True, 6 years is a long time, but I double my payments whenever I can...

 

With 0% interests it doesn't matter how long the term is you are never going to pay an extra dime than the amount on the bottom line. Every dime you throw at that truck goes to the principle, set it for 72 Mos and pay it as if it was a three year loan with interest, say 400-500 bucks a month ( my level II was 600 a month on a three year loan). That baby will be paid off in no time while it is still worth something, But if you have a bad month or you have to buy your girlfriend a New Gold tooth, you can pay the minimum for that month. Just don't make it a habit.

~HJ

 

That is what I do and if I get in a bind have do not have to pay a big
payment

 

yeah 0% is a wonderful thing... i have been ahead on my truck since 1 year after i had it

 

Ehhh, I'm kinda thinking about keeping her, I dunno...I'm going to the dealership to look!!!

 

no way in hell youll qualify for 0% at 18 though, and your parents have better used their credit cards a ton and never had a balance for them to get it too.. i wouldnt execpt to get the 0% unless your really lucky or know some people....

 

Never having a balance on your credit card does nothing for your history, It sounds backwards but it is true, same with paying a loan off earlier than two years. They need to show a steady abiliy to make payments, to move up in points. I work with a Guy who is 25 and has no credit, and won't do anything but pay cash. He has a credit card but he pays it off everymonth. and his crdit rating goes no where. I keep telling him unless he wants to live in his parents basement for the rest of eternity he needs to start building his credit, other wise he will never buy a house.

~HJ

 

sounds like a winner, but watch out for the insurance rates, because a 4x4 will sky rocket the current payments.

Also, what dealership is this, Sawgrass ford?

 

keep it why kill your self with new payments and be upside down any more than you are and trust me the dealer ship is not going to loose money on that deal they will just add it on to your bill

dont get me wrong i allmost did the same thing in december and i would have loved to get the new sport with the 4.0 plus i was not upside down
i just thought about it and decided the only real way to get your money out of it is to drive the wheels off it

what realy kills me is to see all these people on these forums getting screwed with the price they payed or finance charges they got
some of you owe more then what i payed for my truck new and there the same age or older
but thats the dealerships that is screwing every one because they make it sound like you got such a nice deal

be becareful you dont make a mistake jumping it to it

 

what do you do for work at 18 that you can afford going from paying off 14k topaying off 23k, pay a higher premium on insurance and still afford a superlift and new wheels and tires???

are they hiring?

 

You can go that route..... or you can take the rebates (yes one or the other is the way Ford has it).

Take the rebates.

If your buying an 06 find a scratch and save coupon for $750 off any new 2006 ford. Actually, that offer may have expired. But regardless, find some "private" offers. I think you said you are in school, they give students an additional $500 off.

 

i should have said paying the balance off at the end of the month to not have it late...

 

Sorry, I just hear people all the time that try and build their credit buy never taking out loans and paying their credit cards off every month, not realizing that it's actually not helping it.

~HJ

 

I find it hard to believe that it doesn't help AT ALL. I pay off my credit card every single month, never had a balance carried over. I have also had a loan that I paid off within 6 months. My credit score is 710 (10 points less than needed to automatically qualify for 0% financing on chevies... yes chevy ).

If you know anything about credit scores that is a damn good score for a teenager to have.

 

Not true-my mom has 0% 60months through ford credit, her credit is horrible. I think it is lower than mine.

I should qualify for it, my credit is 631 right now, and nothing negative. I went to sawgrass ford and qualified for 21k. They didn't want to give me anything until I had a paystub from my current occupation and also the YTD $ had to be a certain #.

Car sales are a lot different than anything else. From what I hear, companies aren't very strict with credit on cars because it is a collateral..you can reposess a car. It's not like a credit card where you can repo your olive garden dinner...


I heard about that...

It's at Maroone ford BTW, the one in margate




Chipotle Mexican Grill. I'm now a supervisor training for SM (service manager). I make anywhere from 1200-1600/month now (11/reg pay 16.50 ot). (money varies from overtime/hours worked) My truck payment/insurrance is almost 600 a month now. I don't have any other expenses besides for cell and card (both combined are under 100 dollars).

I have a little bit of money saved up for the wheels/tires...superlift would definetly come later, but it doesn't take me that long to save up money. I have an extra 500/month right now at the end of the month after everything is paid for...so figure 2-3 months and I got a superlift...couple months later wheels/tires. Plus I do have a little savings right now b/c I haven't spent much the last 2-3 months.

Heres one thing to account for, 2 of my meals are at work 5 days a week (sometimes 6), that is a lot of money saved. I still live at home (thats a TON of money saved). I eat home whenever possible...etc.

So the jump in the loan would be like 100-200 dollars more a month at the most. That is not that bad for my financial situation right now. Even though I do want to move out and that will take away ALL my extra money.










