Well...I don't know...but maybe.

My wife and I have been exploring different options to get our monthly bills down. One option that would help is to lower the high truck payment we currently have.

Now...I don't NEED a one ton truck and I don't NEED the mighty Cummins (although I sure have grown to love it). I rarely tow anything heavier than 3,000 pounds and my box is empty 99% of the time. My driving is mixed highway/city. Basically, I bought my current truck because it was what I WANTED. That said, I have to have a truck simply because I hate cars.

I've been looking at a used.....(gulp)....GMC Sierra Z71. When it comes to gassers, it is my personal opinion that GM makes a better vehicle then both Ford and Dodge. So, if I'm gonna go back to driving a gasser then a GM product is probably what I'll get.

I found an '02 that looks pretty clean for $16K (that's what they're asking but I think I can get them down lower). Problem is that it has 86,400 miles on it. I realize that's a lot of miles, but I also realize that there could also be a lot of trouble free miles left on the truck.

So....I guess here's where I'm asking for you input. First of all, is it stupid to even look at a truck with 86,400 miles on it? Second, from what I've found on Kelly Blue Book and Edmunds.com, $16K is a pretty good price (lower than both listed for dealer retail). What do you guys think would be reasonable for me to get the dealer to come down to?

 

Have you considered a 2nd Gen (read used) with a CTD?

Rich

 

Hoss,

I was in charge of vehicle maintenance for a rather large environmental company, and based on my experience with the problems of all three(Dodge, Ford, GM) I would stay away from any GM. JMHO

Good luck.

 

Hey Rich.

I have considered getting a 2nd Gen CTD, and in fact I've inquired about a couple in my area. The problem with them is that either they are more than I want to pay or they have way too many miles on them.

 

If you don't mind my asking, why do you say that?

 

Hoss, you're taking a gamble there. I wouldn't touch a used 4x4 without knowing it's history and owner. A friend of mine got the short end of the stick with a used '00 Z71. So far he replaced the tranny, abs module and water pump. And it has the CSK.
I would figure a way of keeping the current truck.

MikeyB

 

Hoss, the price of the vehicle isn't what you should really be looking at. It is the monthly payment that matters.(If I'm reading correctly) Now keep in mind that you will still have to give some kind of $$$ down on whatever you buy and the finance rate on a used vehicle is much higher than a new one. Banks usually want about 20-25% down on a used vehicle. Having said that, I think you may be looking at close to the same payment that you have now after you also factor in what you lose on the trade....

You may want to keep it....

 

The GM's in the fleet were constantly eating trannies and rear axles.

 

Have you reconsidered refiancing your truck for lower payments? Are getting a Line of Credit loan on your home and paying off all your bills with it?

 

Hoss,



With a couple of years worth of payments behind you, you should consider refinancing your current truck, which should solve most of your problem. Or, if you own your home you could finance it on a home improvement loan. This will mean lower interest rates, interest that you can wright off on your taxes, and most importantly, you get to keep your concrete bedliner.................

 

Hoss I refinanced mine though Costco.
Saved a bunch o money by changing from a 12% to a 4% interest rate.

 

Well....the monthly payment is sort of determined by the price of the vehicle. I get what you're saying though. IF I were to buy this truck for what they're asking right now, it would save me between $100 and $150 a month.

 

oops SBishop types faster than me...great minds think alike....

 

I've looked into that. Refinancing wouldn't do much for me. It's hard to beat the interest rate I already have.

 

Loss on the trade and what intrest rate are you gonna have on a used. You're gonna be making payments on something you're gonna be putting repairs into. I don't know if the '00 is tha same block as the '97, but your reaching the point of needing an intake maniflod gasket and water pump. Luckily mine went after 100,000, but all the others I know of were prior to 100,000. Also get ready to dump $400-500 in sensors. Ask your insurance rep if that would even go down much at all. I applaud you in trying to gat away from the banks, but I don't think going into dept on another vehicle is tha way, myself. Kind of in the middle of that right now. After you get some into savings for some repairs, you might think about saving and paying cash on something older, then selling yours outright.