% of income to spend on truck?

[Pull Ya]

I read back a few pages and I couldn't find any mention of the military.
R/T--I think we all know that respect is earned and not given, however there are a few professions that are respected just by virtue of the profession itself ie; military, police, fire and first responders to name a few. There are **** ants in everyone of those professions, however I would hate to use a broad brush when referring to one individual. If I took your comment wrong, my apologizes--just a little touchy about military service
Semper Fi
Jay

 

[GreenClassic]

I had great credit until my dad took out 9 credit cards in my name to the tune of $12,000. I didn't find out until after he died. It took me almost 3 years to fix my credit.

 

[Rzrman328]

I read back a few pages and I couldn't find any mention of the military.
R/T--I think we all know that respect is earned and not given, however there are a few professions that are respected just by virtue of the profession itself ie; military, police, fire and first responders to name a few. There are **** ants in everyone of those professions, however I would hate to use a broad brush when referring to one individual. If I took your comment wrong, my apologizes--just a little touchy about military service
Semper Fi
Jay

I understand what R/T was getting at....I've known quite a few turds during my time in my beloved Corps....but some of the basic things I tried to instill always were things like courtesy, tact, bearing....RESPECT...just to name a few. This z06 ******* doesn't look to possess any of those.

So R/T...no offense taken here.

 

[TestPilot57]

not realy asking what people make or what they spent on there trucks but just curious as to what the average other peoples payments are compared to there income.

im 26 so dont know to many people with new cars and want to upgrade soon it looks like ill be paying almost 1 full weeks pay as a truck payment and was wondering if that was to much or if anyone else shells out that much.

i tryed googling it and found a lot about this 10% rule which i found stupid 10% of most peoples income wouldnt buy them a car from a sketchy used car lot unless your making 100k a year.

If you use a formula to decide if you can afford a truck you are likely going to buy beyond your means. IOW, if there is any kind of wrinkle in your monetary position you are going to have failure points.

My truck is roughly 10% of my annual income. I have a loan because I could get one at less than the average rate of inflation (which means free money), and my monthly payment is approx 2% of my monthly income.

I wouldn't and never have consider(ed) spending close to my annual income on a vehicle, even when I was making minimum wage. By current standards, if I were making minimum wage and spending my annual salary on a vehicle that would be $20 grand! Never! If I was making minimum wage I would be looking to spend maybe $2k. Hey, that's 10%...

The current credit crisis in the USA is from people spending money they can't afford. Whenever I talk to a "car" salesman and they start talking about monthly payments I tell them I don't care. I want to know the price. As in, if I hauled out dollar bills, how many do you want.

 

[TestPilot57]

whats the difference if a 26 year old makes 70k a year or a 40 year old makes 70k a year?
.

14 years of earnings, or a millions dollars of earning.

Then again, what is your life goal? If it's to own a $40-50k new truck (that will be worth $5k if you're lucky in 20 years), go for it. But at 26, putting the money into a house and/or safe investments, it could allow you to retire 10 or more years earlier than your "friends that never grew up".

It all comes down to, what do you want from life? Everyone is different, and thankfully in the good ole USA we have a lot of choices.

 

[grozier]

I pay 571 month for 8yrs. On 41k note. Not sure if that's what your looking for but there's a lot of long winded answers on here

2015 ram sport 4x4

 

[TestPilot57]

One other point. Not sure if it's still a standard, but it used to be that the maximum total payment amounts when getting approval was 36% of income. So that means if you spend 23% of your income (one weeks' pay) on a truck payment, that leaves 13% for the actual mortgage, assuming no other payments. Unless you have a yuge salary, a ginormous down payment or are buying a really cheap house, it just ain't going to all go together. So you will be ruling out any chance of buying a house instead of flushing your money down the Rent Toilet.

 

[Mossybloak]

Wait for it......

