How will you pay for your truck?

[starrsRN]

I'm hoping by next spring I'll be in a better financial situation as well. I'm working 7 days a week until then. To me this truck is everything I've dreamed about. From doing manly stuff in the great out doors to picking up a sheet of plywood I'm already sold on it. I think I like it so much because it's unique and it's the only truck of it's kind. I like something that's different.

I agree 100% with everything you said, but dipping into your 401k at 27 for a gladiator would not be good. Cool truck...yes....any vehicle cool enough to change your financial outlook? Definitely not. I’ll buy when I have the cash. Takes some serious willpower for sure haha.

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[Rex3rd]

I agree 100% with everything you said, but dipping into your 401k at 27 for a gladiator would not be good. Cool truck...yes....any vehicle cool enough to change your financial outlook? Definitely not. I’ll buy when I have the cash. Takes some serious willpower for sure haha.

Yeah I get your point. If I saved and cash I would probably have it when I actually do retire ha ha good thing a hoveround would fit in the back but how would I get the dang thing down at 70 years old lol

 

[IWantAJeepGladiator]

Plan to use as much cash as possible, but wonder how that will affect how good of a "deal" they give me...

 

[Moabite]

As much as I hate to do it, I'll probably sell my Scrambler. Between that and selling/trading my GMC Canyon, I should have nearly $50K to put down. But if the Gladiator is outrageously priced, I'll pass.

 

[starrsRN]

Yeah I get your point. If I saved and cash I would probably have it when I actually do retire ha ha good thing a hoveround would fit in the back but how would I get the dang thing down at 70 years old lol

My point being I’m stuck in the position of do I splurge for this super cool truck or do I get my house paid off? I’m 33 and I really don’t want/need a 50k dollar truck, but I’m intrigued. That’s why I’m here haha. I know I can afford it, but I just need to decide buy now or wait.

 

[steffen707]

59.5 no?

From a 401k it's 55, Ira is 59.5

 

[steffen707]

I'm allowed to take half the amount that's put in. Have to pay it back in small payments on your check and pay interest but the interest goes back to your 401k...no where near 55. I'm 27, but determined to get one by at least spring of next year .401k pull is a last resort effort lol

So a 401k loan? Up to 50% of your 401k value or $50,000 whatever is higher I believe is the rule. Nice.

 

[Onebigyoshi]

I'll probably put 5% down on a promotional points/miles credit card and finance the rest. I like my odds in market return compared to 3% vehicle interest rate.

 

[5JeepsAz]

I'm waiting for the "Thanks America" plan.

You know the one where auto and bank industry says thanks to hard working people who pulled their freight during the crisis while they lavished themselves with jobs I paid for through higher taxes.

Yeah, that "Thanks America" plan.

The one where I get Zero Down Zero Interest for the life of my loan.

And they kiss my ass for the privilege of my business.

#AmericanMomsNotFeedBabiesBecauseYou
#YeahEatMe
#ThanksAmericaZeroDownZeroInterestJeepTruck
#GoRightAheadDeleteThisStillTrue
#Remembered

 

[drogers]

I'm waiting for the "Thanks America" plan.

You know the one where auto and bank industry says thanks to hard working people who pulled their freight during the crisis while they lavished themselves with jobs I paid for through higher taxes.

Yeah, that "Thanks America" plan.

The one where I get Zero Down Zero Interest for the life of my loan.

And they kiss my ass for the privilege of my business.

#AmericanMomsNotFeedBabiesBecauseYou
#YeahEatMe
#ThanksAmericaZeroDownZeroInterestJeepTruck
#GoRightAheadDeleteThisStillTrue
#Remembered

Uhh, those 0% loans were around for about 7-8 years after the '08 crash, but I don't think they were a 'Thanks America' plan...

 

[smlobx]

Bitcoin of course!

 

[JTRUBI]

Uhh, those 0% loans were around for about 7-8 years after the '08 crash, but I don't think they were a 'Thanks America' plan...

I see GM, Honda and Toyota offering 0% financing pretty often, but that might be a Canadian thing.


My plan is put half down and finance the rest, but the rates on Wranglers are horrible so I might just buy it cash. Depends what happens at the time I put my order in for.

 

[steffen707]

Yeah, Chrysler was offering like 4.5% financing for my Pacifica......Thanks?

 

[Tortooga Custom Works]

I see 0% financing a lot - but usually it means no discounts whatsoever. My cousin just got a 2018 Silverado 1500, and they had a 0% financing offer. But at MSRP. After doing the math he took a loan with interest, but he was able to qualify for like $10k in discounts. That option saved him a good chunk of cash, over taking the 0% loan.

The lowest interest I've ever had was 0.9% on my 2014 Ford Transit Connect. They were only offering that on 24 and 36 month financing...

The point is, and someone said this already, you need to do your homework on financing before you get to the dealership. Meaning that you know, before you even walk in, if you will be using their financing (probably not) or you're own that you already secured before walking in.

 

[Gladiator4Runner]

Paying cash....as soon as I can pay off the dealer financing to get the best deal possible. I'll put down as much as I am allowed. Sometimes they make you keep financing for a few months before paying it off but I'll do the math to figure it out.

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