You can blame the truck prices on people who thought they were smart when they financed their $60000 manhood compensation on wheels fiasco. People are running up the mileage on these things before paying them off. The prices are reflection of what they still owe on a vehicle that has depreciated in value to 25% of its MSRP. Too much ego and not a bit of understanding of the concepts of compound interest or depreciation. The only smart way to buy a vehicle is to pay cash.
Fact. And if you do it every two or three years, it ends up being a pretty reasonable way to stay in a new truck. I just traded up three years for a new one and it was only $9,200 difference.
So next time you buy a vehicle, pay cash for whatever you can afford, instead of putting the money into a monthly car payment, put the money that would go to a car payment into a money market account that has a decent interest rate. After a year, sell the truck you paid cash for and take that money plus what is in savings to buy a newer, nicer paid-for-with-cash truck. Example below. $10000 cash on hand, buy a $10000 dollar truck and put $400/month into savings account with a 5% interest rate. After 1 year, the saving account will have approximately $5000 in it with interest payments to you. Sell the $10K truck for around $9K, go buy a $14K truck for cash. Next year, repeat, $400/month in savings, sell $14K truck for $13K go pay cash for $18K truck. Repeat until you have paid cash for the truck of your dreams. In this scenario, you can pay cash for a brand new truck in roughly 10 years, without ever making a car payment and have the interest work for you in a savings account instead of against you on a car payment. Most guys could probably pay cash for a brand new truck in 10 years or less, all the while never being stuck with an older beat up vehicle or a car payment. Of course, this all depends on the person having the maturity and discipline to save their money instead of blowing it on stupid crap.
My buddy does that and it seems to be an excellent way to do it. I'm getting my butt kicked financially lately so I might be able to afford to buy a 2k dollar truck in cash. Lol!! Sent from my SM-G950U using Tapatalk
I like to wait until late Fall of a year when there is a body style change and take the incentives on the current models that they are trying to get rid of. I just bought a 2018 GMC that was completely loaded up and they sold it to me for $17,000 off sticker price. My 2015 had 38,000 miles on it and was just out of warranty, so for me it seemed like a no brainer. It's that first 40 or 50K that is the hurdle. Once in a new one, its really not expensive to stay there, 3 to 4k per year to have something under warranty.
Milwaukee......Third police officer killed in the line of duty in the last 8 months!!!!! Sent from my iPhone using Bowhunting.com Forums
....uhhh, anybody want to buy a truck? 2015, 3.5 EcoBoost 42k miles; max tow 3"/1.5" suspension lift over $3000 in wheels and tires (35" BGF TK A/O tires have 20k) $2200 ARE cap/Thule bars brand new front brakes/rotors and entirely new front end from wheel hub to wheel hub (Ford TSB) runs/drives great - no accidents (couple minor scratches) Raptor front grille ...oh, yeah, bumper to bumper Ford 8yr/80k warranty (good until 2025 or 80k) $26k
Rant. Every site has that ONE dink that perhaps was relevant at one time. But over time, thier narsistic behavior gets the best of them. They SO want to stay on top but are truly so absorbed in themselves they self destruct. And they post those me' mes while calling others " childlike" Won't mention names so K- g bye..
My silverado is a company vehicle I don't even pay for carwashes, that is how you do it, new every 3 years.
