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Thread: What would you do? Trading in car

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    JaneSays's Avatar
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    #1

    What would you do? Trading in car

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    I'll try to keep this concise. DH bought a Jeep while deployed, back before we were even dating. He was deployed for a whole year, and kept dreaming about his Jeep, and what color he'd get, and all that nonsense. So he has a 2012 Jeep Wrangler Sport, fully loaded. Almost immediately after we started dating when he got back, I heard him talk about how he somewhat regretted his purchase. He had had a fully paid off, nice volvo but sold it when he got back. Now he has a car payment, a somewhat gas guzzling vehicle, and he's not saving as much as a result.

    Fast forward--now we live in Boulder, CO and we'll both be students next year. We have a 20-30 minute commute each day, so we plan on carpooling in. If one of us needs to be home sooner, we can take the bus back. We always take my car (a 2007 Honda Fit) because it's so fuel efficient. However, my car isn't awesome in the winter. When looking at the finances, DH is realizing how much he DOESN'T want a car payment.

    He thinks he wants to trade it in. He owes about $8,000 still on the Jeep, and is seriously looking at the Toyota Rav4. He thinks he can get a 2010, 2011 Rav4 for 17,500 or 18,000. He thinks he can get about $25,000 from the dealer, maybe a bit more from a private seller for his Jeep. So, we would get a Rav4 outright and have no car payment, if we play our cards right.

    Would you do it? We want a Rav4 because it's good in the snow, we can fit our ski stuff and dogs and whatever else anytime we want to go anywhere, but it's not a gas guzzler. It's also safe and reliable and all that good stuff.

    It SEEMS like a good idea, but I just want to make sure we're not rushing into anything. Also, DH is 100% on board--I'm not pressuring him to give up the Jeep or anything.
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    #2
    It seems like it would work. I've never traded in a car while still owing on it. I don't know if he will be able to get out of there without paying something on the vehicle but if you both have done in depth research, it seems like a good deal, especially if your soon to be students. Not having payments to make on anything will help a lot.
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    #3
    Wanted to add.............check to see what your car insurance payment and car tabs will be to make sure you can handle them while in school.
    http://militarysos.com/forum/image.php?type=sigpic&userid=8121&dateline=1213248817 TAKEN AT NISQUALLY WILDLIFE PRESERVE
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    #4
    We've done this several times now. Trading down is a great option especially if the Jeep is worth 25k and the other car is only 18k.

    Basically what happens is you negotiate the value of your Jeep with the dealer. Then you negotiate the value of the new car. You only owe 8k so they will payoff the 8k leaving a difference of 17k. So you should be good to go!

    When you trade down you don't have to pay sales tax on the new car so that is also a huge benefit.
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    #5
    If money is a concern, why don't you get something older (2005-2007-ish, perhaps?) but still with fairly low miles?
    Science always wins over bullshit. ~Dick Rutkowski
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    #6
    Quote Originally Posted by villanelle View Post
    If money is a concern, why don't you get something older (2005-2007-ish, perhaps?) but still with fairly low miles?
    Toyotas are great and will last a long time! Something a few years older could put even more money in your pocket.
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    #7
    We have traded so many cars it is crazy we are now stuck upside down terribly just be careful is my only advice.

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