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post #1 of 23 (permalink) Old 06-20-2005, 03:30 PM Thread Starter
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Car advice

Ok, I am seeking input. Currently I drive a somewhat reliable, yet gas guzzing 98 dodge truck. No bells and whistles (roll windows, vinyl flooring...etc.). An airbag is its only safety feature, and it's only plus is that I can haul stuff, which I do enough, but not so much that I can't live without a truck. Truck's not paid off yet, but I easily make my monthly payment.

I am considering leasing a new vehicle, in addition to the truck. I would likely change insurance on the truck to theft only, since I'd use it very rarely. The payment is about equal to what I pay in gas each month for the truck. The additional benefit is I'd get to drive a super safe car, and have something to drive that's a whole lot easier to get around in. Plus it's a stellar deal on a car I have always really liked.

The downsides:
(1) making a truck payment for a truck I rarely drive
(2) adding another payment to my list of crap (will it ever end? will I ever get to pay cash for anything?!?!)
(3) having two cars and a bike to look after. I'm only one person, you know.
(4) giving up a big screen tv, which was the other way I could spend my summer cash.

I'm kinda on the fence. I'd like to do it, I CAN do it, but I don't have any really good arguments to talk me in or out of it....this is where y'all come in.
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post #2 of 23 (permalink) Old 06-20-2005, 03:33 PM
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dont lease "buy it"
screw the pick up sell that thing i remember you having problems with it, so its gonna come back again with an older truck.

get something pimp for yourself and enjoy being a young women.



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post #3 of 23 (permalink) Old 06-20-2005, 03:33 PM
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Why don't you use the truck as a down payment on the car? Leasing is cheaper than financing, but there are sometimes lots of restrictions so read the contract very carefully before you sign.

If I were you I'd get rid of the truck and get an economical car. You can find a good used Civic or Sentra that's easy on gas and reliable.

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post #4 of 23 (permalink) Old 06-20-2005, 03:34 PM
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get a 2006 mitsu eclipse and live life on the edge.



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post #5 of 23 (permalink) Old 06-20-2005, 03:41 PM Thread Starter
pfft.
 
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well two reasons I'm keeping the truck:
1) I'm still paying it off so I owe more than it's worth.
2) it's always good to have a truck around

I don't have any huge problems with it. I mean, it's got 80k miles-- it requires maintenance, that's all. It hasn't really done anything that's made me go "I shouldn't have to make this kind of repair..."

I have leased before and I like it. (1) you don't get into an upside-down situation and (2) in two years when you're sick of it you have no ties.
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post #6 of 23 (permalink) Old 06-20-2005, 03:42 PM
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yeah i would say sell truck and BUY a new car. Sometimes a vehicle sitting for periods of time is even worse for it.

<------ Jason
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post #7 of 23 (permalink) Old 06-20-2005, 03:47 PM
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in your case then, stay with the truck, your upside down?

the more and more you go in that route, your always gonna be fucked.

run it till you owe nothing.



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post #8 of 23 (permalink) Old 06-20-2005, 03:50 PM
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Agreed. Keep the truck. Pay it off as soon as you can, and walk into the next deal a little smarter. (trust me, I've learned all sorts of lessons the hard way!)

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post #9 of 23 (permalink) Old 06-20-2005, 03:54 PM
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Don't do anything. Pay the money your planning on leasing onto the truck everymonth and pay it off. Besides, insurance risk on the truck and the possibility of having to pay for it even if it were stolen, you're setting yourself up for a lifetime of being upside down on your cars. Which really comes into play when or if you have an accident or unfortunate theft

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post #10 of 23 (permalink) Old 06-20-2005, 03:58 PM
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listen to my man brian and EMR they know the game of pimp gear "when to and when not to buy"



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post #11 of 23 (permalink) Old 06-20-2005, 04:11 PM
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i'd say keep the truck and put the extra $ u'd pay on another vehicle towards it. but if you must get a new vehicle, y not get a mid size truck? they get quite good milage, and are quite less ragedy. Chevy now has the Employee discount for everyone, my Colorado gets 20+MPG city or highway..
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post #12 of 23 (permalink) Old 06-20-2005, 04:40 PM Thread Starter
pfft.
 
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Quote:
Originally Posted by bwa
y not get a mid size truck? they get quite good milage, and are quite less ragedy.
if I didn't already have a truck, I'd get a midsize. actually, had the colorado been available when I got my dodge, I would've gotten one....darnit!

I got my truck because at the time I couldn't afford to keep my mustang AND go back to school. The truck wasn't a bad deal, but basically any car you make payments on is upside down. I f*ing hate auto financing for that very reason.

