60k becomes 70k after dealer warranties. For a first truck there’s a lot of loaded options around 36,000 you can buy. Then they retain value well so you can switch it up in no time. The longer I drive a truck the more I realize they are the nicest on the road. They stand out in so many ways. I always wanted a mustang as a kid, but as I grew older I realized a mustang is only good for the summer and can’t really do anything else for you. So I got a truck with a 5.0 instead, hard part with trucks is to get any comfort features you often have to shell out more cash.
Who I feel sorry for are the contractors and other trades people who NEED a 2500/3500 crew cab series truck for business, double down if they tow equipment and need a diesel. Insane prices on those trucks, even used with 250k+ miles.
I feel like the middle option never gets addressed. You don’t have to drive either a rust bucket or a 60k+ truck. I just bought a new base trim 4x4 Tacoma for $29k OTD. Could I have bought a loaded Denali in cash, yes. But I like keeping my money in appreciating assets. I ALSO like having a safe reliable truck that goes vroom every time I turn the ignition. Never fully understood how so many people will pay 2x for a fully loaded model over the base model.
After saving and grinding to payoff house and everything it’s really hard to save and buy .We have been getting caught up on remodeling and helping others .Hard for us to save for newer vehicles.
I'd really like some advice. Have a 2018 truck with 40k. Annual income is around 160k. Should I roll my equity into a new truck while the rates from Ford are 2.9? Currently mine is 3%
We don’t know his age or living expenses. Dave is calling the truck a toy. In my mind, it’s his transportation. I think he should replace the rust bucket with a decent truck, but I think 5 percent of their net worth is too much. Things to consider: They’ll want to enjoy other things, too; it’s just a car, and can be wrecked, and WILL be door dinged; it is annoying to pay for a major item that isn’t what you want because you wouldn’t spend quite enough money; at a certain age, people who have the money should get the truck and enjoy it while they can.
Not enough info. What’s the composition of his NW and how old are they. $120k income with $1.2 mil NW may not be that great of a position depending on other variables not shared. Though if this is his current NW, after the latest market sell offs, then he could be in a descent position depending on how much he has in investments.
@@Fatheroftheyear12 oh for sure, I test drove one, it is tiny, it has a decent number of standard features and the mpg is great. It’s the perfect truck for a weekend warrior. But you probably know guys, just like I do, that have a big honkin truck that don’t pull anything (camper, boat, work trailer, horse trailer, etc) and just like having a truck, these same guys take out ridiculous loans for these things and they can’t even afford it. I have a ranger and I really like it, I also have an old f250 as my work/plow truck and have recently sold my transit medium roof as my work van.
Wait until he checks the prices on used vehicles. There are no bargains. Howvwer, what ever you buy will depreciate less than before. The chip shortage will continue and the Ukraine situation will not help. Good luck. Nexr question is what color?
I don’t know bout you guys but even if I had 10 million dollars in my bank account, best believe if I remember leaving a $20 bill in my pockets during laundry, I’m asking my Wife if she found it
What would he need a truck to do? He should get an estimate of what it calls to fill up a monster truck and let that help guide his decision. Also, why are his friends weighing in on what he should spend his money on? It's generally not a great idea to broadcast 'how well you're doing' with everyone you know.
Not really. It's obviously harder to do the older you get before you start saving, but is still very possible starting in your 30s, or in even in your 40s if you have above-median income.
it matters, because if you purchase smart youll get everything you where gonna get in that same amount of time but youll also have extra money left over from not paying all kinds of interest.
He's telling him to enjoy it. If you never enjoy it, what is the point. Remember? "Live like no one else, so that later you can live like no one else". He's in the "later" portion now.
This is the FIRST time in humanities history of cars and trucks actually going UP in value. It's not like this is a common thing and it is not likely to happen again. So calm down kid...you'll be ok
@@alinatamashevich3354 Yes...they normally are. And this whole thing of " now many or most automobiles are all of a sudden worth 40 and 50% more than they are or should be" is only temporary So overall..YES..i completely agree with your point. History has proven your point to be correct because 99.99% of the time anything on wheels suffers some form of damage FAR more often than a..say...HOUSE..built on a solid foundation ( not a mobile ..mind you)
@@alinatamashevich3354 A depreciating asset is not a "liability." An asset is anything that has future value. A truck is an asset. The loan used to finance it is a liability.