 

[Pull Ya]

Rzrman328
I agree with your assessment of z06.
Jay

 

[THETANK]

funny story, well not that funny. On the GT500 and 2 SRT8 Challengers I pay the premium in full in Feb. I phone the insurance co to let them know one SRT8 is gone so I would like the remainder of the premium refunded. I sold the car in July so they owed me for 7 months. I forgot all about this and then one day I get a call from a collection agency stating I owe 67 dollars. Huh was my response and tell them listen if you want some work the insurance company owes me for 7 months premium. They phoned the house several dozen times and if I felt like some light entertainment I would answer otherwise I let the machine take the call.


My wife and I both have top notch credit scores and you would think I would just pay the 67.00 but I truly am a man of my word and very principled so basically the collection agency can pound sand. We had a similar incident 20 years ago when dealing with a satellite company and I refused to pay. The commercial finance manager (great girl) asked about the satellite situation, I explained the situation and she just chuckled and promptly lent me 600,000.00 I asked for. I would imagine she would laugh again regarding the 67.00 I do not owe. Hell I really do not even care about the 7 months that are owed me 3 years running.

 

[RumRunner]

I pay 571 month for 8yrs. On 41k note. Not sure if that's what your looking for but there's a lot of long winded answers on here

2015 ram sport 4x4

That's a long time to have a truck payment, I've never kept a vehicle that long. My payment for my pending truck will be similar per month, but I'm looking at least a couple of years or more shorter on the loan.

 

[grozier]

That's a long time to have a truck payment, I've never kept a vehicle that long. My payment for my pending truck will be similar per month, but I'm looking at least a couple of years or more shorter on the loan.

I usually send a little more a month. I keep my vehicles a while. I like having a little cheaper payment incase I need the money that month.

2015 ram sport 4x4

 

[Royals]

My truck plus insurance is right around a weeks pay. I was a salesman at the dealership I bought my truck from so they got me a pretty decent APR considering I really don't have much credit history. I'm comfortable with my payments and am currently saving to buy a house and stop throwing money in another mans pocket by paying rent.

 

[MR.Z06]

Deleted

 

[roadshow]

wow.

 

[MR.Z06]

Deleted due to inappropriate content.

 

[AFMoulton]

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Well that's childish.........

 

[R/T_Fire]

I read back a few pages and I couldn't find any mention of the military.
R/T--I think we all know that respect is earned and not given, however there are a few professions that are respected just by virtue of the profession itself ie; military, police, fire and first responders to name a few. There are **** ants in everyone of those professions, however I would hate to use a broad brush when referring to one individual. If I took your comment wrong, my apologizes--just a little touchy about military service
Semper Fi
Jay

No disrespect meant to any service man, police officer, firefighter etc etc... as a Fire fighter myself I see it all from both angles. But I do mean disrespect to those that have served in any form of service for this country that disgraces those uniforms and thinks just cause they are military or police or fire that they are better than anyone else.... That attitude is unbecoming of the uniform. I am very touchy of it too as I come from a very uniform base family being that my grandfather was a marine, father Navy, Little brother a Sheriff and I a Fire Fighter, Hopefully I didn't write it poorly and it coming across in a way that disrespects those in or have been in uniform.
You sir have my utmost respect for your time as a Marine and your character here on this forum.

 

[R/T_Fire]

It's funny because none of these fine gentlemen will have put me on their ignore list.
They would much rather get their collective panties in a twist rather than simply ignore me.
I'm also willing to bet that they blame ME for THEIR reactions.
So, as long as they're willing to give me that power I'll smile knowing how easy it
is to manipulate the emotions of idiots.

No we prefer to see the comments made behind the backs of other forum members that are actually here to discuss vehicles, life and what not instead of be an internet tough guy that are only here to start ****, and contribute nothing to the forum to be a positive place and not drive away members so this forum turns from a great forum to a ****** one....

If you have to put people here on your ignore list, maybe you don't belong on this forum.

And don't kid yourself, you have no power that you think you have... and the only thing we blame you for is trashing a good forum.

 

[AFMoulton]

@R/T_Fire, want me to share? LoL