Here's How Much I Lost Selling the $67k 2023 Chevy Silverado 1500 3.0L Duramax
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- čas přidán 28. 08. 2024
- The 2023 Chevy Silverado 1500 3.0L Duramax diesel High Country got sold yesterday to the dealer. Publisher Tim Esterdahl goes over why he sold it and how much it cost him in one year to sell it back to the dealer.
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Just to be clear, yes there’s a massive tax benefit as well. I didn’t drive this point home in the video because far too many people are confused by section 179 tax write offs and CPAs seem to hate when I say it on camera since they think I’ll lead people astray. So, no I didn’t lose my shirt on this truck, I made money with the tax write off included.
Once you sell a truck where you took a 179 deduction, you have to recapture that back into income, So, yeah CPAs should bust you for that comment
@@JSICycles what do you mean by “recapture?” CZcamsrs buy vehicles every year for the tax breaks and a CPA gave me the idea to buy a truck.
Why should We Pay for Your Losses ? in a Tax Break !
@@ZIGZAGBureauofInvestigation that's how the system works.
@@Pickuptrucktalk Just do a search for "section 179 recapture on sale" and you'll find out more than you ever wanted to hear, unfortunately
I love how you conferred with Roman on this. This is how CZcams should work. People in the same field helping each other. Yes there is competition, but there's also professionalism.
Roman is one of the best.
Who is "Roman" and where can I see some of his videos?
@@davidroman1654 The Fast Lane Truck on CZcams.
@@davidroman1654 Some rabble-rouser over at TFL :)
Man you sure make your life more difficult. Your not much for numbers are you? There is a time that you only invest so much on add ons because when it comes to trades they will not give you what you so called invest in. In fact you would probably loose $10,000 the week you bring it home. Private sale you could do better. Pass experience is the way I go. But you have your logic and I have mine. Good luck.
I really admire your honesty and transparency. Not everyone makes a profit sometimes. But as you stated, the videos will continue to earn and potentially also create more views elsewhere. I get it .
yep, you read my mind. I was gonna post this exact thing. And one of the reasons I watch this channel. Most everyone wants real people, real results, real experiences with no BS. Thanks Tim, I'll keep watching!
I was thinking the same.
Us mere mortals have to accept the whole losses.
Young people like you don't think they will ever get old.
Keep doing deals like that and you will not only be old, but also broke.🤑
I didn’t share as much as I should about tax savings. The $14k loss was actually a net profit with the Federal tax benefit through section 179 tax code.
Agree sir. Buying these vehicles and selling them so soon doesn't make sense to me. Even if you are a " auto journalist "
@@slmjake the big picture is hard to see unless you are in the business.
$1800/6 months for insurance😮. Wow! Thats crazy! Time to shop around.
That caught my attention too. I don't pay that on a 797HP Hellcat! I wonder if Tim has a 300/100/300 plan? Those are rather expensive.
@@hellkitty1014I have a 500 CSL policy across three cars and spend $1200 / 6 months.
Close to what I pay on my McLaren.. damn
lol…we pay $6600 every 6 months for 4 vehicles and they’re all paid off. 💀🔫
@@SoonerMikeDCA ?
Thanks for the honest review of your process of selling and buying the vehicles.
Thanks for being transparent, it is fun to hear how the you tube business works! Keep up the great work!!
I find it weird that people act like 60 or 70 thousand for a pick up truck is no big deal. crazy !
Just the market these days.
Since 2019 life has become about 30% more expensive
Lots of things to consider. One of which is, never trade a Silverado for a Ram.
A $14,000 loss is not a good expense
I sold my LM2 for a 23 Canyon Denali. I love this easy breezy torque of the 2.7 gasser, however not as much as the 3.0. Your gonna miss it brother, mark my words, you will be sad! My opinion the 3.0 Duramax is the best sweetheart engine ever made. But For a Ram? No man.
