Well I am looking for some opinions and some input on my current situation.
I have a 2012 pickup that Is approaching 200000km. I wanting to get into a newer truck. I could probably get 20-25K for the truck selling it privately. Dealer quoted me 15-20K for trade in. I also have a company truck that I drive mostly so I only drive my personal truck about 10000-15000km in a year. With most dealers offering 0% financing it is tempting to get a brand new one but I have not had a truck payment for a few years which is nice. So here are some options I am exploring.
Option 1. Sell the truck private. Put the 20k down on a new truck and finance the remaining. Payments would be a lot lower
Option 2. Finance the whole amount of the new truck at 0% interest rate and put that 20K into a low risk investment account and let it build slowly and if I ever need the reserve money for something it is still there.
Option 3. Buy a slightly used truck for 30-35K with cash money by adding some more on top of the 20K from the old vehicle.
I have only bought and sold a few trucks over the years and have never bought a new one so I am wondering what the best route to go is with only driving that amount of KM a year
I have a 2012 pickup that Is approaching 200000km. I wanting to get into a newer truck. I could probably get 20-25K for the truck selling it privately. Dealer quoted me 15-20K for trade in. I also have a company truck that I drive mostly so I only drive my personal truck about 10000-15000km in a year. With most dealers offering 0% financing it is tempting to get a brand new one but I have not had a truck payment for a few years which is nice. So here are some options I am exploring.
Option 1. Sell the truck private. Put the 20k down on a new truck and finance the remaining. Payments would be a lot lower
Option 2. Finance the whole amount of the new truck at 0% interest rate and put that 20K into a low risk investment account and let it build slowly and if I ever need the reserve money for something it is still there.
Option 3. Buy a slightly used truck for 30-35K with cash money by adding some more on top of the 20K from the old vehicle.
I have only bought and sold a few trucks over the years and have never bought a new one so I am wondering what the best route to go is with only driving that amount of KM a year