QUIKAG

Okay, I am going to drive a new King Ranch F-150 in a few hours. It stickers near $39k.

I bought my Silverado LT (sticker $32k) last year and it has about 18,000 miles on it. It's a great truck and I have had zero problems with it.

I owe about $22k on my Silverado, so I was thinking of offering payoff on my truck and $8k cash in trade for the King Ranch.

I'm not sure what my Silverado is worth, but probably a bit less than what I owe on it.

Thoughts?

steven975

At first glance, I think that is a fair offer.

the variable is going to be what the silverado is worth (i would say the dealer will offer less than kbb trade) and the incentives on the new truck. btw, kbb tradein for a 2004 silverado 1500 extended LT 2WD with 1800V8 (new $33.9K) is $16.9K.

IMO, you're gonna have to lump negative equity into the new truck, and its resale probably won't be that great, either.

QUIKAG

I drove it and I'll let y'all know what happens.

They offered $19k for my truck, which at first glance looks fair, but I'm asking for the $22.7K payoff on it. So, we're about $3,700 off right now.

So, I'm not holding my breath. haha..