Trading in the 2016 LT

Imcrazy · December 17, 2016

You'll lose your @ss on the truck trading it in ( maybe you put money down up front so you won't be upside down but, don't be fooled by the stealerships definition of negative equity vs real negative equity) Mods won't add any value, the actually reduce the value of your truck, take 'em off and sell then parts on this forum or put 'em on the next truck. Email three or four dealers and make them compete against each other till each of them says uncle. Now is a good time to buy.

pickmeup · December 17, 2016

Now take your time son on this test ride and make sure momma gets a good ride . Take your baby too we will get that car seat swapped for you. Better still if you and momma want to be alone leave the baby with us. We are rushed with oil changes and the baby can help out in the oil change bay while you lovely people are on your test ride. Remember we have to appraise your trade and we will even give it a good wash job for you.

Chevrojayy97 · December 17, 2016

Thanks for the replies all, I know I'll be taking a hit on the truck. I guess my initial question here isn't whether I should trade or not, but rather if I should mod a truck I already have with options it didn't come with from the factory, or should I opt to go ahead and get a truck the way I want it whenever it is economically feasible (around the 3-4 year mark). I don't want to go full on modding a truck a may or may not keep. Just wanted everyone's experiences, with the 5.3 vs 6.2, 6 spd vs 8spd, crew cab vs double cab, lt vs ltz trim levels and so on.

JacobC1983 · December 17, 2016

Maybe a dumb question, but what the heck is the "range device" ??

I have a '16 Z71 with the 5.3 and 6 speed but the 6.2 sounds like it would be more fun!! (o:

It turns off the AFM (active fuel management) so the truck stops going into V4 mode and stays in V8 mode all the time.

2016 Sierra Owner · December 17, 2016

Maybe a dumb question, but what the heck is the "range device" ??

I have a '16 Z71 with the 5.3 and 6 speed but the 6.2 sounds like it would be more fun!! (o:

Here you go. I don't have one myself but, several on the forum here do. http://www.rangetechnology.com/

Rayce08 · December 18, 2016

your gonna lose either way unless you put a lot of money down on the current truck or new one .... its a no win for you after only a year ...... and never ever tell the dealer what you wanna pay every month , they control the game after that , if they ask say 100$ ..... #1 rule if using dealer financing .....

Pacfanweb · December 18, 2016

Thanks for the replies all, I know I'll be taking a hit on the truck. I guess my initial question here isn't whether I should trade or not, but rather if I should mod a truck I already have with options it didn't come with from the factory, or should I opt to go ahead and get a truck the way I want it whenever it is economically feasible (around the 3-4 year mark). I don't want to go full on modding a truck a may or may not keep. Just wanted everyone's experiences, with the 5.3 vs 6.2, 6 spd vs 8spd, crew cab vs double cab, lt vs ltz trim levels and so on.

If you want the 6.2, then nothing you do to the current truck is going to satisfy that want. Or the crew cab...personally, I think the double cab is a pretty dumb design. Little bit bigger than an extra (or super) cab, but not quite a full crew, which is what everyone wants anyway. Double shouldn't even be an option, IMO.

Anyway, you want a 6.2 crew. Get it, but just don't trade. Sell your current truck to someone, and if you can't get what you need to pay it off, get as much as you can and pay the difference out of pocket. That will be FAR cheaper than either modding your current truck, or trading.

Here's the real secret that most folks don't want to admit to themselves: If you can't afford to pay the difference in what you owe and what you sell it for, you can't afford a new truck, either. And you probably can't even afford the one you have.

And if you trade it, that difference is going to be much higher, and you're going to pay it anyway....it'll be incorporated in the loan of your new truck. That's no matter what the dealership tells you.....that money you owe isn't going away, it isn't going to be "taken off the price of the new truck" and they damn sure aren't going to "give you more for your trade".

You'll get rough book value, if that......or whatever the trucks are bringing at the auctions at the moment. That's it. And that number will be thousands less than you could put it on Craigslist or Autotrader or somewhere and sell it for, and those thousands mean a considerably lower or higher payment. And could be put towards modding your new truck.

KARNUT · December 18, 2016

What? I like the double cab, would rather have extended cab. I primarily used my truck for work. I would never have a truck as primary pleasure vehicle. Too many other great options that are faster, easer to park and haul people and get better gas milage, for less money. We have lost our way with p/ups and driven up the price in the process. I guess I'm in the minority on that one.

TheGovernment · December 18, 2016

your gonna lose either way unless you put a lot of money down on the current truck or new one .... its a no win for you after only a year ...... and never ever tell the dealer what you wanna pay every month , they control the game after that , if they ask say 100$ ..... #1 rule if using dealer financing .....

What the hell are you talking about? I work at a dealer and it's the same price financed or cash. This isn't 20 years ago. We don't care if you finance it since that's what 99.9% of the sales are.

Pacfanweb · December 18, 2016

You must not work in sales, then, and you clearly don't work in finance. The dealer absolutely, 100% "cares" if you finance it with them...whether they use GM financing or a bank.

