Am I crazy?

roadshow · Jan 15, 2016

Ok back story - I live in Ontario, Canada. I dented the bed panel on my 2012 for a $3200 repair bill that can't go under insurance (don't ask, it just can't and let's end that discussion there). I still owe $20,000 over 4 years on it.

I have a mountain of expenses over the next year: renovation costs. This repair is going to effectively create debt because I can't do both the needed renos that can't be put off AND pay for this repair which I refuse to put off because it makes me angry as hell to look at. So no matter what, there's going to end up being a few thousand dollars on my line of credit.

So I had this crazy idea: Dealership near me has a special on with around $7-8000 cash back on new RAMS. What I'm considering doing is walking in and trying to get a decent enough trade in on my dented 2012 with 66,000 km that I can pay off the remaining $20,000 and roll whatever I lose into the new truck's financing for a longer loan period. In the end it'll cost me more money, BUT I won't have an immediate debt on my line of credit. Am I crazy?

Jerry1984 · Jan 15, 2016

Crazy and creative can be close to each other. If you can make it work then it's good. I'm always pretty creative with my finances and so far it's worked out for me. I still really want a side by side but it's not quite time yet. Haven't figured out a way to make it work where it may not be tight at times so haven't pulled the trigger.

Schwinn · Jan 15, 2016

Have you tried popping as much of the dent as you can yourself, then getting a quote from a body shop? I had an RX-7 with a huge dent that was beyond my skills to fix, but I popped as much out as I could and save $300 off a $700 bill.

jtink · Jan 15, 2016

I'm gonna need to know the story behind this dent before I can vote on crazy or not.

And never a good idea to extend more debt over longer terms if your strapped for cash.

SitKneelBend · Jan 15, 2016

Sounds like a plan. Differing costs ain't crazy...

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Jimmy68 · Jan 15, 2016

You made such a deal about the dent, now we gotta know what happened. What?

bryan28 · Jan 16, 2016

Digging yourself deeper into debt by trading and getting a new truck is crazy. If it were me I'd live with the dent until I could pay cash to get it fixed. Maybe you could sell something that you don't need anymore to help pay for it.

jwheeler · Jan 16, 2016

How big is this dent? I just had a bedside replaced and it was way less.

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xrsman · Jan 16, 2016

I'd try to pop it out myself and then get it fixed, or just live with the fix job that you could do. Having $20K roll over onto the new truck is not financially smart.

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Rzrman328 · Jan 16, 2016

bryan28 said:
Digging yourself deeper into debt by trading and getting a new truck is crazy. If it were me I'd live with the dent until I could pay cash to get it fixed. Maybe you could sell something that you don't need anymore to help pay for it.

I gotta agree with ^^^ guy.

As much as having a dent sucks putting yourself in more debt because of it doesn't seem the smartest plan.

As others have said...try seeing how much of the dent you or someone can get out....live with it for a bit until you can afford to get it fixed.

Or I guess worse case scenario...put it on a cc vise rolling a lot more over into a new truck.

Jimmy68 · Jan 16, 2016

Or it is winter. Park at T intersections and near busy corners. Eventually someone will come by and smack your truck. PAYDAY.

Grandpa Rick · Jan 16, 2016

Is your truck 4X4

Jimmy68 · Jan 16, 2016

Grandpa Rick said:
Is your truck 4X4

Grandpa Rick. :roflsquared:

Rick and Morty Grandpa Rick?

roadshow · Jan 16, 2016

Jimmy68 said:
Or it is winter. Park at T intersections and near busy corners. Eventually someone will come by and smack your truck. PAYDAY.

I actually thought of that lol

14hemiexpress · Jan 16, 2016

Switching trucks will only get you deeper so unless you need a new truck I don't think that a good route to take. Your best best if your trying to avoid debt is to sit on it and wait till you can afford to get it fixed.

Am3gross · Jan 16, 2016

go the cheapest route you can with out insurance, if that is bondo then bondo it, then trade it in... you will take a hit at the dealership, i expect maybe 15k american... maybe... if you could spend 800 bucks then do that and fix it, then trade it, then you will close to your 20k that you want if not more. just make sure you dont trade it in to the same dealership that fixes it.

on my 2014 ram i did 5k worth of damage, was turned into the insurance. was seen on car fax. the dealer went from 28k down to 20k, even thou they fixed it with oem parts.

let us know what you decide to do.

7777xm · Jan 16, 2016

Fix it. A new skin runs about $500 USD. Labor and paint, shouldn't set you back too much.

It would be a crazy move to roll over debt, especially over a debt.

Or fix it on the real cheap until you have the cash to fix it right.

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Jimmy68 · Jan 16, 2016

Lose the box and deck the *****.

fordtech90 · Jan 16, 2016

YouTube that **** and do it yourself. Save you a ton and who knows you might enjoy it....

derag2 · Jan 16, 2016

Jimmy68 said:
Lose the box and deck the *****.

This is what I was thinking you can put a flat bed on it for much much less than 3200

Am I crazy?

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