2011 Dark side of the moon offer

Discussion in 'Lounge' started by riotwarrior, Oct 8, 2017.

  1. FORDF250HDXLT

    FORDF250HDXLT Walk In Harmony With Mother Earth Supporting Member

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    Man,that's insane.My beater broke down on me out on a winter road trip last year.I had to go get another car.I have fantastic credit but was going to just buy a little car outright anyway for a few grand.
    However,my credit union was willing to lend me a few grand at under 2%. So for approx $175 (in total for a 3 yr loan) I just borrowed their money for the car.$130 month/3 years.It was cheaper to leave my $ invested in the ETF's I had them in (making much more than 2%)
    However even with this small loan,I still have a normal emergency fund and setup another emergency fund devoted just with several months worth of monthly payments,just in case yet again.A $150 monthly car note,to me is something I don't even notice.I borrowed,way,way inside my means and if the stuff really hit the fan,I could just pay the total off if i had to at any time.
    You can't grow wealth by spending your way there.It takes saving and living inside your means..........so much less stressful too.I made the mistakes when I was in my 20's.Most of us all live and learn things the hard way.Just as long as we eventually learn before we're done working so we don't end up living on crumbs.:D
     
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  2. jwalterus

    jwalterus Made in America

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    I hope you get it, and I hope it gives you years of trouble-free enjoyment!

    I have spent enough time wrenching on my own vehicles out of necessity, if you have them means to do it without putting yourself in a financial bind, I say go for it.

    Though this forum is based around people who keep their own vehicles running by themselves, everyone hits the point where they are just done with it. Whether they are 40 or 80, at some point everyone hits the point that their time is more valuable than crawling around under their truck.


    Every vehicle has its useable life (barring a complete restoration, which is generally not practical).

    Arguing the increased costs of maintenance per oil change/service is a moot point, many on here are already running a synthetic oil, and changing every 3k, while adding 2-4 quarts between oil changes.
    If you take a new engine, and run that same oil for the now recommended 5k, and don't have to add any between, you are already ahead on your maintenance costs. And the newer engines and drivetrains are designed to go much further between major services.
    Do they cost more to repair? Yes, but if you are keeping it in factory form, and take care of what are now well-known problem areas, you should be ahead in the long run, especially if you figure on what your time is worth to you!
    Even if I consider my time worth $65/hr (what I charge for small welding projects on the side at my home), and I spend 50 hours/year working on my truck (call it 3 weekends) above the new car's time to do oil changes, that's the equivalent of a $270/month car payment, before I even figure in the cost of parts.

    My truck needs the kingpins rebuilt, tie-rods replaced, new shocks, and the rusted out exhaust rebuilt, what's the value of that at $65/hr? Even if I pay someone to do the exhaust, and I have to wait for it while it's done over 3 hours, that's still $200-ish in my time plus the cost of them doing it.

    I will say, I don't have a payment on anything, I have managed to put myself in that position. But, if my truck were to have a catastrophic engine failure at this point, it'd be parked and replaced (though kept for one of my sons to have).
     
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  3. 92F350CC

    92F350CC Ford Man

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    I just bought my truck this summer for $31k plus TTL. I put down only $2500. However.....I actually have enough cash to buy it outright but wanted to keep it liquid for when the housing market comes back down a bit. Interest is cheap so I took out a 6 year loan at 2.49%. payment is less than 10% of my pay though, so it works out well enough that I'm actually making triple payments to have it paid off by the end of next year. Then I plan to keep this truck for many years to come.



    Sent from my Pixel XL using Tapatalk
     
  4. snicklas

    snicklas 6.0 and Loving It!! Staff Member

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    I’m glad I’m not the only one that eventually gets tired of nursing along an old vehicle. It gets to the point of enough is enough. That’s where I was, the time and money were just to keep it going, and didn’t address the “non drive ability” issues, like the busted windshield, the other windows that didn’t work, the rusting body panels, and the rest of the list. I know for certain in parts and time over the last year I’d put more than the value back into it. Plus, that vehicle is the one my wife and kids were in. I didn’t like having the question in the back of my mind if they were going to make it where they needed to go. No, it wasn’t falling apart, but I had trust issues with it. Now, I have no problem driving a vehicle that might give ME issues, I’ll deal with it and move on. But getting a phone call that your family is stuck somewhere because of vehicle issuers is COMPLETELY different. Now you have to deal with the broken POS AGAIN, and a pissed/dissappointed/inconvenienced family.

