Drove an '04 HO....

[Dean Upson]

Originally posted by Joseph Donnelly

DC didn't elaborate, or I was under sensory overload and not paying enough attention, on exactly what they did to make the truck more ready for an exhaust brake. As for brand comparisons, I was telling it like I saw/heard/felt. I did not go in nor end up trying to bash brands unfairly. If you try all three under the towing and hauling conditions, probably even driving empty, I believe you will come to the same conclusions. There really are big differences among the 3 brands.



My 2004 is totally stock, except for a few Diesel Dynamics goodies.



As I have said before, anything under 500 hp is stock.

That was a great evaluation, Joe. Thank's. I don't see any reason to hop in and trade my '03 for the new one, but I sure would not hesitate. (Premature) Kudos for D/C and Cummins.



Dean

 

[Fred Swanson]

Wow Joe, under 500 HP is stock. I guess I'm still driving a stock truck. Same here, just a few DD goodies tucked here and there.



Although explaining the turbo could take some smooth talking.

 

[Joseph Donnelly]

Fred, if the turbo is Holset it MUST be stock

well, stock on something

uhhh, some of the parts of it are stock on something or other

errrrr, it was in stock when I put it on

 

[MMeier]

Awww, come on Matt, just do it you know you want one !!!!!

 

[HoleshotHolset]

"Awww, come on Matt, just do it you know you want one !!!!!"

If it was that easy... I would have done it last Friday night.



Now I'm going to start cursing the 3rd Gen trucks - If I get it in my head that they're bad, then I'll forget about 'em. That'll never happen... . :-laf



Matt

 

[Matt S]

Hey Matt

I jumped off the deep end and got rid of the 90. My new ride should be here 1 week from today!

 

[RobertBolinger]

When I went looking I told the dealer that I wanted to drive the 6 speed, but I would not buy that particular one, because it did not have the option combination I wanted. I also told them that I was going to drive the Ford and Chevy also. After driving 2 different Dodge's at 2 different dealers I didn't bother driving the Ford or the Chevy



Matt, are you a credit union member? My credit union has rates between 2. 99 and 4. 24 and terms from 24-84 months-you might be able to get the payment down going over 60-these trucks will last that long-I hate making payments after it's out of warranty, but that's life.

 

[HoleshotHolset]

I'm a member of two credit unions. The rates are nowhere near that good... I think I'm @ 8. 5% on the VW/Dodge... .



Doesn't the interest increase if the term is longer?



I'm no financial wizard - if I was... . I'd already have a 3rd Gen!



Matt

 

[RobertBolinger]

The total interest payout increases with longer terms. Lower rates may offset this. 8. 5% is high for a CU-have you called them lately?

 

[HoleshotHolset]

They're all the way back in Mass... . and no, I haven't talked to them lately.



I figured the interest to be about $8k... give or take an ounce... for a $32k loan over 60 months...



Matt

 

[PLaFrombois]

Matt



If you're close to the UW or CUNA credit Union you can join. I think I saw rates of 5% for 60 Mo. I'd refinance on your loans for 8. 5%. All you should have to do is fill out another loan application and apply it to the current loans. That should save you enough for a down payment on a 3-gen.



If you can get a 5% at 60 Mo, it should be around $575/Mo. This will be about $2500 in interest. Since you already have to pay this amount each month, divide the payment in half, and actually make two payments of $287. 50. Put a couple extra $$ in these payments, and you'll lower the interest being paid, and will be able to pay it off before the 60 mos.



I don't think I'm welcome at any of the dealers in the Madison area. Since I haven't had any bites on selling my truck, it looks like I'll have to trade with the dealer. None of them will get even close to invoice, but they'll work the numbers so my trade-in looks good. If you want to get together and shop for a truck let me know.



Paul

 

[HoleshotHolset]

Paul: Aren't those rates usually only good for people with really good credit scores? My credit score isn't all that good. Only because I'm young... not because I don't pay my bills on time.



I'd love to shop for trucks with you... let me know.



I'm not in the market now for a newer truck as much as I'd like to be, but I'd love to help someone else out.



What's the deal with making two payments equalling the original payment every month? How does that help? Again, I'm not financially savvy at all. I watch my money pretty well... . but I'm completely ignorant to most financial stuff.



Matt



On edit: I don't know why there are no bites on your truck. When I saw it... I thought it was an '01... it's that nice!

 

[JLockhart]

Originally posted by HoleshotHolset

Paul: Aren't those rates usually only good for people with really good credit scores? My credit score isn't all that good. Only because I'm young... not because I don't pay my bills on time.



I'd love to shop for trucks with you... let me know.



I'm not in the market now for a newer truck as much as I'd like to be, but I'd love to help someone else out.



What's the deal with making two payments equalling the original payment every month? How does that help? Again, I'm not financially savvy at all. I watch my money pretty well... . but I'm completely ignorant to most financial stuff.



Matt



On edit: I don't know why there are no bites on your truck. When I saw it... I thought it was an '01... it's that nice!

