Would You Trade Up? - Page 2 - Vehicles - Contractor Talk

Would You Trade Up?

 
Thread Tools Search this Thread Display Modes
Old 12-16-2016, 08:17 PM   #21
Pro
 
hdavis's Avatar
 
Trade: remodeling
Join Date: Feb 2012
Location: CoastalME
Posts: 23,123
Rewards Points: 2,036

Re: Would You Trade Up?


Could be. It still boils down to your financial risk profile....
hdavis is offline  

Warning: The topics covered on this site include activities in which there exists the potential for serious injury or death. ContractorTalk.com DOES NOT guarantee the accuracy or completeness of any information contained on this site. Always use proper safety precaution and reference reliable outside sources before attempting any construction or remodeling task!

   

Advertisement

 

Old 12-16-2016, 08:46 PM   #22
Artist and not a curator
 
Deckhead's Avatar
 
Trade: Carpentry,
Join Date: Dec 2010
Location: Sarasota, Florida
Posts: 7,749
Rewards Points: 13,146

Re: Would You Trade Up?


Maybe it's just me but I don't mind driving some 8 year old truck that some fire chief drove back and forth to car accidents for 60k miles so long as the price is right. Love me a good auction and a beat up inside with solid mechanicals. I really REALLY hate having debt.

Car payments just bother me. Hell, equipment payments bother me. I was told a long time ago, every dollar you borrow is a doar twenty-five you are forced to make. His point was stress not interest, when it's free and clear if things got real slim, you have an asset that can be sold if you owe on it, it's one more liability.

Some of you guys are good businessmen though and understand how to juggle and make all that work in your favor. I just know if I cut wood and don't owe anyone anything, life is a lot easier for me and the whole name of my game is low working overhead, so it's used and gets abused as long as when a check clears, it's mostly goes into the company coughers.
__________________
[signature removed by admin]
Deckhead is offline  
The Following 3 Users Say Thank You to Deckhead For This Useful Post:
Jaws (12-17-2016), overanalyze (12-18-2016), wazez (12-17-2016)
Old 12-16-2016, 08:55 PM   #23
Pro
 
EricBrancard's Avatar
 
Trade: Builder/Renovator
Join Date: Jun 2012
Location: Connecticut
Posts: 6,388
Rewards Points: 310

Re: Would You Trade Up?


Quote:
Originally Posted by Deckhead View Post
it's mostly goes into the company coughers.
You work with a lot of smokers?
EricBrancard is online now  
The Following 2 Users Say Thank You to EricBrancard For This Useful Post:
Deckhead (12-16-2016), parkers5150 (12-23-2016)
Sponsored Links
Advertisement
 
Old 12-16-2016, 09:18 PM   #24
Pro
 
hdavis's Avatar
 
Trade: remodeling
Join Date: Feb 2012
Location: CoastalME
Posts: 23,123
Rewards Points: 2,036

Re: Would You Trade Up?


Quote:
Originally Posted by EricBrancard View Post
You work with a lot of smokers?

Must be some expensive smoke if the whole check goes there...
hdavis is offline  
The Following User Says Thank You to hdavis For This Useful Post:
EricBrancard (12-16-2016)
Old 12-16-2016, 09:40 PM   #25
Pro
 
Home wood's Avatar
 
Trade: carpentry
Join Date: Mar 2014
Location: bowmanville on.
Posts: 174
Rewards Points: 386

Re: Would You Trade Up?


