Buying 2010 now vs. waiting for 2011...?

[wturner]

I turn in a lease in early December and am going to replace it with a GMC Z71 4x4 (purchase).

So the salesman is working hard to convince me to get the 2010 truck now ("one of only 2 inside a 500 mile radius") because I will not get the big discounts on a 2011 in Nov-Dec when I would ideally buy one. He claims that they stopped making 2010 4x4s already so if I wait much longer I will have to get some package I don't want or wait until 2011s are out.

So should I get it, tighten the belt up and roll with 2 car payments for 5 months?

 

[Ol'Drippy]

I did something similar when I bought my Nissan Titan. I got the last '04 on the lot in April '05 I believe. At least at the dealer I was at, they were way more willing to negotiate on the '04.. came off around 7k off the sticker IIRC, whereas if I was to go with the '05 I would have had to go from a Crew cab to a King cab with less options. As for two car payments, I've been there, and wouldn't recommend it to anyone whether you can afford it or not. My .02 is wait the 5 months and get the newer year model and not worry about 2 payments.

 

[brianhoberg]

2 trucks, 2 payments, 2 insurance premiums. I'd wait, you can only drive one vehicle at a time.

 

[wturner]

I am getting $8000 off the sticker of the 2010.

My question is, if I wait until 2011s are out will I still be able to get a 4x4 crew cab Z71 for $29,900? If I will spend $3000 more on the truck in 5 months then the double payments is justifiable.

 

[Timmy!!!!!!!]

My thought process is the best car payment is no car payment. But then again my roommate tells me I am as cheap as a Jew also.

 

[WHB]

Seems like the best solution would be to find a dealer with an allocation left on an unbuilt 2010? Deal today, spec the way you want it, put cash down, and the truck arrives in 4-5 months?

 

[stu454]

Of course the salesman wants you to buy NOW. That means he'll get paid now as opposed to sometime in '11.

If they came off of the price some crazy amount and you can afford the payments and insurance then maybe.

 

[wturner]

I am finally getting my tax return...the accountant is slow. So that helps things a bit...

 

[knewsom]

My thought process is the best car payment is no car payment. But then again my roommate tells me I am as cheap as a Jew also.

I'm also of a "fuck the car payment, pay cash" philosophy. I don't ever want to finance another vehicle again. EVER. It makes far more sense to buy a cheaper used vehicle that suits your needs, and fix the little shit you need to keep it working. Sure, a big shiny new car or truck is a nice status symbol, but I have zero use for such things.

 

[wturner]

I need to pull a boat and the Land Rover is not really the man for the job, plus I need to hang it up on jack stands and get some serious work done.

I will not buy a 2wd truck so at best I am buying a late 90's Z71 with 150,000 miles for $5000...finding one in good shape without ragged out seats and a 15" sticker of the Virgin Mary on the back window with bubbling tint is nothing short of a chore. Then try to find a white one...

$10k for an early 2000's one or $15-20k on a early 2000's Duramax, then I am into the world of financing again.

The payments on the new truck will be less than the stupid lease car anyway, so I will eventually make an improvement.

 

[mgreenspan]

Seems like you don't really care about price. Just buy a brand new one. I can't believe you're still debating what to buy. http://www.autotrader.com/fyc/searc...rds=25&keywordsfyc=__ejcx__&sort_type=yearASC I found you a bunch. Post up your next installment in a month when you've bought one.

 

[KevinNY]

If you buy the older one then you start out one model year behind in terms of your resale value down the road. Just another factor to consider. I'd say wait.

 

[Blue]

Tell the car salesman to STFU and buy what you want, when you want. Like someone else mentioned, of course he's pushing you on the 2010 NOW. The goal is to get you to sign now, not later. Fuck those beggars at GM, I have no respect for them. Go check out Ford.

 

[Tugela]

As we learned in econ class, a buck now is worth more than a buck later, and every day that 2010 truck sits on the lot it's costing the dealership. Of course they want to sell it to you. If that 2010 has been sitting around for so long then obviously nobody has wanted it and the only reason you are considering it is because of the big price break.

Do a cost comparison of how much more you'll wind up spending with the extra car payment and interest, and if you end up spending more in the long term to save money in the short term then buying the truck now is a poor decision. I don't think the model year difference is a big deal. Compare KBB prices of the same truck from 1995 and 1996. The longer you own the truck, the less the difference will be.

If the dealer is so bent on pushing the 2010 on you, see what else you can get out of it. How about an extension on the warranty? How about a bed liner? Maybe a pair of fuzzy dice? Can you negotiate a better deal on the financing? Think of what other ways the dealer can add value to your purchase that don't affect the sale price.

 

[Lake_Bueller]

The 0% financing for 72 months is hard to beat if you're not paying cash. You'll save more in the long run than you will if you wait and pay 6-9%.

 

[bigred]

Talk to your salesman about getting out of your lease early rather than having both payments. You can get get 0% right now, and a decent deal. If the economy spools back up in the meantime, your dealership isn't going to be as hard up to move those trucks either in six months.

 

[asmith996]

also, i have a hard time believeing that there are only two chevy pickups equipped like you want within 500 miles, especially considering you live in Texas, wait until december, even if you have to pay 1200 to get it shipped from freaking maine or something you still come out ahead, unless the financing is gone by then.

 

[KyleT]

i recently saw a 05 PSD king ranch F250 4x4 with 70 or 80k on it sell for 13k. it was not ragged out other than a punk hs/college kid stereo in it. I would avoid Govt Motors like the plague for now.

 

[Justin_Sherfy]

There are always deals on trucks. Wait to get one. Save your money.

 

[WHB]

i recently saw a 05 PSD king ranch F250 4x4 with 70 or 80k on it sell for 13k. it was not ragged out other than a punk hs/college kid stereo in it. I would avoid Govt Motors like the plague for now.

That's not at all representative of the market. Maybe if the truck had a salvage title.

I just sold an 05 PSD XLT F250 4x4 with 100k miles for significantly more than $13k.