Posts: 910
Location: Hastings, mn, 55033 | i guess i disagree somewhat on buying new always being a bad deal. if you qualify for 0% interest on a new truck, you will likely pay less in the long run than buying a used 2 or 3 yr old truck and getting charged anywhere from 4-7.5% interest on a used vehicle. the depreciation on new probably isnt going to be as much as interest on $17,000-$18,000 over the course of the loan.
i know of numerous guys who qualified for the 0%, traded in trucks that were 2 or 3 years old and drove away in a brand new truck WITH A LOWER MONTHLY PAYMENT than what they already had (and not because the term was longer but because there was no interest being paid)
even if it comes out close, personally i'd rather lose $$ to depreciation than to a bank!! |
