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re: Who’s buying a new truck this month and what prices and financing numbers are you getting?
Posted on 3/18/24 at 6:29 am to Tantal
Posted on 3/18/24 at 6:29 am to Tantal
quote:
That's damn near new by my standards. I live less than 3 miles from work, almost everything else that I do is within a mile of my house, and anytime we go anywhere as a family, my wife wants to take her car because it's easier to get in and out of. I can't justify a $1,000 car note plus $100+ in insurance to drive 200-300 miles/month, so I drive old (200K+)'Yotas that I pay cash for.
I drive a bit more than that but I’m the same way. We’re about to replace my wife’s explorer here soon with a new family suv. But I have a gx with 198k that I paid cash for last year. Repairs are necessary but better than a car payment. Looking for an LX or a landcruiser next go round. frick paying 60k for a new truck that has to go to the dealership for “software updates”
0
Posted on 3/18/24 at 6:30 am to CP3LSU25
quote:
Buying a vehicle is the dumbest purchase you can make these days
Are you talking about leasing? GTFOH
Or are you talking about vehicle ownership in general? If so, you must be a city boy.
Posted on 3/18/24 at 6:42 am to BabyTac
quote:
If you have to finance it, you can’t afford it.
I finance everything and it seems to work out just fine. Why would I take money out that’s making more in interest to pay off something?
Posted on 3/18/24 at 7:00 am to shel311
It’s actually pretty sound advice.
If you’re financing the vehicle bc it’s a lower rate than the stock market or CD, you need to have the vehicles worth of cash in those places for it to actually be making the interest to offset the loan.
Most people just think they’ll finance it but don’t have the cash value so they’re actually not making that hypothetical return AND they’re paying the interest.
If you’re financing the vehicle bc it’s a lower rate than the stock market or CD, you need to have the vehicles worth of cash in those places for it to actually be making the interest to offset the loan.
Most people just think they’ll finance it but don’t have the cash value so they’re actually not making that hypothetical return AND they’re paying the interest.
Posted on 3/18/24 at 7:19 am to BeauxNArreaux
quote:exactly
Most people just think they’ll finance it but don’t have the cash value so they’re actually not making that hypothetical return AND they’re paying the interest.
“Why pay cash when I can earn more in the market?” Because 90% don’t actually invest that cash in the market because they either need it elsewhere or don’t have it to begin with
if you have the cash, pay cash. It will cost you much less and give you 100% flexibility if things change. If you don’t, then finance
for the 1% who have the option, good for you. The rest of us have a decision to make and it’s either/or.
Posted on 3/18/24 at 7:20 am to TJack
You should demand at least $20K off sticker if you believe sticker is a starting point in negotiations. Inventory for everyone but toyota is at historic highs.
Posted on 3/18/24 at 7:31 am to Miglez
quote:
pay cash for a depreciating asset
good one dude 
Posted on 3/18/24 at 8:24 am to Saint Alfonzo
quote:
Full size trucks like a Tundra were $65,000 and up. Mostly up.
I bought my truck 2 years after it came out with 36K miles and it was about $25K less than brand new ones. A lightly used one saves you so much. The depreciation is insane.
Posted on 3/18/24 at 8:36 am to Miglez
"If you can't afford to pay cash for a depreciating asset then you can't afford it.
Save yourself the trouble, buy a used truck and put that $600 a month into a Roth IRA."
Even though rates are high, CD's are keeping pace at 5% plus. Auto loans are simple interest while a CD is compound so, if you finance at 5-7% and put that cash in a CD instead, you'll be making money.
Save yourself the trouble, buy a used truck and put that $600 a month into a Roth IRA."
Even though rates are high, CD's are keeping pace at 5% plus. Auto loans are simple interest while a CD is compound so, if you finance at 5-7% and put that cash in a CD instead, you'll be making money.
Posted on 3/18/24 at 8:41 am to Jim Rockford
quote:
GMC Denali 4WD for 73k. Didn't really want one but needed to spend the money. Long story.
Damn sounds brutal..
Posted on 3/18/24 at 8:42 am to TJack
Bought a Sierra last week. They offered $7k in incentives or 2.79% for up to 72mos. I went with the $7k in incentives and financed at 7.79%. I’ll refi this week to my CU at 4.99%. Only financed a small portion so it made sense.
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