Quote:
Originally Posted by bwa
Chevy now has the Employee discount for everyone,
which is exactly why I think it's time for a new Saab.
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post #13 of 23 (permalink) Old 06-20-2005, 04:50 PM
bwa
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Quote:
Originally Posted by ill_ag
if I didn't already have a truck, I'd get a midsize. actually, had the colorado been available when I got my dodge, I would've gotten one....darnit!

I got my truck because at the time I couldn't afford to keep my mustang AND go back to school. The truck wasn't a bad deal, but basically any car you make payments on is upside down. I f*ing hate auto financing for that very reason.



which is exactly why I think it's time for a new Saab.
Saab would be a ride!
I'd never lease anything though... but we already had this debate
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post #14 of 23 (permalink) Old 06-20-2005, 04:56 PM
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Pay off the truck (double up payments if ya can, you'll pay it off in no time), then park it and lease something nice. You'll always have a backup vehicle, and only one payment.


If you bought the truck used, look into refinancing the note on it. State Farm sold me a used car note for 5%, I was paying 7%. It was a difference of $50 a month, and shortened the note from 4 years to three!
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post #15 of 23 (permalink) Old 06-20-2005, 04:57 PM
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If you can afford a saab, then you really should pay off your truck then.

Me, I've buying 3-4k cars for the last five years, and get my money worth from them. I paid 2300 for a 97 malibu that had 90K on the clock and it gets 29 mpg. Now it has 122K and I just now had it a year, still gets 29mpg.

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post #16 of 23 (permalink) Old 06-20-2005, 05:06 PM
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Yeah, since you're upside down on the truck keep it, suck up the gas money, and put as much extra on the truck so you can pay it off earlier.

Then once its paid off use it as a down payment for a car. Yeah, its nice to have a car, but you're a college student. You don't need a car, a truck, and a bike. All that extra money could go into an IRA or investments.

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post #17 of 23 (permalink) Old 06-20-2005, 10:29 PM
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Quote:
Originally Posted by Crazy
Don't do anything. Pay the money your planning on leasing onto the truck everymonth and pay it off. Besides, insurance risk on the truck and the possibility of having to pay for it even if it were stolen, you're setting yourself up for a lifetime of being upside down on your cars. Which really comes into play when or if you have an accident or unfortunate theft
+1

Sometimes goodbye is your second chance.
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post #18 of 23 (permalink) Old 06-21-2005, 09:29 AM
freaking newbies, man there slow, ha ha ha
 
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So you want another car payment even though you already have one? That doesn't make a whole lot of sense.
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post #19 of 23 (permalink) Old 06-21-2005, 10:13 AM Thread Starter
pfft.
 
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Quote:
Originally Posted by CRAZe Inc
So you want another car payment even though you already have one? That doesn't make a whole lot of sense.
Now, that's breaking it down a little too simply. I mean, no one wants the car payment. I want the car. And it happens that while it may not be the smartest financial decision, I do make enough $ to afford the payment.
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post #20 of 23 (permalink) Old 06-21-2005, 10:23 AM
 
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Quote:
Originally Posted by ill_ag
Now, that's breaking it down a little too simply. I mean, no one wants the car payment. I want the car. And it happens that while it may not be the smartest financial decision, I do make enough $ to afford the payment.
Well then.....put that money towards the truck and pay it off, THEN get that car and park the truck.

It is THAT simple.
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post #21 of 23 (permalink) Old 06-21-2005, 10:34 AM
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Paying 2 car payments makes no sense financially, even if you can afford it.

So rather than taking your money and paying off a loan that costs you interest, if you get another car, you are getting charged interest on both loans.

In otherwords, +1 to what everyone said about paying off your truck first.

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post #22 of 23 (permalink) Old 06-21-2005, 10:34 AM
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Hello, my name is SloRoll and I'm an instantgratificationaholic. You may be suffering from the same affliction I am. Don't panic. There is light at the end of the tunnel. Be patient. Control your desires. Eventually you will run out of money and the afflicion will take care of itself. Just as death cures smoking.

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post #23 of 23 (permalink) Old 06-21-2005, 10:38 AM Thread Starter
pfft.
 
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Quote:
Originally Posted by SloRoll
Hello, my name is SloRoll and I'm an instantgratificationaholic. You may be suffering from the same affliction I am. Don't panic. There is light at the end of the tunnel. Be patient. Control your desires. Eventually you will run out of money and the afflicion will take care of itself. Just as death cures smoking.
finally someone who understands me. My motto is "i want it and I want it now!"
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