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  #81  
Old 09-08-2012, 08:21 PM
muddywater muddywater is offline
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Quote:
Originally Posted by PerfectEarth View Post
I disagree that a car or truck should be paid for in cash. Yes, it's a depreciating asset but with a decent chunk down, and a great rate over 3-4 years- sure.

The bank will make some money but you can get what you need. I'm still driving the same Chevy I bought new in 2001 and paid off in 2005. No regrets. Now, I wouldn't continue to get into vehicle debt if you consistently trade up or in.

We'll probably need a new truck next year due to growth (being able to serve more customers AND existing, adding a crew) and I sure won't be paying all in cash!!! lol..... that's why a business needs excellent credit and good financing options. One day we'll get there, but not 4-5 years in.
Why buy a new one? I started a dedicated irrigation repair truck a few years ago, and I bought an 07 Duramax regular cab 2wd truck with 60k miles for $15k. Why not buy used with low miles for a fraction of the cost, but basically with the same service life?
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  #82  
Old 09-08-2012, 08:26 PM
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PerfectEarth PerfectEarth is online now
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I suppose I meant "new" as in new to me. Sorry for the confusion.

If I get a truck next year, it will be used. But 25-30k used!

I wasn't advocating buying new. BUT, if you keep it for a LONG time, that 60k miles might make a difference. And then there's the preference of just wanting a truly new vehicle. We all know how that feels.
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