Mod (Ret.)

All your points made are excellent observations for new truck purchases. However, should you go and trade that new purchase in within the next 3 to 4 years, do not expect to get a trade in value that trucks were getting the past few years. The dealers know what these new trucks are having to sell for to clear their lots, plus just getting an interested buyer in these tough times is also promoting lower selling prices. We all can be assured that the trade in prices on these 2008's are going to reflect what was paid for them when they were new. The used car market folks are no dummys. They won't be offering large trade in values on 2008's when the time comes.

It's all going to even out some day. Yep, no doubt there are great deals on new trucks, and those that want one should do everything in their power to step up; this economy won't be this way too much longer, as we went through a simular drop in the 80's (those of us old farts will recall). Just some additional thoughts to think about on the subject of new verses used.

As to the Ford verses Toyota, well you're on a Ford forum. Be realistic!

If "DAVID" wants my humble opinion, the quoted price for that 2007 ($21,500.00) is too high for these current times. I'd be marching out to another dealership. You answered your own question when you did your homework and found KBB is talking $17xxx range. That's a $4,500.00 profit to the dealer, on a used truck. Dealers are not seeing that kind of profit margin on a new truck right now.

dplummer87

You are correct about the trade value. The only reason I got 6 for my 05 was because I fought for it. Dont let the dealer push you around!

They originally wanted to only give me 5 for it. I told them no way, my truck was easily worth 6. Their excuse was that the new 08's were only going for like 11'500, I told them i dont care what the new one is going for, we're talking about the value of the truck, not what you can sell it for. The truck is worth 6 and thats what I want in trade in other wise I would hop back in the dodge that I was test driving and take it back.

(Yes, I picked up a dodge 5.7 hemi mega cab 4x4 and took it to ford dealership to park it next to the Fx4 )

You should have seen the look on my sales reps face when I showed up in it and asked them to pull the Fx4 i was looking at out..

Hokie_PhD

I agree with you, but I guess I didn't mention that I tend to keep vehicles until the wheels fall off. So trade/resale value means little to me. Guess I forgot that others don't think this way!!!! In other words if I get anything more than scrap value then I'm doing good! So what I'm saying is that if you're buying a truck, use it. Don't look at it as something you're going to buy use for a year or two and not take a huge financial hit on. A truck is a tool not an investment. Now with that said, the flip side of that is to buy a quality truck that will last more than 5 years (or the length of the loan) and keep driving/using it until it becomes more expensive to keep than to maintain. (but if you've been doing routine maintenance this shouldn't be an issue until real high mileage - if ever)

As for the Ford/Toyota thing I agree I'm biased but if you haven't seen the "Truth about Trucks" videos it's really amazing, and something that you should see, as should anyone considering a truck. Now granted it's coming from Ford, but they use an actual Toyota in the videos and show how poorly made those things are. And I'm not talking about reliability, but poor design. (and I could go into the quality thing but that's a whole different discussion and off topic here, but not something I can support via the videos) The one that I'm still laughing over is how Toyota puts the tow hooks under the front bumper in a way that if you use them, you'll highly likely to damage the front bumper. Dumb, Dumb, Dumb. I don't know if they think their trucks are so good you'll never get stuck, but even then maybe you need to tow someone! Or what about using the hooks for other reasons, I've used trucks to secure thing or pull things. And something tells me I can't be the only person in the world that does this! (as for the video, and laughing, warning the guy's laugh is REAL annoying)

Mod (Ret.)

Good points brought up about resale value not being an issue if you plan to keep the truck. I too hold on to a vehicle for quite a bit of time. My prior ride was a 1984 VW Vanagon camper. Bought it while working in Germany 7 years ago. It had 73K on its odometer, and sold it recently to buy my current ride (2005 Ford F150 SXT). That VW had 174K on it when I sold it. Still had the original engine and transaxle. As you stated, performing routine maintenance is key to longentivity. The truck has 74K showing, and for me, that's not even broke in yet! It has been a long time since I've bought new; I just hate the idea that as soon as I drive off the lot with a new vehicle, it depreciates by about $3,000.00 to $5,00.000. For the last 15 years or so, the market has always had a good supply of 3 to 5 year old clean, low mileage vehicles that have already suffered the depreciated value. Trucks were always a concern for me, as they are known to be beaten up somewhat (thats why they are made). When my company relocated me to Texas, I figured when it was time to give up the VW (no air conditioning and sloooow!), I looked at the trucks; this state is big on trucks! There where so many clean late model trucks on the lot, I could not pass up the deal I got on the one I bought.

Your other point about a truck being a work vehicle is also a good point that I overlooked when I made my comments. It truly is a good time to buy a truck these days, both new or used, as the prices have never been lower. So if you have the plan to keep it "until the wheels fall off", you are at a good advantage, as you won't care about trade in values in the future.

I'd still pass on that one used truck though; you can do right at the same deal on a new one.