hemipower95 2.0
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Darts have bad reviews
KILLELR DEAL!!!!! Need help deciding
- Thread starter PCT
- Start date
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Darts have bad reviews
OP
OP
PCT
2019 2500 6.4
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In the dart loan they would add on what i owe on it, and then cutting me a check for the the amount and i would go to my bank and pay-off my current loan. Therefore the rest od my truck would be incorporated in the payment of the dart, so it would be 2 vehicles for 450 roughly...
I really do love the darts, and my vw has had some issues but in theory its cheaper to fix the vw than buy a new car... i also do love my vw!
I understand the dart has ****** reviews but have always wanted one...
They are used with salvaged title for 4-6k and clean for 8-13k
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OP
OP
PCT
2019 2500 6.4
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I know, but still have always wanted one hahahaha
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Csanders1992
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If you could get them closer to what your payment is currently on your truck I think it wouldn't be a bad deal. I doubt that would happen though.
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Chasing a lower payment but taking on overall more debt on a depreciating item has it's pitfalls.
When I was in my 20's, I had that "new car fever" also and constantly changed vehicles every 18 to 24 months for many years. While one can fool oneself with flaky justification every time, eventually the financial math of rolling over and pushing total cost and payments get to a breaking point.
With new car costs out stripping inflation and wage rate rises, dealerships have become more adapt at doing smoke and mirror acts to shield costs by extending terms out longer to show a lower payment.
Desperation and chasing a monthly payment costs are a salesman's wet dream for an ideal customer.
Rzrman328
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Read your op real quick but immediately came to me they were just paying off your truck and adding the same amount on to your new loan.
Weird part is that they were gonna let you keep the truck....
As one member said, these snakes will spin the numbers one way or another to make it seem like a good deal.....that's their job and some are really good at it.
Oh and......$450/month.......for a dart?!
Looks like you already made the smart decision...keep your truck.
yillbs
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While all very good information, you're preaching to noone really. The kid already said what he was doing, and imo he's takin a rather good approach to his situation. Long as you're not focusing on the monthly, or, you ARE focusing on the monthly because you've done some basic math, then what gives? Blinding saying " don't look at monthly payments " is not good advice, you can easily shop based on payments if you know the most you'll spend on the car, your target APR, and then you're trade in / whatever else you want cost.
If i want a car for 20k, i know i can get a 1.9% APR, and I have no trade, then I want to pay 219/mo for 84 months ( on an 84 month loan ). That's what I'd consider to be a GOOD deal if i were going in and playing the game with the dealer. At that point i can not only say this how much i want to pay, but i can then discuss negotiations in monthly payments ( they love that **** ). This puts me in a 20k car for under 20k, even with all compounded interest. If they can't do what I want, i leave. That's a perfectly fine way to go shopping.
Rzrman328
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PCT,
How many miles on your ram?
Assuming you could get $20-25k if you sold it.....you could still make out ok depending on how you went about it and how bad you really want this dart.
How many miles on your ram?
Assuming you could get $20-25k if you sold it.....you could still make out ok depending on how you went about it and how bad you really want this dart.
JustB_rad
Junior Member
Here will lye your problem. In 3 years, when you are bored stiff with this car, or you get married and start a family in 5 years and need something more family friend, or more friend friendly, or something that is more business friendly and you need to sell it, or trade it in, you're going to be buried. You will never even be close to even with your loan on this vehicle, you will always be upside down.
In with winter of 2000, I decided I wanted a new truck. I leased a 2000 Ford Ranger, 2WD....it was $211/mo with $0 down for a 24 mo lease. It was what I could "afford". By Dec of 2000, I had gotten a new job paying more, but WAY further away from home (20 miles each way), and we got 55" of snow that Dec. By the end of that Month, it didn't matter what it costed me, I was fed up. I traded it in on a New 2001 Ford Ranger with 4WD....it had everything in it for a 2001 Ranger and $439 a month for 36 mo lease! 2 months later, I got over confident in my 20 year old driving abilities and smashed it into a wall on the icy freeway. 15k worth a damage, and they FIXED it. I drove it for 2 more years til the warranty expired....but then I was stuck. I was still 7k upside down in that truck and nobody would roll it into a car loan....no bank would do it, no dealer would do it, and I didn't have a dime in the bank. I had to go the the Bank of Grandma to get help. I borrowed the 7K to pay off the truck lease, and borrowed 14k to buy a Used 2000 Pontiac Grand Prix with 60,000 miles on it! That still made my payment $400+ a month. When I finally paid that car off in 2008, it was the greatest day of my life up to that point...I FINALLY wasn't paying for 3 vehicles wrapped in one! I'm honestly not sure what I would have done without that help.
