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Heavy 5.7

Anyone else pay cash for their truck?

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Recently purchased a 2013 Sierra SL ECSB with 23k for 25k (well $25,252) out the door. Driving by one day I saw the truck on the dealers lot and stopped in we talked for about half an hour discussed pricing on the truck first then my trade and...done. My inspection consisted of a walk around, opening the hood and a 2 mile drive to the local Lowes for another quick walk around. In my past life I was a pretty damn good mechanic and can sense a beater from far away, this truck sans odometer could pass for new. lol

More than satisfied with the SL option group because I don't have to worry about stuff I don't want anyway failing or otherwise going haywire. I'll admit I'm proud of myself for saving the coin to simply walk in and buy this truck but I'm still jealous of people that can purchase six figure homes with cash, maybe some day...

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Its all relative where you want to park your cash. I chose to use it in other areas and borrow someone elses money at 2.5%. I feel strongly that I can make more than 2.5% on my cash so I'll put it in those avenues. But there is some satisfaction that comes with no car loan. Congrats

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Walked in made a cash offer, when I saw his eyes open wide I knew I had him on the line. Paid cash, truck is mine no bills to pay.

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I just can't shell out that kind of money when I can get 0 per cent with discounts. I don't think I'll buy new anymore with the deals I've seen with certified pre own, maybe it will make sense to pay cash then.

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My friend always pays cash, says he can't afford the payments. :lol:

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Three things I always pay for with cash. Trucks, guns, and trips to the Bunny Ranch.🐰

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My dealer allow me to pay the total amount with credit cards. Got a lot of points on my cards and paid them off when they came due.

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I buy used and pay cash. :happysad:

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If you listen to the Dave Ramsey program, he recommends you to purchase everything with cash. It is amazing the people on his show that have paid off everything in such little time and are debt free. I guess is all depends on how you want to live.

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I live that type of life and listen to his show. I believe in credit cards for several reasons mostly security rather than debit cards. If someone going to give me 0 per cent with no strings I'll take it.

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For the last 10 years or so I have paid only cash. However, given relatively low interest rates and the opportunity cost, I might consider financing. That said, there is something that bothers me about financing/paying interest on a depreciating asset. It all about how you want to allocate your resources.

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I know the reasoning behind not using credit cards. But it's hard to turn down free money when I can use my credit card and get cash back.

 

The key is to have a budget and stick to it.

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Nothing at all wrong with using credit cards responsibly. I pay my tab in full each billing cycle and use the banks money for free in the interim. The problem I have with borrowing huge sums of money is if something happens to your financial situation how will that debt be re-paid? I sleep much easier at night not having to worry about it.

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My dealer allow me to pay the total amount with credit cards. Got a lot of points on my cards and paid them off when they came due.

Watch out for FEES most dealerships will add a pretty steep processing fee to the charge amount if you use a credit card. Last time I asked about using a credit card to pay the difference on my tradein deal at a local dealership they were adding 10%!!!!!! I was interested in getting my 1% back on my rewards card but unwilling to pay 9% to get 1% LOL

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