Was wondering... what are folks getting in terms of length of loans? Rates?
I've been complaining for some time about the prices of these trucks. Thinking I'll pull the trigger on a Dodge or a Ford before '07, as my '91 will (sooner or later) begin to show its age.
Weighing the benefits of reworking the '91 vs just buying something new.
$450 a month is out of the question for a new vehicle payment. Going to have to try to extend loan length up to 8 years if I can, just wanted to see what kinds of deals folks are getting.
Thank you,
Mike
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- SOLD: 1991 F-350 XLT crewcab, dually. BTS E4OD. My favorite truck.
- NEW DAILY DRIVER: 2006 Ram 3500 SLT quad cab. 5.9L Cummins, 6-speed manual transmission, nav system, Jake brake. No mods, now or ever. 100% satisfied.
If you have to finance a new truck for more than 5 years, you can't afford it. It just doesn't make financial sense. (unless you get 0% apr)
You might consider buying a used truck. 00 to 02's can be had for pretty good prices (about 40 to 50% of new) and they are great trucks.
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<font color="red">A fly landed on my arm today. I smashed it with my hand. It's dead. I heard that flys land on poop and eat it. That doesn't sound like a good life, but I'm still glad he's dead. </font>
* Negotiate for the rig you want by telling the dealer you will buy the rig for $700 UNDER the invoice, PLUS subtract any incentives and they keep them. That should get you around $10,000 under the sticker, say $36,000 for a nicely setup one.
* Next, you tell them you want to LEASE instead of buying. That will knock your payment down to a respectable figure. After that, ask them what the payup is on the lease for your term (2 or 3 years). A paid up lease is much cheaper than paying it every month. Also, when you lease, you only pay tax on the lease payment not on the whole price. Then get a 2nd on your home for that amount and pay off the lease. In stead of paying on the truck, you pay on the 2nd mortgate and take the interest off your income tax. You can also deduct the amount of the paid up lease as well.
* At the end of the lease, you buy your own rig for 1/2 the sticker price or whatever is the residual amount on the lease agreement. Don't worry about the mileage clause on a lease because if you buy the truck at the end of the lease, you don't pay any penalty for the mileage anyway. You only pay a mileage penalty if you go over the annual mileage limit IF you just turn the truck back to the dealer. You have an agreed upon purchase price at the end of the lease that is usually 50% of the retail price, called the residual. Just buy your own truck.
In the end if you lease, you get a nice rig for about 1/2 the monthly payment that most guys wind up paying that buy. Also remember that for every $1,000 cash down, subtract about $25 off the monthly lease payment. Again, if you pay the lease up front, you will do alot better.
Been there, done this and it's the best way to go for alot of folks, even if you can pay cash up front, lease makes more sense.
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2002 F-350 SRW Lariat,4X4, PSD with too many goodies to list. 182k and a very strong 7.3. SOLD
2008 F-250, SC Lariat, 4X4,Shortbed, Pueblo Gold/black, V-10, 4.10, auto, Delivered on 9/7/07, great looking rig. South Texas bumpers front/rear, Air Raid Intake System, Diablosport Predator, Husky's, JJ's, Ford alarm/remote start, Marathon seat covers, Sirius, PIAA, Access cover, Weatherguard tool box, Rhino liner, Michelins, Duraflap mud flaps, Escort 9500i.
2007 Lincoln LT (wifer's grocery getter)
1996 Ford Bronco EB; almost stock
2007 Kubota 900 RTV diesel with goodies. pappy's truck
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5.3% for 5 years at Synergy Bank (Lending Tree found this for me and was the cheapest I could find anywhere)
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4.9% from 5 years from Ford Motor Credit.
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<font color="red">A fly landed on my arm today. I smashed it with my hand. It's dead. I heard that flys land on poop and eat it. That doesn't sound like a good life, but I'm still glad he's dead. </font>
5.19 for 48=278ish comm.bank
but i only needed 12000
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Mark D. Eddings brike@aol.com
2006-F250-PSD-SD-SC-SRW-LWB-MANHAND SHAKER
BORN 12:30am 6/7/05 PICKED UP 6/14/05
LIFE MEMBER NRA & NAHC
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4.9% from 5 years from Ford Motor Credit.
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Not on an 06....
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Oh yeah.
I still haven't figured out what's the difference from an 05 to an 06 yet.
Bold new graphics? [img]/ubbthreads/images/graemlins/shrug.gif[/img]
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<font color="red">A fly landed on my arm today. I smashed it with my hand. It's dead. I heard that flys land on poop and eat it. That doesn't sound like a good life, but I'm still glad he's dead. </font>
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VIN recieved 5/17/05. Truck on the dealers floor 6/15/05 
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