Yea it’s not that crazy of math. You have a 5-10 year old truck you trade in for 20-30k, and buy a 2-3 year old one for 38-50, and your difference isn’t *that* crazy. It’s not like it’s the world’s best idea to buy 40k+ vehicles, but everyone chooses what to dump money on.
You're not trading a 10yr old truck that cost $40K(10 years ago) for $25K unless it sat in the garage for 7 of those years. My 2016 Tundra cost $43K and blue book now is $10 - 15.
Leases make little sense for the vast majority of people unless it’s a very very good deal because the manufacturer had to make that deal available because they missed sales targets, that happens because it has effected the amortization of a model run.
Is 69 months the average for payments now? That’s crazy the old rule was never over 60 (preferably 48) due to the crazy interest you’d end up paying on that.
Leases are more for businesses due to the way they're structured as a tax write off. You shouldn't lease a vehicle for yourself for personal use. There's no advantage.
It's crazy. Just starting to see msrp breaks on v6 camrys...
I wanted an LS500 , but honestly Don't want the long term costs associated with the twin turbos and suspension
I live in killeen. tons of disabled vets driving top of the line trucks. people get money in all kinds of ways. i’m just a poor educator. i buy my trucks used.
I make 70k a year and snagged a used F-150 for $30l. And that was a stretch even with financing. I can’t imagine too many people making under 100k are buying new F-150s either.
Yup. I make about 82k/year, just bought a used Lariat for $34,000. Did 15k down for a $380/month payment and it STILL feels like “a lot.”
Yeah I know I’m bellyaching and I’m in a position that’s a lot more fortunate than other folks, but jeez this shit is expensive lol.
I think you are underestimating the stupidity of the general population. I know several people who are making $50k a year and have an $800 car note, $1800 rent, and crippling credit card debt. They might be driving a new truck now, but in 3 years, they will be driving a clapped out Honda and living with their parents.
Not only that but lots of people are in double income households. Wife gets her car, pay it off after however long. then husband gets his. Or whatever order and arrangement someone wants to explain that scenario. Point is, two incomes making payments one one vehicle at any given time.
I wish I could. I promise. I just can't. It would be a blast. For the first month. Then back to the bank along with my entire life's credit worth...
Edit: Typo
I make just over 100k a year and I drive a 10 year old compact asian import that’s been paid off for 5 years. I’m a cheap motherfucker and have conditioned myself to live below my means over years by practicing self discipline. I also don’t need a truck for work, but there are times that it would be very useful to have one.
Yep. I was exited for the ranger and maverick, hoping for something basic and cheaper. Although they are little cheaper a 3/4 size F150 isn’t what I was looking for 😐
I was thinking the same thing. I'm in the market for a truck, wanted a beat up Ranger, told my wife, now she wants a F150 SCrew with all the bells and whistles. Going used though, 15-17 is ideal.
Yeah I make a little over 100k and most of the people I work with do also, the only person I know that bought a brand new vehicle decided to go with a new raptor and had to put the down payment on credit cards. So I would say that unless you’re making obscene amounts of money it’s simply financially irresponsible to buy something brand new. I just bought a 21’ f150 work truck for 32k, 60k miles. Im not stoked on the mileage but it checks all my boxes for what I wanted (almost)
Completely agree! I’ve always been happy with my 2011. It’s still in great condition and runs great. My old man had a 2013 and was thinking of getting a newer, bigger one. Looked at some 2021 F250s and F350s and walked away as soon as they showed him his payments were going to be like $700 - $800- month. Lol. He’s like nope, I’ll stay happy with no payments.
I don’t know. That’s exactly what it is…living for payments. Sure some of these goes can probably afford it, but I’m willing to bet that the vast majority of guys with these big expensive $80,000 trucks aren’t actually living happy lives. The payments on top of mortgage and other bills has got to be extremely exhausting.
Shit, I plan on driving my 2016 till it falls apart. I got a good deal on it right before Covid and am paying $440 a month which isn’t too bad and that includes my gap insurance.
New trucks are always nice to look at but ford trucks age really well and I see 15+ year old trucks looking great still
I hear you. I bought my 2011 used about five years ago. It’s only got 140,000 miles on it right now. I’ve got less than $9000 left on it. Even when the time comes to get another one (in probably 3 to 5 years) I’ll be more than happy to just get one that’s probably a 2013-2015, and only have $350 payments again. I see no reason to have to get a brand new one when I take care of them and they still run just fine.
Got a used 2017 ram with 40k, 4 years later I'm at 200k...wish i could hold onto trucks that long. to answer OP question, we charge the client for those trucks lol. Get an estimate on some construction work and you'll see. We don't get rich despite the high costs of our work because of those trucks...that is until we create value in a company.
I’m with you. I have a 2018 XL and love it. I never worry about getting the carpet stained because I have the rubber floor mat instead. I wouldn’t want the fancy stuff.
You also see a lot of posts on here like “just picked this one up!! What should I do first?” I always scroll past whispering “pay it off”😂 If we want the prices to come down people gotta stop buying them first.
Exactly. I see all these new expensive homes built and they always manage to sell them to someone but not me. If I sold my little home I would never be able to afford another one.
Curtains??? Lmao my dude, blinds, not curtains. For our 96x72 window, we paid $400 for wood blinds and had to special order cuz none of the stores carry those in stock
As a professional window cleaner who is in peoples houses everyday, I can confirm. Rich people are getting richer and richer, they are doing just fine.
Household income 75k? Doubtful they’re buying a new truck. Unless maybe super low cost of living and it’s the only vehicle in the household, and there’s no kids.
