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Ever since I started reading threads on this forum, I've been curious as to how people finance their vehicles.
I'm going to be replacing a 2002 Ram with a new Tundra, soon, and even at 5 1/2 years and 90K miles, I feel it's a little too early to justify on the basis of finances alone. I'm single and only have one vehicle. I don't usually take out much of a loan to buy a truck, rather I use savings. I always buy new.
However, I see that many people here are replacing 04's and later. Some of you are even replacing 06's. That seems rather expensive to me, replacing a truck every 2 or 3 years. Toyota even mentions that many of their prospective customers are "uspide down" (have negative equity on their current vehicles) which means that their trade-in would be worth less than zero dollars after the note is paid. What kind of person shops for a new truck in that situation?
Now, I know that most people here are going to be "truck people" who spend more of their income on trucks than others do. I also see a lot of vehicles listed including recreational vehicles. I'm just curious about how people look at their purchases from a financial standpoint.
I'm going to be replacing a 2002 Ram with a new Tundra, soon, and even at 5 1/2 years and 90K miles, I feel it's a little too early to justify on the basis of finances alone. I'm single and only have one vehicle. I don't usually take out much of a loan to buy a truck, rather I use savings. I always buy new.
However, I see that many people here are replacing 04's and later. Some of you are even replacing 06's. That seems rather expensive to me, replacing a truck every 2 or 3 years. Toyota even mentions that many of their prospective customers are "uspide down" (have negative equity on their current vehicles) which means that their trade-in would be worth less than zero dollars after the note is paid. What kind of person shops for a new truck in that situation?
Now, I know that most people here are going to be "truck people" who spend more of their income on trucks than others do. I also see a lot of vehicles listed including recreational vehicles. I'm just curious about how people look at their purchases from a financial standpoint.