What vehicle to tow with?

[Fozbo]

$7K IS enough to buy a nice, new enough truck. Using that money to pay off loans wouldn't make that much sense if you're taking another loan to buy the truck anyways.

Who said anything about taking another loan? I am saying that I have $7k cash to put towards a truck. If I take out a loan for say a $10k truck, I could give the bank my $7k, and they give me a loan check for $10k, and it's like I am loaning $3k.

I guess what it's really coming down to is whether I want to buy a rather used truck now in college (Junior with two more years left) and then sell it and buy a brand new car once I get out, or to get a decent enough vehicle that will last me a few years into my career. The loan wouldn't bother me too much to pay off since I can pay for school between my scholarships and internships. Oh and the supra is never gonna be sold, so it will always be supra + whatever other car I have.

 

[romaniello]

And you will be paying interest on $10k instead of just getting a loan for $3k
Not smart at all.

 

[Sil]

If you want decent millage with towability get a Cummins or a Powerstroke powered truck, although stay away from the 6.0 L Powerstroke on 03 and newer trucks, its a POS. I've never been a fan of Duramax diesels, but Chevy trucks do ride a bit nicer than Fords, but to me in a truck that doesn't really matter. A diesel will give you many years/miles of service, think of it as a long term investment, plus they hold their values waaay better than a gasoline powered truck.

 

[tsuper92]

^^^the chevy's don't have a straight axle in the front,deffinatly a better ride.my dodge is pretty rough riding with the dana 60 up front

 

[Fozbo]

And you will be paying interest on $10k instead of just getting a loan for $3k
Not smart at all.

Sorry, I meant that I'd basically be getting a $3k loan and adding in the $7k so that the bank would turn around and give me a single $10k check to buy the truck (isn't that the same as getting a $10k loan and paying $7k on the principle right off the bat? Sorry, I'm an engineer not an economist ).

I was talking to my dad earlier today and he suggested just getting a cheap, tow capable truck without very much attention to the gas mileage since I don't drive very far at all on average - and everyone is trying to get rid of the gas guzzlers left and right. Meaning I could pay a ton less upfront and take a little hit on gas over a couple of years and still come out ahead money wise and towing ability wise since I wouldn't keep it for that long.

 

[chevyeater]

Sorry, I meant that I'd basically be getting a $3k loan and adding in the $7k so that the bank would turn around and give me a single $10k check to buy the truck (isn't that the same as getting a $10k loan and paying $7k on the principle right off the bat? Sorry, I'm an engineer not an economist ).

I was talking to my dad earlier today and he suggested just getting a cheap, tow capable truck without very much attention to the gas mileage since I don't drive very far at all on average - and everyone is trying to get rid of the gas guzzlers left and right. Meaning I could pay a ton less upfront and take a little hit on gas over a couple of years and still come out ahead money wise and towing ability wise since I wouldn't keep it for that long.

I agree with your dad and that is why I got the truck I did. The premium for a Diesel just isn't worth it unless you are literally going to be in it for the long haul. An LS motored GM, modular Ford or Hemi Dodge will have more than enough balls to drag around a Supra. A 3/4 ton pickup version (from any of the big three really) will be bombproof as far as drivetrain reliability.

You will not find any "nice" or even "decent" Cummins, Duramax or Powerstroke trucks for $10k. You can find a "small block" gas version in that neighborhood though.