So how more so than why do folks buy these new pickups?

I drive a 2003 Ranger FX4 with the 4.0. I have had it since new. It gets horrible gas mileage. It needs new tires and ball joints. I have 220000 on it. I have been shopping around but just cant pull the trigger. Especially with having lost over 50 percent of my income since July. I am supposed to get at least 25% of my salary back in January but I am not counting on it with the virus surging again. I have a down payment for more than half of a Sierra SLT and my credit score is excellent, but every time I get close to a new truck I start feeling like I am going to throw up. I sat down and looked at the numbers and thought I was going to have a panic attack. I really just don't get how they are selling them or who is buying them. Even when I was making my full salary, which was pretty darn good, the prices scared me away. I guess I am just worried about the future or what might happen with all of this uncertainty. But then I see people who are my age (mid 50's) pinching pennies and saving a huge nest egg only to pass away out of the blue and never got to get any enjoyment out of their money. I have gotten up twice this week, got ready to go buy that truck only to come to my senses to wait. I keep thinking they will be cheaper maybe next month... I know it sounds petty but I would really enjoy a new ride right now so I am kind of driving myself crazy about it. Think I will just put it out of my mind for now. Phew there I got that out of my system.
 
I bought a $60,000 truck in 2018, was a 100% tax write off so didn’t cost me anything. I traded it in last month, same dealer, another new truck and they gave me $48,000 for it. They put it up for sale on lot at $58,000.
 

7 point

Senior Member
I drive a 04 f150 with 73k miles my mother bought it new in 04 I bought it from her 3 years ago with 40k on it paid 10,000 for .I dont see the need for a new truck plus I dont really like most of them.
 

nix03

Senior Member
We have people were I work that make less than 100k combined with spouse that have new Tahoe, crew cab 4 wheel drive diesel truck, camper, skeeter boat and at least a 250k house. I have no clue how they do it but he said all they have is payments.
 
I really lucked out by finding in 2019 by finding a 2016 F250 Lariat with only 10k miles on it listed at 40-something....and I traded in a jeep with under 50k miles on it so I ended up financing about $20k on the truck.

I don't know what the dealership was thinking b/c today they have 3 to 4 year old F250's with lesser packages and 75k miles on them for the same price that I got this one with 10k miles on it. I expected to maybe find something wrong with this one but 2 years in and I haven't.
 

glynr329

Senior Member
Traded my 2004 Tacoma in bought a new 2018 Chevy 4 wheel drive. It sit in garage with 4000 miles. Still have not figured out why I did it. Toyota had 40 or 50,000 miles. I still drive my 94 Toyota everyday.
 

7 point

Senior Member
Traded my 2004 Tacoma in bought a new 2018 Chevy 4 wheel drive. It sit in garage with 4000 miles. Still have not figured out why I did it. Toyota had 40 or 50,000 miles. I still drive my 94 Toyota everyday.
It's hard to beat toyota I still have my ole tacoma 4wd 220k still good as new . If I did bite the bullet a get a new truck most likely it will be a tacoma 4wd v6
 

Ihunt

Senior Member
I’m 52 and just this year, finally bought me a 3/4 ton diesel. Yep, it’s terribly expensive but I tow A Lot and it does so much better than my 1/2 ton did. I fully expect to drive this one for at least 10 years. Maybe longer. At that point, I’ll probably get another and it will take me to the grave.
 
I have never spent more than 17k on a truck until 2018 bought a 4X4 Tundra, almost 3 years old w/ 80k miles already, I drive a lot, paid 50k for it , made a lot of double payments, payment is 733 a month, owe 17, its worth 35 still , resell on Tacomas & Tundras is unreal, can get a lot for one w/ 150k on it, wife has a 2005 Forerunner w/ 80K miles on it got 3 or 4 buddies that want it bad... will drive both til we have 400k on em!!
 

hopper

Senior Member
My 2003 F250 FX4 V10 just bit it at 295,000 miles. Looked at new trucks? I have a new reman V10 motor on the way. No payments just the way I like it.
 

7 point

Senior Member
I have never spent more than 17k on a truck until 2018 bought a 4X4 Tundra, almost 3 years old w/ 80k miles already, I drive a lot, paid 50k for it , made a lot of double payments, payment is 733 a month, owe 17, its worth 35 still , resell on Tacomas & Tundras is unreal, can get a lot for one w/ 150k on it, wife has a 2005 Forerunner w/ 80K miles on it got 3 or 4 buddies that want it bad... will drive both til we have 400k on em!!
Toyota is the only way to go I've had 3 of them and they will easily go 400k
 

Fletch_W

Senior Member
We have people were I work that make less than 100k combined with spouse that have new Tahoe, crew cab 4 wheel drive diesel truck, camper, skeeter boat and at least a 250k house. I have no clue how they do it but he said all they have is payments.

Zero savings. No 401k, no HSA, no IRA, no cash savings, no college savings for kids, no life insurance. You'd be surprised at all the nice things you can afford if you spend every single penny you earn. I have extended family that does this.
 

gma1320

Senior Member
Unfortunately my wife's Honda element and my silverado are both getting close to being up for renewal. My silverado burns amd leaks oil as fast as I pour it in these days. New vehicles are expensive. Low mileage uses ones aren't much different. Still cost a bunch.
 

nix03

Senior Member
Zero savings. No 401k, no HSA, no IRA, no cash savings, no college savings for kids, no life insurance. You'd be surprised at all the nice things you can afford if you spend every single penny you earn. I have extended family that does this.
I’m pretty sure that is what is going on with the one I mentioned.
 
I see these f250/2500 asphalt queens running around town, these boys are dumber than dirt. 80K truck, 5K in wheels/tires burning diesel just to look cool.

Average 5 year depreciation is 50%.

A new 60K truck will cost over 5 yrs:

Tax - $4200
5yr 4.5% interest - $7K
Depreciation - $30K

$41K plus 12K fuel (100K miles), 5K insurance, 2K maintenance.

Roughly $60K total for 100K miles(20K annual). 60 cents a mile.

My 2012 F150 runs great, cost me new $38K out the door cash. 8+ yrs old gonna last me another 6-8 or so and I don't think I'll ever buy another brand new one.

When lusting over that new truck, stop and do the math!
 
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