Mike "Wuzzy121". Rest in peace, brother

Go Back   Tacoma World Forums > Tacoma Discussion > 2nd Gen. Tacomas

Notices

Who has their truck Paid off?

View Poll Results: Is your truck paid off...
Yes 2,035 49.20%
NO 1,856 44.87%
Someone else paid it off for me... and i can admit it. 245 5.92%
Voters: 4136. You may not vote on this poll

Reply
 
Thread Tools Search this Thread
Old 03-15-2013, 08:26 AM   #1201
Senior Member
wlmuncy is one of the sharper tools in the shedwlmuncy is one of the sharper tools in the shedwlmuncy is one of the sharper tools in the shedwlmuncy is one of the sharper tools in the shedwlmuncy is one of the sharper tools in the shedwlmuncy is one of the sharper tools in the shedwlmuncy is one of the sharper tools in the shedwlmuncy is one of the sharper tools in the shedwlmuncy is one of the sharper tools in the shedwlmuncy is one of the sharper tools in the shedwlmuncy is one of the sharper tools in the shed
 
wlmuncy's Avatar
Air Force: 72nd Security Forces, Tinker AFB
Name: William
Joined: Mar 2010, #32838
Location: Knoxville, TN
Gender: Male
Posts: 782
wlmuncy's Tacoma Gallery
Quote:
Originally Posted by CannondaleMan View Post
Instead, if you take that $570 monthly payment, save it up over the 5 years you can then walk into the dealer and walk out with the truck and no payment. Then, you just start saving the amount of whatever that payment would be again and begin the process again.

This. You are making a car payment, but to yourself. You act as your own bank.
  Reply With Quote
Old 03-15-2013, 08:43 AM   #1202
TeamBlue
alegav is one of the sharper tools in the shedalegav is one of the sharper tools in the shedalegav is one of the sharper tools in the shedalegav is one of the sharper tools in the shedalegav is one of the sharper tools in the shedalegav is one of the sharper tools in the shedalegav is one of the sharper tools in the shedalegav is one of the sharper tools in the shedalegav is one of the sharper tools in the shedalegav is one of the sharper tools in the shedalegav is one of the sharper tools in the shed
 
alegav's Avatar
Name: Alex
Joined: Jun 2012, #81219
Location: San Diego, CA
Age: 27
Gender: Male
Posts: 1,057
alegav's Tacoma Gallery
Send a message via AIM to alegav Send a message via Yahoo to alegav
Quote:
Originally Posted by CannondaleMan View Post
Not everyone, but financing a depreciating "asset" is ludicrous.

Think about it. You take out a loan for your brandidy new 2013 Taco for $29,000 at 1.79% for 60 months. You pay about $1450 in interest over that 5 years. Plus your truck loses a huge portion of its value over those 5 years. So you are paying interest on a loan for something that is losing its value at the same time.

Instead, if you take that $570 monthly payment, save it up over the 5 years you can then walk into the dealer and walk out with the truck and no payment. Then, you just start saving the amount of whatever that payment would be again and begin the process again.

Just makes financial sense.

That is not to mean that it is not difficult. I was not able to do this until I was 36 years old. Made a bunch of stupid financial moves along the way which were my fault. I have gotten to the point that I cannot stand debt. Ever. The only debt we have is our mortgage. No credit cards, no car loans, no money owed to anyone but the credit union for my mortgage and we are busting our butts to get that whacked.

The other benefit of no car payment is that you have less stress. If you lose your job, become injured, get hours cut, etc.., you have one less huge bill to worry about. A paid off truck cannot be repossessed.

The other benefit is that while you are saving up that money for your new truck, if - God forbid - something happens you have an "emergency fund" of sorts if you need a new roof, septic system, or whatever.

