# Saving up for my own truck?



## JT Wood (Dec 17, 2007)

I've bought my last 2 trucks at auction. :thumbsup:

Both times have been a positive experience.


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## K&K Carpentry (Aug 29, 2013)

take a thousand or two and buy a little beater truck. Why spend 10 grand for a work truck that you are only going to be using once in awhile. 

I use to spend 30-40k on new trucks cause they where shinny. Now I could care less what I drive. If it holds tools and gets me to jobsite I am happy. 

Just think about it before you drop that kind of cash down, its just a work truck!


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## Easy Gibson (Dec 3, 2010)

http://newjersey.craigslist.org/cto/4174180236.html

Ta-Da, you're in business!


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## Metro M & L (Jun 3, 2009)

CJ21 said:


> Thanks guys, the reason I wont to pay cash, because I don't have any credit. And the bank won't lend me any money.


kinda need credit to run a business...


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## jlsconstruction (Apr 26, 2011)

Why do you guys buy trucks with over 150k?


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## tyb525 (Feb 26, 2013)

Most parts that are gonna need replaced have been replaced by 150k


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## raycgl (May 27, 2008)

These truck prices seem way high, I've bought my last three pickups for under $3,000 (two of them cost $500 or less). I've gotten at least 40,000 miles out of each one with dirt cheap insurance. One ended up needing a new transmission after 20,000 miles but otherwise no drivetrain issues at all.

The parts cost on 90's era trucks is miniscule as well, new master cylinders, ignition coils, alternators, starters, are extremely low and they are easy to repair just following a google search.

I paid $500 for my current truck with 160k on it, drive it 5 to 50 miles everyday and it runs like a champ. I fixed the heat and ac and they work perfectly, got it painted at Maaco for $600 after doing some sanding and bondo work myself and it looks plenty nice for a work truck.


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## Easy Gibson (Dec 3, 2010)

jlsconstruction said:


> Why do you guys buy trucks with over 150k?


I've found care supersedes mileage. 

My Jeep has 260k on it. It's fine. I maintain it. The 4.0 can not be killed with conventional weaponry.


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## CJ21 (Aug 11, 2007)

Credit is nice to have.


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## tyb525 (Feb 26, 2013)

Some people have higher standards than others and might consider a normal work truck junk, so that's why you see guys talking about such high prices. I personally have never paid over 2k for a vehicle, and they aren't junk, they're just not perfect. If you can do your own mechanic work you'll be able to make a cheap vehicle quite a bit nicer with some work.


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## CJ21 (Aug 11, 2007)

I am not a mechanic/  :clap:


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## tyb525 (Feb 26, 2013)

If you can build, you can wrench!


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## mbryan (Dec 6, 2010)

tyb525 said:


> If you can build, you can wrench!


Lone would be using his pasloads, dwb would have makita headlights and Warner would domino panels together...


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## jlsconstruction (Apr 26, 2011)

tyb525 said:


> If you can build, you can wrench!


Yeah, but its 2013 cars are more about computers then turning wrenches. And thy computer costs 50k just to tell you what's wrong.


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## CJ21 (Aug 11, 2007)

I am trying to save up $4000 to $5000 for a down payment on a $11,000 to $12,000 truck.


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## Spencer (Jul 6, 2005)

tyb525 said:


> Most parts that are gonna need replaced have been replaced by 150k


Never thought of it like that before. Interesting...

I bought my 98 F-150 5 years ago with 83,000 miles for $4500. It is a rough looking truck but it does its job and I'm not afraid of scratching it. I am a fan of low miles unless the truck has been very well taken care of, garage stored, no rust. 

I need a 3/4 ton now. Saving as well. $8-10k range is ideal for me.


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## Spencer (Jul 6, 2005)

jlsconstruction said:


> Yeah, but its 2013 cars are more about computers then turning wrenches. And thy computer costs 50k just to tell you what's wrong.


My new washing machine gave me an error code this week. Bad CMU (control motor unit). My wrench doesn't work on that.  Thankfully is still under warranty. Oh for the days of crank knobs and carburetors...


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## tyb525 (Feb 26, 2013)

I've never owned anything newer than a 2001, I guess that's the secret to working on your own...but even then, I've done a few things on newer cars for family, and they're not always hard as long as it doesn't involve the computer..

The secret is to buy a good shop manual for the car, or buy a subscription on alldata.com just for your car. Like $25 or something.


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## Gary H (Dec 10, 2008)

tyb525 said:


> I've never owned anything newer than a 2001, I guess that's the secret to working on your own...but even then, I've done a few things on newer cars for family, and they're not always hard as long as it doesn't involve the computer..
> 
> The secret is to buy a good shop manual for the car, or buy a subscription on alldata.com just for your car. Like $25 or something.


Same here. My newest truck is. 2001 dodge. I told my oldest son that when it reaches 200,000 miles he can have it.


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## CJ21 (Aug 11, 2007)

The reason I wont spend $10,000 or $12,000 is that I will use the truck for work and play.


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## CJ21 (Aug 11, 2007)

How long would it take me to save up $12,000 cash? I only make $9.35 and hour and I get pay every two weeks.


