Looking at Enterprise fleet vehicles a Ford F150 XLT 4WD with about 20K - 25K miles runs right at $30K. If I put down $15,000 and take a 36 month note from my local bank or USAA that's about a $430 per month payment. That's my threshold for pain.
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Are Simple/cheap pickup trucks gone forever?
- Thread starter Comanche
- Start date
Nice, yeah I exaggerated a bit on that 1500 claim. But hell 1110 a month is still way more than my house note! I can't fathom having a higher car note than my house. And 84 month financing is crazy on something that depreciates so fast. I couldn't stomach that. I got my 2013 F150 FX4 package used, for $22k about 18 months ago. 1.9%APR and $400 a month. That's about as much as I'm willing to do. I'm a cheapskate.
You're doing better than a lot of folks I financed. The 250 at a little over 700 a month. Not bad. And you are most likely smart enough to not let that be a huge chunk of your monthly net income. Most the paper I bought (or most likely didnt buy) didnt look like that. I saw deals that were like that for folks making much less than 4k net a month and it always boggled my mind why someone would do that to themselves.
Atlanta Luxury Motors in Bufford. It's a 2016 with 26k miles. It helped that for some reason they had it as a F-150 shortbed XL in the system. They knew that wasn't what it was and I kept waiting for them to come back and tell me the price was higher, but they never did. It was actually closer to 30k but I feel I got a smoking deal just the same.
Diesel trucks don't depreciate nearly as fast as gasoline trucks. I sold that King Ranch for 6000 less than I paid for it after owning it for two years.
Break it out per week. I week for taxes, 1 week for vehicle/insurance, 1 week house/bills, 1 week grocery's/gas/spending/kids/savings/etc. And those were the folks being responsible and doing well from what I saw as usual. Debt is a trap that comes with complimentary chains. Working in that industry really opened my eyes.
See that's the problem. I think I got the $24K base price from the Ford site but not sure. But seriously no small/mid size truck should be priced over $25K. Yeah I guess I could be living in the past but once you get that expensive the small trucks just lose ALL their appeal. It's kinda like the $500.00 to $700.00 SKS. They were great rifles at $100.00 and even up to about $250.00. Beyond that I'm out.
I own 6 vehicles. Two are financed and 4 are paid off. My wifes Escape and my truck I carry a note on, but the little hondas I run back and forth into Atlanta in are purchased cash every year or two. My son's truck I traded guns for here on ODT and my motorcycles were purchased or traded for outright.
On the two vehicles my wife and I do carry a note on I finance them at low rates, buy them for smoking deals and then make at least 1.5X payments. If the payment is 400 a month we pay 300 twice a month for a total of 600 a month. I used to have a little focus before I started buying the hondas outright. It's payment was 250 per month so we paid 250 twice a month for a double payment.
We of course get eaten alive on my wifes car because she drives it so much, but my trucks only get about 10k miles a year so when I sell them I usually get close to what I paid for them.
We have our finances set up so that if one of us lost our job we could still make all of our payments. We wouldn't be able to do much else besides buy gas and groceries but we would at least survive.
We also have our home financed in my wife's name only and our vehicles are financed in my name only. Our thought there is if we ever got in a really big bind we could let the house or the vehicles go and buy cheaper alternatives on the other spouse's credit. I don't know if that would actually work but it seems like a good plan on paper.
Couldnt agree more. That's why I'll stick with my paid for jeep. They just dont make anything I want at a price I'm willing to pay.
I will let them sit on the car lots until the tires rot before i will pay inflated car & truck prices!
