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Should I trade in my 2021 Palisade for a 2022?

Bandits16Bandits16 Member Posts: 1
edited March 2022 in Hyundai
Currently have a 2021 Hyundai Palisade Limited AWD with 20K miles. Dealership offering for me to trade it in for a new 2022 with 10 miles. Monthly payment amount would remain the same, but would add on an extra 18 months of payments (currently have 66 payments remaining. Thoughts on whether this makes any sense to consider, or just walk away?

Comments

  • MichaellMichaell Moderator Posts: 240,976
    Bandits16 said:

    Currently have a 2021 Hyundai Palisade Limited AWD with 20K miles. Dealership offering for me to trade it in for a new 2022 with 10 miles. Monthly payment amount would remain the same, but would add on an extra 18 months of payments (currently have 66 payments remaining. Thoughts on whether this makes any sense to consider, or just walk away?

    I'd pass.

    What's so different about the 2022 that would make it worth your while?

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  • explorerx4explorerx4 Member Posts: 19,299
    You would be swapping one 84 month loan for another? Doesn't seem worth it for a lateral swap.
    2023 Ford Explorer ST, 91 Mustang GT vert
  • stickguystickguy Member Posts: 50,507
    so 18 more payments. You don't say what you pay, but assume it is $500. that is $9,000 more over the loan (though discounted for inflation since it is 5.5 years out!)

    would you want a new one by then anyway? paying a lot for that 1 year.

    2020 Acura RDX tech SH-AWD, 2023 Maverick hybrid Lariat luxury package.

  • oldfarmer50oldfarmer50 Member Posts: 22,644
    stickguy said:

    so 18 more payments. You don't say what you pay, but assume it is $500. that is $9,000 more over the loan (though discounted for inflation since it is 5.5 years out!)

    would you want a new one by then anyway? paying a lot for that 1 year.

    Yeah, that’s what I was thinking. he’s basically paying $9,000 to trade up. Unless there’s something wrong with the current car I’d pass.

    2019 Kia Soul+, 2015 Mustang GT, 2013 Ford F-150, 2000 Chrysler Sebring convertible

  • jmonroe1jmonroe1 Member Posts: 7,539

    stickguy said:

    so 18 more payments. You don't say what you pay, but assume it is $500. that is $9,000 more over the loan (though discounted for inflation since it is 5.5 years out!)

    would you want a new one by then anyway? paying a lot for that 1 year.

    Yeah, that’s what I was thinking. he’s basically paying $9,000 to trade up. Unless there’s something wrong with the current car I’d pass.
    Some folks just can’t help themselves and are a dealerships best friend. Folks like this must enjoy being buried in car payments for life.

    I doubt this is the response this buyer was looking for.

    jmonroe
    '15 Genesis Ultimate just like jmonroe's. '18 Legacy Limited with 3.6R (Mrs. j's)
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