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Possible trade-up to '22 GT - may I be an idiot?

spedy7

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This has been really floating in my brain since Friday lol.

One of the sales guys at our dealer told me I'd be able to trade my '20 HPP in for quite a bit more than I owe on it currently. I talked to him later and got a rough trade value of $28k-$30k for my car with ~$22k left on the loan (financed for $28k OTD). I'd love to take advantage of the stupid covid prices and order a GT with that chunk of money - always wanted a GT and I feel more pushed to do so thanks to the pressure on automakers to go electric.

I'd be looking at a 301a GT with black pack and active exhaust, maybe spare tire as well. $42k (!) before taxes and everything. I'd have to consult with our sales guys but If they could swing a few thousand more on trade and/or off MSRP, I'd feel comfortable with payments that would be near what I pay now through my own bank at the same loan term. Waiting another 4-5 months until the car gets delivered will also net a bit more on trade (if still honored) but also money tossed in the wind.

I don't know if insurance will decide to up my premium or not, I do know I'll be fueling up more (but I can actually use 87 without losing 50-100 HP), registration will probably be more. I'm fine with my car as-is if I can't get a proper deal to be financially comfortable, pretty much at a 50-50 to whether I want to say 🤬 it or walk away. Mainly want a GT just to experience the Coyote power before I no longer can. If I can't get what I want, I'll probably just wait until the Bronco ages a bit and order a 2 door.

Kinda wanted to get it out of my brain and see what others say, whether I'm a total idiot or not lol.
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Pkvir

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This has been really floating in my brain since Friday lol.

One of the sales guys at our dealer told me I'd be able to trade my '20 HPP in for quite a bit more than I owe on it currently. I talked to him later and got a rough trade value of $28k-$30k for my car with ~$22k left on the loan (financed for $28k OTD). I'd love to take advantage of the stupid covid prices and order a GT with that chunk of money - always wanted a GT and I feel more pushed to do so thanks to the pressure on automakers to go electric.

I'd be looking at a 301a GT with black pack and active exhaust, maybe spare tire as well. $42k (!) before taxes and everything. I'd have to consult with our sales guys but If they could swing a few thousand more on trade and/or off MSRP, I'd feel comfortable with payments that would be near what I pay now through my own bank at the same loan term. Waiting another 4-5 months until the car gets delivered will also net a bit more on trade (if still honored) but also money tossed in the wind.

I don't know if insurance will decide to up my premium or not, I do know I'll be fueling up more (but I can actually use 87 without losing 50-100 HP), registration will probably be more. I'm fine with my car as-is if I can't get a proper deal to be financially comfortable, pretty much at a 50-50 to whether I want to say 🤬 it or walk away. Mainly want a GT just to experience the Coyote power before I no longer can. If I can't get what I want, I'll probably just wait until the Bronco ages a bit and order a 2 door.

Kinda wanted to get it out of my brain and see what others say, whether I'm a total idiot or not lol.
Why not? If that's what you want to do.
 

oneheadlite

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...before I committed to the dealer, I'd check out Vroom, CarMax and
Carvana and any other car buying service.
You can get a better price, usually by selling instead of trading in.

.......I'd check it out. You might be surprised @ an offer..............:rockon:
 

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What your getting extra for your trade in you are paying back on the new one. If the 14K is worth it to you going from a 20 eco to a 22 GT then do it.
It sounds like they are sitting right around sticker on that one, why not look at the many dealers who advertise extremely low pricing on there ordered cars? Granger for example.
They did 9K off my TRX order and if im not mistaken are doing well below sticker on regular GT's
 

LOL WUT

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Pretty sure Ford is offering 0% APR right now too. YOLO.
 

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Hack

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Financially it doesn't make sense, but as long as you have your financials/savings in order and this is just mad money you are spending, then why not? I've definitely been there done that with changing cars too often and spending too much doing it - so I could hardly criticize you.
 
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spedy7

spedy7

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...before I committed to the dealer, I'd check out Vroom, CarMax and
Carvana and any other car buying service.
You can get a better price, usually by selling instead of trading in.

.......I'd check it out. You might be surprised @ an offer..............:rockon:
I've thought about that, the only issue is I have no other running vehicle as my '66 is in the middle of a motor transplant. I'm certain they'd offer more though, I did find one very nice '20 GT premium with almost everything I wanted at $41k, only 4600 miles on it too. I just don't know what state(s) it lived in.

