Need advice! 2019 Tacoma - keep it or return it....

Let’s say someone finances the full vehicle price for a new truck. Really what difference does it make to finance the taxes? You’re already upside down once you roll off the lot. I don’t understand what is so specifically horrible about financing the taxes. By this logic, really, pay cash for everything to avoid interest. Which, of course, is preferable any time. Like I said, don’t get the fixation on taxes. What about title? What about the dealer fee? Should I avoid financing those? What about delivery? Warranty?

You’re beating up the OP but you’re also kinda being silly.

 

I'm not beating up anything and if you don't understand why financing taxes is stupid there's probably nothing I can say to make you understand. Let me just tell you this, when a salesman asks you if you're gonna put something down and your response is no (or at least not to say cover taxes or something) then they know they are dealing with a dumbass. If you at least tell them you plan to cover taxes (or even better tell them you're going to cover 20%) then they know they are dealing with someone who's got a damn clue on how it works. It's funny to me how you guys don't mind being totally upside down on a vehicle, "screw it, throw in the taxes and a $1k doc fee too, I'm an idiot!". That's what they hear.

 

Clearly I understand that the consequence of financing anything is to pay interest. Why that’s specifically stupid for taxes, I really don’t know. It’s no more “stupid” than financing any other portion of the cost breakdown of a new vehicle. Would I ever finance 100% of a vehicle including fees/taxes/tag/title? No. But it’s not because it’s stupid, it’s because I would prefer to spend less of my money on interest.

 

Because a tax is a fee and an interest rate is a fee. If you finance a tax you are volunteering to pay a fee on a fee. I'm sorry if you don't understand how dumb that is. Goodbye Mr Hook.

 

LOL you cant escape rust. Its going to happen no matter what

 

Yeah, probably just spent all winter driving around on road salt, didn't wash the undercarriage regularly and then is surprised to see the signs of surface rust.

 

If the interest rate on the vehicle loan is lower than what you would invest the cost of the fees in instead, it’s actually rather advantageous to finance the fee. Not my preference but, saying that a fee on a fee is always dumb, is dumb. I’m sorry if you’re having difficulty understanding that. You have yourself a great day Chuck.

 

also, go look at the underside of any truck on the lot. I guarantee at least 1 has surface rust, and they have 0 miles!

 

If the resale value is more than your residual you are entitled to the difference in cash. Don't just give them the keys and walk away, you may be throwing money away.

 

There are a lot of other aspects in this thread. Looks like someone didn’t read through the comments before going all SJW.

 

Not everything this guy says is true. Not all of are are going to be millionaires. Not all of us would become millionaires even by following every piece of his advice. I ran across a video from him recently saying that finding 0% APR on a car is virtually impossible. He said that those who do score 0%, pay near MSRP to compensate for that "deal". I scored my Tacoma at 0% with nearly 7k off MSRP. The guy has a lot of good advice, but he isn't some financial God like many claim him to be.

 

You are correct that he is not a god.

But leasing is still the most expensive way to purchase a car.

OP isn't interested in actual advice, he was looking for validation on his decisions and someone to tell him it was ok. IE people who told him leasing and then turning around and financing another brand new car have an IQ lower than 50.

 

Not to be outdone by the person who perpetually leases new cars two years at a time. And there are many.

 

So yesterday I bought the lease off, 1.5 years early. 2019 TRD sport with 13k miles for $33.5k financed at 2.9%.
Considering current market situation where used Tacos with major milage and abuse are going for $39k and up, I made a decent deal....obviously all those lease payments that I have been making for the last 18 months went down the drain...
Thanks all for good feedback.