Chevy sucks. Go. Ram
@@rickylalonde2317 Ram is getting wiped by Nissan these days. Lol. Yea go Ram. Lol
I bought my 2023 Silverado 3.0L diesel for towing, trading off a 2017 Silverado 6.2L due to a lifter tic. Pulling a 7500 GVW Grand Design Imagin, the new truck does as well or better, and 25% increase in fuel economy when trailering. Oil consumption has been nominal, about a quart in 5K miles. It really likes DEF fluid, 2.5 gallons in 500 miles, but only while towing. The improved fuel economy makes the cost of driving about equal.
@user-hw9lm1lf9n I agree, with the cost of diesel fuel, DEF, the filters involved with the diesel engine , the cost of the diesel engine itself, and the oil changes wouldn’t be worth it
You're openness and honesty even about this channel as a business truly shows how genuine you are. Just a dude helping out other dudes. I discovered your channel from one of those Chevy videos while shopping for full size trucks. I also seriously considered trying to buy your Chevy but then found a leftover new 23 Tundra and stuck with Toyota. Glad I'm subscribed now, keep it up.
Thanks for the sub.
You may consider another insurance company, $3600 for one vehicle is pretty wild.
Modifications are not like home renovations. They’re unlikely to get much if any return on investment and you’ve narrowed potential buyers.
Plus, it’s harder to let go for a reasonable price because you know how much you’ve put into it.
I bought a 23 Ram bighorn for 15% off msrp. Night package, hemi v8, pwr mirror and peddles. Truck is quiet and smooth riding. I’m very interested to see the new inline turbo.
Minus the 15mpg Miss my 3.0 duramax
Man I know you need new trucks for CZcams, but that was a gorgeous truck. Not convinced you didn't just downgrade for 2024!!
I just said the same thing. The 3.0 diesel has proven to be hands down a really good power plant for the guy that wants a full size truck with fuel mileage of a small car. I’m not sure how Ram is doing in your neck of the woods but here they are discounting them by 10-15,000 just to sell them. Known as the bottom of the barrel. Which is why they are discounted so deeply.
I guarantee you, that I wouldn’t go to that same ram dealership after they tried to lowball you on your Chevy!
I know you weren’t going to get what you originally asked for it . I remember you were asking more than 67 k . I totaled enjoyed all the videos linked to the Chev baby diesel . It helped me decide to buy it or not . I went with a Chev 2500 diesel . Thank you Tim
You never get your after market “goodies” out of you vehicle, even if you’re doing a private party sale,you have to find someone with your taste in vehicles. Otherwise you better keep the original parts to put them back on then try to sell your “goodies” privately.
And I see no reason to spend thousands on extra goodies when he knows he will be buying a new truck each yr. Would be different if he kept the truck for yrs
The add ons are promo from suppliers so no cost to tim.
Love seeing the business side behind the videos! Thanks for being open and sharing!
No tax savings on trades in California. You have to pay sales tax on the entire purchase price of the vehicle!😕
So the RAM dealer low balled you on Silverado, but you still bought a RAM from them. Nope, not what I would of done.
Not much choice in my area.
How about out of town? Buying from local dealer who is clearly an a$$ ⭕️ is so last century/pre-internet thingy. 😃
@@is6566 I’ve done that with each of the last 3 trucks. Not sure I can change my dealer now, but I’ll find out.
@@is6566 agreed, Cant tell me they would not work with him on the delivery of it. Good dealers will go out of their way for their customers.
Ram sucks. Bad move!!
I am very happy with my new to me 2016 Tundra I bought this year for $30k, 53k miles on it. I was going to get a Duramax, but with the cost over twice this, it would take me a very long time to get the difference back in MPG I sought for towing my camper.
Your insurance is crazy. I insure two cars worth $60k and a $700k house for half.
I really like the transparency and insight in to your business!
Had I not known about your channel, I would be very skeptical of buying your truck from a dealer. First question would be, why would someone put soo much money into mods and then turn around and trade it in withing a year? Also, as a buyer, all those mods could potentially cause issues later as the truck gets older and more miles. I see the price spent on the mods as a liability and not an asset.
