Trucks are so expensive

[Black02Silverado]

This thread is the reason I still have my 2007 and bought a Maggie. Now it does everything I need and want and it's paid for. I was very very close to pulling the trigger on 14 with 6.2. Then I started reading Dave Ramsey. Not sure what he would say about the Maggie, but it's damn sure cheaper than a new one.

I listen to his radio show. I need to read his book. Some interesting people call into his show.

[Rock1500]

the worst part is that people don't care they just extend the terms of the financing and keep the payment lower... I could have done 84 or 96 months on a 14 (dealership offered) that's insane I'm actually uncomfortable with 60 but I'm just going to make the effort and pay it off quicker

 

 

Sent from my iPhone using Tapatalk

 

 

Depends. I got a loan for 72 months for 1.9%. Doesn't bother me at all. I plan to over pay each month to get my monthly payments down quickly. Once I get it down to 250 a month ill leave it at that. 1.9% is cheap in the long run compared to inflation

[diannabill]

Depends. I got a loan for 72 months for 1.9%. Doesn't bother me at all. I plan to over pay each month to get my monthly payments down quickly. Once I get it down to 250 a month ill leave it at that. 1.9% is cheap in the long run compared to inflation

Unless you've got a very unusual loan, extra principal payments only reduce the balance. They don't reduce the monthly payments. I believe you may have to refinance in order to do that.

[Likarok]

Be glad you are not in Canada. These new trucks that are loaded have a $60,000 msrp! High Country/ Denelli trucks are even more! Yeah we don't pay msrp but they are still higher priced than USA!

[Rock1500]

 

Depends. I got a loan for 72 months for 1.9%. Doesn't bother me at all. I plan to over pay each month to get my monthly payments down quickly. Once I get it down to 250 a month ill leave it at that. 1.9% is cheap in the long run compared to inflation

 

 

Unless you've got a very unusual loan, extra principal payments only reduce the balance. They don't reduce the monthly payments. I believe you may have to refinance in order to do that.

 

If that is the case then it shortens my term. Im okay with that.

[diannabill]

I'm priced out GM.

You could buy a fully loaded single cab, Z-71, auto trans, for $19,999. in mid 90's.

My income has not 2x or 3x, to keep up with the prices.

After 2002, people have lost, the "since", of what, things are worth.

You have to remember, the past prices, to determine the value, today.

My income hasn't gone up 11x (I don't believe) since 1979 when I bought my first home for $18,500 with a monthly payment of $164.

 

Income just never seems to keep up with the cost of some things! But hopefully with planning you can still afford to buy them.

Edited March 25, 2014 by diannabill

[kstruckcountry]

How can you compare a truck from mid 90's to now? No airbags or newer safety stuff, no fancy radios, 50% less efficient... They're a whole different animal now with infinity jillion airbags and XM and 8 inch nav and sensors both ends and backup cam. That's why the price is so much higher. Hold on to your cash if you don't like it. I would never buy a new vehicle myself simply because it's financially stupid even if you pay cash. Wait 3-4 years and pay half.

Edited March 25, 2014 by kstruckcountry

[Inacanyon]

The compatible truck today is stripped why compare a loaded truck from the 90s to now?

 

Sent from my SCH-I545 using Tapatalk

 

 

[music]

 

How can you compare a truck from mid 90's to now? No airbags or newer safety stuff, no fancy radios, 50% less efficient... They're a whole different animal now with infinity jillion airbags and XM and 8 inch nav and sensors both ends and backup cam. That's why the price is so much higher. Hold on to your cash if you don't like it. I would never buy a new vehicle myself simply because it's financially stupid even if you pay cash. Wait 3-4 years and pay half.

 

When new prices keep rising like they have, it pulls used values with them. My FIL bought a Dmax in 2006, and probably has only 30k miles on it. I don't think it has lost $7k of value in ~7 years. My truck isn't quite that good, but it's closer to 5% per year at this point (6 yrs and 55k miles).

 

Of course, this sort of calculation depends completely on getting a fair price to begin with. My opinion is that the GM trucks on the lots today are a bit overpriced... based solely on prices I see on similar Tundras and F150s... but I may well be wrong.

Edited March 25, 2014 by music

[kstruckcountry]

That's part of the reason I wanted a Duramax, very good resale. But that's the same reason a couldn't afford one.

 

When I was looking, many of the Fords comparable to my 2006 were ~50% less.

[KARNUT]

The problem with buying a used truck in my area in most cases is they are worked to death. Or they are beat to death. If they are diesels more so. I would have no problem buying a Tahoe used. They sell so many here good deals are to be had.

[Spurshot]

In 1999, I bought a SLE 2500 ext cab 4x4. The sticker on it was $33K

 

I just went to kbb.com and priced out a new one with the same options. $39k.

 

So, 15 years later there's about a $6k increase or 18.1% increase.

 

I went to this website http://www.usinflationcalculator.com/ and calculated from 1999 to 2014 and got 40% inflation. That says that the truck should cost $46K by straight inflation calculation.

[PMattras]

I usually buy the same work truck (regular cab, 4X4) with the same options etc.

 

1. 2002 Chevy Silverado the sticker price was just under $25,000.

 

2. 2008 Chevy Silverado the sticker price was just under $25,000 which

came with an additional $650 in options over the 2002.

 

3. 2014 Chevy Silverado the sticker price was $33,500 which came with a few

more additional items that were standard equipment.

 

Two weeks after I purchased my 2014 truck – Chevy had a price increase on the same 2014 truck with a new sticker price of $35,565.

 

I didn’t see any price increase when I purchased my 2008 for my 2002. Chevy was also going through some bad times in 2008 and I got a super trade in price on my 2002. I also got a good trade in value deal on my 2008.

 

Dealers in CT don’t have enough "good second hand" vehicles on their lot. There is a shortage of "good second hand" vehicles especially trucks.

Edited March 25, 2014 by PMattras

[Imcrazy]

the worst part is that people don't care they just extend the terms of the financing and keep the payment lower... I could have done 84 or 96 months on a 14 (dealership offered) that's insane I'm actually uncomfortable with 60 but I'm just going to make the effort and pay it off quicker Sent from my iPhone using Tapatalk

 

 

Wow 96 months that's a long time. I feel like 72 is the max that I'd be comfortable with.

 

I feel like the value ont he new trucks are a good value but, still over priced new, I'd be hard pressed to buy a new vehicle unless you get some really nice rebates and deals.

[music]

In 1999, I bought a SLE 2500 ext cab 4x4. The sticker on it was $33K

 

I just went to kbb.com and priced out a new one with the same options. $39k.

 

So, 15 years later there's about a $6k increase or 18.1% increase.

 

I went to this website http://www.usinflationcalculator.com/ and calculated from 1999 to 2014 and got 40% inflation. That says that the truck should cost $46K by straight inflation calculation.

 

What's interesting, is that a 2014 2500HD Crew 4x4 SLE w/ 6.0 is priced very similar to a '14 1500 SLE 4wd w/ 5.3 right now. I wish those 6.0HD's didn't get such bad economy. Was the kbb price on a 2014, or on the 2015. The 1500's price jumped a good bit with the new platform.

Edited March 25, 2014 by music