Did you do extra payments. Who finally owns their Tacoma?

Pretty much every vehicle I’ve bought I’ve always tried to pay off early by adding a little extra to the payments when I could. It helps your credit and saves you money in the long run. Not really any downside unless you are severely strapped and can barely afford the payments in which case you probably overextended and shouldn’t have bought it in the first place.

 

Great minds think alike apparently...

 

Good friend of mine works in sales (high volume Toyota dealer), you won't believe how many people have $1000+ a month payments...

 

It’s all relative depending on your income vs. expenditures. I think that’s a crazy payment to be making but to others that could be chump change...

 

Agreed, but here in Tucson and someone buying a Toyota, I would be suspect of being a high income earner...

 

I agree...

 

I paid cash for mine! My wife was denied on an insurance plan that was going to cost $35K so she said “well I guess you can get the Taco”

 

I pay everything off early, then again I've never been offered a great interest rate.
I sold two vehicles to get my SR, so it was a easy payoff.

 

Yea I know some people who have 8-900 dollar payments with extremely ridiculous interest rates. NFCU has me at 2.9 APR. not bad imo. paying early lowers your debt to income ratio faster. A lot of pluses.

 

Thank you for looking out for your airmen. Thank you for your service! I’ve had my fair share of great leadership. Great memories

 

Separating E6 with 10 yrs in (start terminal this week), seen and dealt with as well with some of my airman over the years. Just had one finance a $10k elective surgery (E3)...

 

You're a good man to go to the point of going with your airman and making sure they returned the vehicle.

Yeah I don't think it matters the age or income level and have seen some people not being financially literate/savvy across the board of different ages and income levels.

 

I assumed you had the standard infantry special at 18.9%.

 

Imagine if everyone had to take a 1/2 semester class, senior year of high school, just simple at home exercises e.g. entering salary/car loan/home mortgage numbers into an online interest and payoff calculator

 

I'm at 1.9% for 72 months. My trade in only got me $2,750 since it was so old. I'm used to maintaining paid for cars, but eventually that paid off financially. I have no idea why I was driving around with the risk of breaking down and having to fix shit. Turned into a way of life that I forgot I was doing for a reason. Could have paid cash for the truck, but earning more interest in the bank than I'm paying on the truck.

I was making extra payments every paycheck, but by doing them electronically, they were not hitting principal only. I've been tracking it for over a year and I'm only $21 ahead on what the total interest will be over the life of the loan, which is $1900ish. So now I'm doing the arduous task of mailing a damn check to Toyota Financial in Ioaw saying "principal only."

It really does seem its not so bad after the first Tacoma is paid off. Say I keep it 10 years and trade in, I should get like $13k to 15k on trade maybe. Who knows. But I won't have to finance as much on the next one.

 

Imagine if everyone had to learn to use personal finance software. Economy would crash because people would quit buying so much pointless shit . But seriously using it has fixed me right up.

 

I’m already retired. Was lucky enough to do it a relatively young age. Still in good shape and still more than able to do things I want to do. That’s why I needed a capable truck. If I was old and worn and really couldn’t go anywhere I would’ve just kept the Tundra.

 

I wouldnt sweat it bud, these trucks hold their resale so well, its easier to unfudge yourself / negative equity / etc. As you alluded to they just hold their value, even after a decade.

 

What do you use. I was using MINT for awhile and it just got so obnoxious, just sticking to my excel budget right now but would really like something that was a bit better breaking down where all my purchases / money goes.

 

According to resale/trade in values I have positive equity now. I just really hate paying interest.