I think the mods are mostly a review for people to see what is available, and whether the mods are worth it. It's what this channel is partly about. The selling and buying a new truck every year is also to review a new truck every year.
Found your channel because of this truck about a month ago. I watched that series plus every video you have put out since then. I frequent the website and signed up for the forum (Haven't posted anything yet, though).
Really appreciate your videos with your insight and what you can share from members of the industry.
Awesome! Thank you!
What we really want to see is how all theses trucks hold up for 20 years. After all, isn’t that the best gage of reliability?
Not really. Trucks change every year. What might be good 20 years ago, isn’t the same product today.
@@Pickuptrucktalk GMAB The only thing that changes on these Trucks yearly is they get more expensive & needlessly more complicated. My new 1984 Ford F250 4x4 LB with 351 2brl & a 4 spd manual could pull a house off its foundation & more. Yeah, it was just a work truck, but paid $11.3k out the door brand new. 17 years later was running as strong as the day I bought it. Only a warehouse fire totaled it out before its time. These new trucks now cost as much as my 1st new home. So if some sap isn’t in a position like a farmer getting gov subsidies to buy a new mortgage every year, than that pos better last 20yrs or longer..
@@MrNorm-lr5iv oh I understand. My other truck is a 1962 Chevy C10. That truck is about as simple as it gets, however, it isn’t even in the same league as today’s trucks.
@@Pickuptrucktalk Problem with SUVs & Big Trucks is manufacturers think everyone needs connectivity with a 65” flatscreen TV across the dash with heated air conditioned leather dildoe vibrating seats, & a 1,000 watt stereo.
It’s all BS. In this coming depression people want simplicity that lasts for cheap. Hopefully some other mfg. will go there again if big 3 won’t. It’s a fucking truck originally made for work & commerce. Wasn’t meant to be an F22 tactical fighter plane.🫨
@@MrNorm-lr5iv just where the market is at. I talk with automakers all the time at events. Their head CEOs are just as shocked as you and the engineers are frustrated by prices and features too. They just can’t stop selling them and demand for more tech is a common item from consumers.
I asked the VP at GMC once where the price ceiling was for luxury trucks. He chuckled and said they were just asking the same question in the office. They keep adding features and raising the price and people keep buying them. No automaker has figured out yet how much is too much. Consumers keep wanting more.
Appreciate your transparency on how your business works. That was very good video.
your insurance rate is crazzzy. I pay a third of that for my powerboost
I definitely wouldn’t have bought my new truck where they refused to work with me
I think this answers the question mod’s don’t add value. I try to buy the vehicle I want considering how much more mods would cost. For example a rubicon is more money but how much would you spend on a sport to make it a rubicon. The way to see it is a bank won’t lend you more because it has 20k in mods they still see it as a 5 year old sport. Not picking on wranglers just the best example I can think of besides the WRX vs STI
Thank you for the followup. Useful!
Great explanation. We'll stay with you, so keep the videos coming Tim.
Dont even think about how much you will loose, after you drive the new Ram off the lot .
And this is why trucks are priced the way they are.
It appears the truck market has reversed. I'm seeing a lot more used trucks on lots than before. I think it has to do with inflation finally catching up and interest rates being at record highs.
Let’s go Brandon 😂
I wouldn’t say record high, we just got used to super low interest rates which were necessary to keep businesses going during covid at the recession of 08. The market is re-adjusting and slowing down lending by setting them closer to where they were a few decades back. Of course people will spend money on a truck they couldn’t afford to begin with and you see more on the lot, at least the price of used vehicles seem to be coming down as inventory grows and purchases slow. Just consider high interest rates as strong medicine needed to stave off a full blown recession.
Interest rates are nowhere near record highs. Not even close.