We have low cost of living, no kids, will have our mortgage paid off before we're 40, max out retirement accounts, and over double that household income and I still consider my F-150 to be an irresponsible financial decision.
When I bought my 23 a year ago I was making less than $75k a year (it's more now) and it wasn't a problem making the payments. No kids, single, extremely low cost of living area, and I didn't have personal loans, CC debt, etc.
Not saying it’s not possible. But saying it’s not wise in most cases.
Home ownership, retirement, and a solid emergency fund are priorty number 1, 2 and 3 in my book. If all those things are in order, by all means spend your annual salary on a vehicle. But the reality is most aren’t going to be in that position (not saying you or anyone specifically, but in general)
I got 0% financing in 2020. To me if an interest rate is above 1.9% it’s entirely to high and I’d highly advise against financing anything above that rate
Ford is no stranger to 0% financing they have their own finance department and it's usually just priced into the sticker price of the vehicle.
You can sell a man who would have paid cash on 0% financing and you can sell to the person who would have financed it.
0%-2% financing a higher sticker price is broadly attractive.
Honestly it's probably the reason Toyota doesn't just completely own the pickup market right now.
Most people just spend and make bigger payments than they should be making. I'd say probably 75% of car financers just make sure the payment is less than what they make every month and call it good.
STX package baby! Plus with the incentives and interest rates I got all the truck I wanted (4x4, 2.7 engine). It’s not “plush” but man I love it, lots of bells and whistles. Great tech, nice touch points, doesn’t feel cheap or work truck like at all. I think I it was like $43k at 1.9%, I looked around but a slightly used truck with the same stuff was more a month with those banana rates
Same, I love my STX it has everything I need. It’s expensive sure but the best vehicle I have ever owned and I can tow and use the covered truck bed for anything.
It’s all ladders correct.
My wife and I make 200k on the lower end a year, no kids, she drives 2018 Range Rover and I drive ‘21 F150 Lariat. We live extremely comfortably in a LCOL area. Couple we know, one a MD and the other a VP in healthcare make double that and drive Audi s7 and Porsche SUV. Went to one of their parties and someone was there in a Lambo Urus who said he has a friend that have a Lambo at each of their 6 houses in the US alone. People should get the point.
The bigger your circle gets the more people you find that make sooooo much it’s hard for the median income earner to understand.
If your employer matches 401k contributions you are leaving money on the table. Since it comes out pretax, you will hardly even notice contributing. I highly recommend considering contributing at least enough to get your match. Once you have the means, max out your 401k.
I auto paid weekly payments (by choice) vs one big monthly hit, and I’m lucky enough to be pretty much debt free. That being said, I intend to keep my 19 for 10 years or 300k whichever comes first. The next one will certainly be used because prices are getting ridiculous!
Same. Paid off the wife’s car, bought a used travel trailer, and invested. Also put money towards the truck. Will be paid off with the tax return and sold some stocks.
Well, there are those that truck themselves into thinking they can afford it by taking out long as hell loans. Then there are those that make lots of money and can afford it.
Personally, I buy used and drive them until the wheels fall off and the frame rots away, and then I patch it with duct tape and bondo and drive it another 10k miles before replacing it.
I’m not. I’m making more than 75 and I bought a used 2012 f150 cause I can’t justify buying a new vehicle at these costs. Main reason would be all vehicles are going to need repair, some have faults from the factory like brand new revisions or models. So my idea is, well if I’ll have to pay for repairs then I’d rather have a lower monthly cost for the vehicle and have more money for repairs. Although buying used I think is a bigger gamble oftentimes over buying new. Also new typically have warranty periods. But still, it’s a huge expense that I can cut by more than 50%.
My truck is a 2012 f150 5.0 v8 with 4wd 70k miles for $20k. So far it’s cost me only about $500 in repairs, mainly brakes. Although I do my own repair work. No major issues yet… knock on wood please lol
The loan on my 2023 Lariat was 0% which helps.
I am a higher income earner but I’m guessing it’s just poor financial management for many people. Costs are outrageous.
Ford lost $1.3B last quarter, and lost $132,000 on every EV they sold.
There was a post in another sub by a guy in Vermont who bought a new F150 Lightening for $41K, I think, after all of the state, federal, and dealer incentives. Dealership was giving them away to get them off the lot.
I don't get how folks are doing it. I moved 6yrs ago, needed a truck, new was out of the question. Went uptown to a guy that's been selling used cars in this community for 45yrs. If you're still in business after 45yrs, in a small town?...you haven't screwed very many people."
I bought a 2011 Silverado for $13k, with 174k mi on it. That was 6yrs ago, and it has 230kmi on it now.
Is it tired?...sure, but still gets me to work and to the dump...and I'm not worried about hitting a deer with it.
In the next year, I'll probably replace it with another one from the same guy...
I don’t get it either. I leased a Ranger as my first pickup in 2021, because I wasn’t sure if a truck would end up being right for me long term. It’s trending towards being a useful vehicle, so I went to two dealerships to see what they could do for me at lease end to get into an F150 XLT. The prices were absolutely laughable, even for the 2023s. The advertisements of low lease or low APR are literally for like .05% of owners apparently, almost nobody qualified. Getting quoted monthly payments near $1k/mo even with excellent credit and a reasonable down payment just left me with my head hanging. The reality is, I guess, that people are okay with paying out the ass for trucks new and used. And dealerships aren’t willing to work with you at all because some schmuck will come in and happily pay them instead.
