Can't decide. . .LT or LTZ?

Colorblind729 · October 15, 2015

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.

The one they are selling has a base price of $37,135 and the LT Convenience package adds $1730 and the Sport Package adds $2365. A couple other options (V8, underseat storage, floor mats) and a Sport package discount of -$750 brings the total price to $44,155. Yours must have had an additional package to bring the MSRP up to $47500- regardless though, it's a better deal than what I am getting here, but it is what it is.

Colorblind729 · October 15, 2015

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.

Income taxes on it will be either 24% or 27%, I can't remember. When I talked to my CPA, I was told it would be a little less than $10k, but that doesn't include any deductions I can take on fishing-related expenses for the year. (similar to how gamblers can deduct losses from winnings to soften the IRS blow) In addition, I was told in passing that I may be able to spread that over the course of the next few years to lessen the up front tax hit. A more in depth visit to the CPA will be made within the next few months!

Tek74 · October 15, 2015

Aside from the lack of a factory trailer brake controller, my 2015 LT Z71 has everything I want. But I'm a simple guy who doesn't NEED or DESIRE every damn luxury, bell, and whistle like leather seats, sun roofs, wood grain interiors, seat coolers, etc. To me those are all luxury items that are better suited to a luxury car than a vehicle designed for work. I'm not knocking anyone who wants or bought an LTZ, High County, or Denali model. I'm just saying what I don't care about. You are in a unique situation where you can pick up an LTZ model for very small investment. If that's what YOU really want, then do it right the first time, and go for it.

Northside · October 15, 2015

It's all about what you want. I looked at an LT, actually made an offer that they rejected, then I saw an LTZ on the showroom floor. To me the extra money to get leather, auto dimming mirrors, console with the Bose subwoofer system, and better headlights was worth it to me. Both trucks had sliding rear windows. What makes you happy is what to get, especially if you plan on keeping it a long time. I don't regret spending the extra money to get what I really liked. Good enough really isn't.

Badass69 · October 15, 2015

The absolute only reason I bought an LTZ was to get the 6.2... and even it was a bit tougher as mine is just an extended cab as I have no desire for a crew. If I could have the truck would have been an LT... so if both trucks are 5.3's I would get the LT. I don't really see the leather in the LTZ as an "upgrade" especially if you have a well appointed LT.

Sent from my potato

Surge-214 · October 15, 2015

Id go with an LTZ and finance the difference. Some of us dont need a truck for work. We may need it for when family or friends move. When going to the lake or park and putting the kids stuff in the box. Or just to have a truck and something different. We already have an SUV and a small car for work so all we needed was a truck.

With how high the newest GM SUVs are Id rather get a fully loaded "luxury" truck for 40k than pay 60k for a new SUV.

2004lebanshee · October 15, 2015

I looked at 3 trucks.

4x4 LTZ red 2 tone leather console with some options stickered around $50,000

4x4 LT2 Z71 white diamond Black Leather, options, ect stickered $49,500 (end up paying $35,500 OTD)

4x4 Base LTZ red $46,000.

Went with the LTZ71. Liked the looks of the Z71. Wanted leather and hated the fake wood looking crap on the doors. Looks like an old man truck in side. The 50K LTZ was even worse. Had console which I hate but had 2 tone leather. I went there wanting white diamond with jet black leather interior so in the end I got what I wanted. I'm really not sure what options an LTZ could come with that I would care about having over my truck.

crushNchowda · October 15, 2015

You essentially got a "free" truck worth $44,000?? And you're on the fence on what to do.....is this the twilight zone!?!?

Screw the LTZ get a fully loaded high country or Denali w/ a 6.2 & any accessories you want!!!!!

YOLO

raym0016 · October 15, 2015

The one they are selling has a base price of $37,135 and the LT Convenience package adds $1730 and the Sport Package adds $2365. A couple other options (V8, underseat storage, floor mats) and a Sport package discount of -$750 brings the total price to $44,155. Yours must have had an additional package to bring the MSRP up to $47500- regardless though, it's a better deal than what I am getting here, but it is what it is.

Mine is a crew cab with 4x4, maybe the difference is Crew vs Double cab?

tstodda · October 15, 2015

I went from a 14 Sierra SLE (close enough to a Silvy LT) to a 15 LTZ and am very happy. The LT will likely have all you need, but the LTZ has more!

I had a co-worker who won a F-150 valued at like 50k if I remember right. After TTL and the IRS it cost him around 23k...still not bad IMO.

FishinJ · October 15, 2015

Congrats on winning the fishing tourney. Be sure to keep all receipts and records of fishing the tourney so you can at least expense some of the winning out. Go with the LTZ because those bells and whistles sure are nice to have unless it's going to be a work truck.

Where were you fishing and what did you catch?

Tattooo · October 15, 2015

Congratulations !!!!! I am a Sierra guy myself

LTZTom · October 15, 2015

What he said!

What they said !!

jamin87ss · October 15, 2015

Congrats, lucky! Now finance that 12k @ 0% for 72. ;o)~~

October 16, 2015

Hold on a sec. Couple ways to look at this windfall. Maybe I'm older than you ;). I wouldn't be in such a hurry to blow my wad and maybe look at it as a golden opportunity to build net worth. You're in an enviable position. If you were to use this money to eliminate a car payment (a depreciating asset), you could invest that monthly payment into something that appreciates. I don't care how low the APR is, it's still debt. Don't be tempted to think of financing as candy. It does need to be paid in full. Try to pay cash for every car you buy (or lease if directed by CPA) and you'll never regret it.

I too was on the fence between an LT and LTZ (2500HD). When I was completely honest with myself, I didn't want or need half the incremental features between the LT and LTZ (no sunroof, GPS when I have GoogleMaps?, no center console (kids like to sit up front), no lane change warning, etc., KISS. My wife did want leather though. So I bought a nicely optioned LT with Z71, towing, orange light thingies overhead, decent-enough 18" wheels, cloth seats...and before delivery, negotiated a big discount for 'add-on's': a custom Katzkin leather seat package (far better than OE), mud guards, tonneau, spray-in liner plus Bedrug liner...then bought/installed AMP steps on my own. Point is, I bought a basic truck but added exactly what I wanted and nothing more, and still paid less than the LTZ. Candidly, I did have to resist the temptation to buy the Duramax but that's another math equation.

I did finance this one...but only because the APR is well below what I earn on that money in my investment account. But that cash is there to pay off the note in full any day the ROI falls below the APR. Huge congrat's on your WINfall. Spend it wisely!