No, they aren't Jimmy Carter level rates, but they are the highest we've seen in over 20 yrs.@@tomlind2
I've been subbed to you since you had less than 10k subscribers. I absolutely love super honest and transparent videos like this. Mad respect as always!
I really appreciated your videos about the Chevy 3.0. They helped me decide to buy in July 2023 and so far I have no complaints except for the slightly uncomfortable seats. I went from a 2013 Ram 2500 gasser to the Chevy because I really don't tow anything over 5000# anymore and I do mainly highway driving to/from work. The Ram was killing me with fuel costs plus it was starting to nickle and dime me with repairs. It was a great work truck, but it was time to move on. Thanks for all your reviews.
Quick question: Have you ever asked the GM engineers why it's safe for GM to overfill the engine oil by one quart at the factory, but not for the consumers to continue to overfill it by 1 qt?
I’ve never asked. I’m sure it’s something about the break in period with engine.
Local GM dealership in Cambridge ontario canada appraised my vechicle at 64000, the MSRP last year was 94000.
They are blaming the used car market for the huge depreciation on my 2023 chevy silverado ZR2.
Crazy times now
Weren’t they just blaming the high cost of used vehicles on new vehicle high prices and availability? Amazing
57k on a 1 year old with 20k miles give or take cause I think in one video you said you had 18k, is really not bad. With the market where it’s at you got 1k under book value of a stock truck. An dealers hate modded trucks like I’m willing to bet whoever buys that truck could possibly void whatever is left of the warranty if they pull into the wrong dealer for drivetrain service and don’t have the money to fight them wrongly voiding the warranty. So far as I could tell none of your mods should void the warranty but I could see where a dealer could deny claims based on what you installed.
Also considering I just picked up a 23 high country duramax that had 20,300 miles for 51k on the sticker before trade I’d say you did great! I was told book value on truck I bought was 58.
Also thanks for your channel, between you and demonworks, you guys helped me make the decision on the lightly used baby Dmax I just got and I’m loving it so far. I don’t tow a lot but I use the bed and the truck is a near perfect all in one with the fuel economy it’s capable of, so thank you for your videos.
Great vid Tim! CAN'T wait for the RAM!!!🎉🎉🎉
Good for you for going out there. You'll figure it out
You got to do what you got to do so you can make some content on the new ram style. And Tim you pay a lot of money for insurance for living out in Nebraska. 💰💰
I appreciate your transparency!
I shop nationwide for my vehicles. Saved $9,000 on my last vehicle purchase
“$1800 every six months for insurance”? Either you have bad insurance, or a bad driving record.
Totally depends on geographical location. Same truck same driver same insurance company and I was quoted exactly 2x of the insurance as in another state.
@@is6566 - Nope, same state and more expensive vehicles.
Did you ever make a video about that Chevy and all the warranty work that was done? I have a 22 GM AT4 and i have had to go to dealer for some repairs that were under warranty. I think it would be good information if some repairs are one off's or problems if other owners experience the same problems with the same vehicles.
Thanks for doing what you do , I find them informative even though I can't say I watch everyone.
I’m trying to remember if I had any warranty work done. I don’t really remember any.
@@Pickuptrucktalk I just think it would be a good idea to see how many people have the same issues or if a lot of warranty work maybe a sign of things to come. I have a 22 AT4 3.0L diesel, had something done with the cooling system, and i have had a glow plug replaced so far. Great truck BTW !
Tim, your loss is our gain!
The full disclosure is awesome ❤👍
If the baby Duramax didn't drink oil as badly as it does I would think about buying one. With it drinking DEF as bad as it does, and with oil as bad as it does, this is a engine that would concern me long term. For now I am sticking with my V8 Tundra.
I own a 2021 GMC Sierra 1500 Denali with the 3.0 diesel and it has never used any oil. I change it every 5,000 miles and it is always on the full mark when I take it in to change the oil. It goes through about four gallons of DEF fluid between oil changes which I find acceptable. I'm averaging between 23 and 24 MPG since new which for a full size truck is pretty good.
