Downsizing, sort of?

pressure_welder wrote:
Joys of buying a truck in Canada, 94,000 msrp, and paid 84,000 out the door. Once upon a time in 2012 when I bought my Denali dually brand new I was able to put down 25,000$ and I have been riding that down payment for the last 2 trucks now. Already spoke with family member who owns a dealership. Said it’s canadian blue book value is 64,000, and said he could get 58,000 for it all day. I owe 42,000 so that puts me in around 15,000 equity in the truck. Have 4 years left to pay on it.

Unbelievably enough 2010 to 2013s are going for an absolutely insane price of between 40-50,000. Don’t worry guys iam quite aware about going back in technology and comfort, I don’t LOVE the idea but like I say getting hard to justify this 2015 for 500 km a year of actual heavy towing

I see it as the damage has already been done. You have already made the payments nothing you can do now will recoup that money.
Creating a new transaction will only cost you more money vs. riding out your 2015. Yes the 2009-2010 will be cheaper monthly but you are walking away from the money you have put into your 2015.
Compare what you get as so called equity vs. what you actually spent.
That figure will be a loss.
Rough Math:
48 * 850 = 40,800 payments made -15,000 amount cleared by trading = 25,800 loss by trading it
I'm just not seeing the savings?
Keep it and drive it a few years with Zero Payment!