Spring182
New member
Question for people that swap vehicles before they're paid off. Last June I purchased a 2013 Ram pickup truck. I am interested in trading it in for a car so I can get better MPG. I owe 28K on the truck. NADA Blue book on it says average trade-in is 19K. So with that I am negative 9K. The cars I have been looking at are priced around 15-16K (2-3 year old vehicles with under 30K miles). Using online auto loan calculators say with that information alone my payment would be the same and thats with a higher interest rate. My interest rate is a 2.5% right now and I plugged in a 8% on the calculator just to see.
I guess my question is does it seem likely my payment wouldn't change much making the switch?? Is it worth it to get better MPG??
I guess my question is does it seem likely my payment wouldn't change much making the switch?? Is it worth it to get better MPG??