# Good time to buy a truck?



## Fisherman30 (Dec 5, 2018)

There's a dealership that has a brand new 2021 half ton truck in stock because of a manufacturing delay, customer's cancelled order, and the fact that no one buying new wants a 2021 model year, since the 2023's are out now. It's got a 5.7L V8, crew cab, towing package, luxury package etc. The truck is normally about $70k, and it's up for sale for $52k including taxes. And on top of that, I get about a $7k discount through work. I was thinking about trading in our SUV (worth about $25k) to put towards it. Gas is obviously very expensive right now, and this thing isn't exactly great on gas. My Wife and I have always wanted a cottage on a lake, but we were thinking we could get a truck, buy a camper eventually, and take it to a different lake each year and park it year round on seasonal lots. 

Talk me out of it lol


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## Plugging Along (Jan 3, 2011)

Do you really NEED one? Can you afford it, and how does it weigh against your long term goals? I think you have been trying to save or get out of debt over the year. Trucks are money sucks. 

Ours is $200 a tank every week or so. we live in Alberta with the cheapest gas. My spouse wants to go back to the suv because of gas prices.


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## AltaRed (Jun 8, 2009)

Based on what I recall of the OP's financial goals, it is the exact opposite of what I'd do, at least at this time. Build some net worth, get rid of more debt, etc. By the time one may want a camper and/or a truck, at least the truck will be a more competitive EV.

P.S. I never owned a new vehicle until after I had paid off the mortgage and had zero debt. I also waited until I could pay cash for the vehicle.


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## KaeJS (Sep 28, 2010)

Don't do it.


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## Fisherman30 (Dec 5, 2018)

All good points. I'll keep my eye on the prize and get this mortgage tackled and forget about the truck. Maybe I can find a cheap used $3-4k tent trailer that our existing vehicle can tow if I really want.


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## londoncalling (Sep 17, 2011)

I have done the math on the whole truck/camper/RV purchase. I have yet to find a scenario for me where it makes sense financially to buy in a shortened Canadian summer season. Anyone entertaining this should run the numbers to to get a comparison

Determine how many days a year you would use the purchase over the course of a season.
Take the cost of the of purchase, plus maintenance, plus license etc. Divide that number by the cost of cottage or RV rental. 

When I last ran the numbers on a newer camper trailer, it equated to about 85-90 days cottage rental just for the purchase. I already own a truck so that was not a factor. For me that would be about 6-7 years of camping just to break even. Sadly, I do not get a lot of time of in the summer months. 

Like the previous posts, I don't think this purchase, although likely a deal, aligns with your longer term goals. I would agree that a used tent trailer may likely provide the same enjoyment for you and the family. As you know there are a lot of great places to explore around Winnipeg. I am expecting many used campers to become available over the next while as people bought during the pandemic when they couldn't travel further from home. They are likely to go back to holidays of a different manner. Inflation will also cause some folks to reconsider spending habits and thus the camper no longer is near and dear to them. 

Similar to home ownership/vacation the decision is more about lifestyle and enjoyment than strictly finances.


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## ian (Jun 18, 2016)

Too many people waste a great deal of money by purchasing ‘great deals’ that they cannot really afford and/or great deals that make no financial sense for the individual.


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## KaeJS (Sep 28, 2010)

Something is only a "great deal" if you were already going to buy the product at the regular price.

The key is making sure you could afford the regular price to begin with. Only then does it become a deal.

Buying something because it's on sale is not a deal. That's called impulsive spending of money.

On another note: some stocks are on sale right now. It's always a good idea to buy those


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## MK7GTI (Mar 4, 2019)

I'd buy it but hey, I like trucks. 

I, can't for the life of me understand why people buy campers though. Two of my good friends each have 150-200k into their respective truck/camper set ups.


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## james4beach (Nov 15, 2012)

Plugging Along said:


> Ours is $200 a tank every week or so. we live in Alberta with the cheapest gas. My spouse wants to go back to the suv because of gas prices.


