Dealership

Yeah. It’s time to hold on to what you have and keep it maintained

 

Well, I have an attachment to my Inferno... and since Inferno is no longer offered, I already know what my answer would be.

To that end, if I were to do this, I'd need to consider the following:

1. The OTD price of my 2020.
2. The equity I have in my 2020.
3. The payment amount on the loan for my 2020. How many more payments I have left on the 2020.
4. The OTD price of my 2022.
5. The payment I'd need to make when I pay off the original loan, and originate a new one. Was there an interest rate change? (i.e. - Did it go from 0.9% to 2.9%)?
6. The duration of the new loan compared to how much is left on the existing loan.

If the payment does not change, there are no more additional payments to make, and I like the new truck more, sure I'd consider it. But if the deal involves me adding another two years of payments, or an increase in payments... I think I'd pass. YMMV.

 

Wise words there!