Dealers make money on the financing, too. Those rates and fees are also very negotiable. They also often get kickbacks from financing companies, just like they get them from GM (or Ford or any other manufacturer), so yes....they care a LOT whether you finance it.

Most dealers much prefer that you finance it with them. Finance guys hate doing cash deals, because they don't make any money on them. They are reduced to simply being paper shufflers in those cases.

That is why you negotiate initially on the price of the vehicle and the price of the vehicle ONLY.....get that settled to your satisfaction before you let them know you also need financing. Don't ever mention trade until you get the sale price where you want it. Otherwise you will never know what you really got for your trade. (this is if you insist on trading, which you should basically never do unless you just like throwing away money)

That way your sale price is set, and you can then focus on how fair/unfair you think the financing costs are.

pickmeup · December 18, 2016

Stout advice that will serve anyone well IMO.

Pacfanweb · December 18, 2016

What? I like the double cab, would rather have extended cab. I primarily used my truck for work. I would never have a truck as primary pleasure vehicle. Too many other great options that are faster, easer to park and haul people and get better gas milage, for less money. We have lost our way with p/ups and driven up the price in the process. I guess I'm in the minority on that one.

You are probably right. I shouldn't have implied 'across the board for everyone'. But for the OP, seems like he needs the extra room for his family. That's what I was really talking about. That's why I have a crew cab.

I can certainly see the point of an extra cab so you have a little bit of extra room behind the driver seat. But the double cab seems pointless... If you want an extra complete door and a set of seats back there why not just have a full crew cab?

Rolling Thunder · December 18, 2016

You must not work in sales, then, and you clearly don't work in finance. The dealer absolutely, 100% "cares" if you finance it with them...whether they use GM financing or a bank.

Dealers make money on the financing, too. Those rates and fees are also very negotiable. They also often get kickbacks from financing companies, just like they get them from GM (or Ford or any other manufacturer), so yes....they care a LOT whether you finance it.

Most dealers much prefer that you finance it with them. Finance guys hate doing cash deals, because they don't make any money on them. They are reduced to simply being paper shufflers in those cases.

That is why you negotiate initially on the price of the vehicle and the price of the vehicle ONLY.....get that settled to your satisfaction before you let them know you also need financing. Don't ever mention trade until you get the sale price where you want it. Otherwise you will never know what you really got for your trade. (this is if you insist on trading, which you should basically never do unless you just like throwing away money)

That way your sale price is set, and you can then focus on how fair/unfair you think the financing costs are.

Eddie,

A finance manager may get 1/8TH to 1/4 of one percent from the financing institution, whoever it is, and they also make a decent cut from any extended warranties they sell. One-eighth of 1% may not sound like much but added together from a week's / month's sales of either new or used and one can see how many good finance managers are making 6 figure incomes. So, yes, a financed sale is preferred to more than a few people at a dealership.

Pacfanweb · December 18, 2016

Eddie,

A finance manager may get 1/8TH to 1/4 of one percent from the financing institution, whoever it is, and they also make a decent cut from any extended warranties they sell. One-eighth of 1% may not sound like much but added together from a week's / month's sales of either new or used and one can see how many good finance managers are making 6 figure incomes. So, yes, a financed sale is preferred to more than a few people at a dealership.

Exactly. There is not a single thing wrong with the dealership making money. That is what they are there for.

From the consumer standpoint, if they want to know exactly how the deal is going, they need to break it down somewhat like I described earlier.

I've always found it amusing that people think a dealership is only supposed to make 300 or $500 on a $50,000+ vehicle. But they will go into the mall and pay 30 or $40 for a polo shirt that only cost the store $3.

Rolling Thunder · December 18, 2016

Exactly. There is not a single thing wrong with the dealership making money. That is what they are there for.

From the consumer standpoint, if they want to know exactly how the deal is going, they need to break it down somewhat like I described earlier.

I've always found it amusing that people think a dealership is only supposed to make 300 or $500 on a $50,000+ vehicle. But they will go into the mall and pay 30 or $40 for a polo shirt that only cost the store $3.

Eddie,,

Dealerships don't make what they did on a vehicle 30 / 40 years ago so they have to improvise other ways. I know for a fact that a few years ago Ford made an average of $10,000 per F150 clear. That included everything from an XL to a Platinum / King Ranch. The dealers may make 8-10% on a high-end truck. GM is no different.

The problem with establishing your cost on a new vehicle and not mentioning you have a trade-in up front is that when it comes to establishing your trade-in value, they will cut that to match what they lost on your window sticker. Regardless, one still needs to do their homework and buying a new vehicle can be fun. I spent hours searching the Internet and looking at prices / inventories (many hours looking at the new F150's too!)

One item that really gets me boiling is the "official" looking add-on sticker many dealers stick next to the window sticker selling door edge moldings, protection package and other bullShit. I was fortunate that they hadn't gotten to my truck yet and that I didn't have to get into that with them but they probably got me in some other way.