Don't some of these SUVs have pretty good towing capacity?

(I'm not an SUV owner though, not my expertise)

I think it's good to think about one's environmental impact as well. Owning a gas-guzzling truck and blowing through that much gas isn't just expensive, but it makes you a high CO2 emitter causing a lot of environmental impact. I realize that some people don't care about this at all, but personally I don't want to be a big contributor to the global climate catastrophe. It's an ethical concern, out of consideration for my future, and everyone else's.

This is a big reason I would always choose the smaller, less gas-hungry car whenever I have the choice.


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## Fisherman30 (Dec 5, 2018)

Good points, everyone! I'm going to take the money I would have spent on this truck and start doubling my mortgage payments instead.


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## KaeJS (Sep 28, 2010)

Fisherman30 said:


> Good points, everyone! I'm going to take the money I would have spent on this truck and start doubling my mortgage payments instead.


Great idea.


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## ian (Jun 18, 2016)

Good choice.

Why spend and/or borrow money on a depreciable asset when you can pay down down your debt?


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## damian13ster (Apr 19, 2021)

MK7GTI said:


> I'd buy it but hey, I like trucks.
> 
> I, can't for the life of me understand why people buy campers though. Two of my good friends each have 150-200k into their respective truck/camper set ups.


My family owns one. It makes great sense if you travel for a long time and camp frequently. They get around 40 days per year by the lake, plus once a year longer (10 days or so trip).
Plus, when they retire in around 3 years they plan to spend first 2 years touring north america with it. 
The RVs also lose value much slower than other vehicles. Overall, for them it made sense financially and taking into account the pleasure and convenience. I imagine the math is even more favorable for snowbirds.


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## Plugging Along (Jan 3, 2011)

james4beach said:


> Don't some of these SUVs have pretty good towing capacity?
> 
> (I'm not an SUV owner though, not my expertise)


We have had a small SUV (CRV),larger MDX, a smaller truck and the current stupidly large truck. The MDX could have towed, but we never did. We did tow with this truck twice, but honestly, unless you do it enough it's not worth it for day to day. 

It just really depends on what the needs are for the family. I am currently driving a smaller Versa, and I really miss my SUV. I will be getting a smaller one when kid starts driving soon. Honestly, I don't think most people need a big truck.


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## londoncalling (Sep 17, 2011)

damian13ster said:


> My family owns one. It makes great sense if you travel for a long time and camp frequently. They get around 40 days per year by the lake, plus once a year longer (10 days or so trip).
> Plus, when they retire in around 3 years they plan to spend first 2 years touring north america with it.
> The RVs also lose value much slower than other vehicles. Overall, for them it made sense financially and taking into account the pleasure and convenience. I imagine the math is even more favorable for snowbirds.


100%

At 50+ days a year it makes sense from both a financial and enjoyment perspective. If one plans to do extensive travelling and does not want to go to the same place year in and year out it also tips the scales in that direction. I know many snowbirds that have gone this route. I even know of one couple that live in their motorhome year round. For those working full time with limited time off this purchase can limit vacation options. Definitely not ideal to paying for a camper and then fly off somewhere for you annual vacation time. Again, if one can afford it then why not.

It's like people saying buying a new vehicle is a bad use of money. I would disagree. If one does not plan to trade in a couple years it can make sense. We bought both our vehicles new and have owned them both for almost a decade each. We know its history and make sure we maintain it properly. We also don't put on a lot of kms annually so maintenance costs are low. If one is is not mechanically inclined it may make even more sense to buy new then take your chances with someone else's driving and maintenance habits.


