Car Advice..vol. Escalade

[i won]

here is my situation...

I own an 08 escalade (paid off, no humble brag)
local Cadillac dealership called and wants to offer me 35k for it for trade in value.

Would it be smart to trade it in for a 2012 model?  I'm trying to justify trading in a paid off car for something I am going to have to make payments on again.  But on the other hand, the 08 just went out of warranty...

What would you do?  Keep the 08, or make the upgrade?

 

[solecity]

35,000K??? JUMP ON IT FAST!

 

[milestailsprowe]

Do you want the upgrade is the real question. Thats another slew of payments you will have to do for a newer nicer car

 

[i won]

Originally Posted by milestailsprowe

Do you want the upgrade is the real question. Thats another slew of payments you will have to do for a newer nicer car

The whole idea of "being out of warranty" scares me.  I would do it for piece of mind, knowing that I have a brand new car and don't have to worry about anything for another five years.

But the downside is that I have to make those payments again...each side has it's positives/negatives.

If anybody can convince me what move to make, it's gonna be NT

 

[patmc13]

I got an 07 ESV pushing 150,000 miles.  Still drives very smooth, and no major problems with it at all.  I would wait until they change up the body style on it before trading up...

 

[kingtre]

you have to look at all the terms of the deal...i'm not saying its bad in your situation cause i dont know that BUT this is a marketing tactic...

once you get your car inspected the offer will probably come down and if it doesnt then the price of whatever they put you in will be inflated and the interest will prob be high...basically saying at the end of the day they will get theirs...dealerships are not in the business of charity or good deeds...if they wanna give you 35 that means they can sell it for 40+

whats the kbb on your car? is it rare at all? they do 100s if not 1000s of leases so im sure theres no shortage of 08s/09s etc coming back all the time or a available at auctions...why yours?

 

[jking0821]

Kelly Blue Book your 08.  If it is out of warranty does that mean your over 50k miles or so?
I don't see how it could be worth anywhere near 35k.  It sounds like a great offer.  And since your 08 is paid off i am assuming a car payment won't really kill you financially.  I would do it in a heartbeat.

 

[storm2006]

Originally Posted by I WON

Originally Posted by milestailsprowe

Do you want the upgrade is the real question. Thats another slew of payments you will have to do for a newer nicer car

The whole idea of "being out of warranty" scares me.  I would do it for piece of mind, knowing that I have a brand new car and don't have to worry about anything for another five years.

But the downside is that I have to make those payments again...each side has it's positives/negatives.

If anybody can convince me what move to make, it's gonna be NT

If you don't mind me asking, what would your payments be like? I ask for two reasons: 1. If you think you can handle the payments, without living outside your means, I think you should do it. 2: While you will be making payments you won't have to pay anything in terms of maintenance because you're under warranty. It's possible that if you keep your '08 for the same duration as your new loan the amount of  money spent on maintenance may end up being close to what you would have paid for the new car, maybe even more, in which case you might as well get the 2012.

 

[dirtylicious]

basically you're paying almost 9k per upgraded year.

to me.. that's not worth it.

 

[i won]

Originally Posted by Kingtre

you have to look at all the terms of the deal...i'm not saying its bad in your situation cause i dont know that BUT this is a marketing tactic...

once you get your car inspected the offer will probably come down and if it doesnt then the price of whatever they put you in will be inflated and the interest will prob be high...basically saying at the end of the day they will get theirs...dealerships are not in the business of charity or good deeds...if they wanna give you 35 that means they can sell it for 40+

whats the kbb on your car? is it rare at all? they do 100s if not 1000s of leases so im sure theres no shortage of 08s/09s etc coming back all the time or a available at auctions...why yours?

the KBB is $35,500 and that is in "good" condition, I would consider mine perfect...only flaw is that the windshield wipers need replaced (peanuts).  Is it a marketing tactic?  absolutely, but here is how I see it.  At the end of the day, they want me to spend more money at their dealership, right?  So I think that is why they are making such an aggressive offer, they realize this is the only way I am going to make another purchase at this time.  And besides, there going to make their money in two ways...reselling my trade in, and selling me a brand new car..

 

[doublejs07]

Before the trade-in, I'd see if I could sell it on my own for close to 40k.

 

[i won]

Originally Posted by Storm2006

Originally Posted by I WON

Originally Posted by milestailsprowe

Do you want the upgrade is the real question. Thats another slew of payments you will have to do for a newer nicer car

The whole idea of "being out of warranty" scares me.  I would do it for piece of mind, knowing that I have a brand new car and don't have to worry about anything for another five years.

