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Key:
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Re: truck pricing
[Re: timbercruiser]
#2856150
07/20/19 12:53 PM
07/20/19 12:53 PM
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Joined: Dec 2009
Posts: 5,517 Land of the free because of th...
mike35549
12 point
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12 point
Joined: Dec 2009
Posts: 5,517
Land of the free because of th...
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I told him last night he has got to get his credit number up. He is going to get a daily use credit card and pay it every month and I suggested finding a good, cheaper truck, maybe $20,000 or so and finance it, then after about a year his credit number should be higher and he can trade it and get the truck he wants. He doesn't want to co-sign. That is sound advice if he will take it. Everybody needs a good credit score and the only way you can get one if by borrowing some money and making payments. Not sure how people that pay cash for everything except there house gets a loan to buy the house.
If you're gonna be stupid you better be tough.
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Re: truck pricing
[Re: jrs89]
#2856153
07/20/19 12:56 PM
07/20/19 12:56 PM
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Joined: Dec 2009
Posts: 5,517 Land of the free because of th...
mike35549
12 point
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12 point
Joined: Dec 2009
Posts: 5,517
Land of the free because of th...
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Weekly thread on telling someone how to spend their own money. Love my new truck! May even trade it for a f250 with a 7.3 next year!! It’ll be Leveled on 37s!! That is what I want minus the 37s, just want to wait 2-3 years and let them get the bugs worked out of it.
If you're gonna be stupid you better be tough.
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Re: truck pricing
[Re: jrs89]
#2856154
07/20/19 12:56 PM
07/20/19 12:56 PM
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Joined: Apr 2017
Posts: 15,347 Ourtown, AL
BCLC
Old Mossy Horns
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Old Mossy Horns
Joined: Apr 2017
Posts: 15,347
Ourtown, AL
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Weekly thread on telling someone how to spend their own money. Love my new truck! May even trade it for a f250 with a 7.3 next year!! It’ll be Leveled on 37s!! 👏🏽👏🏽👏🏽.....that’s right
We’re not dead. We just smell that way. Dayum. - AC870
Yessir! I’m always gonna shoot what makes me happy and I want everyone else to do the same! If you shoot one be proud of it and don’t worry what anyone else thinks. - SJ22
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Re: truck pricing
[Re: mike35549]
#2856156
07/20/19 01:00 PM
07/20/19 01:00 PM
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Joined: May 2015
Posts: 4,403 Calhoun County
jrs89
10 point
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10 point
Joined: May 2015
Posts: 4,403
Calhoun County
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Weekly thread on telling someone how to spend their own money. Love my new truck! May even trade it for a f250 with a 7.3 next year!! It’ll be Leveled on 37s!! That is what I want minus the 37s, just want to wait 2-3 years and let them get the bugs worked out of it. I’ll prolly wait a lil while too.
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Re: truck pricing
[Re: mike35549]
#2856159
07/20/19 01:03 PM
07/20/19 01:03 PM
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Joined: Nov 2003
Posts: 6,713 Baldwin County
mark
14 point
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14 point
Joined: Nov 2003
Posts: 6,713
Baldwin County
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I told him last night he has got to get his credit number up. He is going to get a daily use credit card and pay it every month and I suggested finding a good, cheaper truck, maybe $20,000 or so and finance it, then after about a year his credit number should be higher and he can trade it and get the truck he wants. He doesn't want to co-sign. That is sound advice if he will take it. Everybody needs a good credit score and the only way you can get one if by borrowing some money and making payments. Not sure how people that pay cash for everything except there house gets a loan to buy the house. Haven't had a credit card in 10 or 12 years. Just bought a house a month ago. Credit score? I don't even know what it was but it wasn't an issue.
Sig Sauer, to hell and back reliable.
Whatever suits you just tickles me plum to death.
Can I refill your eggnog for you? Get you something to eat? Drive you out to the middle of nowhere and leave you for dead?
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Re: truck pricing
[Re: Snuffy]
#2856173
07/20/19 01:18 PM
07/20/19 01:18 PM
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Joined: Feb 2013
Posts: 8,396
Atoler
14 point
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14 point
Joined: Feb 2013
Posts: 8,396
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Blah blah blah. I’ll keep my money in the market and make 8 percent. I financed my truck for 2.9 percent. I buy new and drive them till they die. Stupid to use hard saved dollars when intrest is cheap. Y’all pay to much attention to Dave Ramsey.🤦♂️ Interest is of no concern to me, it’s depreciation. When you start adding that $10kish a year of depreciation in, with interest and operation costs, it will make you sick. Just some general numbers. But a truck for $50k, drive it for ten years, sell it for $5k. $2000yr in maintainence and repairs. $45k in depreciation, $5k interest, insurance cost of $1200/yr, etc. that adds up to $82k to drive that truck for 10 years. Comparing that to shopping for a good deal on a couple of used trucks during that time frame, you knock out interest, some of your ins. Cost, a lot of your depreciation, and probably have a slightly higher maintenance and repair bill. Cost of operation is about a $40k swing over that same time frame. That’s a lot of money you could have been earning your 8% interest on.
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Re: truck pricing
[Re: timbercruiser]
#2856204
07/20/19 02:05 PM
07/20/19 02:05 PM
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Joined: Jun 2013
Posts: 52,200 Gee's Bend/At The Hog Pen
James
Freak of Nature
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Freak of Nature
Joined: Jun 2013
Posts: 52,200
Gee's Bend/At The Hog Pen
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They can have those Turbo 6 cylinders.
How many people am i willing to sacrifice for freedom? Everyone. All of them...
Do not regret growing older, it's a privilege denied to many!
