Question about buying a new truck.

So i am planning on buying a new truck at the end of the year. I will be getting a 7k bonus at years end that i plan on using yo buy the truck. My question is what is the best way to do it?

My options :
1. Paydown my trade in before the purchase.
2. Use it as a down payment
3. Put ut toward the loan after purchase.

One of these must be better than the others financially.

Wat do OG? Phone Post 3.0

Anyone? Phone Post 3.0

  1. Don't get a new car til you pay off your current one Phone Post 3.0

Kick Boxe - 4. Don't get a new car til you pay off your current one Phone Post 3.0
Lol no Phone Post 3.0

I traded in a 2015 mustang that was paid off and put down 4000 cash .. My truck was 42k .. Got them down to 38k.. I still ended up financing 20k .. But monthly is under 300 ..My credit isn't the greatest .. But I have a great truck and a great warranty at like 8yrs 150k mi bumper to bumper Phone Post 3.0

How about you sell your other truck. You will get more out of it and will have even more to put down. Phone Post 3.0

If you sell the car privately AND put the 7 grand toward what you owe can you pay it off? If you trade the car to the dealer as part of buying the new truck then bring lube cause your gonna get fucked. Phone Post 3.0

TFK_Geoff G Electric - I traded in a 2015 mustang that was paid off and put down 4000 cash .. My truck was 42k .. Got them down to 38k.. I still ended up financing 20k .. But monthly is under 300 ..My credit isn't the greatest .. But I have a great truck and a great warranty at like 8yrs 150k mi bumper to bumper Phone Post 3.0
The only way I would pay 42000 for a vehicle is if I was going to live in it. Phone Post 3.0

Soup and Beer -
TFK_Geoff G Electric - I traded in a 2015 mustang that was paid off and put down 4000 cash .. My truck was 42k .. Got them down to 38k.. I still ended up financing 20k .. But monthly is under 300 ..My credit isn't the greatest .. But I have a great truck and a great warranty at like 8yrs 150k mi bumper to bumper Phone Post 3.0
The only way I would pay 42000 for a vehicle is if I was going to live in it. Phone Post 3.0
Sometimes the right vehicle comes up at a good price.
I wouldn't consider spend that it it's a job requirement and it was a great deal in my case.
Research OP, pay off your current car, have a down payment and a bank lined up before you walk in the dealer ship.
That takes away a lot is their leverage Phone Post 3.0

^ for sure. I always do my own financing. Phone Post 3.0

Soup and Beer -
TFK_Geoff G Electric - I traded in a 2015 mustang that was paid off and put down 4000 cash .. My truck was 42k .. Got them down to 38k.. I still ended up financing 20k .. But monthly is under 300 ..My credit isn't the greatest .. But I have a great truck and a great warranty at like 8yrs 150k mi bumper to bumper Phone Post 3.0
The only way I would pay 42000 for a vehicle is if I was going to live in it. Phone Post 3.0
Usually I wouldn't .. But I actually won the mustang at a casino and it was impossible to have a two door mustang with 2 kids under 3 .. So the mustang was like a free 20k down payment .. Plus I'm a contractor and a reliable truck is worth more than gold ! Phone Post 3.0

TFK_Geoff G Electric -
Soup and Beer -
TFK_Geoff G Electric - I traded in a 2015 mustang that was paid off and put down 4000 cash .. My truck was 42k .. Got them down to 38k.. I still ended up financing 20k .. But monthly is under 300 ..My credit isn't the greatest .. But I have a great truck and a great warranty at like 8yrs 150k mi bumper to bumper Phone Post 3.0
The only way I would pay 42000 for a vehicle is if I was going to live in it. Phone Post 3.0
Usually I wouldn't .. But I actually won the mustang at a casino and it was impossible to have a two door mustang with 2 kids under 3 .. So the mustang was like a free 20k down payment .. Plus I'm a contractor and a reliable truck is worth more than gold ! Phone Post 3.0
Well that's very different.

Also I heard when people win something like a car they have to pay the taxes on the sticker price like it was earned income on the spot. That true? Phone Post 3.0

Soup and Beer -
TFK_Geoff G Electric -
Soup and Beer -
TFK_Geoff G Electric - I traded in a 2015 mustang that was paid off and put down 4000 cash .. My truck was 42k .. Got them down to 38k.. I still ended up financing 20k .. But monthly is under 300 ..My credit isn't the greatest .. But I have a great truck and a great warranty at like 8yrs 150k mi bumper to bumper Phone Post 3.0
The only way I would pay 42000 for a vehicle is if I was going to live in it. Phone Post 3.0
Usually I wouldn't .. But I actually won the mustang at a casino and it was impossible to have a two door mustang with 2 kids under 3 .. So the mustang was like a free 20k down payment .. Plus I'm a contractor and a reliable truck is worth more than gold ! Phone Post 3.0
Well that's very different.

Also I heard when people win something like a car they have to pay the taxes on the sticker price like it was earned income on the spot. That true? Phone Post 3.0
I agree with all of this. I was wondering why the fuck you bought a 2015 mustang then a $42k truck. Seemed so wasteful until you explained lol Phone Post 3.0

Not at this casino .. I have to pay taxes on the buyout price of 22k at the end of the year. That was the cash they offered instead of car .. I chose car Phone Post 3.0

jrdaley -
Soup and Beer -
TFK_Geoff G Electric -
Soup and Beer -
TFK_Geoff G Electric - I traded in a 2015 mustang that was paid off and put down 4000 cash .. My truck was 42k .. Got them down to 38k.. I still ended up financing 20k .. But monthly is under 300 ..My credit isn't the greatest .. But I have a great truck and a great warranty at like 8yrs 150k mi bumper to bumper Phone Post 3.0
The only way I would pay 42000 for a vehicle is if I was going to live in it. Phone Post 3.0
Usually I wouldn't .. But I actually won the mustang at a casino and it was impossible to have a two door mustang with 2 kids under 3 .. So the mustang was like a free 20k down payment .. Plus I'm a contractor and a reliable truck is worth more than gold ! Phone Post 3.0
Well that's very different.

Also I heard when people win something like a car they have to pay the taxes on the sticker price like it was earned income on the spot. That true? Phone Post 3.0
I agree with all of this. I was wondering why the fuck you bought a 2015 mustang then a $42k truck. Seemed so wasteful until you explained lol Phone Post 3.0
I know .. If my kids were older and I had a 3 car garage I would've kept the stang .. That thing was fun .. Phone Post 3.0

Regardless of what you do sounds like your truck bound. Have the financier draft all of your current options you mentioned and make them work for your purchase. Don't pull the trigger until you see the numbers and your happy with the deal. It all depends on what you want, smaller monthly payment then put some money down. If your balls clank and you got the money and you could careless about a big payment keep the money in the bank and ride out of there with that new truck. If they offer you a service contract don't purchase a third party contract make sure its the manufacturers service contract, dodge truck chrysler max care, ford truck ford service contract, and so on you get my drift. Good luck and enjoy that new truck! Phone Post 3.0

Just go buy the fucking truck. Phone Post 3.0