But the downside is that I have to make those payments again...each side has it's positives/negatives.

If anybody can convince me what move to make, it's gonna be NT

If you don't mind me asking, what would your payments be like? I ask for two reasons: 1. If you think you can handle the payments, without living outside your means, I think you should do it. 2: While you will be making payments you won't have to pay anything in terms of maintenance because you're under warranty. It's possible that if you keep your '08 for the same duration as your new loan the amount of  money spent on maintenance may end up being close to what you would have paid for the new car, maybe even more, in which case you might as well get the 2012.

On top of the trade in I would put in another 5k to make an even 40..just an estimate, but if I get the 12' for 65k..payments would be around $400.  And yes, your thought process is the same as mine, by keeping the 08' I feel like I would be taking a risk...and I'm not a fan of taking risks

 

[kingtre]

Originally Posted by I WON

Originally Posted by Kingtre

you have to look at all the terms of the deal...i'm not saying its bad in your situation cause i dont know that BUT this is a marketing tactic...

once you get your car inspected the offer will probably come down and if it doesnt then the price of whatever they put you in will be inflated and the interest will prob be high...basically saying at the end of the day they will get theirs...dealerships are not in the business of charity or good deeds...if they wanna give you 35 that means they can sell it for 40+

whats the kbb on your car? is it rare at all? they do 100s if not 1000s of leases so im sure theres no shortage of 08s/09s etc coming back all the time or a available at auctions...why yours?

the KBB is $35,500 and that is in "good" condition, I would consider mine perfect...only flaw is that the windshield wipers need replaced (peanuts).  Is it a marketing tactic?  absolutely, but here is how I see it.  At the end of the day, they want me to spend more money at their dealership, right?  So I think that is why they are making such an aggressive offer, they realize this is the only way I am going to make another purchase at this time.  And besides, there going to make their money in two ways...reselling my trade in, and selling me a brand new car..

exactly...so you have to verify the terms of the new deal before someone can say if you should go for it or not right? have you talked to them about the price/options/terms etc of the '12?

also did you bring your car in and have them tell you the 35k offer stands?

 

[i won]

Originally Posted by Kingtre

Originally Posted by I WON

Originally Posted by Kingtre

you have to look at all the terms of the deal...i'm not saying its bad in your situation cause i dont know that BUT this is a marketing tactic...

once you get your car inspected the offer will probably come down and if it doesnt then the price of whatever they put you in will be inflated and the interest will prob be high...basically saying at the end of the day they will get theirs...dealerships are not in the business of charity or good deeds...if they wanna give you 35 that means they can sell it for 40+

whats the kbb on your car? is it rare at all? they do 100s if not 1000s of leases so im sure theres no shortage of 08s/09s etc coming back all the time or a available at auctions...why yours?

the KBB is $35,500 and that is in "good" condition, I would consider mine perfect...only flaw is that the windshield wipers need replaced (peanuts).  Is it a marketing tactic?  absolutely, but here is how I see it.  At the end of the day, they want me to spend more money at their dealership, right?  So I think that is why they are making such an aggressive offer, they realize this is the only way I am going to make another purchase at this time.  And besides, there going to make their money in two ways...reselling my trade in, and selling me a brand new car..

exactly...so you have to verify the terms of the new deal before someone can say if you should go for it or not right? have you talked to them about the price/options/terms etc of the '12?

also did you bring your car in and have them tell you the 35k offer stands?

Haven't done any of the legwork yet, just wanted opinions to see if my financial thought process was out of wack in doing this....I rarely look for advice, but this is a tough decision for me...makes it even harder with the devil sitting on my shoulder telling me to get the shiny new one with new wheels and forget the rest

 

[kingtre]

at the end of the day only you know what your money situation is like and what your needs/wants are - once you get the new terms you can see if its a good deal and then go from there

keep this thread around long enough and your gonna get told to forget the lade and cop a m3, charger wit da hemi, audi a8L etc etc

 

[i won]

Originally Posted by Patmc13

I got an 07 ESV pushing 150,000 miles.  Still drives very smooth, and no major problems with it at all.  I would wait until they change up the body style on it before trading up...

.  My truck has been great for me as well (knock on wood) no real problems other than the damn armrests in the back always come loose

 

[i won]

Originally Posted by Kingtre

at the end of the day only you know what your money situation is like and what your needs/wants are - once you get the new terms you can see if its a good deal and then go from there

keep this thread around long enough and your gonna get told to forget the lade and cop a m3, charger wit da hemi, audi a8L etc etc

 

[teamjordan79]

they wanna sucker u in from something u own to something u have to keep paying for? Na fambs. Ride your truck out and then sell it yourself. 

