How did you get your 1st Truck
#21
02-16-2008, 12:20 PM
Originally Posted by GMAN
Originally Posted by Dejanh
Originally Posted by GMAN
It is much better to save your money and pay cash for your equipment starting out. It takes a lot of pressure off when you don't have to be concerned about making monthly payments.
I went with new and i am never buying used. Even with this payment am still doing a bit better than a buddy of mine who has his payed off.. If i end up doing some things this year that am thinking about, i am again buying new, this time itll be Volvo. Well, it would be a good idea to have additional money set aside to make any repairs. It will still cost less than buying new or on time. You can save a lot of interest when you pay cash. If you can pay cash and put the equivalent truck payment aside, you could buy a really nice truck in two or three years and pay cash. If you put $1,600/month in a money market account or savings for 3 years you would have a nice amount of money saved. That is about $20,000/year plus any interest. You would have at least $60,000 to pay down plus selling your paid for truck would give you even more money to pay down on a new truck or buy an almost new truck and pay cash. 8) Since i claim 0 on my tax returns, i would pay alot more right there. My payment is deductible so is the interest associated with it. If i cannot claim anything ill just pay more to someone else. I rather pay it to the bank and know that am driving trouble free..
#22
02-16-2008, 02:02 PM
I paid $78,000 after leasing it for 11 months.
'06 T600 loaded. Not the best choice for a first truck, but its got warranty and goodies 8)
__________________
Mud, sweat, and gears
#26
02-16-2008, 03:59 PM
Originally Posted by BanditsCousin
'06 T600 loaded. Not the best choice for a first truck
Originally Posted by Double L
I'm sure if you had a 3406E or a 3406B your fuel milage would be atleast 7-8 mpg.
You both manage to surprise me... 
__________________
Pessimist,- is just well informed optimist!
#28
02-16-2008, 04:08 PM
Re: How did you get your 1st Truck
Originally Posted by fishmonger
Inquiring minds wanna know. Traditional financing? Cash? Lease Purchase?
How much did you pay for your 1st truck? Would you go about it differently if you had to do it again? Thanks in advance.
#29
02-16-2008, 04:18 PM
Solo, the truck is a great truck. The reason i said it wasn't the best choice was the year, hence the price tag associated with it. i wouldn't buy anything else and am quite happy with it.
BTW, it has a Cummins 500hp and a 3.70 rear end, so i spin to win if I need to do the speed limit in Wyoming 8)
__________________
Mud, sweat, and gears |
