What is your monthly payment? Please read.

It was 30k sticker price. After tax, registration, extended warranty, life time oil change, and me eating 7 grand from my trade in, it was about 43k. Sorry I wasnt clear on my previous post.

 

Well you and your father are smart guys. Thank you sir.

 

I haven't read through the entire thread, so perhaps someone already mentioned this... but take the GF out of the picture. At 22 it's crazy to plan finances on her income. You could lose interest in her. She could lose interest in you. One big emotional fight could end it all. One of you could get a job opportunity on the other side of the country. She could get pregnant. You might get engaged. Whatever. Budget expecting the worst... that you have to cover your own rent, your own utilities, your own food, your own savings, and THEN your own truck payment.

 

Here is my car history FWIW
1988 Jeep Wrangler YJ - $3200 (Used)
1989 Audi 80 - $3000 (Used)
1997 Ford F-250 - $6000 (Used)
2005 Ford Explorer - $8000 (Used)
2008 Ford Focus - $16,000 (New)
2015 Toyota Corolla - $20,000 (New)
2017 Toyota Tacoma - $37,000 (new)

 

I'm 25. My payment is $280 a month over 42 months. I financed just over $14k for my truck. I'm on my own too, but living alone, and everything is in my name. I am super fortunate to have an awesome job which pays for my truck and apartment and everything else.

 

If you are asking on a forum about payments, you probably already know your answer. I'm sure you can make the payment with your income, the matter is, are you willing to sacrifice elsewhere (fun, food, dates, investing) to drive a new Tacoma? I know a lot of car guys that have awesome cars, and not much else; it's all your preference.

 

It's funny how the golden phrase dads like to use of "You'll understand when you're older" comes to mind right now. I wouldn't have imagined giving financial advice to a teenager over the internet and I'm not even 30 yet and agreeing with a lot of older folks here, too.

 

To everyone else here remember it is easier to sit and give advice than it is to take it. Especially when you're sitting behind the keyboard with a shiny new truck in your driveway.

 

I just wanted to thank everyone for great advice. Great people that are willing to help a young guy out.

 

150 lol

 

There's a fine line between old fart and whipper-snapper. Pull up a rocker.

 

I'm 33 and boy was I wrong in my 20's I wish I would of listened to my pops. A divorce after 8 years didn't help the situation either. Just be smart and dont get caught up in this fast paced world.

 

do you need your prune juice with your rocker?

 

Fast paced world.. exactly. Thank you sir

 

You've probably already heard this somewhere on the thread, I didn't read every post, but it's what happened to me almost so I'll emphasize it. Don't rely on your partners income just to make a payment. It's one thing if someone loses income for a few weeks or months and you have to eat Kraft dinner and savings just to get by. It's another if you're missing payments. Think of what will happen if you split too. I know it probably seems like she's your forever because she's living with you but people change a lot when they are young. If she takes off can you afford an apartment and a new truck payment? Probably not.

 

Very true, thank you. Great points

 

Got mine right here...I'll pour you a glass for you to sip from yours. Welcome to adulthood. Your knees are about to go to hell.

 

My 2 cents: if you are having to add up your rent, calculating splitting bills, etc. I would advise against purchasing a brand new truck. Like most great advice, stock that money up in a savings account for your future home. There's nothing worse than seeing a brand new BMW, Audi, or any brand new car parked outside in an apartment building because they don't have enough money to purchase a home.

Also, with interest rates so low right now, I don't see any need to put more than a few grand down on a car. If you can invest your money another way (401k, bonds, stock market, rental property), you will most likely see returns greater than 5% down the road--

Again, just an opinion from a 28 year old.

 

My back already starts hurting when I get out of bed.

 

If you are good with excel, put down all your monthly expenses (all of them, bills, food, gas, movie tickets, whatever) in columns and add them up. Subtract all monthly expenses from your monthly pay and see what you have left over.