RE: Advice on selling please. - Dodge Dakota Forum

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jeremy Dodge Dakota JOIN HERE 3/05/2004 15:48:45	Subject: RE: Advice on selling please. IP: Logged Message: I didn't once to to say it made the most financial sense. And if you simply use your vehicle as a device to transport yourself, then there isn't a problem hanging on to it until is old and beat down. I tend to view it as a source of pleasure as well. Don't try to belitte me for not wanting to travel in peice of junk. I view my monthly payment as a fixed monthly cost to enjoy a vehicle. I pay x dollars per month for my train pass, I pay x dollars per month for the gym, I pay x for groceries, recreation, medical, etc..... It's the same for my vehicle. I'm just saying its the best way to go for me. If you can't afford it, or grow sentimental to your vehicle then that's your deal. Obviously, it is cheaper in the long run to keep the truck until it just no longer works, but it isn't necessary for me to do that so why should I? I don't think it's the rip off that everyone claims it to be. As I said, I'm far from rich but for what i'm paying now, I can enjoy a new vehicle every few years. Maybe I'll get a new dakota, maybe go with a full size, or maybe i'll even get a little sports car. Who knows, but at least I'm not going to be tied down to a truck for 10+ years. Your suggestion about paying myself once the truck is paid off may make sense to you. But I for one don't want to wait those 10+ years before I can drive a nice new vehicle again, and it'll be nice to avoid the problems that WILL occure while i'm "running it into the ground". Believe me I understand where you coming from about making the payments work for you. Your still talking about a vehicle like an investment. You can't build equity in a truck. As for trying to get what I owe out of it, I wouldn't have this problem if it were a lease now would I? From what everyone on this thread has said, I'll never be able to get more then I owe out of it. I wish I could find where you all are finding these trucks for so cheap. Even a 2 wheel drive regular cab, v6, 5 speed dakota, with absolutley no options, no a/c, no cd, no pw, no pd, NOTHING has a sticker of 19,000. I'm not saying mine is worth 19,500 but I don't think people in my area are much concerned with money so we'll see what happens.
Dak 97 Dodge Dakota JOIN HERE 3/05/2004 16:26:39	RE: Advice on selling please. IP: Logged Message: 19,500 is ridiciulous...... no way.... Only a fool would even consider. 15K if lucky
Jeremy Dodge Dakota JOIN HERE 3/05/2004 17:57:11	RE: Advice on selling please. IP: Logged Message: I agree that 19,500 is ridiciulous, but so is 15. I've actually had one call so far, and a onlder gentleman at the grocery store (in a 2003 range rover) said he might be interested in it as a work truck. I havn't been able to get back with the caller yet.
DSW Dodge Dakota JOIN HERE 3/05/2004 18:54:51	RE: Advice on selling please. IP: Logged Message: $19,000 sticker is about right, but after you haggle with the dealer and start to walk off the lot they will drop the price to $14-15K. I bought my loaded 2000 CC 4.7 Sport 2wd in 2002 (2 year old truck) for $13,xxx. It was stickered for $18K, but I got it for less than $14K. Get used to people calling and never calling back. I sold my wife's car and my old truck. I must have had 30-40 calls before I found the right person to buy each one, a real pain in the azz, but better than getting skrewd by the dealer.
RAM Dakota Dodge Dakota JOIN HERE 3/05/2004 20:28:29	RE: Advice on selling please. IP: Logged Message: Buying a car is an investment. Suggesting otherwise is foolish. It is the second largest investment most people make next to a home. Which is foolish, since retirement should be, but that's another issue. Just because it is a losing investment doesn't mean all caution should be thrown to the wind. I avoid paying for things on time. I have only made payments on one of our current 3 cars and when i had the extra money I put an end to that. Interest makes the quoted price a joke. After interest is paid the price paid increases significantly. Nothing like paying $28,000 for a $18,000 dollar vehicle. No way to recoop from that kind of loss. People will respond to that with "it's the only way i can afford it". Which is false. It just shows how people are un-willing to save up for something. In four years of $400 a month saved that $18,000 dollar truck would be payed for. Then after 2 years the $12-16,000 re-sale value looks pretty good. It also reduces to saving time for the next vehicle to about 6 months. Anyway, you can see how the loss has been reduced. Just saving up for a vehicle once in a lifetime can make a huge difference in the amount of money we lose on vehicles.
