Need opinions on trade-in value

[07TGGT]

So I'm looking at getting into a Ford Edge and my Ford Dealership offered me $24K for my car. It's in line with KBB trade in value but I would like y'all's opinions. 27K miles, Premium GT, Shaker 500, Appearance Package(spoiler, louvers, etc), one accident.

And before y'all ask, I don't want to let go of her but my family comes first and I need a larger car.

 

[UltraKla$$ic]

I vote INSTABAN!!!!!

Get a beater van!! LOL!

 

[Steedman07]

Get a few different opinions from other dealers. You may get more from one dealer if they dont have many pre-owned in stock or if you find a dealer that is inthe game when it comes to pre-owned mustang sales. Its all relative though based on how much they are selling you the Edge for, new or used..

 

[07TGGT]

I get Employee pricing here, and trading in where I buy saves me on Sales Tax.

 

[05gtowner]

I have 2 kids and the wife and we fit fine on my 05. What I did do was find a older K5 for cheap and use that as a family SUV if we need or want to go camping or haul a bunch of stuff. Cheap, easy to repair, inexpensive insurance and best of all no payment or need to sell my mustang.

 

[07TGGT]

I have three kids between my gf and I.

I'm not buying used either.

 

[05gtowner]

Gotcha. Well good luck then. They are being VERY generous in their offer considering it has one accident and the color. That car here in CA is a 22-30K car depending on the severity of the accident. http://www.autotrader.com/cars-for-...T%7CGT+Premium]][]]&listingId=372656943&Log=0

 

[JEWC_Motorsports]

Sounds like the GF needs to get a bigger car, not you.

 

[07TGGT]

Her Focus is too small also. Right now it's just best to have own vehicle. Need to get stable. I can always get another Mustang. Priorities change.

 

[Mystickeith50]

Sounds like the GF needs to get a bigger car, not you.

Lol agreed....but I understand. I think that trade in is very reasonable.

 

[TexasBlownV8]

On any trade-in, make sure you know the real value you are getting. Dealers like to take that off of the sticker price, and not a lower price you may be able to get; many employers and banks/credit unions allow you to get a price much lower than sticker without having to haggle. As long as the trade-in value is reflected on the negotiated price first, then that sounds like a great deal for you.
Yes, you are wise to take the sales tax aspect into account; $1500 in sales tax savings from doing the trade-in simply adds value to the deal for you.

Sometimes you have to do what you have to do, especially for a growing family. But, when they grow up and get out of your hair, THEN you can get back into the toys!

 

[claudermilk]

Sell the Focus! That's what I did. Went from 0 kids to 3 kids instantly a little over a year ago. Obviously the Focus coupe was not going to cut it, so we had to change cars. I am familiar with the problem you are facing.

We looked at the Edge, but the wife and I are both allergic to minivans & SUVs. We ended up trading the Focus for a '13 Fusion. It has more seating room and the trunk is huge. The Mustang is still here (I thought for a while I'd have to let it go).

 

[05gtowner]

I would secure financing from an outside source first before relying solely on a dealer to finance me. Reason is you will know how much your monthly is right from the get go if you choose to use the entire amount that you are borrowing. I am assuming you have the 13' mustang paid off or are at least ahead in payments correct? If not you are really doing yourself a disservice as you will be upside down and that will get rolled over into whatever car you choose. If you still owe a considerable amount on the mustang then it would be better to trade or sell the Focus and get a bigger car. Reason is the focus is likely paid off or closer to being paid off and you wont roll over much if any negative equity into the new vehicle. Also don't discount a year or two old vehicle because someone has already taken the hit for you on depreciation on that vehicle. Typically the lender will still give you excellent rates on a vehicle that is only a year or two old and you can save thousands off what that same vehicle would cost brand new. Which lowers your monthly and gives you more money in your pocket every month.

 

[07TGGT]

I already know how equity and all that works. I sell cars myself.

I can't keep the Mustang. Plain and simple.

 

[2011/5.0]

Look at the taurus limited or sho plenty of room

 

[mustang02]

I'd love to know what you end up with on a trade value. I'm looking at getting away from my mustang soon.

 

[UltraKla$$ic]

Vasectomy > Mustang > GF and kids


/end thread

 

[07TGGT]

Look at the taurus limited or sho plenty of room

Don't want a huge payment again.

 

[05gtowner]

I already know how equity and all that works. I sell cars myself.

I can't keep the Mustang. Plain and simple.

If you sell cars for a living you obviously already know fair market value for your trade in, what you owe and what you can afford. Are you asking permission from the forum or for validation in your decision? Because if you already know the numbers side of it then it becomes a personal decision and only you know what is right for you and your family.

"It's in line with KBB trade in value but I would like y'all's opinions" Plenty have given good advice already as far what has worked for them and what would be a fair deal. Honestly they are doing you a favor having offered you 24K for the car. Considering the fact that it already has an accident, it has higher then average mileage for a car technically only a year old and a completely new design will be out soon and every trendy gotta have the latest greatest, non-enthusiast's will want one of those and the market for the 13-15 models are going to take a hit. (how much you would know better then I) It sounds like you have your mind made up, so right now would be the time to get while the getting is good. Congrats and good luck

 

[cbass]

I'd jump on the 27k. Jump hard.

And then regret it later.