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NYgutterguy 02-26-2018 05:45 PM

New or Nearly new
 
Looking to buy a new truck personal truck. Cant decide if i should buy new or buy one thats 1 year old with very little mileage.(10,000 or less) Looks like wold be a 4- 5k difference at least in price... What say you..

Inner10 02-26-2018 06:05 PM

Paying cash or financing?

NYgutterguy 02-26-2018 06:07 PM

Quote:

Originally Posted by Inner10 (Post 6838146)
Paying cash or financing?



Looking to spend 30 and will put 20k down.


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Inner10 02-26-2018 06:14 PM

Quote:

Originally Posted by NYgutterguy (Post 6838162)
Looking to spend 30 and will put 20k down.


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In that case I'd look into the financing rates for used vs new. If the truck you want is available at 0%; but the used one is going for 6.9% you may be best off to keep the money in your account put nothing down and get the new one.

If there is a significant cash discount you may want to but it flat out and borrow the remaining balance from another source.

If the used financing rate is respectable then go that route.

Bottom line is you need to set your emotion aside, go to a dealership and get the hard numbers then walk your 2bit ass back home and hash it out on the best source of financial advice....ContractorTalk. :laughing:

NYgutterguy 02-26-2018 06:19 PM

I'd never put nothing down. I'm not fond of $600 a month truck payments. This isn't money I have to scrape together. It's getting spent on something. Was gonna redo kitchen but f-it. Like I said tired of driving the work truck.


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Inner10 02-26-2018 06:21 PM

Quote:

Originally Posted by NYgutterguy (Post 6838194)
I'd never put nothing down. I'm not fond of $600 a month truck payments. This isn't money I have to scrape together. It's getting spent on something. Was gonna redo kitchen but f-it. Like I said tired of driving the work truck.


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If you put a dime down on a 0% financing truck I'm going to fly to NY just to slap you across the face.

NYgutterguy 02-26-2018 06:37 PM

Quote:

Originally Posted by Inner10 (Post 6838218)
If you put a dime down on a 0% financing truck I'm going to fly to NY just to slap you across the face.



Not cool with $600 + payment for next 5 years. Don't like much debt with business or personal. I've always kept things simple. I've even put money down on my cube vans back in the day to keep a lower payment.


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Inner10 02-26-2018 06:40 PM

Quote:

Originally Posted by NYgutterguy (Post 6838242)
Not cool with $600 + payment for next 5 years. Don't like much debt with business or personal. I've always kept things simple. I've even put money down on my cube vans back in the day to keep a lower payment.


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Even if the financing rate is low, I agree....but if it's 0% then take that money, put it in an account, and have the payments pulled from that account and throw the bank card in the trash.

hdavis 02-26-2018 07:14 PM

One if the few times I'll agree with Inner on taking on debt if it's 0% financing. Put it in a dedicated account, and pay $200 a month additional into the account until it's paid off. Auto pay to the lein holder.

NYgutterguy 02-26-2018 07:29 PM

Haven't seen any dealers offering 0% advertised around here.


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Stryker1-1 02-26-2018 07:51 PM

Hell I financed my liability insurance because it cost me nothing to go over 12 months vs 1 full payment and that was only 800$

I figure better in my pocket vs theres

What are the interest rates like in your area? If they are say 2% and I know I can make 4% on my money I would finance.

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NYgutterguy 02-26-2018 08:01 PM

Quote:

Originally Posted by Stryker1-1 (Post 6838482)
Hell I financed my liability insurance because it cost me nothing to go over 12 months vs 1 full payment and that was only 800$

I figure better in my pocket vs theres

What are the interest rates like in your area? If they are say 2% and I know I can make 4% on my money I would finance.

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Have to look into it. I'm more of an impulse buyer. This will be first time I actually do any sort of research regarding finances


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Big Johnson 02-26-2018 08:08 PM

1 year olds will be tough to find but 2 year olds are abundant. Standard lease terms are 2 years and up. I got a 2 yo with 9K miles for $14K off sticker.