It just makes financial sense. You do not need to go through life in debt. Hard to get to the point that you can do this.....but so worth it.
I like this!!! Something to strive for. Thanks for the insight
  Reply With Quote
Old 03-15-2013, 08:51 AM   #1203
Senior Member
Trusso24 has a brilliant futureTrusso24 has a brilliant futureTrusso24 has a brilliant futureTrusso24 has a brilliant futureTrusso24 has a brilliant futureTrusso24 has a brilliant futureTrusso24 has a brilliant futureTrusso24 has a brilliant futureTrusso24 has a brilliant futureTrusso24 has a brilliant futureTrusso24 has a brilliant future
 
Trusso24's Avatar
Name: Tony
Joined: Feb 2013, #96649
Location: San Luis Obispo
Gender: Male
Posts: 540
Trusso24's Tacoma Gallery
Quote:
Originally Posted by alegav View Post
I like this!!! Something to strive for. Thanks for the insight
x2

I bought my first gen cash but I will definitely be employing this as of today as best I can. Damn mods getting in the way of saving....
  Reply With Quote
Old 03-15-2013, 08:58 AM   #1204
Senior Member
PnoyBOS5 is one of the sharper tools in the shedPnoyBOS5 is one of the sharper tools in the shedPnoyBOS5 is one of the sharper tools in the shedPnoyBOS5 is one of the sharper tools in the shedPnoyBOS5 is one of the sharper tools in the shedPnoyBOS5 is one of the sharper tools in the shedPnoyBOS5 is one of the sharper tools in the shedPnoyBOS5 is one of the sharper tools in the shedPnoyBOS5 is one of the sharper tools in the shedPnoyBOS5 is one of the sharper tools in the shedPnoyBOS5 is one of the sharper tools in the shed
 
PnoyBOS5's Avatar
Army: 11B Infantryman (Vet.)
Name: chris
Joined: Jan 2010, #29087
Location: 209 CA
Gender: Male
Posts: 698
PnoyBOS5's Tacoma Gallery
I could pay it off right now but want to build my credit.. so far @ 718 score when I get to 800 ill just drop it all for the title
  Reply With Quote
Old 03-15-2013, 09:16 AM   #1205
Senior Member
Spitz Stang is one of the sharper tools in the shedSpitz Stang is one of the sharper tools in the shedSpitz Stang is one of the sharper tools in the shedSpitz Stang is one of the sharper tools in the shedSpitz Stang is one of the sharper tools in the shedSpitz Stang is one of the sharper tools in the shedSpitz Stang is one of the sharper tools in the shedSpitz Stang is one of the sharper tools in the shedSpitz Stang is one of the sharper tools in the shedSpitz Stang is one of the sharper tools in the shedSpitz Stang is one of the sharper tools in the shed
 
Spitz Stang's Avatar
Name: Mark
Joined: Nov 2008, #11042
Location: Houston, TX
Age: 39
Gender: Male
Posts: 317
Spitz Stang's Tacoma Gallery
Quote:
Originally Posted by CannondaleMan View Post
Not everyone, but financing a depreciating "asset" is ludicrous.

Think about it. You take out a loan for your brandidy new 2013 Taco for $29,000 at 1.79% for 60 months. You pay about $1450 in interest over that 5 years. Plus your truck loses a huge portion of its value over those 5 years. So you are paying interest on a loan for something that is losing its value at the same time.

Instead, if you take that $570 monthly payment, save it up over the 5 years you can then walk into the dealer and walk out with the truck and no payment. Then, you just start saving the amount of whatever that payment would be again and begin the process again.

Just makes financial sense.

That is not to mean that it is not difficult. I was not able to do this until I was 36 years old. Made a bunch of stupid financial moves along the way which were my fault. I have gotten to the point that I cannot stand debt. Ever. The only debt we have is our mortgage. No credit cards, no car loans, no money owed to anyone but the credit union for my mortgage and we are busting our butts to get that whacked.

The other benefit of no car payment is that you have less stress. If you lose your job, become injured, get hours cut, etc.., you have one less huge bill to worry about. A paid off truck cannot be repossessed.

The other benefit is that while you are saving up that money for your new truck, if - God forbid - something happens you have an "emergency fund" of sorts if you need a new roof, septic system, or whatever.

It just makes financial sense. You do not need to go through life in debt. Hard to get to the point that you can do this.....but so worth it.

This is a great way to manage money. However, one little piece that the guys who preach these methods always leave out is the time value of money consideration.

Same scenario you mention above, but invest the $29K for 5 years and pay the note. At the end of 5 years you end up with $6.5K net of the interest paid on the truck (assuming a 5% annual return). The truck depreciates either way (paid cash or financed), but this way you end up $6K richer - the money worked for and paid you for 5 years.

This only works if you can get a great rate on the loan (ie. 1.79%) AND be disciplined enough to invest the money and not just blow it all on mods.

