Ichthus
Well-Known Member
Won’t be upside down as the $45k truck will be paid for...but yeah, life can change. Personally, should that change happen, I’d rather have a sellable asset than a 3 year commitment on a lease, whether I’ve made a down payment on that lease or not. As mentioned earlier, I also don’t want to ration my miles, or be concerned with a post-lease inspection that could cost me thousands.I believe it'll be tougher to buy outright or payoff rapidly on a 55k truck than it would be on a 28k truck. You could very well risk a lot if you end up upside-down after 2-3 years and your lifestyle changes/you have a need to get rid of this truck.
For me at least, I don't want to use my disposable funds to make a purchase of this truck with any more than 5-6k in down payment. No one wants to pay interest, but life happens, and gone are the days where the majority can just straight up purchase these things in cash for a couple grand. Doesn't mean I can't afford it, in fact, it's the opposite. I feel like I can do better keeping some of my money in the market at 8-10% and finance my vehicle at 4%. Depends on your lifestyle, but I see more people leaving money in a savings account doing nothing than I'd like to in my line of business. Either way, put that money to use!
Many ways to achieve peace of mind with our decisions...I’ll definitely enjoy this truck more knowing that it’s mine, than spending 3 years being responsible for a long term rental. During that time, I’ll be investing my “monthly payment” to help pay for the next vehicle. If Jeep holds to its pattern of increasing MSRP about $500 per year, the sticker on a comparable Gladiator in 3 years will be over $51,000, which means that people looking to buy a 3 year old truck probably won’t flinch at paying $42,000ish. Maybe that’s a best case scenario, but it plays out to me actually losing less than $200 per month, including taxes.
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