Do people really do this?

[jdgator]

 

[jdgator]

$966 a month for 84 months?

7 years?

7.9% APR?

 

[bobocat]

Everyday of the week!

 

[bobocat]

I work in an insurance agency and see parents get them for their kids. CRAZY!

 

[stringmusic]

I’m sure folks do, but you can go to about any ford dealership and get 15k off that price all day.

Also you can buy a new decently trimmed 4x4 crew cab truck under 40k out the door, Ford Chevy or Dodge

 

[stringmusic]

I’ve seen F250 crew cab 4x4 XLT diesels under 50k

 

[jdgator]

I’ve seen F250 crew cab 4x4 XLT diesels under 50k

That F250 diesel will probably still be working for you after 7 years. Pulling trailers and bringing supplies to job sites. For alot of guys that truck is a business tool, not a luxury.

 

[mguthrie]

This is why I'm rebuilding a 2000 model f250 crew cab 4x4. I'll have$ 25,000 or so in it when I'm done but it will essentially be a new truck. And paid for.

 

[Milkman]

The truck I drive now is a 2013 F150. I bought it after the original owner drove it 19,000 miles. I bought it for $10,000 less than he did a year earlier.
I have bought a few that way. I don’t intend to ever purchase a new car again.

I think most credit unions are still loaning for 1.9% if someone has decent credit

 

[Jim Thompson]

I am seeing 84 months almost every day now on all vehicles not just the high end trucks, although the 7.9 is high (the rate on the pic iin OP is just for reference). Most folks with strong credit and not carrying negative in are getting 84 at 5.9.

With the price of our new rides it is amazing that folks can afford 72...much less 60.

The manufactures are quickly pricing themselves out of new vehicle sales and with the average loan now being a hair over 6 years consumers are being forced to keep them longer than ever before.

It's a horrible cycle for sure.

 

[Big7]

I work in an insurance agency and see parents get them for their kids. CRAZY!

?ha ha.... You should see some of the young'-un's rides at George Walton Academy's K - through 12.

Hope they can adjust to the "real world" when they graduate..

It's an excellent skool' tho.. I think it's on the 3rd generation. # 2 wife had a kid in there when we were married. He made good.
STILL, $10,000 IN 96' - 97' MONKEY, THAT WAS A FORTUNE.

I'd still have a problem with that much $, even in today's money. ?

Heck... I wouldn't pay that much for a ride for myself. ?

 

[jdgator]

I am not knocking anyone who has the money and can afford a nice truck. No guilt intended! I just think that is alot of money if you have credit card debt or haven't started saving for retirement.

 

[zedex]

When I worked at an oil camp ( fort McMurray, Alberta), most of those guys keep brand new trucks. Big, expensive trucks. We would work 12 hours a day, 7 days a week for anywhere between 8 weeks to 3 months.

These guys would buy big diesel trucks with 4x4, duallies, extended cans with every imaginable option, 36in mudders, every piece of aftermarket bolt-on, ..... they would just go crazy.

Some would buy million dollar homes with a pool and garages equipped with every imaginable tool.

Life is good like that when the union mandated base pay was $45-70/hr. And then the overtime pay, double time, holiday...... some fellas were pulling a few thousand a week home-- after taxes.

The money flowed better than the oil.

$120K pickup truck was nothing for these guys. Of course, these guys all had a commonality...... they were younger. They've never seen or heard of a bust.

Right after Trudeau became PM, it came. These, once wealthy, guys found themselves unemployed, in debts far over their heads.

Back then selling a year old, barely used truck for $100K was easy. Try doing that when no one is working.

For myself, I never bought any of that. I had, still have, the same truck I brought up from Georgia.

Point being, just because you can dont mean you should. Keeping up with the Jones ain't as good as outlasting them

 

[Nicodemus]

That`s more than an average farm used to cost. More than I paid for my home too.

 

[bobocat]

We just had a guy purchase a 2020 Explorer Platinum. After taxes over $60k. I was blown away that any type of Explorer could cost that much.

 

[KyDawg]

The truck I drive now is a 2013 F150. I bought it after the original owner drove it 19,000 miles. I bought it for $10,000 less than he did a year earlier.
I have bought a few that way. I don’t intend to ever purchase a new car again.

I think most credit unions are still loaning for 1.9% if someone has decent credit

Milkman that is the only way I would consider buying a new vehicle. I try to find something with some warranty left on it.

 

[Mr Bya Lungshot]

The truck I drive now is a 2013 F150. I bought it after the original owner drove it 19,000 miles. I bought it for $10,000 less than he did a year earlier.
I have bought a few that way. I don’t intend to ever purchase a new car again.

I think most credit unions are still loaning for 1.9% if someone has decent credit

This^^^^

 

[dwhee87]

$966 a month for 84 months?

7 years?

7.9% APR?

That's why when my '06 F150 with 230,000 miles finally gives up the ghost, I'll take about 3-4 months worth of a payment like that and put in a new tranny and engine, and drive it another 250,000 with no car payment.

Crazy what they want for a new car these days. That's a dang house payment.

 

[notnksnemor]

I know a lot of people that don't care what the price is, just what the payment is.

966 X 84 = $81,144

You're upside down in that vehicle when you sign the papers.

 

[livetohunt]

I have the money to go buy one, but no way I would pay 80k or even 60k for a truck. I'll keep driving my 1998 Tocoma and 2009 Tundra until they get too expensive in upkeep.

 

[baddave]

I work in an insurance agency and see parents get them for their kids. CRAZY!

you know that is very prestigious when your high school kid has a new , expensive vehicle.. people will pay a lot for prestige