Tempted

BigBd94 · Dec 9, 2019

Hey all,

I’m looking for opinions on this matter as I want to see if the decision I’m about to make is worthwhile. I’m looking at buying a new truck. I understand a newer vehicle is a depreciating asset, and if I didn’t get such a good deal I wouldn’t be looking twice.
2019 Crew cab Ram 1500 Warlock, fully loaded but doesn’t include (remote starter, or Bedliner) other then that has every option i want,
MSRP of this truck is a whopping 62,000$
I’m getting this truck for 39,000 that’s a crazy 23,000 off suggested price, based on an 8 year-2.99 percent interest rate.
5k down
Payments are 225$ bi weekly.

Basically the worry of buying a vehicle that expensive would be how much money lost on the 62,000 right off the lot but with that 23,000 off how can I not? I can realistically (if I wanted) resell this truck in a few years still get my money back?
Good deal?

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Ohio5pt7 · Dec 9, 2019

Sounds like a good deal however I would never EVER have the mindset that I could sell a vehicle I bought new and get my money back.

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turboguard · Dec 9, 2019

If you view buying a new truck as a lifelong investment and not something you want to resell after a few years, its always a great deal.
The Warlock is a beautiful truck and definitely worth it!

BigBd94 · Dec 9, 2019

Ohio5pt7 said:
Sounds like a good deal however I would never EVER have the mindset that I could sell a vehicle I bought new and get my money back.

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Good point.

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BigBd94 · Dec 9, 2019

Is the 8 year such a huge deal? I’ve got some finance friends who highly discourage this, but With all my bills paid for I have 2,000$ left over a month. Sure I can continue driving a cobalt but I can’t take that money to the grave and I wouldn’t buy a vehicle in cash over 30,000 anyway, good way to give 30k and let the depreciation slowly gobble that liquid cash.

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jessie_m · Dec 9, 2019

Sounds like pretty good $ off msrp on a really nice truck. 8 years sounds like a long time and 2.99% doesnt seem bad, just not very good either. I'd look at local credit unions to see if you can better the interest rate, maybe closer to 2%, and try to reduce the number of years financed to reduce total interest paid over the life of the loan if yourbudget can afford it. . Hope it works out, good luck.

Wayne E · Dec 9, 2019

Don't put 5k down. Try for 0 down and pay little extra every month. That 5K can sit and build interest or RRSP and tax savings. That's what I'd be re-thinking.

Gero · Dec 9, 2019

This is Canadian prices?
A loaded warlock is pretty equivalent (in price) as a loaded big horn or base sport. Look on autotrader and see what people are paying for say a 3 or 4 yr loaded bighorn/base sport.

FWIW
I paid 36995 for my 2017 (bought in 2017) ccsb bighorn. It's quite loaded with upgraded cloth seats, tow brakes, 8.4", spray on liner, etc. It was just over 58k sticker.

Fast forward 2yrs, I have 48,xxxkm and I see equivalents selling around 32grand. Not too bad of a depreciation so far given I didn't overpay.

Jendsley06 · Dec 9, 2019

Never a good "investment" buying a new vehicle. Good discount though. They want to get rid of it of course. The two things you want that it doesn't have are easily added. Bedliner is a great thing to have and can be done anywhere, and OEM remote start is easily done also, as well as aftermarket options too, so don't let that stop the deal. The money, is your decision to make. Shopping around for financing is always recommended though. Good luck and let us know on here how it goes, and pics if you make the deal.

Jrod · Dec 9, 2019

Holy crap, Warlock’s retail for 62k in Canada?

BrewCrew · Dec 9, 2019

8 year loan is really long.

Elevated 2013 · Dec 9, 2019

My only question is why so cheap? There has to be a reason other than “its on sale”. I don’t buy that reason for that much off of a brand new truck!! Not for even the blink of an eye. Are you going to be the second owner? If so, then absolutely as long as you still get full warranty! Hop in it and drive it away like you stole it before they can say no! Lol.

BigBd94 · Dec 9, 2019

Elevated 2013 said:
My only question is why so cheap? There has to be a reason other than “its on sale”. I don’t buy that reason for that much off of a brand new truck!! Not for even the blink of an eye. Are you going to be the second owner? If so, then absolutely as long as you still get full warranty! Hop in it and drive it away like you stole it before they can say no! Lol.

