Texas SOT

Big Boys and Their Toys

The #1 community for Gun Owners in Texas

Member Benefits:

  • Fewer Ads!
  • Discuss all aspects of firearm ownership
  • Discuss anti-gun legislation
  • Buy, sell, and trade in the classified section
  • Chat with Local gun shops, ranges, trainers & other businesses
  • Discover free outdoor shooting areas
  • View up to date on firearm-related events
  • Share photos & video with other members
  • ...and so much more!
  • birddog

    bullshit meter
    Rating - 0%
    0   0   0
    Mar 4, 2008
    3,599
    96
    nunya
    YG,

    Years ago, at my former company, we had an auto finance guy come in and school us on how auto financing works. In essence, those who must finance are hosed. The interest the finance company garners is staggering.

    If he told you how auto financing works and was honest, he told you that new car dealerships have a financial incentive to close deals at the highest allowable interest rate that the buyer will accept. Buyers that depend on dealer financing to purchase a vehicle typically have low credit scores and no other alternative or they'd have a line of credit pre-approved before shopping.
    Hurley's Gold
     

    TheMailMan

    TGT Addict
    Rating - 100%
    4   0   0
    Dec 3, 2015
    3,428
    96
    North of Kaufman
    When we moved here in 2014 I knew I would need a truck to haul my boat around.

    I found a 2013 Ram 2500 Cummins at Randall Noe. They had it advertised at $41K. I went in and test drove it. Told them I wanted it. First sheet they came up with was $56k. I told them they had it on the internet for $41k and that was what I was going to pay. They came back with a second sheet at $51k and told me I didn't qualify for all the discounts on the internet price. I got up and started to walk out.

    I didn't make it to the door when the next level guy comes running up to me. Wanted to know why I was walking out. I told him, he asked me to sit down and he'd be back. He came back with a sheet at $47k and the song and dance about the discounts.

    I got up and walked, my wife was at Tractor Supply next door. I made it about half way to TS when five people came running out of Randall Noe's. One of them asked why I walked and I told him that he knew why I walked. He told me he could sell me the truck at $41k. I told him too damn late as they had their chance. I took a few more steps, he asked how they could make this deal work. I told him $39K, that was rock bottom dealer price for the model and trim level. He said ok.

    Went to the F&I guy and I sat down and told him I could get 1.49% financing from my credit union. He gulped and said he would see what he could do. He found 1.65% and told me he would cut me a deal on the extended warranty. I told him that if he could sell me the extended warranty for $1650 I'd take it. He looked at me and asked me where I found that price. There was a dealership on the east coast that was selling them for that. I handed him my phone with their website on it.

    I told him since he was so nice and tried so hard I'd go with the 1.65% financing he found.

    All and all I'd have to guess that they made maybe $500 on the sale. The sticker in the window was $59k. They had been sitting on that particular truck almost a year. It was a 2013 built in June of 2013 and I bought it in May of 2014.


    The moral to the story is the markup on a new truck is HUGE. Around the end of the model year you'll see trucks marked down around 30%, even more if there's a new generation of truck coming out. They are still making plenty of money at 30%.

    If you're going to finance it have pre-approved financing. Make them match it or beat it. If you want the extended warranty research what they're selling for on the internet. Make them meet it or beat it. NEVER pay more than 75% of sticker on a new truck.

    Right now USAA is offering 3.04% new car loans, our local credit union is 3.79%, and our credit union in Portland is offering 3.74%.

    Most important. It's a damn truck. It doesn't need a heated steering wheel and all that crap. Rubber floor mats, and cheap seat covers is all ya need. If ya want to ride in luxury buy a Tahoe.
     

    baboon

    TGT Addict
    Rating - 100%
    4   0   0
    May 6, 2008
    22,447
    96
    Out here by the lake!
    I remember walking out of a dealership & a salesman ran up behind me putting his hand on my shoulder. I turned & told him a move like I wouldn't shoot him but pistol tipping wasn't out of the question. Them retards called me for a week even after I told them to late I have all ready bought my truck on my terms elsewhere!
     

    birddog

    bullshit meter
    Rating - 0%
    0   0   0
    Mar 4, 2008
    3,599
    96
    nunya
    When we moved here in 2014 I knew I would need a truck to haul my boat around.

