the best time to buy new

The best time to buy new to help get the lowest cost of ownership...

Has got to be right at or within a few months of when the model year changes.

This is because in a few years the market place will first consider the model year for any given truck make or model to establish value. Since new model years normally are introduced in May used truck starts to drop at that point (regardless of when you actually buy it). You may need to step a few years into the future and look back to see what I mean.

examples, two like trucks purchased nearly a year apart;

1)If you buy a truck in May 1, 2000 when the new model year is released, the truck is a 2001. 36 mouths later,from a used truck value perspective, the market place values this truck like the truck is only 2 years old instead of 3.* You have a 2001 model year truck for sale in May of 2003.

2) If you bought your new 2001 truck on April 30, 2001 your 24 months later On April 30th the values about the same value as the truck in example 1.

Realistically, the wholesale value for a truck that has 240,000 on it versus 360,000 is about the same. Both have plenty of factory warranty left, the one with 360k will probably have new rubber on the rear, the one with 240k will probably need rear tires. Bottom line is that if you follow example 1, you've depreciated your truck a year for a little more the cost of a set of rear rubber.

*an additional benefit of May - June purchases is that the used truck marketplace revalues trucks relatively slowly at model year change. In other words, even though the truck is another model year older, it doesn't change value 5-10 thousand dollars overnight, it typically takes 4 or 5 months.

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This page was last updated 06/17/05