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## The Coastal Craftsman (Jun 29, 2009)

There's nothing wrong with getting credit for a truck. Of course as long as you keep up the payments. I normally sell my vehicles after 3 years and buy new because I don't want the hassle of an unreliable vehicle. I try to get rid of them before the 100k mark and let someone else have the hassle of repairs after that. 

But back to the credit. My issue was I was spending so much on tools there was no way to save a decent down payment unless I waited 3 years. My dodge was running like crap and was costing me a lot of money. It was getting to the 120k mark and I had done about $5k into it so called it a day. It was to unreliable to run a business with. Went and traded that and bought me self a brand spanker. After 3 years it was paid if and is now a $30k trade if I decide to upgrade or even downgrade and put done in my pocket. Not one day in 4 years have I had a vehicle issue and missed days from work. 2 missed days a month is a nice truck payment.


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## Spencer (Jul 6, 2005)

I am a Dave Ramsey fan (money guy.) He always says that the majority of millionaires drive a 2 year old vehicle. A new vehicle is one of the worst investments you can make because of depreciation. A 2 year old vehicle is just as reliable and you don't lose your shirt on depreciation just from driving it off the lot. Vehicle debt is also a no no in most situations. Be diligent about saving and buy what you can afford.


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## The Coastal Craftsman (Jun 29, 2009)

Spencer said:


> I am a Dave Ramsey fan (money guy.) He always says that the majority of millionaires drive a 2 year old vehicle. A new vehicle is one of the worst investments you can make because of depreciation. A 2 year old vehicle is just as reliable and you don't lose your shirt on depreciation just from driving it off the lot. Vehicle debt is also a no no in most situations. Be diligent about saving and buy what you can afford.


That's the case with most cars but not trucks and vans. My truck has cost me less than $3k a year to be in. I also had 3 years free servicing too which many brands now offer. I was also saving over $1500 a year on fuel because it was more fuel efficient. So if you calculate them savings its cost me a little over $1000 a year to own a brand new truck if I sold it today or traded it. Plus zero down time and out of pocket expense. 

To me that's well worth it. 

Don't get me started on Dave Ramsey. The only one who makes money is him by selling his books and DVDs to people. If his system worked so well why are there so many copies for sale used online. My only guess is it didnt work and they are so tight for cash they had to sell his books for $5.


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## Spencer (Jul 6, 2005)

BCConstruction said:


> Don't get me started on Dave Ramsey. The only one who makes money is him by selling his books and DVDs to people. If his system worked so well why are there so many copies for sale used online. My only guess is it didnt work and they are so tight for cash they had to sell his books for $5.


To each his own. In personal finance debt is dumb, cash is king. If it works for you, more power to ya. I'd have ulcers from juggling all the different payments wondering what happens if I fall of a ladder and break a leg causing me to be off work for 6 months.

That statement about Dave Ramsey is childish at best. If you've ever read his books, which I have, you understand that the concepts are very simple, easy to remember, and not complicated to apply. I have no more use for my books either as it is engrained in my mind. Not many people have the discipline to apply them. It requires sacrifice on the short term which is not fun or popular. 

I don't understand your comment about "it didn't work." It is not a get rich quick scheme. It is a system for getting out of debt. There is nothing about it that doesn't work. There is no way it doesn't work. You start paying off debt in baby steps. If you can't, you have an income problem and address that. It only doesn't work in cases where a person has such extreme debt that bankruptcy is the only option in which case it has nothing to do with his system not working.


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## CJ21 (Aug 11, 2007)

I've agree, buying a new truck for $30,000 or $40,000 is not worth the trouble. Because they do depreciation so fast. I am trying to stay under 100,000 miles for a truck.


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## Metro M & L (Jun 3, 2009)

CJ21 said:


> How long would it take me to save up $12,000 cash? I only make $9.35 and hour and I get pay every two weeks.


You gotta fix your income! Good credit then invest in truck then invest in license.

You could wait ten years to save for a truck at 9 an hour.


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## The Coastal Craftsman (Jun 29, 2009)

Spencer said:


> To each his own. In personal finance debt is dumb, cash is king. If it works for you, more power to ya. I'd have ulcers from juggling all the different payments wondering what happens if I fall of a ladder and break a leg causing me to be off work for 6 months.
> 
> That statement about Dave Ramsey is childish at best. If you've ever read his books, which I have, you understand that the concepts are very simple, easy to remember, and not complicated to apply. I have no more use for my books either as it is engrained in my mind. Not many people have the discipline to apply them. It requires sacrifice on the short term which is not fun or popular.
> 
> I don't understand your comment about "it didn't work." It is not a get rich quick scheme. It is a system for getting out of debt. There is nothing about it that doesn't work. There is no way it doesn't work. You start paying off debt in baby steps. If you can't, you have an income problem and address that. It only doesn't work in cases where a person has such extreme debt that bankruptcy is the only option in which case it has nothing to do with his system not working.


