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OregonDucks
Oregon Is Faster
In your opinions? How high are you willing to pay for your car payment and for how long?
pshhh my car payment is under 200
That can be a wide range of numbers.
My work van is $389 for72 mos.
Wife's is $650 for 60 mos.
Mine is $549 for 60 mos.
Depending what you have to put down, you can make that number what you want.
My wife's car was also purchased with a $17000 down. Otherwise that payment would be hella high.
mine's $250, thats about as high as i want to go
In your opinions? How high are you willing to pay for your car payment and for how long?
Im going with a Tacoma....not only because for me its one truck ive always wanted (use to have an older one years ago, but had to get rid of it.) But ive always wanted a brand new one...
Figuring out how many years I want to take out on it. I'm thinking the 7 year deal..which is absurd for a car payment, BUT if you look at it with Tacoma's, their resale value is so ridiculously high that after 7 years I can probably sell it for maybe 10k below the price I bought it at? (if I keep it in good condition) and then use that money down to buy another brand new Tacoma.
I am typically against new car purchases, but having looked into Tacoma myself it is the best way to go. You can almost get a new one for less than a used one, they hold their value that well. If you go during a rebate/incentive time you could get a better deal on a new one.
As for car payment, I always try to keep ours below $400 and I don't want any more than a 4 year note. We saved up until we had enough down to get my wifes Camry under $400 on a 24 month note and have been paying it off sooner. We enjoyed no car payments for so long, we drove ourselves into a situation of having two cars at 150k miles and we weren't comfortable with that. So the deal is she got a top of the line new one now, and when it is paid off I get a truck. Thinking Tacoma unless they bring the Ranger back, don't want a fullsize with as much as I drive.
Im going with a Tacoma....not only because for me its one truck ive always wanted (use to have an older one years ago, but had to get rid of it.) But ive always wanted a brand new one...
Figuring out how many years I want to take out on it. I'm thinking the 7 year deal..which is absurd for a car payment, BUT if you look at it with Tacoma's, their resale value is so ridiculously high that after 7 years I can probably sell it for maybe 10k below the price I bought it at? (if I keep it in good condition) and then use that money down to buy another brand new Tacoma.
I agree with your Forman. Looking at it, used 2010's even bring in about 26k while a new one is only 32k (crazy the value they hold!) So I figured why not go brand new instead of a couple years old when brand new is only a couple k more, because when youre talking 28k vs 30k on a loan there isn't much difference.
Unfortunately there is no way I could go with a 4 year loan considering my down payment and my trade in. I'm thinking my trade in will only bring about 3k and I got almost nothing for a down payment. But im also very hesitant to take out a 7 year loan...just seems like a LONG time for a car payment, even though Tacoma's resell so well.
About 2 years ago, i sold my 1998 Tacoma, with 170,000 miles on it for $6k
My 4runner is an SR5 and a 1999 with now 155k miles on it. It is pristine and have no doubt I could sell it myself for 3k, so Yota's hold their value. No worries on a 7 year note. When I get a truck it is going to be a 4x4. When I go to buy, if the used prices are near the new prices I'll go new. No telling what the 4x4 might have been put through on a used car.
I would never buy a new car.
I lease new cars and buy used (1-2 years old) cars. Its the way to go.