What would Tacoma World Do? WWTWD!

So i've hit a major snag with my Tacoma

A very long story short, i had a divorce that was final in 2004. My ex-wife defrauded me out of about $55,000 (ran credit cards & lines of credit up in my name, cheated on me and left me holding the bag). At the time our marriage fell apart, i was making less than $40K a year before tax.

5 years later, everything is paid off. So i try to buy this tacoma that's sitting on a lot here in Calgary for about $25K (see thread Just bought a Taco!). After a few days back and forth with the dealer, banks, and even subprime lenders won't touch me. With my salary, bonuses/commissions & car allowance, i make over $100K/yr, but my shitty credit after all this fallout and i can't finance much at all.

I'm stuck between a rock and a hard place. The best they could come up is one of the finance companies will lend me about $17K at 26.9%. This is clearly shit, but i am left without much choice. If i decide to do something this retarded and suck it up, i'm hoping in a year, i've established enough credit back to go back to my bank and get a reasonable car loan for a Taco at a good rate.

So, if you guys were going to buy a truck for a year, what would you buy? $17K here will get you an older frontier, an F150 from the mid 00's, a third gen Montero, etc. I figured there's lots of knowledge here on other trucks so i'd like to hear some opinions.

I can't tell you how disappointing and upsetting this is.

 

well man what I'd suggest is going across the border buying a tacoma that is a demo, thier prices are crazy lower than ours, plus when its used hence demo you won't have to pay duty. Have you looked at a line of credit, becuase at that rate your paying for what ever you get like ten times.

 

Yeah i would go that route....but i don't have that kind of cash laying around to buy a truck outright. A bank won't buy me on a line of credit, that's even more difficult from a lending perspective than a loan secured with a vehicle.

 

buy something cheap as shit for a year and bankroll every cent, while building credit. Get yourself a canadian tire card or soemthing to build it up too if you can. And save like a bastard, you'll love the truck that much more when you get it, trust me.

 

I've had a couple mastercards for the last year that i've been using to rebuild. Thing is, i need to buy a reliable, fairly new truck for work in the next 2 weeks.

 

Well, just looking around locally, an F-150 is probably going to be my choice. Certainly not a bad truck, but not what i wanted for sure.

the only saving grace is my company is technically paying the exorbitant interest rate as i'm using the car allowance provided by them to pay it.

So the Taco waits for another year....oh well, i've wanted one since they came out in 05, i suppose i can wait another 12 months.

 

That sucks..Sorry for your loss.

F-150's aren't bad, I had one that I really liked!
But I love my Tacoma!

And as a work truck, The extra bed space will come in handy! (If you actually need a truck for whatever you do.)

 

find a nice used mid 90's tacoma.

 

I would go with an 00-03 tacoma quadcab, but....too old per our vehicle policy and no finance company will write a loan on something that old.

Which, i could pay cash for something of that vintage, but it screws me from getting a car loan down the road (have to show good payment history on a car loan for 12+ months to be considered by a major bank at good interest rates).

It's a rock, a hard place, a catch-22, and a fuck in the ass all at the same time!

I've made peace that i married a total c*nt, but i wish it wasn't still biting me in the ass

 

damn, that sucks. sorry to hear about that wiggles. personally i love frontiers, but if its only gonna be for a year, i would get the cheapest truck available. ranger maybe?

 

Did you try a dealer? Cause I know that my bank (First Calgary) Cause they are smaller, have to be more careful with their money lending. So they wouldn't give me a loan of 10Gs for an 04 A/C TRD OR but Bank of Montreal through a dealer gave me a 37G loan on my 07 A/C TRD OR. Go figure.

I actually bought my truck in Edmonton. They have TONS of truck for sale up there. It's unreal.

How old will they let you go for your truck? Cause even an 04 TRD Taco was 10-14 Gs if you look around.

 

if i were you i would suck it up and sport a beater for a year and save as much of that 17g as you can... then when you buy your truck in a year you can pay it off much faster... thus building your credit even more

and maybe you'll have enough left for some instantaneous mods!!!

 

I may have misread or overlooked something, but from what I read...you have 17 thousand to spend,correct?? If so then I'd say you can still get a nice tacoma. I bought mine in sept. 2008. Its a 2007 tacoma 4x4 acc. cab etc... blah blah with 20thousand miles on it for 19000.MINT CONDITION. I'm sure if you look hard enough you can find a similar deal. May not be as new or whatever, but theres a lot of nice tacomas around 17 grand. If I misread something then completely ignore what i just said.

As for your x..... Dawg id bust da door down wearin a ski mask and git all up n dat hoz grill and rob dat ho fo all shes got. 55 g's if she has it layin round. know wha iz sayin?

 

your in the states fella, the only way my man here could get a deal like that would be to buy a used one over there, and then our dollar is 26 cents on the dollar to screw us, so it'd still be about six grand more than that.

 

ahhh. didnt know he was in canada. ignore what i said then.

 

or he could take it into consideration, and come to the states to buy a vehicle.

 

and not tell them he is paying in canadian dollars? haha

 

By the time he gets it inspected, Canadianized (Block heater, day time running lights) pays taxes on it, possibly duties and gets screwed by the dollar conversion, he'd be better off just buying it here. Not to mention trying to read the km/h in teeny tiny writing the whole time would suck.

 

well i don't think theres duty to be paid on anything used over there so an 09 demo with five hundred kms on it would work, but converting it might cost another grand, when the dollar was equal after everything said and done... converting, duties on a new truck, everything two of my buddies bought new across the border and both saved twenty grand more than I paid for mine. Just a though, although the conversion sucks alot more than then you'd still be saving seventy five percent of that money.