Value of a Truck

**scooter44** · 05-24-2008 03:12 PM

I am thinking of buying a truck but I am in a quagmire.

Would you think it would be financially beneficial to purchase a new Dodge truck with their 2.99 a gallon for 3 years promotion, or wait until August for the price of the older '08 trucks to decrease?

Or do you think since gas prices are constantly rising that the price of trucks will not be affected.

Any input would be much appreciated!

**MYDWAGON** · 05-24-2008 07:05 PM

What are you using it for?

**Sammy7** · 05-24-2008 08:54 PM

You'll need to do some number crunching. Take a guess at what you think the average price of gas will be over the next few years and how much you plan on driving the truck. Keep in mind that Chrysler's offer of $2.99 gas is only good for the first 12,000 miles each year. Say the truck you want averages 15 mpg. Over 12,000 miles, that's 800 gallons.

Say your truck costs $30,000 new and for the sake of simple math, it'll be worth $20,000 in three years. If gas goes way up, it'll probably be worth less. Someone correct me if my math is wrong, but to cover that $10,000 in depreciation, gas will have to average $4.17 a gallon over those three years. So far, it looks like a good deal, but that's assuming you only drive 12,000 miles a year. If you drive more, you'll have to factor in the extra money you'll be spending on gas because your mileage isn't going to be as good. Also consider the net change in payment, insurance and maintenance costs.

Now take all of those numbers and compare them to what you'd be spending if you bought a Dodge that's two or three years old and has already depreciated significantly. People are dumping their trucks and SUVs for cars with better mileage. With all of those flooding the market, buying used might be a better deal.

**colonelburke** · 05-26-2008 08:39 AM

Dodge trucks lose their value the most. Buy used, you'll get a better deal.

**chunkyckn** · 05-26-2008 11:47 AM

Which dodge truck are you getting? Some dealers are giving away their Ram trucks @ $13k below MSRP. that's on their big block V8.

If you want a new one, I would stay away from it like a plague. If you want a used truck, let me know, I work at a dealership and I should be able to find you what you need.