How do you pay for your truck?

[meathunter]

I do not purchase one without getting 0% interest and I finance over 60 months.

[skinsfan]

I think there’s a lot that don’t want to admit they finance the heck out of most of the stuff they own lol!

I finance at a low rate. Pay off early. I hate payments. I can’t pay cash for a newer vehicle. Kudus to y’all that can!

Honesty, it’s refreshing. I am not in a position to buy a 65k truck, much less with cash, but we buy modest vehicles and pay them off as fast as we can. I don’t like payments so we avoid when possible but hey, no one is perfect!

[meathunter]

well said!! When they offer 0% financing, they also offer rebates, you get one or the other, never both

Not true. I purchased my wife a vehicle this week at 0% and walked out with rebates, more than I thought on a trade in, and was happy. I know the general manager, and that helps. I also, have purchased 7 vehicles in the last two years from them, so they take good care of me.

[BuckSmasher]

Chest beating is getting intense!

For real. I think that is behind 90% of new truck purchases anyway.

I know a lot of folks that have squandered tons of money on late model vehicles, I will continue to advocate a Dave Ramsey-ish outlook to new vehicles to anyone that will listen, because it is wise.



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[CTR0022]

I 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.

I suggest coming to the dealership with your own financing. Credit unions normally offer the best rates. There is a very small chance any dealership can beat the rates your get at a credit union unless the manufacturing is offering 0% or some other special rate.

[muzzlebrake]

Since 1985, 1995, 2005 and now 2019 all cash. Same with boats and motorcycles.

[andre3k]

I bought my 99 4runner 4wd with 285k for 2200 with a clapped out motor. Dropped a jdm motor and rebuilt the front suspension. I have less than 5k in it. I'm at 320k now and I'm wondering how long she'll go. Thats about the closest I'll get to a new truck. Rocking a VW GTI as my daily.

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[rvd]

This thread morphed into comedy

[Boyd1212]

Drive a 06 superduty that I bought used 5-6 years ago. Paid it off in 1.5 years. Wife has a 17 Acadia and we financed it for 4 years and paid it off in 2.5 years. I only buy used for myself and new for my wife. We also don’t buy the highest dollar vehicle we can find. I will keep my superduty for another year or so and then buy another used truck. We will keep my wife’s Acadia till about 80k miles and then sell it. Ill have probably half the cost saved up in that timeframe, and finance it for 4 years and try to pay it off in two.

[bphillips]

Figure out what I could pay in cash if I had to, negotiate a price, then take advantage of a 0% financing deal. I’m not paying that off early either as there is no reason unless I’m in over my head.

[K. Lane]

My employer pays me $1200 a month to “rent” my truck

So... truck note, insurance and maintenance is paid for... I am only out diesel

[tdwinklr]

first of all, I don't buy new trucks or cars. Plenty of top-notch used ones out there to avoid negotiating with a knucklehead dealer and still wind up paying $20-35000 for a new vehicle that loses value the first mile off the lot.
Put as much cash down as I can, aside from what I get out of the one I'm getting rid of.

[Jmh05]

Equity from previous truck and use my drill pay for the truck payment.

[RLB]

I heard biden and "heels up" were gonna give everyone an electric car...….

[CaptainDave]

Loan: large down payment, 0% interest. Buying new isn’t all bad, just have to buy at the right time and do your homework. Study up on rebates, interest offers, etc. Wife is on her last car payment this month but we’ll continue to make that payment to savings for a few years so we can 1- just use that cash down, 2- use her paid off car as trade, 3- use both and dang near have a new one paid off.

This is solid advice. Drive a vehicle without a note as long as you can tolerate and put money into savings for the next one while doing so.

In reality, most people put zero or close to it down and finance for no less than 5 years. Then before it's even paid off, they want a new vehicle, trade the old one in and start the process over.

There are more affordable new vehicles out there. They are just not 3/4 ton diesels, top trim 1/2 tons, 4 door Rubicons or the high-end foreign you name it.