Younger owners?
Junior User
Joined: Feb 2005
Posts: 59
Likes: 0
From: Houston, TX
Originally Posted by Ed Willmott
Not to sound like anybodies dad, but has it ever been discussed that paying cash for a depreciating asset is a horrible investment?
Don't get me wrong, I haven't had a personal car payment since 1987, but value of $40K invested conservatively for 10yrs should yield more than the total cost of payments.
But I might be crazy....
Don't get me wrong, I haven't had a personal car payment since 1987, but value of $40K invested conservatively for 10yrs should yield more than the total cost of payments.
But I might be crazy....
Elder User
Joined: Jun 2004
Posts: 660
Likes: 0
From: near Daytona
Most financial advisors will say that if your vehicle is worth more than half your yearly income, you have too much vehicle. (I guess I should sell mine) I dont think there is a good way to finance a vehicle, except to pay it off quickly as possible to avoid any extra interest, then you can put your money in mutual funds.
New User
Joined: Feb 2005
Posts: 17
Likes: 0
Originally Posted by Ed Willmott
Not to sound like anybodies dad, but has it ever been discussed that paying cash for a depreciating asset is a horrible investment?
Don't get me wrong, I haven't had a personal car payment since 1987, but value of $40K invested conservatively for 10yrs should yield more than the total cost of payments.
But I might be crazy....
Don't get me wrong, I haven't had a personal car payment since 1987, but value of $40K invested conservatively for 10yrs should yield more than the total cost of payments.
But I might be crazy....
I have found that most who pay cash for automobiles have developed a certain discipline with money in general that puts them miles ahead of the typical american consumer, as a result they are in fine financial condition and playing the "spread" on things like auto loans and low-rate credit cards isn't worth the extra time spent.
New User
Joined: Mar 2005
Posts: 3
Likes: 0
From: Idaho
A bit late to the thread and new to the board, but I was 21 when I bought my 2000 F-250 Crewcab 4X4 brand new. Still have her with approx 75,000 miles on it. When I decide to get a new truck, it'll just be a newer version of the same.
Senior User
Joined: Jan 2005
Posts: 289
Likes: 1
Originally Posted by Jossdoit
Who has a 10yr loan on a truck? I agree that you can play the market and get better than the % of your loan if you play your cards right. What do you think is the best way to pay for the truck? Not to get too off topic but I think it would be better to save $ and invest between 20 and 30 and then you can live very well when you retire. But you gotta have fun while you're young!
I invested heavily (max. contribution with employer matching) in my 401k between 21 and 30. I even made a little money in the market, mostly by accident. It is a great start. But that is all it is, a START!
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Lead Driver
Joined: Aug 2004
Posts: 5,326
Likes: 18
From: Gilbert
I'll chime in and say I'm 29 and have had my '00 for 5 years now. Bought it brand new when I was 24. I go through trucks like there's no tomorrow, well I used to at least. Now when I get bored with my truck, I just do something different to it to make it better. Not sure if that's a good tactic (financially) or not but I think my truck is pretty bad @$$. I'm biased of course....
New User
Joined: Mar 2005
Posts: 5
Likes: 0
Im 19 and I just bought a 2002 Lariat CrewCab 4x4 with a V10. I had just about given up on finding one i could afford after seaching the internet and all the car dealers within 150 miles of tulsa, then the day before i was going to give up and lift my tahoe I found it at the Land rover dealer. Best truck ever