@@josephharvey5742buy the 2.7 turbo I4 less upfront cost less weight more payload,no cost for DEF,21 mpg at fuel that is $1.00 less per gallon than Diesel,no DPF ,DOC,to worry about going bad no rubber band drive belt for future oil pump failure.The 2.7 will out perform the 5.3 ,and no bad lifters to worry about.I love my 2.7 built from the ground up excellent Torque, perfect match to work a half ton truck within it,s means.I am laughing all the way to the bank.with proper maintenance and not abuse the truck it comes out a winner in the half ton category.I also got a credit on the sticker price not an upcharge option charged.
@@sodbuster518able I'm currently in a 3.0 and when done with major trailering, heavily considering the 2.7. Giving it a couple more years to prove the 2.7, but hopefully they'll come down quite a bit and can come out a bit ahead lol
I know insurance is going up, but $3600 for one vehicle for a year seems steep!
I know insurance varies greatly by state, city, and coverage. Plus it has been going up.
I think I got that wrong.
Thumbs up for being honest and sharing your experience. BUT...Never finance a non income producing asset, unless you have money to burn. It would be one thing if you were making money with it, but not to loose money on top. I would save all the money you can right now, and do this kind on thing once your rich enough for it not to matter and can retire. Comes faster than you think and never know when hard times are coming.
The tax savings far outweigh any downsides.
Compared to some of the junk I've seen people put on their trucks, all the modifications you did to the Chevy were within reason. The 3.0 Duramax is engineering perfection. Looking forward to the upcoming Ram and Tacoma trucks.
Thank you so much for making these videos. I'm in the market for a Tundra or a 1500 Duramax. These videos are so helpful in helping me decide. If you were planning on keeping one of these two for at least the next 5-7 years which one would you have kept?
Impossible question to answer. All trucks have their pros and cons.
I’d forgo the mods next time. You never get your money back on them.
I’m really surprised Tim that you were gonna buy the ram when you went to trade in the Chevrolet and they really lowballed you I wouldn’t deal with a dealer like that. I know you like experimenting with different vehicles, but man that dealership I wouldn’t recommend them to anybody if I was you, they’re not for the customer there for them self
I try to support local and I'm giving them the benefit of the doubt they just had a mix-up or a bad day.
Sometimes if one shops around at other dealers who are not near, can score good deals working out cheaper even having them deliver the vehicle than dealing locally. The local dealers count on have us between a rock and a hard place.
Seen 2024 RST 3.0 or 6.2 for 10k off and additional 1k if you had costco.So you didnt do bad.
Everyone is stupid for paying this kind of money on a truck. $70000? No way!
And for a Chevy!
Chevy makes the best truck on the market right now, but $70,000 is still out of reach of the average truck buyer.
Yup and the other manufacturers were even higher in list price. I shopped them all before buying my 2023 Silverado. Not to mention the Silverado is rated higher and as a manufacturer Chevy had less issues than
Dodge (owned by Stellantis, Italy) and Ford. You make the best choice you can at the time with the models available.
Never let dealer know just how much you want the new vehicle. Make them work for your sale. And if you’re losing more on trade in than gaining on sales tax then it isn’t worth it.
Love your channel Tim!
There are better ways to make money with a truck, TBH.
Used truck and new truck prices are dropping like a rock.
Looking forward to your Ram 2025. I'm interested in this truck. Need more info on 3.0 reliability. Can't wait.
What is expected delivery date?
Yea they are! Except the new trucks are still over priced especially with these interest rates.
Dropping like a rock?
Where? Fantasyland
My guess is March/April.
@@cs1992dealers are discounting new trucks everywhere. Used prices are dropping too.
@@JWL427 In very isolated markets, maybe.
Holy cow. $21k to rent a truck for a year. That is insane! I get that he uses it for his business and if you consider that a business expense, it’s almost reasonable. The average guy should not do this under any circumstances though.
