Little help here

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aaronrules

aaronrules

Coolest person you know!
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I am posting this knowing full well that benc will probably see this.

He has his 100 up for sale. When I think of my dream 100, that one is it...except I would like a newer model and skid plates, but those are minor things.

Here's my quandary...and I may have asked this type of question on here before, but I really value this communities opinion. What is keeping from buying it? I will have to finance it. I have the credit to do so. Plane ticket is cheap enough to fly out and drive back.

I need unbiased opinions either way. I am not saying that you guys are going to make up my mind, or that I an even going to actually buy it, but I need to hear real world opinions.

Thanks guys.
 
Tough.

Two trains of thought-
1- you only live once so enjoy life as much as you can.
2- as Dave Ramsey says live like no one else so you can live like no one else ( he means debt free, retire early, large savings etc.)

That said, I hate car payments. It enslaves you to the system. If it's your dream truck and you can get it for less after financing than what you'd put into making yours that way, it may be ok to do. But I'd only want a 3 year note, no more, and try to pay it off asap. Rates are pretty low now though so the interest you'd pay is minimal , assuming you have good credit for the low rates. Just make sure you don't shortchange anything else in life, only you can answer that.

Hth.
 
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arcteryx said:
Tough.

Two trains of thought-
1- you only live once so enjoy life as much as you can.
2- as Dave Ramsey says live like no one else so you can live like no one else ( he means debt free, retire early, large savings etc.)

That said, I hate car payments. It enslaves you to the system. If it's your dream truck and you can get it for less after financing than what you'd put into making yours making that way, it may be ok to do. But I'd only want a 3 year note, no more, and try to pay it off asap. Rates are pretty low now though so the interest you'd pay is minimal , assuming you have good credit for the low rates. Just make sure you don't shortchange anything else in life, only you can answer that.

Hth.
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Man you gotta quote Dave Ramsey...he does have good advice.
 
Here are my thoughts as if it was not my vehicle for sale.

You say you were wanting newer?
What are the main reasons?
I went back and forth with this when I purchased mine, the main reason I went with the 2000 was due to no navi and first year with the rear ac and atrac.
However the 03 and up have the five speed which is a big improvement over the 4speed.
They also have an updated interior.
Do your research and weigh out what is most important to you.

Some may think the price is high but if it's what your looking for and you would build something similar if you were to build one than price out the mods and stock vehicle cost to see what it would cost you, vehicle cost and parts alone cost me around 29k!
If your not comfortable getting into that much debt than don't.
In the end it comes down to what you plan to do with the vehicle and of the mods fit your needs.
If it's not exactly what you want don't settle, keep searching and you will find the right one.
Good luck!
Hope this helps.
 
You can add skid plates easy, you can't make it a newer model, so is it really your dream truck?

While I like Dave, current interest rates are super low. I'm earning considerably more, so I'm inclined not to use my harder working capital to pay cash for a truck.
 
camino70 said:
You can add skid plates easy, you can't make it a newer model, so is it really your dream truck?

While I like Dave, current interest rates are super low. I'm earning considerably more, so I'm inclined not to use my harder working capital to pay cash for a truck.
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Interest rates are low, sure, but can you get rates low enough on a 2000 Model Year vehicle to make the interest insignificant? That's always been my issue with financing used cars. New cars? Sure, you get killer rates, but the depreciation hurts. Used beyond the depreciation curve seems to get you 5+% interest which is a deal breaker for me.
 
Well...we will see if the financing goes through sometime tomorrow. If so, and the other guy doesn't want to higher, i may have my dream ride! And it will get paid off early.
 
suprarx7nut said:
Interest rates are low, sure, but can you get rates low enough on a 2000 Model Year vehicle to make the interest insignificant? That's always been my issue with financing used cars. New cars? Sure, you get killer rates, but the depreciation hurts. Used beyond the depreciation curve seems to get you 5+% interest which is a deal breaker for me.
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If you or your family is US military, check out USAA, if not check out PenFed.org(it will cost you a donation to a military organization to join). They may not list it specifically online, but you can get more loan $ than you think for interest in the 2's (5's is still cheap money to me).
 
camino70 said:
If you or your family is US military, check out USAA, if not check out PenFed.org(it will cost you a donation to a military organization to join). They may not list it specifically online, but you can get more loan $ than you think for interest in the 2's (5's is still cheap money to me).
Click to expand...

I am a member of USAS but they won't allow these kind of loans anymore.
 
If you have solid credit, try Lightstream.com it's a financing division of Southtrust Bank. Their rates are very low/ competitive and it's unsecured so you keep the title.
 
+1 for Lighstream.com Used them for my last 2 car purchases and they gave me an amazing rate, fully unsecured. I don't know anyone else doing that.
 
I applied last night thru Lightstream. Supposed to hear something today.
 
pros and cons. by buying from a MUD'er, especially one who we all believe (or know) to be mechanically inclined, it would be fair to assume that the vehicle was well maintained. on the other hand, you know that it was taken off road, and there is photographic evidence to back that up, so it may have seen more wear/tear than a pavement queen LX. just my $0.02

but it sounds like you've already decided. it's a great looking truck, and you will have some nice bumpers!
 
The fact that a vehicle was used offroad, especially by a member of this community, is actually a plus in my book. You know it was taken care of, maintained, cared for and built correctly.

Just because a dealer says it was owned by a little old lady doesn't mean it was properly cared for.
 
I appreciate everybody's opinion, but it looks like it isn't in the cards this time. I still like the idea of buying off of someone on here, but I either I pull some extra cash out of somewhere, or stop looking at fully built rigs. Even LightStream wouldn't finance the full price...looks like this guy will looking at building one up.
 
Building it yourself is half the fun and another one will come along. I got an Autotrader alert today for an 04 LX with 13K miles on it. It was sold by the time I contacted the dealer and they wouldn't disclose the price, but goes to show there are some unicorns out there.

If you're patient and picky, the right truck will come along, and if you start banking payments now, you'll have a good stash to start from when it does.
 
I VOW TO HAVE BY THE TIME NEXT HIH COMES AROUND!
 
labcab said:
If you're patient and picky, the right truck will come along, and if you start banking payments now, you'll have a good stash to start from when it does.
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That's a great advice, which is exactly what we did. We do not like to have car payment, so we try to save every month. I think it put you at a better position when negotiating as a buyer. I know when we bought our LC last year, the seller was wanting to quickly get it done because she has bought another vehicle. It is good to be able to tell the seller, we will pay cash, we do not need to try to get financing.
 
Do you have any whole or full life policies you can pull from? Those come in handy in a pinch. I know this is a Dave Ramsey no no as well, but hey. When I was trying to pul 10K fast I forgot about those until my mother reminded me.
 
All my life insurance is term.
 
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