What your getting extra for your trade in you are paying back on the new one. If the 14K is worth it to you going from a 20 eco to a 22 GT then do it.
It sounds like they are sitting right around sticker on that one, why not look at the many dealers who advertise extremely low pricing on there ordered cars? Granger for example.
They did 9K off my TRX order and if im not mistaken are doing well below sticker on regular GT's
Yeah, that's my wall right now. Essentially a reset if I go through, but at a price that wouldn't be extensively more than what I already pay (if that can be done). I don't know if we could move on order pricing, I'd have to check and talk it over with sales. I'm just basing everything off what Ford's MSRP is right now. I also don't know how that would work out with a trade and with Granger being up in Iowa - that's quite a drive that I just did a couple months back lol.
 

Louk

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I also don't know how that would work out with a trade and with Granger being up in Iowa - that's quite a drive that I just did a couple months back lol.
Too Easy, Local trade it , one way plane ticket to Iowa, or have it shipped and still save thousands!
 

velocityblue5.0

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i did it. traded my 2014 v6 in for more than it was worth definitely to finally get a GT after all those years of wanting one. and honestly, i said i would never ever afford or pay 50k for a car…yet here we are….lol so i say get premium and 401a.
 

Bikeman315

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James, as a former EB owner all I can say is forget your head. Coyotes warm you heart. I loved my EB but I would never regret getting my GT/CS. Unless your willing to wait and see what the S650 is bringing to the table (V8 has already been confirmed) a move to a S550 GT will make you a very happy man. đź‘Ť
 

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Labradog

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We don't know your financial situation, but this seems like a bad idea unless you have money to burn. China and the US are seeing who can kick the can just a little longer so the other falls first and takes the blame for the world economy going to shit. Things could get very bad very quickly.
 
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spedy7

spedy7

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i did it. traded my 2014 v6 in for more than it was worth definitely to finally get a GT after all those years of wanting one. and honestly, i said i would never ever afford or pay 50k for a car…yet here we are….lol so i say get premium and 401a.
Never thought I'd be looking at a $40k car either, but here I am lol. I wish I could go with a 401a, your car is exactly what I want.

James, as a former EB owner all I can say is forget your head. Coyotes warm you heart. I loved my EB but I would never regret getting my GT/CS. Unless your willing to wait and see what the S650 is bringing to the table (V8 has already been confirmed) a move to a S550 GT will make you a very happy man. đź‘Ť
Warms the soul indeed lol. I did have my regrets initially after buying my EB...and looking back now I probably should've just waited for a GT, but that time has passed. I still enjoy it once I'm in the driver's seat, glad I got a HPP and not base EB at the least.

We don't know your financial situation, but this seems like a bad idea unless you have money to burn. China and the US are seeing who can kick the can just a little longer so the other falls first and takes the blame for the world economy going to shit. Things could get very bad very quickly.
Yeah, the future is a worry. I'm not upside down on payments on anything but also not rich, basically want to enjoy what I can before I can't.

After sleeping on it for a few days and getting some input, I think I'll see what deal can be done. If they can up more on trade and/or bring down the total OTD price to something manageable a GT may be in the future. If not, then I'll be tinkering with my '66 and throwing money at that instead lol.

Sometimes I really hate having an expensive hobby and passion, why can't cars be cheap again?
 

Bikeman315

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I still enjoy it once I'm in the driver's seat, glad I got a HPP and not base EB at the least.
If that is the case your GT should be one with the Performance Package or you might be disappointed. Remember you have a lot more weight in the nose of the car.
 

Bobn57

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If you can afford it then go for it. Life is short and no one knows how the future of these fine cars will play out. I’m coming from an 06 GT 4.6L that had 300Hp stock. Your HPP had that beat with a 4 banger. I’m loving my Coyote GT/CS. I missed some good deals and financing in late 2019 and early 2020 but still went ahead with my order in June 21. Originally wanted just a base GT but happy I upgraded to a premium. Glad I didn’t put off any longer. Good luck with your decision.
 

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Take insurance out of the equation.
My 16 EB and 20 GT have almost identical yearly rates.
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