Scottly
Senior Member
- Joined
- Oct 11, 2018
- Posts
- 1,207
- Reaction score
- 2,257
- Location
- Safety Harbor, FL
- Ram Year
- 2021
- Engine
- HO 6.7 Cummins
He's a suggestion: Find an amortization calculator online. Knowing your credit score, if you are above 700 you can almost be guaranteed to be at the lowest advertised rates for both new and used. Don't lie to yourself...If your score is lower, than plan on a higher rate. Plug in the interest rate for both new and used with **same-term** loans and see what the payment difference is on a used or a new than make a decision based on the resultant amounts financed. This will help you figure out the new vs. used question, **IF** you are a payment shopper. I see lots of suggestions about what it's worth at the end of the loan, etc...they all depreciate, so ignore that. (If you pay $70K and it's worth $30K after seven years, vs. if you pay $50K and it's worth $10K after seven years...guess what? You lost the same amount of money). If you want to compute depreciation, factor in the interest cost of those payments over the term of the loan and determine what the REAL depreciation cost is. Just my $.02...It's worth what you paid.