Trade in prices? 14/15 models

jamin87ss · December 15, 2015

Probably hard to get a decent trade when local dealers are doing $13k off MSRP on 15's!

That's half of it for sure,

Surge-214 · December 15, 2015

My 07 Tahoe went 9 years with 0 problems! Yes 0 problems before I finally traded it in for my wifes 2016 Impala which we plan to keep for 7-10 years as well. Im sure a lot of it was luck but all I ever did was regular oil changes. No transmission flushes or tune-ups, nothing!

Again Im sure luck was on my side but I just never understood the whole trade in or lease every 2-3 years before the warranty runs out or for whatever reason.

Silverado Steve · December 16, 2015

Not sure if you guys are referring to my post, I don't lease my vehicles.

Not specifically. It matters not if you're leasing or buying, rather anyone who thinks having a perpetual car payment is a good thing needs to have their head examined. Only way I can see it making sense to lease is if it's for a company with ensuing tax write off.

rshad · December 16, 2015

Not specifically. It matters not if you're leasing or buying, rather anyone who thinks having a perpetual car payment is a good thing needs to have their head examined. Only way I can see it making sense to lease is if it's for a company with ensuing tax write off.

What is the difference if you have a lease or if you are paying off a vehicle if you are only going to keep a vehicle for three or four years. I just traded in a three year lease and made over $5000 in equity towards my next purchase. not really any different then if I would have been paying off the truck. I might even have lost more if I put a large down payment on a purchased truck. I got into a lease with my last truck with only $2000 down and just upgraded to a new 2015 for $0.00 down for a truck with a MSRP that was $9000 more then the last and still pay less then I was paying for the old truck. Same money factor and residual value % as my last lease.

JRaschke11 · December 16, 2015

My 07 Tahoe went 9 years with 0 problems! Yes 0 problems before I finally traded it in for my wifes 2016 Impala which we plan to keep for 7-10 years as well. Im sure a lot of it was luck but all I ever did was regular oil changes. No transmission flushes or tune-ups, nothing!

Again Im sure luck was on my side but I just never understood the whole trade in or lease every 2-3 years before the warranty runs out or for whatever reason.

I had a 2004 Sierra SLT with a 5.3 that I purchased in 2006 with 24k miles and sold in 2011 with 98k miles. In those 5 years and 74k miles I replaced the brakes, tires, a battery, and one O2 sensor because a mouse chewed through the wire while it was sitting in the barn. Maybe I got lucky or maybe these trucks are just built to last.

jamin87ss · December 16, 2015

I had a 2004 Sierra SLT with a 5.3 that I purchased in 2006 with 24k miles and sold in 2011 with 98k miles. In those 5 years and 74k miles I replaced the brakes, tires, a battery, and one O2 sensor because a mouse chewed through the wire while it was sitting in the barn. Maybe I got lucky or maybe these trucks are just built to last.

similar, I bought a 05 in 09 with 15k, ran until 110 last Dec not even a wheel bearing or window motor, sometimes I still wish I had it, but I digress

ultimately I worry about the electronics in these new trucks, I know its a modified "new" motor, but if there is gonna be issues I bet its with the electronics, sensors, that stuff, only other real worry I have is if the radio ever goes down, thats a big issue if out of warranty

Silverado Steve · December 16, 2015

The question is, why do you only keep a vehicle for 3-4 years to replace it with a similiar vehicle? Do you truly think a vehicle expires at the end of its bumper/bumper warranty? The difference as I mentioned before is, after 3 years, you roll into another lease and extend your payments for 3 more years. If I took my truck and refinanced it after 3 years for another 3 years, yeah my payment would be pennies too. Sure I wouldn't have the nostalgia of a new truck, but I would have equity in the value of the truck outright which you don't have with a lease. Think if you had just paid for that same truck outright for 6 years (two 3 year leases) you would of had no more payments and the truck would be yours outright with equity to boot. The mileage allocation doesn't make a lease a feasible option for many high mileage drivers including myself.

What is the difference if you have a lease or if you are paying off a vehicle if you are only going to keep a vehicle for three or four years. I just traded in a three year lease and made over $5000 in equity towards my next purchase. not really any different then if I would have been paying off the truck. I might even have lost more if I put a large down payment on a purchased truck. I got into a lease with my last truck with only $2000 down and just upgraded to a new 2015 for $0.00 down for a truck with a MSRP that was $9000 more then the last and still pay less then I was paying for the old truck. Same money factor and residual value % as my last lease.

