blt2ski wrote:
wowens79 wrote:
I bought my first new vehicle in 2002, I was 33, and we found out we had a second child on the way, so I needed a crew cab. Bought a 2002 1500HD LT, which was top of the line back then for $31,000, sticker was $38k.
I'm still driving it, and it has 245K miles on it, and has left me on the side of the road one time. It's been a great truck.
Luckily I've still been making the same $400 car payment into a savings account for the last 14 years. I'm gonna try to get another year of 2 out of it, and buy another. That will hopefully get me to retirement.
I won't be going top of the line, probably will be in the middle of the line with an LT, Bighorn, or XLT gasser and be in the $45-47k range out the door.
I hope you realize that is a 2500 in 1500 badging! You have an equal of a C6P gvwr option, that is the old 8600 gvwr 2500 like my 2000 or 1981 before it. Altho that gvwr is not available any more. You still want a 2500 if you want an equal truck to your 1500HD! You will NOT find a GM anywhere close to that setup any more. Nor will you find a FOrd or Dodge. Nissan last I saw had something approaching it, but still have close!
Marty
Edit: oops I had meant to quote Shiner, not Marty. I was referring to Shiner’s remark about not paying cash for a vehicle because he can hopefully make more than the interest by investing the money:
I realize what you’re saying could be true. The point is that spending a lot of money on the purchase of a new vehicle is not considered to be a financially wise thing to do. Obviously none of us need a $90,000 truck. If however we manage our money well there may come a time when we will have a high net worth. When that time comes this particular advisor is suggesting that spending up to 5% of a person’s net worth on a new vehicle could be considered justifiable. Whether you pay cash or not is a separate decision.