Pay cash, it feels better driving a truck around that you own not the bank owns.

Leo G 02-26-2018 08:27 PM

Quote:

Originally Posted by NYgutterguy (Post 6838194)
I'd never put nothing down. I'm not fond of $600 a month truck payments. This isn't money I have to scrape together. It's getting spent on something. Was gonna redo kitchen but f-it. Like I said tired of driving the work truck.


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Dude...you're taking money outta my pockets...... :whistling

NYgutterguy 02-26-2018 08:38 PM

Quote:

Originally Posted by Leo G (Post 6838682)
Dude...you're taking money outta my pockets...... :whistling



I'd have to sell half my apple stock to afford you leo lol


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NYgutterguy 02-26-2018 08:39 PM

Quote:

Originally Posted by Big Johnson (Post 6838594)
1 year olds will be tough to find but 2 year olds are abundant. Standard lease terms are 2 years and up. I got a 2 yo with 9K miles for $14K off sticker.


Pay cash, it feels better driving a truck around that you own not the bank owns.



Don't mind a few hundred a month payment. The $600 one gives me anxiety


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KAP 02-26-2018 08:51 PM

Quote:

Originally Posted by NYgutterguy (Post 6838522)
Have to look into it. I'm more of an impulse buyer. This will be first time I actually do any sort of research regarding finances


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Just don't get tricked into thinking it's actually a 0% interest rate... it's usually part of the same gambit... either MFR rebate OR 0% to buy down the rate, not both (all part of the marketing)... but to do that, you don't get the price you would have with cash...

One way to tell the overall cost is if the rebate price and price with with the 0% interest work out the same is to to get the final price of both and it usually works out the be pretty much the same when you'd think 0% would win out...

The rebate or 0% is reimbursed to the dealer by the MFR and part of the same marketing...

Inner10 02-26-2018 08:55 PM

Quote:

Originally Posted by NYgutterguy (Post 6838522)
Have to look into it. I'm more of an impulse buyer. This will be first time I actually do any sort of research regarding finances


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Impulse buyers get fvcked.

I'm more of an impulse buyer aswell...I could write a book on getting fvcked. :laughing:

Quote:

Originally Posted by Big Johnson (Post 6838594)
1 year olds will be tough to find but 2 year olds are abundant. Standard lease terms are 2 years and up. I got a 2 yo with 9K miles for $14K off sticker.


Pay cash, it feels better driving a truck around that you own not the bank owns.

It does, but wiping out your working capital doesn't.

Peter_C 02-26-2018 09:05 PM

These days you can often grab a new vehicle for roughly the same value as a used one. By that I mean you loose say $4,000 the day you drive it off the dealer lot, but at the same time resale value is higher as the vehicle will be a year or two newer.

0% financing is great, but pay attention to the fact that it is often bought down at a cost which comes out of your pocket. Often it is only for two years. Sometimes they offer 5 years. The amount of payment means nothing. 2 years at 0% for my 2nd Suburban meant a $1,200 a month payment. I put $800 down.

Why would you want a pickup truck as a second vehicle? Personally I like to drive a nice sports car going out with friends, shopping, traveling, etc. Mid life crisis vehicle? LOL

Edmunds has invoice pricing along with what people are paying on average.

If negotiating for a vehicle do it all via email. Do not walk into a dealership until you have everything confirmed in writing. Do not give out your phone number. You will be dealing with the internet sales manager and they are the ones that know you are price shopping and can give a rocking deal, usually near invoice. Search inventory of dealerships within 400 miles of home. Send a form email to all of them.

There are also internet stores today, that will deliver the vehicle to you.

Used vehicles are best purchased private party not from a dealership. Craigslist or Carmarts if you have one near you. Ebay is another good place to search. You can log distance from location too. I have flown to pickup vehicles before.

Inner10 02-26-2018 09:11 PM

Peter has a point, why a truck, get something that is better at picking up chicks.

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