Trading 19 Ram1500 for 20 gladiator!!

[Joker4L]

Members, I appreciate you trying to look out for my finances but that isn’t what I was asking for. I’m in a good place and not looking at becoming a millionaire or being extremely wealthy.

I’ve come to terms with never making money off of vehicles. Doing this deal is solely for switching my vehicle because my interest in the gladiator is very high. I know it won’t be the same as my full size truck but the gladiator will have its own advantages and disadvantages.

I still haven’t decided if I’m doing the trade as I stated originally I do love my truck

We shall see what I end up doing.....

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[Carlton]

Personally I tend to swap out vehicles 1-2 times a year. If you want to do it, go for it. I would suggest another trim level other than the Launch Edition however. Save yourself 10k+.

 

[Joker4L]

Personally I tend to swap out vehicles 1-2 times a year. If you want to do it, go for it. I would suggest another trim level other than the Launch Edition however. Save yourself 10k+.

I looked at the overland but the rubicon just has a lot of the things I like and want. Inventory is so scarce here in middle Ga too :/

 

[Thill444]

I think you should read “Total Money Makeover” by Dave Ramsey. Because if you’re not a millionaire you can’t afford this maneuver.

I like Dave Ramsey but the rational that people need to be millionaires to buy $40-50K vehicles is pretty over the top. Debt to income ratio is the key and many people can afford $40-50K vehicles that are not millionaires if they budget accordingly. Every situation is different and every state has different taxes.

According to KBB the average transaction cost on a new car is almost $38K in 2019. People always complain about how much Jeep's cost now but the reality is that all new vehicles cost a lot now. Dave Ramsey would say "buy used" but the Jeep's hold their value so well if you can get a heavily discounted new one you are probably very close to used prices.

 

[GreyFox]

Members, I appreciate you trying to look out for my finances but that isn’t what I was asking for. I’m in a good place and not looking at becoming a millionaire or being extremely wealthy.

I’ve come to terms with never making money off of vehicles. Doing this deal is solely for switching my vehicle because my interest in the gladiator is very high. I know it won’t be the same as my full size truck but the gladiator will have its own advantages and disadvantages.

I still haven’t decided if I’m doing the trade as I stated originally I do love my truck

We shall see what I end up doing.....

The Gladiator will be better for your soul. You'll be smiling more

 

[FitBliss]

They have that exact model/trim color at my dealer, great choice!!!

 

[Stormin’ Moorman]

I like Dave Ramsey but the rational that people need to be millionaires to buy $40-50K vehicles is pretty over the top. Debt to income ratio is the key and many people can afford $40-50K vehicles that are not millionaires if they budget accordingly. Every situation is different and every state has different taxes.

According to KBB the average transaction cost on a new car is almost $38K in 2019. People always complain about how much Jeep's cost now but the reality is that all new vehicles cost a lot now. Dave Ramsey would say "buy used" but the Jeep's hold their value so well if you can get a heavily discounted new one you are probably very close to used prices.

I wasn't specifically referring to the new/used thing, but income can change overnight and debt cannot.

He bought a Ram 1500 new and now he's trading it in. There's no telling how under water he is, but i bet a lot. And even if he's not upside down on the payment/value side of the equation, he got there by forking out a very large down payment. That's gone. Now he's going to compound that by buying another new vehicle. When he drives that off the lot, he'll be so upside down that he'll probably pay an additional; 2-3 years of notes to cover the loss. He's in the military, so unless he has a trust fund he didn't tell us about or his wife is a doctor...he can't afford this maneuver. And he's choosing to trade it in instead of trying to sell it and getting a lot more for it, because he's either lazy or impatient. I'm not intending to be mean, but these are truths the OP should come to grips with.

And i quote, "What are y’all opinion on this maneuver". There, you have it.

 

[jaldeborgh]

I wasn't specifically referring to the new/used thing, but income can change overnight and debt cannot.