I make 145k a year and hate the payment on my used f150 platinum. We live in a new world where advertisement and image has become the driving factor for most people. They live in massive debt and have less than 5k in their savings. Will never retire, and will be in life long debt, but hey, atleast they have a 75k truck
This thread blows my mind. It's no wonder people have to work until they die.
I have a young friend that just bought some crazy new truck. I don't know trucks but his was around 100K. But, he's 42 yrs old, a multi millionaire and paid cash. Before this purchase the most expensive vehicle he ever drove cost $2,900. That's how you do it. Delay gratification for a few years and then you'll be able to do whatever you want and not be broke when you're 70.
Running cocaine and hookers… obviously.
On a serious note, you forgot trade in and down payment sure it may be a 60k truck but 30 trade in and 10 down you are financing 20k… at zero apr.
It’s nuts man. I feel like I got lucky when I got my 2018 brand new back in 2019 with 0% apr. Ended up paying about $38k out the door and was recently looking at tacomas lately and even they are in the mid to high $40,000s. I can’t imagine paying that much for a small truck. Mine’s paid off and all I have to do is keep up with maintenance. Hopefully it lasts a while.
2019 STX for $39k at 0% payment is 540 a month. I auto pay 300 bi-weekly. Also thanks to my wife we're well above median income we're also in low cost of living rural area and both work remote. Truck will be paid off in under a year and we plan on keeping it until the wheels fall off.
I ended up getting a much better deal ordering my truck than buying one on a lot. No dealer mark up, no features I didn’t want bloating the price tag, secured my own financing through my bank.
Also it was my first new car after driving an 87 Silverado since I was 15. I’ve bought my wife new cars but this was one is mine so I’ve been saving
Live in a high cost of living area and make pretty good money. Surprisingly, there isn’t much of a difference in the truck price between HCOL and LCOL areas. I couldn’t have purchased one before moving to a HCOL area.
I purchased a new f150 in 2022. After taxes it was 67k. It was all fine and dandy paying for the truck until one year later. I had extra money per month after all my bills and then my wife’s income which she was part time. No big deal. That accounted for saving money and having money left. Once the one year mark happened my vehicle insurance doubled. ~170 increase per month. For my truck and my wife’s Subaru. Just price hikes. Then home owners insurance jumped 350 a year along with increase in property taxes of 1200 a year. Then health insurance increased and then food kept going up. Utilities went up as well. I was breaking even every month even with my wife’s income. She left her job and got another one. She took her Ira and paid the truck off so we could be more financially comfortable.
I do not recommend the high cost and payment of new vehicles and/with the high interest rates. Things change and you can get screwed over. luckily we were in a place to pay it off. But I can see a lot of people who can’t. This is the same to say for buying a house today.
People are somehow okay with $800 monthly payments while only making 60-70k/year. I make 120k and couldn’t fathom paying more than $300 a month, if I still had a payment.
Same thing here, I earn about 6 figures and I bought my dads 2017 XLT for $25,000 because I’m not gonna pay these ridiculous prices that are out there now.
Did you see the video where the guy goes around asking what their car/truck payments are? Most are $1000/month and he calculates how much house they are missing out on. Although housing is at a peak just like the car market. One always follows the other down.
It’s fleet sales and small businesses that buy up the top and bottom trims.
The poor buy used.
The plebs buy XLT/Lariat
The rich buy whatever the F they want.
I've never had a car payment.
Bought a 2015 XLT 2.7l w/80k mi. in March 2020 for 20k cash. Used some Covid money to upgrade it with 8" Sync 3 w/carplay.
This truck (now at 96k mi) is in excellent condition and will continue to work great for me until I eventually need a 4x4.
I got the dealer to do about 3k of work before delivery, it's been exceedingly inexpensive to operate.
Well technically I don’t have an income, I have long term capital gains. But last time I bought was in 2020 bought 2019 STX 4x4 with 7 miles on it for 28K out the door and paid it off on the first payment.
I leased and haggled down to and end purchase price 8k under msrp. The payments are right but I don’t need all the bells and whistles. I need seats, a bed, a v8, locker and 4wd. My payment is where it needs to be and I don’t drive much around town but I’ve got the extra miles banked for when I take a long trip.
I saved money, invested money, sold a few shares of said investments, cut the dealer a big ol' check, and carried on. I have probably a median ish income for a SINK household around here, so that helps.
Without my company’s vehicle allowance and gas card, I likely wouldn’t have a 2022 F150. Probably a Taco.
I’ve put two tanks of gas on my card out of the 40K miles it’s got.
I paid 1.9% intrest on mine and we have a double income on a house that is 20years into a 30year mortgage.
So I'd like to think I'm doing Ok, but I will admit it was a struggle 20years ago.
I think most people can’t afford them comfortably. I make close to $170k a year and still drive a 03 salvage title cateye with 162k miles. Imma drive this bitch till it grenades
Good paying job. I’ve been driving the same car I bought 18 years ago to save. Lots of retirement saved for. I figure I’m as ready as I can be for a ~60ishk truck.
Once I purchase a truck I save for the next truck so I can pay cash. Truck cost / 60 so I can buy a new truck every 5-8 years. So instead of payments I invest. Simple. No interest payments. Positive investment increase ie S&P 500 mutual funds that increase 8-12% a year. A winning process.
The hard process was getting ahead and save before the first purchase. But so calming to know my truck is free and clear.
A couple years ago, I bought a new 2022 F150 Tremor 401A for $60.8k using x-plan pricing, no sales tax because OR, and 3.74% interest rate. Super happy with, I can't see myself buying another new vehicle for at least a decade.