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## Fisherman30 (Dec 5, 2018)

londoncalling said:


> 100%
> 
> At 50+ days a year it makes sense from both a financial and enjoyment perspective. If one plans to do extensive travelling and does not want to go to the same place year in and year out it also tips the scales in that direction. I know many snowbirds that have gone this route. I even know of one couple that live in their motorhome year round. For those working full time with limited time off this purchase can limit vacation options. Definitely not ideal to paying for a camper and then fly off somewhere for you annual vacation time. Again, if one can afford it then why not.
> 
> It's like people saying buying a new vehicle is a bad use of money. I would disagree. If one does not plan to trade in a couple years it can make sense. We bought both our vehicles new and have owned them both for almost a decade each. We know its history and make sure we maintain it properly. We also don't put on a lot of kms annually so maintenance costs are low. If one is is not mechanically inclined it may make even more sense to buy new then take your chances with someone else's driving and maintenance habits.


Yes, I would agree it sometimes makes sense to buy new, especially if you are getting a sensible vehicle, and you get a good deal on it. I bought a 2013 Toyota Corolla brand new. It was the previous model year, they were desperate to get it off the lot, and I got it for $23k all in. I figure I could get $14k for it if I sold it today, but I plan to keep it at least another 5-10 years.


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## nobleea (Oct 11, 2013)

There's been a few comments on how environmentally unfriendly it is to fill up a tank with $200+ gas. Keep in mind that the tank sizes are much larger in a truck. Our full size truck gets the same or better gas mileage as a mid sized SUV. And much better when towing anything.

Cost me $225 to fill up my tank today. But I could drive from Edmonton to Victoria without filling up.

The deal you mentioned is actually a pretty good one given the market (unless it's a dodge, which seem to depreciate faster). If you were always planning on buying one and need one, then sure go for it. If it's just trying to take advantage of an opportunity because it's a good deal, then no.

I can't understand campers. Most are too small for even a couple. Get a bumper pull trailer if you plan on doing it a lot. Good used one is probably 8K.


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## peterk (May 16, 2010)

I'm getting a minivan as a 2nd vehicle, and then when our mid-size SUV dies - am thinking more and more about a small truck (Ranger, Tacoma, etc.) The small truck can do 80% of what the big truck can.

Honestly though pretty much nothing beats a full size truck for utility and passenger space for the 1st and 2nd row seating. 2nd row is insanely spacious in a full size truck. Plus towing, off-roading (median or curb hopping for city folks), huge gas tank available for 1000km, yard work hauling (dirt, equipment), and large furniture moving.

Only negatives is the size (hard to get in the garage), maneuverability in the city, and cost.


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## james4beach (Nov 15, 2012)

nobleea said:


> There's been a few comments on how environmentally unfriendly it is to fill up a tank with $200+ gas. Keep in mind that the tank sizes are much larger in a truck. Our full size truck gets the same or better gas mileage as a mid sized SUV. And much better when towing anything.


Ok that's a very good point. The mileage is the real concern.

Very interesting that your full size truck gets comparable mileage to a mid size SUV!


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## Fisherman30 (Dec 5, 2018)

james4beach said:


> Ok that's a very good point. The mileage is the real concern.
> 
> Very interesting that your full size truck gets comparable mileage to a mid size SUV!


Some trucks are becoming much more reasonable. The new Toyota Tundra with twin turbo V6 gets 10.6 L/100 km. And it's still quite capable. 389 horsepower and 479 lb-ft of torque. Also, the rear seats in the crew cab provide more space than a mid size SUV.


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## AltaRed (Jun 8, 2009)

While I recognize you are quoting combined economy, you won't see it since most of its life will be around around town, picking up kids from school, at the supermarket or mall parking lots. It will be more like 13-15l/100km in a real life test. One cannot sugarcoat the bulk and weight of those things relative to midsize SUV weighing less than 70% as much. The math doesn't work.


