How do you pay for your truck?

[Iehooligan11b]

I bought a older truck and paid cash

[Mike D]

Originally Posted by CTR0022

I put as little down as I can and get the longest term loan I can get on the lowest interest rate I can find.

I then pay the loan off early. For example my last truck I paid it off in two years and had a 66 month loan. Every 3-4 months I make a payment of several thousand dollars, normally $3-5k till its paid for.

And I dont buy new, find a good used truck with low miles, something in the 3-4 year old range. And drive it for 10+ years.

Mostly pay cash. In the event I do finance I do the same as above.


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[TxDispatcher]

Originally Posted by HoustonHunter94

Traded my 2007 F150 KR with 110K on my 2013 KR in 2016. Paid it off in a year, been driving it since. 74K miles. I will never own a new truck again at the prices they are. Will always buy used and plan on driving what I have for a long time. The days of looking cool in brand new truck and impressing other people are long gone for me. It's transportation, nothing else.

Originally Posted by piercebronkite

Heavy down payment, 0% interest, be smart with your money. Can I afford a 70-80k truck? Yes I can but chose not to and to live well under my means (which somehow society has forgotten). However, Im not keeping up with the Joneses. My truck is a utility.

My previous truck I had for 12 years and rode it to the ground.

Yep...my truck is a tool, to get me from point A to point B, and haul/pull what I need from point to point. I try to get 200k+ miles before even worrying about buying something else, and thats usually every decade or so. And I get a plain Jane truck, without all the bells and whistles, I have no desire for sunroof, power seats, seat warmers, leather, etc

Now my wife on the other hand, she gets what she wants this time around she wanted a Jeep. We spent waaaaaay too much on a lift, after market wheels/tires, accessories, etc but she is the much better half of our marriage, and I want her to have what she desires

[Mike D]

Originally Posted by jer_james

Why would you toss a chunk of change at a vehicle if you could save your cash on hand and finance at .9%?

You could save that chunk, and throw it into something that actually makes you money.

Now if you can’t get those insane rates, by all means.

Speaking for myself I am risk averse. Anything that has a lein on it is risk.


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[Abu_dude]

I don't know what some of yall do for a living, but are you hiring?

I would have to say that on average, 8 out of 10 blue collar families cant drop cash on the table or afford a payment on a sub 4 yr note. Here's what I do, I get the most vehicle I can get for the least amount of money possible. Its that simple.

[Edward F]

Originally Posted by AntlerCollector

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.

Wow someone actually gets it.

[curtintex]

Originally Posted by AntlerCollector

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.

100%! Negotiate a price. Then negotiate terms. It’s absolutely not true that “make up” for low financing is baked into the purchase price. Now maybe if you go in there and the first thing you say is “I want 0% financing” or “I want my payment to be $688”. But that’s just dumb.


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[Fordnandez]

Originally Posted by jer_james

Why would you toss a chunk of change at a vehicle if you could save your cash on hand and finance at .9%?

You could save that chunk, and throw it into something that actually makes you money.

Now if you can’t get those insane rates, by all means.

Agreed, that is cheap money.

[TeamAmerica]

Do whatever works for you and makes you happy. I've never had a car payment. I drive a 2008 model.

My payment goes to my land. My land brings me much more happiness than a shiny new truck!

[piercebronkite]

Originally Posted by sneaky freak

If its financed you really cant afford it anyway

Thats a double edge sword when it comes to great credit.

[GA Bowhunter]

I stroke a check.

[kingranch]

0 percent only and make payments...
Same as cash... otherwise they bend u over

[Black Ice]

Originally Posted by TB80

The recent thread on truck prices got me thinking, which is dangerous. But how do you pay for your truck? Cash? Loan? Lease? If you pay through a loan, how the heck do you afford those large monthly payments?

My 2017 F250 got paid off last year and the note was around $650 for 60 months but I paid over every month on it.

I basically go into it with wanting to keep my note less than $650 and use trade in and cash to get my note where I want it for 5 years.

