HOHN

I ask because I have to say that I see a lot of guys with some REALLY nice trucks and a lot of things done to them. But I don't see how you do it! I'm not rich, but I've been able to have a fairly comfortable life so far (subject to change, as always). But I can't even come close yet to what others have done, and I've had my truck 5 years. In those years, I've done injectors, D25 springs/track bar, a clutch, and a timing box. That's basically it. No stereo, lift, wheels/tires, exhaust, etc etc.

I know there are times when the "zero down and low financing" offers are really good, so you just take it. But how many of us put 20% down? 50%? Paid cash?

I'll confess that I put very little down and financed my truck too long because I bought more than I could afford. End result is that over the years, I ended up paying over $42K for my truck which I "bought" for $32.8K. Still not too bad, I suppose.

But I see guys with trucks that sold for $50K or more, driving around with $15K or more in add-ons, then they turn around and trade it in on something only 2 or 3 years newer and do it all again. How do you do that without losing your shirt?

The intent of this post is to 1) find out if I really am that poor or if others are just willing to spend more on their trucks, 2) cause each of us to do a little "sanity check", and 3) see if there's some missing secret to getting all the truck toys you want that I'm missing out on.

Justin

Dodgezilla

Some of us are just stupid and have to have a new vehicle every couple of years. I get bored pretty easily but I swear I am trying to keep this truck for a long time. I finally got smart and got one with everything I wanted instead of buying whatever they had on the lot. I traded my 03 in with Formula1 injectors and a full DTT trans in it.....
I had half down due to my trade which was paid for.

bhaugen

That gives the rest of us some nice used trucks to choose from.

I know some people that they have 1 nice vehicle (the truck) and live in a crappy house and their second vehicle is falling apart.

Oldschooldodge

I paid $8500 cash for my 1st gen in 2000 with 75K on the odometer, and it has been great. The newer trucks are nice, but payments suck. Besides 2nd and 3rd gens are a dime-a-dozen, you can turn more heads with a clean 1st gen.

gerry

I run alot of LIcense plates and have to say most of the nicer vehicles out there are leased.. Basically they are renting the cars...

gerry

or they bought older used trucks...

Maybe the poll should be clarified How much down did you put on the purchase of a NEW truck....

sixb

I think most people buy more than they can afford. My truck, house and everything is paid for. I have never fianaced a truck for more than 4 years or a house for more than 15. I also have never gone full term on any loan. I don't mean to brag or be disrespectfull but 10g in intrest is outrageous! I have no education (8th grade) as you can probably tell by my writing, but I work my arss off manually and i'll be danged if I am going to give it to a bank. I think america is back arss wards when it comes to how they handle their money or in most cases the banks money I should say. I am 42 with 4 kids a wife of 16 years and I bought my first house at 20 and my first new truck at 21. I also will never buy a new vehicle ever again. I think it is the way I was raised, my grandparents have probably spent less than 10g on intrest in there 85 years of life. I really don't mean to be rude but that is shocking to me (I bought more than I could afford so i'll just pay even more for it) but that really is how america thinks.

HOHN

10G in interest *is* outgrageous, and I'm coming clean in admitting it was foohardly.

So no offense taken.

I suspect that others have paid a LOT more than that, though

displacedtexan

Bought mine a year and a half ago. (I'm sure some remember the story)

I put $3k down out of the $12k price.

I agree Americans in general over spend particularly with credidt. I know the wife and I did for a few years when we first got married. Young and dumb. But I am proud to say we have paid cash for EVERYTHING for 8 months!

TxDiesel007

uve been to laredo texas havent ya?

Rick

mainer

i bought my 98.. 13 months ago for 10,500, i put $4k down and it will be paid off in the spring.

i'm 20, and in college, go to school 4 days a week, work 3, and work 6 days a week in the summer.


this truck was the first time i've ever been in debt. i had an audi a4 before the truck with probably 5k in mods, paid cash for the car and cash for all the mods.

sixb

Your right I have a friend who racked more than that in late charges on his house. After re-reading what I wrote I realize I am venting to the wrong person. I appoligize.

PoorMansCat

I wonder the same thing sometimes... we've got a bunch of new guys in the shop that all have new trucks.... and I KNOW what they make an hour... I suspect its some of that "exotic financing" Personally, this was the first truck that I was financially able to put down enough money to give me some comfort. I had put down 6K on the 04 model that I had b4 this one and had alot of equity in my trade (paid for). I got way more for the 04 when I traded it in than I owed..(financed at 4.75% for 4 years).
I bit the bullet on the 06 model and put down 8K in cash, plus the trade equity. Again, financed at 4.75% for 4 years.
I'm by NO means rich and I work hard for a living. But, I have very few things financed. Only 2 vehicles and the house. All the toys are paid for.
I heard on the news the other day that almost 70% of american households at 1 missed paycheck away from bankruptcy!!!!!... I think its the "I gotta have the biggest, best, newest thing and I gotta have it NOW" mentality.

coachgrowl

This is the last truck I will ever own. It is mine no payment on rig or truck. Do not give money to the English money lenders.

Shovelhead

I refi'ed mine about 1/2 way though the term and saved about 8% over Chrysler's ridiculously high interest rate and paid my truck off a year and a half sooner.