 

[crcballer55]

Think like the dealer for a second. Why would they call out of the blue to offer to trade in your truck for that amount? It could be that they want you to upgrade your car and get you back into making payments to them, right? This isn't just an altruistic move, especially since gas prices are sky high and most people aren't running out to buy Escalades right now.

Like Dirty said, you're also paying a hefty amount to get the new model year. For $9000/yr. couldn't you self warranty the car yourself? If something goes wrong you'll easily have the cash to pay for it when you're not making payments to the dealer.

 

[oh you mad]

Originally Posted by crcballer55

Think like the dealer for a second. Why would they call out of the blue to offer to trade in your truck for that amount? It could be that they want you to upgrade your car and get you back into making payments to them, right? This isn't just an altruistic move, especially since gas prices are sky high and most people aren't running out to buy Escalades right now.

Like Dirty said, you're also paying a hefty amount to get the new model year. For $9000/yr. couldn't you self warranty the car yourself? If something goes wrong you'll easily have the cash to pay for it when you're not making payments to the dealer.

This man speaks the truth.

 

[al audi]

there is nothin like a brand new whip, i was with moms yesterday gettin the new GS.
all i know is from here on out, im leasin and swapaleasin.

Q1 ends march 31st right? myfico should be lookin better than it already was soon, im ready.

also, your warranty is up? get rid of it.

 

[al audi]

Originally Posted by Oh YoU MaD

Originally Posted by crcballer55

 For $9000/yr. couldn't you self warranty the car yourself? If something goes wrong you'll easily have the cash to pay for it when you're not making payments to the dealer.

This man speaks the truth.

DEPENDS on the car......
know a chick who BMW engine went at 60k (warranty was up), they said like 6k

good thing she came from money, mommy copped her a Q7 truck

 

[i won]

Originally Posted by crcballer55

Think like the dealer for a second. Why would they call out of the blue to offer to trade in your truck for that amount? It could be that they want you to upgrade your car and get you back into making payments to them, right? This isn't just an altruistic move, especially since gas prices are sky high and most people aren't running out to buy Escalades right now.

Like Dirty said, you're also paying a hefty amount to get the new model year. For $9000/yr. couldn't you self warranty the car yourself? If something goes wrong you'll easily have the cash to pay for it when you're not making payments to the dealer.

I could self-warranty the car, but I would rather throw money at a new vehicle than pay for repairs on an old one...that's the basis of my ultimate decision

 

[al audi]

Originally Posted by I WON

Originally Posted by crcballer55

Think like the dealer for a second. Why would they call out of the blue to offer to trade in your truck for that amount? It could be that they want you to upgrade your car and get you back into making payments to them, right? This isn't just an altruistic move, especially since gas prices are sky high and most people aren't running out to buy Escalades right now.

Like Dirty said, you're also paying a hefty amount to get the new model year. For $9000/yr. couldn't you self warranty the car yourself? If something goes wrong you'll easily have the cash to pay for it when you're not making payments to the dealer.

I could self-warranty the car, but I would rather throw money at a new vehicle than pay for repairs on an old one...that's the basis of my ultimate decision

EXACTLY
you know what to do.

 

[dirtylicious]

Originally Posted by I WON

Originally Posted by Storm2006

Originally Posted by I WON


The whole idea of "being out of warranty" scares me.  I would do it for piece of mind, knowing that I have a brand new car and don't have to worry about anything for another five years.

But the downside is that I have to make those payments again...each side has it's positives/negatives.

If anybody can convince me what move to make, it's gonna be NT

If you don't mind me asking, what would your payments be like? I ask for two reasons: 1. If you think you can handle the payments, without living outside your means, I think you should do it. 2: While you will be making payments you won't have to pay anything in terms of maintenance because you're under warranty. It's possible that if you keep your '08 for the same duration as your new loan the amount of  money spent on maintenance may end up being close to what you would have paid for the new car, maybe even more, in which case you might as well get the 2012.

On top of the trade in I would put in another 5k to make an even 40..just an estimate, but if I get the 12' for 65k..payments would be around $400.  And yes, your thought process is the same as mine, by keeping the 08' I feel like I would be taking a risk...and I'm not a fan of taking risks

so you think you're going to pay ~30-35K on repair costs on your 2008 over 4 years?(b/c you know you're going to get that new car itch after another 4)
I know cadillacs are expensive to maintain..but that's crazy