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2014 Ford F150 Trade-In for a LEASE!

wgadojrwgadojr Posts: 1
edited June 2015 in Ford
I have a 2014 f150 lariat fully loaded, LOADED very expensive truck its amazing and worth its price tag, however it was a bad purchase because I took on a 700/m note. I bought it a couple of months ago (january 2015) and I can afford it with no problems but honestly i dont want to afford it..haha if that makes any sense. To top it off I am deploying in November for a year and dont want to pay that much on a truck thats going to sit in a garage. A good friend of mine recommended that I traded it in for a lease and when I get my orders I giver them to the leasing dealer and it will break contract. SOUNDS AMAZING AND SMOOTH. HOWEVERRRRRRRRR, i know I am upside down on my truck. What do you recommend. I would try to sell it to a private party but when have you heard of anyone giving someone 40k cash for a truck? NEVER!
Any help is great help!

Comments

  • Mr_ShiftrightMr_Shiftright Sonoma, CaliforniaPosts: 64,490
    Well if you are upside down on the truck, the dealer is going to fold that negative equity into the overall cap cost of your lease. It's going to be an expensive move for you. Just add up the new lease payments over the time of the lease and you'll see how expensive.

    A private party can get a loan on your truck--it's not a cash deal necessarily. But you will take a loss because of the negative equity.

    No easy way out of this but a man's gotta do what a man's gotta do. This seems to me a case of "pay me now or pay me later".
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