It's GONE!

[RamHemi5.7]

LOL.

Yea, I sold my truck back to the same dealer I bought it from 3 years ago. I owed $18,600 and they offered $18,100. So I jumped on it, did the paperwork and gave them $500 bucks to cover the rest. No more payments for me!

I was at that very point where a truck starts to lose its value, and then you owe more than its worth, so I jumped off that train and got rid of it. I don't think I did too bad for a 2013 quad cab 2 wheel drive 1/2 ton gasser with 65,000 miles. Never again will I buy another gas truck. 2500 diesel from now on.

What do yall say?

 

[RamHemi5.7]

you're right.

I paid 38K OTD New. Over 3 years I paid down 20K bringing me to that 18,600. I basically gave the truck back and paid $500 for them to take it. LOL Leaving me with no more burden of a truck payment, and of course, no more truck. Also no more $130 insurance bill. I got the high end of blue book trade in, private sell woulda been 20K. (in my area). Didnt have time to list it and deal with craigslist flakes. I thought I did OKAY...not great, but I am satisfied.

 

[reek]

so kinda like a no-worry 3 year lease for $20,000. about a $560 / month payment with zero down.

I'm not sure how that is in terms of deal wise since I never lease. As long as you're happy, all that matters.

What you gonna do for a new truck?

 

[RamHemi5.7]

so kinda like a no-worry 3 year lease for $20,000. about a $560 / month payment with zero down.

I'm not sure how that is in terms of deal wise since I never lease. As long as you're happy, all that matters.

What you gonna do for a new truck?

yea, ive never leased, but I cant imagine a truck like that would have been as much as I paid over 3 years. probably would have been less. but, i don't really know. if it was a lease, i think the mileage i put on it woulda killed me at 65 thousand miles.

anyways, I'm glad its over with.

I am now daily driving my 2002 Ram 2500 4x4 5.9 cummins I bought last year. It's paid for. it sure is a work horse.

 

[Pull Ya]

Hey, if your happy, we're happy!!!!!! Only other comment is, your going to have to change your Avatar. I always felt better w/o a payment. I had an 04 5.9--one of the best trucks I've ever had!!!!!
Jay

 

[Murphy Slaw]

I prefer no payment as well. I bought my 05 used for about 20,000, paid it off in a few years and will run it nearly 10 years.

I'm banking cash now for my next new / newer one.

 

[Mega-Hemi]

Wish I could have found a 5.9 era Cummins in decent shape. Another draw back to living in NY. Anything over a few years old and the body's already starting to rust off.

 

[baum]

as long as you think you received a good deal thats all that matters.

id hate to say it but you already took the most depreciation of the value that usually occurs in the first 2-3 years of a vehicle purchase. you were getting to the point where it actually starts to taper off a lot and level out.

 

[Dr. Righteous]

It is criminal almost how over inflated prices are. My 2014 RAM lost nearly HALF it's value in 2 years. I'm glad I was the buyer after that 2 years and not the original owner. I bought it for what it was really worth; not an over priced because the owner was upside down on it.

 

[Rzrman328]

I'd sell mine but the wife wants to keep it.

 

[Csanders1992]

It is criminal almost how over inflated prices are. My 2014 RAM lost nearly HALF it's value in 2 years. I'm glad I was the buyer after that 2 years and not the original owner. I bought it for what it was really worth; not an over priced because the owner was upside down on it.

I have a theory that the biggest reason behind it is that ram offers such big incentives on new ones. I bought mine for 11k off msrp. It was worth less than that 2 months later


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[jacobsmudder]

i picked mine up off fleabay. shes a rollover

put it this way, if i wanted to buy new headlights, they would cost more than 10% of what i paid for this truck. lol.

 

[thrashie]

I just got 28k trade in on my 2013 Laramie 1500 with 46k miles.
thought I did pretty good there. didn't hurt that inside and out looked pretty much brand new either.

 

[huntergreen]

i drive my vehicles till the wheels fall off, never get much of a trade.

 

[ADUBIS]

I found a link from Ram on my vin that had all the pertinent data on my truck including trade in. I got the price down pretty good but the trade in listed was already almost 10 grand less than current msrp and ive owned it less than a month. I paid 11k for my 05 hemi quad cab 3 years ago from the same dealer and they offered me $3500 due to the bed wheel well rot that alot of them had. It had 111000 miles on it when I bought it and 134000 when I traded it in. Overall I got what I wanted and hopefully my new ride will still be going strong when its paid off and worthless.

 

[Hootbro]

I have a theory that the biggest reason behind it is that ram offers such big incentives on new ones. I bought mine for 11k off msrp. It was worth less than that 2 months later


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That is not a theory but a fact. Manufacturers that heavy discount at point of sale have heavy depreciation at trade in time.

That is one of the main reason Asian brands hold their value, they do not discount as heavily at point of sale.

Buyers have to pick where they want their savings, upfront at point of sale or at the backend at trade-in time. Most times they cannot have both.

 

[ExpressRules]

Heavy depreciation is a fact of life for those that have the need or just want to trade in their vehicle prior to the curve being in their favor (or at least flat). There is also a penalty to be paid for owners that pay very little down and/or drag out the repayment terms. Makes it much harder to ever be ahead of the game.

I like to take a longer term if the loan percentage is more favorable and pay it down faster. When I traded my last truck for my current it provided a nice down payment and because of that I'm thousands of dollars on the up side with positive equity on current truck, so even if I had to sell it today I'm walking away with positive cash flow. So I really don't worry about depreciation.

 

[mtofell]

When I traded my last truck for my current it provided a nice down payment and because of that I'm thousands of dollars on the up side with positive equity on current truck, so even if I had to sell it today I'm walking away with positive cash flow. So I really don't worry about depreciation.

^^This

Having equity in a vehicle is key. Constantly treading water and barely keeping pace with what you owe is a sure way to make banks rich.

 

[jag1886]

I like to pay mine of asap and then drive them for 10-15 years for almost free.

 

[sbarron]

I like to pay mine of asap and then drive them for 10-15 years for almost free.

Yeah. I know it's not an option for some, but I've always paid cash up front. I've found that dealers are slightly less willing to wheel and deal when they can't make anything up on the back end, but they usually don't let me walk out the door either.


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