, only to find out the added cost of insurance and the car note are more than they were spending in gas for the other vehicle.
05-11-2010, 10:42 AM
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LOL at talking about the economics of picking up a new note to get rid of a vehicle you are upside down on. People that look at the monthly payment are a salemen's dream. Mention loan amortization, equity, and depreciation and they realize you know what you are doing.
05-11-2010, 10:57 AM
#14
How do you know he did not get this Malibu with a 0% interest rate? Maybe his truck was financed at 12-15%? There's a lot of factors to consider.
Last edited by -Ross-; 05-11-2010 at 11:04 AM.
05-11-2010, 05:03 PM
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It's funny how you mention "depreciation" and do not aknowledge the fact Randy's truck has 100k miles and if he were to continue driving it until his loan was up (4 more years) the truck would more than likely have over 200k miles and be worth virtually nothing due to continued depreciation. He traded it in while it still had "some value". Yes. He will still end up paying the upside down portion, but he very well may have saved himself some money in the long run (repairs to truck over the next 4 years, gas savings, probable insurance saving, interest savings).
How do you know he did not get this Malibu with a 0% interest rate? Maybe his truck was financed at 12-15%? There's a lot of factors to consider.
How do you know he did not get this Malibu with a 0% interest rate? Maybe his truck was financed at 12-15%? There's a lot of factors to consider.
BTW, the 0% **** is typically for suckers anyway. You pay more in order to get the 0%...lol. If you don't believe me, try negotiating a cash deal down to their rock bottom price. Then ask for 0%. They won't do it.
05-11-2010, 05:30 PM
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Yes, its good economics. Just depends on how much/far you drive daily. I use to drive 500 miles per week just for work. On top of that an additonal 100-200 depending what I did on the weekend. Even if you can afford it, it gets old topping off spending $500-600 a month. Especially if gas ever hits $4.00 per gallon again.
I think its a good move.
I think its a good move.
05-11-2010, 06:20 PM
#18
Please don't try to act like you're something special when it comes to purchasing vehicles. Anyone with common sense, some research skills, the ability to add and subtract, and a little bit of patience can do it just as well as the next guy. I'm well aware most dealers won't give you 0% plus all current rebates (some have and will do this). You've got to do the math and see where you come out ahead.
05-11-2010, 06:29 PM
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Please don't try to act like you're something special when it comes to purchasing vehicles. Anyone with common sense, some research skills, the ability to add and subtract, and a little bit of patience can do it just as well as the next guy. I'm well aware most dealers won't give you 0% plus all current rebates (some have and will do this). You've got to do the math and see where you come out ahead.
05-11-2010, 08:07 PM
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Thats funny, I recall recently seeing your car at Kemah and commenting on liking the blue bowtie. I am going to refrain from making the comment that I want to, besides my family likes it and that is all I am concerned about.
Besides, I still have a toy in the garage just as clean as yours and more than likely makes a little more power than yours so I don't need to worry about impressing teenagers.
Besides, I still have a toy in the garage just as clean as yours and more than likely makes a little more power than yours so I don't need to worry about impressing teenagers.
Last edited by Randy_S; 05-11-2010 at 08:21 PM.