For example if I buy a 80k truck and they give me 45k for mine I put that down plus 15 to 20k and finance the rest.


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[gingib]

For the new truck guys, there is no such thing as a good deal.

Funny to listen to some of this

[Throwin Darts]

Originally Posted by gingib

For the new truck guys, there is no such thing as a good deal.

Funny to listen to some of this

Don’t you know everyone single guy on tbh made got a steal on every truck and house purchase they’ve ever made

[dustoffer]

Cash--and I don't buy new and I don't buy a 3/4 ton with 4WD and Lift Kit to drive back and forth to work--

[skinsfan]

The question is, who would admit to buying a $75,000 truck and financing it over 84 months when they probably couldn’t afford it to begin with LOL

[curtintex]

Originally Posted by gingib

For the new truck guys, there is no such thing as a good deal.

Funny to listen to some of this

Pretty accurate. Buying anything that’s worth less than you paid for it, two hours after paying for it, is never a good deal. So then you have to consider the difference as a form of entertainment I guess. Some people are entertained by new vehicles.


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[TexaswBOWhunter]

Company pays for the ride, as mentioned above, it's a tool.

[LivinADream]

I have a number in my head I'm willing to spend, an interest rate I'm willing to pay, and a number of months I'm willing to pay it. Then I do some online shopping to know what my expectations should be in a vehicle. Then I generally do lots of haggling over weeks to get what I'm after. I never buy new, and drive for years. My current truck is 13 years old with 275k, hoping to get 500k out of it. I bought it 2 yrs old for 32k, had the window sticker in glovebox with a 52k tag on it. It's been pd off for 9 years.

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[Traildust]

Originally Posted by Throwin Darts

Don’t you know everyone single guy on tbh made got a steal on every truck and house purchase they’ve ever made

Except for Elk hunt boots!

[Rick]

Originally Posted by gingib

For the new truck guys, there is no such thing as a good deal.

Funny to listen to some of this

I have thought that way all my life and have always bought used. Until my last truck, the prices of low mileage used trucks is insane. It was just a few thousand more to get a new one, and have to admit, I enjoyed getting a new one.

[Mudslinger]

My payments are not bad and the only payment I have, no mortgage or anything except for utilities. i stayed under $50,000 for this new truck and it has the bells and whistles I wanted and more than I need.

[Sleepy]

It’s all in the equity of your current vehicle. If you start off small, pay it off, trade it in a few years later for a little upgrade, driver it for a few years, trade it in for an upgrade, eventually, you have enough equity to buy a 50-60k truck and not break the bank. My Tundra currently has about $33K in equity. I could go trade it in for a brand new one and walk out the door only owing about $15K. If someone on the road sees me in my new Tundra with new tags, the general consensus is “I wonder what kind of payment that guy has”. When really, it’s probably less than theirs lol.

[sharkhunter]

I’ve put 300k on every truck I’ve ever owned so I squeeze all I can out of them. My wife keeps saying let’s get you a new truck it’s time ! I say “she’s still got some life left maybe next year!”

[the-butcher]

$6 at a time at the local drive thru car wash. Keep knocking the dirt off this classic of mine and she feels new again just long enough to scratch that new truck itch.

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[175gr7.62]

Negotiate price. The method of payment should have no bearing on the price.

You guys that pay cash I just don’t understand. Assume you pay $50k cash for a truck and for the sake of argument you were able to buy it for $2k cheaper that way.

Even at a meager rate of 4% on $50k in 5 years you’re looking at almost $61k if you left your cash in your investment vehicle.

So you saved $2k up front and lost $11k over 5 years. You’re $9k in the red. That doesn’t make sense.

I’ll borrow every penny I can at 0-1%. If crap goes down I still have my cash (that I’ve been making money on) to pay it off.

It’s math fellas. The other benefit is if crap really gets bad I have a vehicle that might get repossessed but I still have my $50k in the bank. Your’s can’t get repo’d but you don’t have $50k in the bank. I can buy a $2500 POS to get me around. I’m still ahead.

