Trade In or Wait

[Jon S.]

Wanted to hear others opinions on my current situation regarding trading in my 2015 1500 Silverado Z71 LTZ for a 2018 2500HD LTZ/Denali or wait for the new body style in 2020.

 

Key pieces on information:

1. 1500 will be paid off in March

2.  If I did decide to trade in today it would be because I got the right deal on a 2018 2500HD it would make my current payments stay the same or possibly go down slightly.

3.  It is harder to make my decision without knowing all the details of the 2020.

 

Here are the questions/facts I can't come to a satisfying answer on:

1.)  If I waited for the 2020 to come out before upgrading I would have roughly a year of no payments.

      1a.) Waiting means my payments for the 2020 would be significantly higher due to less value on my 1500 and less incentives for a newly released model.

2.)  I have been wanting a diesel for years and still beat myself up about not spending the extra 10K when I bought the 1500 3 years ago to get the diesel.  I am not one to get a new vehicle that often I have only owned 4 vehicles in 20 years of driving and with kids now the wife will be upgrading far more often than I will so the reason I am getting the diesel is longevity, size ( don't like the standard bed look on a 1500) and towing (not done regularly but when I do towing with a 1500 makes me nervous).

3.)  I am afraid if I get a 2018 2500HD now when the 2020 comes out I will be jealous and want to trade it in.

 

Did my best to write out my thought process if you have more questions or need more clarification let me know.

[rkj__]

I'm not a fan of first model year vehicles.  I'd either go for a 2018, or a 2021 if you can wait that long.

[2017Darkness]

Trade now, then trade in 2021

[diyer2]

If you like working, keep buying new vehicles.

Owned 1 used vehicle in 20 years.

Edited November 16, 2018 by diyer2

[Donstar]

I sense this is more of a want than a need.  I've also been looking at upgrading my '15 hoping to pull heavier trailers but its a lot of money for a "just in case".   The one major feature that my current '15 has over any '18 is that I owe nothing.  This is a good feeling and you should wait until April to see how it feels!

[outrag1]

I don't think there's a clear answer to this because some of it certainly is subjective.  Beyond that, it comes down to the true cost of ownership per year and how much you want to pay per year.  My view is you will pay one way or the other.  I've restored cars and have project cars, but I like my main driver to be fairly new (within 4 years old) and under warranty when possible.  I also consider the value of my trade and the longer I wait, the more that goes down, and the new vehicles will only rise in price. 

 

I'm considering the same move (except not HD) in trading my current ride for a leftover 18 at a good deal.  I don't want 1st year 19, so I'd have to wait a couple years to make a move otherwise and what's my current truck going to be worth then?

 

I think to absorb depreciation and not get hammered, the rule of thumb is 4-5 years of ownership.  It sounds like you are right at that point.  If you can get a good deal on a proven, leftover 18, that may be your best bet to maximize your trade as well.  Otherwise I'd wait a couple years (2021?) for the new design to shake out.

[iyoung7089]

Pay off the 1500 and wait for the 2021, keep acting like you have a payment and put it away in an account that is set for the new truck. When you get to the point of purchase you will have a great down payment on top of the trade and at that time decide if you want another payment and really need the larger truck or want the good nest egg you have built over the 12-18 months while waiting for the 2021 to come out. I’m one to talk as I’m looking at the 18’s and 19’s because I’m the same as most and don’t like but the first year of a change and wait until the year after and don’t know if I “want” to wait that long for a new one. Trying to time it so a new one is paid off as I time getting done work.

 

Sent from my iPhone using Tapatalk

 

[rjpoog1989]

I’ve decided to wait. You probably should wait too.  I’m going to pay mine off and then start building up a down payment.  I’ll keep this one till she starts nickel and diming me.

[Black02Silverado]

I would wait.  Like stated above.  Keep putting away the payments like you would be making them anyway.  That would get you a nice down payment on the new one for sure. 

[Jon S.]

I have decided to wait this year especially after seeing the new ones...I need some time for them to grow on me or hope the gmc looks better.  Now I am considering getting the 2019's for a great deal when the new HD's hit the dealers.

 

Appreciate everyone's input.  Big expense and will be keeping this for a longtime so want to make the right choice.