Cash on the barrel head.
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How do you pay for your truck?
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Originally posted by CTR0022 View PostI put as little down as I can and get the longest term loan I can get on the lowest interest rate I can find.
I then pay the loan off early. For example my last truck I paid it off in two years and had a 66 month loan. Every 3-4 months I make a payment of several thousand dollars, normally $3-5k till its paid for.
And I dont buy new, find a good used truck with low miles, something in the 3-4 year old range. And drive it for 10+ years.
Mostly pay cash. In the event I do finance I do the same as above.
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Originally posted by HoustonHunter94 View PostTraded my 2007 F150 KR with 110K on my 2013 KR in 2016. Paid it off in a year, been driving it since. 74K miles. I will never own a new truck again at the prices they are. Will always buy used and plan on driving what I have for a long time. The days of looking cool in brand new truck and impressing other people are long gone for me. It's transportation, nothing else.Originally posted by piercebronkite View PostHeavy down payment, 0% interest, be smart with your money. Can I afford a 70-80k truck? Yes I can but chose not to and to live well under my means (which somehow society has forgotten). However, Im not keeping up with the Joneses. My truck is a utility.
My previous truck I had for 12 years and rode it to the ground.
Now my wife on the other hand, she gets what she wants this time around she wanted a Jeep. We spent waaaaaay too much on a lift, after market wheels/tires, accessories, etc but she is the much better half of our marriage, and I want her to have what she desires
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Originally posted by jer_james View PostWhy would you toss a chunk of change at a vehicle if you could save your cash on hand and finance at .9%?
You could save that chunk, and throw it into something that actually makes you money.
Now if you can’t get those insane rates, by all means.
Speaking for myself I am risk averse. Anything that has a lein on it is risk.
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I don't know what some of yall do for a living, but are you hiring?
I would have to say that on average, 8 out of 10 blue collar families cant drop cash on the table or afford a payment on a sub 4 yr note. Here's what I do, I get the most vehicle I can get for the least amount of money possible. Its that simple.
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Originally posted by AntlerCollector View PostI negotiated the sell price before you ever discussed how to pay. I got good deals on both vehicles. You don’t have to sacrifice anything to get a good rate.
100%! Negotiate a price. Then negotiate terms. It’s absolutely not true that “make up” for low financing is baked into the purchase price. Now maybe if you go in there and the first thing you say is “I want 0% financing” or “I want my payment to be $688”. But that’s just dumb.
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Originally posted by jer_james View PostWhy would you toss a chunk of change at a vehicle if you could save your cash on hand and finance at .9%?
You could save that chunk, and throw it into something that actually makes you money.
Now if you can’t get those insane rates, by all means.
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