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Buying a used truck.....

Discussion in 'Commercial Snow Removal' started by eggy, Apr 28, 2002.

  1. eggy

    eggy Member
    Messages: 71

    This might belong in the off topic section, however I am wondering what your thoughts are on buying a used truck. Typically I buy brand new every 1-2 years. The truck will be used for plowing and towing of lawn equipment, and will be kept around 2 years again. What I have noticed is a large amount of 1999-2000 used trucks on lots, with around 20-30,000. miles on them, theses are trucks that have not been plowed with........yout houghts on buying used?
     
  2. Tommy10plows

    Tommy10plows Senior Member
    Messages: 345

    used trucks

    1999 - 2000 trucks are out there so much becuase of lease returns. that was during the boom days of ultra high residuals on the truck. For example, my 1998 4x4 Eddie Bauer lease had a residual value of 72 % when I leased it back in 1998. The buy out is get this, $26,000 !!! You can buy them all day long for $16K - 17K. I went to lease the exact same truck, less than $1,000 difference in acquistion cost for the lease company from my original truck, but the payments are $335 MORE a month, all due to the residual on the lease. The residual value being used now by the lease company is 43 %, a difference of 29 % or $11,625 in depreciation.


    some of the lease deals I remember from 1998 - toyota tacoma @ $500 down, and $99 a month for 18 months, Chevy s-10 W/ $500 down and $149 a month for 36 months, or my own $2500 down and $327 a month for a 4x4 eddie bauer expedition.


    The big banks and leasing companies lost their butts on these deals from back in the 1998-2000 era. Most of them are out of the lease biz now.

    I would check carfax to get the history on the truck, then go to the dealer of that vehicle and see if the factory warranty services were kept up. Then negotiate like crazy, there is a flood of good trucks out there.
     
  3. Pelican

    Pelican 2000 Club Member
    Messages: 2,075

    I wouldn't have a problem with buying used, especially if there was never a plow mounted. That is, if the price were right. In my area though, prices for used tend to be only a few thousand less than new, and with the financing deals, used doesn't make much sense here.