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Buying a truck

pulsarnc

My aunt died about 2 months ago . Each of us nieces and nephews were given a bequest of $10,000.00 in her will . Plans are to use it to buy a new to me truck of 10 to 15k . Wondering whether to wait and watch to see if the market gets lower or go ahead and buy now . Thoughts please . Personally I think that there will be a big downturn in the future.

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Comments

13 comments

Date Votes
  • select-fire
    If you can get by without one wait. Vehicles get cheap when folks are out of work. You might be able to snatch a bargain.
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  • Ricci.Wright
    WAIT Bargains are on the way I think. I also think there are gonna be a lot of slightly used guns for sale in the next year or so.
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  • Knifecollector
    I'd lay aside enough to cover the inheritance tax before spending any of it. 
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  • mac10
    all our dealer ships are closed the dmv is iffy
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  • Grasshopper
      DMV is closed here so you can get any plates, transfer ect. Wait a couple months and I think they will be out there at a deal like everything else. No taxes on 10k in this state.
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  • shilowar
    Zero % interest means there will be lots of trades in the next month or so....lots of used inventory.  In the 10-15k range I'd be looking at private party purchases, you'll be able to score a truck that retails 20K for 15K from a private seller.  I'd be shopping craigslist and autotrader.   What kind of truck are you looking for?
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  • bpost
    A short wait of 30-60 days will help you get a good deal.  This shut down is hurting dealers and folks can't pay for what they bought.  Shop hard for a 2-3 year old vehicle of your favorite maker.  If you go to the dealer let them run your credit but NEVER talk about paying cash.  Once you get to finance stall until you get a signed sales contract with all fees included, once they sign it is a legal purchase contract.  Then at the last moment pull out your checkbook and write the check.  Dealers do not want to hear cash, they make most of their profit in the finance office.  Do not bring cash, anything over 10K makes more paperwork for them and you.
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  • mjrfd99
    There's going to be a ton of repossessed vehicles as we charge into the recession that will make the 2009 collapse look good. 
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  • SCOUT5
    I would wait until tax return buying is over.   Of course, like others have posted, this economic down turn from the virus will affect the used car market too.
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  • neacpa
    "I'd lay aside enough to cover the inheritance tax before spending any of it."
    Ignore this prior post.  There will be no inheritance tax.  The inheritance or gift tax is on the person giving it up or on the estate level, not on the person receiving it.
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  • hillbille
    for that money you will have to go used, and probubly private party, go ahead and look, just hold out for the one you really want, you may find a deal in the meantime, usually the longer into summer the lower the truck prices come down.....
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  • pulsarnc

    My current vehicle is getting very ragged 1995 f150 with 326,000 miles Will replace with another ford . Most likely a crew cab and 4wd. I have owned current truck for 22 years time for a change .

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  • Horse Plains Drifter
    There's a beautiful white Ford crew cab 4x4 down the road in someone's yard with a for sale sign in it. Don't know for sure what year it is, 2007-2012? Sure is purdy, but can't see the price on the sign.
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