$9,157 off MSRP...Buy now or wait?

[1013_79z28]

Hi everyone! I'm looking at a 2015 Silverado Crew Cab 1500 LTZ Z71 with 2LZ package. MSRP on sticker is $54,460 and it is currently marked down to $45,300. It has the 6.2 liter engine and 8 speed transmission, which I really don't need because I do not tow anything...it just so happens that this particular model has it. The dealer said that the vehicle is discounted as low as they can go on it.

 

I currently have a 2012 Silverado 1500 LT Extended Cab with 42,000 miles which I purchased new in April 2012 at 0% interest for 72 months. My payoff on this loan is approximately $16,900 and the dealer is showing me $21,200 on trade for my 2012...trade equity of $4,243. My current payments are $485.00 per month and I do not want to go over $550.00 per month on a new truck payment. I'm thinking the best way to go with this would be to take the discounts/rebates and pass on the 0% for 72 months if I can pull this off. If I take the loan for 84 months at 3%, it would put me in the $580's per month range, which is $30 higher than where I want to be. So, would it be best to try to haggle more with the dealer over the $30 difference per month and try to buy it now and take advantage of the $9,100 of MSRP sticker or wait for awhile? I definitely want to go with a 2015 model compared to the new 2016's. Just not sure how many '15's will still be available a few months from now and will they still have $9,100 or so off the sticker price?

 

Thanks!

[Huetatos]

If 15's are still around by the end of the year there is a chance that it could go lower. However in reality it is what you want. If it is the truck you want go for it, if it doesn't have the stuff you want then try to find one that you like. Unless you're going to trade it in again, in a few years.

 

I didn't get the silverado I wanted however I got it low enough it was what I settled for. With that 6.2 you'd be set if you ever do decide you need to tow.

[1013_79z28]

Well, if I do get this one, I'm keeping it long term. I wanted a crew cab back in 2012 when I had to settle for an extended cab because that was all I could get financed for at the time. Being that the '15 I am looking at now is the LTZ Z71 with the 2LZ package, it is pretty much loaded up with everything that I can think of (with the exception of a moonroof). I would actually prefer the 5.3 liter with the 6 speed trans compared to the 6.2 liter with the 8 speed trans, but the difference in estimated gas mileage is only 1 MPG between the two engines. I believe the 5.3 in my current truck is rated at 15 MPG city and 21 MPG highway, which is what the 6.2 liter is rated at.

[1013_79z28]

This might change everything... I just read a post on here where someone stated that the 6.2 liter engine requires premium or high octane fuel. Anyone know for sure if this is true? If it is true, chances are very good that I will pass on this one and look for a 5.3.

[99silveradoz71]

I do believe the 6.2's recommend premium. Also, not only are you looking at a payment over what you'd like to spend, but you're also looking at extending the term of your loan. Just something to think about.

[Huetatos]

If that is true then assuming it takes 91 octane (premium) that is like $10-15 more per fillup.

It wouldn't surprise me if the 6.2 uses premium which http://www.chevrolet.com/performance/crate-engines/lt1.htmlaccording to that it does.

26 gallon fuel tank assuming you fill up weekly could be something like a 20 gallon fillup at 20-30 cents more per gallon (premium) could be 6 dollars more per tank. I don't know the gas prices over there but you could do the math and see if that is something you want to live with to get that higher power.

I have had a bad luck on my 5.3 in fuel economy. I'm averaging 14.8 over 6000 miles but it has just been dropping since then but that is just my experience with the my 5.3. A lot others around here have had much higher mpgs so I think I just got unlucky. I also didn't do enough research and ended up with the 3.08 axle (would prefer 3.42 at the minimum.) Just make sure you do your research and don't fall into a vehicle that doesn't have everything you want.

[Doobs41378]

I think deals like this are around a lot so if it is not the exact truck you want then I would pass. Keep in mind you are paying more for the bigger engine and the gas as mentioned s,o if you do not want or need it then look around for another one. 84 months is a long time to be paying on something IMO. I wish you luck in whatever you decide.

[tnchevy]

It is not difficult to get 20% off these trucks anytime of the year, and you can get 25% off for year end models which is what the 2015 is now. These trucks are way over priced (so are Ford and Ram) on purpose so they can act like they are giving huge discounts. Myself and 5 other family members and friends have all bought new trucks in the past year from the big 3 and all of us got them for 20% or more off the sticker.

[NoProblem]

I suggest going to this link and tailor it to the truck you want. At least that's what I did and it worked out real well for me.

http://www.cargurus.com/Cars/l-Used-2015-Chevrolet-Silverado-1500-LT-ev1765

 

These dealers today must take courses and probably get degrees on how not to haggle while making it seem like they are I think.

 

I also drove about 80 miles to a few different dealers in the sticks, one of them gave me the deal I was looking for, but I was there well over two hours negotiating till they agreed to my price. But the above link was one of the best tools I used to locate the truck I wanted at a price I could work with.

 

 

[robvas]

did you call to check on the insurance cost on a new truck vs the NNBS?

[batman900]

I had no idea the 6.2 wanted premium. Honestly the 6.2 was the only thing I wanted but missed out on. Kinda not as sad about it after hearing that. Yes premium may only be 30ish cents more right now but I've had cars that required it for years until this truck, when gas prices were high, premium was average 60-90 cents more per gallon. If you fill up once or more a week that is a heavy pill to swallow on top of already owning a truck during such time.

 

To OP, like others have said, these deals on 15s are everywhere, I'd search a little further away to get exactly what you want at the price you want.

[Badass69]

Let someone else that wants a 6.2 buy that truck..... there is a 10:1 ratio or more 5.3 trucks out there than 6.2's. If you can't afford premium fuel/ don't want to buy it or whatever excuse, buy the 5.3 as it runs on 87 just fine and is designed for it. The 6.2 will run on 87 as well but be in the lower octane spark table and basically run like garbage comparitively to one on premium in the long term. That doesn't stop people though.... plenty of 6.2 trucks of this generation and the past (07-13) and I have yet to see someone fill one up with premium fuel while I am at the gas station lol.

[ruggerag]

6.2 recommends premium, but if you tune it you can tune to run on regular or mid grade. In reality, you can run either just fine without a tune, but the premium gas gets me a little better fuel economy, almost makes the price difference a wash.

[batman900]

^ Indeed, I won't run 87 in anything that "recommends" premium. Forces the vehicle to retard timing etc. Just as I won't put premium in anything tuned for 87 as IMO it's a waste. BUT let's not thread jack into that topic.

[Silverado-Hareek]

Not even looking at the vehicle side of things, I'd advise against financing a vehicle longer than 72 months. Preferably 60 months. 48 months is the best scenario most financial advisers will tell you but that can be unrealistic with the prices of these vehicles.

 

But at 84 months, your're paying interest on your loan and making payments well into the time period when you're going to start paying for the big vehicle repairs. Financially speaking, it would be best to have the loan paid off before the high repair bills start hitting.

 

If I was in in your position, I would either keep the truck you have or buy less of a new truck.