Justification of truck payment.....

[JRG18]

I bought mine mid January 2016. It was built April 2015 so it was still pretty new with only 13k miles. The OTD price was ~40250. I look from time to time what the estimated worth is on all of the regular sites and they all say it is still worth more than what I paid for it, although I have put about 8500 in upgrades into it. Only justification I need is I have always driven Cummins powered pickups and I thought this one was a great deal.

Put some down and financed 32k @ 3.4% for a payment of $493 for 72, but should have it paid off by spring.

 

[zogg]

Some years ago, I started buying Certified Used trucks. My current Ram is a CPO 2017 Bighorn Quad cab. with a host of options that I would not have otherwise purchased. It had 14,000 miles on it, but the CPO extra warranty stretches the bumper to bumper an extra 3,000 miles, and the power train warranty goes to 7 years and 100,000 miles. Plus it is transferable 1 time if I choose to sell it.

The sticker on the truck was originally $46,000+, and I paid right at $31,000. It was like brand new and even with the big rebates, I think it was a pretty good deal.

You cannot really win when buying a vehicle but this is better than I have done before....

Financed it for 77 months (ugh) at 2.79% with my credit union and got payments of $460.13.

 

[malatu]

I've always purchased used vehicles as a young man and middle aged man. Doing that hat would allow me to get a little more car that i could afford if new and The cars became nicer as I got older. I typically would pay cash or put a large chunk down as a down payment to keep monthly payments down and have a relatively short term. Not having payment or very low monthly payments would allow me to put more money into my 401k. I pretty much did this for 30+years. The last last car I purchased was a 3 year old Cadillac STS. It was a Certifiable so I paid about $1300 more for it which extended the manufacturer's bumper to bumper another 50K miles or two years, whichever came first. Get this... that warranty didn't go into effect until the original manufacture's warranty expired. GM was struggling back then(2009) and were giving away the farm to gain customers.

Because used cars always worked for me, I never expected to purchase a new vehicle. But a year ago I was getting ready to pull the trigger on a low mileage (12k miles) 18 month old Laramie. Before I bought it, I discovered once I placed an extended warranty on the used truck, I could buy a new Laramie for an additional $2,300. That's what I ended up doing. In addition, just a couple of months ago, I purchased the Lifetime Warranty for $2,700 for I generally keep vehicles for quite a while.

So far I'm thrilled with the truck. My payments are 544 for 52 months. It hurts making the payments but I can afford it. The older I get, I realize that I'm a lot closer to my death than my birth and ya can't take it with ya! That gives ya a different perspective on spending money! A while back I discovered, sometimes it's harder to spend money than it is to save it!

 

[Fergusontd]

My 2nd gen just hit 203,000. Went in today and looked at a 17 Tradesmen 1500, HEMI 4wd. No options. Totally stripped down. $619.00 a month for 60 months!!!!!!! Just wondering how average owners stomach the payment then actually use it?
I work with a guy with a 17 2500 big horn diesel and I choked when he told me his payment was almost $1000.00. Not trying to be negative. I just can't see the value as a non-commercial vehicle. Here in Pennsylvania, body perforation historically for Rams is between 4/5 years. The dealer was fixed for me going 84 or 120 months!

Lease it, much cheaper. Got a '17 Bighorn $373 monthly. $50k truck.

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[Fergusontd]

They were going to let you finance for 10 years???!!!!! I think most go 72 months on a newer vehicle.


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[Wahrsuul]

Wow...just wow. And here I was aggravated I had to go over 3 years to finance mine.

 

[Razzman]

I wasn't actually going to buy one this year, was just looking with the wife last month. Found a '17 Laramie loaded and after some serious discussions decided to buy it after getting them down to just over 40K for a stickered $56+K truck. Couldn't pass on that deal, and scored the lifetime warranty for $2K, all good until they said Chrysler Credit wanted $13K down @ 6.99 APR! I laughed my ass off, called my credit union and had a loan in 10 over the phone @ 2.99 for 72 months. Boy were they pissed they couldn't get anymore outta me lol.

 

[TRCM]

Lease it, much cheaper. Got a '17 Bighorn $373 monthly. $50k truck.

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Leasing it may be cheaper per month, but in the long run, it isn't. Evem if you turn it in at the end of the lease, you just paid 370/mo for 2-3 yrs, and having nothing to show for it....if you buy, at least you have equity to show for it.

And if yo go over the allowed mileage, standby......it's gonna hurt.

 

[Fergusontd]

Leasing it may be cheaper per month, but in the long run, it isn't. Evem if you turn it in at the end of the lease, you just paid 370/mo for 2-3 yrs, and having nothing to show for it....if you buy, at least you have equity to show for it.

And if yo go over the allowed mileage, standby......it's gonna hurt.

I'm going to buy it at the end of the lease. If I would have bought it I would have had $530 payments for 72 months. The cost is 23k and will pay cash at the end of the lease.

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[Lesnocker]

Eh we just decided to re body my 00. $2200.00 worth of work we will be receiving an almost new truck. Honestly we do not need a new truck. Plus I work 2 miles from home. So my truck is barely at 130 on the temp gauge. Thanks for the insight.

 

[Gary2]

I never have to justify my payments. If I can put enough down to make the payments sensible then the truck is more than I can afford and will look for something cheaper. Live within your means , you can't always get exactly what you want . Next thing ya know the novelty of the new truck has worn off but the big payments haven't.

 

[BigRed4x4]

Never had to justify a high payment, I knew what I could afford. I went through 2 vehicles, one in high school and one the first few years on my own. One was a hammy down that went through 2 older brothers and the other was a $1500.00 GM pos. The first car I ever bought was new with payments of 233.00em. Next was an off lease SUV, $268em and my current Ram was also off lease at $336.00em.

I have too many friends that are one hicup away from bankruptcy but if you didn't know better you'd think they made the big bucks.

 

[tones2SS]

Talk about justifying a huge payment. *****
I "may" trade in the truck for ordering a 2018/2019 Jeep Trackhawk. It's going to be very expensive and a big payment, but if my raise is really good as my boss says it will be in the beginning of the year, I may entertain it. It all depends on how much they give me on my gorgeous trade-in. Super low mileage and in great shape.
My Dodge salesman says they have 4 on order and I told him to let me know when they come in so I can sit in one, check it out in person and go for a test drive. I'll order mine as I want a color/option specific.