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Schrock Lawns · #1 01-14-2013, 02:44 PM

So I'm at a Delima I need a bigger truck I was lookig at a new one a 2013 Chevy 3500 duramax for 30k with tradein or their was a few used truck I was looking at in the 5-12 k range with 100k+ miles what I'm asking is should I finance the new truck at 0%for 60 months or should I just go the used truck way and pay cash and not have the reliability of a new truck
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hi_speedreed · #2 01-14-2013, 03:12 PM

I buy new. It is just a personal preference. I like the idea that nobody has ever driven that truck but me. I realize I am paying for that.

With the economy in the state it is in, trucks are not losing their value like they once were, but your dollar is. Financing at 0% is a great tool because you are locking in the value of your dollar.

I only like financing when you can get 0% otherwise I would pay cash. I would definitely buy new now over used because people are not trading in trucks with 20k miles and when dealers get them they are not selling them at a big discount when compared to new. Also, used do not qualify for 0%, so when you add in the interest you must pay on a used truck, you are better off buying new. Around here, trucks with 100kmi are still in the 18k-25k price range.

Now if you are willing, I have heard that in areas out west you can find great deals on lightly used trucks. I know a guy here in WV that flew to Idaho to buy his truck and drove it back here. Even with the added travel expense he saved thousands over what dealers here were charging for comparable trucks.

lawnprosteveo · #3 01-14-2013, 03:16 PM

I dont like debt, but I bought my F250 new in '03. I got it with the intention of keeping it as long as possible. It now has 150K on it and has been trouble free. So I would say buy new if you can and keep it as long as you can once its paid for.

hi_speedreed · #4 01-14-2013, 03:30 PM

Quote:

Originally Posted by lawnprosteveo

I dont like debt, but I bought my F250 new in '03. I got it with the intention of keeping it as long as possible. It now has 150K on it and has been trouble free. So I would say buy new if you can and keep it as long as you can once its paid for.

I second this opinion. When I bought my new truck in 2011, I meant to keep it until it fell apart. I am not a fan of irresponsible debt. People who take on debt they knew they couldn't afford are very irresponsible. You shouldn't buy something knowing you are going to have to only eat ramen noodles every night until you get it paid off. It is not sustainable. It is just like losing weight. You can't say, I am never going to eat unhealthy food again because it is not sustainable. You have family get togethers, birthday parties, anniversaries...Life happens and you have to learn to roll with it if you want success in anything you do. Don't paint yourself into a corner.

KeystoneLawn&Landscaping · #5 01-14-2013, 05:13 PM

Find a good used truck with 50-60k on it, put the cash down on that one and have a very quick payoff. I'm a big fan of buying used, let someone else take the hit on the sticker! My last truck was used by a homeowner to pull a camper. The truck looked new but didn't cost like it.

larryinalabama · #6 01-14-2013, 05:22 PM

I alaways figured a 5to10K truck cuts grass just as good as a 30to50k truck.

Richard Martin · #7 01-14-2013, 05:25 PM

I'm in the process of buying a 2007 Chevy with 59k miles. It will replace my 1995 F150 that also had 59k miles on it when I bought it back in 1999. I'm paying the same price, but at a significantly lower interest rate for the Chevy. The interest rate is so low that I don't know why they even bother but whatever.

hi_speedreed · #8 01-14-2013, 05:34 PM

Quote:

Originally Posted by KeystoneLawn&Landscaping

Find a good used truck with 50-60k on it, put the cash down on that one and have a very quick payoff. I'm a big fan of buying used, let someone else take the hit on the sticker! My last truck was used by a homeowner to pull a camper. The truck looked new but didn't cost like it.

That sounds great but where are those trucks? I am not arguing with you. You were right a few years ago and you would still be right if you could find that deal today. I know they are out there but they are getting so hard to find. The hit on the sticker is disappearing until you get to a truck that is so beat up I would be scared to rely on it for my business.

Here is a link to the value of my truck if I was to go to a lot and find it as it sits now. If you don't want click the link the expected retail for my truck used right now is 39,650! That is more than I paid for it two years ago.

http://www.nadaguides.com/Cars/2011/...ted-4WD/Values

And here is a link to my truck if it had 50k miles and that is still more than I paid for it new.

http://www.kbb.com/toyota/tundra-dou...&pricetype=cpo

Yes, it would be great to buy used if you could find a decent truck at a decent price but I am just not seeing it. I used to only buy used. My first 3 trucks were used.

Also, besides being cheaper, new qualifies for 0% while used does not. The math just does not make sense now for buying used. Guys are keeping their trucks for 100k+ miles and only trading them in when they start being a headache. I for one do not want to inherit a headache.