How long did you finance for?

~$43k total all in cost (with extended warranty, tax, tag, etc ,etc) (got taken for a ride apparently after not doing research on here first)
$5,000 down
$1,000 toyota rebate
$1,600 refund on my unused portion of my last auto warranty from them on my old tacoma
$8,500 trade

Total financed ~$27k
Since I took the 1,000 toyota credit I didnt qualify for the 1.99% financing through toyota BUT they offered to buy down the interest rate from another bank on their dime.

So got 60 months at 2.00%

 

Yeah a friend had the triple play and everything, every premium channel too. Mine is under $90 with internet service.

 

Yes! We have an antenna. I think we have 30 channels or more. There's always something on, even if it's reruns of old sitcoms.

 

0 down.

45k financed at 23% apr for 45 years. have to wear ankle bracelet.

 

1.9 for 60 months but making last payment ( #18 ) next month. Feels great to pay off in 18 months!!

 

Oh I'm aware. I'm a big advocate of roth accounts, have been contributing to them since I was 18. Sounds like roth contributions are a solid play given your situation. It's not for everyone though and it's not a completely tax free account as you originally suggested. Couple things to consider in defense of the traditional...

Your buying power is reduced in a roth vs traditional because you pay the taxes up front. Yes, you have to pay taxes on gains in the traditional but the extra gains realized by increased buying power up front in the traditional over the course of 30+ years is substantial and could potentially way outpace the lack of taxes paid on roth earnings. This primarily hinges on two things...what is your tax rate at the time of roth contributions and what is your tax rate at the time of pulling traditional funds. Only one of these is known and the other can only be estimated. To drive this point home, imagine a scenario where income tax is abolished at the end of this said 30 year period. Your roth account would have been a gigantic mistake and a traditional would have served you way better. The opposite of course holds true given a large increase in tax rates some 30 years from now.

 

i financed for 6 yrs. i will probably end up paying it off within the first year. i could pay it all off now, or could have bought it cash in the first place, but i dont see any benefit in sinking 40k into a depreciating asset when i can put that money into an index fund and it will be worth way more than what i had to pay in interest on the car in 6 years.

i think the best thing to do is to finance for as long as you can while still maintaining a low interest rate. use that money to make you more money. buying a car in cash seems stupid to me.

 

Get rid of it. I just tether to my phone for the laptop and run my business. $100 a month.

All the entertainment you need is on TW.

 

36 months. Could pay it off but 2.9 is close enough to free.

 

Best post in this thread. Even more simplified, one could just say don’t pay tax until you have to. It’s a gamble either way, though.

 

#300 on the bench, and Cash on the head. The only way I do business.

 

My wife watches all the crime channels. I sleep with my eyes open.

 

dont worry about her attacking you in your sleep.... just make sure your food taste normal. Women posion people. (what ive gathered from crime shows)

 

72moths @ 2.7 %, could of bought it cash but chose not to, ill pay it off in 3 years

 

She's a princess, doesn't even cook. And she's not getting my Tacoma, can't even drive a manual.

 

True, I miss typed originally as it’s not tax free completely you pay tax now but not on growth, I was driving at the time so I probably should have been paying more attention!

The real benefit of a traditional 401k IF your maximizing is to invest the money you save in taxes also, with a Roth I just do it all at once, and as I mentioned a Roth is available in full to my wife should I meet an untimely death...

I’m no investment genius but I did many years of a regular 401k when I was younger, when a ROTH 401k wasn’t available to me and I made much less money.

My thought is with some traditional, some ROTH, and a pension I can use whatever is most appropriate for the situation I’m as you said no one knows what the future holds.

I’d like to start focusing on a brokerage account that in theory could bridge me from an early retirement to 59.5 or 62, but again that’s quite a ways off and who knows what the future holds.

Bottom line is I (and hopefully everyone else on here) does the best they can with the information they have today. I’m sure I’ll never regret funding my retirement, unless I die early in which case I will have made entirely the wrong choice. Only time will tell hahaha.

 

Financed for 48 months, paid off in 5.

 

TW is very entertaining. It's replaced facebook and twitter for me.

 

@YOTA 4X4 people are way under preped for retirement. I know i have a good pension being public schools and in the state employees system but I need to get a 403b going to. I never met out with the dude since lock down.

I have my own savings and no credit debt, nothing but a small 20 year mortgage that's half paid and my truck loan.
Single too no kids. So I'm doing better than many people.

I'll probably leave the country for retirement someplace cheap and warm since I don't have much holding me here.

 

I got a '17 DCLB SR5 in '18. 3k down and financed 30k for 72 @3.48. I walked in w/ an 800+ and ~15yr credit history but nothing bigger than the cell bill on that history. I needed a newer/more reliable vehicle and this was a bit of a "splurge" for me. Still able to put some money away, will be paid off ~10mo early & I love my truck.

I did think about taking advantage of the 0% in 2020 to get a new OR but 60mo was more than I was able to rationalize and there is nothing wrong with my SR5.