Jeremy Dodge Dakota JOIN HERE 3/05/2004 21:36:02	RE: Advice on selling please. IP: Logged Message: I guess for some people a car is an investment.....though an extremley poor one. I choose to invest my money in venues that have at least a slim hope of making money. I'm still not even slightly convinced that leasing isn't the best option. DSW, your truck was used, not relavent to this conversation. And the guy did call back, he's coming by tomorrow morning.
alashaman Dodge Dakota JOIN HERE 3/05/2004 23:45:30	RE: Advice on selling please. IP: Logged Message: Its all about timing, and playing the dealer a little. the more educated you are about what your buying / what the dealer is paying the better off you are. Also dont ever let the monthly payment be your buying point... its all games they will stick it to you and just extend the loan for 7 years or something to make a payment work. Always negotiate the price, then work on the payment methood. I walked with a 04' slt plus, with EVERYTHING on it.. leather, 6disc changer, 4 wheel ABS etc for under 26k sticker on this was about 30k loaded the was it was and i got the Tax / Lic fee's included... saved another 3k. So basically a 33-34k off the lot price for under 26k, im happy.
Kurtvw Dodge Dakota JOIN HERE 3/06/2004 00:57:12	RE: Advice on selling please. IP: Logged Message: Use the Dodge site and do it via the internet, it really does help and it gets you into the Fleet Department. My new 2004 (to replace my 2001 Dakota) is already on factory order for delivery in about 4 weeks. Club Cab Sport Plus V8 Manual Buckets Leer 100XQ Shell Linex spray in bedliner Slider window 255/65/16 tires 4wheel disc/4 wheel anti-locks heavy duty cooling $24,247 ($2000 of that is shell and bedliner)
99DAK Dodge Dakota JOIN HERE 3/06/2004 01:15:12	RE: Advice on selling please. IP: Logged Message: There's a book called "The Millionaire Next Door" written by two guys with Ph.D.s who did a bunch of research that basically says that most millionaires don't wear Rolex watches and don't drive new, or even expensive vehicles. That's how most of them got to be millionaires in the first place. They say that Texans have an expression for guys like Jeremy - Big hat, no cattle. Here's an excerpt from the book: Check it out
eddy Dodge Dakota JOIN HERE 3/06/2004 03:17:52	RE: Advice on selling please. IP: Logged Message: "I didn't once to to say it made the most financial sense. And if you simply use your vehicle as a device to transport yourself, then there isn't a problem hanging on to it until is old and beat down. I tend to view it as a source of pleasure as well. Don't try to belitte me for not wanting to travel in peice of junk." I did no such thing. I no longer have any interest in driving a beater either. The difference is, I recognize that what Im doing is fnancially stupid, but the fun way to do things. You're trying to justify it as the wisest thing to do. You yourself refuted the argument that you can go for years without payment in ownership by saying 'what about repairs?' That would naturally lead be to believe you think you come out ahead financially by avoiding the repairs through trading every couple years. "I view my monthly payment as a fixed monthly cost to enjoy a vehicle. I pay x dollars per month for my train pass, I pay x dollars per month for the gym, I pay x for groceries, recreation, medical, etc..... It's the same for my vehicle. I'm just saying its the best way to go for me." Kinda sad to me, to accept monthly vehicle payments as a part of life. My goal is to get to the point where they're never necessary for me again. The ultimate is where your money is working for you and you pay no interest to anybody else, but if you can accept constant payments for the rest of your life, well, then more power to you. "If you can't afford it, or grow sentimental to your vehicle then that's your deal" I could easily afford 400 per month for the rest of my life. But constant vehicle payments without a break would just seem like a pain to me. I think If I just do it for 48 more months and then continue putting that 400 bucks to work for me, I come out WAY ahead of someone who's always constantly paying out 400 bucks per month. If I do it just for twice the length of my current loan for instance, then at the end of 96 months I have over 19 grand saved up, minus vehicle repairs, whereas the person who makes constant payments has put aside NOTHING. I guess yeah, I do grow sentimental towards a vehicle. Certain other people will claim they love their vehicles then trade them in 3 years anyway because something newer and hotter is available. Me, if I TRULY mean it when I say I love a vehicle, then that means Ill hold onto it until it's no longer viable as a vehicle for me, whether that's due to it not fitting my needs or no longer beign worthwhile to maintain.
