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 > The price of new trucks is beyond comprehension!

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BobsYourUncle

Calgary Alberta Canada

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Posted: 11/14/20 09:28pm Link  |  Quote  |  Print  |  Notify Moderator

Crespro wrote:

Hello,

Interesting thread. I have taught Dave Ramsey FPU for ten years. He has good advice on personal finances.

Interesting you mention teaching Dave Ramsey FPU. I used to listen with great fascination to his spot on Siruis years ago. Channel 151? I forget now. I learned a lot, even though I didnt always agree with some concepts, he had the credentials, so I knew he was right and I was wrong. Wonderful teacher!
And he was very much against leasing a vehicle.

Now, do you remember what he called a lease?


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4x4ord

Alberta

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Posted: 11/15/20 04:33am Link  |  Quote  |  Print  |  Notify Moderator

SDcampowneroperator wrote:



Resisting the bug for new comes down to need, or reliability. Needs change, reliability is relative. Where once upon a time a truck with as low as 80k was done ( circa 1960s) , we now can depend on 250 - 400k mi. even more with dependability. Shouldnt that be that a factor in your decision to keep, trade or sell?


If a truck is looked after it could easily last 300,000 miles or 20 years but at the end of that period it is not worth much anymore and buying a new replacement feels like quite a blow. If I had waited till now to replace my 03 Duramax I’d be dishing out 75k difference to own a new truck today. Instead I dished out 35k difference in 2011; 25k difference in 2016; 14k in 2017 and now I expect to have to cough up another 25k to be into a new truck again. So instead of spending 75k replacing my truck once in 17 years it will cost me 99k. My cost of tires, maintenance and repairs over that 17 years was minimal which may have saved me a few hundred dollars per year, so after all, trading may have cost me $1000 per year more than it would have had I kept my 03 till now.

* This post was edited 11/15/20 06:58am by 4x4ord *


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Lantley

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Posted: 11/15/20 07:41am Link  |  Quote  |  Print  |  Notify Moderator

4x4ord wrote:

SDcampowneroperator wrote:



Resisting the bug for new comes down to need, or reliability. Needs change, reliability is relative. Where once upon a time a truck with as low as 80k was done ( circa 1960s) , we now can depend on 250 - 400k mi. even more with dependability. Shouldnt that be that a factor in your decision to keep, trade or sell?


If a truck is looked after it could easily last 300,000 miles or 20 years but at the end of that period it is not worth much anymore and buying a new replacement feels like quite a blow. If I had waited till now to replace my 03 Duramax I’d be dishing out 75k difference to own a new truck today. Instead I dished out 35k difference in 2011; 25k difference in 2016; 14k in 2017 and now I expect to have to cough up another 25k to be into a new truck again. So instead of spending 75k replacing my truck once in 17 years it will cost me 99k. My cost of tires, maintenance and repairs over that 17 years was minimal which may have saved me a few hundred dollars per year, so after all, trading may have cost me $1000 per year more than it would have had I kept my 03 till now.

I like your analysis a really interesting way to look at it.
However I don't see 17K as being negligible. 17K is still a lot of money. Sure you can rationalize it as only 1000/year I get it.
But $17K is a substantial amount.
While I do enjoy a new truck. I'm a keep it until 300K kind of guy.
I can't see trading in a 3 year old truck that has been barely used to go new. The 3 year old truck has way to much life and value in it to walk away from. The wow/performance/glamour factor between brand new and 3 years old isn't very much.
When I traded in my 07 Duramax with 300K on it to buy my 2019 Duramax there was plenty of newness to celebrate!! LOL [emoticon]


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colliehauler

Mc Pherson KS USA

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Posted: 11/15/20 08:02am Link  |  Quote  |  Print  |  Notify Moderator

Lantley I agree with you 20 years or 300k miles. I put my truck money into investments instead of depreciating assets.

Lantley- 4x4's example would be more then a 17k difference if you figure the return on interest on all the funds spent. In my case 100k returns more then enough money to cover any repairs with a considerable amount left over. Then you have to figure sales tax on all those vehicles (here sales tax is 9.25 percent). Higher insurance rates. Here we have personal property tax each year which is higher the newer the vehicle with maximum devaluation after ten years.

