1. Welcome to Tacoma World!

    You are currently viewing as a guest! To get full-access, you need to register for a FREE account.

    As a registered member, you’ll be able to:
    • Participate in all Tacoma discussion topics
    • Communicate privately with other Tacoma owners from around the world
    • Post your own photos in our Members Gallery
    • Access all special features of the site

How much do you owe?

Discussion in '3rd Gen. Tacomas (2016-2023)' started by JCOOR, Feb 24, 2019.

?

So how much do you owe on your truck?

  1. Zero! I’m rich bitch!

    39.1%
  2. A little

    21.1%
  3. A lot

    35.6%
  4. I’m so ass backwards it ain’t funny

    3.6%
  5. Nothing I got rid of that POS

    0.5%
  1. Mar 13, 2019 at 8:02 AM
    #301
    95tojo

    95tojo Well-Known Member

    Joined:
    Mar 21, 2008
    Member:
    #5421
    Messages:
    1,073
    Gender:
    Male
    First Name:
    Jared
    So IL
    Vehicle:
    '19 Cement Grey TRD Sport 4x4 6MT

    A little Dave Ramsey coming out there. haha :thumbsup:
     
    St1fler[QUOTED] likes this.
  2. Mar 13, 2019 at 8:06 AM
    #302
    St1fler

    St1fler Well-Known Member

    Joined:
    Dec 23, 2015
    Member:
    #172931
    Messages:
    109
    Gender:
    Male
    HAHAHA ya he does say that a lot. I really didnt follow much from him, aside from "pay the house off". I am not a fan of snowball reduction but hey if it works then so be it!

    Sorry OP {back on topic}
     
    95tojo[QUOTED] likes this.
  3. Mar 13, 2019 at 8:07 AM
    #303
    Sharpish

    Sharpish Well-Known Member

    Joined:
    Jan 4, 2016
    Member:
    #173981
    Messages:
    3,737
    Gender:
    Male
    First Name:
    Brian
    Victoria, British Columbia, Canada
    Vehicle:
    2012 Tacoma TRD OR 4x4
    Just paid mine off two weeks ago Thursday!

    2012 OR lease return I picked up in 2015 with 35k miles. I got a 72 month loan to preserve my cash for an apartment down payment, and good thing too because I was fishing pennies out of the couch to reach 20%.

    Paid it off in 39 months and does it ever feel good! A little more breathing room.

    But .... now that's it's paid I've been curious about the 2020 Army Green Pro ...‍♂️
     
    St1fler likes this.
  4. Mar 13, 2019 at 8:09 AM
    #304
    JCOOR

    JCOOR [OP] Well-Known Member

    Joined:
    Dec 4, 2018
    Member:
    #274834
    Messages:
    4,121
    Vehicle:
    TRD Burglar
    Certainly don’t apologize to me. I derail shit all the time
     
    95tojo likes this.
  5. Mar 13, 2019 at 8:35 AM
    #305
    Inferno!

    Inferno! Well-Known Member

    Joined:
    Nov 7, 2018
    Member:
    #271952
    Messages:
    1,598
    Gender:
    Male
    El Dorado Hills
    Vehicle:
    2018 TRD OR Inferno 285/65/17
    Supercharger, sway bars, lift, leather, tires, Gobi, etc.
    If you paid mortgage interest last year on our house, then you didn't pay cash for your house. You financed it and paid it off, like the vast majority of people. Not judging, I was just wondering why anyone (that isn't dripping with money) would pay cash for a house, it doesn't make financial sense. On the other hand, financing the house and paying it off does. That is where I am headed too. :)

     
    VinDieselJetta likes this.
  6. Mar 13, 2019 at 8:41 AM
    #306
    JCOOR

    JCOOR [OP] Well-Known Member

    Joined:
    Dec 4, 2018
    Member:
    #274834
    Messages:
    4,121
    Vehicle:
    TRD Burglar
    I am far from dripping from money but I did pay cash for my home and it made perfect sense in my situation. Why wouldn’t you want no mortgage?
     
    St1fler and Dkurtz42 like this.
  7. Mar 13, 2019 at 8:52 AM
    #307
    Inferno!

