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re: Who’s buying a new truck this month and what prices and financing numbers are you getting?
Posted on 3/17/24 at 8:02 pm to TJack
Posted on 3/17/24 at 8:02 pm to TJack
quote:
I see a lot of .9% 1.9%. But damn truck prices are still high. I’m an OT pour and can only afford a $600 note.
If you can't afford to pay cash for a depreciating asset then you can't afford it.
Save yourself the trouble, buy a used truck and put that $600 a month into a Roth IRA.
8
Posted on 3/17/24 at 8:09 pm to Miglez
quote:
If you can't afford to pay cash for a depreciating asset then you can't afford it.
If I can get 8% in the stock market or 5% in a CD, you want me to pay cash when the finance option is .9 or 1.9%? Sounds legit
Posted on 3/17/24 at 8:21 pm to Miglez
quote:
If you can't afford to pay cash for a depreciating asset then you can't afford it.
This cash is king mentality was built in the conditions in 70s-80s.
You don’t want to get over your head in debt, but cars and houses are the places to take it.
You will lose more to opportunity costs saving up for the car then you will gain by interest costs.
The only caveat is you shouldn’t push the car past a 5 year note ever.
This post was edited on 3/17/24 at 9:10 pm
Posted on 3/17/24 at 8:27 pm to Miglez
SMH
This post was edited on 3/17/24 at 8:33 pm
Posted on 3/17/24 at 8:29 pm to Miglez
quote:I hope no one actually takes this advice every time it's posted in these types of threads.
If you can't afford to pay cash for a depreciating asset then you can't afford it.
It's just a thing people say but they don't really know why they say it.
Posted on 3/17/24 at 9:33 pm to Miglez
This reminds me of how my wife’s sisters husband bought an f150 with 90k miles on it. He installed a lift kit, new tires and a bunch of other crap.
It’s like pulling a crystal chandelier in a condemned house.
It’s like pulling a crystal chandelier in a condemned house.
Posted on 3/18/24 at 5:35 am to Miglez
quote:
Save yourself the trouble, buy a used truck and put that $600 a month into a Roth IRA.
Don't take the downvotes personally, most OTers are are avid wrastlin' fans, porn addicts, and alcoholics.
Posted on 3/18/24 at 7:31 am to Miglez
quote:
pay cash for a depreciating asset
good one dude 
Posted on 3/18/24 at 8:36 am to Miglez
"If you can't afford to pay cash for a depreciating asset then you can't afford it.
Save yourself the trouble, buy a used truck and put that $600 a month into a Roth IRA."
Even though rates are high, CD's are keeping pace at 5% plus. Auto loans are simple interest while a CD is compound so, if you finance at 5-7% and put that cash in a CD instead, you'll be making money.
Save yourself the trouble, buy a used truck and put that $600 a month into a Roth IRA."
Even though rates are high, CD's are keeping pace at 5% plus. Auto loans are simple interest while a CD is compound so, if you finance at 5-7% and put that cash in a CD instead, you'll be making money.
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