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re: 30K to spend on a truck, what would you buy?
Posted on 4/23/13 at 2:44 pm to AUtigerNOLA
Posted on 4/23/13 at 2:44 pm to AUtigerNOLA
quote:
A newer model Toyota Tacoma Double Cab. Resale value is great, lasts forever, and saves on gas.
This IMO.
1
Posted on 4/23/13 at 2:54 pm to OldSouth
quote:
A newer model Toyota Tacoma Double Cab. Resale value is great, lasts forever, and saves on gas.
i could recommend this. just traded mine in after 8 years. engine still ran like brand new with 162k miles.
it was everything else that was falling apart
Posted on 4/23/13 at 3:05 pm to lsuCJ5
I'll sell you a 2007 Chevrolet Silverado 4x4 with 120,000 miles. Most reliable vehicle I've ever owned. Plenty of good miles left in her. Needs new tires, though.
You can invest the rest.
Edit...yeah, neither one of us should be selling their trucks, as tired as I am of 17 mpg.
You can invest the rest.
Edit...yeah, neither one of us should be selling their trucks, as tired as I am of 17 mpg.
This post was edited on 4/23/13 at 3:08 pm
Posted on 4/23/13 at 3:32 pm to fbb
quote:
What doesn't make sense about keeping it?
Depreciation will be quickly picking up and 5k is pretty outstanding if you ask me.
Posted on 4/23/13 at 3:32 pm to dewster
quote:
17 mpg
that is kicking arse in that truck. I'm getting around 12.5 in my '04 4x4 Tahoe. All city driving though.
Posted on 4/23/13 at 3:47 pm to fbb
thats the worst investment is to buy a brand new truck. you loose way too much money soon as you drive it off the lot. just sayin.
but eco boost f150 cant be matched by any other truck
but eco boost f150 cant be matched by any other truck
Posted on 4/23/13 at 4:49 pm to brbowhunter
quote:
thats the worst investment is to buy a brand new truck. you loose way too much money soon as you drive it off the lot. just sayin.
not necessarily right now, buy right and you can sell right in this strong used car market.
Posted on 4/23/13 at 5:04 pm to trillhog
People love to throw out that statement about driving it off the lot but nice trucks in this area hold value very well
I just traded in a 3 year old truck for 7k less than I paid for it
And no one drives it off the lot and tries to sell it back the next day so the instant depreciation doesn't mean a damn thing
I just traded in a 3 year old truck for 7k less than I paid for it
And no one drives it off the lot and tries to sell it back the next day so the instant depreciation doesn't mean a damn thing
Posted on 4/23/13 at 5:45 pm to brbowhunter
Usually buying a car/truck is never an investment. But in our parts of the country, we need transportation so it's just a necessary purchase.
Posted on 4/23/13 at 6:27 pm to lsuCJ5
Just curious. How old are you? Are you maximizing your contributions to 401(k) and other retirement accounts? Do you have 6 months of living expenses tucked away?
Posted on 4/23/13 at 8:44 pm to trillhog
quote:
not necessarily right now, buy right and you can sell right in this strong used car market
And with all the rebates/incentives right now, there's really not much haggling to do. I see trucks all over the place for at least $10,000 off MSRP.
Posted on 4/23/13 at 10:07 pm to lsuCJ5
New F150 FX2. That's what I bought in September for $29300
Posted on 4/24/13 at 7:52 am to lsuCJ5
2013 ram 1500
ram has come along way in the past few years
ram has come along way in the past few years
Posted on 4/24/13 at 8:00 am to Croacka
I actually bought an 09 Silverado Crew Cab back in 2010 (toyota dealership) with 8,000 miles for 24k (2wd lt model) and drove it for 6 months and traded it in at a Chevy dealership for 25k with 19,000 miles.
Posted on 4/24/13 at 9:20 am to rickgrimes
quote:
Just curious. How old are you? Are you maximizing your contributions to 401(k) and other retirement accounts? Do you have 6 months of living expenses tucked away?
33, the truck is paid for. And yes i contribute to 401k and have 5 different IRA's. And yes i have close to 6 months of an emergency fund saved up. So those of you saying i need Dave R's advice, do I?????
Posted on 4/24/13 at 9:22 am to wegotdatwood
quote:
I actually bought an 09 Silverado Crew Cab back in 2010 (toyota dealership) with 8,000 miles for 24k (2wd lt model) and drove it for 6 months and traded it in at a Chevy dealership for 25k with 19,000 miles.
this is why i am considering selling. I paid 26k. Currently trade in is 22k and private party value is 25k.So an I a fool for paying off the truck and selling it for 1k less than i paid for it almost 3 years ago?
Posted on 4/24/13 at 9:38 am to ljd4662
quote:
why don't you recommend Dave?
His stuff is okay, just keep in mind that it's basically "personal finance for dummies". Unfortunately some of the people who read his stuff get confused and think he's showing how to do things well. He isn't, his advice revolves around how to quit fricking up so badly.
A good example is his treatment of debt and, well, cars. He advises that one should never go into debt (except for a house maybe), and that financing a car is especially bad. That isn't a bad rule to follow, but it isn't really quite true. Debt is perfectly fine if the rate is low enough, and the problem with new auto purchases is that new vehicles lose value incredibly quickly, which has nothing at all to do with financing.
ETA: To his credit, Ramsey knows all this and doesn't pretend otherwise, he's simply trying to reach an unsophisticated audience with a message they'll respond to.
This post was edited on 4/24/13 at 9:52 am
Posted on 4/24/13 at 9:38 am to lsuCJ5
don't support "welfare" motors.
get a ford. you won't regret it.
get a ford. you won't regret it.
Posted on 4/24/13 at 10:18 am to foshizzle
quote:
it's basically "personal finance for dummies".
I disagree.
quote:
He advises that one should never go into debt (except for a house maybe), and that financing a car is especially bad. That isn't a bad rule to follow, but it isn't really quite true. Debt is perfectly fine if the rate is low enough, and the problem with new auto purchases is that new vehicles lose value incredibly quickly, which has nothing at all to do with financing
If you finance a vechicle then you are already paying interest on something that is going down in value. That doesnt sound very smart. I know youre going to come back and say that you can make X% investing this money and you interest rate is <X% therefore your coming out ahead, but you are not taking risk into account. Nothing is guaranteed. I would rather pay cash.
quote:
ETA: To his credit, Ramsey knows all this and doesn't pretend otherwise, he's simply trying to reach an unsophisticated audience with a message they'll respond to.
I also dont think youre right here. If he were to say one thing but do another then he would ruin his brand. I think he has to approach his finances exactly how he preaches.
Posted on 4/24/13 at 10:37 am to ljd4662
quote:
If you finance a vechicle then you are already paying interest on something that is going down in value.
My point is that the problem is buying a new vehicle. Whether you finance it or not is an unrelated decision that stands on its own.
quote:
If he were to say one thing but do another then he would ruin his brand.
I didn't say that, read it again. He doesn't claim his advice is 100% correct, but that it is reasonably correct but easier to understand and follow. This is not the same as saying one thing and doing another and doesn't damage his brand at all.
This isn't just my opinion, he has commented in various places that this is true. For example, his advice on paying down credit card debt is to start with the smallest balance first. 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. I don't have the quote handy, but it's there.
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