Home Forums Hunting & Shooting Hunter's Campfire New truck prices?

You forgot the cash flow part?

It ain't cash until it has been received as income. Most likely, after it has been taxed.
Future earnings are not counted as cash today. They are projections.
Good luck if that flow stops. Nothing is guaranteed. Watch the number of defaults we are about to see.

The auto finance sector has been in a bubble for some time. With the recession there will be a lot of defaults. People will pay rent before the car payment.

Yep.
And food/phones/booze/smokes/scratchoffs before rents.
It was difficult getting rents when times were good! So I bailed from real estate years ago.
Cash for vehicles. True freedom.

Did you pay cash for your house?

Just because you can pay cash,, doesn't mean its the wise thing to do! Thats so easy a cave man can understand it also! Hell buying a new vehicle, isnt the wisest thing to do! Losing 10 to 20% of value the first day you drive one, whether paid for with cash or not, isnt real wise!! If you own a business and have advantages might work, not for personal use!

The only way to make the truck prices come down is to quit paying the high prices they want. As long as idiots go down and pay $50,000+ for a truck then that is what they will charge. Make those trucks sit on the lots for a year and you'll see the price come down because they can't get stuck with the inventory or they have to pay taxes on it. As for me, the last new truck I bought was in 2002 and it was a stripped down Ford Ranger that only cost me $7011 total. I drove it until Oct 2019 when a fool texting and driving totaled it. I bought a used one to replace it. I also have a 2006 Ford Super Duty diesel that I bought used in 2010. I for one REFUSE to pay what they want for a new one. I also don't want a truck as fancy as they want to force me to buy. I like plain trucks and I like them with a manual transmission and they don't even want to offer me stuff like that. I don't need or want a Cadillac with an open bed which is what new trucks are.

If you don't want to pay the price for a new one, don't.

Lets use a simple example....

Say you have a $150k mortgage on your house at 4% interest.

You have saved $50k for a new truck.

The dealer has 0% financing on a new truck

The smart plan would be to buy the truck on credit and use the $50k to pay towards your mortgage, the numbers look even better if instead of saving the $50k you payed towards the mortgage as you went.

You would save 4% , now compound that and you have some real money.

Or you could pay cash for your new truck...... hmmmm

So it's not so black and white.... a million ways to skin this cat and everyone's needs and situation is different

84 month 0% on new Fords

No kidding? Wow, that's insightful!

The one I'm in now, yes. Don't worry, 401's and IRA's fully funded and still getting contributions.
Never bought a NEW vehicle until a previous home of mine was paid off, and then paid cash for the vehicle.
Funny, it is not so hard to save and then "loan" yourself money! LOL

Was thinking about getting a new sled then the virus hit. Ski Doo is offering an additional $500 on top of other incentives for snowcheck sleds, I imagine car manufacturers will be doing something similar, incentivewise..

What's missing here? The fact that USED is the way to fly until the roof over your head is owned fully. I have owned more outright pieces of crap that required a handy toolbox daily than Carter has liver pills.

This nationwide desire for latest-greatest in vehicles is what drives folks to bankruptcy and a life of debt.

Thank God my parents and grandparents taught me to go out and get dirty fingernails.

Dave Ramsey recommends you should not buy a new car until you are a millionaire.... I like Ramsey

Ok got it, let me rephrase the question, have you used a mortgage to buy a house?
It's easy to pay cash for a house when you sell a paid for house.

Mortgage on the first one. Ten years, done.
That was after an Army hitch and college. No loans there either. Worked. Paid as I went. And paid the mortgage fast. And drove embarrassing pieces of chit. Never had one stolen, broken into or had to pay outrageous insurance rates.

The home I'm in now we bought while living in another house paid for. Rented it out a few years when we moved here. So, there was no 1031 exchange or rolling over of sales proceeds.
We saved up for it.

WTM45,
You are a very disciplined saver, congratulations. Most could learn from your example. Well done

There have been LOTS of sacrifices. YEARS without vacations. Never been to Disney. LOL
I'm on my knees daily, thankful for my health and blessings received. I try to give when and where I can. But not to banks or lenders!

Not in my retirement home yet. Soon as we can, after taking care of our elderly parents, all money will buy a farm to be passed on to heirs and family. Wont be in this tax-gulag state I'm in now.

If I can make ONE suggestion to folks, it would be to STAY AWAY from car dealerships.

Understood, I have done much the same. I drove a 1970 Chevy 4x4 for 20 yrs. I was able to rebuild everything on it including the engine over the years.
Last month I bought my first new vehicle a Ram 3500 with a Cummins and a 20yr 200K warranty, I am 58 so it should last me forever.
Hard to change old habits though, I bought the tradesman package, $10 to $20K cheaper than the fancy models, yet still fancier than anything I have owned previous.

Tesla has the right idea. Get rid of the middleman crooked dealers entirely. Buy the car from the manufacturer. Unfortunately most states have laws preventing the manufacturers from firing their dealers.