$89,000 for a new diesel pickup, how is it going to pay for it's self ?

[fordmantpw]

Maybe 10 years ago there were several with big SUV's and then gas prices spiked...

About half just stopped paying and had them repossessed.

Grandmother always said if you don't have the cash in hand... you cannot afford it.

Remembering this has saved me a couple of times!

You know what got me, is the number of people trading in big SUV's on smaller cars to 'save money.' Had they put the pencil to the paper, they would have realized that they were losing money on trade-in value to save money at the pump, not to mention the higher payments they were taking on.

As far as paying cash, on our last couple car purchases, I have actually taken the trade-in money in cash and put it in our ROTH IRA and took out the full loan for the car. The stock market was low, it was a good time to buy, and I was earning 3.5%+ in dividends (not counting the increasing stock value) vs. the 2% interest on the car loan. With that said, though, I HATE having loans so I paid them off as quick as we could.

 

[fordmantpw]

And if we think about it, when we buy something with all the bells and whistles don't we justify it by saying: "It will have better resale value with all this crap, and the 4wd, and the digital dash, and the (fill in the blank).....yes, you know who I am talking about. People like ME.

Funny you mention that. When I bought my '05 F150, the salesman tried to sell me a truck with a power seat. I said I didn't need it.

'But you will get your money back in resale!'
So, the option is $450, and you are telling me I will get all of that back at resale?
'Well, not all of it, but some of it.'
I tell you what, sell me that truck for the additional resale value that I can expect, which is about $50 according to NADA, and you've got a deal!
'Umm, sorry, we can't do that sir.'
OK, then, goodbye.



Oh, and I don't justify my purchases like that. I just say "that's the way I wanted it!"

 

[redprospector]

This is my thoughts on the mater.

http://youtu.be/wU-YMmUGrJ0

 

[aczlan]

My wife and I both drive vehicles with leather, and somewhat loaded. Our first vehicles were fairly bare-bones, but we have moved up. If you want the nice things in life and can afford it, then why not? It's the buyer's money, let them get what they want!

My wife and I both have vehicles that were purchased (used, paid cash) with leather seats.
Why?
Leather seats clean up easier, they are more comfortable, there is no real difference in price when we will be selling them, but they might help a buyer who is on the fence decide to buy it.

Aaron Z

 

[Scooby074]

Ouch! That's ludicrous!

Yup it hurts the pocketbook a bit.

You know the taxes themselves arent that bad, at least its going back into government coffers for roads, medical etc. The thing that ticks me off is like Dave said, we pay $10000 more for the exact same vehicle, one thats made in Canada! That aint right! I think it was the CEO of GM at the time who justified the higher Canadian price by saying we're a "preferred market".

In other words GM PREFERS to charge us through the A.

Its not just GM, but right across the board, from stereos to cheese. Thats part of the reason Target is failing massively since they came up here last year. People were looking forward for their arrival thinking they were going to undercut Canadian retailers and Walmart by selling at the prices people were used to when they went to Target in the US. Turned out they just offered the same stuff at the same price as everybody else. Shoppers are staying away in droves.

 

[redprospector]

For a crew truck I agree. But but for an owner/operator or somebody like me, that can spend more time driving than working on many days, creature comforts become more important. If I'm beat up from driving all day and I get that late afternoon call, I may not go do it because I don't want to get back in the truck. Obviously those things need to be weighed out. The truck I'm about to order, I made it very clear to the salesman my comfort is a priority. Clearly the amenities in the type of truck I'm getting doesn't rival a luxury SUV or pick-up, but they still add up.

Brian

Hahaha. Being an owner/operator has changed a lot since I quit the business. :laughing:
My last truck was a 1973 Kenworth W-900. For luxury/creature comfort items it had an a/c, and a 36" wide sleeper. I installed an 8 trac tape player, and an air ride seat. The seat being the most important. This truck didn't even have power steering, you didn't need it when it was going down the road and that's where it made money. Slow moving turns, and backing in was tough, but that was just daily exercise. I have spent as much as 6 weeks at a time in that old KW, and never once thought about not getting back in it...until I got completely out of it. They must pay you guy's better than they did us, back in the old day's. :laughing:

 

[3930dave]

My wife and I both have vehicles that were purchased (used, paid cash) with leather seats.
Why?
Leather seats clean up easier, they are more comfortable, there is no real difference in price when we will be selling them, but they might help a buyer who is on the fence decide to buy it.

Aaron Z

Used is a bit of a different story. Trucks may hold up a bit better, but from what I've seen, anywhere near a major market, used luxury cars are a dime a dozen. Bling factor wears off quick, and many people don't want to own a loaded-up luxury vehicle much past the warranty - too much to go wrong.

I know a guy who recently picked up a 10 y/o Audi A6 - great exterior, mint interior, 130k km for a little over $3,000 Canadian - about what the two sets of mint condition OE Audi rims that came with it cost. In used cars, you can get leather at essentially no cost, if you are willing to look for a bit....

On new, many dealers play the game that UR referenced "they all come that way", just to bump up the deal....

Rgds, D.

 

[ultrarunner]

I've had mine 12 years and the interior is as new... all the similar ones with leather started to show wear at about year 4...

2002 BMW 325iT with black Naugahyde interior... funny thing is everyone thinks it's leather... even when it was brand new and I was driving it in Germany.

Definitely right on few keeping high end cars past the warranty... no one I work with has kept a 12 cylinder BMW or Mercedes past the warranty and that goes for the Alpina b7, Cadillac STS and Porsche... most of the Docs simply lease.

 

[npalen]

circa 2024---Remember back in 2014 when you could buy a brand new dually for $90K? Can't find a decent used one for that nowadays.

 

[JDgreen227]

You know what got me, is the number of people trading in big SUV's on smaller cars to 'save money.' Had they put the pencil to the paper, they would have realized that they were losing money on trade-in value to save money at the pump, not to mention the higher payments they were taking on.

As far as paying cash, on our last couple car purchases, I have actually taken the trade-in money in cash and put it in our ROTH IRA and took out the full loan for the car. The stock market was low, it was a good time to buy, and I was earning 3.5%+ in dividends (not counting the increasing stock value) vs. the 2% interest on the car loan. With that said, though, I HATE having loans so I paid them off as quick as we could.[


What you say reminds me of what my dad did back in '74, he had just purchased a full size boat (Ford LTD with a 400 engine) and he was worried that they would begin gas rationing so after he had about 4,000 miles on the LTD he traded it in on a Maverick, taking a huge hit on the trade in AND paying near full sticker on the Maverick. And he hated the Maverick, he told me in later years it was one of the dumbest things he ever did.