JUST UPGRADED TO 2011

[alboone]

I bought a 2010 Edge SEL in January and finally just upgraded to a 2011 Edge Limited after I saw the new My Touch system. My 2010 Edge was Tuxedo black and my new one is Platinum White and fully loaded with everything possible. So excited, love driving it, but love playing with the My Touch even more.

[Edgieguy]

I bought a 2010 Edge SEL in January and finally just upgraded to a 2011 Edge Limited after I saw the new My Touch system. My 2010 Edge was Tuxedo black and my new one is Platinum White and fully loaded with everything possible. So excited, love driving it, but love playing with the My Touch even more.

 

since your edge was so new, did Ford take care of you on the trade in? or did you lose your shirt?

[MOFSTEEL]

since your edge was so new, did Ford take care of you on the trade in? or did you lose your shirt?

 

I'm going to say B.

[alboone]

since your edge was so new, did Ford take care of you on the trade in? or did you lose your shirt?

 

 

My wife works for AAA so we get the X-plan discount, plus the 0% interest, the only money i really lost was the $ I put down and the payments I had made. Also, i had bought a few cars from this guy before so he gave me an extra good deal. I wouldn't have traded it in if I would have had to lose my shirt.

 

It helped that I told them if they could give me a good enough trade in value where I would break even on my loan then I would buy two cars...so they did... I bought my wife a 2010 Taurus Limited AWD on the same day.

Edited September 16, 2010 by alboone

[MOFSTEEL]

My wife works for AAA so we get the X-plan discount, plus the 0% interest, the only money i really lost was the $ I put down and the payments I had made. Also, i had bought a few cars from this guy before so he gave me an extra good deal. I wouldn't have traded it in if I would have had to lose my shirt.

 

It helped that I told them if they could give me a good enough trade in value where I would break even on my loan then I would buy two cars...so they did... I bought my wife a 2010 Taurus Limited AWD on the same day.

 

 

Yup, I was right.

[akirby]

since your edge was so new, did Ford take care of you on the trade in? or did you lose your shirt?

 

What would Ford have to do with the trade-in value? That is strictly between the dealer and the buyer. I'm guessing you meant the dealer when you said Ford.

 

Anybody who trades in a 1 year old vehicle is going to lose their shirt in depreciation. That's just the way the market works.

[alboone]

What would Ford have to do with the trade-in value? That is strictly between the dealer and the buyer. I'm guessing you meant the dealer when you said Ford.

 

Anybody who trades in a 1 year old vehicle is going to lose their shirt in depreciation. That's just the way the market works.

 

Actually I didnt, but why do I have to prove it to you. I dont give a shit what you think. I guess you know everything, including my finances.

[akirby]

Actually I didnt, but why do I have to prove it to you. I dont give a shit what you think. I guess you know everything, including my finances.

 

I wasn't replying to you. Anybody who sells a 1 year old vehicle takes a big depreciation hit. I don't have to know your finances to know that. It's common knowledge.

[alboone]

I wasn't replying to you. Anybody who sells a 1 year old vehicle takes a big depreciation hit. I don't have to know your finances to know that. It's common knowledge.

 

I guess it depends on what "losing your shirt" means to the individual. I agree that a car depreciates a lot after 1 year but since I bought the car at the employee discount price, it gave me a bit of a head start driving it off the lot. I don't consider $35 more a month more than the last car as losing my shirt. It is a much improved car so it is worth it to me.

[akirby]

I guess it depends on what "losing your shirt" means to the individual. I agree that a car depreciates a lot after 1 year but since I bought the car at the employee discount price, it gave me a bit of a head start driving it off the lot. I don't consider $35 more a month more than the last car as losing my shirt. It is a much improved car so it is worth it to me.

 

I didn't mean to imply that it was wrong - it's your money and nobody was saying that you shouldn't spend it. Employee pricing will help with depreciation but on average you'll pay more in depreciation on any car during the first year than any subsequent years, especially if you didn't get employee pricing to begin with.

 

It may only be $35/month but did you end up extending the loan for an additional year beyond the original loan? Again I'm not trying to knock your decision - just trying to educate people on things to consider before making their decision.

 

As an example, if I have a 3 year old car with a 60 month loan and a $500 payment and I trade it in for a new one with a new 60 month loan at the same $500 payment some people think that they're paying the same thing for a newer car. When in fact they went from owing $12K ($500/month for 24 months) to owing $30K ($500/month for 60 months).

 

That's the danger of only looking at monthly payments. People also tend to ignore down payments in their calculation.