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Unread 06-18-2008, 12:03 AM   #1
roddy1
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Hi looking for info on buying a new patriot (trading financed vehicle)??

Hi everyone.

A few months back i found myself in a pinch without a vehicle and bought a brand new 08' Mazda B4000 4x4 Truck. Its my first new vehicle, and unfortunatly i rushed into the deal, which i realize now.. wasnt in my best interest. The truck delivers poor gas mileage (15-16mpg on the highway driving it lightly) despite being rated by mazda and the canadian government at 25mpg highway. On top of this both dealerships have given very poor service, and i just plain out want to get out of this truck.

Im curious what is going to be involved? The truck is financed. Does anyone know the technicalities involved here?

How do i go about getting the best deal without loosing my shirt?

I paid about $23,900cdn for my truck, and the patriot that i want its about $21,900......

My truck is 3 months old with 5,000kms...

I'd love to hear some feedback!

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Unread 06-18-2008, 06:07 AM   #2
--chris--
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You are looking at two options:

1) You are going to have to finance the remaining balance of the B-truck along with the full amount of the patriot. Whats that come out to? About $42000? Thats what....$600-800 a month depending on your terms?

2) Keep the truck and find out why you are getting 35% less mpg than it should be getting. Is it a 4 cyl? Aren't those basically Ford rangers? I know first hand that a 4 cyl ranger gets around 30 mpg highway, so i would really look into either finding a dealership that will treat you right or a factory service manual so you can repair it your self. Also, most vehicles are not fully broken in at only 5000km's....you probably have another 15K to go, then you will usually see a up tick in mpg's.
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Unread 06-18-2008, 10:48 AM   #3
Bigbob
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I don't know how things in Canada are, but here trucks are lousy for trade in right now. But being you have a smaller truck the trade in may be better. You talk about what you paid for the truck, but not what you owe. Once they leave the showroom floor new vehicles depreciate really quickly. There is a possibility you can get upwards of 17-18K trade in for you truck. Look on www.kbb.com to see what it is worth. Any amount you still owe on the truck above what the trade in value is can be added to your new car loan. So say you still owe 21,000 on the truck, they give you 18,000 trade in on it, you still owe 3,000. So if you get the Patriot @ 22,000 you will be making payments on 25,000 or there-a-bouts. Your payments won't be a huge amount more than what they were on the pick-up. You will get better mileage for sure. And, if it's available in Canada, you will get the $2.99 a gallon gas deal. So you may be money ahead. It all depends on how much they will allow you for the trade in. Take the truck to them and have them appraise the value.


EDIT The value on your truck runs somewhere between 17-22K depending on how it's equipted and how you get rid of it. If you feel confidant in qualifing for a new loan on the Patriot you could list the Mazda to someone who can just take it over/assume the loan. You could try to sell it on the open market. The dealer will always give you the worse deal. If someone just assumes the loan you don't need to add the upsidedowness of your loan to the new car.
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Unread 06-18-2008, 08:03 PM   #4
roddy1
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Quote:
Originally Posted by cheap5.0 View Post
You are looking at two options:

1) You are going to have to finance the remaining balance of the B-truck along with the full amount of the patriot. Whats that come out to? About $42000? Thats what....$600-800 a month depending on your terms?

2) Keep the truck and find out why you are getting 35% less mpg than it should be getting. Is it a 4 cyl? Aren't those basically Ford rangers? I know first hand that a 4 cyl ranger gets around 30 mpg highway, so i would really look into either finding a dealership that will treat you right or a factory service manual so you can repair it your self. Also, most vehicles are not fully broken in at only 5000km's....you probably have another 15K to go, then you will usually see a up tick in mpg's.
OUCH! i take it your from the mis-informed group?

LOL, anyway.. the way it works, is that jeep (the dealership) will buy out the loan on my vehicle, and then tack the remaining amount or difference onto the loan that i take out with them on the patriot.

Im just curious what some bargaining strategies are here. I think it would be best before i even get started to have them appraise my my truck, and if its reasonable, then take it from there. I would like to see atleast $19-20K for the truck, i owe $20k or so on the loan.

From there i'd likely just pay the difference between my B-truck and the patriot with cash.

