What are you paying for 2020 Tacomas?

If indeed it's 0% over 84 months, check if there's an early payment penalty. I would never take out an 84 month loan, even if it's 0%. If you can do it though and pay it back within 60 months without penalty, than definitely take it.

 

So a local dealer near me offered via email a price of $33,916 ( not including TTT) for a voodoo blue double cab SR5 model. i'm assume after tax/tag/tile that will shoot up to about $35-$36K OTD. so in everyone's opinon here, could i get this cheaper? i would honestly prefer a sport model, but i am kind of tempted.

 

4x4, V6? What are the specifics?

 

v6 rear wheel drive.

 

That looks to be about MSRP for an SR5, V6 RWD, unless it has options as well. I picked up my SR5 V6 RWD at the end of May for $31,500 pre-TTL, MSRP was $33,483. This was just as inventory was getting low and dealers were becoming stingy. I took the 0% for 60 months instead of the $1500 cash back. With the way prices are going now, people are lucky to get MSRP these days.

 

I agree !

 

If someone wants to loan me $40,000 for 20 years, @0% interest I would take that in a heartbeat.

 

Sign me up

 

No kidding. I got 0% at 60 months and I was damn happy with that.

 

Long time lurker, first time poster. Looking to replace my 2019 SR5 which I unfortunately totaled. Local dealer in western MA is offering $33,500 with incentives/discount before taxes for a 2020 SR5 DBL cab V6 4x4. So about $35-36k OTD. I get that there is an inventory vs demand issue going on but seeing if anyone else in the area had any input. Just feels high for an SR5. Thanks!

 

Just saw your Picture. Everyone ok ?
Weather ?

 

Thanks for asking. Luckily no injuries. No other property damage. Hydroplaned off the highway across the median and flip onto the roof. The Tacoma + seat belt saved my life. Someone was def looking out.

 

Actually, if you can get 0% financing for 84 months its more beneficial to you (the buyer). No need to re-finance to shorten the term unless for whatever reason you feel better about paying more $/month. Yes, you may take 7 yrs to pay off the loan, but who give a shit! All that means is more cash in your pocket every month for you to do whatever else you need to do with it and best part is... you're not getting penalized interest for it!!! Unless that credit union is asking for your first born in exchange for 0% for 84mo I say go for it!!

 

I'm quite sure on the thought process on this. The only concern might be GAP coverage, but the Tacoma's hold their value really well. 0% for 84 months, that's free money!

 

Wow ! Yes thank God for safety features on these trucks. Now a new one to replace it. I have a 2020 TRD 4x4 Offroad that a fortunately found last week here in SO cAL. So i'm not familiar with prices on the SR5's. I just know that from the Forum here that deals are not here like they were before. The best to you in finding a replacement. wait for a 2021 ? Trail Edition ?

 

I understand the free money thought and it's definitely better than 84 months with interest. I'm looking at it from the financial stand point that if you need 84 months to pay something off, you probably can't afford it. Also that loan/debt will be hanging on your credit score for 7 years. I know Tacomas hold their value better than most cars, but still after 7 years the residual is still going to be less than at 5 years.

 

From a financial standpoint it's still a wiser choice to finance for whatever term if you have 0% financing. I can make money on my money while I pay the car off month to month. Just because you are financing the purchase, doesn't mean you can't afford it. I'm in still in the market for a new tacoma and I have the cash to pay it off in one lump sum but If I can finance it for 2% and under I will and I will save/make money off of my $ in the bank (paying off other high interest purchases, investing and such).

 

Sounds like you have your life in order than, have fun with your new Tacoma and other high interest purchases.

 

Oh trust me, fun will be had once I get the taco I'm looking for. Always happy to provide insight! And remember.... 0% interest is our friend, high interest rate is not our friend.

 

Yes, there are instances where the wrong buyers are purchasing something they probably can't afford. However, a large part of that is hedged by limiting those terms to top tier credit buyers.

Also you're making the assumption that if I take a 84month /0% loan, I need that long to pay it off. I would use the longer term to have a lower monthly payment (let's say $300) but pay more $500 a month to shorten the term.

I'm in the same boat as TacoJuice82. I can pay for the truck outright but my lump sum would be more lucrative in other investments.

In the event that the economy crashed and hyperinflation occurs, you're still in good if not better shape if you locked into a 0% loan.