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hvac

Michigan

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Posted: 08/25/19 03:11pm Link  |  Quote  |  Print  |  Notify Moderator

I dont buy the pay off a new truck at purchase. This from one debt free since age 50. Now 63. I budget for payments like food, taxes, etc.maybe a few years of no payments. Repairs and inconvenience of an aging drive train, not me anyway. New every 6 years. Works for me..

gattorgetter

michigan

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Posted: 08/26/19 12:44am Link  |  Quote  |  Print  |  Notify Moderator

Huntindog wrote:

Is on the way.
We pulled the trigger today on a 2020 Silverado High Country 3500 DRW Crew Cab Duramax/Allison 4x4.
Got just about everything but the Sunroof and blackout lights.
Should arrive in 8-10 weeks.


Plan on longer than that... we havent begun to build them yet

HTElectrical

Las Vegas

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Posted: 08/26/19 04:46am Link  |  Quote  |  Print  |  Notify Moderator

Huntindog wrote:

Bionic Man wrote:

Huntindog wrote:

Jayco-noslide wrote:

Ummmm. Must be like buying a fancy luxury car; Mercedes, BMW. I won't ask you personally and don't want to know, but I'm wondering how many young folks buy and finance these things for a hundred years.
I have not had a car payment in decades. That will remain so going forward.

As for the youngsters.... Starting out they likely need to have car payments. Hopefully many will get off the payment train ASAP.


I just bought an Expedition. Ford Credit finance choices were 0% for 5 years or 1.8% for 6. At those interest rates it would be silly to use your own money.

Congrats on the new ride. I hope it treats you well.
Financing is never free. It is rolled into the price when it is offered. If you look hard enough, you can buy it for less if you forgo the "free" financing

Just one of the many games the car biz plays.


That is DEFINITELY not always true!!!! I was going to buy my truck with cash, but when I found out that I could get 0% financing I said "why not." You have to make your deal with an out the door price. Once you get the cash price you find acceptable, then you can take the 0% financing. I was still able to use my GM cash, and rebate.


2007 Duramax, Cognito 7"-9" Lift,


Huntindog

Phoenix AZ

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Posted: 08/26/19 12:27pm Link  |  Quote  |  Print  |  Notify Moderator

HTElectrical wrote:

Huntindog wrote:

Bionic Man wrote:

Huntindog wrote:

Jayco-noslide wrote:

Ummmm. Must be like buying a fancy luxury car; Mercedes, BMW. I won't ask you personally and don't want to know, but I'm wondering how many young folks buy and finance these things for a hundred years.
I have not had a car payment in decades. That will remain so going forward.

As for the youngsters.... Starting out they likely need to have car payments. Hopefully many will get off the payment train ASAP.


I just bought an Expedition. Ford Credit finance choices were 0% for 5 years or 1.8% for 6. At those interest rates it would be silly to use your own money.

Congrats on the new ride. I hope it treats you well.
Financing is never free. It is rolled into the price when it is offered. If you look hard enough, you can buy it for less if you forgo the "free" financing

Just one of the many games the car biz plays.


That is DEFINITELY not always true!!!! I was going to buy my truck with cash, but when I found out that I could get 0% financing I said "why not." You have to make your deal with an out the door price. Once you get the cash price you find acceptable, then you can take the 0% financing. I was still able to use my GM cash, and rebate.
A good dealer is one that makes you feel as though you got the best of him.

The facts are way different than the feeling though. Dealerships, Banks etc. all occuppy property worth way more than all of our houses.
That didn't happen by customers getting the best of them.
The same thing applies to Casinos.

You had a great dealer.
You did not get the best price you could have though.... In your own words, you got a price you were happy with. Two different things.



Huntindog
100% boondocking
2010 Palomino Sabre 30 BHDS
84 gal. Grey. 84 gal. Black
2 bathrooms, no waiting
2011 Silverado CC DA big dually.



mich800

Pontiac, MI

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Posted: 08/26/19 12:32pm Link  |  Quote  |  Print  |  Notify Moderator

Huntindog wrote:

HTElectrical wrote:

Huntindog wrote:

Bionic Man wrote:

Huntindog wrote:

Jayco-noslide wrote:

Ummmm. Must be like buying a fancy luxury car; Mercedes, BMW. I won't ask you personally and don't want to know, but I'm wondering how many young folks buy and finance these things for a hundred years.
I have not had a car payment in decades. That will remain so going forward.

As for the youngsters.... Starting out they likely need to have car payments. Hopefully many will get off the payment train ASAP.


I just bought an Expedition. Ford Credit finance choices were 0% for 5 years or 1.8% for 6. At those interest rates it would be silly to use your own money.

Congrats on the new ride. I hope it treats you well.
Financing is never free. It is rolled into the price when it is offered. If you look hard enough, you can buy it for less if you forgo the "free" financing

Just one of the many games the car biz plays.


That is DEFINITELY not always true!!!! I was going to buy my truck with cash, but when I found out that I could get 0% financing I said "why not." You have to make your deal with an out the door price. Once you get the cash price you find acceptable, then you can take the 0% financing. I was still able to use my GM cash, and rebate.
A good dealer is one that makes you feel as though you got the best of him.

The facts are way different than the feeling though. Dealerships, Banks etc. all occuppy property worth way more than all of our houses.
That didn't happen by customers getting the best of them.
The same thing applies to Casinos.

You had a great dealer.
You did not get the best price you could have though.... In your own words, you got a price you were happy with. Two different things.


Correct. Zero financing is typically in lieu of a different rebate. If you like to negotiate you can still get a good deal and throw away one of the rebates and come out ahead.