He needs to buy a new phone before he buys a truck
😂😂
I was thinking of making a comment about the poor audio quality
😃
😂😂😂this made me laugh more
than it should’ve
He definitely saved his money
Would I spend $60k on a new vehicle? No. Can this guy afford to do it? Absolutely.
Never show or tell people how you are doing financially. It keeps the leaches away
Ken is like….Dude I can’t understand you buy a new Phone first haha
60k becomes 70k after dealer warranties. For a first truck there’s a lot of loaded options around 36,000 you can buy. Then they retain value well so you can switch it up in no time. The longer I drive a truck the more I realize they are the nicest on the road. They stand out in so many ways. I always wanted a mustang as a kid, but as I grew older I realized a mustang is only good for the summer and can’t really do anything else for you. So I got a truck with a 5.0 instead, hard part with trucks is to get any comfort features you often have to shell out more cash.
Who I feel sorry for are the contractors and other trades people who NEED a 2500/3500 crew cab series truck for business, double down if they tow equipment and need a diesel. Insane prices on those trucks, even used with 250k+ miles.
Yep that’s the cruddy thing about living on a farm and being in baby step 2.
I feel like the middle option never gets addressed. You don’t have to drive either a rust bucket or a 60k+ truck. I just bought a new base trim 4x4 Tacoma for $29k OTD. Could I have bought a loaded Denali in cash, yes. But I like keeping my money in appreciating assets. I ALSO like having a safe reliable truck that goes vroom every time I turn the ignition. Never fully understood how so many people will pay 2x for a fully loaded model over the base model.
Just bought a 2016 Nissan Frontier for 14,500.00. 70K miles.
@@alinatamashevich3354 u paid cash?
Especially how much are in these base vehicles.
@@musicpro7278 Yes. My credit is no good...LoL
@@musicpro7278 It needs some TLC. A good clean up and a few mechanical issues, but solid truck.
After saving and grinding to payoff house and everything it’s really hard to save and buy .We have been getting caught up on remodeling and helping others .Hard for us to save for newer vehicles.
$60k is an XLT nowadays 😂
Yes it is
I'd really like some advice. Have a 2018 truck with 40k. Annual income is around 160k. Should I roll my equity into a new truck while the rates from Ford are 2.9? Currently mine is 3%
Interesting...a first time call asking the Papa for approval for a "vee-hickle" purchase. 🤣
"vee-hickle" hahahahaha
60k is still 5% of their net worth. It's still a decent chunk. The last time Dave was worth 1.2 million that was a lot of money. Now it's not.
We don’t know his age or living expenses. Dave is calling the truck a toy. In my mind, it’s his transportation. I think he should replace the rust bucket with a decent truck, but I think 5 percent of their net worth is too much. Things to consider: They’ll want to enjoy other things, too; it’s just a car, and can be wrecked, and WILL be door dinged; it is annoying to pay for a major item that isn’t what you want because you wouldn’t spend quite enough money; at a certain age, people who have the money should get the truck and enjoy it while they can.
Since 1 million in your words is not much, cut a check for that a amount, mail it to St Judes, Memphis TN.
@@alinatamashevich3354 No.
@@robloxvids2233 Didn't think so
Even a 30k-40k truck gets a really good used truck if they can't justify 60k on a new one.
For this guy, it really doesn't change the situation. He should buy what he wants.
@@mph5896 agreed. But if its the 60k thats holding him back, there are cheaper alternatives.
Heck the brand new Ford maverick is under $20,000 starting, unheard of for a new pickup truck...
Trucks are super expensive normally but in todays market they are completely insane, next truck 5-7 years Tesla truck maybe
Lol gets you a bench seat 5 yearold truck with 90k miles.
That's it....I'm telling my wife we're getting a new truck....
Should probably put some more money back if he’s waiting for his government pension. OPM is relatively slow at getting pension payments going.
You missed his net worth
Not enough info. What’s the composition of his NW and how old are they. $120k income with $1.2 mil NW may not be that great of a position depending on other variables not shared. Though if this is his current NW, after the latest market sell offs, then he could be in a descent position depending on how much he has in investments.