Not trying to start an argument, just pointing out that there are times when financing is useful and beneficial.
  Reply With Quote
Old 03-15-2013, 09:26 AM   #1206
Senior Member
PepsiManKolt is one of the sharper tools in the shedPepsiManKolt is one of the sharper tools in the shedPepsiManKolt is one of the sharper tools in the shedPepsiManKolt is one of the sharper tools in the shedPepsiManKolt is one of the sharper tools in the shedPepsiManKolt is one of the sharper tools in the shedPepsiManKolt is one of the sharper tools in the shedPepsiManKolt is one of the sharper tools in the shedPepsiManKolt is one of the sharper tools in the shedPepsiManKolt is one of the sharper tools in the shedPepsiManKolt is one of the sharper tools in the shed
Air Force: Aerial Porter
Name: Kolt
Joined: Jan 2013, #96438
Location: Gig Harbor, WA
Age: 27
Gender: Dude
Posts: 1,663
PepsiManKolt's Tacoma Gallery
Quote:
Originally Posted by 97PinoyTacoma View Post
I could pay it off right now but want to build my credit.. so far @ 718 score when I get to 800 ill just drop it all for the title
Like I said earlier, I don't finance anything but financing a car is not the only way that you can get your score up. This is the only reason I have a credit card. I use my credit card and pay it off immedietly. By doing this you are showing your bank that you are using the card but you don't even get hit with an interest fee because your paying it off before it can be effected. I have a score close to a 780 and well on my way up.
  Reply With Quote
Old 03-15-2013, 09:32 AM   #1207
Senior Member
mcdee is a jewel in the roughmcdee is a jewel in the roughmcdee is a jewel in the rough
Name: mike
Joined: Nov 2011, #66922
Location: Northern Cal
Gender: Male
Posts: 217
mcdee's Tacoma Gallery
Quote:
Originally Posted by CannondaleMan View Post
Not everyone, but financing a depreciating "asset" is ludicrous.

Think about it. You take out a loan for your brandidy new 2013 Taco for $29,000 at 1.79% for 60 months. You pay about $1450 in interest over that 5 years. Plus your truck loses a huge portion of its value over those 5 years. So you are paying interest on a loan for something that is losing its value at the same time.

Instead, if you take that $570 monthly payment, save it up over the 5 years you can then walk into the dealer and walk out with the truck and no payment. Then, you just start saving the amount of whatever that payment would be again and begin the process again.

Just makes financial sense.

That is not to mean that it is not difficult. I was not able to do this until I was 36 years old. Made a bunch of stupid financial moves along the way which were my fault. I have gotten to the point that I cannot stand debt. Ever. The only debt we have is our mortgage. No credit cards, no car loans, no money owed to anyone but the credit union for my mortgage and we are busting our butts to get that whacked.

The other benefit of no car payment is that you have less stress. If you lose your job, become injured, get hours cut, etc.., you have one less huge bill to worry about. A paid off truck cannot be repossessed.

The other benefit is that while you are saving up that money for your new truck, if - God forbid - something happens you have an "emergency fund" of sorts if you need a new roof, septic system, or whatever.

It just makes financial sense. You do not need to go through life in debt. Hard to get to the point that you can do this.....but so worth it.
A couple of personal thoughts/opinions I have tried to pass onto my daughter: 1. People are looking for investments-one of the best investments you'll ever make is not to have credit card debt. 2. Once you go into debt you tend to lose independence.
  Reply With Quote
Old 03-15-2013, 02:54 PM   #1208
Member
Jholden is on a distinguished road
Joined: Jul 2012, #83169
Location: Midwest
Gender: Male
Posts: 63
Jholden's Tacoma Gallery
Smile

Quote:
Originally Posted by PepsiManKolt View Post
^I've been working since I was 14 and buying and selling cars/trucks/motorcycles since then (buy low, sell high and don't let it depreciate). I take the money from selling the previous vehicle and put it towards the current one(s). I sold my customized 2009 Mercedes Benz C300 4matic for this truck.


Same. I'm 21 and have bought and sold about 60 vehicles plus trailers, construction equipment ect. It's all about making your money make you money. I am now transitioning into real estate to implement the same practices.

