Buying a new Truck

[dodge man]

Keep something in mind when you go to sell your own vehicle. In most states, you pay sales tax on the DIFFERENCE between your trade in and new vehicle. For example, you buy a $30,000 vehicle, they give you trade in of $10,000, you pay sales tax on $20,000. If you sell your vehicle out right, you have to at least make up this difference in sales tax. This is one reason I often trade, even though I know I'm not getting top dollar.

 

[TheGoose]

That's a factor also in the trade. I don't think they're gonna give me what I want.

 

[RollingsFarms]

What was the trade and what did you finance, if any?

I traded my 2004 z71 extended cab, 121,000 miles, front bumper hanging off the front from hitting my 3rd deer and saying the heck with fixing it again. The inside of the truck was clean, so was the outside except for the front bumper. Everyone else offered me around $8000 but he offered me $10500. I financed $26000 at 2.74% through my bank because at the time they had an extra $1000 off if you went through Ally or a credit union.

 

[BigE_]

Pure buying advice: Yes, go on the last day of the month. Better yet, go on the last day of the quarter, or close to it. If it is a Sunday, all the better. Last day of the quarter they are *really* eager to make their quotas or earn their bonus or whatever.

What I don't get is why people must always buy new. Get something that is 2-3 years old, in the 30k mileage range, and you pay less than half of new. Since it is still under factor warranty, you can find a warranty on the internet in the $2k range (half of what the dealer would charge you) that will extend the warranty out to 7 years / 100k miles.

Something else that bugs me - save your pennies and buy outright. It is pure stupidity to take out a loan to purchase a vehicle, even if you "need" it. (That "need" is most likely 99.9% "want", and there is always a cheaper option). I drove a $600 beater Toyota pickup for 4 years while saving to buy my truck. It made that new (to me) truck all that much nicer when I finally got it.

Regarding the leather - definitely get it. It is so much nicer, cleans so much easier, so much more comfortable, and the vehicle holds its value longer.

 

[buckle97]

Dodge does not make a crew cab with a 6.5' bed. Although their extended (quad) cab has doors that open independently of the front doors and appears to many to be a crew cab with a 6.5' bed, it is not.

 

[WilliamBos]

Pure buying advice: Yes, go on the last day of the month. Better yet, go on the last day of the quarter, or close to it. If it is a Sunday, all the better. Last day of the quarter they are *really* eager to make their quotas or earn their bonus or whatever.

What I don't get is why people must always buy new. Get something that is 2-3 years old, in the 30k mileage range, and you pay less than half of new. Since it is still under factor warranty, you can find a warranty on the internet in the $2k range (half of what the dealer would charge you) that will extend the warranty out to 7 years / 100k miles.q

Something else that bugs me - save your pennies and buy outright. It is pure stupidity to take out a loan to purchase a vehicle, even if you "need" it. (That "need" is most likely 99.9% "want", and there is always a cheaper option). I drove a $600 beater Toyota pickup for 4 years while saving to buy my truck. It made that new (to me) truck all that much nicer when I finally got it.

Regarding the leather - definitely get it. It is so much nicer, cleans so much easier, so much more comfortable, and the vehicle holds its value longer.

Not every one is as well off or fortunate as you. But if you can save $45,000 in four years, then all the power to you! I would love to be able to pay cash for a new truck, hate making banks richer!

 

[BigE_]

Not every one is as well off or fortunate as you. But if you can save $45,000 in four years, then all the power to you! I would love to be able to pay cash for a new truck, hate making banks richer!

You missed the first part about not buying new.

The point is that you should buy what you can afford, not what you want.

My philosophy is that if you can't pay cash, you can't afford it. That's the same philosophy I had when I was making $3 an hour, part time. Living below the poverty level, you really start learning the difference between want and need.

I paid my way through college by working full time at the same time, and trust me, it wasn't easy, but you do what you have to do if you don't want debt, eating rice and beans, beans and rice (except when you can't afford the rice).

If people bought what they could afford and not what they just wanted, our nation would be in a much better place today.

I do make an exception for house loans simply because the cost of a house has been inflated way above the average inflation rate to the point where you could never afford to pay cash, unless you made really good money.

Keeping the above philosophy, I've never been in debt (other than house loans), and I expect to have my house paid off in the next couple of years.

I'll get off my high horse now and shut up about the subject. I know people won't change their ways, but maybe they'll think twice next time.

 

[RollingsFarms]

you have to be responsible when it comes to financing something. if you're the type that trades vehicles every 3 years then it doesn't matter if you pay cash or finance, you'll end up losing money anyways. I don't mind financing a new vehicle, or a tractor for that matter, because I know i keep vehicles for minimum of 7 years(longer if i'm not having problems with them). tractors I keep for a loooong time. I don't finance toys though. I paid cash for a gas golf cart, cash for a used 4 wheeler, cash for my commercial z-turn. it's hard to walk-in and pay cash for a vehicle these days when most cost upwards of $30,000 and MORE. as for the used market, sure you can find a good used truck or car with the depreciation knocked off BUT they won't wheel and deal on them like they will a new car. trust me, i know, i tried for months. i couldn't see paying the SAME price for a 4 year old truck when a brand new one was only $3,000 more. the used one had minimal options and the new one was LOADED. didn't make much sense to me. try to finance a used vehicle too and see what rates you get compared to a new one. with all the rebates and stuff its almost impossible to buy used these days when new is a better deal. like you said, you have to buy a warranty for 2k(which makes the difference between new and used even closer) and 9 times out of 10 most shops wont honor those internet warranties.

 

[BigE_]

I guess I've just been lucky in finding places that will negotiate. Private parties are your best bet, and then small used car dealers. Don't go for the dealer that has the most trucks on the lot.

I generally pay about 10% under what KBB.com has for private party value, no matter if it is a dealer or private party. And, I'm buying vehicles where the previous owner had to have new every 2-3 years.

So far my best negotiation has been sticker price of $23,800 (down from $25k) and I walked out paying $16,500, all inclusive. Got a warranty online for $1,400, so $17,900 total out of pocket. (Dealer wanted $3k for the warranty). Fully loaded with 30k miles on it, 30 months old. New price was over $32k. It took over 3 hours of negotiating, but hey, I basically paid myself $2k per hour.

I got over $6k of work done at the local Chevy dealer under warranty, so well worth the investment in the warranty. If it was a Toyota, I probably wouldn't had gotten the warranty.

 

[Dmace]

The RAM comes in a QuadCab (4 real doors but smaller rears) with a 6.5ft bed but only has a 5.5ft bed in the Crew Cab (4 full size doors). The difference in rear space is 6" of leg room and 9 cu.ft. total volume. Never had a problem with kids or adults in the rear of my Quad Cab RAM. The "small" doors can be heavy for kids to open/close, I can't imagine full size doors like the Crew Cabs.

As for purchasing, I find the best deals on new models are around Presidents Day (Feb) and if you want a non-current model you can get a current model year truck in Fall for good deals when the next model years come out. Example: Buy a 2012 model year in Fall when the 2013 models are coming out. The RAM is getting major upgrades for the 2013 model year so 2012's in Fall will be much cheaper.