What car do you drive and what do you pay per month?

[YY1]

How? How did financing save money compared to a cash purchase. (Unless you got a huge discount/rebate FOR financing!)

That's exactly it.

1- Dealerships do not want you to pay cash for a new car. Sales gets kickbacks from finance for referrals (or something like that).
2- Sales and finance don't apparently talk to each other and don't expect anyone to do what we did.
3- As I said, we checked the details. Could not put more than 50% down, and had to make at least three payments over three months time. Super small amount of work and homework to save almost 2K (IIRC it was 1980, the minus the actual interest of 30).

 

[cr8crshr]

Zip, NADA, Zilch!!! I own both of my vehicles: a 2010 Ford F150 XLT 4X extended Cab, 135000 miles, and a 2013 Ford Escape SUV SE Ecoboost with 82000 miles. I owned all of my rides, including my collector cars. Yes, I did do financing when buying in the past and stayed away from the dealer financing in favor of my bank/credit union. I kept my monthly payments the same throughout those purchases and never exceeded 300.00/month. I also made more payments to reduce the principal which cut the loan time down significantly and the principal balance, so the interest rate was not a lot. These days the payments so many now contract to, are FOOKING insane!!! And for what I ask??? The latest, greatest, newest machine to drive!!! Makes no sense and just shows that many people have more $$$ than common sense and as a result, they put needs and wants where the wants overtake the simplicity of the need!!! Hell...It's just a conveyance to get from point A to point B...cr8crshr/Bill

 

[Hey-O]

It takes a lot to make me feel like a financial success, but that video did it.

Good for you and you're right, you are a financial success. It's not always what you do, it can be about what you didn't do. Those people that spend 1500 a month on a car wouldn't dream of putting that into a retirement account, that's a waste of a good money and time.

 

[Hey-O]

That's exactly it.

1- Dealerships do not want you to pay cash for a new car. Sales gets kickbacks from finance for referrals (or something like that).
2- Sales and finance don't apparently talk to each other and don't expect anyone to do what we did.
3- As I said, we checked the details. Could not put more than 50% down, and had to make at least three payments over three months time. Super small amount of work and homework to save almost 2K (IIRC it was 1980, the minus the actual interest of 30).

That's being a good steward with your money. I did just that with my Durango. I said cash and carry, I consider having the money and paying it off within three months, cash. We're the odd ones that they don't see doing that everyday. I did mine in 2019 on a special promotion offer.

 

[YY1]

What's really funny is that was the second hyundai dealership.
At the first one, the sales manager in so many words, told us we didn't know what we were doing financially, and advised us to "diversify our holdings", as if we only had "cash in the bank" as some sort of life savings, without bothering to ask.
We actually said, somewhat loudly, as we walked out the door "I guess someone else will be more interested in taking our money".

 

[Hey-O]

What's really funny is that was the second hyundai dealership.
At the first one, the sales manager in so many words, told us we didn't know what we were doing financially, and advised us to "diversify our holdings", as if we only had "cash in the bank" as some sort of life savings, without bothering to ask.
We actually said, somewhat loudly, as we walked out the door "I guess someone else will be more interested in taking our money".

Years ago I was buying a grand cherokee. I told the finance guy I was putting 15,000 down. He goes into this ten minute speech on how to invest that money and finance with him. When he got done, he looked at me and asked, now, how much would you like to put down. I said
20, 000. He said, weren't you listening to me. I said, weren't you listening to me and we got up. He said where are you going, I said, to a dealer that knows how to listen.

 

[YY1]

I guess what nether of those twerps realized, was that the 15 or 20K we were going to hand over to them before they talked either of us out of it, was not our entire savings, but instead, a portion of what we gained by actually investing and managing our money in apparently a MUCH BETTER way than they had.

 

[turbine68rt]

rust free 02 Dakota......runs like a new truck.....does everything I need it to.......paid for lol

'04 Dakota SLT Quad. Looks and runs like the day I got it in '08.

 

[eldubb440]

'04 Dakota SLT Quad. Looks and runs like the day I got it in '08.

I'm in love with mine....... small v8, jasper 4.7; 4wd, and a back seat for the boy!

 

[Budnicks]

For the past 30 or so years I pay cash for what I own
house/s, cars & trucks, credit cards are paid of monthly too
some I'll carry a balance for 2 months just to help credit rating

At one time I had 15 company trucks on lease, at $350 each
Chevy, Dodge/Ram & Fords
all had full maintenance coverage with the deals, I bought fleet prices
from the dealerships, I did a lot of work for,
next time it came up, I paid cash for each when the time came,
to trade them in after 36 months or 36k miles which ever came 1st...
Each truck was spread out about, over about a year & a 1/2 for all 14,
so the lease ends, were at different times...
The 15th my personal 'lead truck'
a 1995 Dodge Power Ram Ext Cab 4x4 w2500 12 valve 5.9ltr Turbo diesel, 5 speed
I kept, & paid off, it was highly modified, lifted & big tires tow stuff
& I went way over milage for the lease, so I just paid it off

I haven't had a car payment since
(next I bought a new in 1998 w2500 Power Ram 4x4 after that too)
all write off as expense, construction & facility mngt business

My 1999 Dakota SLT 4x4 Magnum v8, has about 61k on it now,
it's my Daily Driver, I inherited a 1997 Buick LeSabre with 12k miles on it
from my Granddad's estate, loaded like new, shortly after
I traded that in on the 1999 Dakota, & like $5k cash...

