Can I get an average? - Diesel Forum

lildevil02 · 11-15-2005, 09:13 PM

I have been contemplating on purchasing a new truck for a while now but I would hate to get into high payments. By high payment I mean that 300-500 is my range for payments. Anything else and I am staying with what I got.
I just was curious as to what the average owner is paying and what are most of you guys putting in as a down payment.

Thanks Gabriel.

OMCUSNR · 11-16-2005, 12:58 AM

Uhhh, lesee,

I put 2k down, got 1k in trade, & financed $27,700 for 7yrs. Monthly is $382. I ran it out to get payments under $400/month.

Interest was 4.1%

Truck costs me $23/day to own/operate (everthing).

lildevil02 · 11-16-2005, 10:45 AM

Thanks that is nice to hear, I did think it would be to easy to proce one for that low.
Any one else that would like to help me out.

BigGreenDiesel · 11-16-2005, 11:33 AM

Well, you won't like my story...Truck stickered for $49,369. I got it out the door for $40,643 with an extended warranty. I put nuttin' down (bad idea, I know) and payments are $645.03 [img]/ubbthreads/images/graemlins/eek.gif[/img]

OMCUSNR · 11-16-2005, 05:03 PM

Yeah, but what was your loan term for? You'll be done paying while I still have a year or tow left. It was a trade-off but it sure makes it easier to make a monthly.

I'm trying to remember what my MSRP was - seeems like it was about $39,900. Thats the most I've ever spent on a car / truck.

HATMAN · 11-16-2005, 07:36 PM

I will probably never do this again I traded my paid off 02 SC 4+4 7.3 with 52,000 miles It stickered around $37,000 & 10,000 for the truck in my sig it's stickers arond $44,000. I made one payment in full.It's nice to know the truck is paid for.

lildevil02 · 11-16-2005, 10:31 PM

My truck has been completely paid for since day one, [img]/ubbthreads/images/graemlins/biggrin.gif[/img] (thanks to my father) I would not mind paying for a new one but I just don’t want to make payments that are too high, or regret the decision that I make after a new truck has been purchased. I am thinking about a down payment of about 3,500. What do you guys think of this, my father thinks that it is crazy because he says that I will never see that money, but at the same time it brings my principal down while also helping my payments from getting out of hand.

(Note: MY truck is going to be a fully loaded to the Max F-250)

HATMAN · 11-16-2005, 10:50 PM

If you have 3500 to put down wait a month and you will have 4000 if you add the payment that you would have made,do this for a couple of months and you will know what it's like to make the payments and have larger down payment to put down if it works for you. You also have to think about Ins. tax & lic.

Reg Reich · 11-17-2005, 08:54 AM

Listen to your Dad. He sounds like a wise man.
[img]/ubbthreads/images/graemlins/biggrin.gif[/img] [img]/ubbthreads/images/graemlins/biggrin.gif[/img] [img]/ubbthreads/images/graemlins/warmsmile.gif[/img]

Reg

OMCUSNR · 11-17-2005, 11:12 AM

There is a delicate balancing act between money down and payments/term. The more you put in up front, the less your payments will be, but you no longer have the use of that money (which could have been making you money).

This is why leases are so popular. If you are not going to be heavily "personalizing" a vehicle or excessivly traveling (more then 12 - 15k / year) than a lease is a very attractive way to maximize your money's use. You're not putting a big chunk down, "payments" are usually moderate, and you (mostly) always have a vehicle under warrenty. No you don't own the vehicle, but what do you care? You only put down $2k, instead of $5k, leaving you with $3k of investment money.

At the end of the term, you look for another vehicle that meets your needs / lifestyle changes.

I leased several truck before this one, and it worked very well for me. This one I wanted to "personalize" as a towing vehicle, so I worked out the balancing act down/payments that worked best for me. It was a narrow race, but I won.

powerboatr · 11-17-2005, 03:30 PM

I had just one big payment of 26k
but the previous monster was 700 a month for 48 so it was expensive.
got a great trade and bought a new one.

lildevil02 · 12-04-2005, 01:55 PM

[ QUOTE ]
Well, you won't like my story...Truck stickered for $49,369. I got it out the door for $40,643 with an extended warranty. I put nuttin' down (bad idea, I know) and payments are $645.03 [img]/ubbthreads/images/graemlins/eek.gif[/img]

[/ QUOTE ]

What was your APR% like. and how long was your loan term for.60 or 72 months