^^^^ but in reality... i dont want there to be a cash difference , i'd like it to be as close to a straight accross trade as possible.
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Unread 06-18-2008, 08:10 PM   #5
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Maybe some of our Canadian members can chime in with prices on recent purchases? That sounds like a good starting point.
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Unread 06-18-2008, 09:44 PM   #6
Bigbob
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Quote:
Originally Posted by roddy1 View Post


I would like to see atleast $19-20K for the truck, i owe $20k or so on the loan.



^^^^ but in reality... i dont want there to be a cash difference , i'd like it to be as close to a straight accross trade as possible.
Good luck with that. I doubt any dealers will do you that good. But, you never know. If the dealer does you no good on the deal with the difference you may want to look at selling it yourself. But that is tuff now. I put my '02 Dodge Ram quad cab up for sale in January. This truck only has 44,000 miles on it. Fully loaded very clean truck. The high bluebook on it in January was about 15.8K. Today it's 12.5K and the best firm offer I have had is $4,800.00! LOL With high gas prices nobody wants a used rig unless it gets 35MPG I guess.
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Unread 06-18-2008, 11:24 PM   #7
roddy1
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^^ ya i dont expect an actual straight accross trade.... the most i would pay is a $2000 cash difference. Im taking the truck to get appraised next week, as atrade in at the jeep dealership, we'll shoot the **** from there.
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Unread 06-19-2008, 10:00 AM   #8
Bigbob
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I have been looking at the Patriot for a while now. I have never driven one, but we do have the Dodge Caliber and I know they are very similar. I went to the dealer and looked at everything they have in stock. The Patriot is one very fine vehicle IMHO. I'm 6'6" and the room in it is great. Lot's more room than my Caliber. The price is really a big point on these especially when you compare them to the GC or Commander. 1/2 the price but not 1/2 the vehicle. I would never buy one as a off road rig, in fact I would probably get a 2WD limited model. The Patriot looks like it would be hard to beat as a everyday street vehicle. Cheap price, good fuel mileage, lots of room, and what I consider good looks. The only down sides I have heard about them are, they lack power, and they have more road noise than other cars. If they offered me more trade in on my low mileage Dodge Ram I'd sell the Caliber on the open market and get a Patriot. I don't need the truck as I can pull a trailer with the rubicon if I need to go to the dump. I just don't want another big car payment right now so I would need a good trade in to make it happen.
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Unread 06-19-2008, 03:13 PM   #9
roddy1
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^^^ i just drove one today.... all i can say is i will have to go back and test drive a different model with a different salesman. I wasnt too impressed. We took out a 5speed, base model.. no AC, Vinyl seats....it was the only 5speed they had. i was pretty let down by the feel of the vehicle. Its definatly not as tight and solid feeling as some vehicles i have test driven.

Im gonna go drive a fully loaded limited with the CVT and decide from there.
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Unread 06-19-2008, 04:10 PM   #10
Bigbob
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Quote:
Originally Posted by roddy1 View Post
^^^ i just drove one today.... all i can say is i will have to go back and test drive a different model with a different salesman. I wasnt too impressed. We took out a 5speed, base model.. no AC, Vinyl seats....it was the only 5speed they had. i was pretty let down by the feel of the vehicle. Its definatly not as tight and solid feeling as some vehicles i have test driven.

Im gonna go drive a fully loaded limited with the CVT and decide from there.
Wow. My Caliber is pretty solid, no sports car by any means, but a great grocery getter. If you have never driven a CVT yet it may "weird" you out a bit. They feel like a stick shift with a slipping clutch. You will feel it when the converter locks up at about 10-15 mph, but no shifts after that. On hills with the cruise control set it is just strange as it does not shift up or down, the engine just starts to rev up and down. But, you get used to it pretty quick. I enjoy that it does not do all that annoying shifting on hills.
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Mods done: Hurst tee handle, cheap hand throttle, Rokmen Merc front bumper, Warn 9.5 TI winch with 3/8" X 100 worth of Viking yellow rope, DPG OME Ultimate with JKS ACOS up front, Kilby Gas Tank Skid, Kilby Steering Box Skid, Jeep Medic Belly Up, Skidrow Engine Skid, Rockcrusher Diff Skid in the rear, Warn Diff cover in front, , AR Outlaw II's and MTR 12:50/15's, Homemade rear Bumper, Cheap Cobra CB, Puma OBA, Sirius Radio, Locker Defeat, Rockhard cage, Rockmen short corners, homemade tire swing/tailgate hinge affair, Airlift air bags on the rear- - - - - - and more to come!
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