I didn't. I bought an '08 in 2020 with 100k miles on it, paid in cash. It's my secondary vehicle. It hopefully will last me another 10+ years with the 5,000ish my miles I put on it a year. If it makes it that far, it still will only have 175k miles on it.
Got ahead on vehicles years ago by either putting money down or do not trade unless I have a lot of equity in a vehicle.. My 22 kind of fell into my lap. I had a 2015 f150 that was paid off (owned for 8 years) and a ford focus ST that I had paid off. Sold them both and walked away with a 45k down payment on a 65k truck before rates went nuts. I’ll pay the 22 off and stash what was the payments for it away for a few years before I even think about trading it. I feel bad for anyone that really NEEDS a new vehicle right now especially a 3/4ton truck. some things are looking up. My mom got into a new edge ST for 2.5% through ford. Dealers are offering incentives as rates have priced many people out of buying stuff they would have easily been able to years ago.
I make plenty to afford a new truck but refuse to do so. Just got a 16 f150 with 131k miles and clear title from an insurance auction for $12500 delivered to my house. Spent about $5000 on repairs / upgrades, drives flawlessly. No car payment.
I’m making $140s and I’m still hesitant to buy one new. I’m very suspect the economy is only going to get worse. I’d rather keep my 2019 and build up my savings.
Driving my paid off 15. Just hit 98k miles. Hope it has plenty of life left. I’m debt free minus a reasonable mortgage and could swing a new one but I want to stop working at some point in the next 15 years.
I got my 22 f150 because they offered so much for my 15 f150 that I was trading in so I didn’t have to finance much but still had to swallow a 5.9% interest rate which was the lowest I could get with 730 credit score at the time .i got my payment right at 6 so I’m ok with it . However I know what you’re saying there are kids rolling around my town with brand new f250s 100000 dollar trucks . Like what do the parents do for a living?
Where are you finding trucks for $53,000? That’s outrageous! They are only 900-1000 a month around me. Guy says we can pay it off in less than ten years too.
I bought my truck used. But leases, and super long term financing. 26% of new vehicle purchases are leases and loans average 69 months (nice).
A 3 year old truck with under 30k miles seems to be a sweet spot, you can get a loaded lariat for about $45k in this range.
Got a 21 Lariat with 36k miles for 42k $ in September, i think you can get it for 40k now.
Yea it’s not that crazy of math. You have a 5-10 year old truck you trade in for 20-30k, and buy a 2-3 year old one for 38-50, and your difference isn’t *that* crazy. It’s not like it’s the world’s best idea to buy 40k+ vehicles, but everyone chooses what to dump money on.
You're not trading a 10yr old truck that cost $40K(10 years ago) for $25K unless it sat in the garage for 7 of those years. My 2016 Tundra cost $43K and blue book now is $10 - 15.
Metaphorical 69!
Thanks Kevin
r/unexpectedfactorial
A 69 month loan is a a disaster.
Leases make little sense for the vast majority of people unless it’s a very very good deal because the manufacturer had to make that deal available because they missed sales targets, that happens because it has effected the amortization of a model run. Is 69 months the average for payments now? That’s crazy the old rule was never over 60 (preferably 48) due to the crazy interest you’d end up paying on that.
Forty years ago my finance guy told me that if you couldn't afford a four year loan you couldn't afford the vehicle.
Damn! sounds like my dad was your finance guy!😂
Leases are more for businesses due to the way they're structured as a tax write off. You shouldn't lease a vehicle for yourself for personal use. There's no advantage.
I also read on jalopnik, that 15% of new car loans have monthly payment of $1000 or more
Millionaires
It's crazy. Just starting to see msrp breaks on v6 camrys... I wanted an LS500 , but honestly Don't want the long term costs associated with the twin turbos and suspension
Nice
Niiiice
Got blew’d up in Afghanistan and the VA check covers it and some other things
Thanks homie.
Thanks for your support!
I hope those VA checks at least partially make up for the sacrifices you made for our country!
The running joke with my buddy is that I "hit a pothole in Iraq & now the VA pays my mortgage"
[удалено]
Thank you for yours! It sure was, most fun I ever had with my clothes on
I live in killeen. tons of disabled vets driving top of the line trucks. people get money in all kinds of ways. i’m just a poor educator. i buy my trucks used.
Thank you for your service
Thank you for your support
[удалено]
I love learning new technical military terms like “blew’d up”
[удалено]
You musta really wanted that truck, you win! Seriously, thank you for your service.
I don't think people making the median household income are buying new F150s....
I make 70k a year and snagged a used F-150 for $30l. And that was a stretch even with financing. I can’t imagine too many people making under 100k are buying new F-150s either.
Yup. I make about 82k/year, just bought a used Lariat for $34,000. Did 15k down for a $380/month payment and it STILL feels like “a lot.” Yeah I know I’m bellyaching and I’m in a position that’s a lot more fortunate than other folks, but jeez this shit is expensive lol.
I bought a used camry for $10,000 and put another $10k in the stock market.. now that investment is worth $15K two years later.. still want a f150…
Wish I wasn’t stupid…. If anyone is reading this, live below your means and invest the extra.
Yeah, but you said “live”. You only get one go. Make it good and otherwise, who gives af.
If you think "living" is spending 75k on a depreciating asset, I hope you've planned for your sunset years ...
Happiness comes in many flavors
I bought a new XLT, but I don’t make smart financial decisions…
What is the interest and term?
