Economy is great! Half ton Ram $74k

[ryanh487]

What!? $74k for a Dodge Ram? How's it's owner going to be able to afford enough cheap beer to get a DUI?

ram owner here.

this is a whisky house.

 

[fflintlock]

I ain't never been into fancy stuff, only ever had 2 brand spanking new vehicles in my life. My wife's 2013 Ford escape has 43K on it. We'll hold on to it.
My 2000 Cherokee has 170K on it. I'd rather put 10,000.00 dollars in it for whatever repairs before I'd buy anything else. They've both been paid off for a long time and they ain't eat'n nothing.

 

[bassboy1]

Suppose you buy that truck and finance 70k.
Suppose you have perfect credit and qualify for 7.10% interest.
Your payments would be $1,197 a month over 72 months.


That is assuming you have about 8k to put down and/or trade in on your current vehicle.
That is also assuming you do not have negative equity on your trade-in that you need to roll into the loan.

In fairness, perfect credit is going to qualify someone for high 4s or low 5s right now.

But your point still stands.

 

[transfixer]

ram owner here.

this is a whisky house.

If I drove a Ram truck I'd have to drink the hard stuff too !

 

[jdgator]

In fairness, perfect credit is going to qualify someone for high 4s or low 5s right now.

But your point still stands.

Fair point. If we call it 4.9% then the loan goes down to $1124 per month.

how much do you need to bring home each month before this makes sense?

 

[menhadenman]

 

[menhadenman]

Fair point. If we call it 4.9% then the loan goes down to $1124 per month.

how much do you need to bring home each month before this makes sense?

Just stay at mom’s until it’s paid off and you’re 38

 

[bassboy1]

Fair point. If we call it 4.9% then the loan goes down to $1124 per month.

how much do you need to bring home each month before this makes sense?

Dave Ramsey says pay cash for your car, and have the combined value of everything you own with wheels or motors be no more than 50% of your annual income. So, for a single dude that doesn't own a boat or a 4 wheeler, $148k/yr.

TheMoneyGuy has the 20/3/8 rule. If you gotta finance a car, put 20% down on a 3 year note and have the payment be no less than 8% of your gross monthly pay. So that's 270k/yr.

I don't know who created it, but the 20/4/10 rule is more popularly known as the general rule of thumb. It requires $165k/yr.

And those all assume no spouses vehicle or anything. Get hitched, and you better start the numbers over.

 

[fflintlock]

If I drove a Ram truck I'd have to drink the hard stuff too !

My company bought me a new 2017 Dodge pickup, with the hemi. I drove it till February of this year, it had 107K miles on it when I turned it in. Never had any problems with it. I always thought it was a pretty decent truck.

 

[transfixer]

My company bought me a new 2017 Dodge pickup, with the hemi. I drove it till February of this year, it had 107K miles on it when I turned it in. Never had any problems with it. I always thought it was a pretty decent truck.

Its hit or miss with Ram trucks, depending on which drivetrain it has, the 5.7 hemi's have valvetrain issues, along with the 3.6's, and the oil coolers develop leaks on most all 3.6 engines, the 8spd transmissions have electronic problems ( dial shifter on dash) , the 2500/3500 trucks towing capacities are over rated, and if you add a tuner to one you will kill the transmission , they still have electrical problems related to the TIPM under the hood (which is a glorified fuse/relay box)

Of the big three they are generally the least dependable, even though Ford and GM each have their own problems as well

 

[HermanMerman]

My opinion that's what makes the Ford Maverick so popular. Can't build em fast enough. Manufacturers have made trucks more and more luxurious. Price had to go up too.

There’s 10k+ in the dash alone…giant LCD screen, Bluetooth, verbal commands…etc. all I need is a knob to turn the a/c on and am/fm radio.

 

[BeerThirty]

Y'all GON get hosed if you pay full list price...

 

[furtaker]

People dont care what the final price of anything is now because they are all payment shoppers. Whats the payment? Then of course when nobody actually pays for the thing it drives up prices. You can thank all the people living well beyond their means for this.

They gotta look cool to the stranger at the red light.

 

[slow motion]

Last new truck I bought was a 1st generation S-10. Always get 1 with a few years on it. Wife has had a few and currently has a new one. More important for her to have new and I don't have to worry about her. Me? Nah.

 

[livetohunt]

Prices on everything seem like they have doubled the last 4 years or so. Look at prices on vehicles, mowers, tractors, land, food, etc compared to 5 years ago, It's insane.

 

[Batjack]

Prices on everything seem like they have doubled the last 4 years or so. Look at prices on vehicles, mowers, tractors, land, food, etc compared to 5 years ago, It's insane.

Try eggs... they're almost 5 times what they were 4 years ago... went from 49 cents per dozen for large ... now pushing $2.40 in some places for just regular run of the mill rooster bullets.

 

[furtaker]

Cheap high powered rifle ammo like CoreLokts and Power Points were about $18 a box about 4 years ago. Now they're what, $30+?

 

[Kev]

New truck prices are stupid. I bought my house in 2022 for about 75k. I bout a new rav 4 in 2024 for 28k. Come to think of it, people are just stupid.

 

[LTZ25]

This country is so broke couples can't afford babies anymore , stop sending money to Ukraine and take care of young couples medical bills for new babies .

 

[Kev]

This country is so broke couples can't afford babies anymore , stop sending money to Ukraine and take care of young couples medical bills for new babies .

True. It’s very sad. You can thank the treasonist.