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Post by Freeborn on Mar 22, 2017 17:19:26 GMT -6
The wife went to several dealerships recently. The cars with less than 20k miles looked like great deals, until she went to the new side of the lots. She said that new car financing had lower interest rates which all but equaled out the total $$$ paid in the long term. The new one's also had warranties that were better than used. She was going to call some banks at lunch today to see if we could find any 0% financing. This would make the 10k mile cars look a lot better again. She also called the insurance agent. He said that every vehicle has different options that affect insurance rates. Said to call from the dealership with the make and model and he would tell her the options to chose for that car and how much it would take off the premiums. This puts the ball back into the "new" court as you can't change options on a used car. Like you, we are undecided. She went looking for a less than 20,000 mile car and found ways to get a new one for the same price. Finding a better loan at the bank may change that though... No bank will give you 0%. Only the dealer can do that and they usually charge you a ton for it. Usually better to take the cash back instead of 0% and finance with the lowest bank rate you can find. Bank rates have been 2-3% here but they are starting to go up. That's my thoughts on New. When Ford has a good incentive I would take the cash and use my home-equity to buy the truck. After tax you can get rates down to a tolerable level.
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Post by Freeborn on Mar 22, 2017 17:22:01 GMT -6
How far have some you driven to purchase a new truck? I have herd of guys doing pretty well if they are willing to go and get it.
For me I would stay in the mid-west but I would drive if it was what I wanted.
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Post by Catscratch on Mar 22, 2017 17:47:46 GMT -6
The wife went to several dealerships recently. The cars with less than 20k miles looked like great deals, until she went to the new side of the lots. She said that new car financing had lower interest rates which all but equaled out the total $$$ paid in the long term. The new one's also had warranties that were better than used. She was going to call some banks at lunch today to see if we could find any 0% financing. This would make the 10k mile cars look a lot better again. She also called the insurance agent. He said that every vehicle has different options that affect insurance rates. Said to call from the dealership with the make and model and he would tell her the options to chose for that car and how much it would take off the premiums. This puts the ball back into the "new" court as you can't change options on a used car. Like you, we are undecided. She went looking for a less than 20,000 mile car and found ways to get a new one for the same price. Finding a better loan at the bank may change that though... No bank will give you 0%. Only the dealer can do that and they usually charge you a ton for it. Usually better to take the cash back instead of 0% and finance with the lowest bank rate you can find. Bank rates have been 2-3% here but they are starting to go up. Bank said they would do 2.69% on a 2016/17, or 3.39% on a 2014/15. I think the dealerships will beat this if we haggle a little. When you say the dealer will charge a ton for it what are you talking about, how do they get you? Is it a closing cost?
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Post by terrifictom on Mar 22, 2017 17:54:09 GMT -6
No bank will give you 0%. Only the dealer can do that and they usually charge you a ton for it. Usually better to take the cash back instead of 0% and finance with the lowest bank rate you can find. Bank rates have been 2-3% here but they are starting to go up. Bank said they would do 2.69% on a 2016/17, or 3.39% on a 2014/15. I think the dealerships will beat this if we haggle a little. When you say the dealer will charge a ton for it what are you talking about, how do they get you? Is it a closing cost? When you take 0% financing thru manufactuer,you will give up the cash rebate.. . If you finance thru bank or credit union you will get the rebate amount off total cost so you will pay less for the truck. Ask the dealer to run a comparison for you.
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Post by chummer16 on Mar 22, 2017 18:22:46 GMT -6
No bank will give you 0%. Only the dealer can do that and they usually charge you a ton for it. Usually better to take the cash back instead of 0% and finance with the lowest bank rate you can find. Bank rates have been 2-3% here but they are starting to go up. Bank said they would do 2.69% on a 2016/17, or 3.39% on a 2014/15. I think the dealerships will beat this if we haggle a little. When you say the dealer will charge a ton for it what are you talking about, how do they get you? Is it a closing cost? Dealers are just passing you to a bank. Some dealers will add a % on for themselves. If you get your own loan it takes them out of the equation. I ask the dealer to finance with my bank and I already know the rate so they can't play that game. That just makes things easier having my truck loan at my bank. The only way a dealer could beat that rate is if they found a new bank with a lower rate but banks are pretty close on car loans. Don't discuss that up front. Negotiate your final price on the truck before you talk payment or rates. Otherwise they will build a lower rate into the price of the truck. Tell them you want the cash price and negotiate from there. Then ask him for giggles to see what financing he can get. Then you hold all the cards. 0% is nothing more than a marketing move to get people to come in. I would be surprised if more than 10% of people take it. I just quoted a guy 0% on a $200k excavator because he had to have it. It cost us(passed on to him) $17k to get 0% from a bank for him. Normally I would try to talk a customer out of it but he is a know it all and said he wouldn't do a deal with out 0% so he is getting 0%.
