Drive a truck into the ground? Sorry - not my style. ANY modern vehicle maintained regularly should have minimal drive train issues...exluding sensors/electronics. 99% of the horror stories you hear involve failed electronic components..regardless of the make/type of machine.
My #1 pet peeve, people who literally trash their vehicle - looks like some 19 year olds dorm room inside, 3 mismatched tires and been hit more often than the lotto. Of course these are also typically the people complaining about horrible resale on their cars.
Warranty...who cares....again most warranty is druvetrain only. Anyone recall what the warranty was on a late 70s domestic auto? Yep..basically none...might have been a year. These are considered the "low point" in modern vehicle quality standards...the first generation of disposable cars...yet people bought them with no warranty and survived (gasp). Warranty wasnt an issue till around 1983/84 when Chrysler made it their selling point (and paid the price after a huge sales boost and the subsequent failure of so many of these vehicles).
If someone is willing to loan 6-7 years on it...they either must have some degree of confidence in its resale, the buyer ability to repay or a moderate case of insanity.. or a combination of 2 or more. Banks know how to make money even in recessions.
As I said, rate isnt bad (sub 5)...I understand compound interest, and COULD just go shorter term or pay cash even. But I like flexibility...lile the flexibility to take $500 a month I budget towards a car and pay $300 towards a payment and putting $200 into a savings or other stable value investment - then if I need maintnance, I have a reserve to dip into...easier than say doing 48-60 months at say 500 or 400 a month.
Cars as an investment...never. But you cannot approach everything as an "investment". I take vacations too...not because I get a return on what I paid for them...but because I enjoy them
At the same time - I pay CASH for my vacations...credit cards/loans on such things are just bad financial managememt. I know people so damn tight they drive 15 year old Volvo wagons and keep every penny they earn in the market/savings...good for them, but I believe in BALANCE - if a vehicle makes you happy, go for it...just keep it within reason, ensure there is a backup plan and your not living paycheck to paycheck and dont buy to impress the neighbors, buy what you like.
All of this said, I think Im going used. At least I am 98% on it. Yes, new is nice...but being selective on used is better $$ wise. I can get same vehicle at same payment...just a year or 2 less payment for going a year or 2 older...might even go 3 or 4 and to a higher trim. I am not typically a fan of "fancier" trucks...but what I have noticed...the fancier ones tend to be better kept. Base models get driven hard for 3 years and turned in...higher trim might be 4 or 5, then traded off.
Car shopping to me is actually enjoyable, but I have worked around shops before and know how to treat it. Dont let pressure stress me out, dont buy from someone who tries pressure (even if they are a few dollars cheaper on the front end - they have a plan of attack waiting for you in the finance managers office),know used means you have to be decisive, and understand "window" prices are negotiable no matter what they say...but "internet" prices are typically within 3-5% of the expected sale price. (Its easy to sort prices on the web, so low price gets the first click...but in person - there is no competition, so mark a car high and let the customer beat you down to feel like they got a deal).
Alot of this doesnt just apply to cars too...go tractor/equipment/atv shopping. Everyone wants to "win" - scoring that elusive best price. Funny thing is - Id estimate half of the buyers either cant recognize a great deal and blow it trying to haggle a dealer down more...or get "upsold" into things they never needed...all in the name of "0% financing".
