Money modding or paying off the taco.

IDK, I still have coils,leafs,ucas,shocks,and tires sitting on craigslist since november....

 

I sold my tires and wheels quickly, I have everything else but won't get much for it if anything.

 

Take it from a guy who's in his 40's and swimming in debt... Pay it off. 15 years ago it started off innocently enough. I wanted to build a house. I had a car and a truck that were paid for, one credit card with a small balance, and I paid cash for a piece of land then got a construction loan. Built WAY too big a house, got married, started a family... Now I have a huge mortgage, piles of credit card debt, insane property taxes... Living the american dream right? Wrong. About to put the house on the market, downsize to a smaller house about 100k less expensive, and pay off everything. Heck even my current 05 isn't even paid off yet. Close, but not yet.

 

Thats the plan. Re enlistment looks slim as in needs of the Army with my MOS. But I do plan on staying in

You're signature is very true haha. But I'm sure some people get more satisfaction out of a cool truck then being debt free. Me on the other hand have debt anxiety.

 

Tried but no go...

 

Lol i have 1.9% on my truck But i did put almost half of the total down. so minimum payment it is! pay for mods in cash. Livin' the dream

Dude, I'd take $100, I'm bout to put it all in the dumpster.

 

HAHAHA I got $75 for my my stock suspension (albeit it had 60k hard miles on it), doesn't exactly offset a $1300 OME kit. Selling stock stuff can help with costs alittle but will never cover them. I regularly see stock trd wheels going for like $250 for a set on craigslist here. I just can't justify dropping tons of money right away into a truck the bank still owns.

 

So don't...

 

I thought about the same when I first bought the truck, but because of one thing in the past I need to show that I can make my payments on time. But I have enough money saved up to pay off the truck and be without work for at least a year, so I feel comfortable with mods.

If I was in a different situation I would just pay the truck off and not pay interest, unless it was 2% or lower

 

Crazy to dump all your money to pay off a truck when you're getting free money. I'm at about 1.5%... Worth the $500 over the 5 years to have a payment. I'm responsible with money though and won't spend it just because I have it. Some people aren't like that.

 

This thread has made me up my payments. My problem is i'm a money hoarder lol

 

I might have come across alittle strong there. By no means am I against modding a truck that isn't paid off (I'm still paying mine off and slowly modding it). I've just seen some people that put like $10k of mods into a truck they still owe $30k on and it seems alittle unwise to me. I'd rather be that much closer to owning my truck at that point but to each his own.

 

My truck was paid off before I started modding it.

Every now and then you see some sad post by someone whose situation has changed and who needs to sell his truck when he's spent a lot of money modifying it and owes as much or more than it's worth.

Don't be that guy.

 

Just because someone doesn't have their truck paid off doesn't mean they can't afford mods. The only person who knows if they can afford it is that person, if they want to mod it then awesome, if they don't then awesome, if they go into worse debt and lose their truck or have to sell it's their own fault. Everyone (mostly) is an adult here, if your on TW asking what financial decision you should be making I'd stop and check yourself before you wreck yourself

 

I would love not to have a payment from a feel good standpoint, than again, at 1.9% I have no reason to pay this truck off early. My total finance charges amount to 2.5 payments on the 60 month term.

I'll put it towards retirement or my house payment before I ever think of putting extra to this loan. 1.9% is pretty much free money, it's less than the average rate of inflation. It's much better in my account in case something comes up than against a low interest loan.

I went with the poverty spec quad cab as it fits my need and was EASILY affordable to me, the payment makes little difference to my disposable income, I can afford much more truck, the 4wd TRD Sport DCLB that I really wanted would have been doable, I just couldn't justify it(fuel and overall cost), I'm just cheap. Everyone's situation is different though.

 

I see what you're saying, and I'd never go off on some member who just proudly posted up pics of some expensive change they just made to their truck telling 'em "What are you doing? You can't afford that shit!"

But when someone opens up a thread asking for advice - well then preaching good judgment and financial restraint is fair game.

 

when I started this thread it was more to find out whats the norm not financial advice. But there is good financial advice in this thread. Being debt free except for the truck feels good and motivated me to pay it off.

Some people don't care. I had a soldier who ended up owing 50 grand on a silverado because he wanted a 2015 but was way upside down on his trade in. sad thing is that its only 2wd. So now he has one step above base model 2wd truck for 50 grand and has no choice but to pay it or have it reposed.

I asked him if this bugged him and he's happy as a clam with the truck. Maybe he's hiding it but I can't see how he's not kicking himself.

 

I throw almost all the checks from my part time job at my truck payment. Goal is to always have it worth more than I owe on it, and have it paid off in no more than 2 years.

I didn't do a lot of mods (wheels, tires, some interior comfort mods, a light bar); and I am thinking about a subtle lift. All those were / will be paid for with extra money from my part time job; the month I got new wheels, for example, I just didn't make a quadruple payment on the truck, I bought the wheels and threw the balance on the truck payment.

I sure wouldn't go into "more" debt to modify a truck.

 

if I have all of the $$$ for a truck I'd pay it off outright then mod it. Unfortunately, l like many others had to down larger anount and pay a smaller monthly payment and upgrade some of the garbage quality parts on the truck.

 

I paid mine off early and saved about 500 dollars (2.75 APR) doing so. They only thing I did while paying off the truck was upgraded the tires because they sucked that that bad. I find if there is extra money around each month I makes it easier to spend more to get what you want instead of rushing into the cheaper option.