TRADING 2004 MERCURY MOUNTAINEER =left on loan $22,000
for 2006 SUBURBAN =$28,000 I AM PUTTING DOWN $2500.
PLUS TAG TITLE TAX ETC.= $33,102.85 FIRST QUOTE WAS
$650.00 a month (for 75 months) I TOLD THEM I COULD NOT AFFORD THAT (i was tryin to get a suburban but only if i could stay at or go below my $548. i pay now).the next day THEY CALLED (HMMM)said how about $567.00 a month ?It's an Awsome truck BUT i did notice a fixed area on the passenger side
second door.i came home and ran a CARFAX.it says it was only used from 3-06 til 12-06 as a rental vehicle.(major car rental company)then it was sold at auction .it occured 300 miles from auction til now.everything seems cool til i see it was used in the
Virginia Beach VA area for those 9 months.do you think it could be a flood vehicle?the CARFAX report says nothing else. I DON'T KNOW WHAT TO DO NOW.
Second of all, if you're already upside down on the Mountaineer, is your down payment the difference such that any balance on the Mountaineer is not rolled over to the loan?
Third, have you checked comparable prices for this automobile?
Fourth, Virginia Beach did not have flood problems last year.
Finally, unless you are dealing with CarMax, always negotiate the trade-in value first before negotiating the price. CarMax low balls on the trade-in and high balls on cost. See if another dealer will give you enough on the Mountaineer to pay it off and you can put the $2,500 towards the Suburban. Maybe obtain a letter from your bank saying that you are pre-qualified for such an interest rate such that the dealer won't charge you an arm and a leg. Try to avoid financing vehicles for more than 72 months if you can help it - stick to 60 months and never tell them your monthly payment.
Looks like you are rolling over some negative equity from the Mountaineer, which the cash down is probably taking care of, so it doesn't look like a bad deal.
On a vehicle like a Suburban, they are not ran like race cars like cheap rental cars are, so I wouldn't let that scare you away from the truck you like at a discounted price.
Negoitiate with the dealer on getting the spot on the door fixed, negotiate on an extended warranty, and ask to see their service inspection sheet on it.
No reputable dealer will sell flood cars, or junk cars, and rental fleets turn the cars over because of mileage, not because of bad condition or mechanical problems.
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