Truck upgrade.... need advice

timinthegorge · 10-13-2003, 04:35 PM

I've been pullin' my 19' Alumaweld for a year now with my Toyota 4x4, 3L., V6 Xtra Cab pickemup. It's a '93 and has 126K miles. It's been a great truck and I've never had a problem with it (except a screeching AC belt). It's in great shape and I've taken great care of it. Bought it in '98 with 75K on the odometer. It's worth about 4.5K with all the options (power everything, and full tow package, etc.) at least according to Kelly's and Edmond's.

Anyway, it's time to upgrade to a full-sized PU. I'm lookin' at the Ram 1500 Quad Cab with the 5.9 V8, or the Silverado XtraCab with the 5.3 V8. (I'd look at a Ford too, but my grandmother would roll over in her grave).

Here's the problem. I don't want to pay 30+K for a new one (with the $4-500/month payments), and I don't have an extra 25K layin' around to buy one that's a year or two old outright. My credit is excellent, and I can afford a $300+/month payment, so here's my question...

What's the best way to get into a new, or mostly new (1 or 2 years old, low mileage) pickup? Get a loan from a bank? (My bank wants 5.8%, and will only finance 80% for a "used" vehicle). Get a loan online? Try to find from somebody who needs to get out from under their payments, or...???

I appreciate any advice you knowledgable Ifishers can give me.... thanks in advance, Tim

Pyramid · 10-13-2003, 04:49 PM

Portland Teachers Credit Union has been offering 3.3 percent lately. Personally I'd go Chevy. I dont know what the used market is.

[ 10-13-2003, 05:49 PM: Message edited by: Chinookster ]

10-13-2003, 04:52 PM

Grandma is gone,
Dodges are good but I wouldn't own another Chevy.
I have a '99 F150 W/80,000+ miles on it that has been a good truck. It's also my first Ford product.

timinthegorge · 10-13-2003, 05:40 PM

Keta.... Thanks for your sensitivty toward my much-beloved and long dead Grandmother. But, you're right, she'd dead. Time to move on....

I'll stop by and take a serious look at the Ford F-150 the next time I'm in a town big enough to have a Ford Dealership.

And aren't Ford's just as spendy as the Dodge's and Chevy's...

10-13-2003, 07:08 PM

Tim,
I think it's called "Price Fixing". Trucks are all way over priced.

If I really upset you with the grandmother crack I apologize.

Jetsledder · 10-13-2003, 07:18 PM

Timinthegorge if you go buy from a dealer dont let the dealer walk over you. That is the first thing that they try or will without you realizing it. I have a 2002 2wd dodge dakota with a 4.7 v8 magnum in it. It tows my 18 foot north river just fine. It has 36,500 on it already and havent had any problems. Go buy a dodge or a chevy.

blacktail · 10-13-2003, 07:26 PM

I drive a 2002 Toyota Tundra. It is a great truck with lots of power. That would be my first choice for a half ton.

I'm surprised that it isn't on your short list since you already know of Toyota quality and dependability.

Mike

pdxkevin · 10-13-2003, 08:30 PM

You wrote that you were interested in the Dodge Quad cab or Silverado Xtra cab... give the Avalanche a try. Nothing out there is as versitile. I love the storage compartments in the bed side rails (they can double as coolers).

You can get them with or without the plastic on the sides.

My wife talked my into getting in one to really check it out. I am very glad that she did. It comes in a 1500 and 2500.We got a 1500 with a locking rear dif and 4.10 gears.

fishstik · 10-13-2003, 10:09 PM

tim, thomason auto has a huge selection of used trucks, if money is an issue buy a standard cab, dealers hate em cause nobody wants em.. i stole mine a few years ago for 14,000.00 it only had 21,000 but it was a standard cab f-150, as far as the make, i will only say this, when you get to ride in a ambulance, 90% of the time its going to be a FORD..??? reliability?? My 93 f150 has 163,000 and i pull my 17' sled everywhere, what have i done to it in 8 years, new altenator and battery and front bearings cause schwabs screwed em doing brakes thats it.....

pdxkevin · 10-14-2003, 05:48 AM

In this economy, money talks. Get preapproved before going to a lot.