    I found a 2013 Ram 2500 Cummins at Randall Noe. They had it advertised at $41K. I went in and test drove it. Told them I wanted it. First sheet they came up with was $56k. I told them they had it on the internet for $41k and that was what I was going to pay. They came back with a second sheet at $51k and told me I didn't qualify for all the discounts on the internet price. I got up and started to walk out.

    I didn't make it to the door when the next level guy comes running up to me. Wanted to know why I was walking out. I told him, he asked me to sit down and he'd be back. He came back with a sheet at $47k and the song and dance about the discounts.

    I got up and walked, my wife was at Tractor Supply next door. I made it about half way to TS when five people came running out of Randall Noe's. One of them asked why I walked and I told him that he knew why I walked. He told me he could sell me the truck at $41k. I told him too damn late as they had their chance. I took a few more steps, he asked how they could make this deal work. I told him $39K, that was rock bottom dealer price for the model and trim level. He said ok.

    Went to the F&I guy and I sat down and told him I could get 1.49% financing from my credit union. He gulped and said he would see what he could do. He found 1.65% and told me he would cut me a deal on the extended warranty. I told him that if he could sell me the extended warranty for $1650 I'd take it. He looked at me and asked me where I found that price. There was a dealership on the east coast that was selling them for that. I handed him my phone with their website on it.

    I told him since he was so nice and tried so hard I'd go with the 1.65% financing he found.

    All and all I'd have to guess that they made maybe $500 on the sale. The sticker in the window was $59k. They had been sitting on that particular truck almost a year. It was a 2013 built in June of 2013 and I bought it in May of 2014.


    The moral to the story is the markup on a new truck is HUGE. Around the end of the model year you'll see trucks marked down around 30%, even more if there's a new generation of truck coming out. They are still making plenty of money at 30%.

    If you're going to finance it have pre-approved financing. Make them match it or beat it. If you want the extended warranty research what they're selling for on the internet. Make them meet it or beat it. NEVER pay more than 75% of sticker on a new truck.

    Right now USAA is offering 3.04% new car loans, our local credit union is 3.79%, and our credit union in Portland is offering 3.74%.

    Most important. It's a damn truck. It doesn't need a heated steering wheel and all that crap. Rubber floor mats, and cheap seat covers is all ya need. If ya want to ride in luxury buy a Tahoe.

    That's the way to roll, you could apply that concept to every aspect of life. Invest time in aquiring the knowledge to act rationally in all aspects of life. aving money is just icing on the cake :)

    Ask yourself, the decision I make at this moment, will it matter a year from now? When it comes to money, the answer is predictable.
     

    Brains

    One of the idiots
    Rating - 100%
    3   0   0
    Apr 9, 2013
    6,904
    96
    Spring
    There's usually incentives to the dealer for writing a car loan, even at 0% interest. Don't hesitate to ask for some of that money in the deal. Sometimes they'll work the opposite way though - in order to "get" 0% you have to forego some other factory to dealer incentive. It's just a bargaining tool, you can work with them there as well.

    The smart money on higher cost vehicles is usually to write the loan at 0% and give up some of the sale price, versus taking the loss in earning/interest/dividend potential on the same amount of cash coming out of your account.
     

    toddnjoyce

    TGT Addict
    Rating - 100%
    4   0   0
    Sep 27, 2017
    19,285
    96
    Boerne
    ...
    The smart money on higher cost vehicles is usually to write the loan at 0% and give up some of the sale price, versus taking the loss in earning/interest/dividend potential on the same amount of cash coming out of your account.

    I’ll argue the smart money on a higher-priced vehicle is to let someone else eat the depreciation and purchase it 8- 13 months old and still in warranty, from an off brand dealer.

    It’s work and requires patience, but it’s an easy way to save 50+%.
     

    F350-6

    TGT Addict
    Lifetime Member
    Rating - 100%
    2   0   0
    May 25, 2009
    4,237
    96
    I'm another in the boat of, 100k on a vehicle isn't that much anymore. Even for Chevy, they usually don't start showing problems till around 185k or so. At the rate it sounds like you drive, that's still a long way off.

    I handed down my 02 to my son in law when I only had 560k on it. I had a torn meniscus and the clutch was giving me some problems and the new 17 Fords had come out and I discovered the new boxed frame meant they're 7' tall. Plus they have the smaller cab of the F150 so I grabbed a 16 when the lot had a bunch of 17's on it. I've got almost 100k on it already.