I started out with $200 trailers and mowers when I was 14. I just closed on a house with a 129k price tag. Paid for in cash and will hopefully profit about 20k from the deal.

You can do anything you set your mind to with enough discipline.
  Reply With Quote
Old 03-15-2013, 02:57 PM   #1209
Senior Member
PepsiManKolt is one of the sharper tools in the shedPepsiManKolt is one of the sharper tools in the shedPepsiManKolt is one of the sharper tools in the shedPepsiManKolt is one of the sharper tools in the shedPepsiManKolt is one of the sharper tools in the shedPepsiManKolt is one of the sharper tools in the shedPepsiManKolt is one of the sharper tools in the shedPepsiManKolt is one of the sharper tools in the shedPepsiManKolt is one of the sharper tools in the shedPepsiManKolt is one of the sharper tools in the shedPepsiManKolt is one of the sharper tools in the shed
Air Force: Aerial Porter
Name: Kolt
Joined: Jan 2013, #96438
Location: Gig Harbor, WA
Age: 27
Gender: Dude
Posts: 1,663
PepsiManKolt's Tacoma Gallery
Quote:
Originally Posted by Jholden View Post
Same. I'm 21 and have bought and sold about 60 vehicles plus trailers, construction equipment ect. It's all about making your money make you money. I am now transitioning into real estate to implement the same practices.

I started out with $200 trailers and mowers when I was 14. I just closed on a house with a 129k price tag. Paid for in cash and will hopefully profit about 20k from the deal.

You can do anything you set your mind to with enough discipline.
I completely agree. I just moved into my first house 3 weeks ago. We definitely plan to flip it after a while. Most everything that I own is for sale if someone wants to pay the right price. I can always replace it when its needed again.
  Reply With Quote
Old 03-15-2013, 03:08 PM   #1210
U know fish can hear u thinking just b4 u sneeze
Skinny Rogers is one of the sharper tools in the shedSkinny Rogers is one of the sharper tools in the shedSkinny Rogers is one of the sharper tools in the shedSkinny Rogers is one of the sharper tools in the shedSkinny Rogers is one of the sharper tools in the shedSkinny Rogers is one of the sharper tools in the shedSkinny Rogers is one of the sharper tools in the shedSkinny Rogers is one of the sharper tools in the shedSkinny Rogers is one of the sharper tools in the shedSkinny Rogers is one of the sharper tools in the shedSkinny Rogers is one of the sharper tools in the shed
 
Skinny Rogers's Avatar
Name: Lance
Joined: Jan 2013, #94479
Location: NC
Age: 32
Gender: Male
Posts: 853
Skinny Rogers's Tacoma Gallery
Paid in full
  Reply With Quote
Old 03-15-2013, 03:58 PM   #1211
IKA fabrications
bullaculla is one of the sharper tools in the shedbullaculla is one of the sharper tools in the shedbullaculla is one of the sharper tools in the shedbullaculla is one of the sharper tools in the shedbullaculla is one of the sharper tools in the shedbullaculla is one of the sharper tools in the shedbullaculla is one of the sharper tools in the shedbullaculla is one of the sharper tools in the shedbullaculla is one of the sharper tools in the shedbullaculla is one of the sharper tools in the shedbullaculla is one of the sharper tools in the shed
 
bullaculla's Avatar
Joined: Oct 2012, #89002
Location: Honolulu HI
Gender: Male
Posts: 4,125
bullaculla's Tacoma Gallery
Bought both last year and paid in full



My early 20's was a different story tho.
  Reply With Quote
Old 03-15-2013, 04:19 PM   #1212
Member
mikesfarm is on a distinguished road
Joined: Jul 2011, #60725
Location: Florida
Gender: Male
Posts: 57
mikesfarm's Tacoma Gallery
No Mortgage and no payment on my 2011 4x4 . Debt free
  Reply With Quote
Old 03-15-2013, 05:06 PM   #1213
I've done... questionable things.
OZ-T is one of the sharper tools in the shedOZ-T is one of the sharper tools in the shedOZ-T is one of the sharper tools in the shedOZ-T is one of the sharper tools in the shedOZ-T is one of the sharper tools in the shedOZ-T is one of the sharper tools in the shedOZ-T is one of the sharper tools in the shedOZ-T is one of the sharper tools in the shedOZ-T is one of the sharper tools in the shedOZ-T is one of the sharper tools in the shedOZ-T is one of the sharper tools in the shed
 
OZ-T's Avatar
Name: Peter North
Joined: Dec 2009, #27584
Location: British Columbia
Gender: Dude
Posts: 8,980
OZ-T's Tacoma Gallery
Quote:
Originally Posted by Jholden View Post
Same. I'm 21 and have bought and sold about 60 vehicles plus trailers, construction equipment ect. It's all about making your money make you money. I am now transitioning into real estate to implement the same practices.

