Trying to justify 50k for a new truck
The following 3 users liked this post by mkmona04:
The following users liked this post:
UncleG (02-26-2018)
02-25-2018, 02:46 PM
#44
Senior Member
02-25-2018, 02:54 PM
#45
Senior Member
That is too funny!! I couldn't let it go without saving the pic on my PC.
Is that a remembrance of those good old times? or it was probably a rarity? (wasn't in this continent around that time)
That thing is replacing a $50K truck, heck! back then, probably a $20K truck with class. Painted all black and with a coffin on the back even Dracula would've bought it!
Is that a remembrance of those good old times? or it was probably a rarity? (wasn't in this continent around that time)
That thing is replacing a $50K truck, heck! back then, probably a $20K truck with class. Painted all black and with a coffin on the back even Dracula would've bought it!
02-25-2018, 03:00 PM
#46
Don't "inflated" truck prices essentially work both ways - upon purchase and sale? You can pay equal amounts for new F-150s and BMWs, but when the time comes to sell in five years, the trucks will fetch far more than the cars.
02-25-2018, 03:07 PM
#47
If I was the op I would rent the banks money and at least leverage some of your cash, perhaps even speculate on a few investments..
The rented (loan) money is cheap right now, and used car prices are just as equally inflated as new car prices.
The cheap credit window is closing soon, and asset bubbles will begin to deflate, so get what you think you need now.
You can always pay the loan down at your earliest convenience, with or without your net gains from choosing to invest the cash..
At your age I'd rather be looking at it than looking for it.
The rented (loan) money is cheap right now, and used car prices are just as equally inflated as new car prices.
The cheap credit window is closing soon, and asset bubbles will begin to deflate, so get what you think you need now.
You can always pay the loan down at your earliest convenience, with or without your net gains from choosing to invest the cash..
At your age I'd rather be looking at it than looking for it.
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WildernessLVR (02-25-2018)
02-25-2018, 03:13 PM
#48
I'm 72 years old and living off of social security, retirement and money awarded in a medical malpractice suit when my wife died in 1987. If you were to see my house you might think I couldn't rub 2 nickles together but I have always driven a decent truck. I only have me and my miniature Schnauzer Harley. I'm not going to live forever so I may as well enjoy it while I can, right?
02-25-2018, 03:25 PM
#49
Originally Posted by BobStrauss
Don't "inflated" truck prices essentially work both ways - upon purchase and sale? You can pay equal amounts for new F-150s and BMWs, but when the time comes to sell in five years, the trucks will fetch far more than the cars.
Once interest rates rise, the market will very likely begin to deflate. Hurting values in housing, autos, tech, etc...
The fed did say they intend on 4 rate hikes this year, while trying to unwind 2 trillion from their 4 trillion balance sheet. This extra surplus in treasuries is going to have some trouble finding willing buyers without the rate hikes.
There's also good odds that non of that happens, and fed is bluffing as they remain the buyer of last resort. They may have just hiked rates more recently so there's at least a little more meat on the bone to cut again for the dismal future..
02-25-2018, 04:57 PM
#50
I think $30,000 is too much for a vehicle and would never even consider a $50,000 one. I paid $33 ish for an XLT with more options than I expected to get and certainly more than I need. I've always been cheap and don't like spending money. I financed to get a rebate and then paid it off in several months. I hope I can get 10-15 years of use from it like I did with my 2002 I had before it. I'm 40.
My dad bought a Platinum and I think it was mid $60s before rebates. He is 70 and retired. It will most likely be his last vehicle since he was driving a 97 Town Car. I thought it strange that he was willing to spend that kind of money on a vehicle. Then I remembered he is probably at the point where he should be spending what he saved over a lifetime.
My dad bought a Platinum and I think it was mid $60s before rebates. He is 70 and retired. It will most likely be his last vehicle since he was driving a 97 Town Car. I thought it strange that he was willing to spend that kind of money on a vehicle. Then I remembered he is probably at the point where he should be spending what he saved over a lifetime.