i'm looking at some 09s. i have $25k cash but i'm debating on what to get. i want the laramie for the interior; gps, center console, sunroof, etc. but they're not as close to $25k as the slt.

i'm just out of hs, i make $2100 a month. after taxes, estimate about $1500 a month. you think a $10k-15k loan would be feasible to get the 09 laramie or should i just stick with a $5k loan or so and get the 09 slt? both are beautiful trucks, but that laramie interior is calling me out.

is the laramie worth it? and is my pay enough to cover a $10k-15k loan? i'm living at home for a while for college, i have no rent payment and i'm not paying for college so really my only necessary payments will be truck payment, auto insurance, and gas. plus i like to have a little fun on the side (batting cages, order pizza, etc).

 

HOw are you making so much money fresh out of high school? I'm a senior at CSUF studying full time and working full time and I don't make that much.

A few tips though... Don't settle for the first truck you see. Inspect any chrome for bubbling or any signs of rust. Inspect the body for defects. Ask for a maintenance record.

And if you have so much DINERO why not just get a new truck?

 

LOL, why on earth would you want to blow all your cash on a truck? Buying a car is the quickest way to loose of your money, other than a 6pack of beer of of course. Think ahead and put some (most) of this money in an IRA and/or some other form of investment, and buy yourself a cheaper truck

 

I have to agree with this. Yes, the RAMs are beautiful trucks, and I don't blame you for wanting one. But, I didn't buy my first brand new truck until I was almost 30. Had a house, less then 5 years to go on my mortgage, several years with the company I work for. Yes you make good money now, but what if you don't work there is 6-12 months? Then what?

My advise, buy something cheaper, reliable and more fuel efficient. These trucks are not cheap to drive everyday just as a daily commuter.

Then save the rest of your money for a down payment on house in some kind of high interest account.

You will be thankful someday if you do this the right way now.

 

I advise you to do whatever you want. The housing market sucks right now. If you want to buy a truck then buy a truck. I would rather rent a property then have a mortgage right now anyways. Buying a house isn't something you need to do at this point in life anywho. You can always wait awhile and see where the housing market goes and start saving money for that along the way. Right now you have to figure you're going to want something to drive that you can enjoy.

Besides I would rather rent than own a house at least right now (I am 24) the reason being that while I pay $700 a month in rent, I don't have to pay for maintenance. You buy a house and it is your responsibility in every sense of the word. You have to mow, you have to landscape, you have to fix all the little things that can go wrong with it. I have an issue, I call my landlord and he takes care of it. I am also able to save money because I am not shelling out over 1k a month on a mortgage payment.

When it all comes down to it you have decide what's best for you. I say if you want a new truck go buy one. You only live life once. Also if you are anywhere near Ankeny, Iowa Dewey Dodge, Chrysler, Jeep had a 2009 Inferno Red Ram 1500 Quad Cab that had the console shifter, Hemi, tube steps, bed liner, tonneau cover, and just about every option outside of navigation and leather seats. They only wanted 24k for it and it only had 25k miles on it.

Here's the link they still have it as of right now and the price has dropped to 22k

http://www.deweydodgejeep.com/certif...63616d88d5.htm

I see now that you are NJ so I don't know how feasible it would be for you to come to Iowa but I think this is a damned good deal.

If you did want to buy a house you could put a 10k down payment on a truck for a similar price and then take a loan on the remainder. You should be able to get a close to 0% interest rate with that kind of a down payment. The banks will know you have money. Then you could save the remainder of your money as a downpayment for a house. Just a thought if you wanted to go that route. It wouldn't hurt you to have a car payment on your credit report, having one and making the payments on time or early will increase your credit score.

Here's what a monthly payment would look like if you bought a $25k truck and put a $10k down payment on it. With a 60 Month Loan (5 Years) at a 5% Interest Rate (I wouldn't be surprised if you got a much better rate), you would be looking at $283 a month. That's an easily manageable payment. While you are taking $283 out of your monthly budget, you have something reliable, that you can drive and enjoy and at the same time you have money left over for a house, or a sizeable emergency fund. When I bought my Dakota back in February 2007 it was probably the best thing I could have done despite my parents advising me otherwise because I had a 50 mile drive both ways from work, and even when I moved closer to my job I still had about a 30 mile drive each way. My Dakota had 80k miles on it when I traded it in. In comparison my Grandfather's 2006 Fusion only has 25k on it and he actually drives a good bit. Having something that was reliable for me for about 4-5 years probably saved me a good chunk of money on the maintenance costs I would have been paying on an older used truck.

 

I was making good money right of high school as well. I didn't go to college right away, and was able to land a good job as well. I bought a brand new Ram. So go ahead and get yourself a nice truck. It does well for your self esteem and confidence. Plus the chicks will dig ya too! I also found that if you drive a nice vehicle and maintain it well, it shows what you will be like in your job and in life. Maintaining a vehicle shows responsibility and maturity. Things that employers look for. (My mother used to tell me If I had nice shoes that women would like me more too...)
Yes investing is SOOOOOOOOOOOOOOOOO important at your age and young people just won't get that until it is too late for some. So do the Ram....but please keeping thinking of your future too. So with out lecturing any more....and coming from a High school grad that waited to go to college......Just do it.......

 

If you buy a nice used one DEFINITELY get one that is loaded to the gee gee. I’ve got a new Sport CC and it’s got everything the Laramie has minus the memory seats/mirrors and wouldn’t settle for anything less. If you buy a lesser optioned model to save money you’ll regret it after the first week you own it especially if it’s a sunroof or leather. An aftermarket GPS is a better/cheaper alternative imho.

 

You should be able to find a 09 Laramie for under 30.... Just be willing to travel a little.

 

Right now I have to wonder if owning a house is a smart thing? I lost money on mine so far, hopefully the prices with come back up...this is in Canada I am talking about, don't let the news BS ya we are in the same shape as the US. I would so much rather be renting, in the last 5 years, furnace, foundation leak repair,dormer siding replacement and the small stuff, so besides mortgage 20 grand in repairs..only thing that adds value is the furnace since it the highest efficiency.
You should look around for someone trying to get out a truck just take over payments and you will get a great deal, they guy has paid 2 years on it so you have a few years left and bam yours.

 

Mortgage rates are at historic lows. And the price of housing has dropped so much this is actually a great time to buy. That said... you're not buying a house now.

If you are a spender you are probably going to get the truck. If you are a saver then you really shouldn't and hold off a couple years. Get something in the $15,000 range and you can upgrade in a couple years if your finances are still in good shape.

You can buy a d $25k vehicle now and if you get into a bind, you can always sell it and at most take a few thousand dollar hit if you don't get a great price for it. Vehicles depreciate almost more than anything so keep that in mind.

Lots of choices for you man. So decide what's best for you......