    As for the diesel trucks, the advantages they've historically had are starting to go away. Then again, I hear sometimes the DPF and stuff falls off these newer trucks and some of the benefits start to come back.
     

    birddog

    bullshit meter
    Rating - 0%
    0   0   0
    Mar 4, 2008
    3,599
    96
    nunya
    There's usually incentives to the dealer for writing a car loan, even at 0% interest. Don't hesitate to ask for some of that money in the deal. Sometimes they'll work the opposite way though - in order to "get" 0% you have to forego some other factory to dealer incentive. It's just a bargaining tool, you can work with them there as well.

    The smart money on higher cost vehicles is usually to write the loan at 0% and give up some of the sale price, versus taking the loss in earning/interest/dividend potential on the same amount of cash coming out of your account.

    You could undermine negotiations in sale price by making concessions on anything other than exactly what you want. And how much you're willing to pay.

    I walk into a dealership, I know exactly what I want, what I'm willing to pay, and have financing squared away at a negligable rate. I've picked up the phone on the desk of a salesman that was a jackass and bought a vehicle from a competing dealer with a preapproved line of credit. They want to play games, fkn aye, lets play.

    Stupid everywhere. I can fix that shit real quick ")
     
    Last edited:

    birddog

    bullshit meter
    Rating - 0%
    0   0   0
    Mar 4, 2008
    3,599
    96
    nunya
    I’ll argue the smart money on a higher-priced vehicle is to let someone else eat the depreciation and purchase it 8- 13 months old and still in warranty, from an off brand dealer.

    It’s work and requires patience, but it’s an easy way to save 50+%.

    Yep, few folks see it that way but thats a good example of being smart with your money.

    Smart money ain't worth much if you're not smart enough to use it properly.

    This is the boat I am in. Renting but finally in a position to buy.

    No sense paying rent until prices fall as that will cost me more in the long run.

    May as well pay the higher price now and put the payments into my own place.

    You're in a much better position financially than the vast majority of folks with fancy houses, cars, etc. And massive debt. Don't beat yourself up for not "owning" a home, ownership is a double edge sword in Texas. We have an income tax. Just labeled differently. With county oversight. That's some seriously fkd up shit.

    $27k a year. To retain ownership of a homesteaded property thats been bought and paid for years ago. It's extortion. I don't pay, I'll lose the property. The ISD I pay taxes to has a seriously over inflated sense of self worth. A HS with shit that even the Dallas Cowboys don't have. They are greedy, money grubbing fktards. 2000+ students in the ISD? Its fkn rediculous. And should be criminal.

    They do it to build their little kingdoms, justify raising taxes with inflated appraisal bullshit to maintain their kingdom despite additional tax revenue aquired through development, and rule it with an iron fist. More and more, and every year, it's never enough.

    $27k would pay rent on a nice apt. No mowing, no yard work, no hot water heaters blowing up at 3am, no....... it sucks
     
    Last edited:

    Dawico

    Uncoiled
    Lifetime Member
    Rating - 100%
    14   0   0
    Oct 15, 2009
    38,007
    96
    Lampasas, Texas
    I’ll argue the smart money on a higher-priced vehicle is to let someone else eat the depreciation and purchase it 8- 13 months old and still in warranty, from an off brand dealer.

    It’s work and requires patience, but it’s an easy way to save 50+%.
    Quoted for truth. Let the previous owner take the hit and deal with any bugs that come up.

    The lots are full of 2 year old vehicles with 20k on them for at least 1/3 off new prices.
     

    ROGER4314

    Been Called "Flash" Since I Was A Kid!
    Rating - 100%
    1   0   0
    Jul 11, 2009
    10,444
    66
    East Houston
    I read through this thread in a state of shock! My Gxd, do you folks actually carry that much debt? I have never owned a vehicle that cost that much in my life!

    I have a pittance left on my mortgage but only because I refinanced the loan and have a balance of $200 on a single "hobby materials" CC that I pay off every month. That's it!

    People who offer you credit, are NOT your friends! Just say NO!

    Flash
     

    SQLGeek

    Muh state lines
    Rating - 100%
    4   0   0
    Sep 22, 2017
    9,591
    96
    Richmond
    Quoted for truth. Let the previous owner take the hit and deal with any bugs that come up.

    The lots are full of 2 year old vehicles with 20k on them for at least 1/3 off new prices.