Don't get me wrong this is the only one I have payments on.
My work van is older and paid for 2010 gmc 2500. It's for an employee company truck. I would not finance for an employee to drive work vehicle.
My wife's mini van is 2008 Chevy and I would not finance a van for wifey to put around and take kids to school.
My Harley and my Cobra roadster both, no payments on toys.
As for my truck it's a company expense, bring the taxes down, and @ 0% and no down it's free money I can keep as operating capital and just pay monthly.
Trade in once the debt and trade value equal out.
Home wood is offline  
The Following 2 Users Say Thank You to Home wood For This Useful Post:
Jaws (12-17-2016), KAP (12-17-2016)
Old 12-16-2016, 10:00 PM   #26
Drywall Slave
 
blacktop's Avatar
 
Trade: drywall contractor
Join Date: Oct 2012
Location: VA.
Posts: 9,390
Rewards Points: 214

Re: Would You Trade Up?


I'm thinking about giving my son my 06 silver and buying an old clunker to scoot around in
blacktop is offline  
The Following User Says Thank You to blacktop For This Useful Post:
Deckhead (12-16-2016)
Old 12-16-2016, 10:03 PM   #27
Geometrist

 
Warren's Avatar
 
Trade: framing/remodeling
Join Date: Feb 2005
Location: NE Ohio
Posts: 10,062
Rewards Points: 331

Re: Would You Trade Up?


I just don't get paying $700 a month forever, and never actually owning anything. If you are just more comfortable driving something newer, I can accept that, but to me, the math does not add up to the "free money" that some are proclaiming.
__________________
I'd love to replace all the dumbness in this room but the budget is tight and the stupidity is plentiful!

Easy Gibson
Warren is offline  
The Following 2 Users Say Thank You to Warren For This Useful Post:
Metro M & L (12-17-2016), overanalyze (12-18-2016)
Old 12-16-2016, 11:29 PM   #28
Pro
 
Peter_C's Avatar
 
Trade: Home Beautification
Join Date: Nov 2014
Location: NorCal
Posts: 2,077
Rewards Points: 412

Re: Would You Trade Up?


My friend buys a new truck himself, then leases it to his company. There are lots of tricks if you have the right accountant. Not uncommon for businesses to show a loss, after all employees get paid, and equipment/land depreciated.
Peter_C is offline  
Old 12-16-2016, 11:30 PM   #29
Pro
 
Anderson's Avatar
 
Trade: Home improvement contractor
Join Date: Sep 2009
Location: Wilton,CT
Posts: 995
Rewards Points: 1,194

Re: Would You Trade Up?


Snap, Just picked this up yesterday cant go wrong with current deals got just over 10k off this one.
Attached Thumbnails
Would you trade up?-20161215_134534.jpg  
Anderson is offline  
Old 12-16-2016, 11:36 PM   #30
The Sheriff

 
Jaws's Avatar
 
Trade: GC
Join Date: Dec 2010
Location: Texas
Posts: 23,185
Rewards Points: 4,472

Re: Would You Trade Up?


Quote:
Originally Posted by Warren View Post
I just don't get paying $700 a month forever, and never actually owning anything. If you are just more comfortable driving something newer, I can accept that, but to me, the math does not add up to the "free money" that some are proclaiming.
Really all depends on income and your priorities, right?

This year I'm more comfortable not having any payments. Never paid 700 btw. 500 tops for 3 years was the worst for me for a work truck. Same for my wifes and hers was loaded and new
__________________
"The sound of the saftey clicking off is the only warning your gonna get......., so cover your ears" Northeast Wyoming 2016

John

Last edited by Jaws; 12-16-2016 at 11:38 PM.
Jaws is online now  
Old 12-16-2016, 11:44 PM   #31
Artist and not a curator
 
Deckhead's Avatar
 
Trade: Carpentry,
Join Date: Dec 2010
Location: Sarasota, Florida
Posts: 7,749
Rewards Points: 13,146

Re: Would You Trade Up?


I definitely don't think there's a one size fits all approach, it really doesn't solve any problems. Mine is due in part to 2 things, 1 is the way I run my business and the second is because I'm so hard on vehicles it'd be absolutely silly for me to buy a new one. For others it makes perfect sense.

