Hit and run diminished value?

[Tampaukfan]

Based on the level of damage and if you can afford to take the hit, Id trade it in.

 

[Harvey Singh]

I'm confused.....this would be a terrible day if you didn't have insurance, but I'm guessing you do. So why are you so distraught? If the frame had been bent or the motor damaged, it could be a resale issue. Your damage is a bunch of replacement parts and paint. If I were buying your truck, and I'm very finicky, the damage, if corrected properly, would be no big deal.

Negative equity is a lesson many learn the hard way and pay for later on. I don't get how you can no longer love the truck, once it's repaired, it's the same truck. Get it fixed and when you can, increase or double your payments each month until you get out of the negative equity issue. In the mean time enjoy the truck.

So... with trading this vehicle in, the amount of taxes I’d save towards the next vehicle recoup any negative equity I have. It’s not much negative equity. I walked into the deal with it and put 5000$ into the principal payment recently to reduce it to only a few thousand.

I got an amazing deal on the raptor, dealers were offering me a whole lot more than I paid. This would allow me to get a 2018 raptor , eliminate any outstanding negative equity and bring down my interest rate by a couple points. On top of that the accident -.-. The reason I don’t stick with a 19 and build it up is because of the high interest rate.

I had it all planned out, it was a planned downgrade to an 18 802A with less options. Long term truck.

This obviously sets the value back, so I thought I’d come to the forum and figure how much it’s reduced by ( I know no one can answer that accurately, but it would be nice to get some insight or replies from someone that’s been in a similar situation ).

thanks for the replies... may just have to keep the 19 now although I don’t want a truck with an accident.

normally I’d fix and trade in but I feel like dealers would notice and come back to sue me, and if I disclose well goodbye 10%

 

[Antho]

Why would a older year model make your interest rate lower? Is this a Canadian thing?