The Machine

iTrader: (8)

It is a very nice looking truck. Good luck with it!

WhiskeyD

Just my 2 cents, If i was buying a new truck I'd go for a new Tundra if I could afford it!

CLtotheTL32

iTrader: (3)

Damn that's a good looking truck! No way in hell I would get white though.

IamaTL

Damn thats a monster hood

callahan

I would go for the Tundra too but im bias


Ram looks great tho

JTS97Z28

iTrader: (4)

For what its worth I just got done reading Motortrend's article about 2013 pickups and the winner was the ram 1500 motortrend truck of the year. From what i read they loved the 1500 Sport. Again, im not really into pickup trucks and have never owned one, but that thing had a damn slick interior. That nav screen was huge!!

wojo1988

I went to the dealer today and talked numbers. Crazy that the dealer financing is 4.9% But whatever.

All said and done for the one I want fully loaded to the tits its 44,900 then financing ontop. So about 50gs otd. Payments over 8 years are 266 roughly bi weekly.
Im heading back tommmorow to set it in stone with my dad. They are giving me 17,500 for my type s trade in with 165,000km!!!
Ill keep everyone updated with pics and info.

Also!!!

What colour should I go with? Red Blue or White

DaeHanMeenGuk

You already had a white car so I say red or blue! Unless you really love white.

The Machine

iTrader: (8)

8 YEARS of payments?!

I think the white looks beautiful in this truck, stay with that.

JTS97Z28

iTrader: (4)

Damn, 96 month loan? Never even heard of that lol. Regardless of what you do your payments are going to be high on a $50,000 vehicle, but if you want to get that loan term down a bit and a little better rate consider going with Pentagon Federal Credit Union. They have 1.49% up to 60 months, or 3.49% for 72 months. The dealership doesnt require you get their financing by any means, and it shouldnt hold up getting the truck either. Infact a lot of dealerships will still let you drive it home with a contract stating your getting your own financing within a certain period of time, and if you dont then it falls back to your original financing through the dealership.


As for colors I am somewhat familiar with the colors available since some of them are the same as to what they offered on my new Grand Cherokee. Unless your only getting whats available on the lot, my vote goes to one of these colors for sure: Maximum Steal Metallic, Mineral Gray Metallic, True Blue Pearl, or looking at the website that Black Gold Pearl looks pretty damn slick on that truck. I say get one of those colors!

James

i_love_cars

iTrader: (1)

now I am concerned for you and am going to (wastefully) stand on my soapbox.

of course they're giving you 17.5 on your high mileage trade-in. They don't care because you are giving them 4.9% on a brand new car spanned over 8 years which is an asinine amount of interest, and you think they're doing you a favor by giving you 17.5 on your trade so they are more than happy to screw you.

if I was buying a truck for my business (which I did, because I haul quite a bit for the work I do on all of my rental properties), my goal would be to make it as low of an expense as possible because it's for my business, not pleasure, and even a 1-time tax writeoff for a brand new truck isn't going to make up for the fact that with the difference in price of a 45-50k new truck and a 5k older truck, even after expenses to repair my older vehicle, I have enough left over to put 25% down on another 2 or 4-family rental building.

This is a staggering bad deal for you. I would not sign those papers.

CLtotheTL32

iTrader: (3)

You're getting raped. I would NOT sign any papers for that truck.

piggydog

Glad you're stoked on it but 8 years at those payments probably isn't a good economical decision. I'd rethink this at least for a few more days.

SharksBreath

iTrader: (33)

dat impulse.

lusid

In 8 years. You will pay:
$60,539.35
Total of 96 Payments
Of which interest is 10.5k.

That's one expensive truck.

lusid

Now let's talk depreciation. If the weight of the truck is over 6k, you can probably take 100% bonus or section 179 on the truck and write it off.. Depending on what your business made for the end of the year. If under 6k lbs you be in trouble.. You will only be allowed luxury rates which is highly limited.

BeezleTL85

One expensive common truck. Buy a used one since its a work truck. Better yet, buy a 10k diesel and keep the TL.

SharksBreath

iTrader: (33)

i kinda feel bad for everyone shitting on his idea, but lets face it...there is some solid advice here.

OP, in the end it's your money and your life. none of us know your financial situation so maybe this is no biggie for you...it just doesn't seem like a wise idea.

i_love_cars

iTrader: (1)

I don't pretend to know everything, but as someone who takes on a lot of risk regarding lending by buying rental properties, and the fact that I work for an investment company, and my business partner has been in commercial and consumer lending for 7 years now - given what I've seen of people and how they operate, nobody who takes an 8 year term on a depreciating asset @4.9% that they are borrowing nearly 100% on is in a good financial position.

It's just a bad purchasing decision through and through, but it happens all the time. All. The. Time.

People typically get offended when you tell them they aren't qualified and they will retort with something like "well I can afford the payments so screw you", not realizing that as a percentage of their DTI ratio it's extending them very far beyond their true means of living. But they don't care because in their eyes they are ballin' because they can "afford the payment" on something they can't "afford" to begin with because they had to borrow money for it.

