New truck every 5 years

[monteholic]

my reason to replace after 5years is I live in the heart of the rust belt, the Michigan winters with all the road salt play hell on vehicles, now if I lived farther south out of the road salt areas I would keep them longer

 

[Ravjay12]

I’m pretty sure you’re one of the few that buys a $30-50,000 truck cash. I could be wrong. But I’m pretty sure I’m not


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Yes, but I build up to it. I'm not wealthy by any stretch. Find what you want and save for it. I bought my 2012 used in 2016, but I had to save for a few years prior. I could've financed the 2016 Sport but decided that I couldn't justify the 30,000 price difference for a four year difference.
Buy cheap with cash and then trade up with cash. Find used deals you can afford. Im saving now for my future used truck. Most people who lease or have car payments can't afford the vehicle. The other group that leases are just wasting money.

 

[Addicted2fishing]

Yes, but I build up to it. I'm not wealthy by any stretch. Find what you want and save for it. I bought my 2012 used in 2016, but I had to save for a few years prior. I could've financed the 2016 Sport but decided that I couldn't justify the 30,000 price difference for a four year difference.
Buy cheap with cash and then trade up with cash. Find used deals you can afford. Im saving now for my future used truck. Most people who lease or have car payments can't afford the vehicle. The other group that leases are just wasting money.

I hear ya. It’s good for someone with will power and self control. I have zero of those. Like homer once said “ I have three kids and no money. Why can’t I have no kids and three money” lol. Finance life it is for me [emoji4]


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[Ravjay12]

I hear ya. It’s good for someone with will power and self control. I have zero of those. Like homer once said “ I have three kids and no money. Why can’t I have no kids and three money” lol. Finance life is it for me


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Yeah, I used to be the same. I decided one day I want to retire with money, not with a second job so I can pay for an overpriced truck. We got smart and now we live debt free. My "car payments" fund my mutual funds. If I want to modify my truck, I save and buy with cash.

 

[Black W900]

I’m pretty sure you’re one of the few that buys a $30-50,000 truck cash. I could be wrong. But I’m pretty sure I’m not


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I have paid cash for almost every vehicle I've ever owned, including my current Longhorn.
It's not that hard to do if you have a good system and you stick to it.
I don't like having a mortgage on vehicles or anything else.
Even if I finance something like a new tractor/trailer, I try to pay it off in a year or two at the most.

 

[ocwill1]

I guess I am one of the stupid ones, since I financed my 60K truck and lease a vehicle as well. I go through vehicles every 2-3 years, and that is why we lease the wifes ride. And I will retire and not have to work, based on the 401k that I have had since I started working at 18.. I will work if I want to, not because I have to....

 

[TMyers]

For those that trade or sale every 5 years, please take care of it. Your old truck is what I'm looking for. The depreciation of a new vehicle is ridiculous. Next to a mobile home, a new vehicle is the worst purchase investment you can make.

I agree with paying cash. But, some of the finance options being offered for "Approved" credit customers, I'm happy to use the finance company's money. As long as you pay it off, as soon as possible, financing is not so bad if you have good credit.