Wednesday, October 19, 2011

Trade In Value of a Ford F150

I have a 2001 Ford F150 with about 175,000 miles.  It has never had any major damage and runs pretty well.  But it is getting close to its last legs, if it's not already on them.  Plus I have a second child on the way, and since the truck is just a regular cab, I'm going to have to get rid of it and get a car.

I rather enjoy going the last several years without a car payment so the thought of purchasing a new car doesn't exactly appeal to me.  However, since my truck does not get great gas mileage - 16 or 17 mpg - there are ways that I can get a new car and save money each month.  If I could find a way to get a car for less than $10,000, but double up on the gas mileage, I can actually spend less money per month, PLUS have a car that is under warranty.

Someone at work told me about the Ford Fiesta.  I don't know much about them, but after taking a look at them, a Ford Fiesta might be what I'm looking for.  They start around $13,000 for a standard, so if I could get a good trade in value for my pickup I might get under the $10,000 mark.  The Kelley Blue Book trade in value for my truck is about $1,500-$2,000, but I have heard that I could maybe get $3,000 for it. 

Has anyone had any experiences, good or bad, with the Ford Fiesta?  What do you think the trade in value for a Ford F150 like mine could get?  Do you think Kelley Blue Book is off or just about right?

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