Anyone who bought their truck with cash?

I'm getting my USAA career starter loan ($25k) this summer, and I'm trying to pick up a base model prerunner for as cheap as I can get (either double or access cab, though double is way more common configuration where I live with the prerunner trucks). Has anyone bought one of these for around $20k before (that's my goal price, though I know it's pretty lofty)? What other advice/bits of info do ya'll have? Thanks ya'll......

 

what year? That would determine price swings too.

 

I'm trying to get a new truck if I can....so a 2015....

 

I've never bought with cash so I can't say what kind of deal they will give you. But I have a friend who works the finance dept at a Dodge Dealership and they actually (I should say He actually) gives better deals when the person takes out a loan through Dodge Credit. I don't have any facts or anything. But it might be good to see what kind of deal Toyota can give you through their finance dept and then just pay the loan off when you get your first bill. He says people come in all the time trying to low ball offers on new Dodge Rams saying they'll pay cash today. And the salesmen and Sales Manager just laugh, behind closed doors of course.

Not sure if this helps with your question but good luck man. Either way you'll have a truck paid off and no payments.

 

I bought my first Tacoma with cash in 2007. I was in my early 20s; the guy in the finance office was German and was a step away from yelling at me for doing it. I just didn't want to owe money; I didn't even look at the options.

Just this past February I traded in my 2007 and picked up a 2015 TRD Off-Road. The lowest rate I could get from them was like 2.6% or something along those lines. Between the trade and a random down payment, I was going to owe them $12k which I financed. But when it came down to make the first payment, I just paid it off. Once again, I just didn't want to deal with making payments.

What's the purpose of a USAA "Career Starter" loan? Doesn't sound like it's for buying a Tacoma unless you're using it for business purposes.

 

Interest rate on those loans from USAA are 2.9% you may be able to do better financing through Toyota!

One thing to look at is if you have the cash in hand, and you score a super low interest rate. Why not make payments instead of bombing your savings account? I prefer to have money in hand.

We just had a new furnace and AC unit put in the house. It was 8700 dollars. Had the cash in hand to pay for it, but the place was offering 1.9% financing on it for 60 months. Heck I'll let them pay for it, and I'll just pay them a double payment each month. In the end I still have 8700 dollars in the bank, and Paying a double payment every month with some triples thrown in and I will have hardly paid any interest.

 

I know you said you want a 2015, but why not buy an older model and get better features? I got my '06 last year at the end of June for 16k with 142,000km, I think that's about 90,000 miles and my truck's a trd sport double cab long bed. Just saying, you don't have to go that old but I mean you can get a truck with better features for the same price by sacrificing mileage.

 

I was very fortunate to pay cash for my 2012!I made the right decisions in saving money throughout my life to make this happen.And I'm very !

 

I enjoy motorcycles and guns too much to be able to have $27k laying around to pay cash for a truck.

First world problems

 

I picked up my 07 with 53,000 for 21K and I payed cash for it. its a double cab 4x4

 

I paid 24.4k for my DCSB Prerunner SR5 2.7 auto, so 20k is pretty unrealistic outside of 5 lug base models.

 

Picked up my 2010 in 2013 doublecab short bed 22 and some change on the mileage. Paid 17.5 otd

 

As someone else mentioned, dealers now adays give better deals to finance customers than cash customers in many cases. The dealership gets a kickback from the financing arm of the company if they finance a vehicle, which is extra money the dealership has to play with in the deal. I wouldn't even mention the cash purchase to the dealer and see what sort of price they come up with. Then pay cash if you want, but as others have said I'd also consider using that loan to actually start a career rather than drive a nice new truck.

 

If I can't put cash on the table for any thing I need it doesn't get bought.

 

@extremachn1
tell your story on how to score a free supercharger.....

 

Permarenter or trust fund kid?

 

You are still technically financing it, Only benefit of using this loan would be that they can't repo the truck if you don't make a payment/s (seeing that it isn't an auto loan).

If I had 25k cash in hand, I would still finance. Rates are low and the money would be good for an emergency, rather than it tied up in a truck.

 

I was going to pay cash for mine but took out a loan at 2.25% with my CU. I put $10K down and will pay off loan in 12 payments, last one is in June. I did it for my credit history. I'm 53 and retired so I wanted some credit activity. Paying cash does nothing for your FICO score. If your young and have the cash you should finance for that reason alone. Pay it off early but at least build some history.

 

No, I only put $5k down on mine. Even used, interest was not so bad. Took a long term for peace of mind that I can pay less if I need to, but I always pay well over the monthly amount.

This will be the last auto loan I have. I will keep this truck until it is paid for and I have the extra cash built up to trade/sell it and comfortably buy a new one. Probably be looking at about a 2019 or 2020, so about halfway through the 3rd gens!

 

Traded in my (paid) Jeep and paid the rest cash, but if you get 0% APR it doesn't really matter and is actually better to finance and invest the money elsewhere.
I just don't like owing money and making payments that's all