Decisions Decisions!

[JimmyXR6T04]

hey guys,

need some advice. I went into my local ford dealer today and enquired about trading in the 2004 mark1 for a 2005 mark2. Here is my problem...

I want to go further with my mods, to around 280rwkw or 300. The T5 is obviously not the best choice. The car I am being offered is a demo, has 4000km on the clock, premium audio, sports leather, climate control, etc etc. Now, I currently still owe $38,000 big ones on my current car. The dealer said that for the repayments I am making now, I can be sitting in the mark2. However, this means refinancing and I am unsure if the loan will be the same repayments over 5 years, or same repayments over the 4yrs remaining.

If its the later, then I would be crazy not to jump into the mark2! my car has 28000km on the clock so far.

I have a meeting with the dealer tomorrow morning so they can tell me the final figures. the only thing is, its a 4spd auto, and I would prefer the T56. However, if the price is right, and I can get away with paying off my current loan and no extra I think I'd be crazy to pass it up. It seems to good to be true though!

I have a feeling they will come back and say that I need to pay my $1000 per month for a further 5 years, which will then make it a non viable situation. I would probably prefer to spend the 7k and put a t56 in the current car.

What would you guys be doing??? I will post more details tomorrow when I find out the final offer!! P

PS - I love my blood orange T, and trading it in would mean I would be driving a white car (taxi)

[XR06T]

if your current car has the options then im thinking stick with it and do the transplant. for the same money/month I rekon they are talking about a 5 year loan..

that's 12 more payments than you'll make now I assume, so is that <7K??

that's the decision I'd be making..

[harvyk]

If I where you I'd put a T56 into your current car rather than getting a Mark II... (There are a few on the forum who have done it)

I can't see how a dealer could swap you from a Mark I to Mark II keeping you at your current repayment level over only 4 years without taking a massive loss, so I'd be very careful if you do go the Mark II route as you may find your loan has either gone up or it's now back to 5 years instead of 4... dealers are very quick to point out the positives of a deal, you only find out about the bad stuff once you have signed the bottom line or ask very direct yes \ no questions...

[nang3]

yeh it would have to be over 5 years... maybe even with a balloon payment knowing these dealers haha

[JBomb3000]

I did a similar thing when I upgraded from N/A to the turbo. I ended up with 4 and a half grand cash from the old one after I paid out the loan. I put that into the new one I was able to upgrade to the turbo with the same repayment but with the loan starting again I was back to a 5 year term.

I was only a year into the other loan so I'll be making the same repayments but for an extra year but I'm driving a brand new turbo. Semed like a good way to go to me.

[T007]

You dont like the auto in the Mark ii

you dont like the color

you will pay more and have a loss

you like the orange on your current car

I think you answered your own question

[Flukey]

  JimmyXR6T04 said:

PS - I love my blood orange T, and trading it in would mean I would be driving a white car (taxi) 

There are thousands of T's on the market at any one time. Why not wait until you find exactly the car you want.

I also think you will be BIG$$$ out of pocket as there is no way the dealer is going to offer you $38K for your car.

While repayments might sound the same, I think it will cost you $10K to do the deal.

[XtRmn8]

$1000/month for a car!

[HellionXR6T]

Yeah, I did the same, Series 1 T5 XR6T ute for a MK II T56 XR6T Sedan. Over the moon with the choice though. Yeah I'm paying more as it was an $8K change over but they gave me a $30K trade for the ute, 21,000kays, still in A1 condition (minus the cabin rattles, diff klunk, etc, blah, blah)... The T56 feels so superior to the T5, absolute pleasure to drive. I was lucky though, scored a car with more options incl. Luxury pack, AMG Quakes, Tint, etc.....$38,000 with 10,000kms on clock. If only it was Mandarin but Shockwave still rocks, the chrome rims and the dark metallic tint really do suit the car so I thought, yep, why not.

[JimmyXR6T04]

  XtRmn8 said:

  $1000/month for a car! 

<{POST_SNAPBACK}>

its only that much because at the time of purchase we traded my girlfriends car which she still owed nearly 10k on. In the end I've won a pretty sweet deal, she pays for half the T, and only drives it when I have had too much to drink

I am under the impression that they will make me go on another 5 year term and pay around the same dollars per month, which will not be worth it. I just thought I'd try my hand at trying to upgrade to a mark2 at minimal cost!

after speaking with a mechanic mate who offered his services to help install a T56 I think I will go that option. Unless something spectacular happens during this deal and I can run away with an absolute bargain (which I doubt).

However, if things did work out... I think I would be willing to trade in for a white coloured auto, especially because its got 24k less kms on it!! However, this seems unlikely!

I guess I will see what happens when I speak to this dealer tomorrow!! I will keep you guys informed!

thanks for all the input!!