Terrible with decisions

[Black Ice]

What is the best is 0% interest over 60 months a new truck sitting in the garage and taking that $75000 in cash and still making money with it and the truck. Then I get my cake and eat it to. But I see what your saying, but there are better options many times than dumping 50k plus cash into a vehicle when I can use use somebody else’s money and it not cost me anything.


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I agree but I always take the low interest rate and the money off sticker. I finance for 5 and pay it off in 3. That way if I lose my job or things change I can unload that truck and not be upside down.


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[geezer56]

I am cheap. That said, I have money in the bank, buy whatever I want if I can pay cash, and do without it if I can't. I currently have a 2000 F-250 with 370K on it, and a 98 Explorer with 150K for goofing off and riding to the lease. I could afford a lot newer stuff, but this still works and it's all paid for. I have put 3 of my 4 kids through school, and they graduated with no debt for education. My spouse got to stay home for 28 years and raise kids. And no, I never made that much money, but I made do with what I made. My advice is to buy the best ruck you can afford and plan for the baby's future.

[Razrbk89]

If getting this cattle lease requires you to buy a $42,000 truck them you must be planning to make a hell of a lot of money on these cows to come out ahead on this lease.

That’s kinda what I was thinking. If you really need a diesel, why pay for the premium when a single cab, base model with a flat bed is the more practical option?

I’d have to be doing a lot of heavy towing to justify the expense. I just dont see the need for a big diesel on cattle operation unless you have a major one. I also don’t understand why people are towing tractors around? Heck, they have wheels!

[Throwin Darts]

What is the best is 0% interest over 60 months a new truck sitting in the garage and taking that $75000 in cash and still making money with it and the truck. Then I get my cake and eat it to. But I see what your saying, but there are better options many times than dumping 50k plus cash into a vehicle when I can use use somebody else’s money and it not cost me anything.


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A 0% finance offer on a truck is just another way to say that you’re prepaying the interest. Either way you’re paying it. On 0% offers you pay the interest in the form of a higher purchase price and finance through the financial arm of the manufacturer. You’ll have a purchase price that “qualifies” for 0% financing but that price will always be different than one that doesn’t assuming all else equal.

If you really think that a dealer is going to truly lend you tens of thousands of dollars and you’re not paying for it somewhere then you’re wrong

[solocam_aggie]

If getting this cattle lease requires you to buy a $42,000 truck them you must be planning to make a hell of a lot of money on these cows to come out ahead on this lease.

I think you're not quite catching my whole drift with this. I need (well, want) a diesel for the cattle lease. It's not a whole lot, but 35 head over 2 places will require a lot of work moving hay and head. I prefer a diesel for such.

If I was to get this truck, it won't be strictly for cattle. It will be my every day driver to Austin. Plus, the wife is not thrilled with the thought of me hauling around the kiddo in either a 100k+ cheap commuter car or a high mileage diesel. She experienced too many death wobbles in my old 200k+ dodge lol! But in saying that, I'm know this is my best option from a strictly financial side. We can keep shoving cash back. I'm just letting comfort a reliability come into play now with a little one coming I guess.

Those asking about a write off, I likely won't be able to. I'll have to talk to my tax gal, but I'll have a butt load of write offs getting the place in shape for the first year.

Again, thanks for all the comments thus far. TBH is like my late grandfather, infinite wisdom with sound logic lol.

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[Mike D]

Terrible with decisions

Appreciate all the comments. As many of you know, I do have a little one on the way. Its a slight reason why I wouldnt mind a new, big, comfortable vehicle with plenty of room in the back seat for the little one. But, its also the reason Im concerned about this lol.

So judging by the comments, have most of you never bought a new vehicle? Or have, but regretted it?

I am stuck between the want and need comment. In all practicality, I could probably get by with a gasser. Im sure the increased fuel and maintenance cost would offset the reduced fuel mileage. These new 17s run like a scalded dog, which I'm not going to lie gets my "motor" going lol. Plus, I feel like Im getting a decent deal with a new diesel that I will likely put at least 200k for $42K.

Without diving too deep into finances, my wife and I are currently putting 35% of our income in savings. I have a raise coming in a month and a half that I hope will come close to covering this extra monthly payment. Our house payment goes down $200/month in a year once our escrow is caught up. I dont think Im so worried about the truck payment putting us in a bind as I am losing some of that 35% freedom.

It's a tough road being as fiscally responsible as possible, yet enjoying life while you have it. At almost 32, I've never driven a new vehicle off the lot, so I think that has something to do with me considering this. Randy I get what you're saying about investing it. My question; did you always get by with the cheapest vehicle possible or did you ever spend more for comfort and reliability? Thats basically where Im at right now.

