Sticker shock....!!!

[RollingsFarms]

If I can't put at least 50% down on a truck or a piece of equipment, I won't buy it...Generally I prefer to pay cash where possible...I don't have a problem with short term financing something where I'm in decent shape on the purchase.. I don't chase payments, I chase the final purchase price. People who talk about how the dealer made the payment work crack me up...They got nailed. FYI--Don't ever tell a car dealer you're paying cash, you'll end up paying more for the vehicle. Finance it and pay it off when your first payment is due...It's that whole dealer reserve thing.

Between my rebates and what I got for trade-in I already had 50% down on my new truck. I thought about adding some to that but figured I'd keep my money for other things. I'm a rare case though because even though I finance some things, I'm the type of guy a bank hates because I'll double up payments. Even though my loan is for 60 months my truck will be paid off in 33.

 

[RollingsFarms]

Car dealerships and salespeople LOVE the sheep (oops, customers) who tell them "I can afford a payment of (fill in the blank) a month...you can bet they will twist the numbers around and do everything they can to make your payment affordable...to THEM. My ex told me about the time she purchased a Cutlass "all by herself" and she told the salesman her dad worked for GM so she wanted the GM discount...and she could afford a payment of (fill in the blank) a month...well, the gave her the GM discount, but they loaded up the selling price with all the overpriced add-ons like rustproofing, paint protection, extended warranty, and the REAL scam...fabric protection for the LEATHER seats...:laughing: and told her, well, we managed to get your payment figure in line of what you wanted. She was clueless as to what dealer cost actually was, although it would have been easy to learn. It amazes me sometimes how naive car buyers are...

I read everything. I don't care if it takes me an hour to read all the figures and fine print. I sign nothing until I've read it all. My friend who I buy my Chevy trucks from knows I'm this way and he will hand me all the papers with the numbers to read and he will go do something else while I sit there and go over it number by number and letter by letter. Other salesman I've done this with have tried to rush me and they'll squirm in their chair but I don't get rushed. I just tell them "I don't trust you, sorry".

 

[timswi]

Between my rebates and what I got for trade-in I already had 50% down on my new truck. I thought about adding some to that but figured I'd keep my money for other things. I'm a rare case though because even though I finance some things, I'm the type of guy a bank hates because I'll double up payments. Even though my loan is for 60 months my truck will be paid off in 33.

50% is 50% no matter how you got there..You had to be in a good place on the trade, right?

 

[RollingsFarms]

50% is 50% no matter how you got there..You had to be in a good place on the trade, right?

Oh yeah I was excellent on my trade. Got exactly what I wanted for it and they had it sold before I signed the papers to my Silverado. They rinsed it off and made a quick $3000. I was happy and they were happy and the guy who bought it was apparently happy because he jumped all over it. Only reason I got rid of my Tacoma was it was slightly too small for farm work but it held it's own just fine. The resale value on those things is unbelievable.

 

[timswi]

Oh yeah I was excellent on my trade. Got exactly what I wanted for it and they had it sold before I signed the papers to my Silverado. They rinsed it off and made a quick $3000. I was happy and they were happy and the guy who bought it was apparently happy because he jumped all over it. Only reason I got rid of my Tacoma was it was slightly too small for farm work but it held it's own just fine. The resale value on those things is unbelievable.

Everyone is happy..That's how it's supposed to work. My last 3 truck purchases from new car dealers have all gone as yours did, I walked away with no buyers remorse and was happy (as I could be anyway) with the whole process..

Prior to that I was in the high mileage used market..Whole different ball game there.

 

[RollingsFarms]

Everyone is happy..That's how it's supposed to work. My last 3 truck purchases from new car dealers have all gone as yours did, I walked away with no buyers remorse and was happy (as I could be anyway) with the whole process.. Prior to that I was in the high mileage used market..Whole different ball game there.

I got out of the used car buying market when I realized they didn't want to deal on a used vehicle with high miles, but they'd deal on a brand new one with 0 miles and a warranty. It had to be an absolute steal for me to ever consider buying a used car or truck anymore.

 

[timswi]

I got out of the used car buying market when I realized they didn't want to deal on a used vehicle with high miles, but they'd deal on a brand new one with 0 miles and a warranty. It had to be an absolute steal for me to ever consider buying a used car or truck anymore.

Since circa 2008/2009 you are absolutely right...Buying new tends to make more sense in many cases..The used market has been somewhat distorted since the cash for clunkers thing and hasn't really normalized...Great for those of us that buy new, not so much for those who can't.

 

[RollingsFarms]

Since circa 2008/2009 you are absolutely right...Buying new tends to make more sense in many cases..The used market has been somewhat distorted since the cash for clunkers thing and hasn't really normalized...Great for those of us that buy new, not so much for those who can't.

Exactly. The used market on other things isn't near as overpriced as vehicles are. I can find deals on anything, you name it, except a good used vehicle. Oh there's plenty of nice used vehicles out there, some nice inflated prices with them too. Even the values of used trucks have gone up a lot with the demand for trucks. The days of finding that used car or truck for $500-2500 and driving it a few years are over. Nowadays I'm seeing those prices on cars that don't even run and should be headed for the junkyard instead of trying to sell it.

 

[KenB2920]

Well, with all this talk of sticker shock, I again have 2 daily drivers 09 GMC 2500HD diesel and sticker was 53k. I bought it new and it is paid for. My wife has 06 Pontiac G6 GT and the car is alot of fun and runs like a top.

I guess I also have an 86' ford f350 diesel stake truck (not currently running) batteries or something.

Yesterday I threw caution to the wind as I always play by the rules. 15 year mortgage, always pay extra on loans and pay them off early, 0% financing when applicable.

We went out and bought her a new Explorer Sport fully loaded. It has every single option possible on a sport. I figure, rules rules rules, I always play by them. She was in the market for a new car and I figure if she has it for 8 years again, why not pay an extra few dollars and get it loaded. We've never had more than one car payment so I think its ok to spend a little more on one payment..... Oh well.

After the deal was settled, I asked the salesman (which I know from drinking pops with) how much I could get for the G6). I have him make model miles etc and his used car guy said 5k easy without seeing it. I almost fell over. I figured they would offer 3. Dealer said its actually tough to find cars in this range. Run great around 100k, economical yet optioned out. I'd keep her but I like bigger vehicles regardless of gas prices.

Needless to say, this car will be up for sale soon. It's a fantastic car and has served is well.

 

[fordmantpw]

Congrats! Love the Explorer Sports. That 3.5L EcoBoost should be a blast in her. Maybe you can talk the wife into letting you drive once in a while!