Well my hestitation allowed someone to buy my dream truck. The only thing holding me back was the fact that I do not have to make payments right now. Perhaps latter down the road. I think I will put another 100k on this one and save up some cash for the next one.

 

Well your decision was made for you, so this truck doesn't matter anymore. But, in the future, remember that the vast majority of Americans are broke. By that I mean that they live paycheck to paycheck, and their networth is less then $100k. This is even for people that have close to six figure incomes. If you do what everyone else does, you will get what everyone else has, which is a great lifestyle while they are working, but a very lousy retirement trying to squeak by on social INSECURITY and working as greeters at Wally world, etc. An awful lot of working Americans confuse wants as needs.

I have never, ever made a car or truck payment in my life, and I never plan on having one. If I can't pay cash for it, I don't need it. There is nothing as freeing as being out of debt with no monthly payments anywhere in sight. And even though I could easily come up with the cash to buy a brand new 2007 PSD Super Duty, I never, ever would because new vehicles are lousy purchase from any measure of financial ROI. Note, they are NOT an investment, even though most buyers call them that to justify the purchase to themselves.

And the people that spend money like drunken sailors because "you only live life once" better hope they die young or have rich kids to support them in their not so "golden" years. Oh, I know, they are the ones that expect the government, tax payers and the "rich" to support them because they were too foolish to build their own nest eggs.

Read the book "The Millionaire Next Door" by Thomas Stanley and William Danko who have spent over 20 years researching the wealthy in America, which they defined as having a networth of over $1,000,000. What they found greatly surprised them. They found that the wealthy aren't who you expect. It isn't those that live in nice big houses and drive late model high dollar cars that are wealthy. These people look wealthy, and have high incomes, but most couldn't survive more than a few months if they lost their jobs unexpectedly.

Rather, they found that the vast majority of wealthy are first generation rich (contrary to popular opinion, they didn't inherit their money), they live in modest houses in ordinary neighborhoods and drive ordinary American made cars and trucks that they bought used and paid cash for. It's your money, but the cheapest vehicle you can possibly own is 99.9% of the time the one you already have that is paid for.

 

Wow. I think you are on the money. Part of my hesitation came from listening to Dave Ramsey. I thought "what would Dave Ramsey do?" The answer was obvious. I decided to wait and see how I felt about it. Now that the truck is gone, I am glad they (the new owners of my dream truck) have the payments and I don't.

 

Dave Ramsey rocks he is why I will have my house paid off at 31 yrs old

 

I am on my way to being out of debt. I had a huge hole to get out of. I hope to have all debts removed in a year or two. I will then be able to work on my house. I am paying extra. I will cut my loan time in half.

 

That is great!! Its a good day when all that is left is the house. I hope it is better when there is nothing.

 

Good for you! I was 34 when mine was paid off, but that is because I was 29 when I built it. It took me six years, instead of the five I originally planned because I paid $30k in cash to buy ownership in a business on the fifth year instead of paying off my house. But I paid off my house the following year, and sold my share of the business two years later for about four times what I originally paid, so the delay was a great investment.

I would have mentioned Dave Ramsey, but I didn't know if anyone else had ever heard of him. Fortunately, I never made the mistakes he made years ago, but I was brought up that what you earn isn't nearly as important as what you keep. How True! Stanley and Danko call that "having a great defense".

In other words, a good offense is earning a good living, but that is only 1/2 (or less of the equation) because at least in finance, a good or great defense is even more important because in America it isn't that hard to earn a decent living, but it is much harder for most people to keep from spending everything they earn plus a little bit more. That's why the national savings rate last year was negative, which, if it continues, doesn't bode well for our country's longterm financial viability!

 

i voted NO because i love obs trucks and could of bought a new one when i bought mine if i wanted but i bought what i bought for a reason.

now that being said

i had a ....well we will just call it the obs version snowmobile(2000 RMK). ran great, big motor, nice in the snow, but i just had to have this one pictured in my sig. 04 RMK with only 200 miles.

wife= at the whole idea.
did i do it anyway??? yes you only live once. i am now the happy camper...

some things to think about:


payments
trading a known good truck by you for the unknown...
plus i like having a truck that you dont see everyday. nothing against the nbs trucks. i just love the obs look.

plus the backseats get uncomfortable after a while of sleeping in it


all in all i say do what is in your heart.













buy a duramax i am
keeping the obs of course