eddy Dodge Dakota JOIN HERE 3/06/2004 03:23:49	RE: Advice on selling please. IP: Logged Message: Really, if any of us cared more about finances than vehicles wed be driving 5 thousand dollar Civics and Corollas paid for in cash. Anything more is financially dumb, it's just a question of to what degree.
Jeremy Dodge Dakota JOIN HERE 3/06/2004 09:14:07	RE: Advice on selling please. IP: Logged Message: I'm not at all saying it's the wisest thing to do. I said it's more fesiable then everyone thinks. To assume that once the payments are done that you have a free ride isn't true. That's not to say maintenece will be AS much as your monthly payment was. My point is, this is the best way for me to enjoy what I personally want to enjoy. It won't put any financial stress on me so why not do it. As far as making it so monthly payments are never necassary again: I was fortunate enough to get 0% financing when I bought my truck. Other wise I would have bought it out right. That's brings up the idea that maybe I should buy a vehicle new, and sell it every few years. That does actually make more financial sense then leasing, assuming I can get a decent resale price. That's also assuming that each new vehicle that i want is 20k-25k. As far as being sentimental, I really do like this truck. It's the first vehicle I've ever bought new, and I've put all but the first 3 miles on it. At 31,000 miles it's giving me signs that I don't like. I'm not going to turn this into a dakota sucks conversation, because any vehicle can develop any problem at anytime. I'd be so happy right now if I could just give it back to the dealer, and drive away in something new. As I said earlier the new Ram 1500's are looking better to me each day. But a truck doesn't make much sense for me know. Beleive me, I'm not being stupid with money. I have a degree in businees finance, I know about investing for the future and retirement and such. I view this as a luxury that I can afford at this point in my life. I'm certainly not going to let it detract from more important things. (incidently I have no children yet lol) Big hat no cattle?? You know nothing about me, so that's easy for me to brush off. Out of curiosity, how does driving a LOW end dakota make me what you claim I am? And on that note becoming a millinaire is much more simple then many people realize. If in a position to save even a little at a young age, almost anyone can retire as a millionaire. Don't for a minute think I have that kind of money though. I still havn't found a good get rich quick deal. The guy that called me came to look at the truck this morning, and the talked me down to 18,750. I told him there was one more person that wanted to look at it and that I'd get back to him. The guy that saw it at the grocery store wants me to bring it to his farm this afternoon, so we'll see what happens again. If it's this easy to sell, (knock on wood) then to hell with leasing, I'll just buy new and sell when i'm done lol.
Wondering Dodge Dakota JOIN HERE 3/06/2004 09:48:55	RE: Advice on selling please. IP: Logged Message: I'm just curious why you cheaped out on the engine & options, especially if you view your vehicle as a "source of pleasure" and don't seem too concerned about how much money you spend in the long run. I'm also wondering if, had you bought a V8 with better options, you would be more inclined to keep it.
