Used 07' Nbs

[UWMad]

Looking at an 07' LT2 NBS with 6k miles on it. They're asking $26,900. Is there a rule on how much off KBB it should be so that it makes sense to buy used or go new? KBB says it is worth about $36,000 if found on dealer lot. Now, if I go new, I can do the 0%. Thanks for any help any of you can give.

Also, what are some of you getting or seeing with used car interest rates?

[rogerf]

Looking at an 07' LT2 NBS with 6k miles on it. They're asking $26,900. Is there a rule on how much off KBB it should be so that it makes sense to buy used or go new? KBB says it is worth about $36,000 if found on dealer lot. Now, if I go new, I can do the 0%. Thanks for any help any of you can give.

Also, what are some of you getting or seeing with used car interest rates?

A better starting place would be Chevy.com and pricing an identical truck rather than relying on the backward KBB-based used car dealer double-talk. Take the internet price, minus current cash-back incentives, minus some dealer discount, minus 0% interest savings, minus any GM credit card funny-money points savings. If it were me, wouldn't pay more than 90% of whatever this figure computes to be for anything used (which is a stretch).

 

There is significant dealer margin built into the new truck price, even the little dealer that sold mine knocked off @ $1500 without any arm twisting. The available 0% may also be worth several thousand $ in interest savings if you are financing a larger balance over several years. You need to looks at all these costs.

[Zembonez]

Looking at an 07' LT2 NBS with 6k miles on it. They're asking $26,900. Is there a rule on how much off KBB it should be so that it makes sense to buy used or go new? KBB says it is worth about $36,000 if found on dealer lot. Now, if I go new, I can do the 0%. Thanks for any help any of you can give.

Also, what are some of you getting or seeing with used car interest rates?

I got $5600.00 off the price of mine new. Real deals can be had. Another big thing to consider is WHY is there an 07 with 6K for sale USED? There is a good reason somebody isn't driving it anymore. Was it wrecked? Was it a lemon? I would sure proceed with caution.

[Paul58]

The saving you'll see with just the 0% financing may be enough to off-set any difference. Most used rates are anywhere from 7% on up! Add to that the current incentives and the fact most places are selling for under invoice right now to clear the 07's off the lot, you could probably get more truck for your money going new. Depending on what the dealership gave the previous owner for the used one, they may not have as much room to maneuver on it as they do on a new one.

 

A good way to see if to build the exact truck as the used one, find the invoice price, subtract about $200 from that, then subtract all the rebates. Then take the asking price of the used one and plug that number into an amortization calculator on the web, with whatever used car interest rate you can get, and see which will cost you more at the end of the loan! Remember, at 0% the selling price is the same as the final cost at the end of the loan, at 7% the final cost will be several thousand higher!

[2004GMC1500CC]

Looking at an 07' LT2 NBS with 6k miles on it. They're asking $26,900. Is there a rule on how much off KBB it should be so that it makes sense to buy used or go new? KBB says it is worth about $36,000 if found on dealer lot. Now, if I go new, I can do the 0%. Thanks for any help any of you can give.

Also, what are some of you getting or seeing with used car interest rates?

I got $5600.00 off the price of mine new. Real deals can be had. Another big thing to consider is WHY is there an 07 with 6K for sale USED? There is a good reason somebody isn't driving it anymore. Was it wrecked? Was it a lemon? I would sure proceed with caution.

 

 

 

Lots of legit reasons too, not a truck person, couldn't handle the payments, lost a job, bad gas mileage...

[UWMad]

Thanks guys. I plan to break it down more and see what is the better deal.

Problem is...it's Carmax...which doesn't haggle. I've been trying to get a new one , but to get what I want...it's costing me about $50/month more than I want to spend. This way, I can get what I want, at a price I can afford, but with 6,000 miles already. I'm also worried that the incentives on the new ones might get better in Oct...truck month? And, I hate the fact that I will be paying interest. My last 2 vehicles were at 0%.