I said the same thing man, they are a huge dealer here in Ontario they move 300 rams a month. I guess they can afford a bigger incentive, plus the guy I dealt with wanted a bonus so he took a bit more off the truck so he says anyways, lol.
But I’ve seen the quote done up as I live in a different province I will have to fly up and drive home. Still saving enough money to do that.

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BigBd94 · Dec 9, 2019

BigBd94 said:
I said the same thing man, they are a huge dealer here in Ontario they move 300 rams a month. I guess they can afford a bigger incentive, plus the guy I dealt with wanted a bonus so he took a bit more off the truck so he says anyways, lol.
But I’ve seen the quote done up as I live in a different province I will have to fly up and drive home. Still saving enough money to do that.

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Yes it is brand new right off the lot, still has the plastics on the seat and everything. Crew cab 5.7 hemi 2019 for 39,000 is to me a great deal. It’s not loaded but I don’t want anything fully loaded, I have a Rottweiler who I put in the back and just want is as a casual off road er, daily driver, grocery hauler and for when i expand my family to have enough room to support them.. all while looking cool [emoji851]

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Elevated 2013 · Dec 9, 2019

I would get all of the discounts in writing as to how he took that much off. I’ve gotten some steals before but that much off is a red flag to me and I’ve owned over 40 cars in my life. If they sent you a written offer as to the final price out the door with a VIN number, I would take it to the nearest dealer and see what they can tell you about it. It’s a sweet deal but something just seems very fishy about it. I really do hope I’m wrong but I’ve got all sorts of bad thoughts about it right now.

Flip-er · Dec 10, 2019

Following

BigBd94 · Dec 10, 2019

So the break down is:
15,250 for MFG
and 6,022
With an additional 750$ off to get the truck off their lot (guy wanted to meet bonus dead line?)
Almost 22 grand off

After couple days of negotiating he actually knocked the price down to 220$ bi weekly and threw in mudflaps and steps.
Not bad for a CC 19 hemi.

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BigBd94 · Dec 10, 2019

BigBd94 said:
So the break down is:
15,250 for MFG
and 6,022
With an additional 750$ off to get the truck off their lot (guy wanted to meet bonus dead line?)
Almost 22 grand off

After couple days of negotiating he actually knocked the price down to 220$ bi weekly and threw in mudflaps and steps.
Not bad for a CC 19 hemi.

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Oh and also 3.99 down to 0% for entire length of term. HUGE

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RaftingDave · Dec 11, 2019

Most people will tell you to never, EVER negotiate a deal based on your payments. Research the vehicle (TrueCar is good), check out competing deals, and do an amortization on your loan. Eight years is crazy long to be a car loan.

And forget about getting anything like your money back. Even at that discount, you'll be underwater on that truck in no time. 0% helps, but all vehicles depreciate. If you love it and want to keep it, that doesn't matter. But you should go into it with the mindset that you're going to keep it.

When I was younger, I used to get dazzled and buzzed up by great car deals. Made a couple of mistakes along the way. Just be sure you're realistic about that term, and that you're comfortable making a long-term commitment to the truck.

It does sound like a smokin' deal, though.

BigBd94 · Dec 11, 2019

RaftingDave said:
Most people will tell you to never, EVER negotiate a deal based on your payments. Research the vehicle (TrueCar is good), check out competing deals, and do an amortization on your loan. Eight years is crazy long to be a car loan.

And forget about getting anything like your money back. Even at that discount, you'll be underwater on that truck in no time. 0% helps, but all vehicles depreciate. If you love it and want to keep it, that doesn't matter. But you should go into it with the mindset that you're going to keep it.

When I was younger, I used to get dazzled and buzzed up by great car deals. Made a couple of mistakes along the way. Just be sure you're realistic about that term, and that you're comfortable making a long-term commitment to the truck.

It does sound like a smokin' deal, though.

Completely agree, I want to keep this truck.
Mind you I did accept 8 years but I didn’t that to keep my payments lower, as this is an open term loan I have the ability to pay it off quicker at my own pace which I plan on doing, so realistically I plan on paying it off within 4-6 years pending. I also have my money ******* in another purchase of real estate so the saving on lower payments sacrificing longer term keeps liquid cash in my pocket.

Thanks for the advice.

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