    Inferno! Well-Known Member

    Joined:
    Nov 7, 2018
    Member:
    #271952
    Messages:
    1,598
    Gender:
    Male
    El Dorado Hills
    Vehicle:
    2018 TRD OR Inferno 285/65/17
    Supercharger, sway bars, lift, leather, tires, Gobi, etc.
    Because you have to pay your housing expenses prior to paying cash for a house. So, it doesn't make sense to pay rent while saving $400-500k in cash to purchase while the home your wanting to buy is inflating in value. When you count mortgage interest tax write off, it can be in many cases less expensive to have a mortgage than rent a home. I.E., the last house I rented was $2,350 a month and my current mortgage is $2,500 a month (mortgage, taxes and insurance). With mortgage tax right off, it is less expensive for me to have a mortgage than to rent. Therefore it is easier to pay off the home having bought it with a mortgage than save cash to buy the home while renting. Not to mention the steep value that my house has gone up, would have missed that if I stayed renting to save cash.

    If you buy a house with someone else's money, then yeah I would pay cash for sure.

     
    beriman10 likes this.
  8. Mar 13, 2019 at 9:01 AM
    #308
    JCOOR

    JCOOR [OP] Well-Known Member

    Joined:
    Dec 4, 2018
    Member:
    #274834
    Messages:
    4,121
    Vehicle:
    TRD Burglar
    I did things a bit different but yes I agree paying cash doesn’t work for everyone. We made great sacrifice to be mortgage free and I have zero regrets
     
  9. Mar 13, 2019 at 9:04 AM
    #309
    cstern1

    cstern1 Well-Known Member

    Joined:
    May 2, 2018
    Member:
    #252343
    Messages:
    534
    Gender:
    Male
    First Name:
    Caleb
    KCK
    Vehicle:
    2017 DCSB Sport
    Did I see someone say $23k in mortgage interest last year? You must be talking a total payment well over $3k per month. Different leagues.
     
    Dkurtz42 and JCOOR[OP] like this.
  10. Mar 13, 2019 at 9:06 AM
    #310
    JCOOR

    JCOOR [OP] Well-Known Member

    Joined:
    Dec 4, 2018
    Member:
    #274834
    Messages:
    4,121
    Vehicle:
    TRD Burglar
    If I could afford that I sure as held wouldn’t have bought a Tacoma
     
  11. Mar 13, 2019 at 9:09 AM
    #311
    cstern1

    cstern1 Well-Known Member

    Joined:
    May 2, 2018
    Member:
    #252343
    Messages:
    534
    Gender:
    Male
    First Name:
    Caleb
    KCK
    Vehicle:
    2017 DCSB Sport
    I don't even pay that much in a year in mortgage + escrow and the Tacoma
     
  12. Mar 13, 2019 at 9:10 AM
    #312
    Inferno!

    Inferno! Well-Known Member

    Joined:
    Nov 7, 2018
    Member:
    #271952
    Messages:
    1,598
    Gender:
    Male
    El Dorado Hills
    Vehicle:
    2018 TRD OR Inferno 285/65/17
    Supercharger, sway bars, lift, leather, tires, Gobi, etc.
    That is great for you! I realize I might not have answered your question directly. Yes, I would prefer no mortgage! It's a path to get there. I was financially wiped out to zero about 7 years ago, sold everything including my house. Only purchased a home again about 2.5 years ago. If we buckled down, we could probably pay off the home is 3-4 years. And that is our basic plan. Strange things happen however along the way. Stage 4 cancer popped up and the doc's say I'm on the way out, so things like buying a new Tacoma, 5 trips to Hawaii in 4 years, trip to France, Israel and heading to Italy in September have taken much of my "house pay off" money. :)

     
  13. Mar 13, 2019 at 9:19 AM
    #313
    Inferno!

    Inferno! Well-Known Member

    Joined:
    Nov 7, 2018
    Member:
    #271952
    Messages:
    1,598
    Gender:
    Male
    El Dorado Hills
    Vehicle:
    2018 TRD OR Inferno 285/65/17
    Supercharger, sway bars, lift, leather, tires, Gobi, etc.
    How is it that you can pay cash for a house and owe money on your vehicles? Why not pay cash for your Tacoma and 4Runner like you did your house?

    Us self reliance folks need to know. :D

     
  14. Mar 13, 2019 at 9:22 AM
    #314
    RocTaco

    RocTaco Free stun!

    Joined:
    Nov 12, 2016
    Member:
    #202199
    Messages:
    2,039
    First Name:
    Pete
    Green Mtns
    Vehicle:
    03' Reg. Cab 4x4 5MT
    Right? You can add in gas and insurance, and a couple other things before I hit that much lol.
     
