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Buying A Truck

ISeeSpot 2,083 560 August 26, 2015 at 06:53 PM
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Hi All, wave

I've come to the conclusion that I need me a truck. While I have never had the experience of buying a truck off the lot, I would truly welcome and appreciate the suggestions or thoughts anyone has in aiding me in this process. I have $10,000 in liquid assets I've set aside for this process for the purpose of down payment, tax/title. This would be a new mix to the accounts I've had in the past and that are open now; just revolving credit (store and unsecured from two banks).
Want: '14 F-150
Live In: Texas

If there's anything else that I might include or divulge please let me know. Thank you! hug

15 Comments

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#2
unless you've decided to buy from a dealership, do NOT give your SSN if you're just asking for the best price they can give you. it will ding your credit report with a hard pull even if the salesman tells you it won't. only when you've finalized the deal should you give them your SSN and other personal info.

to make an informed choice, I suggest you get the latest copy of Consumers Report for cars, trucks and check all vital info and reviews on the one you're eyeing before you decide.
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#3
Buy what you want. All new vehicles are just about the same as far as reliability. Get your best price online so you know what you can get the truck for. Then go to a local dealer and see if they will beat it. All deals are a little different but should be close. Look at the percentage off the sticker. Not sure what the F-150 goes for but I shoot for 10-20% off sticker. You will get a better deal if you buy something off the dealer's lot. End of the month is the best time to buy. Treat your trade separate if you have one. Sell it on your own.

A "hard pull" on your credit isn't going to hurt you. That is a myth. Also keep in mind that it is 0% (or close) OR more cash back. So if they offer 0% or $3k cash back, and you can get your bank to loan you for 2%, it is probably a better deal to get the cash back. Also do not buy ANY extras other than the car. NOTHING!
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E finita la cuccagna

Liberals want you to think like them, Conservatives just want you to think!
#4
Don't understand the 'hard pull' comment either. That would indicate you're looking to take on more debt, hence the lender looking at you as risk. If you're not applying for a loan it means nothing to your score.

OP - I'm in the same position on a truck but need 4 wheel drive. I've been kinda looking for a few years and have procrastinated cause the process is so demanding, at least the way my OCD mind has to go about it.
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#5
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#6
Quote from mamabear209 View Post :
unless you've decided to buy from a dealership, do NOT give your SSN if you're just asking for the best price they can give you. it will ding your credit report with a hard pull even if the salesman tells you it won't. only when you've finalized the deal should you give them your SSN and other personal info.

to make an informed choice, I suggest you get the latest copy of Consumers Report for cars, trucks and check all vital info and reviews on the one you're eyeing before you decide.

That's illegal [creditcards.com].... I imagine you could sue if they decided to check your credit without your consent.

Last time I went looking for cars I pre-scanned my license and put some text at the bottom to the effect of trying to access my credit is illegal without my consent - papers to give to dealers if I wanted to test drive something.
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#7
thank you for providing this thread link! i somewhat remember this popping up before but couldn't find it. look around

of course thank you to those that have replied thus far! any more insight or experiences had by others members i'd love to hear about!
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Last edited by ISeeSpot August 27, 2015 at 07:00 PM
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#8
Ford runs such high incentives that it might be the same price or cheaper to look at a 2015 truck. I'm not sure Edmunds KBB etc take into account the incentives that existed when they calculate used car prices.

Also there are some Ford dealers that make money off volume, not profit margins. You can google 'high volume ford dealer texas' or 'largest f150 dealer texas', lower price may be worth a several hour drive.

If you do buy new, you can join the IUPA for $60, and it's worth a $500 discount on vehicle purchase.
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#9
Go with your needs depending on the truck, do not only focus on pricing, but also quality. Ford seems to have gone cheap a while back (I don't know if they changed that). A past experience my dad bought a 2000 F150 runs like a champ in 2015, since his 2000 ran very well and loved the new look of the 2006 model he wanted to get one and being a higher end model he would expect more of it pure crap compared to the 2000 model you could see some fabrics going bad etc same with a 2006 escape (bought one for my mom) higher end model and had issues after that no more Ford (tried to talk to the dealership they basically turn their backs). I check Toyota Tundra seem like a pretty well done truck as well as Ram good luck!
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#10
The F150 is the best selling vehicle in the USA. That means there are a lot of them on the road. I would look at the 2 year old market one just coming off lease. Don't take that big hit of depreciation off the lot. Now ford does run big incentives so it might make sense to go new, but look at used too.
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#11
OP now is the time to buy since they are trying to clear out for the new model year.

Ford has been sending me trade in offers and whatnot. I'm seeing ~1.9 interest rates as of their august flier.

Look for dealer demo trucks, they'll have ~4000 miles on them but are "new". A 2010 f150 super crew cab 4x4 MSRP for 44k. I got it for ~28k. Cashback and whatever got it down and the dealer demo took off ~2500. I got them to give me a little more off because I came at them with IRS mileage numbers and was like hey you already got this money from the IRS. I bought it in 2010.
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Last edited by ashcampbell September 3, 2015 at 07:06 AM
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#12
If you don't need 4WD, save money by not getting 4WD.

See what the dealer charges for parts because the aggressive ones price everything above list price.

Ford is kind of cheap about handling defects, and don't be surprised if a highly rated Ford dealer treats you worse than a mediocre Toyota, Honda, or Buick dealer.
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#13
Quote from ashcampbell View Post :

Look for dealer demo trucks, they'll have ~4000 miles on them but are "new". A 2010 f150 super crew cab 4x4 MSRP for 44k. I got it for ~28k. Cashback and whatever got it down and the dealer demo took off ~2500. I got them to give me a little more off because I came at them with IRS mileage numbers and was like hey you already got this money from the IRS. I bought it in 2010.
How did you find said "demo" truck? Go to the dealer directly and ask?
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#14
Quote from Bania View Post :
How did you find said "demo" truck? Go to the dealer directly and ask?
When they were showing me the different model types they came out right away and said the truck was a dealer demo. No real way to hide 4k miles on a truck in the new section.

I'd think if you came out and asked about any dealer demo trucks they may have a few.
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#15
If you're paying in cash, don't tell them until you work out your deal. They want you to finance through them so if they think they will lose out on this your deal won't be as good. Wait until after everything is done before you let them know you're paying 50-100% of it off in cash.
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