How in the world
#17
#18
well just use your head (on your shoulders) before you buy. i have to have a truck. a superduty is a little overkill though. i only pull a 18' trailer a couple times a year with a tractor on it or the old military truck my nieborhood ownes to clear snow off our private road when it needs repairs. i could borrow my bosses psd when i needed to but no pride in that. so march 09 my wife wrecked my 05 silverado 1/2 ton and when it was fixed things were just not right. i bought my 08 psd with them paying off my chevy, $15000 in dealer and factory rebates, and in the end the payments were only $38.00 a month more for a lot more truck. a new chevy 1/2 ton would cost me a lot more. $33,000 i spent for the psd vrs $45,000 for the 1/2 ton chevys i was looking at. the only down side is the maint. cost and the fact my wife didnt talk to my for over a week. on second thought that was a bonus...
#19
i don't have a problem with people who buy new diesel trucks and actually use and need their power and strength. what gets me is the grocery getters and soccer moms in diesel excursions or like i said a single guy with a diesel mega cab. overkill man. but i guess if you can afford it do what you want
#20
You can't beat the resale value on a Super Duty. Go buy a gasser and lose 10K driving it off the lot. Buy a Diesel and take good care of it, and it doesn't cost you much to drive it compared to the depreciation on a gasser. I started off with a used one and worked my way up to a new one after I saved some money up to put down on a new one. I also was able to get $11,000 off a new one. I pay $325 a month for a 2010 F350.
Oh, and putting money down on a depreciating asset is about the worst thing you could possibly do with your money. Sad to see you save all your money up and then watch it disappear, remember some day your truck will be worth nothing, and so will that cash down. Next time, put your money where it will make money and use your earnings to help make the higher payment.
#21
Oh, and putting money down on a depreciating asset is about the worst thing you could possibly do with your money. Sad to see you save all your money up and then watch it disappear, remember some day your truck will be worth nothing, and so will that cash down. Next time, put your money where it will make money and use your earnings to help make the higher payment.
But in 2007, if you put you money someplace where it looked like "it would make money" (e.g. the stock market), you will have less money now than if you paid cash for a new pickup.
So things do not always work out like we planned. There is something to be said for paying cash and knowing that you own something, whether is finacial numbers work out the best or not.
Also, in case you forgot, making a truck payment is also "putting money down on a depreciating asset", you are just doing it a little bit every month rather than all at once.
Now the better argument is that liquid assets (cash and cash equivalents) are more valuable than non-liquid assets (house, cars, etc.) because liquid assets can be used immediately. Non-liquid assets have to be made liquid before they can be used (unless you barter).
#22
Hate to break it too you, but your diesel will lose about the same from driving it off the lot. Not to mention the more money the vehicle is, the more there is to drop in value. A diesel is about $8000 more then the gas, meaning from day one till it's trip to the junkyard it will cost $8000 more.
The diesel engine adds about $6000 to the trade-in value of a 2008 F250.
So you are correct that you will never get back the $8000 that you pay for the diesel option.
But if you have ever pulled 10,000+ lbs. behind a gasser (Dodge V-10 in my case) and a diesel, you will understand why people pop the extra coin for the diesel.
You also fail to recognize that there is still a significant fuel savings with a diesel. For example, with my big trailer, I average around 13 mpg in my 06 CTD. My Dodge V-10 got around 8 mpg pulling the same trailer. My 06 now has 25,000 miles. At $3/gal for diesel and $2.65/gal for gas, over 25,000 miles I have saved about $2500 in fuel cost using a diesel instead of gas. Deduct $200 for extra maintence on the diesel (I use cheap oil and do the work myself), and I have still saved $2200-$2300 in fuel. Roughly $0.11/mile.
Although these numbers may not be representative for anyone else, at around $0.10/mile, and remembering that my diesel is worth about $5k more at trade-in time, I have already gotten the extra $6k for the diesel option (2006 prices) back. Now, it is all money in my pocket. And that is not even considering how much better my diesel tows.
The math is not always as simple as some people think.
#23
I have thought a lot about this, and at points felt a bit guilty for driving my dad's "excessive" vehicle--as some would call it. But I woke up one day and came to the conclusion that anyone who judges you for doing something or owning something is just a resentful person. If you care or have to reason about why you're buying a truck, then you care a bit too much about what people think. I can't speak for myself because I bought my truck used and at a bargain bin price. But my father bought his diesel because he loves the smell of diesel in the morning. Society says that we must go to school and become a "college grad" in order to achieve happiness, but my father's a truck driver and loves his job. He got his truck because he works around diesels, and quite frankly I never saw him being truly happy when he had his V6 Mustang. At the end of the day it's all about what makes you happy. I think that's what makes a lot of us truck/car guys, the fact that we are willing to go overboard on a truck, because this is what we want to own. It's not a Prius which society would have us buy in order to fit in; it's just a representation of the things we love in cars. For some it's just a useful towing machine, for others it's a grocery getter, and some even make their livings off of these trucks. In the end it doesn't matter, because it's our choice.
