Thinking about a new/used vehicle...or should we wait?

Colleen

Colleen

Senior Member
Location
Pennsylvania
We have been thinking about trading in our 2016 truck on either a new one or a newer used one. Our truck is in excellent condition. We bought it in AZ so no rust. It's garaged and it has 56,000 miles on it. We bought it in 2018 with 32,000 miles so we haven't put many miles on it. We paid cash for it so no outstanding balance.

According to KBB, it's valued at around $19,000 on a new vehicle. Hubby thinks we should go to the dealer that we've always dealt with and get a true trade-in price and look at the new trucks and get some figures to think about and see where we are budget-wise. We haven't had a car payment in 4 years and we're a little gun shy. There's also a couple used trucks that he's interested in. They're 2020's, low mileage, but not that much lower in price then a new one.

All you guys out there...what would you do? Wait for a while? There's no rush for us to do this. We know the value on our truck is going to go down the longer we wait. Last summer, we could have gotten $21,000 when everyone was looking for used vehicles. I just need some feedback :)
 

I think if your current truck is running well and you can keep it free of salt and corrosion, just keep it and treat it well. You will save yourself a lot of money, even if you have to invest in repairs from time to time. There are horror stories of people spending 60k or more on a brand new truck only to have all kinds of problems.
 
Michael Z said:
I think if your current truck is running well and you can keep it free of salt and corrosion, just keep it and treat it well. You will save yourself a lot of money, even if you have to invest in repairs from time to time. There are horror stories of people spending 60k or more on a brand new truck only to have all kinds of problems.
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Thanks :)
 

Given the current shortages/prices of vehicles, the longer you wait, the better the chances of saving some money. Most of the financial "guru's" are calling for a recession this Spring....and that should lead to car dealers lots filling, and induce them to offer better prices. Sure, your current vehicle would be worth less, but the overall difference in costs may be substantially lower.
 
I would keep it because you know it’s reliable and really expensive to upgrade. I too think prices will come down. I unfortunately understand the urge to buy a new vehicle as I get it occasionally but resist it.

I drive a 15 year old Toyota Corolla with 67k miles and it will probably outlast me unless someone totals it. It’s never needed a repair other than routine maintenance such as oil, brakes, tires, etc. When I looked it up that was one of the best years to buy that car.
 
Colleen said:
We have been thinking about trading in our 2016 truck on either a new one or a newer used one. Our truck is in excellent condition. We bought it in AZ so no rust. It's garaged and it has 56,000 miles on it. We bought it in 2018 with 32,000 miles so we haven't put many miles on it. We paid cash for it so no outstanding balance.

According to KBB, it's valued at around $19,000 on a new vehicle. Hubby thinks we should go to the dealer that we've always dealt with and get a true trade-in price and look at the new trucks and get some figures to think about and see where we are budget-wise. We haven't had a car payment in 4 years and we're a little gun shy. There's also a couple used trucks that he's interested in. They're 2020's, low mileage, but not that much lower in price then a new one.

All you guys out there...what would you do? Wait for a while? There's no rush for us to do this. We know the value on our truck is going to go down the longer we wait. Last summer, we could have gotten $21,000 when everyone was looking for used vehicles. I just need some feedback :)
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Refer to the text in bold, as reasons for keeping the truck. I don't recall you mentioning the make?
 
Colleen said:
We have been thinking about trading in our 2016 truck on either a new one or a newer used one. Our truck is in excellent condition. We bought it in AZ so no rust. It's garaged and it has 56,000 miles on it. We bought it in 2018 with 32,000 miles so we haven't put many miles on it. We paid cash for it so no outstanding balance.

According to KBB, it's valued at around $19,000 on a new vehicle. Hubby thinks we should go to the dealer that we've always dealt with and get a true trade-in price and look at the new trucks and get some figures to think about and see where we are budget-wise. We haven't had a car payment in 4 years and we're a little gun shy. There's also a couple used trucks that he's interested in. They're 2020's, low mileage, but not that much lower in price then a new one.

All you guys out there...what would you do? Wait for a while? There's no rush for us to do this. We know the value on our truck is going to go down the longer we wait. Last summer, we could have gotten $21,000 when everyone was looking for used vehicles. I just need some feedback :)
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If it ain't broke, why?
 
It's the middle of winter and there's not a lot to do, so shopping for a new ride would be a good way to not only pass the time, but gain some knowledge on what's out there. Sales are slow this time of year too so they're eager to move vehicles. The first price you get from a dealer is not the final price, so make them sweat a little. Look around. Have fun.
 
Chet said:
It's the middle of winter and there's not a lot to do, so shopping for a new ride would be a good way to not only pass the time, but gain some knowledge on what's out there. Sales are slow this time of year too so they're eager to move vehicles. The first price you get from a dealer is not the final price, so make them sweat a little. Look around. Have fun.
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I like doing that but there is one BIG problem, at least for me.

Temptation and low resistance! Maybe that's 2 problems. :eek:
 
Michael Z said:
Excellent point. If this is an “extra” vehicle, you could easily get another 15 or more years of reliable use, with frequent washing, storage, and maintenance. Based on your mileage, it appears this is not your main vehicle.
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It IS our only vehicle. We always had 2 vehicles but 2 years ago, we got rid of my car because I hardly drove it. It was a 2017 Nissan Rogue and only had 4,000 miles on it when we sold it in 2020. We didn't see the sense in paying insurance and registration and license for a car that was hardly used. Loved that car, though, and it was easier for me to get in and out of then the truck :)
 
Nathan said:
Refer to the text in bold, as reasons for keeping the truck. I don't recall you mentioning the make?
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It's a Nissan Frontier crew cab SV. We've had BIG trucks in the past (2 Dodge dually's to pull a 40' fifth-wheel), but we don't need a big honkin' truck any more.
 