We found ours without stepping onto the lot. I called and got the truck located with what we wanted and for what we were willing to pay. All it took was our walking around it for an inspection. In and out in under an hour (I really look 'em over).

skahorse · 10-14-2003, 06:15 AM

Tim,
There are several options, the easiest being walking onto a used car lot this afternoon and driving home a nice truck. It's fairly easy to negotiate no money down(or low down payment), and finance with the car lot's in-house financing. The interest might be a little higher (8% range) but you can always refinance when you find a bank that will work with your requirements(no down, 5% interest).

The other possibilty is what pdxkevin suggested, getting preapproved prior to setting foot on the car lot. The only problem here is that it requires a lot of upfront calling around(to different banks). If you have the time, this may be the way to go. Just make sure to call every bank in the phone book, even different branches of the same bank company. Don't just stick with your bank. (Also, this is the only option if you plan on buying private party)

Regardless of which path you choose, it should be fairly easy to find financing with very little, or no upfront cash. I've never been one for down payments, I just don't have that kind of cash sitting around. And through the 6 cars i've purchased since I was 17 (I'm 23 now) I've never payed a substantial down payment (more than a couple hundred $$)

On the Chevy v.s. Ford v.s. Dodge.... If you are purchasing brand new, don't buy a Ford. They lose a considerable amount of value when you drive them off the lot. All cars lose money, but Fords lose ALOT. For that same reason, if you are buying used, buy Ford. Take advantage of someone elses misfortune :grin:

Good Luck!

--Skahorse

P.S. If you buy from a car lot, and it takes less than 5 hours from the time you walk on to the lot to the time you leave, you got screwed.

[ 10-14-2003, 07:17 AM: Message edited by: skahorse ]

foxer · 10-14-2003, 01:10 PM

If you dont plan on trading in the toy, check the new car ad's on saturdays. Great deals if you dont carae what color you get..

timinthegorge · 10-14-2003, 01:13 PM

Thanks to everyone who responded. I appreciate it! I got a tip this morning from a guy who drove to Kellogg Idaho (of all places) and bought two pickemups from Dave Smith Motors. He told me he won't buy from anyone else. I checked out their website and they have 10 times the variety of late models I've seen anywhere else. And he sells the full Chrysler and GM lines. Sounds like a roadtrip may be in my future.....

And no Keta, I didn't take any offense at you pointing out the obvious. :grin:

Take care all.... Tim :smile:

Hogback · 10-14-2003, 02:49 PM

Look at the loss leaders in the sunday paper. I have bought a few and no arguing with sales people just point at the one you want and go. With no interest for 60 months and a warranty a new truck may be your best bet.
Randy

Killertraylor · 10-15-2003, 08:47 AM

Try www.peoplefirst.com for real good loan rates over the internet. They will approve you the same day and get a blank check to you in the mail. I refinanced my rig through them a few years ago and their customer service was excellent. Rates are as good as you'll find, although you can find longer terms from other banks. I just bought a brand new Dodge Quad Cab 2500 with the high output Cummins Diesel - I think it would pull my house if I put a few wheels under it! I've always been a Ford guy but I love this new Dodge. The high output diesel has all the get up and go of any Ford gas engine, and 550 lbs of torque to go with it.

The new Dodge's have huge rebates right now - $4500 on the 03's and $2500 on the 04's most dealers will sell you a new rig for invoice and then subtract the factory cash. I got mine $6500 in back of invoice as I bought it from my friend who owns the dealership and he sold it at dealer cost which was a few grand back of invoice.

Oh - dealers often get better interest rate breaks because of their relationships with banks so it doesn't hurt to see what they are offering. Oh -and Dodge is offering 0% for 60 months if you don't take the factory cash. That's a heck of a deal on a new 04!

[ 10-15-2003, 09:49 AM: Message edited by: Killertraylor ]