    So, I replaced a questionable old vehicle with a much newer and low mile vehicle. I will still keep up the maintenance, still out the same a month, and not have to work on it all the time. When it’s paid for, it will still be a decent vehicle that I know a good part of the history on.

    Also, one big reason for the boomers having to cut pills and live on ramen isn’t because they didn’t prepare and save, it’s because of the changes in health care and having to pay outrageous sums of copays on their medication because they health care system has been allowed to jack pricing for profit. My parents are boomers, the saved for retirement, but not at the cost of their quality of living during their working years. They are both retired and have the same quality of life they did when they were working, oh and Dad has a 2016 truck he bought brand new, why, because he’s tired of working on stuff all the time to keep it going.

    I guess why this thread struck a chord with me, I’ve been on both sides, same as Al, plus I had former inlaws that felt the need to question/criticize any money I spent. My point of view is until I come ask you for help/money, don’t say a damn thing about how I spend the money I earn!
     
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  5. FORDF250HDXLT

    FORDF250HDXLT Walk In Harmony With Mother Earth Supporting Member

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    It's Al's thread though.It's advice for Al to consider if he wants to.No ones telling you to sell your new ride Scott.:D
     
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  6. 94f450sd

    94f450sd Supporting Member Supporting Member

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    Id rethink the 6.7.

    I do t get to work on many cuz everybody knows dont bring me a diesel newer than a 7.3.i will not work on them.

    A friend of mine is lucky enough to work on a fleet of 6.4 and 6.7.poor bastard.the nightmares he tells me about makes me glad i refuse to work on them.im not saying theyre junk but his shop always has atleast 4 trucks in there for engine work.

    Id go buy yourself a well taken care of older truck and use the rest of your money on better things.

    And while id hate to say it.go with a duramax if youre really wanting a newer vehicle.i NEVER hear any complaints about them and have never had to even work on one.
     
  7. riotwarrior

    riotwarrior Supporting Member Supporting Member

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    Two reasons to do this...plus plus

    I am wanting to build credit....there is more to my income than I can really say ...suffice it to say it is going well...very well....never in my life have I been able to purchase something like this...so as long as I make payments and such say for a year...then down grade or change....I work towards affording a home. LOL

    2ND
    Work is taking a direction where a good solid truck is going to be important IMHO with my position. If what I am hoping for and being groomed for ....a whole lotta going from site to site will be in ordsr and w vehicle allowance etc it will help immensly.

    On side note I am not afraid to work on my idi trucks but the level of reliablity isnt there rigjt now. Town driving w zf sucks in bumper to bumper traffic.

    Crap even my saturn sucks in traffic to high geared....always on and off clutch.

    So this is a huge step and commitment for sure....2x my current ins cost but thats not bad a 2011 vs 1988

    This is what I am looking at

    http://www.skahaford.com/used/Ford/2011-Ford-F-350-183e81df0a0e0ae867dfbbaf2c24957a.htm

    There is nothing set in stone...all depends on payment structure....

    Thanks for looking.
     
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  8. jwalterus

    jwalterus Made in America

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    So that price is in Canukistan Kopeks? What's that in American, about $17? :joker:

    Good lookin' truck.;Sweet
     
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  9. riotwarrior

    riotwarrior Supporting Member Supporting Member

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    Remeber boys...n girls...

    SINGLE MALE

    Work lots
    No other debt other than day to day bills...electricity phone and rent and food

    My bills are current... and paid off

    I eat exceptionally well
    I dont waste $ on babies n ladies..
    dog toys yes....
    Tools yes

    Lmao
     
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  10. FORDF250HDXLT

    FORDF250HDXLT Walk In Harmony With Mother Earth Supporting Member

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    Al,if I may,buying a vehicle isn't a good way to start building credit.It will cost you huge % in a subprime loan.

