Thinking of getting a silverado.

Discussion in 'Chevy Silverado Forum (GMC Sierra)' started by Trauma5951, Apr 10, 2010.

  1. Trauma5951

    Trauma5951 New Member

    So i was sitting around pondering today, and the thought came to my mind that now that i have a better job, i could technically get the truck i wanted to begin wtih. )

    Last year i bought a 2009 jeep liberty, new. Its not a bad vehicle, but i love trucks... I wanted the new body style silverado 1500s every since they came out but could not afford one at the time of buying my jeep with my crappy part time job.

    So today i randomly went to chevy dealership and the trade in value for my car depending on what they appraise it for, is $15-$18,000. Now i got an amazing deal on the car, and when i bought the jeep i got $7500 off it, so after taxes the thing was only $22k.

    I owe $10700 roughly, after the payment this month.

    So basically all the long unnecessary story above, im debating trading her in towards a new 2010 silverado extended cab, base model (not the work truck)

    I have an appointment to meet with the salesman to talk in detail monday ( i was there 10 minutes today) and thought i would get some background info to come with me.

    I believe the way it works is that if i owe $10000 and i trade in for $15000, i get $5000 towards the new vehicle as a down payment or something but i don't know fully how that works yet. If thats how it works, then i would be dumb not to trade the car in because i come out on top $5000-$6000 ahead, which means all i paid for the jeep over the last year, was 270 a month, basically turning it to a 1 year lease. (i put down $6000 when i got it, so if i get that back im golden)

    Can anyone give me opinions on how they like their silverados? Is there any reason to look at the sierra over the silverados? Am i dumb for buying one of these if i really dont need it for anything but driving around.
  2. mmorgan1865

    mmorgan1865 Rockstar 4 Years 1000 Posts

    :sign0016:I can tell you I love mine. I drive mine back and forth to work most of the time but we take it on our vacations to WVA and I need the truck to haul all of our gear and my tools. I also tow a trailer several times a year. The 5.3 is a great engine and I'm averaging 16.2 around town. The OnStar system is another great reason to go with the Silverado. I think you'll be happy with the truck.
  3. Trauma5951

    Trauma5951 New Member

    thanks for the welcome and fast response.

    I honestly dont haul anything, i used to be in construction but now work in the emergency response field fire/ems.

    I am just into trucks lol.

    My jeep gets 17 highway, what would i be looking at with the manlier v8 of the silverado 1500?

    Any idea if i am correct in how i am assuming trade in would work?

    I figure if i owe $10,700 on my car, and trade in for lets say $16,000 that gives me $5000 to put towards the new truck, and with the 0% APR it does not effect my overall cost regardless of what i put down.

    But it seems too good to be true to make $5000 back in profit over what i still owe on the car... I am probably getting my hopes up lol.
  4. derekj

    derekj Rockstar

    Of course it goes toward the new vehicle. You may also try and sell it privately through craigslist for more.
    Remember, it's not profit.You have still made payments. The 5.3 gets the best mileage and is a reliable engine.You will not regret it.
  5. Trauma5951

    Trauma5951 New Member

    Well if thats how it works, the truck may be in the cards for me but the 5.3L is definitely too expensive. I really dont need the power to begin with of the 4.8 i would just want that added gas mileage. But i wont save $3000 in gas any time soon.

    What differs between the LS and LT?

    What did you all pay for your silverados? I have not talked about price yet, but it sounded like sticker was about $31-32k.
    Last edited: Apr 11, 2010
  6. Enkeiavalanche

    Enkeiavalanche Loving the Outdoors Staff Member 5+ Years ROTM Winner 5000 Posts

    Check out see what your Joop is worth first. You will get more if you sell it yourself. Don't give them any info like a credit report till you are ready to sign a paper for sale.

    Here is some more helpfull info...

    It helps to know what you may face before hitting the showroom. That way, you'll be prepared to avoid the stress of being ambushed by a team of salesmen or accosted by a loan shark. And you'll have more confidence in the face of undue pressure to seal the deal.

    Top Car Dealer Scams To Avoid

    1. The Ambush
    Beware of being shuffled among a never-ending team of auto pros--you shouldn't have to talk to the sales guy out on the lot, the sales manager, the finance manager, the floor manager and the used-car manager just to buy a car. Pick one to deal with and stick with him.

    2. The Confiscation
    Whatever you do, don't give up the keys to your current vehicle--even if the "used-car manager" asks for them to asses the car for its trade-in value, even if the "sales manager" asks for them as collateral while you take a test drive. If negotiations should go amiss, it's impossible to walk out on the deal if you have no way to start your car.

    3. The Bum Rush
    Salesmen love to hurry you into a deal today. They'll try all kinds of things: On-the-spot delivery, haggling over details, one-time offers. Don't let them pressure and bully you into an impulse buy. Show up knowing what kind of car you need and what you can afford to pay--and if they can't provide that, leave.

    4. The Buried Bill
    Read over final invoices carefully before signing anything, in order to make sure you're not charged for something you didn't request. Alarms, extra cleaning, "prepping," rust-proofing, fabric protection and paint sealant are all common add-ons that sometimes appear on the invoice unknown to the buyer. Hint: Consider doing the VIN (Vehicle Information Number) etching yourself. Dealers charge hundreds of dollars to do it, but a home-etching kit costs as little as $20.

