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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: 8,404
Atoler
14 point
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14 point
Joined: Feb 2013
Posts: 8,404
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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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