The 2020 Jeep Gladiator Rubicon Launch Limited Edition,
traded in the 02 F350 4x4 Dually PS Diesel 6 speed,
sold the trailer for cash, for a fraction of what it was new, they age in dog years
even if near perfect condition & a Jayco 5th wheel travel trailer,
(I paid when new, for the F350 Dually 4x4 & 5th wheel trailer $86k cash, for both)
in a round about way.
In on A 2022 Ford Maverick AWD midsize truck
traded that in on the Jeep Gladiator for my dad to drive
it has 15k-ish miles now, not driven much, dad's not real mobile now
The old tow rig with 160k miles & $41K (it was listed at $52k & change)
was about what I had in it, dad didn't like the 22 Maverick, it was too low,
he didn't like driving it at all...
I took it on the shorts on that stupid decision, made him pay the difference
like $12K upside-down...

I love my lil' Emerald Green & Silver Gen 2 Dakota, great style & perfect size
it's been a great truck, has a bunch of lil' bolt-on, Tuner mods to perk it up a bit...
I live in the Sierras...

Had this Maverick AWD for a very short period, bought it because I wanted dad in a smaller truck
long story, traded it in to get the Gladiator after 2 months, lost my shorts on that deal
dad had to have it... I wanted the Gladiator but he was gonna' be the principle driver
& this would be his last vehicle more than likely, he's 88 now, so I relented...
He should have listened to me...
Would have saved us both some cash...
It all worked out, with the Gladiator...

My 1968 RR, paid cash for Dec. 2005, had 67k org. miles on it,
from the daughter of the org. owner & her husband, I'm the third owner
but it was kind of rough, all of it was there, but needed attention,
$6k for a running driving almost completely rust free Calif. car, 1968 RR RM23...
( I thought it was a great buy at the time )
I have a small fortune in it now, not driven a lot, mostly on week ends,
when the sun is out, & usually just locally too, it doesn't see any rain or snow now...

 

[kiwigtx]

I run a 1998 Toyota Hiace van for work.... 4-cyl diesel with A/C and central locking and 'fizzy windows'. Owned it over 18 years now and it is very reliable considering its age. Other guys keep saying get a new van.....nope. I don't want a new van and all the drama ad cost that goes with it.

Tax breaks and write-off value don't sway me. You still have to earn enough money each week to make payments and then start making money for yourself. The guys with flash new Ford Rangers were all squirming a while ago when work dried up.....still have to make those payments on a virtually zero income.

That's where I have the advantage. I was at my Supplier's one day and I said to the Manager "I'm probably the only guy here who owns their vehicle."

 

[Dennis H]

WTH is a Toyota Hitachi? Need picture.

 

[moparwacko]

WTH is a Toyota Hitachi? Need picture.

It's a plain white Perv van with a charcoal grill option.

 

[kiwigtx]

It's a plain white Perv van with a charcoal grill option.

Photo Courtesy of the New Zealand Road Safety Photographic Society.

 

[Richard Cranium]

1,500 clams a month for the 3500 Ram, funk that!

 

[padam]

I run a 1998 Toyota Hiace van for work.... 4-cyl diesel with A/C and central locking and 'fizzy windows'. Owned it over 18 years now and it is very reliable considering its age. Other guys keep saying get a new van.....nope. I don't want a new van and all the drama ad cost that goes with it.

Tax breaks and write-off value don't sway me. You still have to earn enough money each week to make payments and then start making money for yourself. The guys with flash new Ford Rangers were all squirming a while ago when work dried up.....still have to make those payments on a virtually zero income.

That's where I have the advantage. I was at my Supplier's one day and I said to the Manager "I'm probably the only guy here who owns their vehicle."

They are bringing Hiaces into the US now. I’d love to have one but they’re all right hand drive.

 

[Charles Cook]

I pay zero for my daily driver but I do have to pay my body shop a dollar or two every now and then. Damn pole.

 

[Scott Engelhardt]

I have used Ford financing .9% several times. I keep my money earning good interest I pay off in 24 months. I never borrow more than I would be unable to pay off if needed

 

[69 Sleeper Bee]

1,500 clams a month for the 3500 Ram, funk that!

I draw house plans and most of the builders I draw for have brand new full size.. King Ranch / High Country / Denali Ultimate / Long Horn..etc.
All are over 100k and the payments are at least $1500 or more a mo.

 

[NoCar2023]

My 2022 Denali HD was paid off last year. The monthly payment was $1,170, my truck allowance is $1,100. On March 11, some asylum seekers stole it along with $10,000 worth of tools.

I purchased this vehicle shortly after my HD was stolen. I paid cash, but financing would have been $950 per month.
It's a 2023 1500 Mini Max, $49,000 cash with 17,000 miles on it.