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  1. #1
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    Time to buy a truck/SUV

    I'm happy with my 04 Honda Accord and it's 3 months from being paid off but having said that, it seems to be a great time to buy a truck or SUV. Even at $4/gallon it's hard to argue with the prices.

    I was out on Edmunds.com and people are talking about getting $10K off trucks like the Honda RidgeLine, Nissan Titan, some Nissan SUV's, Toyota Tundra, and nearly every SUV/Truck that GM, Ford, or Chrysler makes.

    Just for comparison sake.

    2008 Honda Civic $20K, 15K miles per year, 30mpg=$2,000/year gas costs

    2008 Honda Ridgeline $20K (30K sticker), 15K miles per year, 18mpg= $3,300/year

    So you'd pay roughly $1,300/year to drive a vehicle that is worth $10K more.

    Let's say you drove it for 5 years and put 60K miles on it.

    Civic
    $8,000 fuel cost
    $20,000 car
    $13,000 resale
    $15,000 total cost


    Ridgeline
    $13,333 fuel cost
    $20,000 truck
    $15,000 resale
    $18,333 total cost

    So you end up paying roughly $3K more to drive a ridgeline.

    The big question marks are where gas prices are going and what are resale values going to be like in 5 years on a vehicle that gets 18mpg?



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    Re: Time to buy a truck/SUV

    If fuel prices continue to rise I somehow doubt that 15k resale is going to stick



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    Re: Time to buy a truck/SUV

    I'd much rather steal someone else's $15,000 truck for $7500, just so they can buy a $32,000 hybrid that gets 10 mpg more per year.

    That makes even better financial sense to me.

    Myself, I'm buying a midsized sedan, next. They just make sense, right now.


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    Re: Time to buy a truck/SUV

    I'm of the opinion that while we may see gas prices fall back a bit in the near future, over the next few years I think they will just keep climbing. Not like we have seen in the last few months, but I think they will keep going up.

    If that assumption holds, the difference in fuel prices in your 5 year scenario are going to get bigger, and you are going to have an awful hard time getting $15,000 resale on the Ridgeline.

    Dealers are already having a tough time selling these larger cars now, while the value of some small used cars is holding very close to the new car price, what happens at 5, 6, or $7 per gallon? If I really needed a truck I would buy one, there are certainly some price cuts to be enjoyed, but I wouldn't be looking to buy just to get a deal. In the long run I think it may end up not being the deal it appears to be today.



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    Re: Time to buy a truck/SUV

    i dont know about 10 g's off. my dad is trying to find a truck after his old one caught on fire and cannot find anything 2000 or newer for the price he wants.



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    Re: Time to buy a truck/SUV

    Keep in mind that I have no intention of buying a truck/suv but if I was in the market this may have changed my mind. About 6 months ago we bought my wife a Nissan Rogue and it was only discounted a couple of thousand. If I could have gotten her a 30-35K SUV for the same price and only lose a few mpg then I would have went that route.



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    Re: Time to buy a truck/SUV

    I got a 2008 Ridgeline back in April and absolutely love it. When they first came out, I thought they looked like an Avalanche only in a smaller version. I originally was going to get a Colorado/Canyon but after driving both, the Honda is more of a truck to me. 250 hp V6, more the size of a 1/2 ton pickup, more room and the trunk in the bed of the pickup is SWWEEEEETTT! By the way the trunk has a drain plug in it so I can't wait to use it this fall by filling it with ice and our beverage of choice and eliminate bringing a cooler. Then take out the plug and it drains out during the game. Also, it's a Honda so you know the resale is there.

    Plus, I have right at 3,000 miles on it and had to go up north to Britt a couple weekends ago. Averaged 21 mpg on mostly highway miles and average 16-18 around town. They say it takes between 5-10,000 miles before they are broke it and mileage should increase till it's broke it. I doubt it will get much better but another 2-3 mpg should be reachable I hope.



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    Re: Time to buy a truck/SUV

    Quote Originally Posted by Phaedrus View Post
    I'd much rather steal someone else's $15,000 truck for $7500, just so they can buy a $32,000 hybrid that gets 10 mpg more per year.

    That makes even better financial sense to me.

    Myself, I'm buying a midsized sedan, next. They just make sense, right now.
    I agree. I went car shopping. I will be moving and driving 5 times further for work. I looked at fuel economy only. These small, little body bag type cars. I was shocked. They get less than 10 mpg better gas milage than my 2000 Buick Le Sabre. I just took a trip with my Buick. Drove about 1300 miles. I got 31 mpg average. While most was on the highway, I spent 3 weeks in one city and still averaged that. This is a reasonably comfortable car. I ran the A/C the whole time. Now how can I justify trading a Buick for a small, uncomfortable car for less than 10 mpg more. Mind you, I was not looking at Hybrids. I think maintenance on them over 10 years will cost much more and will make them less economical. I also drive a full size truck, because I often have to haul large items. But mine is a 1990 F150 with a 6 cylinder and gets about 19 mpg.