That being said I buy my wife the new stuff and me the functional. Any payment is just a hard pull to swallow for me.
__________________
[signature removed by admin]
Deckhead is offline  
Old 12-16-2016, 11:45 PM   #32
Artist and not a curator
 
Deckhead's Avatar
 
Trade: Carpentry,
Join Date: Dec 2010
Location: Sarasota, Florida
Posts: 7,749
Rewards Points: 13,146

Re: Would You Trade Up?


Quote:
Originally Posted by hdavis View Post
Must be some expensive smoke if the whole check goes there...
Crack... **** gets pricey
__________________
[signature removed by admin]
Deckhead is offline  
The Following User Says Thank You to Deckhead For This Useful Post:
Metro M & L (12-17-2016)
Old 12-17-2016, 12:23 AM   #33
Pro
 
EricBrancard's Avatar
 
Trade: Builder/Renovator
Join Date: Jun 2012
Location: Connecticut
Posts: 6,388
Rewards Points: 310

Re: Would You Trade Up?


Quote:
Originally Posted by Jaws View Post
Really all depends on income and your priorities, right?

This year I'm more comfortable not having any payments. Never paid 700 btw. 500 tops for 3 years was the worst for me for a work truck. Same for my wifes and hers was loaded and new
My Tahoe was like $700+ for 60 months. And that's back when they were like a little over $50k loaded. I have no idea how people are spending $70-$80k on the new ones.
EricBrancard is online now  
Old 12-17-2016, 12:28 AM   #34
Pro
 
dayexco's Avatar
 
Trade: entrepreneur of excavating expertise
Join Date: Mar 2006
Posts: 6,368
Rewards Points: 176

Re: Would You Trade Up?


you really buy a GMC?

their advertising lately looks like they're catering to the girly boys from NYC.
dayexco is online now  
Old 12-17-2016, 12:53 AM   #35
Artist and not a curator
 
Deckhead's Avatar
 
Trade: Carpentry,
Join Date: Dec 2010
Location: Sarasota, Florida
Posts: 7,749
Rewards Points: 13,146

Re: Would You Trade Up?


Quote:
Originally Posted by dayexco View Post
you really buy a GMC?

their advertising lately looks like they're catering to the girly boys from NYC.
Duh, why do you think he bought one
__________________
[signature removed by admin]
Deckhead is offline  
The Following User Says Thank You to Deckhead For This Useful Post:
blacktop (12-18-2016)
Old 12-17-2016, 07:56 AM   #36
Pro
 
builditguy's Avatar
 
Trade: Carpentry
Join Date: Nov 2013
Location: Missouri
Posts: 2,102
Rewards Points: 1,272

Re: Would You Trade Up?


I used to keep all vehicles paid for. The last few years, I've bought newer and the business had a payment.

For me, the trade off is maintenance. Having a newer, low mileage truck, requires less maintenance than an older truck. Generally speaking.

I like having a nice newer truck. I don't like payments, but that comes with the territory. For the most part I keep any payments to a minimum. Live by the rule, if I break a leg, how long can I survive.
If I had alot of payments, not long.
builditguy is offline  
Old 12-17-2016, 08:40 AM   #37
Pro
 
Windycity's Avatar
 
Trade: Masonry
Join Date: Oct 2015
Location: chicago
Posts: 2,011
Rewards Points: 7,988

Re: Would You Trade Up?


Quote:
Originally Posted by builditguy View Post
I used to keep all vehicles paid for. The last few years, I've bought newer and the business had a payment.

For me, the trade off is maintenance. Having a newer, low mileage truck, requires less maintenance than an older truck. Generally speaking.

I like having a nice newer truck. I don't like payments, but that comes with the territory. For the most part I keep any payments to a minimum. Live by the rule, if I break a leg, how long can I survive.
If I had alot of payments, not long.


I agree, it is so nice having older paid off vehicles but you have to factor the down time and the pain in the azz factor that a broken down vehicle always comes at the worst time work wise.