    5. The Bait and Switch
    Dealers may advertise one model in the paper, loaded with extras for a reasonable price, but then have only a lesser model (with less overall value) on the lot when interested parties show up to buy the one they saw in the paper. Best way to avoid this trap: The minute you realize the con, walk away.

    Click here to see the full list of the Car Dealer Scams To Avoid
    Pay Attention to the Little Things

    There are roughly 10,000 new- and used-car dealers in North America accredited by the Better Business Bureau, and an additional 15,000 that provide repair and service. While the total number of consumer complaints in North America was up 10% overall last year (cellular phone companies, television stations and banks topped the list) complaints at new-car dealerships declined 2.4%. More than 84% of those complaints were resolved, according to BBB data.

    "Our stats show that complaints against car dealers are kind of a wash from the previous year," says Alison Southwick, a spokeswoman for the BBB. "It's when you see sudden sharp increases, like 42% for banks, that you know you've got a problem."

    Still, complaints about used-car salesmen and repair shops were up 2.5% and 9.5% last year, respectively. The used-car industry has been doing especially poorly as of late--complaints about used-car dealers increased 18% from 2007 to 2008. What's more, one in five shoppers who leave a dealership without buying something leave because they received poor treatment or had problems with "pricing games, sales pressure tactics or discourteous treatment," according to a 2009 report from J.D. Power.

    And dealer traffic volumes are expected to decline by 20% by 2013, causing a 25% drop in revenue that will force car dealers to adapt to an "increasingly difficult environment and try new methods to keep customers coming back," J.D. Power says.

    Women buyers are particularly important to dealers. According to data from Ward's Auto, an automotive industry news and analysis firm, 85% of all purchase decisions are made or heavily influenced by women. But CNW Marketing Research Inc. reports that just 8% of U.S. dealerships are female-owned.

    Expert Advice

    To determine which car-sales tactics can be the most harmful, we culled advice from the experts at Better Business Bureau, J.D. Power and Associates, and AAA to come up with the best strategy to avoid getting ripped off. One important note: These scams aren't huge conspiracies that trick prospective drivers out of thousands of dollars. Instead, they're small corners cut, intimidation applied or minor untruths told that add up to one toxic car-buying experience.

    Hidden fees, for instance, could mean a difference of a couple hundred bucks, at most. But a couple hundred dollars is a lot for many consumers. The scam is easy to avoid: Just read carefully over any invoice or contract before you sign it (alarms, extra cleaning, "prepping," rust-proofing, fabric protection and paint sealant are all common but unnecessary add-ons that sometimes appear on the invoice unknown to the buyer). And consider doing the VIN (Vehicle Information Number) etching yourself. Dealers charge hundreds of dollars to do it, but a home-etching kit costs as little as $20.

    The same attention to detail goes for less-than-honest negotiation tactics. "Finance managers" will often start the process by talking about monthly payments rather than the total cost of a vehicle. But by stretching the payments over a long period of time, long-term loans coax people into buying cars they can't afford--and the car will have almost fully depreciated by the time it's paid for. Instead, choose the shortest-term car loan available.

    "Consumers should do some research on the vehicle or vehicles they are interested in purchasing or leasing," J.D. Power's Tews says. "They should talk to the loan officer at their bank or credit union before going to the dealership so they know how much they can spend and understand their financing options and can compare them to the options provided by the captive provider."

    A general rule of thumb is that a car payment should cost no more than 12% to 15% of your after-tax monthly income. Don't mention any price at all until you've selected a vehicle to buy, and then ask the salesperson for his or her very best offer. Don't discuss add-ons like warranties or trade-in prices until you've agreed on the price for the car itself--that will only muddle how much you're actually paying for it.

    The good news is that these days, buyers have substantial negotiation power at their fingertips--which will help with fending off a bait-and-switch or a lemon sale. Online sources like, Kelley Blue Book and the National Automobile Dealers Association can significantly narrow down the list of what type of car might work best and provide a reasonable price range. And the Better Business Bureau Web site lists accredited car dealers by region as well.

    If all else fails, use common sense, Gerhard says. If something seems amiss, walk away. There will always be another car, another day.

    "It still is buyer beware, especially in these times," he says. "If it sounds too good to be true, it probably is."
  7. csattley14

    csattley14 Rockstar

    You will love the new silverado if you decide to get it. I don't regret getting my 07 even though it wasn't new, but it was new to me. I have the 5.3 and I get roughly around 16.5 average with a K & N filter in the truck.

    Also if you decide to trade in the your jeep don't take the first value they give you. Try and get them to give you more on the jeep or take some off the truck. Haggle them down if you have to.
  8. Trauma5951

    Trauma5951 New Member

    is the LS stupid to buy to save money over the LT?

    What should i be trying to shoot for price wise with a 2010 LS or LT?
  9. rmdig79

    rmdig79 New Member

    Go For It

    We've had our Lt for a week now and love it and can't wait to go camping in a few weeks. We've had to rent a truck the last few years when we head up to the mountains and this trip is going to be awesome. You will really enjoy driving it. Not sure if its valid where your at but here Chevy also has the 4K in cash incentives going on still on the silverado.
  10. Trauma5951

    Trauma5951 New Member

    i was trying to figure out if the 0% apr was better depending on how much i put down or the 4k back was better.

    It is all going to depend on how the trade in system truly works.

    If i literally get $16000 towards paying off my current and the difference towards a new, im getting me a truck.

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