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Summit151 · 06-12-2020, 05:28 PM

Well I am looking for some opinions and some input on my current situation.

I have a 2012 pickup that Is approaching 200000km. I wanting to get into a newer truck. I could probably get 20-25K for the truck selling it privately. Dealer quoted me 15-20K for trade in. I also have a company truck that I drive mostly so I only drive my personal truck about 10000-15000km in a year. With most dealers offering 0% financing it is tempting to get a brand new one but I have not had a truck payment for a few years which is nice. So here are some options I am exploring.

Option 1. Sell the truck private. Put the 20k down on a new truck and finance the remaining. Payments would be a lot lower

Option 2. Finance the whole amount of the new truck at 0% interest rate and put that 20K into a low risk investment account and let it build slowly and if I ever need the reserve money for something it is still there.

Option 3. Buy a slightly used truck for 30-35K with cash money by adding some more on top of the 20K from the old vehicle.

I have only bought and sold a few trucks over the years and have never bought a new one so I am wondering what the best route to go is with only driving that amount of KM a year

grindstone01 · 06-12-2020, 06:52 PM

If saving $$ is your priority, then option #3 is the best deal.
We could not find a good deal on a late model used truck, so we went with option #1.
I never have liked the buy now and pay later concept that the finance people seem to push. You never know what the future has in store and I don't want payments affecting my future decisions. (my opinion)

Toby Dog · 06-13-2020, 04:27 AM

The zero percent deals are fading fast and the terms are getting shorter even if you can find one now. I've also noticed that the no interest loans are at full retail in some cases.

mokurt · 06-13-2020, 06:26 AM

Are you selling because of the milage?

Im still driving my 2001 Dodge 2500 Cummins with 176000 miles.
To be honest we did look at new and used trucks but decided they were out of our budget.

grindstone01 · 06-13-2020, 06:46 AM

I sold my 2006 Chevy Dually with 315k miles on it an it still ran/looked good. My reason was we plan to RV for another 10 years and getting a new truck now made sense vs running the 06 10 more years. If you take care of your vehicle they will last a long time, but like anything, time will eventually take it's toll.

Summit151 · 06-13-2020, 08:14 AM

Quote:

Originally Posted by mokurt

Are you selling because of the milage?

Im still driving my 2001 Dodge 2500 Cummins with 176000 miles.
To be honest we did look at new and used trucks but decided they were out of our budget.

Not so much just the mileage. Trucks seem to drop hard in price after 200000km with a gas engine so I was hoping to sell it when it is still in really good shape

Summit151 · 06-13-2020, 10:10 AM

Quote:

Originally Posted by mokurt

Are you selling because of the milage?

Im still driving my 2001 Dodge 2500 Cummins with 176000 miles.
To be honest we did look at new and used trucks but decided they were out of our budget.

Hhhh

Triangle Drifter · 06-21-2020, 07:34 AM

Decisions, decisions, decisions! Mine is a 06 Chevy 3500 2wd dually with 220,000 miles. Many of those miles have been spent pulling a 12,000lb 5er.

It has had an open checkbook when it comes to maintenance which, not including tires or oil at every 3000 miles, has been about $2000 a year. The engine, bone stock, has been flawless. Driving style is not aggressive at all. Maintenance items have been normal wear & tear bushings, brake pads, a couple rotors, a mirror, a window motor & a radiator.

I don't know how many more years we will stay in this RV game but it does not seem to make sense to trade a perfectly good reliable truck. I figure at some point this will be a great truck to be 'put out to pasture' for somebody who wants what might be a 'classic' by then & needs a dually to carry an ego around in. I don't really like the looks of the new trucks anyway.

TIME2CAMP · 06-21-2020, 08:56 AM

IMHO you want you don't need. Is the current truck running well? Any rust? I bought an 04 chevy last year as a TV, about the same mileage and no rust($4200 USD). It has the tow package and a great service history. My logic is that if the engine or trans blows up I am still ahead of buying a newer truck. I put tires, shocks and a tow shift kit in. Very happy with the decision, as my total investment is about 5 grand.
Take your estimated monthly payment and invest that now. Your truck's value now or 50000 KM later won't matter much.