Is your Truck paid off?

Made it to post #7 before a sensible answer. I financed 100%. It's cheap money. I'll leave my investments in the stock market, thank you. Even a low risk Vanguard index fund is getting me 7-8% back in the last few years. Why would I take money out of that to pay off a debt costing me almost nothing?

 

When I purchased my 2015 Certified Tacoma DC TRD I paid for it in cash, actually a wire transfer since it was in AZ and I'm in NC. She is due to arrive here in NC this weekend, plenty of parts ordered ready to be installed.

 

Must be nearing the end of the year. Everyone's talking about retirement haha

 

Maybe true. I'm at 19% on the year.

There is always a better way of making money, the reality is most people don't, otherwise we would all be rich and retired already.

If I took the advice of everyone who offered it. I'd be broke.

 

Don't forget that when you finance you have to carry comprehensive insurance...

 

26.5k down. Owe around 7200. 177 a month but paying double.

 

i paid cash, but still carry comprehensive insurance. if i total it tomorrow, i sure as hell don't to pay for a new one totally

 

So you're suggesting those with no lender required insurance carry only liability? Seems like a bad plan to me.

 

i fact, company vehicle on construction jobs, i have to carry a million dollar liability.

 

I financed mine because I quit my old full-time career that would have let me pay for it and now I teach part time by choice. Besides the main fringe benefits of being a teacher, I also get to have long holidays and early afternoons off to play with mods and go driving to more places in the desert off-road now!

 

I can easily pay cash for any vehicle I want. I'd rather finance it for 3 years and dump the rest into my IRA and earn more while the APR is hardly anything.

 

I was poor when I purchased my truck, still poor cause I’m making payments, and now filling bankruptcy due to TW build threads and “for sale” threads. OP hope you feel better

 

I wanted to buy a 4cyl with a 5MT brand new before they discontinued it so I financed. NO REGERTS

 

Bought a $36K truck after trade I owed $15.5K and financed at 1.9% for 60. The difference for our family v.s. others that finance, is we will over pay our monthly by a $100 each month and this thing will be paid off in 2 years , maybe a smidge more.

 

So here's da sauce that counts. It usually has more...you caught me on a Tuesday

 

I have a philosophical issue with debt. Debt is bad. There were reasons usury was a sin in early christian societies. Bonds were created as a way to pay/charge interest without having to pay or charge interest. Read about sharia mortgages on your own. Regardless, I paid off the house several years ago, and bought the truck with cash. Retiring debt free in about 40 days.

 

I think the bigger question here is, out of the 57 people that voted "Cold Hard Cash Baby!" How many lied about it...

 

That’s nice dear

 

Why would you not have comprehensive on a new vehicle?

 

If you are trying to cut corners