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Old 10-25-2003, 12:12 PM   #1 (permalink)
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buying a chevy truck.

i went to the chevy dealership yesterday and was looking at my new truck. a 2004 chevy silverado z71 pickup 4x4. extracab shortbed white. it basically has everything z71 package=off raod suspension and all the bells and whistles except leather, cd changer and xm satillite radio.
its got the 5.3 litre, onstar, bose sound system, elect bucket seats, all the fun stuff

the sticker price was $34,400 but with all the rebates it would be $30,500 and getting the 6 year warrenty instead of the 3 year.

does anybody know if this is a good deal???

i will be putting $4000 down, and paying about $425 a month for 72 months at 4.9 % interest rate.
i might get a 3-3.5 % apr through my dads credit union but i wont know that until monday which would lower my mothly payment a little.

insurance i would get under my parents coverage through AAA for $190 a month for full covarage, right now im through mercury insurane by myself and paying $110 for liabliility only for a 1980 toyota 4x4....so that seems like a really good deal

yeah i know its not a toyota, please no flames....i still got the 1980 yota 4x4
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Old 10-25-2003, 12:30 PM   #2 (permalink)
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sounds like a pretty good deal to me. i havn't seen the 04 chevys, but assuming they still have the ugly headlights, i'd get a gmc instead.

or maybe an 02 chevy. could get a used one way cheaper i bet. some old guys lease trade-in or something.

but 30-35,000 for a 04 with all that sounds like a good deal.

why not a toyota?????????????????????
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Old 10-25-2003, 12:51 PM   #3 (permalink)
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...as long as it's not a Ford!
Sorry, I wish I could tell you something/anything about what kind of deal you're getting but all I can say is 6 years of payments seems pretty long

But since it's not a Ford you won't have to worry about your payments out-lasting your new car
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Old 10-25-2003, 03:41 PM   #4 (permalink)
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6 years is pretty long but at least that way i dont have to pay much each month but still leaves the option to pay more if i wish to (which i will).....

the chevys have beeter deals right now than the gmc's that i have found, so yes i do like the look of the gmc better i dont feel it is really worth the money to get a gmc if i had to pay more.
the chevy look is growing on me and the white one i looked at looks pretty darn good.

as for a lese trade in i am skeptical.... i know if i had a truck i was only planning on keeping for a few years and then trading in i would drive it like it was stolen cuz im not worried about long term reliability..........
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Old 10-25-2003, 03:46 PM   #5 (permalink)
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i gotta say with that much money financed and the resale value of Chevy...you will be way way upside down in your payments in about a year....i will never buy a new car, let somebody else eat the initial depreciation....just my .02, i do like chevy trucks though.
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Old 10-25-2003, 04:48 PM   #6 (permalink)
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I would wait till the Titan comes out, maybe Chevy will offer better deals seriously if you can it only favors you

I read somewhere on TS.com that a guy bought a similar truck with a sticker of 35k and after everything drove away with the truck for 27k just reading other peoples buying experience with chevy I would not except anything less than 8-12k off their vehicles.

MSRP verse invoice on a domestic vehicle is twice if not 3 times that of an import, my 4Runner had an MSRP of 42,755 and and invoice price was 3k less, an Explorer or TrailBlazer with MSRP of 40k had invoices of 30k, thats a 10k difference and major profit you don't need to be paying.

I take it you live at home and is this your 1st new vehicle that your buying from a dealer cause I know I have been seeing Zero% financing but you need excellent credit plus 3k cash back on top of that, the insurance through your parents makes it less but in your own name for slightly more actually builds your credit up more so if you ever want to buy or rent something they see that

I would also go to Ford and Dodge and get trucks with prices similar to the Chevy you want even test drive a Ford or DOdge to the Chevy dealer and compare them, dealers get nervous when their gonna loose a sale, and they will start lowering the price, play their game, act like you don't really need it cause the more you look like you can wait forever to buy it the more they take off to sell it.

Every dollar you save can be spent on the mega aftermarket Chevy has, just think of what 5k could do to a chevy

Think I said enough and enjoy the new truck
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Old 10-25-2003, 05:35 PM   #7 (permalink)
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jjdeneen

Quote:
does anybody know if this is a good deal???
Its a chevy, expect to replace the tranny at about 50Kmls. along with anything else that breaks, ive had 2 chevy`s should have learned by the first POS but im hard headed i do wish you luck, IF you do buy it...
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Old 10-25-2003, 05:42 PM   #8 (permalink)
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50k on the trannie?!?!?! GOOD GOD!!

they did offer a 6 year 72,000 mile warrenty though.....
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Old 10-25-2003, 06:25 PM   #9 (permalink)
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That sounds like too much money for a Chevy PU to me.