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Re: truck pricing
[Re: Atoler]
#2856207
07/20/19 02:06 PM
07/20/19 02:06 PM
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Joined: Nov 2008
Posts: 4,447 Monroe Co.,Al
gobblebox
10 point
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10 point
Joined: Nov 2008
Posts: 4,447
Monroe Co.,Al
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Blah blah blah. I’ll keep my money in the market and make 8 percent. I financed my truck for 2.9 percent. I buy new and drive them till they die. Stupid to use hard saved dollars when intrest is cheap. Y’all pay to much attention to Dave Ramsey.🤦♂️ Interest is of no concern to me, it’s depreciation. When you start adding that $10kish a year of depreciation in, with interest and operation costs, it will make you sick. Just some general numbers. But a truck for $50k, drive it for ten years, sell it for $5k. $2000yr in maintainence and repairs. $45k in depreciation, $5k interest, insurance cost of $1200/yr, etc. that adds up to $82k to drive that truck for 10 years. Comparing that to shopping for a good deal on a couple of used trucks during that time frame, you knock out interest, some of your ins. Cost, a lot of your depreciation, and probably have a slightly higher maintenance and repair bill. Cost of operation is about a $40k swing over that same time frame. That’s a lot of money you could have been earning your 8% interest on. What kind of new vehicle needs $2k a year in maintenance cost and repairs? You’d have to beat that truck up pretty bad and put a half a million miles on it for it to only be worth 5k at 10 years old,most trucks that age are selling for $10-20k right now if they’re in good shape
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Re: truck pricing
[Re: timbercruiser]
#2856220
07/20/19 02:24 PM
07/20/19 02:24 PM
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Joined: Jun 2017
Posts: 6,325 Alabama
Jakethesnake
The Flippin’ Idiot That Could Care Less
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The Flippin’ Idiot That Could Care Less
Joined: Jun 2017
Posts: 6,325
Alabama
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U can get a $200 secure credit card to build your credit. I went from a 540 to a 740 in 1.5yrs and used it 20 bucks at a time if at all. You dont have to borrow anything. That $200 bucks was my money i put into the account. No fees or anything.
Then bought a house at a very good rate.
Last edited by Jakethesnake; 07/20/19 02:25 PM.
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Re: truck pricing
[Re: Rebelman]
#2857165
07/21/19 02:20 PM
07/21/19 02:20 PM
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Joined: Jan 2018
Posts: 4,642 Michigan
Sasquatch Lives
10 point
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10 point
Joined: Jan 2018
Posts: 4,642
Michigan
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Interest on a $40k auto @3% is only $50/month. That hardly is going to make anyone a millionaire.
If you want to be a millionaire, you need to make a million dollars more than you spend. However you choose to do that is up to you. I disagree. That is nearly $2500 over the course of the loan that you lost. Plus a lot more than that in depreciation. Probable $20,000 on a four year loan. So right there you are down $22,500 in four years. Very significant $. Plus factor in around 8% interest you coulda got on that money if you had invested it instead. You get rich a little at a time.
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Re: truck pricing
[Re: Sasquatch Lives]
#2857170
07/21/19 02:26 PM
07/21/19 02:26 PM
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Joined: Jun 2015
Posts: 14,020 Some Marriott/Auburn
AU7MM08
Booner
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Booner
Joined: Jun 2015
Posts: 14,020
Some Marriott/Auburn
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Interest on a $40k auto @3% is only $50/month. That hardly is going to make anyone a millionaire.
If you want to be a millionaire, you need to make a million dollars more than you spend. However you choose to do that is up to you. I disagree. That is nearly $2500 over the course of the loan that you lost. Plus a lot more than that in depreciation. Probable $20,000 on a four year loan. So right there you are down $22,500 in four years. Very significant $. Plus factor in around 8% interest you coulda got on that money if you had invested it instead. You get rich a little at a time. And those numbers are WAY more profound for some that is 26 years old.
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Re: truck pricing
[Re: timbercruiser]
#2857197
07/21/19 03:32 PM
07/21/19 03:32 PM
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Joined: Jun 2008
Posts: 2,336 North Alabama
robinhedd
8 point
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8 point
Joined: Jun 2008
Posts: 2,336
North Alabama
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A guy that I work with bought a $70K truck a couple of weeks ago. I sold my truck, and I’m looking for nice used truck. The guy told me that I should just go buy myself a new one, he (said (and I quote) “You can’t take that money with you, your life might get cut short and you could die at a young age”. I sat there for a minute, and I said “You’re exactly right, but the thing about it is they can’t take those trucks with them either!”
It’s just all in what you like to spend your money on, we only go around once. It’s obvious that buying new trucks is his thing, and what makes him happy. It’s not my thing, and I don’t think I’d get any enjoyment out of it.
To the OP, I hope your grandson finds and buys him a really nice truck at a great deal. Good luck to him in his search.
Robinhedd
"Guess I just got too much Mathews in me!"
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Re: truck pricing
[Re: Sasquatch Lives]
#2857250
07/21/19 04:53 PM
07/21/19 04:53 PM
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Joined: Oct 2003
Posts: 25,687 South Alabama
Rebelman
Freak of Nature
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Freak of Nature
Joined: Oct 2003
Posts: 25,687
South Alabama
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Interest on a $40k auto @3% is only $50/month. That hardly is going to make anyone a millionaire.
If you want to be a millionaire, you need to make a million dollars more than you spend. However you choose to do that is up to you. I disagree. That is nearly $2500 over the course of the loan that you lost. Plus a lot more than that in depreciation. Probable $20,000 on a four year loan. So right there you are down $22,500 in four years. Very significant $. Plus factor in around 8% interest you coulda got on that money if you had invested it instead. You get rich a little at a time. We are still talking about really insignificant money for a millionaire.
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