At what point are you trading up?

royalkangaroo · December 30, 2022

Just curious for those who have owned their trucks for a while, what are your thoughts on upgrading?

I've had my 2015 Sierra going on 7 years now, and while vehicle prices aren't very attractive, it does cross my mind. I'm at 93,000 miles, meticulously maintained, and have had very little problems.

My only concern is that 3-4 years from now, there will be much less value or demand for a 10 year old truck with say 130k miles as opposed to current condition. Other than that, I have no real itch to get into something newer.

Yotaman · December 30, 2022

With current prices ima just keep mine and hope for the best. I figure a trans rebuild for 3-5K and another broke AC condenser I can fix is worth the gamble over my truck and 35K to trade ??

KARNUT · December 30, 2022

I’m retired so my view on trading up changed especially after buying my 2014 GMC. I had a modified 92 Chevy at the same time. I wasn’t impressed with the 14 so it got sold. Luckily I bought it right so I didn’t get burned. After 12 years with the 92 it was just about flawless even though it wasn’t stock. I was ready for something else. I found my favorite 02 avalanche 3 years ago. In my opinion the 01-06 are GMs all round best. With the new small truck craze Ford has peeked my interest in new again. With the maverick. I expect GM will follow suit. I’m would be watching for GM to put the new 4 cylinder in. If they hit the mavericks price point. I could be a new GM buyer again.

diyer2 · December 30, 2022

You have to decide your best option. I keep vehicles for a long time due to the cost as you say. I figure if its been reliable why get rid of it. The insurance and plates get cheaper with age, so I figure I save money the longer I keep it.

I have also continued to put the monthly payment into a savings account after it's paid off for the next purchase.

customboss · December 30, 2022

2 hours ago, royalkangaroo said:

Just curious for those who have owned their trucks for a while, what are your thoughts on upgrading?

I've had my 2015 Sierra going on 7 years now, and while vehicle prices aren't very attractive, it does cross my mind. I'm at 93,000 miles, meticulously maintained, and have had very little problems.

My only concern is that 3-4 years from now, there will be much less value or demand for a 10 year old truck with say 130k miles as opposed to current condition. Other than that, I have no real itch to get into something newer.

If it ain't broke don't fix/trade it. Everyones mileage may vary but thats my general tack.

beetle · December 30, 2022

Probably never, nothing out there appeals to me. I don't need 8 cameras, a laptop for a dash and all that other BS, they're just a distraction that drives the cost up. Still love my '14 SLT since new, other than a few nickel and dime issues it's been a very good truck, besides it only has 63K miles.

diyer2 · December 30, 2022

I'm with you Beetle, my 12 has 73K on it and no desire to replace it.

mikeyk101 · December 30, 2022

2 hours ago, beetle said:

Probably never, nothing out there appeals to me. I don't need 8 cameras, a laptop for a dash and all that other BS, they're just a distraction that drives the cost up. Still love my '14 SLT since new, other than a few nickel and dime issues it's been a very good truck, besides it only has 63K miles.

Besides driving costs up, it's just another thing to break down and the more complex, the more it's going to cost to fix.

I have contemplated moving to a 2500 for a better towing performance with my toy hauler. But I don't tow it enough and the times I have, it has done just fine. The lack of monthly payments also makes it less desirable to do the upgrade.

steelerdude15 · December 31, 2022

I plan on keeping my truck for as long as I can.

tbarn · December 31, 2022

Maybe when the lots are overflowing and there are huge rebates.

Joe98 · December 31, 2022

Hello Everyone, I had the pleasure of owning a 2018 Sierra 1500 Denali Ultimate with the 6.2 engine for just over 2 years. Absolutely the best vehicle I’ve ever owned. I’m in Canada, and the fuel prices got stupid crazy about 1.5 years ago so I ended up selling the truck. I now regret that decision every day. If you’re truck isn’t giving you any serious problems or issue’s….Keep it. Up here a new fully loaded out Denali or AT4 lists for over $100 grand easily . It’s insane…….

silveradosid · December 31, 2022

200 k miles and it is gone, my 2014 was at 189 k and other than the modes i did the only thing was a driveshaft and a rad. even the a/c still worked, but because of the stupid gas prices i got a used 2020 rst that they were asking 56 thousand for. as gas kept increasing the price kept dropping, when they agreed at 45 i bought the truck. my son still drives my 2014

royalkangaroo · December 31, 2022

11 hours ago, tbarn said:

Maybe when the lots are overflowing and there are huge rebates.

Funny you say that - I received $10,000 off the sticker price when I purchased mine new in 2016.

Now they advertise $500 cash back on a $60,000+ truck like it's some steal of a deal.

diyer2 · December 31, 2022

PT Barnum "There's a sucker born every minute"

My quote " There's an idiot born every 2 minutes"

newdude · December 31, 2022

23 hours ago, royalkangaroo said:

Just curious for those who have owned their trucks for a while, what are your thoughts on upgrading?

I've had my 2015 Sierra going on 7 years now, and while vehicle prices aren't very attractive, it does cross my mind. I'm at 93,000 miles, meticulously maintained, and have had very little problems.

My only concern is that 3-4 years from now, there will be much less value or demand for a 10 year old truck with say 130k miles as opposed to current condition. Other than that, I have no real itch to get into something newer.

If 3-4 years from now it looks as it does in this picture, it would still do good value wise. Not pre 100k mi good, but still should do much better than anything in worse condition than yours.

IMO, interest rates are high right now, the used car market appears to be at the tipping point, and loan delinquency is on the rise. The double edged part of this is that used trade values are still strong, not as strong as say the last year, but are still strong.

Equivalent to yours right now 2023 GMC V8 double cab X31, its a $59,000-$60,000 truck MSRP, before any sort of rebates or if you get supplier on it. I bet yours stickered for probably around $42,000, give or take $1,000? So that's near a $20,000 price hike in 7-8 years. 2-4 year old trucks are going for a lot still as well.

Edited December 31, 2022 by newdude