He bought a Ram 1500 new and now he's trading it in. There's no telling how under water he is, but i bet a lot. And even if he's not upside down on the payment/value side of the equation, he got there by forking out a very large down payment. That's gone. Now he's going to compound that by buying another new vehicle. When he drives that off the lot, he'll be so upside down that he'll probably pay an additional; 2-3 years of notes to cover the loss. He's in the military, so unless he has a trust fund he didn't tell us about or his wife is a doctor...he can't afford this maneuver. And he's choosing to trade it in instead of trying to sell it and getting a lot more for it, because he's either lazy or impatient. I'm not intending to be mean, but these are truths the OP should come to grips with.

And i quote, "What are y’all opinion on this maneuver". There, you have it.

Tough love. I was in my early 60’s before I started buying new vehicles. My kids College education was paid for (no loans) and my retirement fund in good shape. Being disciplined and frugal are not bad things. I live by the motto: Discipline = Freedom.

 

[spurly]

I have sort of a love hate with the gladiators. Stock, I think they are meh. I think they really start to shine with 35s or 37s. Even the Rubicons don't look quite right with 33s.

 

[Thill444]

I wasn't specifically referring to the new/used thing, but income can change overnight and debt cannot.

He bought a Ram 1500 new and now he's trading it in. There's no telling how under water he is, but i bet a lot. And even if he's not upside down on the payment/value side of the equation, he got there by forking out a very large down payment. That's gone. Now he's going to compound that by buying another new vehicle. When he drives that off the lot, he'll be so upside down that he'll probably pay an additional; 2-3 years of notes to cover the loss. He's in the military, so unless he has a trust fund he didn't tell us about or his wife is a doctor...he can't afford this maneuver. And he's choosing to trade it in instead of trying to sell it and getting a lot more for it, because he's either lazy or impatient. I'm not intending to be mean, but these are truths the OP should come to grips with.

And i quote, "What are y’all opinion on this maneuver". There, you have it.

Too many unknowns. How much he put down on the RAM. What the dealer is giving him for trade in. How much he's putting down on the Wrangler. Don't know his income. Maybe he has inheritance money or has lots of cash from other revenue streams or investments.

Only he knows, I do agree that you should never go add negative equity to another new car purchase. That's just dumb. A $46K Gladiator with $5-10K+ of negativity equity without enough money down means you need GAP insurance, etc. I never advocate that, but the OP really did not want to get into the devil of the details so we don't really know and are just assuming.

 

[Thill444]

I have sort of a love hate with the gladiators. Stock, I think they are meh. I think they really start to shine with 35s or 37s. Even the Rubicons don't look quite right with 33s.

100% agree. 37's for me are the sweet spot, 35's look better. Stock tires look way too small.

 

[Sean L]

He's in the military, so unless he has a trust fund he didn't tell us about or his wife is a doctor...he can't afford this maneuver.

That's quite a broad statement. The military pays a decent salary, depending on rank. Obviously a private straight out of boot camp wouldn't be able to pull off a new Wrangler and a Gladiator but a few years down the road and the pay is much better and new cars are not outside the realm of affordability.

 

[mikegcny]

I have sort of a love hate with the gladiators. Stock, I think they are meh. I think they really start to shine with 35s or 37s. Even the Rubicons don't look quite right with 33s.

Yeah, with that long of a wheelbase you really need larger tires and a lift to get the proportions 'right'. But then again I have never had a 4 door Wrangler and hated the way they looked when I first saw one. It took me a long time to get used to the look of a 4 door.

 

[Stormin’ Moorman]

That's quite a broad statement. They military pays a decent salary, depending on rank. Obviously a private straight out of boot camp wouldn't be able to pull off a new Wrangler and a Gladiator but a few years down the road and the pay is much better and new cars are not outside the realm of affordability.

You're right, on my street i live by 3 Col. and a 2-star General. Their retirement's are all 6 figures. This guy is young though.

 

[mikegcny]

And i quote, "What are y’all opinion on this maneuver". There, you have it.

So from a finance perspective - its a real shit maneuver. I am not saying OP cannot 'afford' it, its just going to cost him.

Lifestyle wise though, as long as you are not a farmer or tradesman or need to haul/tow > 7k, I think the Gladiator is much better than a Ram.

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