I started out with $200 trailers and mowers when I was 14. I just closed on a house with a 129k price tag. Paid for in cash and will hopefully profit about 20k from the deal.

You can do anything you set your mind to with enough discipline.
Good luck buying a house with cash here , average home price in my area is about $600K
  Reply With Quote
Old 03-15-2013, 05:06 PM   #1214
Rabid Conservative
majorhavok is one of the sharper tools in the shedmajorhavok is one of the sharper tools in the shedmajorhavok is one of the sharper tools in the shedmajorhavok is one of the sharper tools in the shedmajorhavok is one of the sharper tools in the shedmajorhavok is one of the sharper tools in the shedmajorhavok is one of the sharper tools in the shedmajorhavok is one of the sharper tools in the shedmajorhavok is one of the sharper tools in the shedmajorhavok is one of the sharper tools in the shedmajorhavok is one of the sharper tools in the shed
 
majorhavok's Avatar
Name: Mike in Cali..
Joined: Feb 2013, #96845
Location: Peoples Republic of Caulifournia
Gender: Male
Posts: 1,260
majorhavok's Tacoma Gallery
Quote:
Originally Posted by Jholden View Post
Same. I'm 21 and have bought and sold about 60 vehicles plus trailers, construction equipment ect. It's all about making your money make you money. I am now transitioning into real estate to implement the same practices.

I started out with $200 trailers and mowers when I was 14. I just closed on a house with a 129k price tag. Paid for in cash and will hopefully profit about 20k from the deal.

You can do anything you set your mind to with enough discipline.
Lucky dog.. 129k is a down payment for a house here. Ugh I hate california pricing sometimes... and the politics, and the crowds/traffic, and the pollution.. but man the jobs are great.
  Reply With Quote
Old 03-15-2013, 05:25 PM   #1215
IKA fabrications
bullaculla is one of the sharper tools in the shedbullaculla is one of the sharper tools in the shedbullaculla is one of the sharper tools in the shedbullaculla is one of the sharper tools in the shedbullaculla is one of the sharper tools in the shedbullaculla is one of the sharper tools in the shedbullaculla is one of the sharper tools in the shedbullaculla is one of the sharper tools in the shedbullaculla is one of the sharper tools in the shedbullaculla is one of the sharper tools in the shedbullaculla is one of the sharper tools in the shed
 
bullaculla's Avatar
Joined: Oct 2012, #89002
Location: Honolulu HI
Gender: Male
Posts: 4,125
bullaculla's Tacoma Gallery
Quote:
Originally Posted by OZ-T View Post
Good luck buying a house with cash here , average home price in my area is about $600K
Here too. My townhouse cost more than that. Average single family home here is about $800K. Even higher in my side of the island.
  Reply With Quote
Old 03-15-2013, 05:58 PM   #1216
Senior Member
cookee62 is on a distinguished road
Joined: Apr 2011, #54723
Location: Lake Mary, FL
Gender: Male
Posts: 131
cookee62's Tacoma Gallery
Just got mine Paid off and it was the same month my daughter was born. LOL swear I didnt plan it that way but worked out good
  Reply With Quote
Old 03-15-2013, 06:46 PM   #1217
Rabid Conservative
majorhavok is one of the sharper tools in the shedmajorhavok is one of the sharper tools in the shedmajorhavok is one of the sharper tools in the shedmajorhavok is one of the sharper tools in the shedmajorhavok is one of the sharper tools in the shedmajorhavok is one of the sharper tools in the shedmajorhavok is one of the sharper tools in the shedmajorhavok is one of the sharper tools in the shedmajorhavok is one of the sharper tools in the shedmajorhavok is one of the sharper tools in the shedmajorhavok is one of the sharper tools in the shed
 
