New Rig...

[ArmyofOne]

Well, I returned home from my final deployment recently and I wanted to go get the rig of my dreams. I found one yesterday, it literally fell in my lap while I was in for service. She is a 2011 Ram 1500 Big Horn 4x4 Crewcab. Options include:

-Tow Package

-In-dash DVD Player/touch screen/HDD Radio

-5.7L Hemi

-Split folding rear bench with lockable in-floor storage compartments

-Rhino Spray-in Bedliner

-AWD (4x4 Auto)

-Multiple Displacement System 4-Cylinder Shutdown.

-Factory Dual exhaust.

-20" Wheels

-CLIV Trailer Hitch

-Power Memory front seats

-U-connect

-heated steering wheel

...the list goes on.

They threw in a soft tonneau cover, which I get to pick up monday if it comes in. They are also letting me go in monday, put both trucks on a lift side-by-side and swap my new brakes, and my new Total Load Control helper air springs for the rear end. I swapped everything else yesterday at the lot. So without futher ado...here she is!:

Old with the new:

[nc211]

Nicely done, Josh! She's a sweet rig indeed, and worthy of it's owner! Welcome home, soldier!

[lenore]

Hey nice rig, still like my Ford F150 though....just kidding. My son-in-law has one of those too....

[SW03ES]

Nice!

[ArmyofOne]

Yeah I dont nessecarily like the deal I got, but I am ok with it...just ok.

I got $0 down and 84 months at $501/month and 3% interest. We LOVE the rig though. I plan to pay it off within the year, I just needed to build my credit and the lowest interest rate was 84 months (which is weird). This is definately the longest loan I have had, but at 3% I should be able to pay it off even at the minimum faster than it depreciates. My plan is this time next year to cash in part of my portfolio, buy a home outright and payoff my truck.

Steve, is 84 Months a common loan term nowadays? Seems to be, I know a couple others who are in 84 or even 96 month terms. O_O

[SW03ES]

84 is definitely pretty long. I'd never finance a car purchase that long without gap insurance. I would say the norm nowadays is 60 months.

My plan is this time next year to cash in part of my portfolio, buy a home outright and payoff my truck.

Don't do that! You're too young to be cashing out your portfolio to pay things off, especially at low interest rates like 3% on your car or 3.5% on a house. Plus, your mortgage interest is tax deductible, so the effective interest rate is even less. Put 20% down, and leave the rest in your portfolio to build and make you money over time. When you factor in the tax ramifications of cashing the money out all at once on top of the fact that you loose the mortgage deduction and the future compounded interest and growth over the next 30-40 years until you retire (I forget how old you are) it will cost you a FORTUNE to do that.

Hell, you're eligible for a VA loan! I wouldn't put anything down, buy it 100% financing, theres no mortgage insurance on a VA loan, and get the seller to pay the funding fee, or cash out just enough to pay it.

Don't worry about owning a home outright until you don't have any income to deduct the mortgage interest from anymore...i.e. when you're retired.

[ArmyofOne]

good advice. we are 2/3 through our trip now. leaving Gatlinburg TN tomorrow!