How in debt are you with your Tacoma?

yeah I'm not full blown either.... I find some of the threads entertaining, not in the TW kinda way.
Definitely have curbed my discretionary spending, manage my money much differently.
My stuff doesn't own me anymore & yes cut the fat out of my budget.
Cool to meet another mustachian

 

$0

 

7 to 10% is great but all you really need is to have an investment that pays a higher interest than your loan and some cash to invest.

 

All this investment talk...

I am all about investing, but I hate debt. Only debt I would like to have is the house. Even with 1.9 APR I'd rather pay my truck off quick and start taking home more money each paycheck. To each their own, I'd just rather invest when theres no payments to be made.

 

There is one thing missing in your tactic....time. Compounding interest and dollar cost averaging are some of the important parts of investing. For example....when shit hit the fan in 09 I continued to buy and I lost some money on paper but I was able to buy more shares for the same dollar investment. In the end I tripled my money. Oh yeah I would also like to thank Obama for my 3 year 25% average on my Healthcare funds.

 

Should have titled the thread how much positive equity do you have?

 

I would like to see the correlation between finance amount to years of ownership. And also a tally of financed vs cash purchase. These two would show us a much clearer picture of the poll above.

 

Tacoma is gone as I had to get more commuter friendly set of wheels. Good news for everyone here: 3 years and 36k later, I lost only 3k on the trade-in from the brand ne purchase price....unbelievable how these things hold their value. One thing for sure, I'll be getting one again...already miss the truck

 

20k...I could pay it down quicker, but it's a real low interest rate and I'm saving for a house.

 

$0. Paid cash for it in 2010. TRD Sport DCSB

 

Loans are for suckers. Pay cash or you can't afford it. Simple concept more Americans could benefit from.

 

Loans can be a valuable tool for building credit. Not to mention the opportunity cost related to a loan. If you get a low interest rate (<5%) you can invest that money in any investment vehicle and see returns greater than the interest of the loan (easily). This requires you to be more flexible as your investments are liquid but pulling them out at the wrong time could be detrimental to the profit gained.

The problem with loans is when people can't make payments or take on too much interest rate (credit cards, shady dealers, etc).

 

well.... I owe $16k on my truck.... I have a few thousand in mods.... so all in, maybe $20k

but I could probably sell my truck for $22-$23k...

so does that mean I'm +$2k-$3k?

 

$0, Paid off my 2013 DC TRD Sport before I retired.

 

I voted 0 but I paid the damn thing off twice now!

1st time was the original loan of 24k
2nd time was using it for collateral for a 20k loan for IVF - Totally worth it!

Now I have a little garage helper too!

 

Congrats, what a great post!

 

Thank you!

And THANK YOU FOR YOUR SERVICE!!!!

 

No, it means you're $16,000 in debt assuming the mods are paid for. If you sell the truck and get 22k for it then you're ahead 6k but no truck to drive.

 

I see your point... But I think it's a matter of opinion.

I owe money on my house, but could sell it for more than I owe...

debt to me, is something that you cant "get rid of for what you owe on it" in my opinion, anything that is a positive asset I dont consider debt.