Opinions on a deal I'm getting on a truck

[Bigdad013]

I have the opportunity to purchase a 2011 Chev Silverado 2500HD. It will be perfect for pulling the boat. 80,000 k on it, apparently mint condition. It is a lease buy back, for a great price. I have not been used car shopping for some time but the price is too good to turn down. From what I have researched, even if I don't like it, I could flip it and probably double my money. Any pros/cons on this vehicle? I know mileage won't be great, but thats ok....

[Dacotensis]

You left out an important part.
How much?
Truck sounds like it was a daily driver with 80k on it.

Salient details here fella....

[Dacotensis]

Oops, ok so you could double your money if you resold it.

Let's try this.
How much could you sell it for?

[Bigdad013]

Getting it for 10,500, salesman vehicle, no towing with it, just visiting clients basically

[AdAMxr]

Are we talking the 6.0l gas or the 6.6 dura max? I have the 6.0 as a work truck it's bullet proof. We have about 5 of these trucks on the road and they are unstoppable. They get used and abused and still run strong with 200k + Kms. Gas millage is terrible especially when towing but that's to be expected. There seems to be quite a few people getting rid of them prolly due to the gas millage. My buddy has the diesel and he's really happy with it. They go for quite a bit more than the 6l and seem to be more demand. If your going to flip it the diesel will be way a quicker sale and fetch you more money!

[MK2750]

My buddy got a great deal on a 2500 HD with a 6 litre gas engine. He said is was cheaper to call a cab than drive the truck.

[AdAMxr]

I would ask 26000 for the gas and 36000 if it's a diesel

[Bigdad013]

Originally Posted by AdAMxr

I would ask 26000 for the gas and 36000 if it's a diesel

It's the 6.0 gas. Thinking I should get it for the price alone

[triguy]

I'll take it if you don;t

[Sneeze]

My opinion may be a bit different.

If a deal seems to good to be true, usually it is.

Nobody born yesterday owns a 2011 Silverado. There is a reason why it is so cheap. Unless you are the guys son or nephew you should dig deeper.

Maybe somebody with more experience on the issue can chime in - but is there a possibility the title is branded? Previous write-off brought back to health by somebody in the industry?

[Smokey]

I would be going over it with a fine tooth comb. There is often a reason why something is sold for less. If its legit, thats a silly good price, reguardless of level of trim and options.

[JB_AOL]

Originally Posted by Bigdad013

Getting it for 10,500, salesman vehicle, no towing with it, just visiting clients basically

What kind of salesman? How many hours are on the engine?

I would check everything over, VERY carefully..

You have to ask yourself, why he would sell it for such a deal, when he could make $10g's off it. But maybe he's one of those people with more money than brains..

[Pixel Shooter]

I agree. I would think there would still be power train warranty and usually the dealership gives you 90 days....... I would be all over it it is as described

Originally Posted by Smokey

I would be going over it with a fine tooth comb. There is often a reason why something is sold for less. If its legit, thats a silly good price, reguardless of level of trim and options.

[Bigdad013]

I know the people selling, they are just buying out their lease, they do it with all there vehicles, I am not worried about it being run hard or non maintained, as they have all the maintenance records, I was basically starting this thread on the opinions of this vehicle, Pros/cons

[kevinhits]

Originally Posted by Bigdad013

Getting it for 10,500, salesman vehicle, no towing with it, just visiting clients basically

When I was looking for a 3/4 ton, some of the best prices were Oil/Gas Field operator trucks....I would check the undercarriage...I know you are looking for pros and cons on this thread, but the price seems way too good to be true...Is this a single, extended or dual cab? Some of us are just looking out for your best interests

[norwestalta]

I've got a 09 and a 13. 240000km on the 09 and so far and no complaints. If you want it get it.

[Bigdad013]

I do appreciate the comments so far, I have decided to buy it, will post after, details of the truck and condition and such.
It is a crew cab, fully loaded except leather seats. Looking forward to the new ride.

[JB_AOL]

Something still doesn't make sense..

Residuals on leases (specifically domestics) are usually very close to the future market value (at the end of the lease). unless there's been accidents or issues.

And something esle doesn't smell right.. Why would someone basically gift you $10g, when they could've easily sold it for $20g, without even trying.

Like I said previously, if it is true, then whomever you are buying this off is a fool with money, and I've got a steal of a deal on a bridge for them..

[chriscosta]

I know it older but I had q 2003 6.0 litre 2500 hd chev it went to over 500000 km before losing the tranny and that truck pulled heavy ass trailers and was rode real hard up until it died ..it was a gorgous truck in and out and was tougher than tough imo ... but 120 litres of gas would take me only 380 ish kms ...I used to lugh n say 5here should be flames comin out the tail pipes for the amount of gas it used litterally double compared to my half ton

[Gbuss]

I would flip the truck and make 10 to 12 grand and i would go buy a new truck from the dealer. A 6l gas is going to eat your money up in fuel. Get a newer deseil. You wont spend as much towing your boat or trailer.

Gordon

[spurly]

The buy out would be more than $10500, better be careful.

[benamen]

The buy out could be lower depending on the payments. If you plan on keeping the truck as a personal truck after the lease is up, make larger lease payments.

[kevinhits]

Originally Posted by benamen

The buy out could be lower depending on the payments. If you plan on keeping the truck as a personal truck after the lease is up, make larger lease payments.

He is buying it as a lease buy back from someone else

[benamen]

What was the original intention of the current owner? I am just supplying one thoery why the buy out is low.

[tbiddy]

I run a 2009 2500HD. Great truck. No problems but man does it eat fuel. Found we only pull the 5th once a year. So the next truck will be a 1/2 ton and a different trailer. For comparison There is one in the buy and sell on here that is 2 years older with just over 90k for $28500. I've learnt that if a deal is too good to be true it probably is. If it's legit buy it immediately.

[Ice Fishing Maniac]

For the truck, I have it in a 2009 cc 4x4 with 2" level lift, bought new in 2010. Now at 137K. Been a great truck: keep foot off gas and stay around 105-110, mileage is ok. Go over and it starts to eat it! (Over 2000 rpm). I pull a 31 ft holiday trailer no problem.

[dumoulin]

Sound like too good of a deal. Was this a drowned truck from southern Alberta? If get a Carfax.... Or at least check infer the carpets for mold or rust.

[JB_AOL]

Originally Posted by benamen

The buy out could be lower depending on the payments. If you plan on keeping the truck as a personal truck after the lease is up, make larger lease payments.

ok, so why would you make larger payments instead of just financing? Considering it'd probably cost an extra $30/mth..

Doesn't make sense.

Hopefully I'm wrong, but something is fishy..

[benamen]

You would make larger payments if you are able to write off the lease payments. The buy out will be lower and you are making payments with pre tax dollars. The idea is to be able to purchase the truck for personal use at a low price.

[brother1]

Take it into a GM dealership and have them do a full inspection on it, also get a carfax and equifax report done on it, and have a lien search done at the registries. This is the only way to know if the vehicle is mechanically sound, and if it has ever had any reported accidents. Business is business and friends might forget to tell you little details about the vehicle. I bought a Blazer off of my "friend" years ago..."never had to put a dollar into this truck" he said....And he didn't, because I had to put lots of dollars into it, it nickeled and dimed me to death until I sold it.