POS Ranger, Upside down loan! suggestions?

[UNTCHBL]

So the trannie in my ranger started going spastic a couple days ago. Truck hesitates to shift to o/d, and then really doesn't want to shift down at all either. Clunks and stutters then finally bangs into gear.

This will be the second time in the last 2 months that it has went in for trannie problems. The truck is just outside of warranty too. And remember I've only owned the damn thing for about 5 months now.

Should I just bite the bullett and have it fixed again?

Trade the thing in and take a loss?

Anyways to work around being upside down at all?


Brandon

[Goliath5.0]

Brandon,

I don't remember, did you buy this truck as a new vehicle or as a used? If you bought it new, check your lemon law rights. I exercised my lemon law rights once on new vehicle that had a crap load of errors, ended up having the dealer refund my money.

Weigh your options out, you could bite the bullet and have it repaired if it doesn't cost TOO much to repair it, THEN resell it. Take into consideration that if you sell it the truck as is in its current state, you are leaving the door open to have someone try to haggle you down on price because of its flaws. Whereas if you make a minor investment to make the vehicle sound, you will more than likely make the money back, break even, or take a small loss versus a big loss if the buyer doesn't want to pay close to what you are asking for on account of the tranny flaws.

OR... if you sell it as is try to get as much as you can... ask a ridiculous price and then when the haggling begins have in mind what you will settle for and if it lands within a 100-500 dollar envelope positive or negative, just take it and get the HEADACHE out of your hands.

I know that being in negative equity with a car loan SUX balls. I wish I still had my dealers license so we could run it through the auction, and see what kind of cash it would bring in. Lately I have been told by friends still in the business that AS USUAL dealers that don't know the game are still overbidding and paying too much for cars at the auction.


Help this helps,

Chris

[UNTCHBL]

Chris, the funny thing is, the problems are not obvious. I may just try to trade it in, and take a hit on the value of the vehicle I'm buying. Will see. I really don't want to shell out 400 more bucks for what appears to be a short lived trannie.

Brandon

[regattacoupe]

i don't bat an eye about trading in a vehicle i know is screwed. they budget for it LOL...go for it i would

[UNTCHBL]

but I'm upside down brent, not sure how much though. Will see what happens.

[regattacoupe]

whats upside down? oweing more than it's worth?

[UNTCHBL]

yep! negative equity

[Goliath5.0]

Wait till the end of the month, dealers usually are hurting to move units to avoid floorplan fees, interest, etc... you might luck out and get a good deal.

[UNTCHBL]

hmmmm, probably a good idea. Also being the end of the first month of the year might not hurt.

Brandon

[UNTCHBL]

so then I have about 3 or 4 choices. f150, older powerstroke 99 maybe, 2500 series diesel dodge?, 2nd gen L. I just need to keep the payments as close to 350 as possible.

Brandon

[Goliath5.0]

Get a Gen 2 Lightning :D GET a 2001+ model. 2001+ models have a lot of bugs worked out from the 99/00 platforms as well as other upgrades and let us not forget to mention a few more ponies for the 2001+ models!

Many 99's had intercooler leak issues. Unless the recall service work was done to it, you might pick up a 1k+ price tag to have the inferior 9 row intercooler replaced with the upgraded 10 row.

I should have a nice Gen 2 soon. Hopefully with a works 112 s/c'er.

-Chris

[UNTCHBL]

sweet, it all depends on $$$$$$$$$$$$$$$$$$$$$$$$$$$

Brandon

[5150 LX]

Brandon, it really depends on how upside down you are. If you are too far then all you do is further perpetuate the vicious cycle. No matter how you look at you will lose money on a vehicle.

Best bet is to always sell the vehicle to a private party if you can, when you trade you lose you butt no way around it. Second option is to have cash available to pick-up the difference so that you are not piling more debt onto a loan for a new(er) vehicle which won't be worth what ya paid as soon as you sign. You know if your 2k upside down, then have 2k available to lay down on the note.

[UNTCHBL]

Hmmm, My first point of leverage is to call the dealership tomorrow, and see if there is some sort of warranty for the repairs they have already made. My next step is to make a phone call to the insurance agent to see if could have possibly been caused by being rear ended on thanksgiving. Just my first two ideas. Will see where else it leads.

brandon

[5150 LX]

I would not mention to the ins. agent that you had tranny probs before, unless he/she directly asks. The dealer may be the best bet, if they had fixed it right the 1st time it should not be giving you problems so soon.