Buying a 2006 dodge ram 1500 quad cab
#11
08-07-2006, 02:47 AM
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RE: Buying a 2006 dodge ram 1500 quad cab
dewred21
You have received some good advice from all that have posted here, and osteodoc08 has really hit the nail on the head. You badly need to realize that 401K plans are not a savings account to be raided when you just want to do so. If you take the 3 grand out of it you will pay the government 15% for income tax on it, not to mention that you are starting to do something that you will regret in later years. Treated right, and left alone, a good 401K can have you financially sound by the time you are 50 to 55 years old, and believe me, you don't know what that means right now. By all means, leave that 401K alone.
I have estimated your financial soundness by the information you have given and can tell you that you will be on shaky ground if you go through with that deal. What is going to happen is, that you are going to end up running so close on your bills that you will be very uncomfortable, you just don't have enough "swing" room there. You will have a new truck with no money to drive it or do anything else that you might want to do.
At the very least, you should look at buying an older model, there are many good 03 to 05 Rams out there that will serve your purpose very well, and the best part, someone else has already taken the loss on them and you can buy one for peanuts when compared to a new one. Listen to the guys on here, most of them have "been there, and done that" and know what they are talking about.
You have received some good advice from all that have posted here, and osteodoc08 has really hit the nail on the head. You badly need to realize that 401K plans are not a savings account to be raided when you just want to do so. If you take the 3 grand out of it you will pay the government 15% for income tax on it, not to mention that you are starting to do something that you will regret in later years. Treated right, and left alone, a good 401K can have you financially sound by the time you are 50 to 55 years old, and believe me, you don't know what that means right now. By all means, leave that 401K alone.
I have estimated your financial soundness by the information you have given and can tell you that you will be on shaky ground if you go through with that deal. What is going to happen is, that you are going to end up running so close on your bills that you will be very uncomfortable, you just don't have enough "swing" room there. You will have a new truck with no money to drive it or do anything else that you might want to do.
At the very least, you should look at buying an older model, there are many good 03 to 05 Rams out there that will serve your purpose very well, and the best part, someone else has already taken the loss on them and you can buy one for peanuts when compared to a new one. Listen to the guys on here, most of them have "been there, and done that" and know what they are talking about.
#12
08-07-2006, 07:11 AM
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RE: Buying a 2006 dodge ram 1500 quad cab
Look for an 04/05...there are still a few 05's out there new on the lots. You just have to look for them. Your mom is right,not a great idea to put yourself in that position. It's just a vehicle,not life and death. You're young and have plenty of time to get that dream truck. Trust me,I did the same thing when I was young and looking back I wish I hadn't.
#13
08-07-2006, 07:32 AM
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RE: Buying a 2006 dodge ram 1500 quad cab
yeah i understand now. im just gonna pay al my credit cards off and my 401k off as well. i have been paying them off ill just make sure there is a 0 balance and then my dad said hell help co sign when i have paid all of my stuff off. should be paid off in a month and a half.