How long did you finance for?

All you fellow Toyota enthusiasts buying new trucks how many months are you financing for? 48? 60? 72?

 

72?!! What tha?? That’s crazy. But then again imo if ya can’t pay with the green stuff you can’t afford it.

 

72 months @1.99%

 

oh it gets worse. Some banks will go 84 months!! Absolutely insane!

 

I put $21k down on my 2017 and financed the other $12.5k for 36 months @2%. Paid in full by October 2020.

Financially speaking, anything over 60 months is pushing the envelope of being irresponsible. Buying too big for the wallet at that point.

 

60 months @ 1.49%

 

Ok. That’s crazy. If you have to go 84 months. That’s definitely means you should not be buying. 84 months what are people thinking.

 

72 mnts, 1.99%

 

I honestly feel that anything over 60 months is pushing crazy. The only reason I would justify a loan that long would be if the interest rate was tiny, and I had the cash in the bank to pay it off at any time.

Sometimes leaving the cash in the bank earning peanuts is safer than putting it all down on one item (the truck) and then having something catasrophic happen to the house or something major that needs cash now.

 

Tundra 36 mo. Put $35K down.

 

72 months 1.9% I keep throwing cash at truck to get it paid off sooner. These damn mods are slowing me down

 

Trucks are fucking expensive now so if you are poor but still need one for work etc you either finance forever or drive a shitbox with 280 on the clock.

 

unfortunately all things are crazy expensive now, it's a reality, but we all have only 1 life, so....

 

2018. 60 months at 1.9%. Sold truck 2 years in, walked with $11k equity.

 

84mo @ 0.99%

 

LMAO No one is gonna admit to 84 or 90 or a high % on a forum.

We all make bank and bench the 275lbs here on TW

 

My Tacoma 0.9% for 48
Wife’s Rav4 0.0% for 60

My truck was paid off about a year early, her Rav is also ahead, we try to force ourselves not to pay too much extra, after all if you’re investing your money at 7-10% return vs paying a loan off at near zero it just doesn’t makes financial sense to devote your money to the loan.

Also there an argument to be made for long loans being beneficial since with the cost of inflation you may actually be paying even less by stretching your loan longer.

Personally we just don’t like borrowing so we have minimal payments but if you’re responsible using other people’s money can, in certain circumstances make good sense. What doesn’t make sense is spending MORE money on a vehicle or to judge affordability by “payment”

But to each their own.

 

Leased mine for 42 months with 0% apr. praying that the rates aren’t complete trash when I buy it at the end

 

No hate here! If you can get that rate for 84 months and you want to keep it “forever”, why not! Plus, even if you sell early, every payment you make is knocking down principal

 

I bet theres a lot of 72 at 7% and 84 at 5% on this forum. Also I bet we will see 96 and 108 month loans in the next decade.