Correct. This doesn’t make any sense for a regular buyer. It makes a TON of sense for my business.
Before I retired I was a partner in a Chevrolet Dealership and also a Chrysler,Dodge , Ram Jeep Dealership drove Ram trucks for about 10 years your going to hate the Ram's turning radius! Terrible in parking lots and tight maneuvering spots. Last Ram was a 2017 loaded Laramie limited. Your Silverado run circles around the ram.
I would be interested to see a video on how a loaded Big Horn compares to a higher trim level. Additionally, I have been told higher trim levels hold those resale better than comparable lower trim levels well equipped. Interested to see if there is any truth to that. Whether in retrospect, you would have opted for a higher trim level. Additionally, some of the the things provided in the higher trim level that aren’t part of the lower trim level are not always covered well in the buyers guide.
That's an interesting thought on higher trims holding value over lower trims. Let's see. I've owned a Ford XLT, Tundra Limited, Silverado High Country and now will own the Ram 1500 Big Horn. I'd have to go watch all the old videos where I recapped how much I've lost on each one, but my gut tells me the math was about the same. I sold all the trucks above to the dealer and I don't recall getting a check when I sold it. Instead, I often write a check to get out of the loan.
It also depends on what the market will bring at a particular point in time.
Trucks are not bringing the money they were say two years ago, actually nothing is.
For a period I was able to lease GMC 3/4 ton diesels and keep them for six months and actually sell them stateside for a profit. Not anymore.
Our dollar helped that cause as we are valued quite a bit less than the US dollar.
From Canada BTW.
The only thing that made sense to me was that you dumped the Silverado for a Ram. Don't most businesses lease trucks instead of buying. Seem that with a lease your only paying for depreciation.
Depends on the business. For me leasing is tough since the deduction isn’t as large as buying. Plus, the payments are higher.
lol, Tim, the "Golden rule" on anything new, and you put a bunch of "add ons", Nobody, but nobody gets their money back on that. That's a "Suckers bet". (Guess who that was) The salesman that sold me my truck, he showed me his Harley Davidson. He said I bought this in the Fall (good move) I knew the guy was behind on his payments (better move) He put 9 or 10 thousand in mods. Bigger bore pistons, cam, wheels, etc. (dumb move on that guy) My salesman Dove in when he heard the guy got layed off on his job. He said the guy was showing him on all the stuff he did, "No one can even run next to this." The guy went on and on. He said,"You ARE stealing it off of me!" He pointed out to the guy. "Bud, the next time you sell something hot, put ALL your stock parts in the corner of your shop. When you go to sell it, put it back to stock. If the guy that buys it says he wants to soup-it-up....There-ya-go." Heck, Tim, I thought you sold this Months ago. If I knew you were going to sell it this low, I would probably swoooop in! lol (You had all the stuff I would want) I remember the one year our parents went on vacation. Dad said, "Don't you lil shits be modifying your cars with motor parts. You will NEVER get that back." He left, we did it. He was right. We lost all the money we put in them. Everyone knows when you leave the dealership, there goes about ten grand. Looks like it could be more, now. When the dealers had NO vehicles, that was the time to sell. Everyone was getting great money on there trade-ins. Look on CZcams, there are all these threads about all the dealerships having too many trucks, now. The dealers are giving some pretty good discounts again. Yea, that dealer didn't want yours, he has big money that is just sitting on Blacktop. Think of these dealers that have these New ev's!!! When they showed that on world news that the car loses 1/4 to 1/3 of their voltage to heat the car. And they Can't find a Charging place. And, when they do, it won't charge!!!!! OMG, THEY-ARE-SCREWED!!! They are going to BEG for a WARM WINTER. FORD is out BILLIONS of Dollars in their truck line.. They are trying to do 1/2 of their target. Daaa, now I would say 1/4th (if they are lucky) Tim, ((WORD-OF-THE-DAY/WEEK/MONTH/YEAR)) DON'T--BUY--AN--ELECTRIC--TRUCK....(Or Car) lol...((Hey, How about Cal-LEE-FORN-YA?)) They are saying it will be against the LAW to have a Gas powered Car or Truck after 2025. "Judge, I just wanted to HAVE a Vehicle that HAS-A-WARM-HEATER!" "I Know I was AGAINST-THE-LAW, I JUST-WANTED-TO-BE-WARM!!!!"
