I just PCS-ed to Alaska and I think I need to trade in my RX8 for a better winter-worthy vehicle.

I still owe $16,000 on it though. It's kbb trade-in-value is around $10,000. So how does this work when I go to a dealership?

Let's say I find a truck or suv for $10,000? What if it's more expensive, like $18,000? My loan is in anoter state (lower 48) with a small bank. Does the dealership pay off my old loan and then I finance with this dealership?

How does this stuff work?

 

no need! just put snow tires on it! haa

 

I actually drive a Nissan Xterra, it's my husband who wont drive the RX8...which was actually his b-day gift in 2007! He takes MY vehicle all the time! He has to drive on dirt roads or bring a lot of equiptment to work so he wont drive it. He wouldn't drive it in the winter either. I'm sick of him stealing MY vehicle!

 

go ask the dealership!

but typically you end up upside down and the difference is added to your new vehicle.

example: rx8 trades in at 10k, you still owe 8k, pick a vehicle and add 8k to its price tag.

 

Maybe its worth just buying a cheap vehicle to drive around during the winter? I too live in Alaska however I have my truck as a daily driver and winter vehicle.

 

I will sound preachy here.

Buy a reliable beater for about 3 or 4 grand.

Screw that noise you talk about.

This is why Americans are in perpetual debt. They pile debt unto debt.

/rant.

 

^agreed

 

Yeah you will loose. I'm just as guilty as I purchased a Ducati brand new and the thing dropped in value (1098 went to the 1198), but the thing was falling apart left and right. Lost 10k from purchase date. Loaded the negative equity onto the RX8 and now have a used rx8 at twice trade in, BUT I love the rx8 and have no desire to ever part with it. *shrugs*
ON THE FLIP SIDE
I purchased a 2006 Dodge Ram with the 5.7Hemi for $6,000 for towing the Motorcycles around haha. So if you can wing it and buy a case less of beer each month, just get a truck and call it your "secondary vehicle" for insurance and it'll be dirt cheap.

 

right. buy a cheap pick up truck.

 

I honestly doubt I'll ever buy a new car, boat or bike again.

The depreciation on these things is too great, and there are always a ton of cherry used vehicles to choose from.

An exception might be something like the 'cash for clunkers' program. If I can trade a $1,200 beater in that qualifies me for $5,500 in tax breaks on a car that I wanted to buy anyways, and I can get additional discounts from the manufacturer so that the total price is 25%+ off MSRP on a new vehicle, that might work.

Of course, if the price of used cars plunges, and if the dealers or manufacturers play games with new car pricing if such legislation is passed, then screw it.

I hate games.

 

But but butt... then the government can't bail us out!

 

Im with you in this one , no more new car for me . Get something 1 or 2 years old and you'll save alot . After 4 new cars I think I've learned ..............

 

In the same breath. I got my car and didn't realize what the previous owner had done until I got it home and cleaned it up. Front end damage not on record, dead this dead that, spark plugs in wrong holes, I mean honestly what do people do to their cars? So meh I donno I kind of like the new only I touched it thing.