KYBuckeye

10% is a big assumption.

This premise also assumes that people actually DO make alternative investments to make up for loan interest rate. Too many times people "say" their money can do this and that in other places but the money never makes it to those other places. Investments fluctuate as well. Putting a large down pay,ent may not be the perfect financial choice but it's the most practical for the majority of people.

idrive

iTrader: (3)

I could reply with about 3 pages but the bottom line is every situation is different. Generally speaking any "new" car purchase is not a good deal. However the wants way more times than not outweigh the needs.

To everyone: Enjoy the heck out of your new toy and may it put a smile on your face every time you get in.

Iamraiderpower

Life is too short to not have what you want

FLSTFI Dave

If you can make more in interest on the 20-30K than your paying in interest then it makes sense.

acdii

This says it all.

To the OP I hope you have GAP coverage! If not, Get it! Been there, done that, saved my butt twice when my vehicles got totaled, which if I had not had GAP, I would have owed up to 20K between them.

When my 14 got totaled, I would have liked nothing more than an older used F150, but could not find one that fit my needs with low miles in the short amount of time I had, and since I had no plans to replace the 2014 at any time I didn't have a cache set aside for it. I still got a really good deal and with the tax refund from insurance(if you ever had a total, you know what I refer to), paid for the new topper and bed rug, and shocks.

Needs and wants. Needed low mileage truck since I put 120 miles a day on it, need a truck for towing my RC trailer and TT, and due to back issues, can't sit in a car for any length of time.

Wanted what I had, a Lariat. I tried an XLT, but wasn't impressed with the lack of what I am used to in the F150, or what my cars had. Would have been perfectly happy with the exact same thing I had, a RWD 501a, but couldn't find one, so settled on one of the two on the lot, the other one didn't have a console, and had a 2.7, which is too small for my TT, the one I got was a 502a, and it has more than I was looking for, but paying less than I did on the 14 for it.

84 months is a long time, 72 is long, but for me works out OK, I usually don't have the vehicle that long, which GAP seemed to take care of . Both vehicles that got totaled were to be my long term ones, I had no plans to get rid of either of them, and probably pass them down to my Daughter when she got her license. I tried the used route a couple times, but by the time it was paid off, it wasn't worth anymore than had I bought new due to the amount of miles I rack up.

Would I have done what the OP did? Not with this truck I have now, but if I were, it would actually be for a 2014 instead. The bells and whistles are nice on the 16, but overall I liked the 2014 a lot better, it just felt like a better truck, and the seat was way more comfortable. I loved driving that truck, not so much this new one.

Rosey17

I'm wondering if they did good for me on the trade in and the lariat price. The new truck will be 2017 f150 super crew, special edition, same colour, elec running boards, Sony system, spray in liner, brake controller and all the other lariat bells and whistles along with the 2 panel sunroof. Any advice or help is appreciated i signed the papers today. Pick up is in a week. Thanks in advance.[/quote]

It's tough to do well financially speaking when trading in/up a new vehicle that soon. I live in Alberta and had an experience where the dealership tried to get me to trade in my 2015 to a 2017. I'll give you some details of what I paid and what they offered me etc for comparison sake.

In 2015 I got my Lariat 500A supercrew 6.5' box, ruby red max tow (3.5 EB) all said and done including taxes, freight, dealer fees, accessories etc for $53,000 at 0% interest. When I brought it in for service about 5 months ago they said ' here just take a 2017 F150 to work instead of waiting for the shuttle' so I did thinking the shuttle was running late but anyways it was an attempt to sell me a 2017 Lariat 500A so I they gave me pricing on the new one ($65,000 window sticker - sell for approx $60,000). For my 2015 they offered me a trade in value of $34,000 (so a loss or depreciation of $19,000).

At the time of this offer I had the truck for 15 months and had about 21,000km on it. The dealership that made me the offer of $34,000 was the same one that sold it to me one year prior for $53,000. The first year is the biggest hit on depreciation and with me down $19,000 after just over one year I declined their offer (of course they tried to dress it up with the 'but it's only $'X' amount of dollars bi-weekly' pitch but I am happy with my truck and wasn't looking to trade in anyways). Sorry the post is so long winded but thought I'd share my experience - as long as your happy that's all that matters, enjoy the new Lariat!

steve-f150xlt

Thank you all for the advice and replys! I drive a heck of a lot also usually 200km per day or more. I figured I would trade it in while it was still newish and all said and done from what I paid a year ago and what I got on trade in the difference was about 10,000 however the difference in what I owe now and got on trade in is around $4000. I definitely think il enjoy the lariat much more since I almost live in my vehicles and I get to start over with 0km and do all the aftermarket upgrades I want. Luckily since I thought I may trade in mine I didn't do anything extra to it.

KYBuckeye

This is what's wrong with America.

Iamraiderpower

Yeaaa ok so my freedom of choice is what's wrong? Well then I don't want to be right. 'Merica

KYBuckeye

Your freedom of choice is fine so long as you can handle your debt. Not speaking about you personally but many people can't and saddle society with their debt. I'm not going to go into a diatribe about this. I just question the "live free or die" mentality. Cause 'Merica!