No go on new car

[dogbone33]

So with all of the rebates and the family A plan through Ford we almost knocked 10k off of a new pick up. Well, couldn't get approved, at least I don't think we did. They wanted us to buy a durango that had 111,000 miles on it to help get our credit up. It was their Fresh Start program that they do. And in 15 months bring it back and get a new vehicle because our credit should be improved. The engine and tranny had a warranty on it, but still. It would have been $150 every 2 weeks. We have the chance to keep my Jeep through our CU we owe 19k and they are giving it to us for 9k (but that has 100k miles too), but it won't help us with our credit. Sooooooo, I think we will just keep the Jeep. They wanted 1100 down for the durango. They said it would just be like a rental car until our credit gets up enough so we don't get slammed with high interest on a new car. Anybody do a program like this?

[StartingOver08]

Don't do it. Your $9k jeep is a better deal. Don't be in a hurry to take on new debt - especially vehicle debt.

[relief13035]

I agree - keep the Jeep. Sounds like they are just trying to dump a used car on you. Try to be patient, the better deals will come in time.

[kenshirley]

Yep, if you want something else shop around.
There are many dealers today that will try to take advantage of any situation they can to sell anything.
And in most cases they are going to profit additionally by the higher interest rate that many of us face.
For those that don't know, if the dealers can pump even someone with good credit into a higher interest rate than their credit would otherwise normally dictate the dealer gets a percentage of the higher interest when that contract is sold.
Just the facts.

[jojo]

I would never pay $300/month for something with 111,000 miles. That's ridiculous.