Buying a new truck with a trade in

Discussion in 'Experienced Truckers' Advice' started by REEFERman450, Dec 14, 2019.

  1. REEFERman450

    REEFERman450 Light Load Member

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    We currently run as a team. We stay busy and are racking up the miles. What is the process for taking our current truck and trading it in on new one.? Yes we still about 50k on this one. With 379k miles. Thanks....Reefer

    The truck is a 16 pete 579 with auto/ paccar and apu. 379k miles
     
    Last edited: Dec 14, 2019
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  3. tnevin225

    tnevin225 Road Train Member

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    Why trade it? 374k it's barely broke in. Keep running it and pay it off, then think about trade off.
     
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  4. SteveScott

    SteveScott Road Train Member

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    The problem is that with the current glut of used trucks on the market, you probably won't get as much as you owe on your used truck as a trade-in. You still have a lot of life left in a truck with only 375k miles on it. Keep rolling, get it paid off, and build up a savings fund so you won't need to finance as much when you are ready for a new truck.
     
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  5. snowwy

    snowwy Road Train Member

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    If that's your way of thinking now.

    What's your thinking going to be on the new vehicle?

    YOu do realize that 50k will be rolled over on to the new loan. Minus whatever the dealer will give you for yours. Which probably won't be enough to pay off the loan.
     
  6. REEFERman450

    REEFERman450 Light Load Member

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    Team truck running about 5500 miles a week and the 4 yr warranty just expired in Nov. This is why we are thinking of trading it in ..mainly to get a new tri and warranty
     
  7. REEFERman450

    REEFERman450 Light Load Member

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    Why would my truck with 379k not be worth 50k? It's a 16 pete 579 with paccar and apu
     
  8. buddyd157

    buddyd157 Road Train Member

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    he's gonna look at what he has on the front line, then he already knows what's "out back" waiting to be prepped for sales. he's gonna know the used truck market, better than you.

    if your truck needs just 1 ounce of work, like tires, brakes, anything, cha-ching goes his internal calculator...and he's going to low ball your trade in.

    plus those PACCAR engines make the "big sucking sound", and he might have a few right now, he cannot even give away, to a 3rd world country..
     
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  9. JonJon78

    JonJon78 Road Train Member

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    I would definitely negotiate the new truck price before mentioning anything about a trade in. Get that price "set in stone" then mention a trade in...
     
  10. SteveScott

    SteveScott Road Train Member

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    For the same reason it's much better to sell a car yourself rather than trade it in to a dealer toward a new car. They will low ball the crap out of you, and won't give you anything close to book value on the truck.
     
  11. HillbillyDeluxeTruck

    HillbillyDeluxeTruck Road Train Member

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    How much more $ will that brand new shiny truck make you? Why have an even higher payment than you do now?

    Pay that truck off and run the wheels off of it, get rid of the payment and reduce your debt.
     
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