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## AlwaysMissingTheBoat (8 mo ago)

Fisherman30 said:


> Yes, I would agree it sometimes makes sense to buy new, especially if you are getting a sensible vehicle, and you get a good deal on it. I bought a 2013 Toyota Corolla brand new. It was the previous model year, they were desperate to get it off the lot, and I got it for $23k all in. I figure I could get $14k for it if I sold it today, but I plan to keep it at least another 5-10 years.


It's true that you can periodically find a great deal with an overlooked vehicle from the previous model year. I bought a 2012 Dodge Charger R/T fully loaded from a dealer for $33,000 during the summer of 2013. The MSRP was $42,000. Say what you will about Chrysler, but I LOVED driving that car. Smooth as silk, great suspension, plenty of power. But it was almost useless in the winter. Needed an awfully expensive set of winter tires and I had to load the trunk with sandbags to improve the traction because it was a rear-wheel drive. 

I wound up selling it three years later for $24,000.

One thing I dislike about buying new, even with a good deal, is agonizing over every little scratch and ding. Not everyone fusses over that, but I do. I've purchased used vehicles ever since that Charger and it's easier on my mind knowing that there are already flaws in it so the odd mark showing up here and there doesn't get me bent out of shape.


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## Ukrainiandude (Aug 25, 2020)

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https://flic.kr/p/bDHFRU


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https://flic.kr/p/bSCq6k


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## AlwaysMissingTheBoat (8 mo ago)

^^ @Ukrainiandude, I thought for sure you'd pop up in this thread to promote this outstanding utility vehicle:




http://imgur.com/rMF8pQ0


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## damian13ster (Apr 19, 2021)

AlwaysMissingTheBoat said:


> ^^ @Ukrainiandude, I thought for sure you'd pop up in this thread to promote this outstanding utility vehicle:
> 
> 
> 
> ...


How is the gas mileage?


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## AlwaysMissingTheBoat (8 mo ago)

damian13ster said:


> How is the gas mileage?


It doesn't really matter. If you're driving one of those things, you can haul away the fuel storage tanks! Any tanks, actually!


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## MK7GTI (Mar 4, 2019)

Gas mileage is definitely better than my Tacoma! 35s don't help though.


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## afulldeck (Mar 28, 2012)

Fisherman30 said:


> Some trucks are becoming much more reasonable. The new Toyota Tundra with twin turbo V6 gets 10.6 L/100 km. And it's still quite capable. 389 horsepower and 479 lb-ft of torque. Also, the rear seats in the crew cab provide more space than a mid size SUV.


Yes Trucks aren't the enemy, most of the newer versions get reasonable gas mileage when compared to other larger vehicles like SUVs. I was actually surprise how good the mileage was with my truck--and I get a 900+ Km range.


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## nobleea (Oct 11, 2013)

AltaRed said:


> While I recognize you are quoting combined economy, you won't see it since most of its life will be around around town, picking up kids from school, at the supermarket or mall parking lots. It will be more like 13-15l/100km in a real life test. One cannot sugarcoat the bulk and weight of those things relative to midsize SUV weighing less than 70% as much. The math doesn't work.


Our F150 gets low 8's to mid 9's L/100km at reasonable hwy speeds. mid 10 to mid 11 L/100km in the city. It's comparable to a minivan, 7 passenger SUV.

The maverick, while not really a truck and more of a Ute, has a hybrid as standard powertrain and get 40mpg.


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## Fisherman30 (Dec 5, 2018)

I do like the F150. I think I'll keep saving, get all of my debt paid off (which should occur as soon as my condo sells), and I can reassess next year. Maybe with higher interest rates/inflation, and the fact that vehicle manufacturing will hopefully be caught up by next year, I might be able to get a really good deal on one in a year or so.


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## AltaRed (Jun 8, 2009)

The kinetic energy demands of accelerating and braking a 5500 lb vehicle in city traffic is a whole lot more than a 3500 lb midsize. I don't care how anyone characterizes it, urban driving of massive weight is an energy hog.

I fully agree highway driving has less to do with kinetic energy than it does drag and friction.


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