Need a truck and financial advice

I have a Mazda 626 with almost 200,000 miles on it. I will have to get another car eventually. I will need a truck.
Which is the wiser choice and why?

  1. finance a Toyota Camry with 90k miles for $4500 for the reliablibility and buy a truck for 2k in cash just to have for trips to home depot and fishing.

  2. finance a Dodge Dakota with 60k miles or less for $7500

I would appreciate any help on this.

I think having insurance for two vehicals is a waste of money, but some people really like have a spare vehical. I would buy a truck and call it good.

How reliable will that $2K truck be? That would be the vehicle that would break down while you have it loaded up with stuff from home depot.
If you need a truck for your business, just get a truck. You could look at a hybrid. :biggrin

Forget the Dakota unless the idea of replacing head gaskets in the not to distant future excites you.

Kill two birds with one stone and get an Extra cab Toyota pickup. With just regular oil changes they will go 300,000 miles and still run great. I had a 1992 Toyota 4 cylinder 2 wheel drive that is still going strong with 425,000 miles on it. I sold it to one of my subs and he says it’s THE best vehicle he has ever owned. That’s not a fluke either, one before that had 300K +++.

I agree with the others. Buy a decent truck. One good truck is better than one junky car and one junky truck.


So are we really talking about trucks here? I have driven a Ford F150 6 cylinder, a Chevy 1500 8 cyl, and now drive a Dodge Ram sport. They were all good trucks. Pick what you like, take care of it and it will take care of you!! WHO CARES???

I think next we should talk about what brands of clothing to wear to meet with prospective clients and associates. I think this is exactly the freakin problem with most people on this damn board. TALK. TALK TALK TALK! Who give a sh*t what kind of truck to drive??? Get off your a$$ and do something!!! REALLY!!!

He wasn’t asking what kind of truck. I got the impression he was asking whether other investors have a truck and then a seperate car for their day to day activities, or just a truck. This seems like a valid question to me.

Buy one vehical, if you have fun money then go ahead and get a toy car. But don’t get two practical vehicals.

Hmm… good point. :biggrin Yeah dude, get a truck. Trucks are good. Make sure it’s comfortable and practical. Thanks Iron Range. :beer

Good point. REI NOOBSTER after almost 400 posts, you might be ready to buy a place. You can’t know everything without getting some real experience. You can only read and post so much before you have to move forward and show what you got.

You missed the point of my question and contributed nothing to the thread. Judging from this post I doubt you have contributed anything to any thread here.

No it was not a good point. It was stupid. I have gotten other financial advice here besides REI and will continue to do so as long as the mods let me and people keep answering.

I just bought my house that was rehabbed right before I bought it. I paid 85% of the value. Not much of an investment but again it is my residence. I joined my local rei club, bought we buy houses signs and car magnets. I have missed a few deals for various reasons and right now I have 6 houses to move that are in pre-foreclosure. So if you guys don’t mind I would like to ask the people whon have taught me everything I know about rei a good way to buy next car and get the most bang for my buck.


This isn’t a site to help everyone with their life problems. It’s a site on real estate (have you noticed). So keep your questions focused on real estate, and not on your personal questions about other sh#t.

Did you write this in the thread about propertymanager’s new motorcycle? No? I didn’t think so. What about the “best advice you ever got” Thread? Not there either huh?

We are all here to get rich and retire early. I have come here to learn about rei but have learned tons of other things about making financially wise decisions. This place is packed with intelligent people whose opinions I value.

The question is not about the kind of car I should buy but what makes sense finacially. I will have 10k should I pay for my car or finance? Is it better to have the cash reserves or the debt?

Sorry, if I have been a D!ck to anyone in this thread. I needed financial adivice and the is where I usually get it. I will stick to REI from no on. For the record though I AM doing something.
I tend to get out of line when I feel some-onwe is taking a jab at me.

This is great!

REI noob, look at your debt to income ratio and whether financing the whole truck will put you over the normal requirements of lenders. If so, then maybe you can do a 50% down pay and finance the rest to keep your options open. Cash flow is the key…if you can keep your money and make more than the interest you’re paying to finance the truck, then keep it. If you’re the type of person that would just spend it on 20" wheels, buy the truck with cash…you’ll also be able to insure it for liability and comp only (financed usually requires full cov’g).

Check out the year end models of domestic trucks. Sometimes you can get a brand new pickup (bare bones) with a warranty for around $10-$12k (depending on your area).

I was in the car/truck decision mode a while ago but ended up going with the SUT…sport utility truck. It’s the best of both worlds.

Cheers…and everyone relax.

Thanks. This is exactly the type of advice I ws looking for. This and what I got from pet(?) about buying a toyota.
This is a big decision, I screwed myelf financially last time I bought a car and am afraid I will do it again.


Hey REINoobster…

I haven’t been called that since middle school! That was awesome! I did miss the point, your right. A truck is a must for just starting out in real estate, and my trucks have been invaluable. Make sure and get a trailor hitch though! I’m sure propertymanager has a hitch on his new motorcyle. :biggrin

Seriously, I meant no jab at you. I sometimes read through these threads and hear people just talking and talking and talking… blah blah blah blah blah. I speak from experience of the blah blah blah… and when I stopped talking and started doing is when I realized what I am capable of. If you are doing then congratulations and go kick some a$$! I would love to help in anyway if I can.

This website has become my favorite website (well, except for the porn websites of course). From DeeinAustin, keith, propertymanager, and many others I have learned alot and have been entertained. Thanks to everybody that contributes to this site!!

Cool man. You are right and I understand. I go to my REI club to find buyers to wholesale to and have to sift through the many people who are not about DOING anything. These people make up 75% of every meeting. I am hitting it as hard as I can right now. If property manager did it in 3 years I can do it in the 7 I have planned.


Or just go ahead and buy the car with cash. Cars handle better than trucks, get better gas mileage. And of course there won’t be a hit on your credit with the DTI. Of course if you’re going with a stated loan, it won’t matter that much.

Also if you need to go to home depot to pick things up, just rent their truck for $20. I think they charge mileage now too. You should probably do the math and figure out how many times you’ll actually need the truck to make it worthwhile. If you’re just starting out, you probably won’t need it that much and it’ll just be cheaper to rent it when you need it.