Can't decide. . .LT or LTZ?

[Colorblind729]

Hey guys, I've been lurking on the site for the last month or so as I am about to join the ranks next week.

 

A quick rundown of what has led me to where I am: I won a 2015 Chevrolet Silverado this summer in a fishing tournament. I had just purchased a new (to me) vehicle last year- a 2013 Nissan Frontier. She's been a great truck this past year, but with this opportunity to get into a full size which will be an upgrade from what I currently have, I decided to trade her in at a slight loss. (I'll owe $1000 on her after trade)

 

So the truck that I "won" is essentially a $38,000 down payment- this covers 100% of the cost (minus TTL) of a particular truck that was chosen on the lot, which ended up being about a $44k MSRP CC LT. Not a bad truck as is, but if I want to, I can upgrade and get what I want rather than just take what is given. The truck I have in mind is a CC LTZ with a $50k MSRP, which after rebates, TTL and my negative trade equity, will put me having to finance close to $12k, as opposed to the $4000 in TTL and neg equity I would owe on the LT. I have the cash to cover the TTL on either truck, but may end up using that for other items- tonneau, bedliner, weathertec mats, etc.

 

A big part of me likes the idea of not having a payment due each month, while another part of me doesn't want to settle. . . I like the features on the LTZ- leather, parking sensors, center console, rear sliding window, 20" wheels, running boards; it's a nice truck. In contrast, the LT is pretty standard- LT convenience package, Sport package and trailering package.

 

Put yourself in my shoes and help me decide what I should do! I plan on keeping this truck until the wheels fall off, at which time it will become my son's truck, so spending the cash now to get what I want is beginning to look a lot more appealing to me. . . it was a tough decision to try and make this afternoon at the dealership though! Had to go home and sleep on it!

[werked]

LTZ all the way....a payment on 12k will be nothing and you could have it paid for in no time!! JMO

 

Sent from my Note 4

[SouthpawHD]

Long story short, I had a '14 LT All Star package, cloth seats, but had everything else and I thought it was the cats meow. I ended up getting a '15 GMC SLT (equivalent to the LTZ) and luxury wise, it's absolutely fantastic and a huge step above the LT. Outside of the luxury items, both trucks are equal.

 

Luxury comes with a price.... And I pay a little more each month, but I really enjoy it.

[GMC-AT]

LTZ without a doubt... just read the countless posts about users purchasing a lesser truck, then going back to add options like heated seats, NAVI, etc, etc, etc. It's cheaper and better to get it right the first time from the factory.

You don't read much about buyers stating they wish they didn't have a certain option...

[MikeNH]

Not a fan of leather personally. Don't think it ages well. But given the situation you'll be able to get into an LTZ for very little money. I'd probably do it even though I don't care for leather just for the other stuff.

[Colorblind729]

Thanks, guys. As you can probably tell in the post, I was already halfway leaning towards the LTZ. . . just had to justify financing for a truck that was "won"! lol

 

 

just read the countless posts about users purchasing a lesser truck, then going back to add options like heated seats, NAVI, etc, etc, etc.

 

lol, I was doing that at the dealership as I looked at the LT and began thinking about what I wanted to add- the center console, running boards. . .

 

[Britt Lifsey]

I'm very happy with my LT but in your shoes I'd jump on the LTZ. Have you factored in covering the income tax on winning?

[raym0016]

The LT convenience package + sport package is essentially an all star package with Bose, 20" wheels and auto locking rear end. The MSRP on that truck is $47500. I know because I just got one for $36000. It had everything I needed, I didn't want leather or a console. If I did want those things, I would have looked for an LTZ and if I were in your position, I would get the most loaded LTZ on the lot or a high country.

[Britt Lifsey]

I actually prefer not having center console also...extra space gives dog a place to ride

[Willie will]

LTZ without a doubt... just read the countless posts about users purchasing a lesser truck, then going back to add options like heated seats, NAVI, etc, etc, etc. It's cheaper and better to get it right the first time from the factory.

You don't read much about buyers stating they wish they didn't have a certain option...

 

What he said!

[OmahaBen]

Hey guys, I've been lurking on the site for the last month or so as I am about to join the ranks next week.

 

A quick rundown of what has led me to where I am: I won a 2015 Chevrolet Silverado this summer in a fishing tournament. I had just purchased a new (to me) vehicle last year- a 2013 Nissan Frontier. She's been a great truck this past year, but with this opportunity to get into a full size which will be an upgrade from what I currently have, I decided to trade her in at a slight loss. (I'll owe $1000 on her after trade)

 

So the truck that I "won" is essentially a $38,000 down payment- this covers 100% of the cost (minus TTL) of a particular truck that was chosen on the lot, which ended up being about a $44k MSRP CC LT. Not a bad truck as is, but if I want to, I can upgrade and get what I want rather than just take what is given. The truck I have in mind is a CC LTZ with a $50k MSRP, which after rebates, TTL and my negative trade equity, will put me having to finance close to $12k, as opposed to the $4000 in TTL and neg equity I would owe on the LT. I have the cash to cover the TTL on either truck, but may end up using that for other items- tonneau, bedliner, weathertec mats, etc.

 

A big part of me likes the idea of not having a payment due each month, while another part of me doesn't want to settle. . . I like the features on the LTZ- leather, parking sensors, center console, rear sliding window, 20" wheels, running boards; it's a nice truck. In contrast, the LT is pretty standard- LT convenience package, Sport package and trailering package.

 

Put yourself in my shoes and help me decide what I should do! I plan on keeping this truck until the wheels fall off, at which time it will become my son's truck, so spending the cash now to get what I want is beginning to look a lot more appealing to me. . . it was a tough decision to try and make this afternoon at the dealership though! Had to go home and sleep on it!

 

Nevermind, I see it is a specific truck. Because I like leather I would pay and get the LTZ.

[Colorblind729]

Have you factored in covering the income tax on winning?

 

Oh yeah, the IRS is going to do a number on my taxes next spring! I have a few things going for me though. . . mainly that I finished school this past semester and worked next to nothing for the 1st half of the year! So the 1099 I receive shouldn't throw me into the next bracket. But yea, I'll still have a bit of a tax bill to deal with in April.

[Colorblind729]

 

Are you stuck with a certain dealer? I just looked on auto trader and you can get a CCSB 2015 Silverado LTZ 4x4 5.3 for $37350 plus $1000 and doc fee maybe $250 or so $38600 total.

 

At this point if you can't get at least 10,000 off MSRP wait 2-4 weeks until you can. There is not reason you should be paying much or any out of pocket for this truck since you have a $38K down payment.

Stuck with a certain dealer, and they're only coming $6000 off sticker. Fortunately, I just logged onto Chevy's website and got prompted for a Private offer code, so hopefully they will accept it for $1500 off. . . This particular dealer only has a couple more LTZ's on the lot, no High Country's and a boatload of LT's. Down here, the dealers don't seem to be selling at deep discounts like I see elsewhere.

[Britt Lifsey]

I've always heard it's 50% on winning something like that...never won anything of value so don't really know. Many years back, some apartment neighbors were a Pontiac Fiero. They ended up selling to pay taxes.

[OmahaBen]

If you are worried about the tax you need to pay then it may be wise to take the truck they gave you and take a loan or pull savings you have to pay the taxes. It would be a shame to have an awesome win and have to sell because of tax.