ok i want to buy a dodge ram 1500 quad cab, now my parents say i should not get it. I have good credit just not enough so i need for my dad to sign. Now my mom was telling me not to get it. Any good suggestions to tell her to convince her for me to buy it. I know one thing is gas milage. I know it only gets 14 mpg and 20 on highway, but i am not worried about gas. the payment is about 600 bucks a month, i make about 1800 dollars a month. Any good ideals to convince her to let me buy it. Thanks
Dustin

ps. I really want it now

 

Hey bud you should think about Insurance and gas bill you most likly looking at least a grand a month just to drive the truck around not saying you can't not do this but think hard before you buy I make good money over $4500.00 a month some time I wonder if this was a good idea, and it cost me a grand month I marreid with kids also.

One day you going to add in rent and just the cost of living make sure this is what you want and you meet the gril of you dreams THEY COST YOU MONEY trust me that a whole subject by it self.

 

My ex girlfriends brother was paying over $700 a month on a truck and simply let it get repo'd, he was tired of being broke all the time just to make a truck payment.

Wanting, needing and being able to afford are three different issues. Do you NEED a quad cab? It's gonna run you $75-80 to fill up each time.....if you fill up once a week, factor in your ins, payment etc....a grand sounds about right. My house payment is $885, it isn't anything fancy but I can live in it LOL. IMO, look for something a little more practical/affordable, make your payments all on time and establish good credit, when thats paid off then upgrade to something bigger and you probably won't need a co-signer then. Your parents might be more willing to help you this way. Good luck!

 

Buy that Ram quadcab - after you have at least 2/3 of the total cost to put down and still have some reserves in the Bank. $600 a month can be a tough nut to crack adding in the expenses the others have mentioned and realizing that you might want to go out once in a while. Your really best off to buy what you can pay cash for - especially when you are younger, so you have the opportunity to use that $1800 a month enjoying yourself.

 

What year??? Does it still have a warranty??? Have you thought about leasing????? Since your Father is co-signing, he will have to be on the insurance. Are you going to be using his???? The Ram is a good truck, but it is also expensive.
If nothing else, remember this one thing. If you fail to pay your payments, The loan company WILL go after your Father since he is co-signing!!!!!

How old are you????

good luck on your decision.

 

im 22 years old, and i still live at home. the truck is a 2006 very nice truck. i am also getting a dollar raise very soon so that wil be an extra 80 bucks a month. ok i make about 1500 a month my bills are Phone 50 bucks 3 credit cards which i am paying ioff now are 50 bucks for all 3, i drive about 400 miles a month which is around 100 bucks a month. I am also helping a friend out from work with things around her houise she usually pays me 30 bucks every week. after all the bills i still have 800 bucks a month to save for ins. right now i pa 110 a month, im guessing it will go up lest say the highest is 200 thats an extra 90 bucks. so after that ill have 740 dollars a month. I like the reg cab but i really like the quad cab alot better and it had everything i want in this truck. And if i have to i can get a part time job. And i have my 401k i have about 6 thousand in thre ad i can take out 3 thousand if i wanted to. my back up money just in case any thing happens. So have a saftey net.
Oh and also is there a chip i can buy that will help me save on gas??????????
Thanks alot guys you have ben very helpful.
Dustin

 

Just wondering what you are getting in it thats gonna cost you $600 a month?? I've got a 2006 1500 QC Sport (2wd) and got it for $30k out the door, a little over $460 a month. Maybe your lookin at a 4wd, but I'd be lookin at another bank. And like everyone else said, it's not going to be cheap to drive full time. Your mother may be thinking in the right direction, I know it's hard to see it.

 

I only paid $19K for my QC but had 12K down so payments are pretty low and I'll pay it off in six months.

 

Not to burst your bubble, but I think your parents are giving you wise advise. First of all, if you can't afford the truck for what ever reason, say you were injured and couldn't work, whoever co-signed for you would have thier but in the sling for the payment or else thier credit suffers. Gas and insurance were also noted. Depending on your driving record/history, a full size truck could equal full size payments.

You also mentioned credit cards, those damned, evil credit cards. Is the $50 you are paying the minimum? Assuming that is the 2% minimum for the balance, you owe around $2500 at xx APR. That is going to cost you big bucks to try to pay off. I just finished paying off all of mine and I tell you, running up credit card debt was the worst thing I have ever done.

You mentioned your 401K. Borrowing against that is also not the wisest. If you lose your job, you might have to pay back all that you borrowed on the spot! Not to mention, you have to pay that back in 5 years at what ever APR the administrator charges. That must also be factored in. It's not like you can just borrow the 3K and not worry about paying it back. The government will take a certain percentage too, since 401K dollars are pre tax dollars. You'll also be paying it back with post-tax dollars.

Also, the Dodge's are maintenance intensive. Make sure you factor in for that.

Again, I am not trying to burst your bubble or sound like an ***. I'm only a few years older than you and would hate to see a fellow DF member in debt up to thier eyeballs, if they can help it and avoid it.

Perhaps a reasonable alternative is a 2-3 year old Dodge Dakota QC with the 4.7L engine. Sure it won't be new, but you'll save money and still drive a fairly new truck. It will also be capable of whatever hauling/towing chores you could reasonably ask of it.

 

The Dakota QC is a very nice truck, the cab has a lot of room but the bed is a bit on the short side. My best friend has one and I was quite impressed with it, in fact, thats what turned me on to the Ram.