Mistake

[Audiotechy]

Hey Guys, Long time...

Question. I just (july 1st) traded my trac in for a dodge neon srt-4. thought I would like a fast car. but I really really miss my trac. I am thinking about going back to the trac. I purchased the srt-4 for 21,500. my 03 trac traded in for 15500 plus 2k for aftermarket parts. My question is how much do you think I will take a hit for this re-transaction? I am able to get "true employee pricing" thru my work. If ford takes my neon an does a complete payoff so im not in the whole with it, Should I do It??



Thanks Guys

 

[FlipTrac_511]

I have no ideas what the numbers will look like, but this is a major decision and I would sit down and carefully weigh the pros and cons. You traded in your Trac for a reason and couldn't find it in the Srt-4. Perhaps the Dodge simply isn't the car for you. I've heard lots of good things about the Neon Srt-4 (outside of appearance, no offense), maybe it just needs some time to grow on you. Then again, you've been driving it for over a month now haven't you?

 

[TrainTrac]

Try to sell the Neon out right before trading. You'll lose your shirt if you try to trade the Neon. Either way, you're most likely going to have to absorb a loss on the Neon.

 

[M B]

I just traded in my 2000 Ranger for a Hyundai Elantra. I drove the ST all winter and most of this spring. Then my hubby got my Chevy Beretta fixed and I've been driving that until the Hyundai. It's hard from driving the ST and then to a car. I feel smaller and ordinary driving a car. But I've gotten used to it. I feel better when I fill the car once a week if that. The ST I would have to fill every four days or so. I would give the Neon some time to get used to. (Your wallet may thank you!) If things aren't better, then I'd go back to the ST. Good Luck either way.

 

[EddieS'04]

Audiotechy...If you want this body style, you want have long to buy, before production is shut down for the next generation. Or the best financial option may be to find a good used Trac.

 

[Allen Graham]

Reality check. Trac's have a high resale value. Neon' don't.

 

[Nelson Atwell]

Typically, a vehicle will depreciate at least 10% just driving it off of the lot. You've also paid almost nothing on the principal of your loan. It also looks like you might have had 3 years remaining on your original ST loan. You have to be WAY upside down on your Neon loan.



If I were you, I would keep the Neon. It is a pretty cool car, and like others said, it gets better gas mileage than an ST. With gas prices being forecast to hit $3.00/gallon on average before the end of the year, you may be able to save some money to pay down the loan.



I know that it sucks to wait for something that you really want. I have the same problem -- I want instant gratification when I decide I "need" something. If I really think about it though. I already have everything I need. It is the "wants" that get me into trouble every time.



Take it from a guy who has chose to pursue a few "wants" in his life. They will leave you poorer, and in the end you'll be disappointed.

 

[Scott C]

Trac's have a high resale value?? Since when? lol I've never seen a Ford with a high resale value.

 

[Robert Poole]

Ford Trucks normally have high resale. The cars take it in the throat because a lot of them are in the rental fleets like Tauruses for example. 2 people buy a Taurus, one is a family and one is a fleet. The fleet people max out the amorization on the car for max tax writetoff, then sell the car 2 years for residuals. WHen the car goes to a dealer, they make no distinction between fleet and family, to them both are the same car, and with soo many amoritized Tauruses coming in from fleet, the family trading the car in takes it in the jugular. It also generates a lot of hostile feelings from the family that gets rooked. For that reason Ford has pretty much quit selling cars in large amount to fleets. I build the Taurus here in Atlanta, I have 3 of them and they are good cars, but the resale bites, unless you keep it for a long time. the 2006 Taurus is the last of the big fleet cars. the 500 isn't sold in large amouts to fleets, the Fusion coming in later this year will be used as a fleet car. FOrd has 2 vehicles taking the market segment that the Taurus has. The 500 is upscale and the Fusion is the lower part of the market, including fleet.



I hope this helps.



Have a good one



Bob

 

[Mike Wilson]

R.Poole has a good line on this, At-1. My wife works at Ford Motor Credit here in

Tennessee, and she has told me all kinds of stories about vehicles and their different

values over their "financing" life. I just bought a fully loaded (may have helped)

2005 XLT Premium 'Trac. Sticker was $30,816 out the door. With the incentives,

rebates, FoMoCo credit discount, taxes and all, I signed the finance credit contract

for $23,800. Got on line the other day to KBB.com, etc... just to see what it

would be worth trade-in and retail. Trade-in was $24-ish, and retail or private seller

was $26-ish, both equal to or more than I owe on it!!! Never had that happen with

any other vehicle that I have purchased.

 

[Heather Kudela]

You traded the Trac for neon??????????:blink:

 

[Tom Schindler]

My father got a 2004 Ranger in December of 2003. Paid $12,000 for it. After 1 year, he could have traded it in for $12,000.



It that would have been my Ranger, I would have traded it. Drive a car for a year for free?



Where do I sign up?



Yes, the Trac does have a higher then average resale value because Ford limited the production numbers. All cars loose thier @$$ after the first year. The Trac's resale is higher then average...look it up.





Tom

 

[Nelson Atwell]

I looked it up, and here are the results!

 

[Tom Schindler]

What did that show me? Not one truck was listed.



Really nothing. Compare the Tacoma, Frontier, Colorado or S-10, and Dakota.



Also take into consideration that most American cars offer rebates where many imports dont. So, you buy a Taurus, as an example, for a sticker price of $25,000 and an Accord for $25,000.



According with the link you sent, lets say the Accord is now worth 12,250.



Lets say the Taurus is worth only 40% of it original value. Lets say it is $10,000, BUT the Taurus had a $3500.00 rebate. So you actually paid $21,500.00. The residual value of the Taurus is actually 46.5%. Sure it might not be exactly the same as the Accord, you had $3500.00 in the bank for that time. Your monthy payments would have been lower too. You would have had more money to spend on other things like vacations, food, electricity, and most of all GAS.



Resale value isn't everything.





Tom

 

[Nelson Atwell]

Sorry...had the wrong link. This one is better.

 

[Tom Schindler]

Actually, it isn't. The Nissan Frontier, Toyota Tacoma, Colorado or S-10, and Dakota isn't on that list.



Second of all, I find it very interesting that the F-150 is 1.6% behind the Tundra in resale value, yet Ford produces over 10 times the amount of F-150's then there are Tundra's built.



So, while you MIGHT pay more for a used Tundra, you would have to shop for a long time to buy one you like, or just drive around the corner and find 20 perfect F-150's.





Tom