What is the best way to finance the purchase of your truck?
New truck or used truck, they have different requirements, but new truck can be as big of a money pit as an old one. Do you borrow more then purchase price, for the cost of operation, or do you rely on getting a line of credit for that?
When I purchased my truck, from an individual, I worked for the MC who let me borrow against 401k, which i did. I borrowed $13k, no penalty, paying it back at 6% interest, all to me. This was my operational money fund, to use just in case engine drops out.
I financed purchase price of the truck $22k @14% interest for two years with Navistar, paid it off one month earlier.
Is this a good question?