Farrah Nuff said:
There’s no harm in looking, just leave your checkbook at home. Money, they say, can’t buy happiness but if a new truck would bring happiness closer to you than it is right now, who cares what “they” say?

You might look at this page to see the best months to buy a truck.
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Thanks for the article. January is not a good month to buy, according to Car & Driver. We're going to wait. No need to buy a new one and it's too tempting to go to a dealership. Know what I mean??
 
Colleen said:
We have been thinking about trading in our 2016 truck on either a new one or a newer used one. Our truck is in excellent condition. We bought it in AZ so no rust. It's garaged and it has 56,000 miles on it. We bought it in 2018 with 32,000 miles so we haven't put many miles on it. We paid cash for it so no outstanding balance.

According to KBB, it's valued at around $19,000 on a new vehicle. Hubby thinks we should go to the dealer that we've always dealt with and get a true trade-in price and look at the new trucks and get some figures to think about and see where we are budget-wise. We haven't had a car payment in 4 years and we're a little gun shy. There's also a couple used trucks that he's interested in. They're 2020's, low mileage, but not that much lower in price then a new one.

All you guys out there...what would you do? Wait for a while? There's no rush for us to do this. We know the value on our truck is going to go down the longer we wait. Last summer, we could have gotten $21,000 when everyone was looking for used vehicles. I just need some feedback :)
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Quote
"It's garaged and it has 56,000 miles on it. We bought it in 2018 with 32,000 miles so we haven't put many miles on it."

It's really low mileage transportation. Are you basing the purchase of something else on "need" or "want"?

Need being the present is costing a lot in repair & can no longer get you to point A & back as when you 1st. bought it?

Want being you just want one?

"Quote"
"There's also a couple used trucks that he's interested in. They're 2020's, low mileage, but not that much lower in price then a new one."

Only you know if it's a want or need. Your money to spend anyway you choose.

Being frugal & only needing to get to point A & back as cheaply as possible works for me. I'd rather spend vehicle payments on fun stuff.
 
Colleen said:
It's a Nissan Frontier crew cab SV. We've had BIG trucks in the past (2 Dodge dually's to pull a 40' fifth-wheel), but we don't need a big honkin' truck any more.
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I like the Nissan trucks! With only 56K miles it should serve you well for years.

Here's something to consider: with new vehicles there will be more and more electronics, that's OK, usually means more safety and functionality.
I have a 2019 Toyota Tacoma that have loads of electronics that quite frankly, I could live without. But, it's probably going to be the last vehicle I buy, in my lifetime. My wife has a 2010 Subaru Forrester, 87K miles and a fading paint job and some body dings. We've decided to give the Subaru a refresh, and fix all the discrepancies, rather than buy a new Forrester, which will have even more bewildering electronics.
 
Colleen said:
We have been thinking about trading in our 2016 truck on either a new one or a newer used one. Our truck is in excellent condition. We bought it in AZ so no rust. It's garaged and it has 56,000 miles on it. We bought it in 2018 with 32,000 miles so we haven't put many miles on it. We paid cash for it so no outstanding balance.

According to KBB, it's valued at around $19,000 on a new vehicle. Hubby thinks we should go to the dealer that we've always dealt with and get a true trade-in price and look at the new trucks and get some figures to think about and see where we are budget-wise. We haven't had a car payment in 4 years and we're a little gun shy. There's also a couple used trucks that he's interested in. They're 2020's, low mileage, but not that much lower in price then a new one.

All you guys out there...what would you do? Wait for a while? There's no rush for us to do this. We know the value on our truck is going to go down the longer we wait. Last summer, we could have gotten $21,000 when everyone was looking for used vehicles. I just need some feedback :)
Click to expand...
I purchased my 2002 Honda CR-V about 8 years ago for $4,000 it had only 99k miles on it. I've spent maybe $4,000 more in repairs and routine maintenance over the last 8 years. It now has 126k miles on it. It's 22 years old still Looks great and runs just fine. My mechanic says it will likely easily go another 100k miles.
Sometimes I think I should buy a newer SUV, then I see the prices at $45,000 plus and rethink my priorities. I'm 71 years old and don't drive that much these days. Mostly on drive around town locally or shopping or just taking me and my dog out for a car ride and a drive through fast food burger. All is well. Love my old SUV.
 
Nathan said:
I like the Nissan trucks! With only 56K miles it should serve you well for years.

Here's something to consider: with new vehicles there will be more and more electronics, that's OK, usually means more safety and functionality.
I have a 2019 Toyota Tacoma that have loads of electronics that quite frankly, I could live without. But, it's probably going to be the last vehicle I buy, in my lifetime. My wife has a 2010 Subaru Forrester, 87K miles and a fading paint job and some body dings. We've decided to give the Subaru a refresh, and fix all the discrepancies, rather than buy a new Forrester, which will have even more bewildering electronics.
Click to expand...
I was given a new Forester as a loaner when my Impreza was getting work done, and it felt like I was not in control of it. It had some kind of lane assist as if it wouldn't allow me to steer, it braked at odd times and gave off warnings I didn't understand.
 

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