Besides the 9k, he also lost whatever payments he had made, as they started the clock again on the new loan.
You ask how much to spend on a vehicle. While I am a fan of buying new and driving it till the wheels fall off. I always try and buy a vehicle that matches my needs not my wants. Bought a new Nissan truck, 3 years ago, that has roll up windows. But it matches my needs.
My question is, what possible need does your friend have for a 72K truck? Is he a rancher? in construction? Is he a full timer, that pulls a heavy 5er? Or he just going to use it to drive back and forth to work, and it is just a ego stroke? If the latter, I think spending that kind of money is just crazy
