Bad news guys, made my first payment

If the $30K is the out-the-door cost for a 2010 Dbl OR then you didn't do too bad. If you are adding tax, license, and other dealer fees on top of that, then you are a little high. You're probably only paying $50-60 more a month on a 5 year loan then if you negotiated harder. Don't tell me that you bought an extended warranty or a full maintenance contract.

Like they say, the pain of poor quality last much longer than the sting of paying too much (or something like that).

 

^^^yeah x2- For a new 4x4 double cab trd etc... that's a normal/decent deal. That's about what I got mine for out the door. Enjoy your new truck. The first payment is a biotch, but the next ones get easier.

 

I got mine from toyota of bowie, In 07 put down 2000 and still payed 475.
I was 19 at the time youll be find just makes sure you keep a job

 

Your truck payment is as much as my house payment.

 

I finally got toyota to lower my interest to 6.0% for the soldier/sailor act.- i took the incentive cash (3000) instead of the 0% for 36months they were doing at kningman AZ toyota. i was 4grand upside down in my 06 AC when i got married and the wife wanted a DC. 29999 out the door.

told them if it cost 30k i would not buy it. so they made a fair deal and met my demands.
509 originally after retroactive interest(6.99 to 6.0% over 15 payments) it dropped to 479

 

I put 12k down on my tacoma... my payments were 250 a month it was pretty nice ......its paid off now though =)

 

^ yea, im w/ you!

i once knew a guy that purchased a used tacoma w/ a 23% APR...no joke...and he was cool w/ making the normal payments on a 7 year loan!!! talk about taken!! (shoot, should have purchased the truck on a credit card, would have had less interest!)

in all seriousness dude, make sure you educate yourself before your one of those 25yr olds declaring bankruptcy.

 

your dads mean...!! what did you do to piss him off as a child!!

 

20K Down on a 2010 SBDC..payments are 187.83 a month

 

To the OP. I love Tacomas and i dont blame you for getting a nice truck, but why would you want a huge car payment every month. You are 18 and you are paying 600 a month? I think that is bad decision making. On top of that you still have to pay insurance. I know i wouldn't want to be paying off a truck at this point in my life. But this is only my opinion. I can't judge your decision making on mine.

 

My sons rent in Boston for 290sqft studio is $1400 or 3 my truck payments or 1.9 mortgage payments on 2400sqft home.

Enjoy the truck you work hard for it.
If you didn't get a good interest rate make 6 payments then look to refinance.

I just made my first payment of $430 on my 10 DCLB sport.
It hurt. Most of my drive to work is all highway. I love sitting back, setting the cruise and listening to some music that one day aweek. the rest of the week I drive the 97 saturn.

 

jesus christ guys.

 

Yeah i wasnt taken i went to bowie, annapolis, bayside, springfield, all of them that were the same options and color were all the same price and none of the salesman wanted to let them go but i wont lose my job UNION is the best, for work and pay i hate everything else about it haha i have money saved in case i did lose my job though

 

Do a bi-weekly 1/2 payment automatic draft the day your check is deposited. Before long, it's "outta sight, outta mind."

 

What were you thinking when you signed the deal? Didn't you realize what the payments were going to be? Did your parents have to co sign?

 

This is "real life 101" welcome. Try not to think about the payments, enjoy the truck.

 

Same here man.
My payment is exactly the same to the penny,
and I'm 18 also. It blows... Hard.

 

Why would you be paying 6%+ for a new car loan these days? If you do your credit isn't very good and you probably shouldn't be buying a new truck until you get things cleaned up, IMO.

I bought my 2010 in December and got Toyota Financial at 4.4% for 5 years. I put half the truck cost down but that's not a factor in the interest rate. In March I refinanced to 3.99% for 4 years with my local credit union. I'm on my CU's board and know all the other competitors CU rates in my area. This is the normal going rate these days. Refinance it while it's still considered a "new" car.

 

Im at 13% apr. My wife allmost devoriced me when i brought it home.

 

Maybe it's because you can't spell, lol.

@ mike686:
http://www.daveramsey.com/new/baby-steps/