majorhavok's Avatar
Name: Mike in Cali..
Joined: Feb 2013, #96845
Location: Peoples Republic of Caulifournia
Gender: Male
Posts: 1,260
majorhavok's Tacoma Gallery
Quote:
Originally Posted by OZ-T View Post
Good luck buying a house with cash here , average home price in my area is about $600K
Yeh, but up there in America's hat $600k is pretty cheap in snow dollars right?
  Reply With Quote
Old 03-15-2013, 06:47 PM   #1218
I've done... questionable things.
OZ-T is one of the sharper tools in the shedOZ-T is one of the sharper tools in the shedOZ-T is one of the sharper tools in the shedOZ-T is one of the sharper tools in the shedOZ-T is one of the sharper tools in the shedOZ-T is one of the sharper tools in the shedOZ-T is one of the sharper tools in the shedOZ-T is one of the sharper tools in the shedOZ-T is one of the sharper tools in the shedOZ-T is one of the sharper tools in the shedOZ-T is one of the sharper tools in the shed
 
OZ-T's Avatar
Name: Peter North
Joined: Dec 2009, #27584
Location: British Columbia
Gender: Dude
Posts: 8,980
OZ-T's Tacoma Gallery
Quote:
Originally Posted by majorhavok View Post
Yeh, but up there in America's hat $600k is pretty cheap in snow dollars right?
The dollars are essentially at par
  Reply With Quote
Old 03-15-2013, 06:50 PM   #1219
Rabid Conservative
majorhavok is one of the sharper tools in the shedmajorhavok is one of the sharper tools in the shedmajorhavok is one of the sharper tools in the shedmajorhavok is one of the sharper tools in the shedmajorhavok is one of the sharper tools in the shedmajorhavok is one of the sharper tools in the shedmajorhavok is one of the sharper tools in the shedmajorhavok is one of the sharper tools in the shedmajorhavok is one of the sharper tools in the shedmajorhavok is one of the sharper tools in the shedmajorhavok is one of the sharper tools in the shed
 
majorhavok's Avatar
Name: Mike in Cali..
Joined: Feb 2013, #96845
Location: Peoples Republic of Caulifournia
Gender: Male
Posts: 1,260
majorhavok's Tacoma Gallery
Quote:
Originally Posted by OZ-T View Post
The dollars are essentially at par
Dang.. My Canadian friends in Calgary get really tweaked with the "America's Hat" comment. They have taken to replying with saying America is "Canada's ass" lol
  Reply With Quote
Old 03-15-2013, 06:51 PM   #1220
I've done... questionable things.
OZ-T is one of the sharper tools in the shedOZ-T is one of the sharper tools in the shedOZ-T is one of the sharper tools in the shedOZ-T is one of the sharper tools in the shedOZ-T is one of the sharper tools in the shedOZ-T is one of the sharper tools in the shedOZ-T is one of the sharper tools in the shedOZ-T is one of the sharper tools in the shedOZ-T is one of the sharper tools in the shedOZ-T is one of the sharper tools in the shedOZ-T is one of the sharper tools in the shed
 
OZ-T's Avatar
Name: Peter North
Joined: Dec 2009, #27584
Location: British Columbia
Gender: Dude
Posts: 8,980
OZ-T's Tacoma Gallery
Quote:
Originally Posted by majorhavok View Post
Dang.. My Canadian friends in Calgary get really tweaked with the "America's Hat" comment. They have taken to replying with saying America is "Canadas ass" lol
Your Jedi mind tricks won't work on me .

These aren't the droids you're looking for
  Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Similar Threads
Thread Thread Starter Forum Replies Last Post
Truck is going to be paid off this month! scottri 2nd Gen. Tacomas 1 02-02-2012 05:28 PM
Truck is Finally Paid Off! eordonez General Automotive 21 11-23-2011 08:30 AM
Paid Off The Truck This Week! docbrown 2nd Gen. Tacomas 36 09-09-2011 06:04 PM
In celebration of my truck being paid off, some new pictures. Mxpatriot 2nd Gen. Tacomas 16 03-22-2011 05:53 AM
Can Toyota know how much I paid for my truck? toy_yo_yo 1st Gen. Tacomas 23 05-21-2010 03:53 AM


Copyright © 2014 Tacoma Forum. Tacoma World is not owned by, or affiliated with Toyota Motor Corporation.