My sister trades every couple of years, her last GMC Canyon had 15k miles when traded. At her age why not they have worked a lifetime and have the funds to do so.

Now if I had a business that I could write the expense of the truck off then I would take advantage and always drive new.

* This post was edited 11/15/20 08:15am by colliehauler *

4x4ord

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Posted: 11/15/20 09:14am Link  |  Quote  |  Print  |  Notify Moderator

^^^^ I agree with you fellas that buying a new truck every few years is not wise if you’re wanting to save money. I think if I was wanting to save money I wouldn’t buy new in the first place. I would find an old well looked after truck and run it for 5 or 6 years, sell it and do it again.

blofgren

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Posted: 11/15/20 09:46am Link  |  Quote  |  Print  |  Notify Moderator

4x4ord wrote:

blofgren wrote:

4x4ord wrote:

The top of the line trim package is something I find fairly easy to justify. I’m looking at pricing on a new Ram and struggle with paying $2500 to upgrade from the regular Cummins to the high output. Then they want $1500 for adding air ride.


I'm surprised to hear that the HO Cummins is that much more. Does that include the Aisin transmission?

A buddy of mine just bought a 2020 Ram 3500 Megacab Limited with Aisin and air ride; listed at $102k and I believe he got it for around $80k. I wanted to kiss my 2013 after hearing that! [emoticon]


Yep that includes the Aisin. It is based on the Canadian price list. The regular Cummins/68rfe is a $9500 option and the Aisin HO Cummins is an additional $2500. I think it would be very seldom that I would even notice the additional power. Seems like most of the high end trucks on the lots are ordered in with the HO.


So what is the total price you being quoted?


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blofgren

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Posted: 11/15/20 09:48am Link  |  Quote  |  Print  |  Notify Moderator

colliehauler wrote:

Lantley I agree with you 20 years or 300k miles. I put my truck money into investments instead of depreciating assets.

Lantley- 4x4's example would be more then a 17k difference if you figure the return on interest on all the funds spent. In my case 100k returns more then enough money to cover any repairs with a considerable amount left over. Then you have to figure sales tax on all those vehicles (here sales tax is 9.25 percent). Higher insurance rates. Here we have personal property tax each year which is higher the newer the vehicle with maximum devaluation after ten years.

My sister trades every couple of years, her last GMC Canyon had 15k miles when traded. At her age why not they have worked a lifetime and have the funds to do so.

Now if I had a business that I could write the expense of the truck off then I would take advantage and always drive new.


The 12% sales tax here in BC throws a major wrench into this plan as well. I used to trade my trucks every few years as well but I'm now approaching the age where I'm starting to concentrate more on retirement preparation and that includes keeping vehicles for much longer.

Grit dog

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Posted: 11/15/20 10:13am Link  |  Quote  |  Print  |  Notify Moderator

4x4ord wrote:

^^^^ I agree with you fellas that buying a new truck every few years is not wise if you’re wanting to save money. I think if I was wanting to save money I wouldn’t buy new in the first place. I would find an old well looked after truck and run it for 5 or 6 years, sell it and do it again.


You n Lantley are both correct imo.
And especially the buying new part you mentioned. Also where and when you buy is a consideration for cost.....if you’re ultimately out to save the most money or most bang for your buck.


"Yes Sir, Oct 10 1888, Those poor school children froze to death in their tracks. They did not even find them until Spring. Especially hard hit were the ones who had to trek uphill to school both ways, with no shoes." -Bert A.

samhain7

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Posted: 11/19/20 06:30am Link  |  Quote  |  Print  |  Notify Moderator

Funny. I went from buying new to recently buying used
Got a 16 for 40,000 less than the guy who bought it new.
That said, I did see 2020 Ram 2500 fully loaded for $102,000!!!


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4x4ord

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Posted: 11/19/20 08:09am Link  |  Quote  |  Print  |  Notify Moderator

^^^^ Wow. That would put a 2016 loaded up diesel Ram Laramie Limited at about 30k now. That sounds like quite a buy. Or did the first buyer pay way too much?

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