Any Financial Advisors

[BlessedVeteran0305]

Wondering if there are any Financial Advisors here on the Ole GS I have a question I need help answering.

I'm supposed to be getting some back pay from the VA and I have a vehicle I need to replace but I still owe a little on. Should I pay it off then trade it in or show I trade it in and use some of the money as a down payment?

[Snowflake Killa]

For a moment I thought we had a rag to riches story. I was going to say you should write a book.

[Quackerbox]

For a moment I thought we had a rag to riches story. I was going to say you should write a book.

I think a podcast would be better. Commercial breaks and all

[dirtybay]

It’s looking like we are back to getting lower values on trade ins. Are you able to do a private sale and avoid a loss on the trade in? Dealers are good at never taking a hit and will find a way to eat up your $

[Shane]

Sounds like 6 of one and half a dozen of the other.

[trophy8]

You don’t need a financial advisor on that.

Now they may have something to add about finally getting some money and spending it all on a vehicle though.

[BlessedVeteran0305]

Listen fellas I'm not looking for smart comments I've never been in this situation where I had the ability to just pay off the vehicle at will. That's why I'm asking. It has a torque converter that needs to be replaced and has 152 plus miles on it. I just need to know the best way to handle this situation.

[Txhunter3000]

You've surely read the other threads on the crappy vehicles coming out of the big 3. If this is the only problem your truck has had I would just get the truck fixed. Buying used, you'll probably end up buying someone else's problems. Buying new is for someone flush with cash and willing to deal with the crappy trucks out now in the 1/2 ton market.

[Walker]

For no other reason than the ease of the transaction id trade it in and roll over the balance to the new car.

[Rick]

Replacing a torque converter is a lot cheaper than buying a vehicle. 152K is not a lot of miles if the car has been taken care of

[mooch]

You've surely read the other threads on the crappy vehicles coming out of the big 3. If this is the only problem your truck has had I would just get the truck fixed. Buying used, you'll probably end up buying someone else's problems. Buying new is for someone flush with cash and willing to deal with the crappy trucks out now in the 1/2 ton market.

This.

If you’re absolutely set on a new truck then trade it in and put the extra money towards the new (to you) one.

[PondPopper]

Replacing a torque converter is a lot cheaper than buying a vehicle. 152K is not a lot of miles if the car has been taken care of

This^^^
More details are needed for me to have an opinion on what I would do.

[Dusty Britches]

Blessed Veteran - perhaps you should have asked for a Certified Financial Planner.

[Throwin Darts]

I don't think it matters either way.

If the interest rate is high on the current vehicle, I'd probably pay it off in case it takes you a while to find what you're looking for and get a new vehicle.

[boy wonder]

I don't think it matters either way.

If the interest rate is high on the current vehicle, I'd probably pay it off in case it takes you a while to find what you're looking for and get a new vehicle.

This is the only answer…….