Well unlike you I guess I'm dumb because I'm in debt with a house payment! I bought my vehicle on finance and I guess that makes me dumb, I bought nearly all my tools on credit cards that put me in debt because its dumb. Yet after 3 years I owe nothing on any of them and have a nicer house, nicer vehicle, nicer tools and more money in the bank than most people I know. 

There's nothing wrong with credit if you pay it off. I guess I could have saved my self $2k or so in interest if I saved the money to buy everything outright that I have in the last 3-4 years but I would have had to put up with a poor selection of tools, an unreliable vehicle, a stupidly small trailer I couldn't get anything into with no logo on it that gets me a lot of work.


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## CJ21 (Aug 11, 2007)

Metro M & L said:


> You gotta fix your income! Good credit then invest in truck then invest in license.
> 
> You could wait ten years to save for a truck at 9 an hour.


Ya I know, but I don't have any credit, I would like a better paying job but I am afraid to quit this one. I've apply for a credit card, but I aint heard nothing back from them yet.


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## The Coastal Craftsman (Jun 29, 2009)

CJ21 said:


> Ya I know, but I don't have any credit, I would like a better paying job but I am afraid to quit this one. I've apply for a credit card, but I aint heard nothing back from them yet.


I didn't when I first moved to the US. First thing I did was get a cell phone. Keep the payments on time and then 6 months later get a lowes CC. They are pretty good for giving people with poor credit credit cards but it will only be $200-$300 to start with. Use that for a few months and keep it in good standing then get credit for a trailer or tool that's more expensive. After that your next options are car credit and a home mortgage. 

I was also in same position as you with low wages. I worked in a sandwich shop for $7 an hr. I used that money to get my self a cell phone and a few tools. I kept doing this for a few months but money was building extremely slow. I had to make the choice of buy everything on credit and get out this hole or keep working there for maybe 10 years until I had enough cash to start my business. credits not a bad thing and don't be scared to use it to get a kick start in life.


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## NCMCarpentry (Apr 7, 2013)

If you're only making $9 an hour a 12k truck is an irresponsible buy, that's close to a year's worth of pay... If that's all your time is worth you'd be foolish not to learn how to work on your own vehicle as well.


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## CJ21 (Aug 11, 2007)

I got me a cell phone last month.


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## The Coastal Craftsman (Jun 29, 2009)

NCMCarpentry said:


> If you're only making $9 an hour a 12k truck is an irresponsible buy, that's close to a year's worth of pay... If that's all your time is worth you'd be foolish not to learn how to work on your own vehicle as well.


I should hope his pay increases when he gets a suitable vehicle. If it don't then there's no reason to even get a vehicle.


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## CJ21 (Aug 11, 2007)

They say you get a 30 cent raise every year. I work for the local city government they don't pay a decent wage. and they take most of your earnings in taxes and health care cost.


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## CJ21 (Aug 11, 2007)

I also apply for a Amazon credit card since I buy most of my tools from them.


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## The Coastal Craftsman (Jun 29, 2009)

CJ21 said:


> They say you get a 30 cent raise every year. I work for the local city government they don't pay a decent wage. and they take most of your earns in taxes and health care cost.


If that's the case then I wouldn't get a vehicle unless its a way for you to get out of this rut your in working for the city. $0.30 ain't a bad raise a year for government work though. My wife has had $0.00 each year for 5 years lol


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## Spencer (Jul 6, 2005)

BCConstruction said:


> Well unlike you I guess I'm dumb because I'm in debt with a house payment! I bought my vehicle on finance and I guess that makes me dumb, I bought nearly all my tools on credit cards that put me in debt because its dumb. Yet after 3 years I owe nothing on any of them and have a nicer house, nicer vehicle, nicer tools and more money in the bank than most people I know.
> 
> There's nothing wrong with credit if you pay it off. I guess I could have saved my self $2k or so in interest if I saved the money to buy everything outright that I have in the last 3-4 years but I would have had to put up with a poor selection of tools, an unreliable vehicle, a stupidly small trailer I couldn't get anything into with no logo on it that gets me a lot of work.



To each his own. I'm going to try and keep my mouth shut.


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## The Coastal Craftsman (Jun 29, 2009)

Spencer said:


> You don't have a nicer house. The bank does.
> 
> You don't have a nicer vehicle. The bank does.
> 
> ...


I don't need to pay of my truck as it was paid off over a year ago. I done it over 5 years but paid it of in 32months. 

And if course I didn't pay cash for my house. Did you? I don't know anyone who has and have never meet anyone who has. Let me guess Dave Ramsey followers have lol

If I done what you think is best I would still be making sandwiches driving a vehicle which was costing me money each month and living at my wife's parents house. 

$1000 a month don't go far after fuel, living expenses, vehicle insurance, vehicle issues and trying to buy tools. I was left with less than $200 a month savings. That would have taken me about 10 years to save $20k at that rate.


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## CJ21 (Aug 11, 2007)

The only reason I wonted a vehicle was to start me a carpentry business so I can quit the city.


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## The Coastal Craftsman (Jun 29, 2009)

CJ21 said:


> The only reason I wonted a vehicle was to start me a carpentry business so I can quit the city.


That's a good reason to get a vehicle then.


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