Tim I'm looking to buy a 2024 gmc with the 3 liter . Would you buy another one ? One thing worries me, everything is digital.
Yup, best truck engine on the market.
I’m assuming this isn’t your main source of income? Either way I wish you the best and love the channel!
Yes main source and this is a business write off as well.
Good luck with the Ram. Be sure they address the recalls already placed on them. The Cummins is good though it seems derated compared to my 2018. My 18 blows away the 24 with no modifications done to it. The problems that continue to plage the Rams are the Mopar parts surrounding it. You can continue to expect ABS issues. Air intake heater and relay issues. Hydro boost, fan clutch, thermostat / sensor and the dreaded evaporator failure that plages all rams and requires the dash to be removed. Most all can be expected as soon as your warranty is up. The 24's will also use more DEF and regens because of EPA turning up pollution regulations. Sad because I truly like the Ram / Cummins. It's almost not worth owning a diesel anymore unless you drive over the road. And even then, you will never know when "limp mode" kicks in and your stuck in some town for a month waiting for repairs. If I had to drive to Alaska tomorrow and had to choose between my 2018 and my 2001 diesels, without a thought I would be in my 2001.
Good info in on the video, did you try selling it through your CZcams channel? Seems like you have a platform to reach a broader market. Any modifications are really only going to help the sale if the customer cares about (wants) the same modifications. Might find that buyer here next time!
Yup, I tried. No buyers.
Just like your Tundra videos, you'll make pretty good money on the Ram hurricane combo. I'm definitely tuning in for that series. I never really kept up with your chevy content.
Hi honey … I bought these new shoes to go with my purses that I bought too. And guess what … they were marked down to a small fortune. 14k underwater. As a once popular wine company used to say” Thank you for your support”.
These new trucks are expensive, depreciation hits so hard in the first few years, this first year for my new one is about 16K, the 1.9% helps and the 3 year payoff timeframe hurts, so I think overall you did ok. IMHO
I just left a GMC dealer, and my 2021 1500 Denali was worth 39.000 in trade, because of the market and lease terms! Intreat rates with my 835-credit score is 8 plus percent and residual is garbage! GMC will not let you trade with anyone other than a GM dealer. They will not let you sell your vehicle to third party for extra money, they will not release title! I was going from a Denali with 3.0 Duramax to SLE 5.3 gas engine, $8000.00 savings but the 36-month lease went from $644.50 which I put 8000. down 3 years ago to almost $998.00 with $ 8000 down! I will pass and return vehicle to GMC pay $1700.00 foe excess miles and lease Toyota Tundra hard loaded with $2500.00 down about $700.00! The dealer told me business is terrible with customers walking out the door all day long!
Dude. Comon you got rid of a 3.0 duramax for a 5.3.. thats sad dude. The 5.3 is anemic. I don't get your trade at all? Even the 2.7 runs loops around the 5.3.. you will cry when you realize what you have done. Ugh
Uhhh, if you leased a vehicle then no, you can't trade it in at another manufacturer. 😂😂....did you not realize that? You're basically borrowing their vehicle and yes, you've gotta either get another GMC (or whatever manufacturer you leased from) or buy it out so it's yours.
934 on a 36 month lease. O out of pocket . MSRP 82K. 5 K credit on 72k Denali 2020 trade in.