    That's how we bought my wife's expedition. A few years old with 18K on the odometer. We got the highest level trim package and it was a ton cheaper than if we had bought new. It was still under factory warranty too.

    We are around 115,000 on it now and have had if for a little over 5 years. We've had to have a few things fixed on it but we own it free and clear and plan on pushing it to at least 200,000 as long as the power train holds up. In the meantime we're saving toward its eventual replacement.
     

    birddog

    bullshit meter
    Rating - 0%
    0   0   0
    Mar 4, 2008
    3,599
    96
    nunya
    I read through this thread in a state of shock! My Gxd, do you folks actually carry that much debt? I have never owned a vehicle that cost that much in my life!

    People who offer you credit, are NOT your friends! Just say NO!

    Onlly debt is AG land, in TX and KS. I used it as security for a large seven figure loan an excellent rate. The cash from the loan was used entirely for the purpose of an investment opportunity that had to be acted on quickly. We're getting 16% to 18% a year, Tax benefits offset capital gains tax on the income which is always a good thing. Like I said, my old man is smart.

    EOY after tax profits on corn have varied, rain, etc but I get crop ins and income is around $160-$320k after servicing the debt. CoOP minimizes the capital expenses to farm it, corn subsidies and CRP has also provided decent income when we've left it fallow per the program requirements. Monthly recurring is crop ins, fuel, maint, labor.

    0% interest for X number of years?

    That's aint no friend, that's a sugar daddy, best kind in my book. Aint gotta worry about no peter puffin to get it. Good thing cause thhat SHO anint gonna happen for damn sure.
     
    Last edited:

    birddog

    bullshit meter
    Rating - 0%
    0   0   0
    Mar 4, 2008
    3,599
    96
    nunya
    Most of the comments above are in line with the fact that buying trucks is a personal thing and everyone has their own approach. I am 70 years old and after I turned 25 I never bought a used vehicle, seldom financed and always used internet tactics of playing one dealer against the other for the best deal after getting the true vehicle costs from Edmunds.com. With that said, the prices have for loaded trucks have gone up 75% to 85% in the past 10 years. I used to walk though the new truck lot of a Dodge dealer three years ago on my way to the coffee shop and I can't tell you how many loaded RAM 4WD diesels I saw in the lot that were pushing $70K then in 2016. The truck I have been looking at is a fully loaded 2019 Silverado 1500 High Country 4X4 kind of like the white one at the top of the page below:

    https://www.peltierchevy.com/Vehicl...n=4WD&displacement=6.2&transmission=Automatic

    I guess the old days are gone, kind of like gas at less than $1 a gallon

    My old mans new loaded truck cost $12k oout the door. In 1975.

    He almost 90, he could probablly buy a good sized mega yatch :) if he sold his land but wont do it and gets pissed at the suggestion. It's in the family trush, probate cant touch it.

    Only debt he has is ranching annd farming expenses, AG has significant tax benefits for AG so he doesnt worry about it.
     

    Brains

    One of the idiots
    Rating - 100%
    3   0   0
    Apr 9, 2013
    6,904
    96
    Spring
    I read through this thread in a state of shock! My Gxd, do you folks actually carry that much debt? I have never owned a vehicle that cost that much in my life!

    I have a pittance left on my mortgage but only because I refinanced the loan and have a balance of $200 on a single "hobby materials" CC that I pay off every month. That's it!

    People who offer you credit, are NOT your friends! Just say NO!

    Flash
    Depends on how you factor that debt. Yes, I have loans and a mortgage. But, I also have more cash and investments than the amount of that debt.
     

    Dad_Roman

    TGT Addict
    Rating - 100%
    1   0   0
    Apr 1, 2018
    6,301
    96
    Teague
    Quoted for truth. Let the previous owner take the hit and deal with any bugs that come up.

    The lots are full of 2 year old vehicles with 20k on them for at least 1/3 off new prices.
    Thats how we go about it. I drive a 97 Silverado with 225 on it, puttin a new front end under it. Bought mamma a 2005 Armada in 2006 and gave 25 for it with 12K on it. It now has 190K on it and havent ever touched it other than the occasional battery and keeping the oil changed regular.

    Considered a new Honda or Silverado but lookin at pricing? ...no farkin way.

    ...and I know better, car salesman from a long time ago in a galaxy far far away.

    .
     
    Top Bottom