....always use someone else’s money if your’s make more.


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[Anteloper]

Originally Posted by 175gr7.62

Negotiate price. The method of payment should have no bearing on the price.

You guys that pay cash I just don’t understand. Assume you pay $50k cash for a truck and for the sake of argument you were able to buy it for $2k cheaper that way.

Even at a meager rate of 4% on $50k in 5 years you’re looking at almost $61k if you left your cash in your investment vehicle.

So you saved $2k up front and lost $11k over 5 years. You’re $9k in the red. That doesn’t make sense.

I’ll borrow every penny I can at 0-1%. If crap goes down I still have my cash (that I’ve been making money on) to pay it off.

It’s math fellas.


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If youre paying cash youre already well invested.

[175gr7.62]

Originally Posted by Anteloper

If youre paying cash youre already well invested.

You still ****** away money.


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[Mike D]

Originally Posted by 175gr7.62

Negotiate price. The method of payment should have no bearing on the price.

You guys that pay cash I just don’t understand. Assume you pay $50k cash for a truck and for the sake of argument you were able to buy it for $2k cheaper that way.

Even at a meager rate of 4% on $50k in 5 years you’re looking at almost $61k if you left your cash in your investment vehicle.

So you saved $2k up front and lost $11k over 5 years. You’re $9k in the red. That doesn’t make sense.

I’ll borrow every penny I can at 0-1%. If crap goes down I still have my cash (that I’ve been making money on) to pay it off.

It’s math fellas. The other benefit is if crap really gets bad I have a vehicle that might get repossessed but I still have my $50k in the bank. Your’s can’t get repo’d but you don’t have $50k in the bank. I can buy a $2500 POS to get me around. I’m still ahead.

....always use someone else’s money if your’s make more.


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That’s all good of your “cash” is liquid. If it’s tied up in investments or other vehicles, it’s not truly liquid.

I’ll have plenty of money to retire on and leave a legacy with so I avoid debt at every opportunity. Ain’t nobody taking anything from me if I own it.


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[ctom87]

At 1.24% I will gladly pay $900 over the course of 5 years to keep the amount my truck cost in liquid.

I plan on driving it 15 years minimum barring something catastrophic.

I bought it "used" at 7,500 mi. The dealership made an error in the online price and then took an addition $1,500 off before they caught the error. But they kept their word after we had a handshake. (Meador Dodge in FW). It was a former dealership loaner.

This saved me $5,000 and got a very slightly used Ram Lone Star 5.7L with everything I wanted and then some at @ 27,500. I financed all of it due to the interest I would owe. Payment is around $550 a month and will be up in 10 months.

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[N.DaWoods]

We always buy used. Trucks are mostly status symbols, since I don't really care what anyone sees me drive, this works well for my family.

[RJH1]

I drive a94 chevy with 300,000 plus miles and my "nice" truck is an 02 Ford with 160,000+ miles. To hell with truck payments

[Edward F]

Originally Posted by gingib

For the new truck guys, there is no such thing as a good deal.

Funny to listen to some of this

Originally Posted by Throwin Darts

Don’t you know everyone single guy on tbh made got a steal on every truck and house purchase they’ve ever made

These are words of people who don’t know how to negotiate. Let me guess “ you get the a plan from Ford “.

[JTeLarkin08]

me and the wife do have car payments but one is zero interest through a family member and one is 2.9%.. Both loans are almost paid off and we will be driving our cars for many years to come.. we bought my wifes new but mine used.. In my opinion if you cant make a 50% down payment there is zero reason to buy a new car these days..

[Throwin Darts]

Originally Posted by Edward F

These are words of people who don’t know how to negotiate. Let me guess “ you get the a plan from Ford “.

I negotiate for a living. Quite well actually.