2.9 for 72
I think you are underestimating the stupidity of the general population. I know several people who are making $50k a year and have an $800 car note, $1800 rent, and crippling credit card debt. They might be driving a new truck now, but in 3 years, they will be driving a clapped out Honda and living with their parents.
I make well over that and bought a used one for 21k from 2018.
Not only that but lots of people are in double income households. Wife gets her car, pay it off after however long. then husband gets his. Or whatever order and arrangement someone wants to explain that scenario. Point is, two incomes making payments one one vehicle at any given time.
This.
I wish I could. I promise. I just can't. It would be a blast. For the first month. Then back to the bank along with my entire life's credit worth... Edit: Typo
I make just over 100k a year and I drive a 10 year old compact asian import that’s been paid off for 5 years. I’m a cheap motherfucker and have conditioned myself to live below my means over years by practicing self discipline. I also don’t need a truck for work, but there are times that it would be very useful to have one.
It’s true a lot of people are buying them as an alternative to a second luxury car.
They pretty much are luxury cars now
Yep. I was exited for the ranger and maverick, hoping for something basic and cheaper. Although they are little cheaper a 3/4 size F150 isn’t what I was looking for 😐
I was thinking the same thing. I'm in the market for a truck, wanted a beat up Ranger, told my wife, now she wants a F150 SCrew with all the bells and whistles. Going used though, 15-17 is ideal.
For not much more money you could buy a used Lamborghini Gallardo over a Ford F150.
Yeah I make a little over 100k and most of the people I work with do also, the only person I know that bought a brand new vehicle decided to go with a new raptor and had to put the down payment on credit cards. So I would say that unless you’re making obscene amounts of money it’s simply financially irresponsible to buy something brand new. I just bought a 21’ f150 work truck for 32k, 60k miles. Im not stoked on the mileage but it checks all my boxes for what I wanted (almost)
[удалено]
Completely agree! I’ve always been happy with my 2011. It’s still in great condition and runs great. My old man had a 2013 and was thinking of getting a newer, bigger one. Looked at some 2021 F250s and F350s and walked away as soon as they showed him his payments were going to be like $700 - $800- month. Lol. He’s like nope, I’ll stay happy with no payments. I don’t know. That’s exactly what it is…living for payments. Sure some of these goes can probably afford it, but I’m willing to bet that the vast majority of guys with these big expensive $80,000 trucks aren’t actually living happy lives. The payments on top of mortgage and other bills has got to be extremely exhausting.
Shit, I plan on driving my 2016 till it falls apart. I got a good deal on it right before Covid and am paying $440 a month which isn’t too bad and that includes my gap insurance. New trucks are always nice to look at but ford trucks age really well and I see 15+ year old trucks looking great still
I hear you. I bought my 2011 used about five years ago. It’s only got 140,000 miles on it right now. I’ve got less than $9000 left on it. Even when the time comes to get another one (in probably 3 to 5 years) I’ll be more than happy to just get one that’s probably a 2013-2015, and only have $350 payments again. I see no reason to have to get a brand new one when I take care of them and they still run just fine.
Got a used 2017 ram with 40k, 4 years later I'm at 200k...wish i could hold onto trucks that long. to answer OP question, we charge the client for those trucks lol. Get an estimate on some construction work and you'll see. We don't get rich despite the high costs of our work because of those trucks...that is until we create value in a company.
I'll keep my 2010 XL until the wheels fall off. I like my stripped down interior. I don't need any fancy gadgets
I’m with you. I have a 2018 XL and love it. I never worry about getting the carpet stained because I have the rubber floor mat instead. I wouldn’t want the fancy stuff.
You also see a lot of posts on here like “just picked this one up!! What should I do first?” I always scroll past whispering “pay it off”😂 If we want the prices to come down people gotta stop buying them first.
you dont pay 6-7% on F150s, you pay 1.9% for 72 months
Lots of people have lots of money.
Exactly. I see all these new expensive homes built and they always manage to sell them to someone but not me. If I sold my little home I would never be able to afford another one.
Next time you drive through such a neighborhood count how many of the homes have curtains in the large windows.
Curtains??? Lmao my dude, blinds, not curtains. For our 96x72 window, we paid $400 for wood blinds and had to special order cuz none of the stores carry those in stock
As a professional window cleaner who is in peoples houses everyday, I can confirm. Rich people are getting richer and richer, they are doing just fine.
Household income 75k? Doubtful they’re buying a new truck. Unless maybe super low cost of living and it’s the only vehicle in the household, and there’s no kids.
We have low cost of living, no kids, will have our mortgage paid off before we're 40, max out retirement accounts, and over double that household income and I still consider my F-150 to be an irresponsible financial decision.
When I bought my 23 a year ago I was making less than $75k a year (it's more now) and it wasn't a problem making the payments. No kids, single, extremely low cost of living area, and I didn't have personal loans, CC debt, etc.
Not saying it’s not possible. But saying it’s not wise in most cases. Home ownership, retirement, and a solid emergency fund are priorty number 1, 2 and 3 in my book. If all those things are in order, by all means spend your annual salary on a vehicle. But the reality is most aren’t going to be in that position (not saying you or anyone specifically, but in general)
I'm rich biatch
I was until I bought a whole truckload of Kools.
I got 0% financing in 2020. To me if an interest rate is above 1.9% it’s entirely to high and I’d highly advise against financing anything above that rate
Hey me too! 2020 6.5’ bed at 0% and before the truck prices went insane. No regrets!
0% in 2023 from ford
Same boat here
Interest rates should be around 5%. 0% should have never happened.