And the more I think about it, I may just keep my truck, I'm really far into it, and upside down. I owe 13k, KBB is 9k for trade in. If they can make up the difference, maybe I'll do it. I'd rather save up my money and put a chunky downpayment on a YZF or something...

 

Thats good advice, it makes me think about it a lot...

My pops said the same thing, don't jump into it, and don't get screwed over.



The only REAL reason I want a new truck is for 4x4...thats all. I love the truck, hell, I don't even mind the 3.0 that much anymore...

 

I was getting ready to purchase a new level II but then I found this 2005 XLT 4x4 with everything I wanted. If I were you I'd look for a used Ranger. Just find one with low miles no dings and a great price. I saved myself about $10,000 by buying this truck instead of a new lever II. I'm much happier since my payments are lower. Keep your truck or find a used one is what I'd do and it's what I did!

 

just keeping an eye on a fellow ranger and florida person LOL
i have been to all them dealership at least once in my life
but i would keep it for at least one more year because life changes real fast
you got a nice rig so dont kill your self for the extra 4X4
the only thing i kills me is i should have gone for the 4.0 or at least the 4 doors and i allmost traded it in for that reason but i happy i did not

 

Thanks for lookin out!!

As it sits, I'm just going to see what they will offer me. If i can get that 0% fin...that is even better (i may have my mom co-sign though, to help my chances). I just highly doubt they will give me enough on my trade in.

 

you got a nic rig there just think about it 1st
but if you do i wont to see the new one LOL

 

I'd keep her and use some of that 1200-1600 to get the amount you owe on the loan below that KBB or NADA quote for trade-in.

I make 14.98/hr working 80 salaried hours (I'm a slave, no OT for me). Every 2 weeks I see ~827.64 after taxes and benefits. I live by myself, come Dec I'll have to start paying back on $16K in student loans, and after all current bills are paid (that includes 100 for food for the month and I eat well!) I get a spare ~$860 each month that I can use towards anything. My monthly payments on my truck are only $173.22, but I took out a 9k 60 month loan at 5.4%. I only owe 6055.26 on the loan. My insurance, full coverage through state farm, is roughly 600something every 6 months and I turn 25 in Nov = lower insurance payments.

Honestly, I'd keep your truck. You're already in debt with it as is. Why put yourself into even more debt with a new truck? To answer that same question for myself. I have a 16 year old kid without license, permit, registration, or insurance to thank for allowing me the opportunity to have a new 4x4 truck. Actually I should thank him and then thank my mom for having uninsured and under insured motorist on my car insurance policy. Then I'd have to thank State Farm for being so awesome with my claims (vehicle and injury). Otherwise I'd still have my 93 2wd 4.0L 5 speed ext xlt, I'd be saving my money to pay off my student loans, and I'd probably have to settle for getting a tacoma or frontier as my new truck because by the time I'd be able to afford one the ranger would be dead (should rumors be accurate).

 

^^Thats true...

Luckily, I will only have about 3k in student loans :)

We make about the same amount of money, after my OT :)

Except my truck payment is 316 or something like that...





I dunno if I even want to go to the dealer now. My parents and you guys brought up some good points. I wanna save up for that YZF...then put some more $ towards my truck to get it paid off. Who knows, maybe I'll be on 37's...I just want to be more capable off road, I spend a lot of time offroading, thats the main reason for me wanting to trade my truck for a 4x4.

 

I'll try to keep this post short...

in 04 I worked at Carlsbad Caverns. While working there 5th crapped out on me on my way from here over to there (I'd come home every 2-3 weeks to visit my ex-gf). My O2 sensors were crapping out too and I had my clutch replace right before I left to work out there. When 5th crapped on me i had the tranny replaced. Well fast forward, job ends (only a summer position) and I have my 02 sensors replaced, and brakes all the way around. In Jan 05 I went from 14in rims and 27 in tires up to 15s and P235/70/15 BFG ATs. All on my old 93 4x2 XLT mentioned above. I took that truck off-road once before my accident. With the right driving and knowing your limits in off-road (you don't have mountains out in FL like I have out here in New Mexico, I know this because I was born in Ft. Laud and my sister lives in Orlando) situations you'd be VERY surprised at how well you can do with 2wd. Hell, especially so if you use your extra money towards modding the truck to make it a little more capable, while still trying to also eat away more at that loan!

 

so any up dates?

 

I hear ya on wanting to get the 4x4. Every so often I'll get the same urge, check out prices on-line....slowly close my laptop and cry.

No seriously...you'll get it man, just wait and in good time your next truck will be a 4x4. Don't rush it.

I know I'll have my 4x2 for a long while yet (knock on wood), but when the times right and I'm in the market for a new one, I'll be checking out 4x4's.

In the meantime get as much experience and practice driving with your 4x2 and you'll be a pro at off-roading without the extra help.