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Re: New truck. Prices coming down or staying outrageou
[Re: BernieB.]
#7731702
12/01/22 01:21 PM
12/01/22 01:21 PM
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Joined: Sep 2007
South metro, MN
Calvin
trapper
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trapper
Joined: Sep 2007
South metro, MN
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People like me are taking a real beating with these truck prices.
I have never owned a new vehicle and have not made a car payment since 1985. I've found the best way to have a nice, reliable truck is to buy for cash every few years. I put money away regularly for when I will need a new truck, then when it's time, I find a good deal on a reliable used truck and cash money talks, believe me. I look for pickups about 5-7 years old with about 90,000 or so on them. I drive them up to about 275k or so (I put on an average of 35k a year), then sell it and buy another. I have been doing this for about 30 years.
The cost of doing this keeps going up, which is natural, but the last truck I bought 4 years ago was a XLT Lariat with 91K I paid $15,000 for. It now has 233K on it so I'll be looking again in about a year. Suddenly, instead of $15k to buy, I am looking at probably $30-40k for a nice truck that's about 5 years old with less than 100k miles. That's a huge jump!
I'm in a good spot right now because I sold one of my small businesses recently and I could go purchase a new truck for cash, but I just can't bring myself to do it. The thought of putting $60-70k into something that depreciates goes against my entire lifestyle. Making payments on one is even worse. Even $30-$40k for used makes me sick. Plus I use a truck as a truck, so I can't be worried about door dings. My truck is in the woods.
Not sure how the next year or so will play out. Maybe I should get a truck for the bush and everyday driving, and then a nice one that I can put a lot less miles on and keep it for a lot longer. Not sure. Suggestions?
If you are putting that many miles on a vehicle (as I am, also) you are shooting yourself in the foot by not buying a commuter car. The car ends up being free in the end and you save the miles on the truck for resale. I drive my trucks for 5, maybe 6 years and sell them with less than 75K on them. Everyone wants a used truck with less than 75 K, They still have good value. 275K..they don't. Just a thought.
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Re: New truck. Prices coming down or staying outrageou
[Re: Calvin]
#7731708
12/01/22 01:25 PM
12/01/22 01:25 PM
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Joined: Jan 2007
Northern Minnesota
BernieB.
trapper
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trapper
Joined: Jan 2007
Northern Minnesota
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People like me are taking a real beating with these truck prices.
I have never owned a new vehicle and have not made a car payment since 1985. I've found the best way to have a nice, reliable truck is to buy for cash every few years. I put money away regularly for when I will need a new truck, then when it's time, I find a good deal on a reliable used truck and cash money talks, believe me. I look for pickups about 5-7 years old with about 90,000 or so on them. I drive them up to about 275k or so (I put on an average of 35k a year), then sell it and buy another. I have been doing this for about 30 years.
The cost of doing this keeps going up, which is natural, but the last truck I bought 4 years ago was a XLT Lariat with 91K I paid $15,000 for. It now has 233K on it so I'll be looking again in about a year. Suddenly, instead of $15k to buy, I am looking at probably $30-40k for a nice truck that's about 5 years old with less than 100k miles. That's a huge jump!
I'm in a good spot right now because I sold one of my small businesses recently and I could go purchase a new truck for cash, but I just can't bring myself to do it. The thought of putting $60-70k into something that depreciates goes against my entire lifestyle. Making payments on one is even worse. Even $30-$40k for used makes me sick. Plus I use a truck as a truck, so I can't be worried about door dings. My truck is in the woods.
Not sure how the next year or so will play out. Maybe I should get a truck for the bush and everyday driving, and then a nice one that I can put a lot less miles on and keep it for a lot longer. Not sure. Suggestions?
If you are putting that many miles on a vehicle (as I am, also) you are shooting yourself in the foot by not buying a commuter car. The car ends up being free in the end and you save the miles on the truck for resale. I drive my trucks for 5, maybe 6 years and sell them with less than 75K on them. Everyone wants a used truck with less than 75 K, They still have good value. 275K..they don't. Just a thought. I hear you but that doesn't work for me. You can't haul treestands, bear bait, or pull a boat and other trailers with a commuter car. I have a truck because unlike most truck owners I actually need a truck. At 275k A truck doesn't have much value but it doesn't owe me anything and whatever I get is a bonus that goes towards the next one. My commute is walking from the house to the truck. L:OL
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Re: New truck. Prices coming down or staying outrageou
[Re: BernieB.]
#7736916
12/07/22 01:06 PM
12/07/22 01:06 PM
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Joined: Sep 2011
sometimes PA ME
ebsurveyor
trapper
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trapper
Joined: Sep 2011
sometimes PA ME
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People like me are taking a real beating with these truck prices.
I have never owned a new vehicle and have not made a car payment since 1985. I've found the best way to have a nice, reliable truck is to buy for cash every few years. I put money away regularly for when I will need a new truck, then when it's time, I find a good deal on a reliable used truck and cash money talks, believe me. I look for pickups about 5-7 years old with about 90,000 or so on them. I drive them up to about 275k or so (I put on an average of 35k a year), then sell it and buy another. I have been doing this for about 30 years.
The cost of doing this keeps going up, which is natural, but the last truck I bought 4 years ago was a XLT Lariat with 91K I paid $15,000 for. It now has 233K on it so I'll be looking again in about a year. Suddenly, instead of $15k to buy, I am looking at probably $30-40k for a nice truck that's about 5 years old with less than 100k miles. That's a huge jump!
I'm in a good spot right now because I sold one of my small businesses recently and I could go purchase a new truck for cash, but I just can't bring myself to do it. The thought of putting $60-70k into something that depreciates goes against my entire lifestyle. Making payments on one is even worse. Even $30-$40k for used makes me sick. Plus I use a truck as a truck, so I can't be worried about door dings. My truck is in the woods.
Not sure how the next year or so will play out. Maybe I should get a truck for the bush and everyday driving, and then a nice one that I can put a lot less miles on and keep it for a lot longer. Not sure. Suggestions?
I have been taking a different approach. I bought my first new truck in 1977 and have bought a bunch of new ones since then. The old me would buy new and trade or sell it @ 200,000 miles. Starting in 2018 i have taken a different approach. In 2018 I bought a new 2018 crew cab 4x4. Thirty some thousand miles later when the warranty ran out i traded it on a 2021. the 2021 got a stuck lifter and i traded it @ 7,500 miles on a new 2021. The newest 2021, after 10 months, has 20,000 miles on it. In about 10 months @ 36,000 miles i will shop for a new truck. The cost for me to always ride in a newer low mileage truck is a lot less than you might think. I would post the numbers, but most wouldn't believe them. Don' t knock it if you haven't tried it. My only operational costs are gas, oil changes & tire rotations. This might not be for you if you have to pay finance charges. For me the least costly vehicle expense is buying new.
Last edited by ebsurveyor; 12/07/22 01:51 PM.
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