Then, there is the fact that the truck depreciates so fast and everyone I have talked to say they will never buy a new vehicle again because of this.

[Zembonez]

Looking at an 07' LT2 NBS with 6k miles on it. They're asking $26,900. Is there a rule on how much off KBB it should be so that it makes sense to buy used or go new? KBB says it is worth about $36,000 if found on dealer lot. Now, if I go new, I can do the 0%. Thanks for any help any of you can give.

Also, what are some of you getting or seeing with used car interest rates?

I got $5600.00 off the price of mine new. Real deals can be had. Another big thing to consider is WHY is there an 07 with 6K for sale USED? There is a good reason somebody isn't driving it anymore. Was it wrecked? Was it a lemon? I would sure proceed with caution.

 

 

 

Lots of legit reasons too, not a truck person, couldn't handle the payments, lost a job, bad gas mileage...

 

Those could be true also. It is however a very good reason to check it out.

[99silverado1500]

My father had a 06 GMC 1500 for 3 weeks, didnt tow our 7000 lb trailer without gettting 7 mpg and wouldnt get out of its own way towing, so we bought a diesel 2500HD after that, truck had 600 miles trading in, just an example of not really a problem, just needing something else like most trades.

[jcs113]

I got $5600.00 off the price of mine new. Real deals can be had. Another big thing to consider is WHY is there an 07 with 6K for sale USED? There is a good reason somebody isn't driving it anymore. Was it wrecked? Was it a lemon? I would sure proceed with caution.

 

 

Lots of legit reasons too, not a truck person, couldn't handle the payments, lost a job, bad gas mileage...

 

Those could be true also. It is however a very good reason to check it out.

 

 

I purchased my 06 last summer as a "demo" which meant that a dealer employee drove it around a little. It had 1800 miles on it. That's new to me. It basically came down to: (1) buy the truck with more options and 1800 miles, or (2) buy a truck with 9 miles and little to no options for the same price. They both financed as new, so I obviously chose the "demo" that was fully loaded (for a 1LT, which was my preference). I too financed 0%. For being 18 at the time I felt pretty good about my [depreciating] investment... Maybe you can find a new '07 in a similar situation and get yourself a respectable deal.

 

However, this spring (about 9 months after purchasing my truck) I saw many 06 silverados on the used lot of a GMC dealer. I began talking with a salesman and I asked him why there were so many fairly new pickups with low miles on their used lot. He pretty much told me that they get a lot of customers who just simply need to have the "latest and greatest", and once their model is outdated they prefer to get the new one, regardless of the hit their pocketbook takes.

[UWMad]

So, how much is 6k miles worth? I went throught the calculators and found that after 60 months...a new 07' will cost $3000 more at 0%. Is 6k miles on a used one worth $3000 or should the used truck be cheaper than what they are asking for it?

[Paul58]

At 6000 miles, it's still breaking in! If you can get more options on the used truck, and it ends up costing less at the end of the loan, then it sounds like you just answered your own question! I say go for it! I bought a 03 Ford Exploder that was a Demo, it had 5800 miles on, and never gave me a lick of trouble while I owned it!

[BigJayDogg3]

03 Ford Exploder

 

It took me a minute, but I got it.

[Zembonez]

So, how much is 6k miles worth? I went throught the calculators and found that after 60 months...a new 07' will cost $3000 more at 0%. Is 6k miles on a used one worth $3000 or should the used truck be cheaper than what they are asking for it?

Carmax.

 

The MAX is for the maximum amount of money they charge for their stuff for sale.

[2004GMC1500CC]

So, how much is 6k miles worth? I went throught the calculators and found that after 60 months...a new 07' will cost $3000 more at 0%. Is 6k miles on a used one worth $3000 or should the used truck be cheaper than what they are asking for it?

Carmax.

 

The MAX is for the maximum amount of money they charge for their stuff for sale.

 

and yet they remain strangely popular...