Would you tell us your payment with that new truck ??

[MARK_VANDERBENT]

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 !!!!

[Mont_G_J]

I'm not impressed by those of you that take money from your savings to pay cash for a vehicle when interest rates for a new vehicle loan are at an all time low ranging from zero to 2.5%.
Money investments, made for me by my financial adviser, have consistently exceeded 12% in recent years. To pull money out of there and pay cash for a truck doesn't make sense.
Paying cash in the old days when interest rates were much higher was probably good advice back then, but the fatherly advice you got fifty years ago may not hold true today.
I believe having savings increasing in worth, and making low interest truck payments, is wiser, than a 'paid for' new truck setting in the driveway.
At least that's the way I see it.

[gbopp]

jasult wrote:
this is my new to me f350 super duty 3 months ago
4 thousand dollars down and no payments :B

That's my kind of financing. 🙂

[travelnutz]

Only way to buy a vehicle etc is: 100% down and ZERO $ monthly payments to anyone but yourself. How do you do that?

Start with a lower priced used vehicle when young or now and pay it off on a shortest term loan you can still handle. Then keep on making the same exact payments into your own savings account after the loan is paid off until you buy a newer vehicle or a new vehicle a few years down the road with nearly all or all cash from that very savings account. Don't over buy!

Then to continue saving for your next vehicle by making what ever the min payments there would be on the newer or new financed vehicle for as long as you own it until you buy your next better (the one you really want) new vehicle down the road and you'll have ALL the cash needed for 100% down and NO monthly payments to anyone but your own bank account!

Your bank account is yours and grows and will be ready for your next vehicle purchase and is also a life saver if real emergencies rear their ugly head. Always remember that the $3K to $7K+ of interest you would have paid out for a loan is now yours and also gains some accrued interest too!

All you need to do is keep your eye on your target and be diciplined and in control. If not or you don't, the bank or financing institutions will be very happy to receive your monthly payment which includes a lot of it going to interest especially in the first 2/3 to 3/4 of the life of the loan!

Get smart and stay smart!

[tbred]

TomG2 wrote:
A fellow at work was told by his dad to save for a house, which he did. Trouble was, the price of houses went up faster than his savings. He didn't get a house, until his dad passed away.

Very true!


Traded '08 6.4 f250 in for a '12 6.2 f250, had to go w/Ford financing to get all rebates. Payments @ 211.86 for 60mos. but will be paid off this year.

[NinerBikes]

2013 VW Touareg TDI Sport 3.0 Diesel AWD SUV... MSRP $48600, year end sale, $40,200, paid cash. I will drive it for 12 years, if it doesn't get to stupid with VW's servicing something major, like the known propeller shaft rubber bushing failing at 5 years /60 k miles or a failed Bosch CP4.2 High Pressure Fuel Pump grenading the whole fuel and diesel injection system with shrapnel, or shards of metal as the pump eats itself alive, thank you, Bosch.

Keep in mind, I use it to tow a 4000# 21 foot travel trailer... your needs and YMMV, but I can live with the 16.5 - 18.8 MPG I get while towing. Most of my tow trips are big trips, 1000 to 1300 miles or more, each way.

[TomG2]

A fellow at work was told by his dad to save for a house, which he did. Trouble was, the price of houses went up faster than his savings. He didn't get a house, until his dad passed away.

[Taco]

Oasisbob wrote:
It's always better to earn interest than to pay it. In other words save up then buy. Not a popular theory but worked for us.

Not always in this economy when you factor in that you receive less than the rate of inflation on savings. You can often get financing for less than the rate of inflation. Also with the uncertainty of the future, money in the bank can be used however it is needed. A paid off vehicle can't make pay rent or mortgage or buy the groceries if the unknown happens.

There are situations where it might make sense to pay cash. There are also many situations out there where it makes more sense to finance.

[Perrysburg_Dodg]

RoyB wrote:
usually a federal credit union will give you the best loan... Don't rule them out when you are looking for one...

My CU wanted to give us 3.4 APR but our bank gave us 2.3 APR. Asked the CU WTH is up with that and they told me you didn't ask for the best rate????? No more loans from the CU. BTW I have been with them for over 15 years and never missed a payment.

Don

[PatStab]

We save up and pay cash for anything we buy. We bought a 1992 American Eagle and paid cash long ago. Just bought a new Cadillac SRX for a toad and paid cash for it.

Think that someone else is making a lot of money off you by you paying them interest because you want something bad enough to finance it instead of saving for it. Just the way we have always done. Yes, its called delayed gratification.

[dbbls]

I had one payment of 55K.

[nohurry]

My '13 f250 XLT CC S/B 4X4 with 6.2 gasser was $38,000 after rebates. Added extended warranty. Cash and trade was $11,000, 2.5% interest. Payment is $513 for 72 months. Worth every penny! (At least that's what I keep telling myself).

[TomG2]

What's a payment? I budget a certain amount for transportation and payments are included in that. I like to drive late model, in warranty, super reliable vehicles. With today's low interest rates, often 0%, it does not cost much to finance a new vehicle. As a retired full-timer, my requirements are a little different than others.

[4x4ord]

Another vote for paying cash.

[Oasisbob]

It's always better to earn interest than to pay it. In other words save up then buy. Not a popular theory but worked for us.

[Georgew48]

Bought a new 2013 F350 CC DRW King Ranch, sticker 69,980. Got a 9000 discount and traded my 2010 F350 CC DRW King ranch which was paid for and got 42000 for trade. Paid the rest in cash so 0 payment.