The touchdown-dance lol
$60k will get you a pretty nice brand new F150. Go for it, man. Unlike many who say they deserve something, you and your wife actually DO!
You can get a decent one for $45 new or a ranger for $35 new. Or a maverick for $25 new (if you can find it). $60 is a lot for a single vehicle
@@johnnyhoang4444 A Maverick is barely a truck
@@Fatheroftheyear12 oh for sure, I test drove one, it is tiny, it has a decent number of standard features and the mpg is great. It’s the perfect truck for a weekend warrior. But you probably know guys, just like I do, that have a big honkin truck that don’t pull anything (camper, boat, work trailer, horse trailer, etc) and just like having a truck, these same guys take out ridiculous loans for these things and they can’t even afford it. I have a ranger and I really like it, I also have an old f250 as my work/plow truck and have recently sold my transit medium roof as my work van.
Buy a slightly used truck at $45k and enjoy! You’ll have an upgrade and will be able to sleep well knowing you didn’t buy brand new.
Isn’t his house in the net worth? Not necessarily in cash stocks and mutual funds.
Wait until he checks the prices on used vehicles. There are no bargains. Howvwer, what ever you buy will depreciate less than before. The chip shortage will continue and the Ukraine situation will not help. Good luck. Nexr question is what color?
I don’t know bout you guys but even if I had 10 million dollars in my bank account, best believe if I remember leaving a $20 bill in my pockets during laundry, I’m asking my Wife if she found it
Shawn can make the money back up in 6 months 😂
What would he need a truck to do? He should get an estimate of what it calls to fill up a monster truck and let that help guide his decision. Also, why are his friends weighing in on what he should spend his money on? It's generally not a great idea to broadcast 'how well you're doing' with everyone you know.
Why not? His money he can spend the ways he wants. I am sure he realize what the gas mileage is on a truck. He is driving a old truck now.
Shawn Go buy it now if you dont I'll be mad 🤣🤣Enjoy it.
deployment+military+jarhead=newtruck
Yeah so " net worth" is all things.. including the home live in
Why not buy a 2 year old truck and save about 10k?
Used trucks are worth more in 2022
Want a truck, not buying a truck.
But what does his wife say?
If it’s not a tundra it ain’t worth it new.
Why a truck? For the .00001% chance he might actually need a truck?
It's cheaper to keep her but 70% of the time women file.
Bro, just go buy a used one for gods sake!! You dont need a brand new truck.
How many people are going to accumulate a $1 million net worth on their own? If you didn't start saving at 21 you're dreaming.
BTW, I'm not in debt other than a cheap mortgage that I could possibly pay off, but my savings would be depleted.
Not really. It's obviously harder to do the older you get before you start saving, but is still very possible starting in your 30s, or in even in your 40s if you have above-median income.
You don't
If you can afford it, buy it.
End of story. So what what anyone says.
it matters, because if you purchase smart youll get everything you where gonna get in that same amount of time but youll also have extra money left over from not paying all kinds of interest.
To a broke joke like you, debt makes sense. Enjoy your Alpo retirement
Unless his current is belly up, I would probably wait another year or so.
Now Dave is telling him to give his money away?
He's telling him to enjoy it. If you never enjoy it, what is the point. Remember? "Live like no one else, so that later you can live like no one else". He's in the "later" portion now.
@@Takar100 He is also telling him to give some away.
@@saulgoodman2018 That is called charity, something you have NO clue about! Broke jokes like you will never understand it.
Butthead Dave says cars and trucks go down in value. Oops, he's wrong again. They are going up in value by 50%.
This is the FIRST time in humanities history of cars and trucks actually going UP in value.
It's not like this is a common thing and it is not likely to happen again.
So calm down kid...you'll be ok
Nope, they are a depreciating asset. AKA: a liability
In trade.
@@alinatamashevich3354 Yes...they normally are. And this whole thing of " now many or most automobiles are all of a sudden worth 40 and 50% more than they are or should be" is only temporary
So overall..YES..i completely agree with your point. History has proven your point to be correct because 99.99% of the time anything on wheels suffers some form of damage FAR more often than a..say...HOUSE..built on a solid foundation ( not a mobile ..mind you)
@@alinatamashevich3354 A depreciating asset is not a "liability." An asset is anything that has future value. A truck is an asset. The loan used to finance it is a liability.