Time to buy a new truck

[MadHatter]

7.25%....was this place just a front for some loan sharks?

Exactly. Either that it the OP's credit rating is Gid awful. No way anyone with good credit should pay anywhere near that rate.

[Anybodyhome]

I own a 2009 LTZ Tahoe I purchased in 2010. From the manufacture date I bought the truck when it was less than a year old. The original window sticker was in the glovebox, and I still have it, for $62k. I paid well under $40k for it.

Gas prices the way they are right now, the depreciation is at least 25% as soon as you're off the lot.

[Chimera]

I'm surprised so many car dealerships in NC are still open. It is laughable how stupid salesmen think people are. Oh, wait...

[panther4life]

Murph, I don't sell chevy's but im the business. Let me know what your looking for and price and I am sure I can set you up with a pain free experience. I know people at 2 different chevy places in charlotte. As far as that rate goes, did they even look at your credit? No bank will even let them sell you a rate at more than 2.5 points higher than they approve you at.

[Murph]

Thanks for help. I'll keep it in mind when I get really serious about buying. I never let them set me up for financing. That rate was their starting point towards the high end. He said if my credit was good it would come down but I informed them 3 different times that the money would be coming from elsewhere. No big deal. They still haven't called me so obviously I am not a priority. The price on that truck went up several hundred dollars on their web page over the weekend. Kind of funny considering it was at its previous price all summer long until I went in with a copy of it. Anyways, I plan to get more serious with the 2013 models later this year. I am in zero hurry to get a new vehicle right now. If I could have gotten that one for about 4k off their already reduced internet price, I might have made a move. Instead they raised the price 3k so we are about 7k apart and I doubt that can be reconciled.

[charlottenian]

Two points....

1) Why buy new? Why not get one a year old that has probably lost 15-20% of MSRP all ready. I am attaching the wholesale/auction data on 2011 Suburban 4x4 LTZ package, MSRP on it is near 58k and it looks like you can get one a year old for about $13-15k cheaper

2) 7% interest, unless you have a FICO score that's 500 that rate is garbage. www.penfed.org 60 month used or new car rates are 1.49%, I just recently bought myself a personal car and although I would prefer to pay it outright I ended up using this financing rate because the rate is so cheap I get a higher return on my personal money. It's anyways prudent to get your financing arranged before going to a dealer because going to a car lot is a two stage war, one with the price and one with the finance department.