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Anyone who bought their truck with cash?

Discussion in '2nd Gen. Tacomas (2005-2015)' started by Knightfall, May 7, 2015.

  1. May 8, 2015 at 4:25 AM
    #81
    Chris(NJ)

    Chris(NJ) Well-Known Member

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    I bought my truck with cash. I just chose to take 60 months to give it all to them.
     
  2. May 8, 2015 at 4:25 AM
    #82
    jbrnigan

    jbrnigan Well-Known Member

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    Most dealers will absolutely deal in cash. Just remember, any transaction involving more than 10 grand cash, must be reported to the IRS. Dealers have these forms and use them more frequently than you might imagine.
     
  3. May 8, 2015 at 6:24 AM
    #83
    Flowin

    Flowin Well-Known Member

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    I think that's what everyone means when they say "cash" = no payments.
     
  4. May 8, 2015 at 6:45 AM
    #84
    dexterdog

    dexterdog My pee parts itch

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    It's sad that I have reached the age where when I read something like this my eyes light up and I start dreaming what it would be like to retire ten years from now. Where is a winning lottery ticket when you need one.
     
  5. May 8, 2015 at 7:00 AM
    #85
    Flowin

    Flowin Well-Known Member

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    The younger you are when setting a retirement goal, the easier it is to achieve it.
     
  6. May 8, 2015 at 8:12 AM
    #86
    Mr Salty

    Mr Salty "Give up the good to go for the great"

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    This to me has always put me ahead of others, shoot some who even make twice my income. Anymore it seems everyone (at least those I'm surrounded by) lives beyond their means and often bitch about the money they don't have.
     
    Jarlaxle likes this.
  7. May 8, 2015 at 8:16 AM
    #87
    Sterdog

    Sterdog Offline

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    Yup, I've had to dig myself out of a few holes financially because of divorce or a poor choice. If I could go back things would be different, but I can't so I just make sure to keep on my financial plan. I'll be divorce debt free in 2 years and my truck will be paid off in the next year. After that all I will have for debt is my mortgage.
     
  8. May 8, 2015 at 8:18 AM
    #88
    OZ-T

    OZ-T I hate my neighbour

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    Did you buy a house with cash too ?

    Didn't get an answer previously
     
  9. May 8, 2015 at 8:48 AM
    #89
    bucktales

    bucktales *Retired* curmudgeon

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    Matter of fact, yes.
     
  10. May 8, 2015 at 9:55 AM
    #90
    mAtTyG04

    mAtTyG04 Well-Known Member

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    I did. 42k last spring.
     
  11. May 8, 2015 at 12:30 PM
    #91
    azreb

    azreb Geezer

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    I had a mortgage for about 6 years. I paid off my last car loan before getting married. I built a house, paying for it as I went. Paid cash for this one. Use a credit card but pay it in full monthly.
    It is pretty much necessary to start out using credit in this economy, but I feel it is wise to get out of that mode as quickly as possible. If one lives within his means and is willing to sacrifice in the short term he/she will be much better off in the long run.
     
  12. May 8, 2015 at 12:38 PM
    #92
    OZ-T

    OZ-T I hate my neighbour

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    Awesome

    Average home cost in Canada is over $400K
     
  13. May 8, 2015 at 12:46 PM
    #93
    bucktales

    bucktales *Retired* curmudgeon

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    About the same and/or much higher in USD in this part of Ct.
     
  14. May 8, 2015 at 1:00 PM
    #94
    OZ-T

    OZ-T I hate my neighbour

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    OME 885x , OME shocks and Dakars , Wheelers SuperBumps front and rear , 275/70/17 Hankook ATm , OEM bed mat , Weathertech digifit floor liners , Weathertech in-channel vents , headache rack , Leer 100RCC commercial canopy , TRD bedside decals removed , Devil Horns by Andres , HomerTaco Satoshi
    Same in my area , higher than the average
     
  15. May 8, 2015 at 1:31 PM
    #95
    TacomaMike37

    TacomaMike37 Well-Known Member

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    Got a 1.2% rate on my loan. Why put 30K+ into a truck when I get what is practically an interest free loan and hold onto my cash.

    Same with a mortgage. 3.25 rate for a 20yr. With the tax writeoff the rate drops to 2.6%. At least for me, doesn't make much sense to pay off the mortgage for two reasons 1)when the real return is actually a loss after you count inflation, 2) talk about an illiquid asset, nothing is more illiquid then a home.
     
  16. May 8, 2015 at 2:33 PM
    #96
    File IFR

    File IFR "... Intercepting The Localizer"

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    Paying off early like that does little to no good as far as your goal to build credit. Credit card companies actually don't like to be paid off early because they make no money on you from the loss of interest.

    The best thing for you to do is buy something, pay more than the monthly payment and you'll be all set credit-wise.... not necessarily everybody needs to do this, but you should early in the game of life. ;)
     
  17. May 8, 2015 at 2:39 PM
    #97
    jbrnigan

    jbrnigan Well-Known Member

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    If you had 30K liquid cash, instead of paying a 3rd party even a paltry 1.2%, you could be paying yourself the interest, since you're making a monthly payment anyway. If you have the discipline to pay yourself. I have made very nice returns on real property over the years. Real property (residential property) can be very liquid if you buy right! The real estate meltdown in "08" created huge opportunities for even casual investors with cash - another reason not to be saddled with a mortgage obligation. Pay off the mortgage but keep saving the payment, in anticipation of opportunities that those mired in debt can't take advantage of.
     
  18. May 8, 2015 at 2:52 PM
    #98
    Sterdog

    Sterdog Offline

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    You also missed the liquidity in the asset as a borrowing tool. I'm referring to liquidity in this case as the ability to pay your bills. If you have a large equity in your home already, like I do, you always have the option of using low rate credit from your home in case of extreme emergency. In most cases such loans through the bank that holds the mortgage are quick and painless while carrying a very low rate of interest. You don't want to borrow against your home to buy something like a car or other wasteful asset, but if you were to need $20K in a pinch to get through a divorce, it's a very easy way to come up with the money and a manageable payment.
     
    TacomaMike37 likes this.
  19. May 8, 2015 at 4:37 PM
    #99
    Knightfall

    Knightfall [OP] Active Member

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    So, in an attempt to kinda get my thread back to directly helping me....how cheap can I get a Prerunner?No options, or anything fancy....another more educated inventory search pulled up that in my region, you can in fact get an access cab prerunner for an msrp of 23-24k. Do you think I could get this down for around 20k?
     
  20. May 8, 2015 at 4:39 PM
    #100
    RKCRUZA

    RKCRUZA Well-Known Member

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    Short of my house (which is now paid off) I'm the same way...pay cash for everything. You might get a better deal by not telling the dealer you are paying cash. Let them talk their talk and such and when it gets down to doing the paper work simply tell them you have decided to pay cash. Once they have given you a price it is pretty awkward for them to say...we can only give you that price if you finance" and most will simply take your money.
     

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