Good Sam Club Open Roads Forum: The price of new trucks is beyond comprehension!
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 > The price of new trucks is beyond comprehension!

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4x4ord

Alberta

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Posted: 10/15/20 09:16am Link  |  Quote  |  Print  |  Notify Moderator

I think it costs me about $6000 per year to keep my truck relatively new. Part of that 6000 per year goes toward building some equity. So if I keep throwing $6k toward a truck every year in 10 years from now I might have a $95000 vehicle in my garage. If on the other hand I were to sell my current truck for 65k and buy a $15000 beater I could start an investment fund with $50k. If my $15000 beater happened to provide excellent service for 10 years and I was able to add $5k to my investment every year I could expect in 10 years to have a $5000 truck in the garage and $147,000 in my investment. (Assuming a 5% return on investment) So whether I drive a beater or a new truck for the next 10 years is not going to make much difference to my retirement. However, for someone in his 20s or 30s the math would become hugely different.


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BurbMan

Islip, Long Island

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Posted: 10/15/20 09:55am Link  |  Quote  |  Print  |  Notify Moderator

I just bought the truck in my sig this May for $37k with 81k miles on it. When it was new, the sticker on it was $63k. If you build/price a 2020 with the same features it's $70k.

Our 2500 Burb LT stickered at $46k when it was new in 2001, I bought it with <10 miles on the clock for $40k, kept it for 19 years and 185k miles. Saw a new Escalade EXT in our travels on the showroom floor at our local Cadillac/GMC dealer with a window sticker showing $102k. Who spends that for a GM SUV?


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time2roll

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Posted: 10/15/20 09:55am Link  |  Quote  |  Print  |  Notify Moderator

If you keep the vehicle twice as long as the loan you should be fine.


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ShinerBock

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Posted: 10/15/20 10:13am Link  |  Quote  |  Print  |  Notify Moderator

mkirsch wrote:

If everybody followed that advice and bought used, there would be no used cars to buy.

SOMEONE has to buy new vehicles so that there are used ones. Millionaires are only a tiny fraction of the population so if you're waiting for their discards, you'll be waiting a long long time.


Exactly! Expensive vehicles are a prime example of trickle down economics in both resale values and technology. Someone has to buy them in order for them to be less expensive for everyone else, and if the those people don't buy them then it won't exist. Research and developing new technology costs money, and if there were not people who paid these high prices for this new tech then it would never eventually become attainable to everyone else overtime. Hence the reason why luxury options of vehicles 10 years ago are standard today.

Tesla is actually a prime example of this as well. They needed wealthy investors and people to buy their vehicles at the beginning in order to have enough money to build the factories so their vehicles will cost less with mass production. Without those wealthy buyers and investors, other people would not be able to afford a Tesla and many of those factory workers would not have jobs.

4x4ord

Alberta

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Posted: 10/15/20 05:09pm Link  |  Quote  |  Print  |  Notify Moderator

time2roll wrote:

If you keep the vehicle twice as long as the loan you should be fine.


I think if you do a little figuring you'll come to realize it's not going to make as much difference as what you might be thinking. No matter how you slice it if you buy an new vehicle today and another new vehicle 10 years from today it's going to cost you fairly similar dollars to buying a new vehicle today ..... trade it in 5 years and then trade again in 10 years.

time2roll

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Posted: 10/15/20 05:19pm Link  |  Quote  |  Print  |  Notify Moderator

If you buy a new vehicle today and you buy a new vehicle in 10 years you are set for 20 years. If you trade every 5 years you will have 4 new trucks in the same time frame.

I really think the first five years depreciation will be more than the second five years. And I think many are actually getting six, even seven year loans and if that is the case we are looking more in the 12 to 14 year trade in as far as I am concerned.

Read plenty of stories posted about trading in at 3 to 5 years over and over and I don't know how they do it except they must pull down more cash.

4x4ord

Alberta

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Posted: 10/15/20 05:47pm Link  |  Quote  |  Print  |  Notify Moderator

time2roll wrote:

If you buy a new vehicle today and you buy a new vehicle in 10 years you are set for 20 years. If you trade every 5 years you will have 4 new trucks in the same time frame.

I really think the first five years depreciation will be more than the second five years. And I think many are actually getting six, even seven year loans and if that is the case we are looking more in the 12 to 14 year trade in as far as I am concerned.

Read plenty of stories posted about trading in at 3 to 5 years over and over and I don't know how they do it except they must pull down more cash.


At the end of 20 years you have a ten year old vehicle one way vs a 5 year old the other. You need to make sure you start and stop your two scenarios at equal points .... so if you want to take it to 20 years then the best is end with a new truck in the garage at the end of 20 years... But why not just take it to 10 years ending with a new truck in the garage in both scenarios?

Dadoffourgirls

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Posted: 10/16/20 05:03am Link  |  Quote  |  Print  |  Notify Moderator

I think it all depends. I buy on the deals. I have done very well. My 2011 2500HD CC sold 4 years later for $3000 less than I paid. I got more for my CTS after a year than what I paid. I got $1600 more for my 2017 Malibu in June than I paid for it new. And if I wanted, I could have sold my Bolt EV in August for more than I paid. I do appreciate those that buy new vehicles.


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Stclairm

Fuquay-Varina, NC

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Posted: 10/16/20 06:21am Link  |  Quote  |  Print  |  Notify Moderator

Tell me about it! Looking at two right now, both are in the mid 40's and are 1500 series that aren't loaded up versions. Back in 2013, I bought a new F150 XLT crew cab 4x4 long bed 3.5 EB max tow and was choking about paying $38k.

ShinerBock

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Posted: 10/16/20 07:33am Link  |  Quote  |  Print  |  Notify Moderator

Dadoffourgirls wrote:

I think it all depends. I buy on the deals. I have done very well. My 2011 2500HD CC sold 4 years later for $3000 less than I paid. I got more for my CTS after a year than what I paid. I got $1600 more for my 2017 Malibu in June than I paid for it new. And if I wanted, I could have sold my Bolt EV in August for more than I paid. I do appreciate those that buy new vehicles.


Yeah, but not everyone gets GM employee pricing either. Not chastising either. I think it is great that you have that available to you. I can get Ford employee pricing as well and I used it when I bought my old F150, but they didn't make a truck in the HD/SD class that I would like to own when I bought my Ram.

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