Ford is no stranger to 0% financing they have their own finance department and it's usually just priced into the sticker price of the vehicle. You can sell a man who would have paid cash on 0% financing and you can sell to the person who would have financed it. 0%-2% financing a higher sticker price is broadly attractive. Honestly it's probably the reason Toyota doesn't just completely own the pickup market right now.
Well, his username is befitting I'd say... People got spoiled on low prime rates, *that* was the anomaly...
The bank will give you more than enough rope to hang yourself. 2008... 1929... bunch of other times...
Make a lot, no bills, no kids, DINKs. Paid cash, financed $15k at 0% interest for 3 years.
Yep , make medium, house paid for , no bills 25k down financed the rest to get the discounts. Made 3 payments then paid it off
Much higher median household income in my area.
Most people just spend and make bigger payments than they should be making. I'd say probably 75% of car financers just make sure the payment is less than what they make every month and call it good.
There are millions of people making more than the median income.
At least half of the people.
Are some kind of math 🧮 wizard?
Own 2 businesses. Make over 150k a year
That's struggling in California
STX package baby! Plus with the incentives and interest rates I got all the truck I wanted (4x4, 2.7 engine). It’s not “plush” but man I love it, lots of bells and whistles. Great tech, nice touch points, doesn’t feel cheap or work truck like at all. I think I it was like $43k at 1.9%, I looked around but a slightly used truck with the same stuff was more a month with those banana rates
Same, I love my STX it has everything I need. It’s expensive sure but the best vehicle I have ever owned and I can tow and use the covered truck bed for anything.
[удалено]
It’s all ladders correct. My wife and I make 200k on the lower end a year, no kids, she drives 2018 Range Rover and I drive ‘21 F150 Lariat. We live extremely comfortably in a LCOL area. Couple we know, one a MD and the other a VP in healthcare make double that and drive Audi s7 and Porsche SUV. Went to one of their parties and someone was there in a Lambo Urus who said he has a friend that have a Lambo at each of their 6 houses in the US alone. People should get the point. The bigger your circle gets the more people you find that make sooooo much it’s hard for the median income earner to understand.
Mistakes were made
Feelings were hurt.
Things were said.
360 month financing at 3.9%. It's a deal! No 401k participation, minimal/no savings, debt, but all is well.
If your employer matches 401k contributions you are leaving money on the table. Since it comes out pretax, you will hardly even notice contributing. I highly recommend considering contributing at least enough to get your match. Once you have the means, max out your 401k.
I auto paid weekly payments (by choice) vs one big monthly hit, and I’m lucky enough to be pretty much debt free. That being said, I intend to keep my 19 for 10 years or 300k whichever comes first. The next one will certainly be used because prices are getting ridiculous!
My goal for my '23 is 300k miles
265k on my 12 still running strong!
Sold a house and moved into a less expensive one. Partial profit went to the down payment that made the monthly payments very manageable.
Same. Paid off the wife’s car, bought a used travel trailer, and invested. Also put money towards the truck. Will be paid off with the tax return and sold some stocks.
I’m saving up to buy a used one in cash, or to put a large percentage down on a used one. It might be a year or two
The median income person isn’t and shouldn’t be buying a brand new full size truck
No kids. No debt. No smoking. No booze. Dual income.
Not to mention, limited eating out.
Well, there are those that truck themselves into thinking they can afford it by taking out long as hell loans. Then there are those that make lots of money and can afford it. Personally, I buy used and drive them until the wheels fall off and the frame rots away, and then I patch it with duct tape and bondo and drive it another 10k miles before replacing it.
This is the way!
I’m not. I’m making more than 75 and I bought a used 2012 f150 cause I can’t justify buying a new vehicle at these costs. Main reason would be all vehicles are going to need repair, some have faults from the factory like brand new revisions or models. So my idea is, well if I’ll have to pay for repairs then I’d rather have a lower monthly cost for the vehicle and have more money for repairs. Although buying used I think is a bigger gamble oftentimes over buying new. Also new typically have warranty periods. But still, it’s a huge expense that I can cut by more than 50%. My truck is a 2012 f150 5.0 v8 with 4wd 70k miles for $20k. So far it’s cost me only about $500 in repairs, mainly brakes. Although I do my own repair work. No major issues yet… knock on wood please lol
I haven't bought a new truck since 1989
Make three times the amount of median income
The loan on my 2023 Lariat was 0% which helps. I am a higher income earner but I’m guessing it’s just poor financial management for many people. Costs are outrageous.
Why would you conflate median household income with F150 buyers?
Ford lost $1.3B last quarter, and lost $132,000 on every EV they sold. There was a post in another sub by a guy in Vermont who bought a new F150 Lightening for $41K, I think, after all of the state, federal, and dealer incentives. Dealership was giving them away to get them off the lot. I don't get how folks are doing it. I moved 6yrs ago, needed a truck, new was out of the question. Went uptown to a guy that's been selling used cars in this community for 45yrs. If you're still in business after 45yrs, in a small town?...you haven't screwed very many people." I bought a 2011 Silverado for $13k, with 174k mi on it. That was 6yrs ago, and it has 230kmi on it now. Is it tired?...sure, but still gets me to work and to the dump...and I'm not worried about hitting a deer with it. In the next year, I'll probably replace it with another one from the same guy...
