Ok this has me stumped. I'm talking trucks and stuff here. I've seen several people with new trucks, lets say an 2002 model, they trade them in on a 2003 and say they saved money...how? Take mine for instance.....2002 FX4 Supercrew....got it for 4yrs with very little interest. Well now Ford is offering 0% for 5 yrs I believe. Would it benefit me trading up? Or just end up owing a lot more.

Two ways that I can think of to save when trading up.....


1) If you are currently paying an interest rate of 8% (random rate) and you get 0% on a new one. You won't pay any interest money and you'll have a newer vehicle.....better resale.

2) In my case I can save money by buying new for tax reasons with my business.

Buck

You might be able to save money on a monthly basis, but you'll loose on trade in value.

yeah thats what I was thinking. I am not upside down or anything on my truck, the only reason I'd trade is for the new '04 F150 in October. I just have seen many people I know trading up but I have been raised thinking that only gets you further and further in the hole. I have a friend that brags a lot that he's owned vette's, etc etc. only because they have been financed for outrageous amounts. I guess my best bet is to keep what I have and get it paid off quick like I'm trying to.