  15. Mar 13, 2019 at 9:24 AM
    #315
    TacoBella

    TacoBella Well-Known Member

    Joined:
    Sep 30, 2011
    Member:
    #64421
    Messages:
    2,910
    First Name:
    Tom
    Vehicle:
    2016 Tacoma (SOLD) leased RTL-E Ridgeline
    AVS Bug Deflector. TruXedo Lo Pro
    We are debt free so we lease a CRV and I will be leasing a Ranger or Tacoma 2020 model. We never buy any vehicle that we cannot afford to pay off in 36 months. We will be buying out the Honda Lease because it will be thousands under the retail cost of a similar model.

    Usually, pay cash on my side of the garage but lately, the money has been doing well invested so I am not as inclined to pay cash. Especially if the Rate is less than 2%

    The only annual fixed expense we have are Insurances. I will see how investments are doing after the Summer when I plan to buy. As well any low-interest Incentives that may or may not be available
     
    Last edited: Mar 13, 2019
  16. Mar 13, 2019 at 9:25 AM
    #316
    cstern1

    cstern1 Well-Known Member

    Joined:
    May 2, 2018
    Member:
    #252343
    Messages:
    534
    Gender:
    Male
    First Name:
    Caleb
    KCK
    Vehicle:
    2017 DCSB Sport
    I only need about $39K to pay for everything for the year. That even includes some crap I don't need. I could probably survive for $33K after taxes.
     
  17. Mar 13, 2019 at 10:05 AM
    #317
    Dkurtz42

    Dkurtz42 Bill Hwang

    Joined:
    Aug 31, 2018
    Member:
    #264772
    Messages:
    1,409
    Gender:
    Male
    First Name:
    David
    Barberton, OH
    Vehicle:
    2023 Tacoma DCLB TRD SPORT 4x4
    - Gator ETX Soft Roll Up Tonneau - Clazzio black leather seats - Nitto Ridge Grappler 255 80 17 tires - Supreme Suspensions 2" and 1" lift
    Financial threads are my favorite.
     
    Hobbs, VinDieselJetta and StayinStock like this.
  18. Mar 13, 2019 at 10:29 AM
    #318
    Bullnettles

    Bullnettles Well-Known Member

    Joined:
    Mar 9, 2017
    Member:
    #212761
    Messages:
    727
    Gender:
    Male
    First Name:
    Jared
    Houston
    Vehicle:
    2017 OR DCSB
    Mine was a bit different. I had extra to put towards the down payment and did an amortization schedule of that money @ 8.5% vs knocking back the DP more on a loan @ 4.5%. At 60, then calculating loss on interest (which you then write off). Made more sense for me to keep the nest egg and sell the house if true terrible times come. No worries on brags, I think we all do things we're proud of and paying off a house is something you DEFINITELY should be proud of. Playing the interest battling game gives me hives, but the math checks out and I'm trying not to follow emotion on it. It's tough, though. I get anxiety from it. 2.5 more years of this...
     
    St1fler[QUOTED] likes this.
  19. Mar 13, 2019 at 10:30 AM
    #319
    PreCummerTRD

    PreCummerTRD Member

    Joined:
    Mar 1, 2019
    Member:
    #284904
    Messages:
    13
    Gender:
    Male
    First Name:
    Mike
    Vehicle:
    2001 Grey Tacoma TRD
    $0.00 but if anyone wants the Volvo s40 I still owe on now that I finally graduated to my 01 TRD hit me up :fingerscrossed:
     
    King Kermit V likes this.
  20. Mar 13, 2019 at 12:01 PM
    #320
    TacoBella

    TacoBella Well-Known Member

    Joined:
    Sep 30, 2011
    Member:
    #64421
    Messages:
    2,910
    First Name:
    Tom
    Vehicle:
    2016 Tacoma (SOLD) leased RTL-E Ridgeline
    AVS Bug Deflector. TruXedo Lo Pro
    We paid cash for our home and it's like getting a raise of 1200 a month tax-free. There are a few instances where one should not pay cash . I lease the wife's vehicles and pay cash for mine IF the interest rate is less than 2%-3% I HATE paying interest and in fact avoid it at all costs if it supersedes investment returns.

    Over the past few years, it has been good to have investment money and 1% rates on 36-month loans. Whether you pay cash or not the truck has a monthly readjustment in value. Even if one has the pink slip from day one a vehicle is STILL costing xx dollars a month in depreciation.

    There are a few instances where it is not smart to pay cash, IMHO debt-free living is the best way to go. When possible. Use cheap zero percent money.

    One can ALWAYS get a mortgage and or a loan on vehicles if the money is needed otherwise. When one pays cash , one has lots of options.
     

Products Discussed in

To Top