How much per month am I looking at if I bought brand new? I'm pretty much broke so it would have to be a zero down deal if those even exist. Not interested in leasing if I can put the money into owning.
Is it better to buy brand new?
Discussion in 'Ask An Owner Operator' started by buttmeister, Sep 15, 2020.
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Wow.
Vampire, snowwy, exhausted379 and 8 others Thank this. -
lol
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$200,000 ÷ 60 months = about $3,700 or so when you count interest?
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I think you should just stick to being a steering wheel holder.
Vampire and buttmeister Thank this. -
Now that Buttmeister has his answer I'd like to hijack this thread because I was thinking about something related.
Interest rates are down across the board, right? Is 5-6% a reasonable APR on a truck loan for someone with good credit and a pile of cash? Because I have to think a truck depreciates a lot faster than 5-6% / year. Where is that breakeven point in terms of truck depreciation versus loan interest, over 6 years?Last edited: Sep 15, 2020
Svmuel Thanks this. -
This worked well for me on trailers, trucks however I haven’t yet hit 5 yrs on a brand new one so we will see.
What I did with trailers is pay off the loan before 5 yrs, sell them outright, then have the cash to make up the difference for the new ones. That is certainly my goal, and I’d think would be everyone’s is to not have a loan anymore after that first one completes. This should in theory become easier since now I’ll be saving on interest as well. -
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