Claiming that a manufacturer is out of their mind for pricing a truck at an obscene price point, is like saying that you want them to give the truck away. Now I know diesels were at 30k at one point, but these trucks have had significant upgrades (6.7, the info screen, etc. etc.), and we also have to take into consideration the inflation made to the dollar. If you can afford the truck then praise it, but what do you gain by insulting people and their vehicle?
Claiming that a manufacturer is out of their mind for pricing a truck at an obscene price point, is like saying that you want them to give the truck away. Now I know diesels were at 30k at one point, but these trucks have had significant upgrades (6.7, the info screen, etc. etc.), and we also have to take into consideration the inflation made to the dollar. If you can afford the truck then praise it, but what do you gain by insulting people and their vehicle?
#24
Buying a new vehicle is not a great idea but if that is what you want then go buy yourself one.
If this new 6.7L diesel gets good reviews then I will be purchasing a brand new one. That is my decision and my money. I've wanted a diesel since the powerstoke (7.3L) first came out but have never been able to flip the coin for one. Didn't want nothing to do with the 6.0L or the 6.4L because of the problems (6.0L) and the fuel mileage (6.4L).
This is just my opinion and my money to do whatever I feel the need to.
If this new 6.7L diesel gets good reviews then I will be purchasing a brand new one. That is my decision and my money. I've wanted a diesel since the powerstoke (7.3L) first came out but have never been able to flip the coin for one. Didn't want nothing to do with the 6.0L or the 6.4L because of the problems (6.0L) and the fuel mileage (6.4L).
This is just my opinion and my money to do whatever I feel the need to.
#25
i did
i agree with above post! Do what you want, what makes you happy. you only live once!
Everyone has different opinions rather used or new....honestly they are all true and have good points!
Then on top of that...60k investing somewhere isn't quit going to make the payment! You need a LOT more money than 60k to make a 1000.00 a month payment..well, you would actually need more than that because you need to pay uncle sam from that interest you earned too!
If you have that much money to earn 1300-1400.00 a month in interest...Holy crap...you wouldn't be moaning over dropping 60k on a new truck!!!
In order to earn a 1000.00 a year...i need 100,000 invested in a CD...now you need that much per month..you do that math! Now, you tell me how many people have that much to invest....
Now, i'm not like Happy i'm dropping 60k for a new truck! lol
But i'm very OCD on my vehicles! I need something to pull a 18k 5th wheel
And YES, it is a better finacial decision to buy used.....but there is a big down side to that too (at least for me)
I decided to buy new because i plan on keeping this truck for a LONG Time!
I can not begin to tell you how much more relaxed and confident i am, that when i go somewhere with my 5th wheel or take a 4 hour trip empty or if i decide to go across country...that i know how my truck has been treated and what has been done!
Just makes me feel Good and so much less stressfull! That for me is Priceless!
Everyone has different opinions rather used or new....honestly they are all true and have good points!
Then on top of that...60k investing somewhere isn't quit going to make the payment! You need a LOT more money than 60k to make a 1000.00 a month payment..well, you would actually need more than that because you need to pay uncle sam from that interest you earned too!
If you have that much money to earn 1300-1400.00 a month in interest...Holy crap...you wouldn't be moaning over dropping 60k on a new truck!!!
In order to earn a 1000.00 a year...i need 100,000 invested in a CD...now you need that much per month..you do that math! Now, you tell me how many people have that much to invest....
Now, i'm not like Happy i'm dropping 60k for a new truck! lol
But i'm very OCD on my vehicles! I need something to pull a 18k 5th wheel
And YES, it is a better finacial decision to buy used.....but there is a big down side to that too (at least for me)
I decided to buy new because i plan on keeping this truck for a LONG Time!
I can not begin to tell you how much more relaxed and confident i am, that when i go somewhere with my 5th wheel or take a 4 hour trip empty or if i decide to go across country...that i know how my truck has been treated and what has been done!
Just makes me feel Good and so much less stressfull! That for me is Priceless!
#26
Our 2 '08 6.4 F250's are work/business trucks. They have a combined odometer reading of around 240,000 miles in just under 3 years of service (mine has 138,000).
The payments on them are huge, but the payments are factored into our job quotes, so, the trucks earn their keep.
