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Old 01-22-2022, 09:03 PM   #1
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What an upside down world!

About a year ago I upgraded my tow vehicle to a 2021 Silverado 2500 HD Custom, crew cab, long bed, 4x4, with the plan of upgrading our TT when the wife retires in a couple years.

Ordered it new from factory with 2-3 mo. wait. Due to the timing of order (Sept.20) and/or poor communication from the sales rep. I was not completely informed of all the options avail. (long story) so I realized later that I would have liked to have more options.

Looking at the current market, I decided to see what kind of deal I could make on a trade in.
I went to the same dealer and ended up trading in my 2021, with 10K mi, for the same truck only with about 4k worth of upgrades in options (loaded now).
I paid MSRP off the online build site, with everything I wanted, almost all the options, and the dealer swapped me straight up for my truck with 10K mi, just paid a couple minor fees (less than $200.00) and NO TAX, approx. 53K sale price. Approx. 8K more than I paid for it a year ago.

He will put the 21 on his lot and sell it for over 60K in days. If I sold it myself and went and paid cash for the new truck, I would have had to pay the tax on the 53K. pretty much a wash.

Only drawback is I give up my truck today and wait 6-8 months for delivery. I will have to give up my plans to haul my TT anywhere for a while. I bought an 03 Dodge Dakota for 2K, to get around while waiting. I am still surprised at what happened!
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Old 01-22-2022, 09:11 PM   #2
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Did you check out what a 3500 would have been priced out at?
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Old 01-23-2022, 09:27 AM   #3
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Originally Posted by Old-Biscuit View Post
Did you check out what a 3500 would have been priced out at?
No, I did not, was not looking for a 3500. Why?

I was very happy with the 2500 except for the options chosen. Now I am getting all the options I want, and more, in a year newer truck and new full warranty, for less than $200.00. The dealer gets to make money on the new sale and on the used truck sale. I would call that a win, win for all.

When we upgrade our TT, in about two years, I do not have any desire to pull anything larger than the 2500 will haul.
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Old 01-23-2022, 10:21 AM   #4
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Higher tow capability for future Trailer Upgrades and not much more monies

2500.....limited tow capabilities
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Old 01-23-2022, 11:01 AM   #5
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Originally Posted by Old-Biscuit View Post
Higher tow capability for future Trailer Upgrades and not much more monies

2500.....limited tow capabilities
Thanks for the input, was just curious why you suggested the 3500.
The 2500HD crew cab, long bed, 4x4, gas 6.6 litre. 401 HP, 495 ft.lb. torque can tow 14,500 lb. with a payload of almost 4000 lb.

I wouldn't describe that as limited.

I suppose it is all subjective to what you are used to pulling. I do not want a TT longer than 30' and their are plenty of rigs avail. in that weight range. I understand that there are many factors determining actual towing capability but I am sure the 2500 will meet my needs.
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Old 01-23-2022, 12:36 PM   #6
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Quote:
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Higher tow capability for future Trailer Upgrades and not much more monies

2500.....limited tow capabilities
OB you got me curious.
I went to the GM build it site and built a 3500 with similar options. You are right that I could have got a 3500 for approx. 4K more than the 2500, not a lot of increase for that price range.

The 2500 & 3500 have the same new 6.6 gas engine and 6 speed transmission.
They both have the same tow rating of 14,500 lb.
The 3500 has an increased payload of approx. 350 lb.
The increased payload is achieved with stiffer springs in the rear, which results in a harsher ride when unloaded.

So, I am still happy with my choice.

I do admit I did not even look at the 3500, before deciding on the 2500, after driving 1500's for years, and I probably should have.
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Old 01-23-2022, 12:46 PM   #7
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I would just take the deal you got and take advantage of the upside down world we are currently living in. I remember back in the late 1970s or early 1980s new Bridgeport mills were cheaper than used Bridgeport mills because you could get them now. The same situation with your truck. This is a temporary situation and will also pass. I just hope you aren't looking to sell your new truck in the next few years as somewhere along the line today's shortage is going to become a glut when the new trucks waiting for chips come on the market. You know what the old farmer said "Make hay while the sun shines."
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Old 01-23-2022, 01:01 PM   #8
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How long have you had the old truck? 10 months? just a guess. That means you also paid /sacrificed 10 months worth of payments is that correct?
I had a chance to do the same type deal with my 2019 only I had a more paymnts involved, that I really did not want to walk away from.
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Old 01-23-2022, 01:08 PM   #9
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My stuff is older but the current selling prices on 3 of my vehicles are well over what I paid. Percentage wise old trucks seem to be the most appreciated, I have a 2002 Powerstroke that I bought in 2009 for $11,500 and the same trucks today with similar mileage in similar condition are easily going for twice that, and in some cases much, much more. unbelievable. Just my luck I'm not ready to part with anything.
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Old 01-23-2022, 01:13 PM   #10
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I would just take the deal you got and take advantage of the upside down world we are currently living in. I remember back in the late 1970s or early 1980s new Bridgeport mills were cheaper than used Bridgeport mills because you could get them now. The same situation with your truck. This is a temporary situation and will also pass. I just hope you aren't looking to sell your new truck in the next few years as somewhere along the line today's shortage is going to become a glut when the new trucks waiting for chips come on the market. You know what the old farmer said "Make hay while the sun shines."
Yes, I agree I am totally taking advantage of the current situation and no I don't intend to sell the new truck at all. My hope is this will be the last new vehicle I will ever buy.
I would normally not even buy a brand new vehicle, let alone go back and trade a year old vehicle for a new one.
In fact I swore, years ago, that I would never buy another new vehicle again.

The current market and limited availability and cost of used trucks has made me reconsider that decision.
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Old 01-23-2022, 01:40 PM   #11
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Quote:
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How long have you had the old truck? 10 months? just a guess. That means you also paid /sacrificed 10 months worth of payments is that correct?
I had a chance to do the same type deal with my 2019 only I had a more paymnts involved, that I really did not want to walk away from.

I had the 21 for almost 13 mo. I don't see it that way. Like most people, I had a loan on the truck. Fortunately I only owed about 6K at time of trade. so low payments.
Dealer paid off loan when they took possession. So no more payments until new truck is delivered.
At time of delivery I can refinance the 6K plus approx. $200.00 fees. Less 1K deposit so 5.2K owed, or just pay it off at that time. So End up in exactly the same position as I was before trade.
The payments made during ownership are the cost of owning a new vehicle, so not wasted money. Unless you have the option to pay full cash up front and not finance anything.
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Old 01-23-2022, 02:01 PM   #12
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My stuff is older but the current selling prices on 3 of my vehicles are well over what I paid. Percentage wise old trucks seem to be the most appreciated, I have a 2002 Powerstroke that I bought in 2009 for $11,500 and the same trucks today with similar mileage in similar condition are easily going for twice that, and in some cases much, much more. unbelievable. Just my luck I'm not ready to part with anything.

Too bad you are not willing to part with anything. Your used vehicles will never be worth more than they are now.
I sold my 07 Silverado and an 04 Explorer, got great prices for both, to help finance the 21 2500. The thing is... you have to buy new, at or below MSRP, with out the 5-10K mark up many dealers are applying, to take advantage of the market. If you can get a dealer to sell at MSRP and give a good value for your trade in, you can lessen the tax on a new purchase by the trade in value vs. selling your vehicle and paying full price at purchase.
That was what made my deal worth doing. The dealer gave me trade value for the 21 equal to the MSRP of the 22 with additional 4K in options, so I paid no tax, only the minor fees.
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