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View Full Version : TRUCKS - Help with decision


meets1
08-13-2007, 09:20 PM
I have 5 chevy's. Newest is an 2006 4 door LT 2500HD with everything, 6.0 engine. My truck, only has 16K on it and I usually trade "my" truck every 2 - 3 years.

Next 2 trucks are 2003 - Chevy and GMC 2500HD reg. cab - each having 78 - 80K on them.

Next truck is 97 GMC with 125K, ext cab 2500 with Alum dump box

Next truck is a 91 Chevy with 126K, reg cab, 1500 with a dump bed on it.

I use my GM card alot and I need to start redeeming points/money.

All these trucks but "my personal" truck all have plows on them as well for snow.

If I was to trade "my" truck - I would get a new 08 chevy/GMC 4 door LT 6.0 engine and leather. If I was to trade another work truck - i would get a plow prep pgk and 2500HD reg cab and think about a dump insert and maybe gas/diesel. The 2 03 trucks also have 5th wheel hook up which I do use as well. Work trucks to me - biz plan has them running to 100 - 125K.

Money wise & your thoughts what truck would you suggest I trade and why?

I like keeping things up but on the same token - the older trucks really owe me nothing and beside a battery or a light or fuses - I haven't had any trouble. All trucks are pd for. Thing is get a new work truck - change over the plow or sell with plow and get new??

Thanks for the input!

meets1
08-13-2007, 11:17 PM
Alright guys - were in the biz forum and 17 looks but no replies?

grassmanak
08-13-2007, 11:46 PM
id trade the newest one, its always to nice to have a good persoanl truck

TWUllc
08-14-2007, 12:17 AM
I'd keep them all if possible. And only buy another vehicle once necessary.

meets1
08-14-2007, 10:55 PM
why did this thread get moved? Isn't this the biz forum to help make a $ decision - steer the company? best value for a truck, the most bang for the buck, options to play with for which truck makes most sense to trade?

KrayzKajun
08-14-2007, 10:59 PM
id trade the newest one, its always to nice to have a good persoanl truck


I agree! You work hard for your money. Enjoy it

Mow Mony
08-15-2007, 02:03 AM
A brand new truck will depreciate quickly, so unless you are unhappy with your 06 I would keep it. I would upgrade whichever truck is most important/used most often in your actual day to day business duties as it is the one making you the most money. I am all for having a nice new truck, but that 06 can't be too bad.

ATL Lawn
08-15-2007, 04:14 PM
sell the truck yourself locally, and just buy the new one using your GM card, and normal purchase. see if any 07s with huge rebates are available

morturf
08-15-2007, 10:34 PM
If you sell the truck yourself don't forget that you have to take a capital gain and pay the sales tax difference if you don't make it a dealer trade. Depending on your tax bracket you have to get up to 40% more for your truck just to break even with the tax man. And don't think the dealers don't know it!!!! I always find a buyer for my trucks and then do a "dealer trade". Make the dealer process the paperwork to sell me a new truck or I buy it elsewhere. Good luck on your decision.

Petr51488
08-16-2007, 01:09 AM
I know you just like the look of the new gmc's! I know i do, and its making me crazzy... just a few more months till i get mine!

lawn king
08-16-2007, 07:27 AM
Buy a big truck. You will be amazed how much more work & how much faster it gets done! Im talking 14500 -19500 gvw. diesel powered.

meets1
08-16-2007, 06:21 PM
The bigness may be nice but most accounts are for the guys running the mowing crews. Easy truck w/ trailer and no worries about legal limits, in / out of places with bigger truck especially with guys that have no expereince with a bigger truck.

I realize I may get some grieve here but I do own a ford dump truck with a 5 speed and I beleive I just need my chaffer(spelling) lic. for that truck. I do haul away a skid, tractor other attachments from time to time with that truck as well.

ksss
08-16-2007, 10:00 PM
You would only pay Capital gains tax if you sold the truck for more than you paid for it. You would then be charged Capital gains on the amount made over the amount it was purchased for.

Personally I would keep yourself in a newer rig. It looks good when bidding and it is your gig you should keep your a$$ wrapped in new leather. You deserve it. I keep mine about 5 years then trade them. The Duramax trucks hold their value very well.

meets1
08-16-2007, 11:15 PM
Heres a new thought - trade-in or sell the 91 chevy and replace it with an 07 GMC new stsyle 0r even the classic 07 if I can find a new one out there. Get a plow prep pgk, and standard work truck. Debatable where or not to get D-max of 6.0 and keep this truck for an estimated 100K.

Then do I get it with a box or just chassis? Or I could by one of those insert dumps that are able to go in and out as needed.

Thinking this way in my area right now I am able to get an 07 new style - for 0 down, 0 % fin. for 60 months. Not a bad way to go although I would have monthly payments.

I would keep my 06 and then trade that next year for an 09 considering I only have 16K on the truck now and one more year isn't going to hurt me as far as milage goes.

Any thoughts on this?

Scag48
08-17-2007, 03:19 PM
That's what I'd do, drop the '91 for something newer and rotate some of the fleet. In a couple years, buy yourself a new truck, then trade out another fleet truck.

morturf
08-18-2007, 01:08 AM
You would only pay Capital gains tax if you sold the truck for more than you paid for it. You would then be charged Capital gains on the amount made over the amount it was purchased for.

Personally I would keep yourself in a newer rig. It looks good when bidding and it is your gig you should keep your a$$ wrapped in new leather. You deserve it. I keep mine about 5 years then trade them. The Duramax trucks hold their value very well.


I am sorry but you are wrong. If you depreciate your truck as a business should and you get more for it then it is listed on your depreciation schedule you will owe a gain on the sale...have a look at this form and it instructions
http://www.irs.gov/pub/irs-pdf/f4797.pdf
http://www.irs.gov/pub/irs-pdf/i4797.pdf

This is a real matter that an accountant will not let you slide on. This is why I have one.

good luck