How upside down are you???
Laughing Gas
Joined: Jun 2009
Posts: 903
Likes: 0
From: So Cal
My 99 7.3 is paid for, and I can't imagine ever getting rid of it. Granted, cleaning up the steering gear is setting me back a bit - but doing it myself is still saving me quite a bit.
If I had to replace it, I'd go find another one just like it, maybe a 4x4. I can't see paying a bunch of extra money for a new truck with all the emissions mess to have to deal with.
If I had to replace it, I'd go find another one just like it, maybe a 4x4. I can't see paying a bunch of extra money for a new truck with all the emissions mess to have to deal with.
Fleet Mechanic
Joined: Feb 2007
Posts: 1,320
Likes: 13
From: Mid Atlantic
My 99 7.3 is paid for, and I can't imagine ever getting rid of it. Granted, cleaning up the steering gear is setting me back a bit - but doing it myself is still saving me quite a bit.
If I had to replace it, I'd go find another one just like it, maybe a 4x4. I can't see paying a bunch of extra money for a new truck with all the emissions mess to have to deal with.
If I had to replace it, I'd go find another one just like it, maybe a 4x4. I can't see paying a bunch of extra money for a new truck with all the emissions mess to have to deal with.
It's nice to have that option
Senior User
Joined: Feb 2009
Posts: 320
Likes: 2
From: Stacy, MN
Book values are just a starting point. No vehicle is worth more than what someone else is willing to pay regardless of what the "book" says. People who owe more then something is worth are really only upside down if you go to sell it. If you can make the payments and are keeping the truck, you really are not in any trouble. My neighbor just bought a '06 Lariat crew cab for $23,500 and it has 27,000 miles on it. Didn't really matter what the "book" said it was worth. He was only willing to pay a certain amount.
Elder User
Joined: Mar 2007
Posts: 694
Likes: 0
From: SE WI
You and I seem to be in the minority here. I have financed 2 new trucks in the past when I was young and dumb, but now the only thing I will get a loan for is a house.
Cargo Master
Joined: Apr 2007
Posts: 2,659
Likes: 2
If you don't have any credit activity then you probably won't get a good interest rate on the home loan and that will cost you big time. America has an unhealthy debt culture, but at the same time you have to understand how the game is played and play it to your advantage.
Freshman User
Joined: Oct 2009
Posts: 37
Likes: 0
From: Painesville, Ohio
Being in the car business for 10 years put me in my 2003 F250 SC/SB XLT 4x4 5.4 with 86k for $9,900 a year ago. That was less than trade on it. So, bought it with nothing down for 48 mos, 7.9% and let's say I could still turn a buck or two profit on it.
Do yourselves a favor, make a friend in the business before you buy. Mine was on the lot for $4,000 more than I paid for it.
Snowman
Do yourselves a favor, make a friend in the business before you buy. Mine was on the lot for $4,000 more than I paid for it.
Snowman
Fleet Mechanic
Joined: Jun 2006
Posts: 1,684
Likes: 2
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Joined: May 2004
Posts: 407
Likes: 0
From: Humble, Texas
I could make the argument that, as long as interest rates are low, it is financially unwise to pay cash for a vehicle.
Posting Guru
Joined: Oct 2009
Posts: 2,066
Likes: 4
From: Rogue River, Oregon
If paying cash for a truck is considered unwise, then I'm the wisest guy you'll ever meet! The only time I was ever able to pay cash for a truck was a few years ago when I paid $800 for beat-up '86 S10 that had spent it's entire life on logging roads. Other than that it's been robbing Peter to pay Paul...
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RumpityRump
1999 - 2016 Super Duty
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Apr 5, 2020 01:23 PM
