Talk me off the ledge

[goblues38]

So I have a 22 37's on order. The Raptor is basically my dream truck and I am beyond excited to own one. My current order was Nov 8th, with a 3/7 build date now pushed to 3/21 (I'm not complaining about the push, we are all dealing with it). The reality is that it's probably going to be pushed a few more times and then likely even more delays after it's "built".

The dilemma is this.. i'm waiting for a truck that is nearly 6 figures (yes I have ADM that puts me in the 90s). Even at MSRP 84K is substantial. Also this market is inflated.. we all know it. What's going to happen when supplies normalize, inventory grows and this waiting is done. Will our values tank?

I'm considering just buying a used truck to get me through these times and then revisit the raptor in a few years when things are more normal. I'm sure you've all had similar thoughts. What kept you on the Raptor train?

2 words....GAP INSURANCE!!!

 

[belacyrf]

2 words....GAP INSURANCE!!!

LOL I'm putting a fairly sizeable down payment.. so I'll owe a good chunk less than the resale value even if values normalize. I was just contemplating the sanity of the whole thing

 

[goblues38]

LOL I'm putting a fairly sizeable down payment.. so I'll owe a good chunk less than the resale value even if values normalize. I was just contemplating the sanity of the whole thing

Our friend is a State Farm agent, and she said people are getting crushed by being upside down on cars and getting them in total loss accidents.

 

[belacyrf]

Our friend is a State Farm agent, and she said people are getting crushed by being upside down on cars and getting them in total loss accidents.

Yea I would never buy this truck with a small down. I'm putting 30K down, so I should be ok. I use State Farm too... have you heard how these things are being valued in wrecked situations? Does State Farm these Raptors based on their current market value (extremely high resale and all?) Or do they devalue them? Do you know?

 

[dmxstak]

I ordered a 22 37/Recaro truck last month but picked up a 21 801A in the meantime for 3500 over sticker. I absolutely love the truck and it just made me even more excited to get the 22 in. I plan to trade the 21 in on my 22 order whenever it comes in, and judging by the market, should do fairly well. For what it's worth, I was driving a high mileage Tacoma for a few months, and really was tired of driving something so boring lol

 

[dspangler]

LOL I'm putting a fairly sizeable down payment.. so I'll owe a good chunk less than the resale value even if values normalize. I was just contemplating the sanity of the whole thing

I definitely would not do this deal. If you have to have a vehicle now, I would opt for something else that you can find a decent deal on (few and far between - I know). It just makes absolutely no financial sense now to buy a new vehicle. There are so many good options out there, and you will be surprised at what the vehicle market will look like in a years time. With interest rates up, inflation soaring, and the market tanking, there will be a huge shift in supply/demand for things. You will be back to 2017/2018 vehicle pricing levels (deals readily available).

 

[goblues38]

Does State Farm these Raptors based on their current market value (extremely high resale and all?) Or do they devalue them? Do you know?

NOPE!

Cars are still being "valued" at old MSRP + drive off the lot value drops. Customers are getting screwed coming and going.

 

[New recaros]

That loss only happens with cheap insurance. They only cover cash value. One can be upside down if financed. Spend a few bucks extra and get a replacement cost policy. Ours replaces with one model year newer for three years. The additional cost is something around 200 a year.

 

[RadRaptor]

In my opinion, Raptors have never tanked in value.... And depending on where you live or buy, there is typically often ADM- even after the dust settles... I have had mine for 2 weeks, ordered last June, was pissed that I got a 21 in 22, but it was WORTH the wait....

 

[Xtinct]

I'm considering just buying a used truck to get me through these times and then revisit the raptor in a few years when things are more normal.

Have you considered something like a '96 Ranger Splash extended cab in nice condition? Could be a cool alternative until things calm down.