That sounds good to me but he said he's a student. He might not have $7k of earned income. Also I don't think he's over 50 and would be limited to $6k.
I would second this, but sometimes you pay to have fun. From here it’s deciding whether that fun is worth 7-10 grand now or you want fun later in life. At least that’s how I balance out fun vs investing, what will make me happiest now or future? Some things I can hold out on and some things I find the fun to outweigh the cost. But that’s if you have a job that will keep you employed and such. If you keep that current truck till it needs a serious repair(90k plus miles) and till it dies, stay with your current truck. If you plan to sell the truck in the future, get a new truck like @AzScorpion said because it really won’t be worth that much with different time conditions and it being 5 years old with 60k and hail damage vs 15k almost like new with hail damage. It will just depreciate more and more, something to consider.
Funny hearing that, me and my roommates watched 4 cars get stuck on the roundabout off of our balcony in the last bad storm.Lubbock? A fellow Red Raider? I'm all to familiar with Lubbock flooding when I went to school out there lol. My roommates and I would sit on our patio and place bets on which cars would get flooded at the roundabout outside
I saved up a couple thousand last summer and put it into a Roth IRA. As far as my current truck, I worked for it to be paid off before the hail got to it. If I can be back in that situation with a better truck with no damage then I’d say it’s a sensible decision.
You were able to pay off a brand new truck and start a retirement savings while still a student!?!?! Just how much does FedEx pay, and are they hiring?
How’d you know I work at FedEx?? FedEx Express pays well to material handlers and us employees all get great benefits. Even part time guys get full benefits. Tons of older guys here that just stick around for 4 hours a day and get health care, dental, even eye doctor visits.
If you have access to another vehicle I'd sell the Ranger now. If you can arrange a long term rental from your father you can save some money in the form of payments and buy when the market is better.
I ordered mine 5/11 with an estimated 16-23 week build time.
FYI, when I ordered back in December of 2018 (at the start of production), it took about 16 weeks to get mine. Given the current parts shortages and shutdowns, I'd say the 16-23 week timeframe seems reasonable.
As someone who ordered April 27, Mine is not expected at the dealer until august 4. That is a rough estimate and my order was given a high priority number from the dealer. Id say double estimate that as a starting point, especially with the on going supply issues.
