buying brand new

[AlaskaErik]

Originally Posted by mustangman66

I traded in my brand new truck earlier this year for a 12 year old SUV with 123K miles on it. Not only is it saving me money each month but it is fully depreciated and I could sell it tomorrow for more than I bought it for. Plus, its more enjoyable to drive.

But how much of a depreciation hit did you take on that new truck you traded in?

[mustangman66]

Originally Posted by AlaskaErik

But how much of a depreciation hit did you take on that new truck you traded in?

Believe it or not I got $1200 more on the trade than what I paid for the truck. When I bought it there were amazing incentives between both the dealer and the manufacturer and it paid off in the end.

[Ziggy100]

Originally Posted by mustangman66

I traded in my brand new truck earlier this year for a 12 year old SUV with 123K miles on it. Not only is it saving me money each month but it is fully depreciated and I could sell it tomorrow for more than I bought it for. Plus, its more enjoyable to drive.

I once traded an 11 year old, 150k mikes SUV in $1000 because I rolled into the dealership with a cracked head and 5 cylinders and I had just bought new tires before the head cracked. It had been paid off for years, but every other feature didnt work, I didn't trust it outside the city limit, the last few months cost me a transmission rebuild and a leaf spring replacement, before learning about the cracked head. Needless to say I didn't have much leverage on my trade.
I'm sure I still saved money in the long run, but not sure it was worth the hassle. Not only the questionable reliability, but it sucks getting surprised by $1000 here and $4000 there. At least a monthly payment is a set amount you can plan around.