Contour Enthusiasts Group Archives Forums General Common Interests Need Help

Ok here's the deal:

I checked out a 2007 Fusion today. I really liked it, it was 5 speed 4cylinder, fully loaded. The car was $18K.

Now, we have the Ford Z plan from my uncle, military rebate of $500, and trading in the van. Thing is, they still want $6,000 cash to get the payments down to between $525 and $530 a month cause we are so upside down on that van.

That $530 is only $10 a month more than what we pay on the van AND we'd be paying less in gas though. We'd probably save a good $50 to $60 a month on gas, if not more.

Should I try and talk my hubby into this deal, or just say no? We can afford it, and I like the car. I'll miss my van though. The only problem I see is hubby's going to go nuts because the payments are higher than the van. He won't really see the fact that we'll be saving in gas. I can point it out to him but he'll still whine about the payments. He doesn't want that high of a payment, but we can't give any more down.

How many years is that for? I only pay $100 a month more for my Aviator. It's a V8 AWD loaded.

I think you should keep the van.

If you have 6 grand cash to put down and there is nothing wrong with the van then I would put that money to one of two uses. Either pay down high interest credit cards or cards that are close to the limit (which hurts your credit score) or you can invest it into a college fund, rainy day fund, etc.

How much will that $50 - $60 savings each month costs in the long run? You still have to pay off the loan from the van although it's just rolled into the new loan. What is the insurance difference each month between the van and the car? How long will the new loan be? 5 yrs? 7 years? When will the van be paid off? Do you want to be in debt that much longer?

If there is nothing wrong with the van and you just want something new, then it's not a good choice, IMO. Is the new car a want or a need? You need to evaluate that.

Dang... That's what I paid on my loaded Mazda6 with nothing down, extended warranty, protection package, several hundred in accessories, and no special discounts.

What's the interest rate they're quoting you?

Overall, though, I think keeping what you have is the best solution. Trading every couple of years is financial suicide.

we didn't really talk about rates, they just gave me a quote, nothing firm. It's a 72 month loan.

We don't have any high interest credit cards, so we don't have to worry about that.

There's nothing wrong with our van except the high gas bill, and plus it gets SO darn hot out here, we are using the AC more, AND it being a V6 doesn't help much.

I figure we get this car, we'll be saving, actually MORE than $50 a month on gas since it's a 5 speed 4 cylinder. Probably more like $75 a month saved.

I know the insurance would probably be lower or about the same since this car has the same safety features as the van. We have USAA, so it's not much at all.

I think we should be able to get a loan from USAA for the car too. We'll see.

How loaded is loaded? Taking an I4 SEL and checking every box, I get $23,625 list and $1000 off to everyone. I see no superfluous equipment to eliminate.

I actually got a Milan loaded up for $35 less... and I prefer the Milan ambience over the Fusion.

I can't get a Mazda6 close (about $26,000 with aftermarket leather) is the best I could do. You can't get 4-cylinder Grand Touring or Grand Sport models with a manual. Otherwise, a 6i Grand Touring would be in the range.

I was thinking the 5-door would help mitigate the missing the cargo space aspect.

I'm still of the belief that keeping what you have is the best long term financial decision. If you have $6000, and feel you MUST cut gas expenses, you could buy an small, inexpensive used car for daily driving with far better economy and pay off the minivan on schedule. This would mitigate doubling the initial depreciation hit as well.

The above was just window shopping, as us Divas like to do, and car nut info. It is not a finacially sound recommendation.

$75 a month x 12 months = $900 a year. So it would 6.66 years to equal the $6000 they want down.

$530 x 72 months = $38,160 total paid for car over 6 years

You are getting absolutey 100% bent-over and shafted. Run away from that deal as fast as you can.

Who cares if it's "only" $10/month more and you'll save a few bucks a month on gas, you're putting six thousand dollars down. That's $100/month right there. So it's not $10/month, it's $110/month more. They just hid the other $100 in a 'down payment'. Even with the gas savings you're looking at more than $50/month more, and you just started your note over, so all the money you paid on the van is moot.

Think about this very simply. You pay $530 for 72 months. That's $38,160. Plus the $6,000 you put down. That's $44,160 for a friggin' 4-Cylinder Ford Fusion. Frankly that's just stupid. You can buy a loaded 3-Series BMW for that.

yeah, that's exactly why I am going to check out another Ford dealer tomorrow.