KARNUT · December 16, 2015

Some people live in their vehicles use them for work and get paid for miles, and trade often. For people who don't drive many miles keeping them longer makes sense . I adverage 30-50 K per year so three years is the longest for me

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Silverado Steve · December 16, 2015

Sure and that makes sense with that many miles and in your instance a lease wouldn't make sense. I'm speaking more so on the people wh get rid of their vehicles with relatively low miles. Looking at the other thread of how long do you normally keep your car, there are still a few who trade in under 36K miles. For those who just like new cars, cool. But for those who say they save money in the long run trading in every couple of years with low miles and save money doing so, I have to disagree.

Some people live in their vehicles use them for work and get paid for miles, and trade often. For people who don't drive many miles keeping them longer makes sense . I adverage 30-50 K per year so three years is the longest for me

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rshad · December 16, 2015

Sure and that makes sense with that many miles and in your instance a lease wouldn't make sense. I'm speaking more so on the people wh get rid of their vehicles with relatively low miles. Looking at the other thread of how long do you normally keep your car, there are still a few who trade in under 36K miles. For those who just like new cars, cool. But for those who say they save money in the long run trading in every couple of years with low miles and save money doing so, I have to disagree.

I have been caught with keeping a new truck to long and if it starts having problems and your job depends on it running top notch every day you just can't take chances. Don't get me wrong, i would have loved to keep my last truck which I could have easily purchased after the lease and still had at least $5000 worth of equity in it but I have been caught with keeping an older truck that I purchased new dying on me and forced me to make a speedy decision on a new one if I wanted to still work. I have owned nothing but brand new vehicles my whole life (7 vehicles) starting when I first got my licenses and I have had both lease and purchased vehicles, it's just more sound for me for the way my job is. Of course I know that you can have problems with new vehicles but at least while under warranty I would get a loaner to use from my dealer.

shockedimpy · December 16, 2015

If you will continually make car payments throughout your car ownership period, then why not pay the same/less for a newer vehicles every few years. For many, leasing a $50k truck becomes a possibility, while financing may be out of someones reach. My mother leases a 2015 Honda Civic for $45 per month. She will tell anyone who thinks paying for something every month is a stupid idea to fly a rock. Its all perspective.

I don't own a vehicle for longer then 2-3 years, so when I go to Chevy come May, I will look to lease a truck. I also don't drive more then 10k miles per year.

amxguy1970 · December 16, 2015

What is the difference if you have a lease or if you are paying off a vehicle if you are only going to keep a vehicle for three or four years. I just traded in a three year lease and made over $5000 in equity towards my next purchase. not really any different then if I would have been paying off the truck. I might even have lost more if I put a large down payment on a purchased truck. I got into a lease with my last truck with only $2000 down and just upgraded to a new 2015 for $0.00 down for a truck with a MSRP that was $9000 more then the last and still pay less then I was paying for the old truck. Same money factor and residual value % as my last lease.

The word equity is misleading, it is easy to have equity in a vehicle if you have paid more than it is worth (easy to do with the steep discounts you can get on these trucks these days). Just because you have equity in something doesn't mean it is all green lights. There is so much more to it than just, I have equity to apply to another 72 month car note...

Tyler

Silverado Steve · December 16, 2015

And there lies the question, why would you choose to make car payments for life?

If you will continually make car payments throughout your car ownership period, then why not pay the same/less for a newer vehicles every few years. For many, leasing a $50k truck becomes a possibility, while financing may be out of someones reach. My mother leases a 2015 Honda Civic for $45 per month. She will tell anyone who thinks paying for something every month is a stupid idea to fly a rock. Its all perspective.

I don't own a vehicle for longer then 2-3 years, so when I go to Chevy come May, I will look to lease a truck. I also don't drive more then 10k miles per year.

rshad · December 16, 2015

The word equity is misleading, it is easy to have equity in a vehicle if you have paid more than it is worth (easy to do with the steep discounts you can get on these trucks these days). Just because you have equity in something doesn't mean it is all green lights. There is so much more to it than just, I have equity to apply to another 72 month car note...

Tyler

Nothing against you Tyler, Some just don't like leasing. I get it. I use to be that way until I learned a lot more on leases years ago. If you don't like leases fine, just don't make it sound like you get ripped off if you lease every three years or so.

Also equity is the amount over and above what it is worth after you take away what you have into it and what is owed. So when I turn in a truck and it is still worth $5000 to $6000 more then what I would need to purchase it and they give me that extra in trade towards a new truck and I started with no money down to begin with, how is that not a plus.

I am not going to keep going back and fourth on this but I do know what I am talking about. When you get a vehicle for, even after lease pay-off plus including the total of all monthly payments made and still end up with only paying $34,382.00 for a truck that MSRPed at $48,160.00 I still think that is a good deal. I am done. Thank you.