My lease on the 06 is up in July. I have about 129,000 km's on it, so my penalty will be around $13,000. I am considering buying it out for about $36,000. My question is... Should I buy out the 06 that I know the service record and how it was treated, or try to deal on a new truck? I'd like some opinions on new truck quality, fuel economy, etc. I want to stay with the mega cab Laramie one way or the other. All opinions welcome. Thanks.

 

Seeing how truck sales are tanking, I'd try to deal on a new one and have them throw in forgiving your penalty.

 

i would try to make a deal on a new one. When the 07 models first came out i was up at the dealership looking for a used truck and they tried to sell me a new 6.7 for $31,000 without even bargening. It was just a basic 4x4 6speed but i bet you could get a good deal on what you want. MPG is another thing, i dont think they get that good. my buddy bought the same truck that they tried to sell me and he is only gettin about 13mpg. He is not very happy about that.

 

i almost bought an new 07 6.7L and test drove it a few times, they are nice, if you tow it has a lot of nice features and it has more power than my 06 but the emissions stuff is iffy but since you are in canada i'd take it off and have a great new truck for not a lot of cash JMO, i got the 06 cause i wanted better mileage mostly

 

I just purchased a used 2006 instead of a new 2008 because of the mpg, and overall cost. Rebates or not, a 2006 truck with 15K miles for $24K out the door vs a new 2008 for $34K out the door, I'll let someone else eat the depreciation.

 

$13k in penalties? Holy cr....set fire to it....

j/k

 

Buying it out for 36k , I purchased my 06 w/ 15k on it for 27k

 

I am in the same boat as you. My lease comes due in August but I will only be over by about 15k kms. My buyout is similar to yours. I have also spent a lot of time considering which option is the best one for me. I have put enough accessories (gooseneck hitch, roll lock cover, PacBrake, etc.) that it would not make sense for me to buy a new one. I would love the new truck but my '06 is a good truck that has been cared for. It has been to the coast and back a few times with a 15k lbs. trailer and pulls it like a dream. I don't need more power but the 6 speed auto would be nice.

For now my plans are to buy out the '06 in August. That might change but I doubt it.

 

I really like my 6.7. I have driven it 13000 miles and not had one bit of trouble. It has plenty of power, even while towing. I have towed several times with a moderate load. The only problem I have with it is the emissions equipment on it. Since you are in Canada though, I would just remove it and enjoy another 5 - 7 miles per gallon. I don't understand how burning 50% more fuel is good for the environment. My mileage is about 12 or 13 empty and 10 or 11 while towing. My truck is lifted 6 inches and does have 37 inch toyo's though. So, stock should be considerably more. Hope this helps. Oh, I would buy this truck again.

 

I have an 06 and have always taken it to the dealer for service. The dealership is a really good to work with and I just don't have the time to service it. Everytime I go in the sales manager tries to talk me into a trade on a new truck. I thought about trading up on an 08 but I have talked to several people whom I feel are honest and all have reported MPG's in the 12-14 MPG range. On my 06 when it got to 20K miles it just seemed to improve. I thought maybe there was something in the code that caused the improvement. Well when I got to 30K miles same thing happened again. Power seemed smoother and MPG's got better. With almost 31K miles, hand calculated I am getting 18.8 miles per gallon for the last 1000 miles. I am really happy with that. So my point is, due to the price of fuel and the lower MPG's on the 08's I would stay with an 06. Seems like these trucks are made to go for lots of miles.

 

Hmm, I don't get it, what is it about Canada that makes people think our laws are any different than in the USA?

Here in the Vancouver area of BC we have emissions testing, they analyze your exhaust and have a good look at things, if any of the factory emissions equipment is missing its an instant fail. I don't think they test until the vehicle is 4 or 5 years old though.


As for the new trucks, my friend has an 07 that's been into the shop 3 times for some kinda problem to do with the pollution crap they have, my 06 has been trouble free for 2 years., I think the 5.9 is a better engine.

 

Thanks for the opinions guys. Ya, I know the buyout seems high, but two year ago, no one knew that the prices would drop so much. I made my deal base on the truck I wanted, for the payment my vehicle allowance covered, and I was happy about that. I though " I'll worry about the rest in 2 years..." so here I am. $13k in penalty is the difference between the 20,000 kms / year on the lease, vs 65,000 km / year that I actually put on (which I knew would be the case). If I look at it as I already have to pay $13,000 anyway, I'm really getting the truck for $23k, which doesn't seem so bad.

I like the 06, and the 20 mpg (average), so I'm leaning towards keeping it. It still has a lot of life left in it.

Thanks again for the thoughts.

 

The bottom dropped out 5 plus years ago.Been so long since I heard the word lease I forget folks still did them.Ask your accountant if you have one.