DaeHanMeenGuk

Have you considered looking into a pre-owned Ram 1500? They are like a 1/5th of the price you would be paying for a new one. (And maybe you can still keep the TL-S as a weekend car!)

CLtotheTL32

iTrader: (3)

+1 on getting a used truck.

I've been looking at the newer F150s with the EcoBoost engine on Craigslist and they are much cheaper to get with just a few thousand miles on them. That way you don't face the initial depreciation hit when you drive it off the lot and typically the manufacturer warranty is still in effect.

SharksBreath

iTrader: (33)

i know it...i just didn't wanna be the one to say it.

MAS

iTrader: (3)

Get one of these







or one of these








These were the ones i was considering when i was truck shopping (guess which one i ended up with).




oh and don't buy new.

justnspace

iTrader: (1)

DAT FIRST DENT ON a 60k vehicle.
OUCH!!!!!!!!!!!!!!!!!!!

i_love_cars

iTrader: (1)

i can't believe you have over 30,000 posts.

lusid

Add some V-tec to your activity green bar and you can have 30k+posts as well.

Undying Dreams

iTrader: (3)

wall e

the white will be a reminder of the good times u had with the TL

DaeHanMeenGuk

And it's not a dent on a BMW M3 either.

350

iTrader: (4)

Would not buy, get a few years used truck for under $10K and use it strictly for business. 4.9% these days? Credit unions are around 1.9 for used cars now... Also in 8 years that truck will be worth less than $10K so is it worth $5-6K a year to you to have a newer truck?

i_love_cars

iTrader: (1)

the 4.9% interest rate is because it's an 8 year term.

Typically the best interest rates on new cars are for 2-4 year terms, sometimes 5.

LaCostaRacer

Agreed 100% . There are so many parts of the deal that are flawed. You really should look at all the threads that various past TL owners start after they have sold the TL only to find that the 'greener pasture' car or truck was not quite the experience dreamed of. Maybe this is not going to happen to the OP possibly.

If I truly needed a truck, I would not touch a Dodge with a 10 foot poll. For that money, I would go with a Ford Raptor that at least could go off-road and is pretty unique.

The Ridgeline is a nice truck and probably could haul anything needed and would be pretty reliable and keep resale better than a Dodge. The ultimate work truck for resale is a Tacoma which also would probably haul everything thrown at it by the OP too. Either of these trucks would be 200% more reliable than a Dodge and 100% better on resale.

LaCostaRacer

According to www.ramtrucks.com, weight is 5179lb so no chance benefiting from the 6k tax benefits. The Tacoma V6 payload is 1260lb- just 260lbs less that the Ram's but the Toyota weighs 1000 lbs less. The Toyota is a lot more efficient in doing 'work' and also might be more reasonable when traveling to prospective customer's homes doing quotes.

It's been my experience that the contractor with the fanciest truck usually does the worst job, but charges a premium price. I will take notice of the kind of vehicle an unknown contractor rolls up with if I don't have any past experience or referrals. Just some food for thought.

The idea about keeping the TL and buying a more reasonable work truck is a very good idea.

wojo1988

I really do appreciate everyones insight on this topic. After careful deliberation I have lowered my tls payments from 3 years remaining to 1 year to pay it off full in dec 2013. So in doing that and having it paid off in a year I will then sell it and use that cash plus some more saved to put down half the cost of the new 2013 ram sport which I will get at the end of the year. So I assume that they will have alot better pricing on them then to clear them out compared to now where they are fresh on the lot.

I also would use the ram sport for pleasure and work so thats why I want a nice vehicle still.

I think doing it this way will motivate me more and the 1,405.00 car payment each month will keep me on track lol

i_love_cars

iTrader: (1)

well that's a huge step in the right direction, at least

MAS

iTrader: (3)

We appreciate your efforts to work thru this and find a better solution. We have reviewed your latest plan and after long deliberation have denied your request. Having a $1,400 truck payment is not approved. The mere consideration of that payment for a Dodge product concerns us and we would like recommend some sort of therapy (to be agreed upon at a later date).

Once again we appreciate your efforts and look forward too your next proposal.

THX

ggesq

iTrader: (1)

JTS97Z28

iTrader: (4)

Sweet, nice job man! Thats a smart decision as I could not imagine having a $1,400 "mortgage" on a car lol. To put that into perspective thats $100 more than my mortgage including taxes on my townhouse, and only a few hundred less than my mortgage on my 3200sq ft new home. I think having that payment would have severely ruined the experience of owning that vehicle. Glad we all could have helped!

James

ggesq

iTrader: (1)

James- methinks the 1400 car payment is his new payment schedule for his TL as he is reducing his loan term and increasing his monthly payments to 1400 to pay off his car quicker.

If he went thru with that obnoxious new loan his payments on the truck would have been a little over 500.

JTS97Z28

iTrader: (4)

Yup I should have read that over better my fault. Well even though that's not the case here, a 500+ dollar car payment for that long is just too much. There is a guy at my work that basically has a mortgage on his new GTR lol. I think someone said he pays like a grand a month on it haha. The guy is single and makes a ton of money so I guess he doesn't care.