MARK VANDERBENT wrote:
Just curious what these new truck payments are ??? I keep hearing many chime in about their new 12 or 13 truck and I cant even imagine what kind of payment comes with that truck. I want a new truck so bad but after not having a truck payment for a while I think it will be a hard pill to swallow. I guess what I am saying is that I will feel less jealous if I here the payments on these beauties !!!!
Shouldn't be focusing on the payments, instead you should be focusing on the PRICE of the truck. That is the main factor on how much it is going to cost you.
Payments can be skewed a lot depending on how long the loan is taken out for which can be really deceiving. Many dealers/banks are willing to stretch out your loan payments longer to get the sale but by doing so it costs you big time in interest.
I would recommend that you take a look at a amortization calculator,
HERE which is a simple one. I would recommend also searching for one that can calculate extra payments so you can see how much interest you can save by paying off early.
If you are very tight on budget then don't buy the top of the line trim package and only buy the bare bones needed items. You will be shocked in how much you can save by not buying diesel, 4x4 and the top tier trim package.
For instance, recently bought a 2013 F250, with 6.2 gas, 4x2 XLT package, stereo with Sync (had to get Sync since it was "bundled" with the adjustable pedals which are great for my DW) and power sliding rear window. Price came in at about $40K, we put $10K down and borrowed $30K. If we would have gone Diesel, 4x4, Platinum we would have been in the $60K+ area.
Do some window shopping and some homework and figure out how much budget you can afford before committing to a payment..
There are "programs" out there that do help getting decent prices, for instance I bought my truck using the Ford "X-plan" which my company is a Ford Partner. X-plan gives you a fixed no haggle discount which is a few percent less discount than Ford employees. Plus like in my case saved me an price hike (we ordered the vehicle and the the Dealer invoice price jumped $250 from when we ordered to when we took deliver. Since we used the X-plan when we ordered the price was frozen and we did not pay the extra cost.
It is possible to get X-plan Pins from Ford employees, some organization memberships, participating companies (yours may or may not but check with your HR) or if you own at least 100 shares of Ford stock for min of 6 months.
GM and even Ram have similar versions.