NO WAY could I afford to buy one for my own driveway. I am very lucky to be able to make the payments from the business bank account and not my personal account.
Both trucks will be paid for this year but the 6.7 is becoming a real temptation. Lots of $$ to be diverted away from oil and into the Ford business. I won't save anything by buying new but Ford will get the $$ I would have spent feeding the 6.4's.
The payments on them are huge, but the payments are factored into our job quotes, so, the trucks earn their keep.
NO WAY could I afford to buy one for my own driveway. I am very lucky to be able to make the payments from the business bank account and not my personal account.
Both trucks will be paid for this year but the 6.7 is becoming a real temptation. Lots of $$ to be diverted away from oil and into the Ford business. I won't save anything by buying new but Ford will get the $$ I would have spent feeding the 6.4's.
#27
Can't resist not chiming in on this one. Since I was a Freshmen in College, or even a Junior in High School I have wanted to be able to tow my Jeep to the trail and not worry about it being my DD and having to drive it on Monday to school/work.
Now that I have finished with school, and am out of the military, and have a wonderful civilian job. I could finally afford a nice vehicle for myself. Did I absolutely need a F-350 with a 6.4, no of course not. However I now have the capability to load my jeep and a buddies rig on a trailer + gear if need be.
Buying a vehicle that is used daily regardless of what it is used for should not be considered an investment. MAYBE... if it is being used for a business. So why is "investment" even part of anyone's point... If you buy a Hemi Cuda which could some day be worth 100k, sure that is an investment, but you better not drive that!
We live in America... Canada too! If someone can afford something weather they need it or not GOOD FOR THEM! They obviously did something right. If your not there yet hard work, dedication and smart choices will get you your dream truck/car.
Now that I have finished with school, and am out of the military, and have a wonderful civilian job. I could finally afford a nice vehicle for myself. Did I absolutely need a F-350 with a 6.4, no of course not. However I now have the capability to load my jeep and a buddies rig on a trailer + gear if need be.
Buying a vehicle that is used daily regardless of what it is used for should not be considered an investment. MAYBE... if it is being used for a business. So why is "investment" even part of anyone's point... If you buy a Hemi Cuda which could some day be worth 100k, sure that is an investment, but you better not drive that!
We live in America... Canada too! If someone can afford something weather they need it or not GOOD FOR THEM! They obviously did something right. If your not there yet hard work, dedication and smart choices will get you your dream truck/car.
#28
We live in America... Canada too! If someone can afford something weather they need it or not GOOD FOR THEM! They obviously did something right. If your not there yet hard work, dedication and smart choices will get you your dream truck/car.[/quote]
My sentiments exactly. I was advised on Saturday by my dealer mine would be delivered on May 4th. ordered Febuary 27th. By the way America thank you for keeping Canada and the World safe. I love you all.
My sentiments exactly. I was advised on Saturday by my dealer mine would be delivered on May 4th. ordered Febuary 27th. By the way America thank you for keeping Canada and the World safe. I love you all.
#29
Oh, and putting money down on a depreciating asset is about the worst thing you could possibly do with your money. Sad to see you save all your money up and then watch it disappear, remember some day your truck will be worth nothing, and so will that cash down. Next time, put your money where it will make money and use your earnings to help make the higher payment.
I agree with you about putting your money in a place that is going to make you money, but making a payment vs. paying cash costs more money. Now if you can make back that $8k back from investing your money elsewhere (while making the payment on the truck) then it works, but that would have to be one solid, low risk investment with an almost guaranteed return.
People who save their money to buy things are not the people who caused this economic climate. (I'm not saying that you said that).
#30
I'm puzzled by your logic. Do the math. A $50k note for 5 yrs @ 6% interest is going to end up costing you an extra $8k in interest.
I agree with you about putting your money in a place that is going to make you money, but making a payment vs. paying cash costs more money. Now if you can make back that $8k back from investing your money elsewhere (while making the payment on the truck) then it works, but that would have to be one solid, low risk investment with an almost guaranteed return.
People who save their money to buy things are not the people who caused this economic climate. (I'm not saying that you said that).
I agree with you about putting your money in a place that is going to make you money, but making a payment vs. paying cash costs more money. Now if you can make back that $8k back from investing your money elsewhere (while making the payment on the truck) then it works, but that would have to be one solid, low risk investment with an almost guaranteed return.
People who save their money to buy things are not the people who caused this economic climate. (I'm not saying that you said that).
In my opinion, I would rather keep my $10,000 liquid for the small cost of $300/year. Granted my payment would be higher, but if I ever found myself short on making the payment, at least I know I have $10,000 in the bank.