4x4ord

Alberta

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Posted: 08/28/19 04:36am Link  |  Quote  |  Print  |  Notify Moderator

Whether a person uses the banks money or their own is not really a big deal. I think I've heard that those who are good with their money have no more than 5% of thier networth tied up in vehicles. Probably not a bad rule for us over 50 to adhere to.


2017 F350 SRW Platinum short box 4x4.
B&W Companion
2008 Citation Platinum XL 34.5

BigDinAZ

Arizona

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Posted: 08/28/19 05:14am Link  |  Quote  |  Print  |  Notify Moderator

The key is to know how to deal. Never, ever take the first offer. They always come back high. Don't let them see how much you want it, and negotiate. Most dealers want to move inventory and they will negotiate, if they don't want to give you a deal you want, walk.
We had a really good trade which was paid for. The sticker on our truck after rebates came out to like 63k. Rather than try and talk them down on the truck, we talked them up on our trade. We ended up at half to askig price of the truck after tax, title, and tags it was like 32k which we paid cash for.

The RV deal was because we waited until they were clearing them off the lot for the new 20 models. We ended up financing the rv to keep credit high. In the end we financed 30k which is very manageable as we have no other debt.
We waited and watched them for quite a while and we saw the prices on the 19's going down until it was where we felt is was good, then we purchased.
I am not a compulsive buyer, and I used to sell campground memberships and time shares, so I know the rodeo game and play on my rules, not the dealers.


2018 Ram 3500 Laramie Crew-cab Long Box DRW, 6.7L Cummins Diesel, 4:10 rear, 14,000 GVWR, 5,704 Payload, 30,300 GCWR.


2019 Coachmen Chaparral Lite 30RLS, 34', triple slide, 11,000GVWR.


troubledwaters

Potomac

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Posted: 08/28/19 08:13am Link  |  Quote  |  Print  |  Notify Moderator

Huntindog wrote:

Financing is never free. It is rolled into the price when it is offered. If you look hard enough, you can buy it for less if you forgo the "free" financing

Just one of the many games the car biz plays.
With all due respect, you can get a rock bottom deal and great dealer financing also. Actually the dealer doesn't finance anything, they just have good connections at lending institutions that can give the "good credit" buyers really low rates. Every deal I've ever made, I negotiated a rock bottom price first; including all possible incentives. At the same time, I've always went in knowing exactly what the lowest bottom line finance rate I could get on my own was. Then if a dealer could get me a lower rate, I would take it. Sometimes they could beat the rate I got sometimes they can't. You can have your cake and it too; you just have to be as well informed as the dealer.

Works the same way for zero percent financing vs. a cash incentive. Take which ever one works out best when you do the math. It's an either or proposition, not rocket science.

cummins2014

Utah

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Posted: 08/28/19 10:04am Link  |  Quote  |  Print  |  Notify Moderator

Huntindog wrote:

Bionic Man wrote:

Huntindog wrote:

Jayco-noslide wrote:

Ummmm. Must be like buying a fancy luxury car; Mercedes, BMW. I won't ask you personally and don't want to know, but I'm wondering how many young folks buy and finance these things for a hundred years.
I have not had a car payment in decades. That will remain so going forward.

As for the youngsters.... Starting out they likely need to have car payments. Hopefully many will get off the payment train ASAP.


I just bought an Expedition. Ford Credit finance choices were 0% for 5 years or 1.8% for 6. At those interest rates it would be silly to use your own money.

Congrats on the new ride. I hope it treats you well.
Financing is never free. It is rolled into the price when it is offered. If you look hard enough, you can buy it for less if you forgo the "free" financing

Just one of the many games the car biz plays.



My question is, you are pretty adamant about paying cash. If one negotiates the best deal they can, then when it comes to the money, they can finance that new truck for say 1.5% , is it wise to still pay cash, whats your thoughts on that.

My thoughts providing its the best deal regardless, you got the rebates, you got what you could trading the old truck in whatever etc etc. Why not use their money. Lets pick 40K you had to pony up to pay cash, can you earn at least 5% somewhere, would you not be better off say in four years paying the loan, and letting the 40K make you some money ,at least a bit more after covering the interest on the loan. Remember now you still have the 40K in the investment making 5%. I always hear ,well its peace of mind having paid cash, is not also peace of mind making money, and ALWAYS having the option to pay that loan off at any time. I know things change, but is that a good or bad option .

cummins2014

Utah

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Posted: 08/28/19 10:15am Link  |  Quote  |  Print  |  Notify Moderator

troubledwaters wrote:

Huntindog wrote:

Financing is never free. It is rolled into the price when it is offered. If you look hard enough, you can buy it for less if you forgo the "free" financing

Just one of the many games the car biz plays.
With all due respect, you can get a rock bottom deal and great dealer financing also. Actually the dealer doesn't finance anything, they just have good connections at lending institutions that can give the "good credit" buyers really low rates. Every deal I've ever made, I negotiated a rock bottom price first; including all possible incentives. At the same time, I've always went in knowing exactly what the lowest bottom line finance rate I could get on my own was. Then if a dealer could get me a lower rate, I would take it. Sometimes they could beat the rate I got sometimes they can't. You can have your cake and it too; you just have to be as well informed as the dealer.

Works the same way for zero percent financing vs. a cash incentive. Take which ever one works out best when you do the math. It's an either or proposition, not rocket science.



I have to agree with you, but some seem adamant about paying cash. After the deal was done on my last purchase , 2014 Ram 3500 , the loan was 1.69%. It seemed foolish to use my money , maybe WE are wrong, but doing the math on what that money I didn't pay cash on the truck, did a lot better then 1.69%. . Now that truck is paid off, and I still have my money in the investment it was in . Again maybe WE are wrong, but would sure like to see it shown, or explained differently then the way I am figuring it .

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