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[panhandlehunter]

My truck is a 2010, been paid off since 2014. I have continued paying the truck note to myself since it has been paid off, covers repairs, maintenance, pays for the lease and a vacation usually. I shopped new trucks a while back and decided against it. I’ll just fix mine when it breaks. I have a commuter vehicle and a Jeep when I get tired of the commuter. I keep the wife in a new vehicle, but she’s a business owner so we can cover the cost. Truck prices are beyond ridiculous. You never come out ahead no matter what kind of deal you get.

[Edward F]

Originally Posted by Throwin Darts

I negotiate for a living. Quite well actually.


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Not for a new truck I’m assuming.

[ThisLadyHunts]

Originally Posted by ClayW

This

Ditto this.

[southtx]

Buy here pay here used car lots

[Anteloper]

Originally Posted by southtx

Buy here pay here used car lots

sorry

[Black Ice]

Originally Posted by 175gr7.62

Negotiate price. The method of payment should have no bearing on the price.

You guys that pay cash I just don’t understand. Assume you pay $50k cash for a truck and for the sake of argument you were able to buy it for $2k cheaper that way.

Even at a meager rate of 4% on $50k in 5 years you’re looking at almost $61k if you left your cash in your investment vehicle.

So you saved $2k up front and lost $11k over 5 years. You’re $9k in the red. That doesn’t make sense.

I’ll borrow every penny I can at 0-1%. If crap goes down I still have my cash (that I’ve been making money on) to pay it off.

It’s math fellas. The other benefit is if crap really gets bad I have a vehicle that might get repossessed but I still have my $50k in the bank. Your’s can’t get repo’d but you don’t have $50k in the bank. I can buy a $2500 POS to get me around. I’m still ahead.

....always use someone else’s money if your’s make more.


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You’re probably right I just hate having a bunch of money going out monthly.

I’d like to buy a new Can Am 1000 and Can Am 4 wheeler once I build my shop and I don’t want to finance any of it. Not financing my pool either. I’d rather pay for my shop, pool, SXS, 4 wheeler all cash so I sleep better at night. I still keep a couple years of bills in my checking and savings between my wife and my accounts.


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[Throwin Darts]

Originally Posted by Edward F

Not for a new truck I’m assuming.

I could negotiate your wife right out of her britches while selling ice to an Eskimo while getting $5k off the Ford plan while selling MAGA hats to a Democrat.

[Edward F]

Originally Posted by Throwin Darts

I could negotiate your wife right out of her britches while selling ice to an Eskimo while getting $5k off the Ford plan while selling MAGA hats to a Democrat.

Oh wow. You seem pretty confident in your negotiation skills. Let’s see you put your money where your mouth is and see how much you can get off a new truck.

I’m worried about the big shot banker from Aledo TX. 🤣

[Texasredneck]

Originally Posted by TB80

The recent thread on truck prices got me thinking, which is dangerous. But how do you pay for your truck? Cash? Loan? Lease? If you pay through a loan, how the heck do you afford those large monthly payments?

I pay about $414 a month for mine, I was a first time buyer and went through my bank .
And got approved for a loan. Now I have about 6 months left and it will be on mine.
So maybe if you're on good terms with your bank maybe go and chat with them.

[Button]

I buy it with money then drive it until the beach eats it to death. Tow it to the junk yard and buy another.

[rvd]

Originally Posted by Throwin Darts

I could negotiate your wife right out of her britches while selling ice to an Eskimo while getting $5k off the Ford plan while selling MAGA hats to a Democrat.

Lol, put down the bottle

[Atfulldraw]

Usually buy last year's model that's still sitting on the lot, and I'm trading in something they really want and can sell.

I also negotiate for a living, and buy when the market is good for a buyer.

Right now, I'm unloading my extra vehicles because of the used car market and not buying a new one.

[trophy8]

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!

[Throwin Darts]

Originally Posted by Edward F

Oh wow. You seem pretty confident in your negotiation skills. Let’s see you put your money where your mouth is and see how much you can get off a new truck.

I’m worried about the big shot banker from Aledo TX.
Attachment 1042779

The fact that you googled my town, looked up my profession and would challenge someone to a truck buying contest is what should have you worried. Ha ha ha. Weird.