How long do you keep your truck?
Seems to me most people around this site think that 100,000 miles and 10 years is an old truck. Just wanted to get a feel if that is correct or not? I'll start. First truck I owned was a 196...
Forum Discussion
majorgator wrote:abc40kids wrote:
I do a lot of work or the car dealers and see guys come in all the time and say I'm paying cash.....and they do from a loan they took out at their credit union. Most don't have $50 000 laying around.
Man, that's like the worst thing people can do. Only pay cash if you have the cash! That being said, I don't have $50K laying around, but I could scratch up $10K to $20K and get a decent used one.
If you have the right credit union, it can make sense. Navy Fed is 1.49% for a 36 month loan on a new vehicle. Most 0% deals have cash back option as well that could be the better deal if you can get 1.5% somewhere else.
That said, to answer OP - the sweet spot for me is find a truck with 50-60,000 miles on it and I tend to replace it around 150k. I'm at 125k right now so I have the itch but I'm frugal and like no truck payment so I'll survive a couple more years.
I've been an F-150 owner so a well equipped crew cab with 60k miles was cheap enough I could pay off in a year with a trade. With the direction truck prices have gone and wanting to bump up to an F-250 next time, I may delay a little longer to have a substantial down payment on top of trade. Just don't like truck notes. More money for retirement savings and expenses when we use the camper.