  9. #9
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    Re: Time to buy a truck/SUV

    Quote Originally Posted by FDCy83 View Post
    I agree. I went car shopping. I will be moving and driving 5 times further for work. I looked at fuel economy only. These small, little body bag type cars. I was shocked. They get less than 10 mpg better gas milage than my 2000 Buick Le Sabre. I just took a trip with my Buick. Drove about 1300 miles. I got 31 mpg average. While most was on the highway, I spent 3 weeks in one city and still averaged that. This is a reasonably comfortable car. I ran the A/C the whole time. Now how can I justify trading a Buick for a small, uncomfortable car for less than 10 mpg more. Mind you, I was not looking at Hybrids. I think maintenance on them over 10 years will cost much more and will make them less economical. I also drive a full size truck, because I often have to haul large items. But mine is a 1990 F150 with a 6 cylinder and gets about 19 mpg.
    My dad has a 3.8 L Le Sabre and he says the same thing.

    The thing that they don't figure in to buying the small car, is that once you get past the smaller mid-sized cars, the itty bitty cars just cannot be repaired to the extent the larger ones can. They are basically "disposable" cars that you throw away when XYZ goes wrong with them.

    I had a Geo Metro that I had to junk because the rear end went out of alignment. I kid you not, nothing you can do to fix it, and it's unsafe to drive out of alignment.

    I, too, will need a full-size truck in the next few years, and am looking for a reasonably good shape F150 with the 300 c.i.d. 6. With the right rear end, that sucker will get in the 20s. They run absolutely forever.


    Last edited by Phaedrus; 07-22-2008 at 10:17 PM.
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  10. #10
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    Re: Time to buy a truck/SUV

    I just bought a Honda Ridgeline .... GREAT PURCHASE.... I love it.

    Sticker price 2006 36,000

    I just paid 19,000 with only 25,000 miles.


    Last edited by ajk4st8; 07-22-2008 at 10:46 PM.

  11. #11
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    Re: Time to buy a truck/SUV

    If you are low on cash, one of the best cars out there that you can buy CHEAP and still be somewhat economical in terms of gas prices are 90's Buick's with the 3.8L engine. They are very comfortable cars, low maintenance, and get 25-30 MPG. You can pick up a pretty nice one for $1500-3000, depending on the year. The 3.8L is built like a tank, they drive forever. I had a 93 Park Avenue that was very comfortable and got about 25-26 MPG. I traded it in for a pickup that gets 15......



  12. #12
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    Re: Time to buy a truck/SUV

    Here is a bit of an insiders run down on suv/truck prices right now.

    Tucks have fallen significantly in the past 45 days but may come back towards winter time due to how many automakers are cutting their truck production significantly. Trucks in the $10,000 to $15,000 range have held a bit stronger. High teens and over $20,000 trucks have been hit harder.

    Big luxury suvs like the Tahoe LTZ, Navigator, and escalade have just been crushed as far as resale. I know of people trading and losing $20,000 for one year of ownership.

    Smaller Import suvs have not been hit much at all such as the CRV and RAV 4. These vehicles are very popular for export to the former soviet union and Eastern Europe so they are staying strong. Not a real good buy right now with such high demand.

    Larger import suvs such as the Acura MDX and the Honda Pilot are in the dumps on the wholesale market probably due to their aggressive MSRP to begin with. Many retailers have these sitting on their lots for big prices, and they are gathering dust but the dealers own them for so much money they are unable to take the loss and sell them.

    Smaller domestic suvs are doing better than the full sized tahoes etc., but I would be careful buying a new one if you care about resale.

    Look at the Lease right now on the ridgeline and the new tundra. Toyota and Honda will sometimes offer a lease that is a give away if they have too much inventory on the ground. You may be able to do nothing down and $300 a month and get a Ridgeline or Tundra right now.
    I purchased a new Tundra CrewMax outright in 2007. Absolutely a beast with comfort and power. And I know right now that the lease is such a giveaway that it pencils out much better than owning the truck. This way in 2 or 4 years who cares what your vehicle is worth. Most people lose their butt on a vehicle so if the Lease is right it can be a much better deal. Obviously pencil it out.

    Sorry so long, hope this helps.



  13. #13
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    Re: Time to buy a truck/SUV

    The big vehicles are definitely cheap. My dad goes up to the auctions in the Twin Cities on occasion and the big vehicles there are selling for dirt cheap. He recently bought himself a used Ford Expedition for less than half the blue-book price.

    I also second the 3.8 comments. I have a 2000 Bonneville with the 3.8 and tend to average about 25-26. It will get about 30 on the highway, and at worst about 22, which is close to what I've been getting driving around in Rapid City and the Black Hills this summer. It only gets about 2-4 mpg less than my wife's little tin can 4-cylinder Sunfire from about the same year. I've been thoroughly contemplating trying to sell that little car (which would probably be easy right now) and getting a cheap truck or SUV.


    Last edited by Kyle; 07-22-2008 at 10:49 PM.
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    Re: Time to buy a truck/SUV

    I have a 2001 La sabre and generaly get 32mpg at 70 mph, but on a trip back from Okoboji this month I set the cruise at 60, and got 37mph. I will NOT trade this car for a smaller one to get worse milage, i'll drive it till it won't go any more. It's a shame they quit making the La sabre's.



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    Re: Time to buy a truck/SUV

    Quote Originally Posted by TOMMY BOY View Post
    Big luxury suvs like the Tahoe LTZ, Navigator, and escalade have just been crushed as far as resale. I know of people trading and losing $20,000 for one year of ownership.
    That is amazingly stupid. You'd have to drive a high mileage vehicle an awful lot to save $20k worth of gas.



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