Another thing i factor in is looking at the capabilities of the vehicle...some people only look at price but personally if i can spend a little bit more and get a vehicle that has more capabilities then i dont mind spending extra money on it.

One thing I also consider is if you put a decent down payment on a vehicle when times get tough you could always sell it and usually walk away from it as opposed to losing it... so I look at the balance of having a paid off vehicle versus car payments in a way that if times get tough I'm in a decent financial position with the vehicle..

Used Trucks usually sell pretty quick


Sent from my iPhone using Tapatalk

Last edited by Windycity; 12-17-2016 at 08:43 AM.
Windycity is online now  
Old 12-17-2016, 04:16 PM   #38
Pro
 
BamBamm5144's Avatar
 
Trade: Everything Exterior, Mostly Roofing.
Join Date: Jul 2008
Location: Wisconsin
Posts: 7,181
Rewards Points: 2,786

Re: Would You Trade Up?


I became sick and tired of driving others people junk. This year I bought two brand new Silverado trucks. One a basic work truck and the other a little more fancy for me driving around.

Factory warranties are great and I know everything that happens to them. I don't care much about the payments. It's either spend 45k in cash or spend $0 up front, finance it and pay 49k over 5 years.



Sent from my SM-G930V using Tapatalk
BamBamm5144 is offline  
Old 12-17-2016, 06:30 PM   #39
Contractor of the Month
 
Inner10's Avatar
 
Trade: Control Systems
Join Date: Mar 2009
Location: Ottawa, ON
Posts: 25,617
Rewards Points: 3,952

Re: Would You Trade Up?


Quote:
Originally Posted by BamBamm5144 View Post
I became sick and tired of driving others people junk. This year I bought two brand new Silverado trucks. One a basic work truck and the other a little more fancy for me driving around.

Factory warranties are great and I know everything that happens to them. I don't care much about the payments. It's either spend 45k in cash or spend $0 up front, finance it and pay 49k over 5 years.



Sent from my SM-G930V using Tapatalk
After many years of driving old **** I got my first brand new set of wheels in 2007, since then I haven't had a vehicle over 4 years old. I kinda like driving new stuff.
__________________
The Following User Says Thank You to Inner10 For This Useful Post: Leo G
Inner10 is offline  
The Following User Says Thank You to Inner10 For This Useful Post:
BamBamm5144 (12-17-2016)
Old 12-17-2016, 07:10 PM   #40
Pro
 
SectorSecurity's Avatar
 
Trade: Low Voltage Wiring
Join Date: Nov 2013
Location: Ontario
Posts: 4,048
Rewards Points: 2,828

Re: Would You Trade Up?


Just got my first ever new vehicle last year and I miss driving around in a paid off older model.

Next one I buy will be from a government auction as long as it wasn't used by the military.

I like having no payment and I'm not much of a car maintenance person

Sent from my XP7700 using Tapatalk

Advertisement

SectorSecurity is offline  


Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Tired of my trade. Don't think i want to do it anymore maleko General Discussion 204 06-16-2012 03:53 PM
Craft and Trade Workers Needed for Houston, TX AMcP3062 Help Wanted or Looking For Work 0 05-29-2012 01:38 PM
Hating in the Tile trade.. MortarForker Off Topic (Non Trade) 5 08-14-2011 12:22 AM
Another silver lining in these dark clouds Mike Finley Business 0 04-02-2008 02:36 PM

Join Now... It's Fast and FREE!

I am a professional contractor
I am a DIY Homeowner
Drywall Talk is for
PROFESSIONAL CONTRACTORS ONLY!

At DrywallTalk.com we cater exlusivly to professional contractors who make their living as a contractor. Knowing that many homeowners and DIYers are looking for a community to call home, we've created www.DIYChatroom.com DIY Chatroom is full of helpful advices and perfect for DIY homeowners.

Redirecing in 10 seconds
No Thanks
terms of service

Already Have an Account?