Need an opinion on trading

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utley

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Ok, a little back story: last year when I went to purchase my current truck (22 Ram 1500 BigHorn 4x4), I was searching for -and found, albeit a day too late- a 2018 Ram 1500 Sport Hydro Blue Ram that I had every intention of buying that day. So with that said, I found another one. This is the opinion I need:

I put 16k down on my current truck + 4800 in taxes for my tags (MO requires you pay the taxes up front for your plates). I just installed a new leather seat set, its basically the same color as the truck I wanted, plus I still have less than 10k on the odometer. I honestly do not like the Uconnect system; the speakers cut out from time to time while I am listening to something and I have to power cycle the radio to get it to play again, the transmission is jerky in 1st and 2nd gear sometimes, and for some reason the brakes seize up when I start driving it for the first time in the day. Like literally I can just tap the brakes and Ill skid to a stop when Im doing under 8mph. As nice a truck as it is, Im aggravated with it. Ive already spent 30k of my own money with down payments, taxes and upgrades towards the vehicle. Bought it for 55k'ish before the taxes.

With THAT said:

I found another 2018 Ram 1500 Sport Hydro Blue Pearl truck that has pretty much everything I wanted in it: Nav, leather seats, moon roof, 4x4, backup cameras, the works. Im not even certain of all the features it has, but I know its not as technologically advanced as my current truck. Its the quad cab with the normal size back seat, not like the quad cab I have where theres less leg room. It has 70k on the odo, they're asking $36.5k for it (its higher than it should be for the mileage) and these color trucks are very hard to find. This will be the 3rd Ive seen since I started looking for them a few years ago in this specific color, Here.

I already know Im taking a huge financial hit with this truck; it is what it is. Its Blue Book value is about what I owe on the vehicle at the moment with factory options, not including the upgrades (as if that will matter anyways........). Im leery about buying a vehicle with more than 40k on the odometer, this is where all the heavy maintenance starts and Im not sure how well the previous owner has taken care of it. I havent seen it yet, but Id rather have an informed opinion of if its wise to trade with what I have invested already. Really would like to have some assistance with what I should do; I had planned on keeping this truck, but Im looking to retire medically here soon and while I can afford the truck payments, I dont want to keep making payments on this truck for the next 3-4 years, especially since this economy is taking a 'uuuuuuuge dump.
 

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Travelin Ram

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Job 1 when you’re in a hole is putting down the shovel.

55-16 means you’re remaining cost for a brand new truck is 39k. And you’re considering essentially swapping it for one four years older for 37???

You listed several minor issues with your truck. But no mention of taking it in for warranty.

Your money, your life. To me it sounds like out of the frying pan and into the fire.
 
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utley

utley

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Its not the fact that I dont like the truck, its the fact that I need to retire soon and Im trying to save more money in the long run. Essentially Im asking if its worth doing. I also know that the dealerships going to mark it right back up to around the sticker price I bought it for; most dealerships around here have same make and model of mine with similar mileage on it for roughly 52k. Ive had offers of 11k cash if I sell to the dealership, so its not a total loss. At the end of it, the truck Im wanting to trade for will be closer to 20k when alls said and done, not 38k that I currently owe. AFAIK the blue book value was for trade in value.

Also, taking the vehicle in for warranty work leaves me without a vehicle for however long it takes them to fix it...if they fix it at all.
 
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A_mod_too_far

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financially speaking you should keep your current truck, but I think in 30 years the 2016-2018 sports, rebels and limited are going to be highly valuable and considered iconic from their era, it’d be sick to find a low mileage pristine one and garage it, hydro blue is also my fav color
 
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utley

utley

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I have to admit, I dont really care for these new rams; this Uconnect software that controls everything relevant to your vehicle - mirrors, hazards, air conditioning, radio...all it takes is just one thing to go bad and you lose everything. I dont like being forced to buy Mopar and have Mopar fix it when I know aftermarket stuff always comes out in better quality for the price. If I could lose Uconnect and replace it with something else, Id probably be ok with this truck 100%.
 

wrigley

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Am I reding this correctly? The dealership offered you 11k cash for your 22 Ram 1500 BigHorn 4x4 with less than 10k miles on it?

Mike
 

jejb

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Also, taking the vehicle in for warranty work leaves me without a vehicle for however long it takes them to fix it...if they fix it at all.
The same would be true for the 18 when it needs attention. The difference is you'd have to pay out of pocket on the 18 since it's out of warranty.
 

CanRebel

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You should do whatever makes you happy. I think your nuts. Trading 22 with low miles, for 2018 with high miles?

As for the uconnect. both have it. Your new truck has newer version with bugs, so did/does the old one. Updates should fix some issues, and create new ones.

For the other problems. Bring it back to dealer have them fix it.
 

nlambert182

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This is just my opinion so take it for what it's worth, but I wouldn't even consider doing that. I bought the 2018 in my sig for ~$26k with only 60k miles on it and I thought that was high.

Take the wants and desires out of it and look at this from a longer term financial perspective. These are not investments... they're liabilities and only depreciate and lose value with time.

You currently have a 1 year old truck with 10k miles IN WARRANTY that you owe $39kish on. Let's assume you drive 12k miles per year and assume that you took out a 72 month loan. When the truck is paid off you'll have somewhere in the 72k mile mark on the truck.

You are looking at a 5 year old truck with 70k miles on it where you have no idea as to how it was maintained. Even if you took out a 36 month loan on it at $20k it would be paid off at around the 108k mile mark.

At the end of the day you'll either eventually end up with a paid off 72k mile truck or start over with a 72k mile truck that you owe $20k on. It's a $19k difference and while that seems like a lot in the long term it isn't in relation to what the two trucks will be worth and how much usable life will be available once paid for. You mentioned retiring, so you might want to consider the ability to buy another truck after retirement and how long you might have before the one you have is worn out. If you're working right now, pay more on the 2022 and get it paid off sooner.

If you're just looking at payments, also consider the following (not considering interest) in relation to averaging 12k miles per year:

On the 2022 $39k truck:

84 mos - $464 (84k miles when paid off)
72 mos - $541 (72k miles when paid off)
60 mos - $650 (60k miles when paid off)
48 mos - $812.50 (48k miles when paid off)
36 mos - $1083 (36k miles when paid off)

On the 2018 $20k truck:
72 mos - $277 (144k miles when paid off)
60 mos - $333 (132k miles when paid off)
48 mos - $416 (120k miles when paid off)
36 mos - $555 (108k miles when paid off)


If it were me, I would take the one you have in and use the warranty to get it fixed. Most of our dealers will provide you a loaner vehicle for warranty repairs. All you have to do is ask for it so you're not likely to be down without a vehicle. I'd get it fixed and keep it. You'll lose your hind end trying to trade the truck for an older one. That $11k they're going to "give" you in the trade is just on paper. You'll pay full sticker for that 2018 (which is pretty inflated already) and pretty much give away the 2022. In my opinion, it's a terrible deal.
 
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mtnrider

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It's a bad bad financial decision but sounds like you have already made up your mind and are just looking for people to back you up (isn't going to happen). With that said do what makes you happy, you obviously hate the current truck and it's going to make you miserable.

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