If I was going big, it would be:
1/2 tie.Tundra 4 door V8- coming out shortly
1/2 tie. Dodge Ram Hemi 4 door (it's just too badass and logic doesn't apply here )
3. Nissan Titan (reliability over looks)
4. F150 (looks over reliability)
5. Silverado (sorry, I can't get over the interior-otherwise nice)
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Old 10-25-2003, 07:41 PM   #10 (permalink)
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I love how die hard chevy guys will trade their trucks in at 40-70k for new chevys cause their having problems don't they learn
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Old 10-25-2003, 08:00 PM   #11 (permalink)
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My dad baught a 97 z-71 4x4 extended cab 5.7l brand new, hes got around 140k miles on it now. They are basically in town miles. I think the only thing hes ever replaced on it is the battery and a fuel pump. Thats not too bad considering what its been through. He only changes the oil about every 8-10k miles(he runs synthetic). I can only hope my vehicles are this reliable.

Oh and yeah the GMC's do look better.

And I would also deff. consider buying used if you can find what you want. I baught a 2-1/2 year old 99 camaro ss that stickered for $31k for $21k. It only had 7k miles on it
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Old 10-25-2003, 08:40 PM   #12 (permalink)
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as long as it isnt a Dodge or a Ford it sounds good.
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Old 10-25-2003, 10:24 PM   #13 (permalink)
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Older Chevy/GMC's were good, I dunno if I would buy one now though. If I were gonna go domestic, I'd get a Ford or a Dodge and steer clear of GMC. I had an Explorer, and never had any problems. Most people I know that have Chevys have quality problems from the get go. Just my opinion.
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Old 10-26-2003, 10:02 AM   #14 (permalink)
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First thing i have to say is do your research before buying. You can find out invoice price easy enough online. This alone will get you pretty good price.
When I bought my Tacoma I took this info and then made a letter that listed what options i wanted and then showed that i knew what the invoice price was and the sticker price. I then went online again and found about 20 dealers that I was willing to drive to and called them and got their fax number to the fleet manager/new car manager. I then faxed all these dealers with the letter I wrote and waited for them to call me back. I took their price and the next day I called them all back gave them the lowest price I recieved. Needless to say most of the dealers after hearing the lowest price dropped thier price also. I then called the lowest price dealer and told them we had a deal and to give me a total price with ttl ( I already had finaancing through my credit union) and i drove down and got the truck. This was last year and i was lookin for a 2003 D cab with power, air a pretty basic truck. I got a bid of $800 under invoice without having to go and mess with a salesman.

Have fun
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Old 10-26-2003, 11:06 AM   #15 (permalink)
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i will never buy a new car, let somebody else eat the initial depreciation
JJ,

knemo is absolutely right---let someone else pay the depreciation! most vehicle's depreciation is within the first 2-3 years, depending on the make/model/year of the vehicle. the depreciation starts to slow down after 3 years.

i'm also going to try to tie in two related subjects: financing (not leasing) and depreciation. when you finance a vehicle, the finance companies apply a formula called the "Rule of 72" which is calculated on the (APR x value of the vehicle x length of time) at the time of purchase.

a short explaination goes something like this: the first owner's first few years of car payments are actually paying for the depreciation, not the principal on the vehicle itself. hard to believe? its true! why? because these finance companies are trying to recoup the max amount of interest because they know from history that:

a) the car's resale value (MSRP - historical depreciation) will decline at a rapid rate but start to slow down around year 3.
b) the car may suffer from reliability issues (read = FORD) ---then the owner sells the car
c) the owner may get sick of the car or want to buy another vehicle---the owner sells the car
d) the car may be stolen, etc---the owner loses the car!

So when you buy a, say, 3 yr old vehicle, much of that depreciation will have been "paid off" by the previous owner. Since the vehicle's market value has been decreased by the amount of deprecation, your total finance amount will be much less. its a smarter buy, especially for vehicles that typically have high reliability like toyotas and hondas.

other things to consider:
many of the major problems happen with all vehicles typically occur within years 1 through 3. if you happen to find a 3 year old *any* vehicle with no problems, you're going to get a better deal than if you buy new.

also, given that the finance rates are soooo much better now for used cars than they were even 5 years ago, the 2.9% apr you'll probably get will not make a huge difference in monthly payments if you go through an internet finance co like www.peoplefirst.com.

i suggest doing some more homework/research and especially looking at reliability reports from consumer reports on that chevy truck you are looking at.

bob
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Old 10-26-2003, 03:11 PM   #16 (permalink)
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Geez, everybody is attacking you on the new truck purchase, but honestly, I have boughten two used cars and I am so sick of inhereting people's problems, you never know the full extent of repairs until you go through thoroughly repairing each item and discovering other stuff along the way.