Interest rates are at an all-time low and the auto industry really wants to move cars, so if you have a good pay record, you just might qualify.



By making two payments each month, your outstanding balance is reduced faster. The interest you pay is based on your outstanding balance. That is why when you look at a loan statement, the early payments are nearly all interest with little applied to the principle. Later in the term of the loan, nearly all of the payment is applied to principle. In addition, if you pay every two weeks, you'll actually make the equivalent of one additional monthly payment each year. These factors combine to make this a much more effective way to pay off your debt. Credit unions often push this, but banks don't.

 

[HoleshotHolset]

I get paid twice a month... so making two automatically withdrawn payments would be fine with me... .



Hrmmm.....



The two payment thing per month sounds like a good way to go about it. Maybe the IRS will be nice to me and refund ALL the money I gave 'em in '03. :--)



Matt

 

[MFalkinham]

Hi Matt,



I hate to play devil's advocate, but someone should probably do so here. I would like a new 3rd Gen just as much as the next guy, but I just can't swing or justify those payments. So, my 1st Gen will continue to serve my needs since it is paid for.



You are 24 and are thinking about taking on truck payments of $550-600 per month. That is pretty steep, and it seems like you are really trying to talk yourself into this thing. Why not try this first?



Let's assume the monthly difference in $$ between your current truck payment and a new truck is $300. Take that $300 every month and put it in savings (or better yet, a Roth IRA). See how that goes for 9 months. If you are still living your present lifestyle without being strapped, go ahead and buy an '04 Ram at model year-end prices. If you find that you are too strapped, just stop the savings plan, keep the already saved money for a rainy day, and be glad you don't already have a new truck to worry about. Either way you win. It's a good way to test the financial waters, and save up some $$ in the process.



Just a suggestion, Matt.



- Mike

 

[HoleshotHolset]

Mike: That's excellent advice. And thank you for sharing it with me.



I could afford it now if I really wanted it. Your advice is especially good because it's exactly what I should have done my whole life. Slow down, take a deep breath, and realize that there will be other trucks like it when I'm good and ready. My 'youthful enthusiasm' gets ahead of me... and this is yet another example.



Have you driven an '03/'04 yet? You'd be deeply in love the same way that I am if you have driven one... .



My '94 is very close to being paid for... . and I still have the VW to pay for. Perhaps this is a good time to become debt free from an automotive payment standpoint for a while and save up some cash for a sweet downpayment.



Mike, I can't thank you enough for putting me in my place and helping to put things in perspective. I'm young and naive about financial stuff. There's nothing really wrong with my '94 except for the fact that it isn't as nice as a 3rd Gen.



Can I still research the 3rd Gens? :-laf



Matt - plucking my crow and preparing to deep fry/eat it... .

 

[MFalkinham]

Matt,



You're welcome for the advice. I hope it didn't come across as being "preachy". Believe me, it's from the heart and the school of hard knocks. I'm 34 now, but when I was in my early 20's I talked myself into some major vehicle purchases that I shouldn't have.



No, I haven't driven a 3rd Gen yet. I am purposefully staying away from the Dodge dealerships because I'm afraid my willpower may not withstand a truly excellent salesperson.



Feel free to research the 3rd Gen's all you want. I've got one eye on this forum myself just to stay current. That way we'll be ready when that glorious day does arrive!



You mentioned being naive about financial matters. I used to be also, until I read several good books about basic investing and finances. But all of the books have the same basic theme; start saving for retirement when you are young, even if only in small amounts, because time and the power of compounding interest is on your side!



Take care,



- Mike

 

[PLaFrombois]

Matt



I think that's a good idea in not buying a 3G. You should work your way up from your current 12 Valve, then to a 24 Valve, then go for a 3G. By the time you've finished those three steps, Dodge might have their new 500/800 Cummins ready to roll off the line.



Do you still want to buy my truck?



Paul

 

[HoleshotHolset]

Mike: I didn't think you were preaching at all. You were offering a young guy some very good advice. You did the right thing and I really appreciate it!



You will need an absolutely insane amount of willpower. I have worked over more scenarios than I care to admit that would allow me to get behind the wheel of my own 3rd Gen truck. Some of the scenarios were even pretty reasonable.



Paul: Your truck is SWEET! A LOADED 2nd Gen ISB that's insanely clean would look rather nice parked in my neck of the woods. No offense to your truck, but I want to row through the gears on my next truck.



I like your idea of moving up the ladder in terms of trucks... . I can't skip generations of engines like that and go from a low-tech 12-valve right into the seat of an ISBe.



A 3rd Gen 3500 (SRW) quad cab/short bed 4x4 (Laramie, of course... ) truck with a NV5600 and a 12-valve 6BT - now that's a truck!!



Matt

 

[PLaFrombois]

Matt



I'll glue a stick on the floor for you, and take a sound bite from one of the exhaust sites, so when you press a button it'll sound like you're running through the gears.



Paul