New Trucks for Under $200,000?

Yes, you read the headline correctly. The word on the street is that a major manufacturer of auto transport trailers will soon be offering new trucks and new trailers for under $200,000. If you're in the market for a new truck, you might want to hold off before you sign the papers for that huge truck loan.

If you pay $200,000 for a truck instead of $230,000, assuming an APR of 15% for 60 months, not only will you save the $30,000 in principal, you also save $7,500 in interest payments. It works out to $625 less going out the door every month.

Plus, if you're going with a new piece of equipment, there will be that much less cost associated with upkeep and maintenance.

If you're buying used, there's always the chance something expensive like a rear-end is getting ready to let go. Then you have to consider the extra cost of buying a warranty-- if the truck is even eligible. Plus, if the trailer has been over the road for several years, there's probably going to be some stuff that needs to be replaced or repaired: lights, wiring, chains, valves, etc. It all adds up.

I'd be looking for these under $200,000 trucks to be advertised some time toward the end of '05.