Good time to buy a new Truck?
- Thread starter Baxter
- Start date
Is this a vehicle you plan on keeping for 10 years? If not, then no, and here's why:
Vehicles depreciate from wholesale, not retail. So if you take a $35k truck with $3k worth of mark up, 1k worth of holdback, and 5k worth of rebate, you have a whole sale value of about $26k. Take 35% of that figure, $9k, subtract it from the $26k, and you have a truck that is now worth $17k with 10 mi on it once it's titled, and will depreciate another 30% the next year to $12k. So in 2 years, the vehicle you paid $26k plus taxes and titling fees (that looked like a great deal at the time) is now worth about $12k in perfect condition with low miles. If you financed the whole portion of it, you probably owe about $21k at this point (give or take a couple grand depending on APR).
Oh, and if you think you're in a better position by choosing the 0%, you'd be mistaken. Because instead of buying that $35k truck for $26k, you're losing $5k worth of rebate, but the value of the truck doesn't change, just your pay off....and it will be considerably higher.
Now, again, if you know for fact that this is going to be a 10 year truck, then go for it. Otherwise, take a pass.
Vehicles depreciate from wholesale, not retail. So if you take a $35k truck with $3k worth of mark up, 1k worth of holdback, and 5k worth of rebate, you have a whole sale value of about $26k. Take 35% of that figure, $9k, subtract it from the $26k, and you have a truck that is now worth $17k with 10 mi on it once it's titled, and will depreciate another 30% the next year to $12k. So in 2 years, the vehicle you paid $26k plus taxes and titling fees (that looked like a great deal at the time) is now worth about $12k in perfect condition with low miles. If you financed the whole portion of it, you probably owe about $21k at this point (give or take a couple grand depending on APR).
Oh, and if you think you're in a better position by choosing the 0%, you'd be mistaken. Because instead of buying that $35k truck for $26k, you're losing $5k worth of rebate, but the value of the truck doesn't change, just your pay off....and it will be considerably higher.
Now, again, if you know for fact that this is going to be a 10 year truck, then go for it. Otherwise, take a pass.
Ford always has massive discounts. I bought my last Supercrew in 2004 about 11k under the sticker price which came out to a little over $20k for an XLT. I believe you can buy a new XLT Supercrew in the 18s if you look around, especially since the 09 is a new model for the F150. Wait till the 09s come on the lots and they're trying to get rid of the 08s, maybe late november and you can get a steal.
G
gardere_owns_OU
Guest
just got a 4 door 08 GMC Sierra 1500... great price, great truck and great bit truck nutz
William Cannon
250+ Posts
Goo, what about your G35?
Regarding the OP's question, yes it is a good time to guy a truck. I heard a Covert Ford ad for an 08 F150 XLT Screw with the chrome package for $18k.
Regarding the OP's question, yes it is a good time to guy a truck. I heard a Covert Ford ad for an 08 F150 XLT Screw with the chrome package for $18k.
look into used. I almost bought a used '07 Dodge Quad Cab with a V-6 engine for just under $12k(16k miles). Strange, the used car dealer messed up by not checking out the code that was showing. It might have been serious, or just the fact that the truck was a repo and needed a new key.
But, the dealer took the truck to a Chrysler dealer and they were taking too long, so I backed out. The funny thing is after the repair, the dealer then marked up the truck $1000 to list it at just under $13k. Assuming it was fixed properly I think it was still a steal. It drove perfectly.
But, the dealer took the truck to a Chrysler dealer and they were taking too long, so I backed out. The funny thing is after the repair, the dealer then marked up the truck $1000 to list it at just under $13k. Assuming it was fixed properly I think it was still a steal. It drove perfectly.
Pepper Brooks
250+ Posts
I would say that fact is right now is not a good time to be bying any big ticket item even if you have cash. I don't want to turn this into some political BS thread, but face it things are about to tighten up considerably with the coming tax increases on business and probably most individuals. I would wait and see what comes out of all of this. Once we know for sure who is getting hit, how hard, etc then you might be able to plan accordingly. Right now IMO I would sit it out and see where things stand about next March or so.
RockyBalboa
500+ Posts
Wow. My brother in law just bought an 03 F250 diesel for $12,500.
okay, I'm confused. you're talking about spending 12-13k on a big diesel truck that is five to six years old. So, you can spend $1 more for a gallon of fuel? For what purpose?
Huh? what makes a diesel worth $1 more per gallon?
I just looked at the autotrader, and sure enough, the deal I was looking at a couple of months ago was a steal. There is a comparable one, 2007 V-8, Dodge quad cab, 15,000 miles, sales price just under $13,000.
Granted it's a Dodge, but you can do a whole bunch of work for the price difference. Or you could drink a whole bunch of beer for the difference. Why would you ever spend more?
Huh? what makes a diesel worth $1 more per gallon?
I just looked at the autotrader, and sure enough, the deal I was looking at a couple of months ago was a steal. There is a comparable one, 2007 V-8, Dodge quad cab, 15,000 miles, sales price just under $13,000.
Granted it's a Dodge, but you can do a whole bunch of work for the price difference. Or you could drink a whole bunch of beer for the difference. Why would you ever spend more?
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