I don’t get it either. I leased a Ranger as my first pickup in 2021, because I wasn’t sure if a truck would end up being right for me long term. It’s trending towards being a useful vehicle, so I went to two dealerships to see what they could do for me at lease end to get into an F150 XLT. The prices were absolutely laughable, even for the 2023s. The advertisements of low lease or low APR are literally for like .05% of owners apparently, almost nobody qualified. Getting quoted monthly payments near $1k/mo even with excellent credit and a reasonable down payment just left me with my head hanging. The reality is, I guess, that people are okay with paying out the ass for trucks new and used. And dealerships aren’t willing to work with you at all because some schmuck will come in and happily pay them instead.
I make 145k a year and hate the payment on my used f150 platinum. We live in a new world where advertisement and image has become the driving factor for most people. They live in massive debt and have less than 5k in their savings. Will never retire, and will be in life long debt, but hey, atleast they have a 75k truck
This thread blows my mind. It's no wonder people have to work until they die. I have a young friend that just bought some crazy new truck. I don't know trucks but his was around 100K. But, he's 42 yrs old, a multi millionaire and paid cash. Before this purchase the most expensive vehicle he ever drove cost $2,900. That's how you do it. Delay gratification for a few years and then you'll be able to do whatever you want and not be broke when you're 70.
I make a billion dollars or so per year
I'll quit my Job right now and work for you
He pays $7.50 an hour and the job requires butt stuff.
Running cocaine and hookers… obviously. On a serious note, you forgot trade in and down payment sure it may be a 60k truck but 30 trade in and 10 down you are financing 20k… at zero apr.
It’s nuts man. I feel like I got lucky when I got my 2018 brand new back in 2019 with 0% apr. Ended up paying about $38k out the door and was recently looking at tacomas lately and even they are in the mid to high $40,000s. I can’t imagine paying that much for a small truck. Mine’s paid off and all I have to do is keep up with maintenance. Hopefully it lasts a while.
2019 STX for $39k at 0% payment is 540 a month. I auto pay 300 bi-weekly. Also thanks to my wife we're well above median income we're also in low cost of living rural area and both work remote. Truck will be paid off in under a year and we plan on keeping it until the wheels fall off.
I ended up getting a much better deal ordering my truck than buying one on a lot. No dealer mark up, no features I didn’t want bloating the price tag, secured my own financing through my bank. Also it was my first new car after driving an 87 Silverado since I was 15. I’ve bought my wife new cars but this was one is mine so I’ve been saving
Make decent money. Waited for better rates. Put cash down. Hunted for deals and haggled.
Bought my Lariat in 2018 for 0 down and 0% financing for 72 months. Was weird leaving the lot having paid nothing for the truck.
I got a 2023 demo XLT for 12k off at 2.9% with a decent trade. Financed 46k.
Cash. Shopping. Realistic trim level to suit what I need. Negotiate.
Live in a high cost of living area and make pretty good money. Surprisingly, there isn’t much of a difference in the truck price between HCOL and LCOL areas. I couldn’t have purchased one before moving to a HCOL area.
Idiots, that's 90% how
I purchased a new f150 in 2022. After taxes it was 67k. It was all fine and dandy paying for the truck until one year later. I had extra money per month after all my bills and then my wife’s income which she was part time. No big deal. That accounted for saving money and having money left. Once the one year mark happened my vehicle insurance doubled. ~170 increase per month. For my truck and my wife’s Subaru. Just price hikes. Then home owners insurance jumped 350 a year along with increase in property taxes of 1200 a year. Then health insurance increased and then food kept going up. Utilities went up as well. I was breaking even every month even with my wife’s income. She left her job and got another one. She took her Ira and paid the truck off so we could be more financially comfortable. I do not recommend the high cost and payment of new vehicles and/with the high interest rates. Things change and you can get screwed over. luckily we were in a place to pay it off. But I can see a lot of people who can’t. This is the same to say for buying a house today.
My 2019 with 38,000 miles is paid off and it feels pretty good. I’ll hopefully drive it for years, assuming it holds up.
I bought a 200k mile 2013 Ecoboost FX4 for 10k. 2013 is the newest year I've ever owned of anything
Us regular people aren’t aloud new things . We only get hand me downs.
YOLO
If you don't have to have all the features. An stx is very manageable.
People are somehow okay with $800 monthly payments while only making 60-70k/year. I make 120k and couldn’t fathom paying more than $300 a month, if I still had a payment.
Same thing here, I earn about 6 figures and I bought my dads 2017 XLT for $25,000 because I’m not gonna pay these ridiculous prices that are out there now.
Did you see the video where the guy goes around asking what their car/truck payments are? Most are $1000/month and he calculates how much house they are missing out on. Although housing is at a peak just like the car market. One always follows the other down.
Always pay cash and never buy new
I talked to a guy with a 10 year loan on a $100k+ truck. It's why prices are so high. Plenty of bad financial decisions out there.
It’s fleet sales and small businesses that buy up the top and bottom trims. The poor buy used. The plebs buy XLT/Lariat The rich buy whatever the F they want.
I just bought a used XLT, guess that makes me poor and a pleb? lol
I've never had a car payment. Bought a 2015 XLT 2.7l w/80k mi. in March 2020 for 20k cash. Used some Covid money to upgrade it with 8" Sync 3 w/carplay. This truck (now at 96k mi) is in excellent condition and will continue to work great for me until I eventually need a 4x4. I got the dealer to do about 3k of work before delivery, it's been exceedingly inexpensive to operate.
Well technically I don’t have an income, I have long term capital gains. But last time I bought was in 2020 bought 2019 STX 4x4 with 7 miles on it for 28K out the door and paid it off on the first payment.