It makes absolutely ZERO sense to put aftermarket parts on your truck if you don't plan on keeping it for "the long haul" ! That is, unless you got the parts for free( which it sounds like you did on some) or if the mods are easy enough to remove and sell aftermarket later. It just seems to me you would be better off leasing these vehicles rather than buying?? I don't know all the details in your situation though,....was there NO option to lease?, was it too expensive to go over the 10k,12k or 15k mile lease plans? But, at the end of the day we all know vehicles are the worst investment and plan on taking a hit if you don't keep them for at least 5 or 6 years. In your situation though, it is your job and I can see where it doesn't make you money after the content gets stale :-)
Leases suck for my business.
This video really explains why all the content creators are so desperate to get their hands on the latest and greatest trucks.
Yup.
Modding a truck youre not in long term is a sure way to lose even more money. The truck market is even more squirelly now than usual.
Very cool to hear about this whole process and how it impacts your business.
Yes, you wrote off what you paid for the truck in 2023, but legally, the $57k you sold it for this year is now considered INCOME.
That’s why you buy another truck. Whenever you don’t buy a truck, yup you pay the taxes.
I certainly would not have ordered a truck from someone who low balled a number like that for a trade. Then to have to pay 72;000 for a new truck is just insane. As long as my frame and body stay intact I think I’ll just replace bad parts and move on with it. I can buy engines, transmissions, etc. far cheaper than 72,000 geez!
I myself when purchasing something…..I ALWAYS CONSIDER THIS, what if l have to sell it…..what’s its worth.
thanks for all the info, good luck with the new truck....following.
Interesting and informative analysis!
Well I'm going to have to go watch your Ram video now as I can't wrap my head around you spending $72k on a Big Horn trim level. I ordered a Ram 1500 in 2022, literally the most loaded Big Horn you could possibly get, including the Backcountry package, and my truck was $60k.
$72K is pretty crazy, especially since dealers here in Oklahoma are currently listing Ram Laramie editions for $56k.
Love your videos. In the interests of full transparency, what price did the dealership relist your used truck at? Your insurance costs are astronomical. Have you had multiple claims for at fault accidents? Receive no good driver discounts?
Dealership listed it for $65k. Shopped around for insurance after this video and found a big savings on Progressive. Follow up video on Ram estimated loss has that information.
Keep at it Tim, were with you all the way. Looking forward to seeing the Ram.
They gave Kelly blue book on low side. My 22 high country with the 3.0 shows that price on KBB
I just got 99 F250 7.3L 2wd 6 sd trans 385,000 for $500 runs awesome could sell for $6000 has 415,000 on it now !!!
Why modify if you will get rid of it in a year?
CZcams content creation.
youtubers make like 200k a month, hes fine
@@jrksoldierx1436 you talking pesos, yen, rupee?
200k a month! LOL.
The dealer was doing NO DEALS and for GM it’s time for them to STOP THE RIPOFFS and do a FAIR DEAL for the consumers we can’t all afford MORE THAN MSRP and 9% APR 😡
They lose $5000 when you drive them off the lot. That's why I buy used and let someone else take the hit. Look forward to seeing your ram.
I haven’t lost $5k on my 4Runner yet, and it’s 6 years old. Buying a beat up 4Runner with 100k miles for 90% of new makes zero sense.
Why not let other fools take the depreciation hit and buy a 1 year old truck instead? Buying a new vehicle and keeling it for a year is 99% guaranteed to be a loss. I don’t get it.
It’s business. Waiting a year means no views, no revenue.
It sounds like GM has a massive oil issues in the 3 litre , not good
CZcams benefits tremendously from content creators like you. They take the vast majority of profits made by your channels.
I wish someone would start a similar style site that is kind to its viewers and content creators.
Plus you drove it a year! Everyone pays to drive vehicles with very few exceptions. So what value would you put on having a vehicle to drive? A damn nice one I might add. Not sure you upgraded by going Stellantis. Not user friendly. But, you have videos to make and will get to see what you find out. Think "G Lock"
Where will you go for repairs on your Ram with the nearest dealer 200 miles away?
Local dealer is in town, the next nearest dealer is 200 miles away.
Why a Dodge