Gas vs PSD
Postmaster
Joined: Apr 2006
Posts: 3,524
Likes: 2
From: CA Bay Area
Than I remember that just few years ago driving H2 to work was a symbol status. Now seems everybody parked those gas guzzlers on backyards.
Good part is, that you can buy perfectly good truck with 7.3 for 5 to 8 grands. I guess we should thank those V10 owners who bash the diesel
Posting Guru
Joined: Aug 2008
Posts: 2,313
Likes: 0
From: Sunny, Snowy, CO
I financed one vehicle back when I was 20 years old. I learned then to save the money and pay cash for ALL items that either get consumed or depreciate. Including F250's. Why pay the bank 6-7k over 5 years when I can keep that money and spend it as you want?
Postmaster
Joined: Apr 2006
Posts: 3,524
Likes: 2
From: CA Bay Area
TRUCK SUPPOSE TO MAKE YOU MONEY.
If you don't have the truck -you are not making the money you could.
Interest rate on car loans is way lower that the money you can make with the truck.
Senior User
Joined: Mar 2008
Posts: 342
Likes: 1
From: Maple Ridge, Canada
20% MT - 80% Loaded
A Vehical is a reflection of the owner.
V10 - quiet, strong, practical, does the job without fanfare.
PSD - LOUD, strong, does the job and needs to let you know it.
Over all for most people the gasser is the better choice.
V10 - quiet, strong, practical, does the job without fanfare.
PSD - LOUD, strong, does the job and needs to let you know it.
Over all for most people the gasser is the better choice.
Postmaster
Joined: Apr 2006
Posts: 3,524
Likes: 2
From: CA Bay Area
Here is V10
And here PSD
Posting Guru
Joined: Aug 2008
Posts: 2,313
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From: Sunny, Snowy, CO
Cargo Master
Joined: Jan 2005
Posts: 2,413
Likes: 11
Most don't agree with me, but if I made $56k last year. Its still better for me to finance the truck than going broke. That leaves me money to keep running. However I've only bought 1 brand new truck for myself. My wife's last 5 cars/truck has been new.
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From: Long Island USA
Not to mention, if you are in business for yourself, interest/depreciation or lease payments are tax deductible. That combined with low upfront costs make financing/leasing VERY attractive.
But somehow, I don't expect math to really mean much to some here.
But somehow, I don't expect math to really mean much to some here.
Posting Guru
Joined: Aug 2008
Posts: 2,313
Likes: 0
From: Sunny, Snowy, CO
The interest/depreciation can be amortized or taken in one year. My truck is being claimed as a business expense, and the entire purchase price will be deducted, though I won't get close to what I paid...duh. It doesn't save that much money going the other way, and it doesn't save much money doing it my way either, but every penny helps. Taxes suck. Period.
Posting Guru
Joined: Aug 2007
Posts: 1,317
Likes: 0
From: Auburn, Wa
I cant imagine Owning a Business that I needed a New truck at 56k...and Having to Finance it If I have a successful business I am paying Cash. Plain and simple, What happens to your truck, Business, and based off the fact you guys are Financing and Probably like your FICO score when You have no business or its slow.
Here is what happens...
Banks says give me back MY TRUCK... Because it is theirs...
you probably have a business loan if your financing a truck.... that gets taken.
what ever they cant get from that if your not incorporated they then come after your personal stuff...
The deduction you get for seems very small and insignificant.
Here is what happens...
Banks says give me back MY TRUCK... Because it is theirs...
you probably have a business loan if your financing a truck.... that gets taken.
what ever they cant get from that if your not incorporated they then come after your personal stuff...
The deduction you get for seems very small and insignificant.
Posting Guru
Joined: Aug 2008
Posts: 2,313
Likes: 0
From: Sunny, Snowy, CO
I cant imagine Owning a Business that I needed a New truck at 56k...and Having to Finance it If I have a successful business I am paying Cash. Plain and simple, What happens to your truck, Business, and based off the fact you guys are Financing and Probably like your FICO score when You have no business or its slow.
Here is what happens...
Banks says give me back MY TRUCK... Because it is theirs...
you probably have a business loan if your financing a truck.... that gets taken.
what ever they cant get from that if your not incorporated they then come after your personal stuff...
The deduction you get for seems very small and insignificant.
Here is what happens...
Banks says give me back MY TRUCK... Because it is theirs...
you probably have a business loan if your financing a truck.... that gets taken.
what ever they cant get from that if your not incorporated they then come after your personal stuff...
The deduction you get for seems very small and insignificant.
Lead Driver
Joined: Jan 2002
Posts: 8,640
Likes: 4,727
From: Itinerant
I cant imagine Owning a Business that I needed a New truck at 56k...and Having to Finance it If I have a successful business I am paying Cash. Plain and simple, What happens to your truck, Business, and based off the fact you guys are Financing and Probably like your FICO score when You have no business or its slow.
Here is what happens...
Banks says give me back MY TRUCK... Because it is theirs...
you probably have a business loan if your financing a truck.... that gets taken.
what ever they cant get from that if your not incorporated they then come after your personal stuff...
The deduction you get for seems very small and insignificant.
Here is what happens...
Banks says give me back MY TRUCK... Because it is theirs...
you probably have a business loan if your financing a truck.... that gets taken.
what ever they cant get from that if your not incorporated they then come after your personal stuff...
The deduction you get for seems very small and insignificant.
Posting Guru
Joined: Aug 2007
Posts: 1,317
Likes: 0
From: Auburn, Wa
Never have I seen a vehicle get repo'd for being paid off.
Elder User
Joined: Dec 2009
Posts: 882
Likes: 0
From: Ohio
Very true. When it comes to business there are only two scenarios really. You are either growing, or you are dying. Being "status quo" is just being stagnant and a slow death. It's a rare business that can generate enough cash to fuel its growth. Business and finance go hand in hand. Generally there are simply too many things that need done at any given time. It can be done but those are rare times and they never last.
In the mid 90's this economy was booming so hard it was difficult to imagine it being able to sustain that kind of growth. In the end it couldn't, which I expected, but while it was I generated enormous amounts of money. Rolling in it to the tune of buying a new furnace and paying $400,000 CASH for it. Buying new truck/s and paying cash for those at $35K +.
Those were extraordinary times. To say that you are going to run a business and say you won't buy anything until you can pay cash is being....business naive at best.