What is your truck payment?

Lies! you said 50

 

I put $30K down and paid $340 / month for 36 months

 

Never a bad idea, but it's not necessary.

 

actually $49 520

 

man some of your guys payments are sky high :/

 

342/month still yet to make the first payment. 3.31% for 72 months.

Got that rate through the dealer even though I did a short sale on a second house I owned less than a year ago

 

Wrote one fat check for the title.

 

Ya these prices are way high/low all around. Cool to see. I personally think people are too worried about paying the truck off fast and/or getting the best deal interest wise. Imo you get the cheapest payment possible that is not unrealistic. Then throw a grand or so DP to keep you a tad ahead of the game for a while, then use the money saved a month for something else. Too much money to be made in the world to waste on a high truck payment for a declining asset

 

Sticker price was 17k on my 2010 regular cab. I got a good quote on my 06 Colorado..81K miles and took good care of it, but after the top end of the engine went I didn't trust it.

Got the 1.9% so it's $201 for 60.

 

yes, but people rarely invest the money elsewhere. There is something to be said for being debt free. Cash flow is the key to any venture.

Declining asset or not, paying off sooner is beneficial. Regardless of the value, you still have a liability that eventually has to be paid.

 

Good points. In my case we bought my 2006 Colorado June 07, planned to keep her 96 Tacoma till the 5 years was up. Thing is a year later hers failed the frame inspection, we got lucky to find a good used Rav4 but still had a small payment. Went from $0 to $500 in less than a year.

That said, my wife is very wise with money. We paid hers out of my pay for my 2nd job that I got shortly after buying hers. Once we paid my truck off she began paying double payments on the swimming pool. Just wrote the last payment on that and will use that extra cash to help pay for heating oil this year plus my Tacoma payment.

And agreed, either way you do have to pay off your vehicle. I guess in that case the question is how much interest are you paying on that and other things..or can you pay something else off quicker and use that money to pay down something else?

 

$490/month for 48 months. .49% from Penfed.org and a good chunk down kept my payment reasonable. First one is due 15 Nov.

 

Cyber surety. Current IA Manager at Fairchild, since 2001. Had to use their on-line car buying service to get that rate. No issues at all.

 

What if you are a renter, have no credit card or other payments like that, and only have basic living expenses? More on one end of the spectrum granted but it happens. My wife paid off her old vehicle very fast when she was in that situation, only debt she had was her truck.

To give another angle, what if you live at home still? Even better, free or minimal rent.


For myself, I'm with you on that. My $200 for 60 is not going to be something I will rush paying off at 1.9%. I'd rather pay off other things:

Credit cards. Getting better with that but still no way I have 1.9 on that.

Mortgage. I already pay the extra payment each year and I am not house poor or upside down, but I'm not getting younger and would like to own it myself eventually.

House. Not a debt per se but if I fix things around the house, it helps keep the value..maybe helps with energy efficiency as well.

 

I thought it meant Fuck The World

 

Agreed, I'd much rather have my monthly liabilities to a minimum. To each his own....

 

How much did you get from you're credit union?