    Ideally,you'll (be debt free first of course,like you are in your case) apply for a couple credit cards.Use them only as spending tools (treating them like a debit card) using only up to 10% of their limits.Paying on them as you go (but leaving a few bucks to reach statement so that low utilization is reported) then,inside just a few months to a year,when you go to apply for that car loan,you'll have a FICO which helps show lenders,that your much less risky than they see you now and you'll save thousands on the truck loan.

    Now,after this as well as having a auto loan,now your score will go up a bit more,as you have different types of credit,always making your payments and when you go to get a mortgage with a perfect or high 700/low 800 range,you'll get approved for a great mortgage rate.
     
  11. chillman88

    chillman88 Supporting Member Supporting Member

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    My wife and I were in a similar situation. I don't have a problem spending a couple bucks here and there fixing my old trucks. My wife's ride on the other hand... I can make due. I want her wheels to be dependable. Even if it's so they can come get me when mine breaks down :rolleyes:

    Her car needed about $900 IN PARTS (USD for your far north folk :p) We got her the car she "wanted" and overpaid...

    But for us it wasn't just percentage. She had NO credit and I had BAD credit. We overpaid and were charged a high % on a car that only lasted a couple years anyway. Luckily for us, we were able to find her a good ride, a pretty decent deal on the financing, and SHE can afford it. Not easily, because we had to roll $9,000 into the purchase price. But she can take care of her own now.

    As for me, I owe $120/mo for the loan I took out for my IDI for the next 10 Months. I pay $50/mo for insurance. I might put $100-200 into it on a bad month. Normally it's fine. I REALLY want a new ride. Honestly I just don't want to drive this in the winter, but I can't get my backup beater finished in time.

    Here's how I'M breaking it down in my head.

    NOW:
    120+50 for the vehicle. Say I average $100/mo in parts, which is unlikely.

    $270/mo for my IDI.

    Pretty much anything I would consider is going to be $300-400/mo. We'll say $300. My insurance would be DOUBLE because I'd have to carry collision. I'm looking at

    $400-500/mo for something newer... That will still EVENTUALLY break and need work. Around here, most $300/mo trucks are around 100k miles already.

    I'd PERSONALLY rather put that extra $230/mo into my IDI. If I did, It'd be one killer ride after a few years :D

    To each his own. Just my two cents.

    It is a beautiful truck though. I've always loved the look of the super duties. I just wasn't going to buy a 6.0 or a gasser, and the 7.3's are all shot around here and anything newer than a 6.0 is $$$$
     
  12. Pork_Chop50

    Pork_Chop50 He looks kinda hairy and slobbery to me....

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    I hope you get the '11. I have a couple of friends who have them and I gotta say the pickups are nice. There are some pretty sweet options now. And the transmissions on the '11-up Super Duties are slick. Regardless of which rear end ratio you get, they all drive great. I've been in a 3.31, 3.55, and 3.73 and they all drove great. The hardest part my friends have had is to adjust their mindset. We all grew up looking at which mods to do for better performance, or capability. And suddenly the newest batch of pickups are so well equipped you just end up driving the silly thing. Can you believe that?
     
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  13. idiTravelAll

    idiTravelAll Full Access Member

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    That is a sexy beast of a truck, I say house first if your housing market is not at or nearing a high. I bought my first home in 2009, 2 weeks before I turned 25, a year prior to that I had maybe 2500 worth of debt and couldn't even get approved for an apartment for some odd (but good) reason, I saved up and paid off the debt, put 1000 cash in my bank for a PREPAID credit card.. when it came time to buy a home my broker did a rapid rescore on my FICO and was able to get a 5% APR. That's my 2 cents
     
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  14. chillman88

    chillman88 Supporting Member Supporting Member

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    Yeah I forgot about that. A prepaid credit card was a major factor in my credit getting better. It's still not great, but its not in the toilet anymore either.
     
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  15. riotwarrior

    riotwarrior Supporting Member Supporting Member

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    Pre paid cc for 4 years....no change

    Clear off all debt as 28k family maintanence and any debt listed...priceless...

    New mastercard 200 limit paid religiously....helping
     
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