Anyone in Truck Sales?

[Turd Ferguson]

A couple months ago I went out and bought (financed) a 06 F-150 FX4 Loaded. Daily I am seeing ad's in the paper for brand new trucks that are priced lower then what I purchased my 06 for, not to mention lower financing rates and gas rebates throwen in with these new trucks (2008).

My question is, how do I go about getting into one of these new deals that offer so much more then what I purchased only a few months back?.

Brand is not something I am to worried about, Dodge, Ford, Chev, with the deals they are throwing out right now it doesn't mattter to me.

For example: New 2008 Dodge Ram 1500 Quad Cab 4x4 Employee pricing $17788 (CAD)...This is cheaper then what I payed for my current used truck...

Anyone shed some light on this for me?. Is this the way to go?.

 

[bullfrog123]

The big 3 manufacturers are stuggling BIG TIME right now trying to sell trucks and SUV's, hence the big rebates and incentives with interest rates, fuel gimmicks, etc.

 

[Jaynelson]

Works good in theory....until you find out what your truck is worth on trade.

If you financed anything approaching 100% of the purchase price, and don't have a bunch of extra cash you want to throw at this experiment, you're probably in a big negative equity situation as well, correct?

 

[Turd Ferguson]

Works good in theory....until you find out what your truck is worth on trade.

If you financed anything approaching 100% of the purchase price, and don't have a bunch of extra cash you want to throw at this experiment, you're probably in a big negative equity situation as well, correct?

Makes sence to me...However I did buy as the market was just starting to go down so I did not pay near 100% of the purchase price.

 

[Jaynelson]

That's good....but what I'm getting at is that you're just going to be piling debt on top of debt, unless you have a bunch of cash sitting around. New trucks are great, but from a financial sense your best bet is to pay off what you've got as soon as possible before looking at new.

Just my 2 cents.

 

[U81I812]

truck

If you try and trade in your current 06 F150 you'll only get 8 or 9 grand for it. Your stuck, just keep what you got.

 

[Turd Ferguson]

Thanks for the advice guys.

 

[triple]

There's no way that you can walk away from a truck 6 months into the deal and not be "upside down" in the finance side. The biggest chunk of depreciation is at the beginning and you've just started paying that down. Wait and see the incentives coming down the pipe. In Canada, GM, FOrd and Dodge are all getting out of leases. THey are all finding that the residual value left on the truck in 2 or 3 years is way higher than the new adjusted market price. There was such a huge shift in consumer habit that changes are being made. In 15 months when the last of the discounted leases come back, GMAC will be losing alot of money. THey'll be "paying" more than the market value on the truck.

You only hope would be if there was a zero percent financing deal on the truck you wanted. You can bury some of the "difference" (depreciation) in your new truck at zero percent financing.

 

[Jaynelson]

You only hope would be if there was a zero percent financing deal on the truck you wanted. You can bury some of the "difference" (depreciation) in your new truck at zero percent financing.

Even then, most of the manufacturer programs with the good rates won't let you bury much (if any) negative eq. into them, and with 0 percent you're usually giving up some cash back anyways.

 

[skibreeze]

The guys that I know in the car biz are hitting gas guzzling trades at 1/2 of base book. If you need a truck it's a great time to buy. If you have to trade one, not so much.

 

[Powderboy]

If you try and trade in your current 06 F150 you'll only get 8 or 9 grand for it. Your stuck, just keep what you got.

You are never stuck in life. You're only limited by your thinking. If you want a new truck figure it out and go get one. Step one you need a buyer for your truck. Figure that out first.

 

[Burndown1]

There's no way that you can walk away from a truck 6 months into the deal and not be "upside down" in the finance side. The biggest chunk of depreciation is at the beginning and you've just started paying that down. Wait and see the incentives coming down the pipe. In Canada, GM, FOrd and Dodge are all getting out of leases. THey are all finding that the residual value left on the truck in 2 or 3 years is way higher than the new adjusted market price. There was such a huge shift in consumer habit that changes are being made. In 15 months when the last of the discounted leases come back, GMAC will be losing alot of money. THey'll be "paying" more than the market value on the truck.

You only hope would be if there was a zero percent financing deal on the truck you wanted. You can bury some of the "difference" (depreciation) in your new truck at zero percent financing.

Awasome picture , where did you get this?