Your a grown man and able to make your own decisions but here’s what I can tell you from experience. My wife and I always bought new vehicles all our lives. We always had to have the best of the best. If we could afford the payment we didn’t see the problem. Now at 50 years old and LOTS of regret we wish we had changed our financial philosophy long before we did.

We paid off all our debt from 2008-2010 and haven’t purchased a new car since. Paid cash for all of them and have bought used. Currently we have 2 vehicles with over 200k miles on them that get driven every day and another with 112k miles on them. Since buying 5 vehicles (including kids) since 2008, I have had ZERO major repair on any of those vehicles so I laugh when I hear people using warranty as justification for buying new. The best warranty is the one you never use. Truthfully vehicles are built better and are more reliable than they’ve ever been. They just don’t have catastrophic failures with any regularity.

I don’t see myself ever buying new again. It’s just not worth it. I’ll buy the 3-4 year old vehicle and let the fools that buy new every few years eat the depreciation.


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[Acameron52]

I’m much like you when it comes to making decisions. I lose sleep and give myself anxiety over them, specially if it’s a business or financial decision. That said, in your situation, I’d go with the new one. In your shoes right now the $133 a month is nothing to have a nice new truck with an awesome warranty.


I’m cheap but one thing i do spend money on is vehicles. I’m not brand loyal and but whatever i can get for the best deal. Drive it for four years and sell it. Besides my mortgage which is almost paid off that’s all I have every month. It sounds to me like you’ve already made up your mind, go buy that new pickup!!

[Buckley99]

Not a fallacy....read the millionaire next door.

Beat me too it. Great book!

[RR 314]

How can that be true if he is talking about financing a truck? .

A good enough place would be if he was paying cash.



The best option is an older diesel that you just use for the cattle biz.

Keep driving your commuter car if you can.

Your first option was the best one, but new car-itis is highly contagious.

Good stuff here. I was looking at buying a new truck right out of school and my dad said, "Son, I am proud of you. Good job on saving $XX,*** while you were in college." I was puzzled. He finally said, "If you have to finance it, you can't afford it." I am becoming more and more like my dad each day. I am on the board of directors of a bank and see some of the loans we write and it shocks me (84 months). I would be uncomfortable financing a house for 84 months, much less a car or truck! See what you can find used as stated above.

[Buckley99]

A few thoughts...

1. Most wealthy people let others eat the depreciation on the front end.

2. Dave Ramsey’s push to pay cash for vehicles is great in theory but not realistic for everyone in every stage of life. Financing gets people in trouble when it serves as a green light to buy more than one can afford.

3. Just because you can pay cash doesn’t mean you should. This is not black and white topic but something that should be decided on based on several variables.

4. If you are going to lean on financing, you better have the discipline to go with it.

Good luck and, YES, $133/mo will buy quite a few diapers!

Ps my wife and I were pretty financially disciplined when we had our first son, even though we didn’t make much money at that time. That was good because we found out our newborn son had some significant food allergies and he had to be put on a special formula (that wasn’t covered by insurance). We planned and planned for what to expect but we never planned on spending $1100/mo on formula. Give yourself a buffer, as you never know what additional expenses might come along!

[solocam_aggie]

Welp, see you later truck. It was a fun 2 days experiencing what it's like living high on the hog. Couple of y'alls comments really hit home. Think I'm going to shift gears and look for a higher mileage diesel. Sure was tough climbing out of that truck and back into my little Hyndai Sonata lol. It's best for the family. Thanks again TBH

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[TxAg]

^^^ decisions like that will help you retire 10 years sooner and pay your kids' way through college.

[Atfulldraw]

solid.

I always feel pretty special when I get in my paid-for F350 King Ranch loaded to the gills, replacement bumper, seat cooler chillin', sunroof open, radio blasting....

then I drive down the road and see a hundred other trucks just like it

Buying a truck doesn't make you special.

[scott.str]

Hemi gas 2500 with the lifetime warranty. Covers your repairs if any and is a little less expensive then a diesel specially with any issues that you'd have to pay for. A 5k repair bill would be horrible. The gas 2500 would do it and some get 14mpg vs the 18 or so diesel your not the much off.

[Capt.Brown]

solid.

I always feel pretty special when I get in my paid-for F350 King Ranch loaded to the gills, replacement bumper, seat cooler chillin', sunroof open, radio blasting....

then I drive down the road and see a hundred other trucks just like it

Buying a truck doesn't make you special.

Bingo! Knowone cares what you drive, buy a very used diesel that you don’t have to make payments on.