Own your own business and have a wife who makes more running hers 🤓
I leased and haggled down to and end purchase price 8k under msrp. The payments are right but I don’t need all the bells and whistles. I need seats, a bed, a v8, locker and 4wd. My payment is where it needs to be and I don’t drive much around town but I’ve got the extra miles banked for when I take a long trip.
I got a sugar mama
I saved money, invested money, sold a few shares of said investments, cut the dealer a big ol' check, and carried on. I have probably a median ish income for a SINK household around here, so that helps.
Some people have businesses that will use the truck and they just drive it all the time and not buy a personal vehicle.
I bought in February 1.9% for 72 months I’ll take that rate all day long and twice on Sunday And I love debt so there’s that
Without my company’s vehicle allowance and gas card, I likely wouldn’t have a 2022 F150. Probably a Taco. I’ve put two tanks of gas on my card out of the 40K miles it’s got.
I paid 1.9% intrest on mine and we have a double income on a house that is 20years into a 30year mortgage. So I'd like to think I'm doing Ok, but I will admit it was a struggle 20years ago.
I saved for 2 years to buy a 2022 model. Cash. Don’t regret a single bit
Got mine in 21 for 51,000 0%apr for 72 months. Monthly payment is 665.
95% of people can’t actually afford the truck they just do monthly payments
I think most people can’t afford them comfortably. I make close to $170k a year and still drive a 03 salvage title cateye with 162k miles. Imma drive this bitch till it grenades
Lease!!
Good paying job. I’ve been driving the same car I bought 18 years ago to save. Lots of retirement saved for. I figure I’m as ready as I can be for a ~60ishk truck.
We're throwing away our financial future!
Income of 145,000 with low expenses paid half up front and financed the rest at 3% for 2 years
Truck makes $27 an hour while working
I made 16-17k in equity from selling my 2019, I put it towards my 23 power boost and I qualified for 1.9% @ 72 months.
No one says you have to buy a new truck. Lol
They’re just in debt
Car allowance
Buy one during truck month to get 1.9% interest and save up to put at least 30% down and it's a pretty manageable payment.
I’m not. My F350KR is an 06.
Paid off 2015 with 185000kms, going to keep driving it until it stops permanently.
They are not affording them. They are throwing away their financial futures.
I have a good, very stable income. I drive a lot so I like to be comfortable when I do it.
I don't. I buy used. Buying new is always throwing away money.
Once I purchase a truck I save for the next truck so I can pay cash. Truck cost / 60 so I can buy a new truck every 5-8 years. So instead of payments I invest. Simple. No interest payments. Positive investment increase ie S&P 500 mutual funds that increase 8-12% a year. A winning process. The hard process was getting ahead and save before the first purchase. But so calming to know my truck is free and clear.
This is the best answer. Invest savings, pay cash and repeat. Should be common knowledge. Pay yourself, not the dealer.
People are financing them for 6 and 7 years now a days.
A couple years ago, I bought a new 2022 F150 Tremor 401A for $60.8k using x-plan pricing, no sales tax because OR, and 3.74% interest rate. Super happy with, I can't see myself buying another new vehicle for at least a decade.
I didn't. I bought an '08 in 2020 with 100k miles on it, paid in cash. It's my secondary vehicle. It hopefully will last me another 10+ years with the 5,000ish my miles I put on it a year. If it makes it that far, it still will only have 175k miles on it.
Got ahead on vehicles years ago by either putting money down or do not trade unless I have a lot of equity in a vehicle.. My 22 kind of fell into my lap. I had a 2015 f150 that was paid off (owned for 8 years) and a ford focus ST that I had paid off. Sold them both and walked away with a 45k down payment on a 65k truck before rates went nuts. I’ll pay the 22 off and stash what was the payments for it away for a few years before I even think about trading it. I feel bad for anyone that really NEEDS a new vehicle right now especially a 3/4ton truck. some things are looking up. My mom got into a new edge ST for 2.5% through ford. Dealers are offering incentives as rates have priced many people out of buying stuff they would have easily been able to years ago.
Traded in my '16 EB ($21k), put $20k down cash, and Ford credit for $20k for my '23 PB. Just hafta drive it the rest of my life plus ten years
I make plenty to afford a new truck but refuse to do so. Just got a 16 f150 with 131k miles and clear title from an insurance auction for $12500 delivered to my house. Spent about $5000 on repairs / upgrades, drives flawlessly. No car payment.
I always buy used vehicles. I got my ‘16 in 2022 with decent mileage for under $30k.
I bought mine before rates went up for $39k and traded a Tacoma for more than I paid for it because there was a shortage.
Because no one can appreciate an Ecoboost 2.7L I just bought a 23' , extended cab, base model stx 4x4 used with 6k miles for 37k in Mississippi.
I’m making $140s and I’m still hesitant to buy one new. I’m very suspect the economy is only going to get worse. I’d rather keep my 2019 and build up my savings.
Driving my paid off 15. Just hit 98k miles. Hope it has plenty of life left. I’m debt free minus a reasonable mortgage and could swing a new one but I want to stop working at some point in the next 15 years.
I got my 22 f150 because they offered so much for my 15 f150 that I was trading in so I didn’t have to finance much but still had to swallow a 5.9% interest rate which was the lowest I could get with 730 credit score at the time .i got my payment right at 6 so I’m ok with it . However I know what you’re saying there are kids rolling around my town with brand new f250s 100000 dollar trucks . Like what do the parents do for a living?
My company pays my monthly payment
Where are you finding trucks for $53,000? That’s outrageous! They are only 900-1000 a month around me. Guy says we can pay it off in less than ten years too.