GA Tacoma Owners BS Thread

Debt should only be scary if you don't think you are responsible enough to handle it. The fed fund rate has dropped so the interest you will earn on your money has also dropped. Lending rates have lagged and have not dropped as much. You are buying a used vehicle, so the lower the term or life of the loan the lower the rate will be. It will be unlikely you will be able to find a risk free investment vessel to offset what interest you will pay on a vehicle loan but for the sake of off setting it some, put the money in a high yield savings like amex or another online one that yields 1.75% right now. If you were to have A+ credit on a short 36 month loan on a 2017 vehicle you would be getting a 3.05% with my Credit Union. So effectively paying a rate of 1.3% in interest. Do this for a year to est auto loan history, build credit. If the market recovers the yield on the savings account increases also.

 

Anyone feel like schooling on investments? I'm 31, I've got my truck almost paid off, 2 years into mortgage and everything is looking good, and got a decent chunk in the bank, but that's as far as I've made it. I work for a small company so no 401k, no stocks, no tenure, etc. Kinda not sure what to do with my savings to benefit me other than what they're doing right now... sitting in a savings account earning about $0.50 per month in interest. PM is fine, I could really use some guidance.

 

Quick and easy.. Some money into a high yield savings preferably one that gives you a bonus for startingan account. And start putting money in a 401k or IRA now. It'll add up quickly.

 

Something simple is to fist move it to a high yield savings account like mentioned above. That will allow it to earn while you decide how much you want to keep there and how much you want to invest. Most suggest 6months of earnings to keep in a savings account. I'm paranoid so I keep more. The rest is in various CD's. 3 fund portfolio at vanguard. S&P 500. (so more like a 4 fund portfolio but the S&P is more redundant in my case) If you are wanting to simple, the Warren Buffet school of thought is to invest in the S&P 500 index. It's less yield but less risk. Or just find a target retirement age index fund and let your money ride. You're still young enough to ride out ups and downs. Also open a Roth IRA and max that out each year. If you can open a health savings account, do so also. That will earn and allow you to pay for your health cost with pre taxed money. Highly suggest if you have a child. There are so many avenues to invest, you have to determine what your goals are and what you are willing to risk. High risk, High reward.

 

Capital One Money Market is @ 2% for account balances over $10k. I might even get a referral bonus if you sign up.

If you want a capital one credit card, let me know. I definitely get a referral bonus there. Heck, I'll even split the referral bonus with you. It is currently $100.

Now, that being said, Capital One is not the best interest rate. The rewards system is competitive with other big brand credit card providers. If you pay it off each month, the monthly interest rate doesn't matter.

 

I'm no expert, but I'll be happy to discuss financial planning with anyone.

 

Associated Credit Union is doing a promotion right now for a free Peach Pass worth $120 when you finance through them. https://www.acuonline.org/home/borrow/auto-loans/promos/peachpass

Plus, they have competitive rates.

 

The issue I see is his limited credit. Dealer financing might be his only option unless he wants a cosigner. Some of the larger credit unions like Delta, Ga's own, or Associated may be more open minded on him if he has good job/pay history but still, without auto loan history on his credit it's hard to get financed for the first time sometimes. Some places offer a first time buyers program to finance people with no auto loan history but they often comes with a much higher rate and other stipulations you don't want to do.

 

$120 in peach pass? That's a week worth's of money from Lawrenceville to 285 commute

 

I agree. He's going to have an issue with the limited credit history. That's not to say that he can't get a good rate without any crazy stipulations.

When I purchased my Tacoma, Toyota was offering 2.9% financing "for well qualified buyers." I had a 750+ score, so I figured there was no way that I wasn't going to get the 2.9% rate. At the time, I had a "your pre-qualified" letter from USAA showing 3.9%. So I knew that I had that in by back pocket. We got to the end of the deal and they presented me with something like 5.75%.

The finance person explained to me that even though I had a good credit score, that wasn't the only factor considered. I had no previous loan history and therefore had given no indication that I was capable of handling such a large loan. Because of the higher risk they viewed me, I could only qualify for the higher interest rate. Long story short, I went with USAA and got a 1% reduction by signing up for auto-pay. So I got it at 2.9% anyway.

I know that Associated Credit Union is one of the lenders that dealerships will use to finance on the back end, so he might get the same rate. In the specific case of @Kidwidataco , if he puts the money into an account that earns interest (let's say 2%) and takes a loan to build credit (let's say 3%), the peach pass might offset the 1% difference even more.

 

Just got home from a week down in Apalachicola National Forest. The forest scenery was a neat change from the mountainous views here at home. However, if you never visit it, you wouldn’t be missing much.
Awesome place to test out your suspension cycling though. Keeping it at the posted speed limit was a breeze but I imagine if you don’t have a setup designed to soak up the washboards you’d be in for a miserable experience.

 

I thought you upgraded to 886s? I guess I havent been keeping up enough on this thread

 

That’s what about happened to me. I dodged it by upping my down payment way above normal so that the credit unions would approve me. Used the credit union rates as a bargaining chip against Ford Credit.

 

Did you camp by the lake?

 

Like the other guys said, don’t be scared of the debt since you have enough to pay the truck off tomorrow if you had to. You may have to play the game I did of using a fair amount of that cash to raise your down payment enough to get approved by the credit union though, since you’re also young.

 

No, we drove by it though. The water level was very low. The roads had just been graded too. It took some effort to find some dips and ruts.

 

Discussed it but never went through with it. Decided to ball out and get the ADS setup. Buy once cry once

 

Super bad accident this weekend at ADS apparently! Super unfortunate situation all the way around... hopefully he has a speedy recovery.



Should I wait for the dust to settle to order ADS or see if Headstrong will still honor the GB pricing and get Kings?

 

I'd wait, personally. You already have a suspension that is working. Otherwise, see if they can honor the deal on the Kings.

 

Ooo that's a tough one. ADS is top notch but how long are you willing to wait I guess is the question. If it was me, I'd just wait for ADS since you already have a decent setup