IMO, I would RUN away from this deal. If you really want a new Dart...then just buy a new Dart....Do not roll negative equity into the deal.
In with winter of 2000, I decided I wanted a new truck. I leased a 2000 Ford Ranger, 2WD....it was $211/mo with $0 down for a 24 mo lease. It was what I could "afford". By Dec of 2000, I had gotten a new job paying more, but WAY further away from home (20 miles each way), and we got 55" of snow that Dec. By the end of that Month, it didn't matter what it costed me, I was fed up. I traded it in on a New 2001 Ford Ranger with 4WD....it had everything in it for a 2001 Ranger and $439 a month for 36 mo lease! 2 months later, I got over confident in my 20 year old driving abilities and smashed it into a wall on the icy freeway. 15k worth a damage, and they FIXED it. I drove it for 2 more years til the warranty expired....but then I was stuck. I was still 7k upside down in that truck and nobody would roll it into a car loan....no bank would do it, no dealer would do it, and I didn't have a dime in the bank. I had to go the the Bank of Grandma to get help. I borrowed the 7K to pay off the truck lease, and borrowed 14k to buy a Used 2000 Pontiac Grand Prix with 60,000 miles on it! That still made my payment $400+ a month. When I finally paid that car off in 2008, it was the greatest day of my life up to that point...I FINALLY wasn't paying for 3 vehicles wrapped in one! I'm honestly not sure what I would have done without that help.
IMO, I would RUN away from this deal. If you really want a new Dart...then just buy a new Dart....Do not roll negative equity into the deal.
yillbs
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JustB_rad
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the 9.5k on the truck isn't negative equity
It surely is....You can't go back to the dealer and undo it! If you don't have the 9.5k in the bank (Which I presume the OP doesn't, because it would be foolish to pay interest on money you already have) The only way to get that 9.5k back in case of problem getting out of the Dart loan would be to take the Ram title to a bank an put a loan against it AGAIN....and most likely at an even higher interest rate. Any money against a car loan that isn't for THAT car is negative equity. If that Dart gets totaled in an accident, then what?
adrianp89
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I would run away. Taking on more debt + higher payment is no go. You are 22, a house is probably in your future (I would imagine well before 7 years). Both of those things are something that will hurt your chances in a strong market.
Of course if you don't care about credit - take the deal - don't pay on the Dart and let them Repo it. **** credit score but paid off truck lol.
^^^ Worst Advice ever.
Of course if you don't care about credit - take the deal - don't pay on the Dart and let them Repo it. **** credit score but paid off truck lol.
^^^ Worst Advice ever.
baum
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Hell they are really trying to f*ck you!
Dart SXT's go for 15.5-16k all day near me. take that and the 9500 you owe on your current and that is 26k about. heck on a 5yr 0% that is about 435/mo.
Dart SXT's go for 15.5-16k all day near me. take that and the 9500 you owe on your current and that is 26k about. heck on a 5yr 0% that is about 435/mo.
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Thanks for your take but I was talking to the guy I quoted and not the OP, hence the quote.
yillbs
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The truck is worth more than 9.5k, its nota Negative equity . If he's paying higher than 0% now on the truck how could you possibly say that? That makes zero sense
I.e he doesn't own the truck but is paying interest on it
JustB_rad
Junior Member
Any amount financed into the Dart beyond paying for the Dart is negative equity in the Dart. Period. It's like taking out a 2nd mortgage on your house to "Pay off" your vehicle. Banks used to do that a lot before the housing crisis...give you up to 120% of the value of your house in a loan....Until they learned what happens if you can't pay for it, or sell it for the amount to pay for your loan.
If you can't sell the vehicle your purchasing for more than you owe on it, it's negative equity....not to mention that he would be financing 9,500 extra dollars for 66 more months than if he just kept paying on the truck. The only place this deal makes any sense is inside the walls of the finance office of the dealership!
yillbs
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We're not talking about the deal , we're talking about rolling a loan with a higher interest than 0% into a zero percent interest loan. And by those standards you're wrong. Who cares about the negative equity in the dart? He's paying interest on a truck, he's losing money. He's not getting any more debt than the new car would normally have. If he paid 20k for a car that's the debt he's incurring. That's the same debt whether he rolls it into the loan or not. Taking the truck out of the equation buying ANY new car is a bad deal, getting a good deal on a new car is impossible, if he's buying a car regardless he should take advantage of the 0% on an existing loan.
JustB_rad
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He will in 1-6 years if he needs to or wants to get rid of the Dart! That's my entire point!
adrianp89
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If he has a low rate on his truck now - why would he over pay for the Dart? It's been stated a new dart can be had for 15k (I've seen them less) .. his loan should be 24k tops. Low interest rate on 9k ($250 a year?) is less money than spending 6k more than he should on a dart.
