Originally Posted by atct86
I have a 2014 Limited, with 19k miles, and received a call from my dealer to consider trading it in on a 2015 model.
Does this ever make sense to do? I am financing the car, and don't expect the payments to change, unless I moved up to an overland. I also see this as possible way to get rid of a few scratches and dents on my car from city parking.
It's not that uncommon. lightly used SUV's have a good market so he makes two sales out of the deal. And maybe two happy customers in the end.
You can make out fairly well if you run all the numbers.
I recently swapped a 2014 Limited for a 2015 Overland (initiated by me) and I think I did very good and really like the step up. I really wanted to get the Technology Group Package.
Keep in mind some of the standard options have changed on the Limited.
I got $32,000 back on $37,600 paid for on a 18mo old Limited with 27K, 8.4AN and Tow. And I got a reasonable price on the new Overland $43K with Technology Group. I didn't have a scratch on the Limited. But I did get rid of a bunch of recall headaches and a bowed hatch handle.
I would assume it's always a new loan and if it's a little above or below, who cares. As long as you got a reasonable depreciation is the only number that really matters.
My depreciation worked out to $300.00/mo for 18 months and 27K which I thought was really good. You can compare that to a zero money down Lease which I believe would be closer to $400/mo.
I doubt they would take much off for a couple scratches. Mine was filthy dirty and you could not even see scratches if there were any when they offered $32K.
And you only pay taxes on the difference, not the total new vehicle.
Depending on your state your excise taxes will stay higher longer too. In MA they start very high and go down quickly. By hitting the reset button I pay top excise tax again. You will probably pay some document fees.