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Post by biglakebass on Mar 22, 2017 18:33:03 GMT -6
I think I have bought my last new truck. I got a 2015 Chevy last year. Its great, but I have a new avenue that I may try on my next truck.
Salvage title.
My Dads friend goes to the auto auction in Fargo every Thursday. My Dad has 3 vehicles right now that are all salvage. 2009 Ram, 2009 Camry and 2012 Caravan. All run and drive like champs. I bought a 2011 Nissan Rogue last month with 45k miles. My friend finished the repairs today. I got it mainly for my daughter who turns 16 in September. I will be driving it down the road for under $6500. Blue book is 12k on it.
The Rogue was a car/deer accident. So zero frame or suspension damage. Just comsetics.
I get it tomorrow. So crossing my fingers its a diamond in the rough.
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Post by MoBuckChaser on Mar 22, 2017 18:59:26 GMT -6
I think I have bought my last new truck. I got a 2015 Chevy last year. Its great, but I have a new avenue that I may try on my next truck. Salvage title. My Dads friend goes to the auto auction in Fargo every Thursday. My Dad has 3 vehicles right now that are all salvage. 2009 Ram, 2009 Camry and 2012 Caravan. All run and drive like champs. I bought a 2011 Nissan Rogue last month with 45k miles. My friend finished the repairs today. I got it mainly for my daughter who turns 16 in September. I will be driving it down the road for under $6500. Blue book is 12k on it. The Rogue was a car/deer accident. So zero frame or suspension damage. Just comsetics. I get it tomorrow. So crossing my fingers its a diamond in the rough. There is no Blue book or NADA yellow book for Salvage Title cars that I know of....
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Post by MoBuckChaser on Mar 22, 2017 19:02:26 GMT -6
I always wonder why those vehicles are being sold after 10k miles... I'm looking for something in the 2013-2014 range with less than 40k for mileage on it. I'm getting rid of my 2007 Ford Lariat with 84k on it so there should still be some value left in that. I'm looking to stay in the $30k range. Ultimately I'd love a platinum edition with the longer 6.5' box. The longer box has been the hard part to find. If its a F250 regular cab you are selling I may be interested.
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Post by biglakebass on Mar 22, 2017 19:27:46 GMT -6
Bluebook is 12k on non-salvage. My Dads friend that does the auto auction stuff said the target is to drive a car down the road for 60-70% of retail bluebook. He said I got this one for a steal. I will be driving it for almost 50% of retail. To me, if this works out what a fantastic vehicle for my daughter to drive. She is open enrolled for High School, so she will be driving every day and night. She plays hockey so there will be plenty of late nights. The AWD was my priority number 1. Getting a compact SUV was number 1.5...... I got it.
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Post by Freeborn on Mar 22, 2017 19:27:47 GMT -6
I always wonder why those vehicles are being sold after 10k miles... I'm looking for something in the 2013-2014 range with less than 40k for mileage on it. I'm getting rid of my 2007 Ford Lariat with 84k on it so there should still be some value left in that. I'm looking to stay in the $30k range. Ultimately I'd love a platinum edition with the longer 6.5' box. The longer box has been the hard part to find. If its a F250 regular cab you are selling I may be interested. Why regular cab? Want the 8' box or better for towing?
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Post by daydreamer on Mar 22, 2017 19:28:51 GMT -6
I always wonder why those vehicles are being sold after 10k miles... I'm looking for something in the 2013-2014 range with less than 40k for mileage on it. I'm getting rid of my 2007 Ford Lariat with 84k on it so there should still be some value left in that. I'm looking to stay in the $30k range. Ultimately I'd love a platinum edition with the longer 6.5' box. The longer box has been the hard part to find. If its a F250 regular cab you are selling I may be interested. F150 supercrew. Sorry MO
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Post by MoBuckChaser on Mar 22, 2017 19:33:51 GMT -6
Bluebook is 12k on non-salvage. Correct, salvage is usually 50% of Bluebook! My buddy buys the same smashed up stuff and fixes them, then comes the fun of the state guy inspecting them, and passing them to be road worthy. Not fun sometimes. Others are pretty easy!
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Post by kabic on Mar 22, 2017 19:34:39 GMT -6
I found my truck on cars.com when I bought it used. I drove to Rochester MN which I think is 1hour 40 minutes I will drive it until it dies, or I win the lottery.
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Post by MoBuckChaser on Mar 22, 2017 19:36:30 GMT -6
If its a F250 regular cab you are selling I may be interested. Why regular cab? Want the 8' box or better for towing? I haul a 24' gooseneck livestock trailer into the cities often. Regular cab 8' box works best with a 2' tool box behind the cab for me when backing into tight spots.
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Post by MoBuckChaser on Mar 22, 2017 19:39:06 GMT -6
If its a F250 regular cab you are selling I may be interested. F150 supercrew. Sorry MO The Barracuda already has one of those. Its a 2013
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