Jeremy Dodge Dakota JOIN HERE 3/06/2004 10:46:11	RE: Advice on selling please. IP: Logged Message: Good point. I bought it just before I finished school so I didn't have much money. I didn't even have a garaunteed job at that point. I had some extra money that was saved for college and I wanted a small fuel effecient truck. Instead I got the dakota lol. I was all ready to buy a 2 year old ranger or tacoma, but the dealer showed me my brand new dokota that just rolled off the truck. Being that it was new the payments were some how less and the lure of new hooked me. Like I said, I do like my truck the only thing I wish was different are "luxury" options such as pw, pd, cruise, etc... If I were to get v8 power, it would have been a full size truck, not a dakota for sure. When it comes right down to it, i'm just bored with it. I don't want a nicer dakota. If that were the case, I could spend very little money to get the options that I want. I really like the new audi s4's.
eddy Dodge Dakota JOIN HERE 3/06/2004 11:34:33	RE: Advice on selling please. IP: Logged Message: Sorry, gotta throw out the bs flag. "wise I would have bought it out right. That's brings up the idea that maybe I should buy a vehicle new, and sell it every few years" You act like you could have bought it outright, but your original post was about how you were gonna get what you owe on the loan out of the sale. For people who can buy vehicles outright that's never a worry, they can just sell it and use cash to pay off whatever negative equity there may be.
99DAK Dodge Dakota JOIN HERE 3/06/2004 11:38:54	RE: Advice on selling please. IP: Logged Message: "Big hat no cattle?? You know nothing about me, so that's easy for me to brush off." I know you're a little confused about smart asset management. Nobody can argue your choice to spend money on whatever makes you happy. But then you say: "I guess for some people a car is an investment.....though an extremley poor one. I choose to invest my money in venues that have at least a slim hope of making money. I'm still not even slightly convinced that leasing isn't the best option." You're absolutely correct - a non-collectible/non-vintage vehicle is NOT an investment. So why pour 5 grand a year, EVERY YEAR, into one? You're going to be spending 50 GRAND every 10 years for transportation. "And on that note becoming a millinaire is much more simple then many people realize. If in a position to save even a little at a young age, almost anyone can retire as a millionaire. Don't for a minute think I have that kind of money though. I still havn't found a good get rich quick deal." You definitely DON'T become a millionaire by splurging on a new car every 2 years - so good luck with that "get rich quick deal".
Wondering Dodge Dakota JOIN HERE 3/06/2004 12:00:08	RE: Advice on selling please. IP: Logged Message: I bet you'll think twice before you put "advice please" in the subject line on a discussion board again!
DSW Dodge Dakota JOIN HERE 3/06/2004 12:39:56	RE: Advice on selling please. IP: Logged Message: Jeremy, your truck is used and your trying to sell it. My comments about purchasing a used truck, which was about the same age as the one your selling, look pretty pertinent to this conversation. Guy asks for advice and doesn't like the feedback, what cha gonna do,,,,,,,,,,,,,,,,,,
RAM Dakota Dodge Dakota JOIN HERE 3/06/2004 13:05:22	RE: Advice on selling please. IP: Logged Message: LMAO I'm sure he will. Sorry, but, I am a really hardcore auto enthusiast (I have a degree in automotive technology). I hate to see people treat cars like they are disposable. I have this funny notion that people don't have any respect for owning vehicles in this country (USA) ie. "It's broken guess I just buy a new one". I realize it is unrealistic to think that everyone will learn how to maintain or repair their own vehicle. But, it would be nice to see more people realize that a vehicle is NOT run down after it has 50,000-100,000 miles on it. those days ended in the nineteen fifties really. Also I realize that apperance plays a large role in why people buy vehicles. It's a really dumb thing we do here (USA) to buy all these gas guzzling rigs just to be stylish. Myself, I would have never bought one if I didn't need to haul a boat or the amount of hauling I have done since I have owned it. That's why my wife drives it most of the time. I don't really enjoy driving a truck much. I would much rather drive my 1975 280Z. It is my second one and I have had it for 12 years. I still think it is one of the best cars ever made LOL. Anyway don't take my comments personal. I have my own hangups about cars as you can see. I'm also really cheap lol and get satisfaction out of getting 2004 performance out of my "beater" 30 year old car.
99DAK Dodge Dakota JOIN HERE 3/06/2004 15:45:19	RE: Advice on selling please. IP: Logged Message: Wouldn't trade my '71 Firebird for ANY new car.
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