payments ??

Ouch! They really are that much more in Canada ... (wait for it...) eh? Lol

 

08 Tacoma, 16 miles on ODO, 4WD, access cab, v6, trd, manual.
Nothing down, no trade in. $28,000 out the door including tax, license etc.
2.9%, $502 a month for 60 months through Toyota financial.
Have four more years.

 

i could've got a tundra for cheaper but i dont like the way they look, i even got it a grand cheaper then any other dealership would go, its only a bit depressing, lol. you know eh

 

WTF im 21 and no accidents or tickets and im paying double who is your agent? what company? i can only dream of paying a hundred a month

 

Not making any point at all, obviously- just asking a question. Just simply wondering who dropped 30k cash- and if they were stacked and could have afforded an Icon, but wanted the tacoma.

 

400 a month, for 60 payments!! Insurance is like $60 a month full coverage of course.

 

Whoa! It's Ken and Barbie! What's an "Icon" Ken?

 

I hear ya lance, Sucks to be in Canada some times. 17,500 down, 631/month for 36 months. Likely will pay that off in a year or so. I normally live debt free but didn't want to give up too much cash in this economy.

 

Hey Tim, Dont forget insurance when figuring if you can afford the truck. You're gonna get raped on insurance being only 19. Mine is like $825/ 6 months with no tickets and some discounts for GPA and stuff.

 

paid 23,500 for one month only.....haha. Prolly doesnt help though

 

well thats good to know i was like a 3.8 or somethin gpa

 

ya ill still be listed under my truck now, my mom would put it under her name so i wouldn't have to pay as much and get raped by the insurance, oh and that was all figured in why'll deciding if i can do it

 

single briefcase payment of 34,654. hehehehe its nice

 

It's not always bad, but it is most of the time. Typically the interest on low-interest loans can be outrun by gains in other areas.

A good example is a furniture sale promo with 0% financing for 12 months. You HAVE the money before you purchase, of course, but you don't just buy it all cash then. You leave that money invested in or in the bank, earning interest, until month 11 when you pay off the balance in full.

Paying cash for vehicles is typically a smarter move, yes, but Ramsey is off base when he advises against financing at all.

In my opinion, you'd have to be dangerously under-educated about money management to learn anything from his books. It's mostly common knowledge. And yes, I have and have read a copy of Total Money Makeover. His real genius is in selling boatloads of copies of that thing.

 

I pay nothing. Paid mostly cash, then paid the rest off w/in a few months. Like acesii, I've been on the Dave plan for a while, sort of. I'm sure Dave wouldn't be happy that I bought the truck instead of diving my previous (paid off) car into the ground.

I plan to drive the Taco into the ground, though. January will make 2 years, and my goal is at least 10.

I don't understand why his advice being common sense is a turn-off. And 'never finance anything ever' isn't exactly what he says. Almost nobody can pay cash for a house, so he has no problem with the right kind of mortgage.

In his opinion, though, the rest of your life can be financed with cash. It's difficult to do, especially if you have expensive tastes (or frequent this website and its expensive mods), but I don't think it's bad advice. Our only debt is the house, we have a hunk of money set aside in case of an emergency, and we're saving towards retirement. I'm the first to admit I've had some breaks in my life, but it still feels GREAT to owe nothing on anything.

EDIT: I just saw your response (post #117). I think you posted while I was writing...

In practice, getting low-interest loans and using the money to invest elsewhere nets very little. The reason is that most low-interest debt is in small amounts, and come few and far between. (The exception, of course, is if you can get a great rate on your home mortgage.) I've taken the "0% for 12 months" on furniture before, but if the rate is anything above zero, I'll go ahead and pay. It's not worth the hassle for a few bucks.

If paying cash for a car is typically a smart move, why is it not a smart move to pay cash for other purchases?

I think you're right about having to be uneducated about money to learn from his books, but MILLIONS of people are incredibly uneducated about money in this country.

 

I'm looking in interest for the same reason. The financing part itself isn't important but the sold price from area to area is amazing. I figure if you get a new, well decked out TACO for around $ 25K then you lose about 20% just driving it off the lot - That's $ 5K. Then another 10 - 20 % per year that roughly 2-4K per year. If I want a TACO from 05 or 06 or 07 that would be quite a bargin. Also knocking some off for mileage. Just my thoughts. bsvirginian

 

I paid cash, but this has little to do with what you might be able to pay. Lay out your finances in detail, determine what your goals are, then make the call within your budget.

 

I paid cash w/ trade in back in 2005.
BTW I am on Step 7, I was on Daves plan long before I had heard about Dave and his plan, I thank my parents for that one.
Now if I can only find some new wheels and 285/75R16's for a steal....

 

With a 250K 98 tacoma extended cab for a trade in at 6K$
438/Mo - 5.65% at credit union 2-1/2 yrs ago. The 2007 ride already has 62 K on it.
Not enough off-road miles as I would like though.

 

make sure you keep that tsx waxed or it will become milano pink. That color is notorious for fading to pink. I repainted my cousins prelude for him a few years ago back to milano red from milano pink. sprayed four coats of base and you could still see some spots where the red tinted primer I used was slightly darker than the existing paint.


btw I pay $345 a month on my 2007 DC 4x4 I just bought. 72 months a 7.25% 0 down. took out a 6 year loan for the lower payment however the goal is to pay it off in 3 years by paying extra on it.