- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: 30K to spend on a truck, what would you buy?
Posted on 4/24/13 at 10:54 am to foshizzle
Posted on 4/24/13 at 10:54 am to foshizzle
quote:
In his own book he acknowledges it's actually better to pay down the highest rate card first but that he wants people to get encouraged by quicker results
you are correct there, but he says to pay off the smallest first to have some encouragement to keep going. Little victorys keep you motivated. I dont see any problem with that quote because the ultimate outcome is still getting out of debt. Unless its a payday loan, the rate probably wont make too much of a difference.
1
Posted on 4/24/13 at 11:27 am to ljd4662
quote:
he says to pay off the smallest first to have some encouragement to keep going. Little victorys keep you motivated.
Right, that's what I said. I don't understand what you disagree with.
Posted on 4/24/13 at 11:48 am to foshizzle
It's like if you went on the F&D board and said "hi, what's a good diet for losing 10 lbs." There are two answers. One is, cut down on refined sugars and jog a little. The other is, eat only raw fruits, vegetables, and steamed fish, measure everything you eat to the ounce, run stadium sprints, and lift 4 days a week.
The second is obviously better. But how realistic is it to expect someone to go from doughy cubicle dweller to hardcore fitness nut like flipping a switch.
The second is obviously better. But how realistic is it to expect someone to go from doughy cubicle dweller to hardcore fitness nut like flipping a switch.
Posted on 4/24/13 at 11:49 am to ljd4662
Point is someone that really understands credit and how to use it wouldn't benefit from Dave's approach but then again they probably wouldn't be reading his books either.
Right now I can buy a new vehicle and finance with PenFed for 1.74%. Do you think Dave would recommend I use 40k cash for that purchase or finance it?
Right now I can buy a new vehicle and finance with PenFed for 1.74%. Do you think Dave would recommend I use 40k cash for that purchase or finance it?
Posted on 4/24/13 at 12:18 pm to yellowfin
quote:
Right now I can buy a new vehicle and finance with PenFed for 1.74%. Do you think Dave would recommend I use 40k cash for that purchase or finance it?
Exactly. IMO, it would be wise to finance and keep your cash for investing or savings. I would think most people know that cars are not investments.
Posted on 4/24/13 at 1:07 pm to lsuCJ5
would not spend 30k on a truck to start with.
Posted on 4/24/13 at 6:04 pm to Fat Bastard
quote:
would not spend 30k on a truck to start with.
Posted on 4/24/13 at 8:40 pm to Cold Cous Cous
quote:
It's like if you went on the F&D board and said "hi, what's a good diet for losing 10 lbs." There are two answers. One is, cut down on refined sugars and jog a little. The other is, eat only raw fruits, vegetables, and steamed fish, measure everything you eat to the ounce, run stadium sprints, and lift 4 days a week.
The second is obviously better. But how realistic is it to expect someone to go from doughy cubicle dweller to hardcore fitness nut like flipping a switch.
Exactly.
The problem with the Ramsey followers (not his method) is that they tend to think eating raw fruits and veggies and working out is a bad idea, that the only thing worth doing is to cut down on refined sugars and jog. It gets a bit cultish sometimes.
Posted on 4/24/13 at 8:43 pm to yellowfin
quote:
Right now I can buy a new vehicle and finance with PenFed for 1.74%. Do you think Dave would recommend I use 40k cash for that purchase or finance it?
I would say use their car-buying service and finance for 0.74% instead. But yes, definitely finance.
Or better yet, buy an old bicycle for $100 and get your exercise while you commute.
:inb4bikerssuck:
Posted on 4/24/13 at 8:45 pm to lsuCJ5
How about a cj5
Posted on 4/25/13 at 11:51 am to lsuCJ5
New Ford F150 w Eco Boost
Posted on 4/25/13 at 12:26 pm to lsuCJ5
As a shop owner I would get a used Toyota Tacoma. If you need a full size I still say Toyota or GMC.
Posted on 4/25/13 at 12:36 pm to foshizzle
quote:
I would say use their car-buying service and finance for 0.74% instead. But yes, definitely finance.
used car market is crazy right now, if you catch good rebates I've seen new cars cheaper than used
Posted on 4/25/13 at 7:53 pm to yellowfin
quote:
used car market is crazy right now, if you catch good rebates I've seen new cars cheaper than used
that makes no sense.
Posted on 4/26/13 at 7:13 am to lsuCJ5
Tundra
Posted on 4/26/13 at 7:15 am to yellowfin
quote:
Do you think Dave would recommend I use 40k cash for that purchase or finance it?
Dave's stance is if you can't pay cash, you shouldn't buy it. His default is that the only thing you should be making payments on is a mortgage.
Vehicles (regardless of how low your interest rate is), depreciate in value, and you are paying to borrow money.
It's not the wisest way to invest your money regardless of the interest rate.
This post was edited on 4/26/13 at 7:17 am
Posted on 4/26/13 at 7:31 am to brbowhunter
quote:
that makes no sense.
I know
Posted on 4/26/13 at 7:49 am to kywildcatfanone
quote:
It's not the wisest way to invest your money regardless of the interest rate
Cars are not investments. I must of said this three times in this thread. Its better to keep your cash for other things then to spend a big chunk of it on a car, unless you are going to buy a cheap used one. Go that route and you will most likely have problems with the car in the near future that will cost you regardless. Cars are money drainers. But most everyone has to have a vehicle. So when selecting a car/truck to purchase, you should think try to get one with:
1. best resale value
2. long-lasting
3. low maintenence.
4. lower gas mileage.
This post was edited on 4/26/13 at 8:14 am
Posted on 4/26/13 at 8:06 am to kywildcatfanone
quote:
It's not the wisest way to invest your money regardless of the interest rate.
But I'm not investing my money, I'm investing the banks money while I keep mine to invest in other things.
Posted on 4/26/13 at 8:34 am to lsuCJ5
I generally don't recommend domestic cars, but for trucks, Chevy/GMC is where it's at IMO.
I know a lot of people that travel/pull travel trailers frequently and the Chevys seem really (incredibly) durable if you perform regular maintenance on them. The 2011 Tundra frame seems to twist too much under load after a while.
If you only occaisionally need a truck then save the money and get something more economical. You can rent a uhaul to your exact specs when you need it.
I know a lot of people that travel/pull travel trailers frequently and the Chevys seem really (incredibly) durable if you perform regular maintenance on them. The 2011 Tundra frame seems to twist too much under load after a while.
If you only occaisionally need a truck then save the money and get something more economical. You can rent a uhaul to your exact specs when you need it.
This post was edited on 4/26/13 at 8:36 am
Page 3 of 4
Popular
Back to top
Follow TigerDroppings for LSU Football News