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Should I buy it

 
Old 02-13-2019, 07:18 AM
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Default Should I buy it

I currently drive a 16 Chevy Silverado 1500 LT 2wd double cab. The msrp on this pos was 41 I got it for 36k 72 month 6% 0 down I pay 640 a month no problem. Owned since 10/16

l want a raptor bc I have ********* and do you need a reason to want one?! So msrp 72k ruby red 802a for 67600 at local dealer.

I have not been to do the numbers but online calculator tells me payment about 1200 a month.
I would pay tax and dealer fee up front and finance the rest at 72 months.

I can easily make the $1200 payment but Iíd like to be more towards $1000. If I can get 1000/72 thatís msrp for the truck

Last edited by Kbeane23; 02-13-2019 at 07:22 AM.
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Old 02-13-2019, 10:54 AM
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Shop around. You can pay less than $67k for a raptor. Saw a few at Brandon Ford for $58k.
If you want it and can swing it comfortably....do it
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Old 02-13-2019, 04:27 PM
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Is the Raptor new or used? 2018 or 2019? What are they offering on your trade? 6% seems high to me. Your numbers don't jive. $67,600 at 6% for 72 months is $1120/mo. $1200/mo x 72 months = $86,400. Guessing that you are either young or have credit issues. My advice, wait until you can afford a large down payment. Financing a vehicle loan beyond 48 months is a bad idea. You will be forever upside down. Affording the monthly payment is not the same as affording the vehicle.
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Old 02-13-2019, 11:45 PM
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You try and trade that Chevy in and they will roll it into your new truck payment.

Wifeís old journey had a year left ($4000) owing. We traded it in since there were issues with the battery/alt/charging system. They offered $7-8k for trade in and would have been closer to $12k but we were still upside down.

Its not not worth it when your truck is 3 years into a 6 year term. Your $1200 payment will be higher than you think.
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Old 02-14-2019, 12:54 AM
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Betting you will be pretty upside down on your chevy... 2wd and double cab, not much resale value there.
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Old 02-19-2019, 04:58 PM
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Are you at least on step 4 or 5 here?

https://www.daveramsey.com/baby-steps/
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Old 03-06-2019, 12:08 AM
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Yea never roll your upside down debt into another depreciating asset.
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Old 03-07-2019, 09:36 PM
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Originally Posted by bobn View Post
Are you at least on step 4 or 5 here?

https://www.daveramsey.com/baby-steps/
I paid off my house first, did I do it wrong????
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