Honestly, if you plan to keep the truck for a very long time, yes, you will definitly get a hard hit in depreciation value, but my opinion is go new.

Chevy's are very nice trucks, especially with the 5.7L V8 very strong and powerful, although MSRP are way overpriced as many have mentioned. My friend's 2WD has been performing top notch (even though he bought it used) and the only thing that went wrong was the power window fell off the guides, pretty strange. DEFINITLY get the extended warranty based on previous findings of problems in the truck as they get older.

Tundra's are great trucks, but for a V8, don't have enough power right now and especially with the quadcab coming out, towing higher end items might prove to be a challenge in them.
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Old 10-27-2003, 05:01 AM   #17 (permalink)
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Quote:
Originally posted by Bob_98SR5
JJ,

knemo is absolutely right---let someone else pay the depreciation! most vehicle's depreciation is within the first 2-3 years, depending on the make/model/year of the vehicle. the depreciation starts to slow down after 3 years.

i'm also going to try to tie in two related subjects: financing (not leasing) and depreciation. when you finance a vehicle, the finance companies apply a formula called the "Rule of 72" which is calculated on the (APR x value of the vehicle x length of time) at the time of purchase.

a short explaination goes something like this: the first owner's first few years of car payments are actually paying for the depreciation, not the principal on the vehicle itself. hard to believe? its true! why? because these finance companies are trying to recoup the max amount of interest because they know from history that:

a) the car's resale value (MSRP - historical depreciation) will decline at a rapid rate but start to slow down around year 3.
b) the car may suffer from reliability issues (read = FORD) ---then the owner sells the car
c) the owner may get sick of the car or want to buy another vehicle---the owner sells the car
d) the car may be stolen, etc---the owner loses the car!

So when you buy a, say, 3 yr old vehicle, much of that depreciation will have been "paid off" by the previous owner. Since the vehicle's market value has been decreased by the amount of deprecation, your total finance amount will be much less. its a smarter buy, especially for vehicles that typically have high reliability like toyotas and hondas.

other things to consider:
many of the major problems happen with all vehicles typically occur within years 1 through 3. if you happen to find a 3 year old *any* vehicle with no problems, you're going to get a better deal than if you buy new.

also, given that the finance rates are soooo much better now for used cars than they were even 5 years ago, the 2.9% apr you'll probably get will not make a huge difference in monthly payments if you go through an internet finance co like www.peoplefirst.com.

i suggest doing some more homework/research and especially looking at reliability reports from consumer reports on that chevy truck you are looking at.

bob
The only argument that I have against this:

People don't know how to maintain their cars. I am the only person in my family that has bought a used car. Everyone else buys them new and keeps it for 8-10 years. The 4Runner and Celica were bought used and both needed maintenance (fluids changed, timing belt, tires, etc). I spent around 1,200 on the 4Runner to get all the maintenance and new tires, and over $2,000 to get the Celica running the way I want it (tires, various hoses, fluids, timing belt, turbo rebuild, etc). My next car/truck is going to be new (and another Toyota!!) I read an article a few years back (don't remember where I read it) that says that an owner of a "new" car will only get their max monitery value out of the car if they own it for around 10 years. Car's have the most problems the first year and after 10 years. The first year, everything is under warrenty, so there is no loss other than the owner's time. The mid-life of a car, is where they are most reliable. And then they go down hill and start to need more major maintenance (seals leak, etc). So if you buy it new and sell it before its reliability starts to go downhill, you will be fine.

Toyota's mid-life reliability is a lot longer than a Chevy's, so you will have to adjust it for that!!
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Old 10-27-2003, 07:38 AM   #18 (permalink)
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I owned one Chevy Silverado in my life. That is enough. I ordered it from the factory just the way I wanted it.

Two transmissions later, a rebuilt engine, leaking transmission and diffs, finally had Chevrolet buy the thing back at around 20,000 miles. It was a bigger POS than my '89 Ford Bronco 4x4, another great vehicle-not!

