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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: 4,451 Monroe Co.,Al
gobblebox
10 point
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10 point
Joined: Nov 2008
Posts: 4,451
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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