Traded the eco premium for a v8

[oilfieldtrash]

Loved the thing. Great mpg, pretty quick, and beautiful. A little sad to see it go but glad, maybe relieved is the word, to get out from under the payment. The v8, 4.6 triton, is paid for and to be honest I am seriously contemplating never buying a new car again. It's crazy how willing I was to take on a payment that high for 6 years and not even give it too much thought. I took a hit selling it but feel it's less of a hit now than paying a payment I no longer wanted to pay. From here on out it's cars a few years older that still have plenty of life left in them. The depreciation on a new car is staggering. As close to being debt free as I have ever been in my entire life. Try and keep it this way.

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[BBB]

measure twice, cut once

 

[EgoBoost]

^ lol. Good job making it right OP. I'm sure they'll be plenty of affordable used EB's down the road. It's probably the most traded in 2015 model in the world. Lol

 

[JohnDoe]

Loved the thing. Great mpg, pretty quick, and beautiful. A little sad to see it go but glad, maybe relieved is the word, to get out from under the payment. The v8, 4.6 triton, is paid for and to be honest I am seriously contemplating never buying a new car again. It's crazy how willing I was to take on a payment that high for 6 years and not even give it too much thought. I took a hit selling it but feel it's less of a hit now than paying a payment I no longer wanted to pay. From here on out it's cars a few years older that still have plenty of life left in them. The depreciation on a new car is staggering. As close to being debt free as I have ever been in my entire life. Try and keep it this way.

 

[Khyber]

alrighty then

 

[Asharus]

i'd take that truck over an ecoboost anyday myself. congrats dude. i'd love an F-150 someday too.

 

[Starman]

Loved the thing. Great mpg, pretty quick, and beautiful. A little sad to see it go but glad, maybe relieved is the word, to get out from under the payment. The v8, 4.6 triton, is paid for and to be honest I am seriously contemplating never buying a new car again. It's crazy how willing I was to take on a payment that high for 6 years and not even give it too much thought. I took a hit selling it but feel it's less of a hit now than paying a payment I no longer wanted to pay. From here on out it's cars a few years older that still have plenty of life left in them. The depreciation on a new car is staggering. As close to being debt free as I have ever been in my entire life. Try and keep it this way.

This is a very smart thing to live by and you did a wise thing. You should live within your means and a smart person does so. I specifically bought my Mustang because the payment is about 6% of my net monthly income. I could have gone out and bought a more expensive car but I also want to live within my means. If your car payment is more the 10% of your net monthly income then its probably to much.


On a side note, guess which car is by far owned by people far out of their proper income levels:

Not a surprise:

BMW

 

[Falconetti]

 

[e30og]

tough lesson after you put money into it but hey there are more important things in life

head back over here when you pick up a second hand one

 

[Rough Hollow Man]

The OP is "Wise beyond his years"!

 

[willmkent]

i don't blame you, i came to this realization a little while ago and that is why i leased this EB, mainly because i wanted an affordable payment and a way out just in case. lol.... A few things have happened in my life recently that have caused me to re-evaluate how much money i can and or should realistically put into a vehicle.

God speed

 

[GTP]

measure twice, cut once

BBB, I'm starting to believe you're always right. :hail:

My favorite place to recommend to start:
http://www.edmunds.com/tco.html

 

[oilfieldtrash]

Thanks guys. It was a tough decision but ultimately the right one for me right now. I didn't actually trade the car for the truck. I just wanted in on the I traded the ecoboost for a v8 fun. lol. I actually have owned this truck a little while. I paid cash for it when I bought it. I just honestly wanted to see what it's like without a car payment. Day 1 is nice so far. I actually get to get my hands dirty with the truck because it occasionally actually needs work here and there.

 

[oilfieldtrash]

measure twice, cut once

Yep and totally didnt apply in my situation. I make decent money with no wife and kids and my mortgage is $700 a month. And $300 of that is taxes and insurance which you will always have regardless. So actually $400 a month is my total debt to the man. Truck has 121,000 miles on it and should last for many years to come. Sure I look dirt broke when I drive it around but I'm free as I have ever been financially.

 

[Asharus]

thats a nice truck dude i wouldnt think you're dirt broke if i saw you rollin in that

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