Have fun at the Chevy dealer, the stress anger management consultant and the rent a car people.
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Old 10-27-2003, 08:07 AM   #19 (permalink)
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First, there is nothing wrong about buying new- if your in a long term stable finacial stituation, and plan on keeping the vehicle for at least 4 years. If your a student, I don't think it's wise to be tied into a long term, high dollar commitment.

The price sounds high for the current market, I'd expect to see at least an $8000.00 discount off list price. If you have a CostCo in your area, ask for the CostCo price- see if it's lower. $4000.00 is a mighty low drop in price- it is less than they are offering here in rebates and dealer incentives. I'd make them an offer of no more than $26,400- when they turn it down, leave them your phone # and walk out. If they're as hard up to sell stuff as they are here, you'll get a call in a day or two. We bought a 2002 Yukon with these tactics- I offered them $28,000 on a $36,500 vehicle on a Friday, we drove it off the lot on Monday when they called us and accepted the offer-

As far as buying used, the used market is extremely soft right now w/ some tremendous deals available. I just bought a '98 GMC 4x4 K2500 Extended Cab w/ the 7.4L, AT, CC, PS, PB, Power Seats, Premium sound w/ CD, 60,000 miles on it for $13,000.00. The truck listed at $28,000.00 when new-----

I've seen 2001 4x4 1/2 ton trucks go for about the same price here too-

later
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Old 10-27-2003, 11:28 PM   #20 (permalink)
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***update on the truck search***


i called the sales manager at a local dealership. i talked to her about fleet prices (through my work i get fleet priceing supposedly) she faxed me a copy of a truck listed at $33,200 and dealer invoice price of $26,020. thats $6000 off list price!

i think that is a good price and its a gmc, no chevy, which i like the look of better.

i went to my dads credit union and got a quote on car loans...

i can get a 72 month loan at 4.75% apr. i think that is a good deal for the term length....gmc quoted me 4.9% apr for 90% of the price loaned (4000 down is what im putting down)

they said i had a credit score above 720 points so i got the best possible apr available. under 600 points i saw it was 9.5% WOW !

im gonna go look at the truck tommorrow, i,ll let you kno how it goes.............
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Old 11-15-2003, 01:57 PM   #21 (permalink)
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i bought a 2004 gmc sierra z71 truck.

it silver extended cab shortbed

I LOVE IT!!!!

i got it for 29,000 (invoice price) it was listed for 34,700

i.ve had it for 8 days now and almost have a thosand miles on it!

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Old 11-15-2003, 03:16 PM   #22 (permalink)
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Quote:
Originally posted by jjdeneen
i bought a 2004 gmc sierra z71 truck.

it silver extended cab shortbed

I LOVE IT!!!!

i got it for 29,000 (invoice price) it was listed for 34,700

i.ve had it for 8 days now and almost have a thosand miles on it!

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Old 11-15-2003, 03:37 PM   #23 (permalink)
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oh yeah pics.....

well i,ll get those taken and posted on monday...sorry im at work now and am going dirtbike riding all day tommorrow so i,ll do it monday after work.......
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new paint (blue), spray-in bed liner, BFG Mud-Terrains 32x11.5, toyota altimerter/inclinomerter, custom rear tube bumper (badlandbumper.com). WARN manual hubs.
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Old 11-15-2003, 10:08 PM   #24 (permalink)
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well, good to see im not the only one who made the switch. are you keeping your old truck?
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1985 Toyota 4Runner, 3" Trail Gear rear/ All-Pro front springs, 42x14 IROK's, Allied Rockathons, spool rear/detroit front, 30 spline longs, Dual cases w/4.7, Marlin High steer, lots of other stuff..

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Old 11-15-2003, 10:40 PM   #25 (permalink)
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Thank you for not putting another one of those ugly new Chevies out on the road. I'm a chevy guy when it comes to domestics, but the stylings of the new trucks are horrible and disproportioned. The GMC is a very nice looking truck. It's amazing what slight body work and headlights can fix i.e. Chevy vs. GMC. Good luck with it!
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V6 5 speed 4X4| Retrofitted E-Locker| SAW's| LC coils and Doetschtech shocks| ATS arms | 285 Goodyear MTR's|TJM T-15 With Warn M8000|Retrofitted Toyota Hood Scoop| Stubbs Sliders|Bushwacker Extend-A-Fender Flares| Extended rear diff breather| Uniden 510XL CB w/ 4 Ft. Firestik II Antenna|Dynomax Super Turbo Muffler|Black headlights and corners| More to come...

2007 VW GTI 6 Speed
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