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I had my Ford Fusion since last May. It is finance not leased, and was wondering if anyone in here knows how hard or easy it is to trade it for another car? I was thinking of trading it for a Nissan Titan or a GMC Sierra. This is my first finance car and I have no clue how the process works. Any help would be appreciated.
 

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It is very easy.

Go to the dealer, tell them that it is financed and where, they get the pay off and that is about it.

Unfortunately, depending on your situation, you could stand to lose a lot of money.

How much do you owe compared to trade-in value? Anything that you owe over what they give you for your trade-in you will have to pay up front or they may rollover into your new vehicle. This can effect your interest rate too.

Even if you owe less then trade-in or its paid off you will most likely lose money in this deal since depreciation is so great in the first year.

There are to many possibilities to discuss, I would recommend getting someone (friend/family) that has experience that can help you with this.
 

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Speaking of depreciation, the GMC will hold it's value more then the titan.
These are all good pieces of advice. I advice is that you wait until May to try to trade it in because from what the finance people at the dealership tell me that's the shortest you should keep it so that you pay more and have worked up your credit more to get a lower interest rate. Also watch for good deals on financing. I got my Fusion for 0% for 72 months with only $500 down, my payments are only $275.57. Getting a good finance rate can save you so much. Also sometimes if you put more down it will lower your interest rate. When you go to buy a new vehicle remember to ask questions like these. Also don't feel pressured to buy anything, always be prepared to sleep on it. That's what I did, they called me back twice, hence partly why I got such a good deal.

Oh one more thing, my credit score has jumped over 50 points since I bought my car in October and they tell me buy the end of the year I'll have another 50 points or so if I keep things up :D
 

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Doing things on your terms is key in negotiating.

I wish our last two car purchases could have been methodical processes, but we did not have a choice.
 

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I have owned and leased and have NEVER put any money down ( even on a lease where they say cash due at signing.........no way) I told them, "fogetaboutit". Why would I fork over a boatload of cash for basically a long-term rental? No way and no damage deposit either.....are they crazy? Anyway, on the purchases I never put money down and always get 0% on 48 or 60 months depending on how much the dang thing cost. I keep it 3 years and unload it and always come out on top! P.S. I always deal with bro-in-law who is new car manager at Ford dealership.
 

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[quote author=tnoah link=topic=72543.msg1280956#msg1280956 date=1174473796]
... have NEVER put any money down ( even on a lease where they say cash due at signing.........no way) I told them, "fogetaboutit". Why would I fork over a boatload of cash for basically a long-term rental? [/quote]
So your monthly payment was higher than if you would have put the "boatload of cash" down. Any way you slice it, the dealer is gonna make his money.
 

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for leasing, never put more money down than security deposit/first payement. Because if god for bid the car is totaled/lemoned you only lost your monthily payement not downpayement as well.
 

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I thought Cubs fans were smarter than that...your last name wouldn't happen to be Bartman? :lol: :lol: :lol:
 

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[quote author=douglas307 link=topic=72543.msg1280335#msg1280335 date=1174441263]
I had my Ford Fusion since last May. It is finance not leased, and was wondering if anyone in here knows how hard or easy it is to trade it for another car? I was thinking of trading it for a Nissan Titan or a GMC Sierra. This is my first finance car and I have no clue how the process works. Any help would be appreciated.
[/quote]

It will be an easy process but be prepared to grab your ankles, financially.
 

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Dealers don't make jack on new car sales, they make all their money on used cars and service/body shop! Trust me, my bro-in-law is a dealer. He gave me such a deal on a demo one time that the dealership barely made $100 after thediscount off the sticker than the D-plan then the $5000 rebate and .09%loan. Never ever give'em money up front that is just insane! I will stand my ground on that, I don't care who ya are or what you know. I make no apologies.
 
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