Should I buy a new truck?

[JD8]

GM was advertising 0.9 a few weeks ago.

I picked up the silverado I am driving now in November last year, and did not pay a dealer add on price. The are out there a person does have to look around tho.

I'm sure the deals are around here or there..... but I bought my 2019 in Jan 2020 for 10k+ off sticker. I wouldn't buy one til they start releasing those incentives.

 

[Mr.Glock]

Paying cash? If not then a big No. Home paid for? If not then a big No. Kids? Their Education paid for? If not then a big No.

See where this is going.

 

[Aku]

At least wait till interest rates and inventory catch up to dealers. They still think they can ask sticker or above right now.

I do agree with this. However, with the dollar losing ground, tangible assets are a better bet.

 

[Dorkus]

Paying cash? If not then a big No. Home paid for? If not then a big No. Kids? Their Education paid for? If not then a big No.

See where this is going.

Cash - yes, but will have to liquidate some assets

Home paid - yes

Kids - out of house and off payroll (thank the Lord)

 

[JD8]

I do agree with this. However, with the dollar losing ground, tangible assets are a better bet.

That's a bit overblown, the dollar is at a higher point than it was when I bought my Expedition, not by much but still higher. Don't know that I'd go out and overpay for stuff on that fear. ESPECIALLY one that loses value so quickly.

 

[dancer4life]

I am in the same mindset as @JD8 , I would wait until interest rates go down and inventory catches up. I have a 2011 Ford F150 with 187,000 miles on it and it still purrs like a kitten. My wife keeps wanting me to sell it and buy a new truck but I love that truck and will drive it until it dies.

 

[OK Corgi Rancher]

I sure as hell ain't gonna finance a truck. Those days are long gone.

 

[Mr.Glock]

Cash - yes, but will have to liquidate some assets

Home paid - yes

Kids - out of house and off payroll (thank the Lord)

Respect!

 

[enuf]

I think gasoline/diesel fuel vehicles will still be available in 5 years; however, I do think EV's will be much more the commonplace and honestly working fairly well. No, I am not an EV guy and absolutely wind farms. But there is no doubt in my mind that EV's will continually get better. What I do think you will see is - as EV's become more commonplace, the cost of refined products will go up. The price of a gallon of fuel in 5-years is what will be punishment for owning a fuel-burner.

 

[swampratt]

I buy one now and drive it very little and keep the old one and use it for my daily driver/hunting truck. Then in five years I have a low miles replacement.

Here is what I see.
Buy one now : Got money not an issue at all.

Drive very little : You can do that but any bugs that this vehicle has may not show up and when you begin to get miles on it which leads to the next deal.

Then in 5 years I have a low miles replacement: Yep with low miles and now you are putting miles on it and issues show up. OH CRAP! There is not any warranty left on this low miles Newer truck.

Reach deep into your pocket for repairs.

Now you could have saved all those truck payments and all that insurance payments and kept the older truck running just fine and probably have money left over.

If I am buying a vehicle to drive very little it will be a collector that will not drop in value.

VVT , Camshaft Phasers will not last so stuff like that in a vehicle in my yard i do not buy.

I need something that goes 300,000 miles without any major issues.