Convince Son Not To Lift 2023 Tacoma Off Road

Co-signing is dangerous in the best of conditions. The person who needs your signature may be responsible in thought, but is probably exceeding their current financial limits. You expose yourself to the risks they will break under the pressure despite their best efforts.

Unless the kid is working in the only building dead-in-the-middle-of-a-hellscape, a 17k used Subie could satisfy a "more than a Civic but inexpensive" matter.

The father did not have the cash to pay free-and-clear, so apparently the family as a whole needs to protect itself from excessive spending.

 

Once Ya get older, you don't really give a shit what anyone thinks about you...at least that has been my case. I wear black socks to mow the lawn because they can handle it. If I'm hungry I will to grab something to eat, I don't give a ss...care for what someone cares about my sock attire. I kinda like the freedom really. Grew up in Farm Country and never really fit in until now. I'm closer to 70 than away from it and, far as I have figured, we are all going the same direction. Something to thing about...

 

To "thing" about? Hey, I'm 27...I mean 57...post those sock pics!!

 

Not sure about Hawaii, but her in BC a 6” lifted Tacoma has very low resale value compared to one that is stock or maybe TRD lift.

99% of prospective buyers are going to assume the vehicle was abused and likely modified by amateurs. When the time comes to sell it ( which will be sooner than the son thinks today) the only market is 18-year-old boys who have very thin wallets.

 

The dad has only $50k in savings and retirement funds, makes less than an electrician, bought two brand new Tacomas for both his kids, and expects his son to make good financial decisions. Then gets mad at the slightest critique of his or his son’s judgment.

Wow.

 

Have not read this entire thread, so not sure if this has been said or not. It's generally a bad idea to loan money (or cosign) to a family member. Either gift them the money free and clear or tell them you cannot help them. Many family relationships have been destroyed over internal loans, so be careful.

OP you are still in charge, kind of! Good luck to you and your grown children.

Carry on!

 

I don't understand why people insist on making judgements about people's finances on threads where no one asked a financial question or requested opinions. It's none of anyone's business, and no one knows their actual financial situation.

 

Dude, read the whole thread. OP brings it up.

Click postings:
https://www.tacomaworld.com/members/tachi2006

 

I read 50k in regular savings and a bunch of real estate, but my mindset is weirdly different.

Me personally, my retirement assets do not exist in my brain. They are there waiting until the day my brain acknowledges their reality, but that day is not today. I just log in once a quarter, look at the number, decide if anything needs adjusting, shrug, and promptly forget about it for three more months.

So if I ever talk about what I have in savings, those retirement and investment numbers do not exist. It's simply what I have in liquid -what I can withdraw and spend in an hour (and that number, admittedly, is not close to 50k).

When I hear others talk about their big bank accounts, I hope like hell they are just talking liquid-immediate-access numbers, because otherwise, damn, that really changes the tone of the conversation.

 

He brought up about cosigning, helping with insurance, and the fact that his son earned more than he did on a paycheck. I don't see anything about his savings or retirement funds other than other people's assumptions. Did I miss something?

 

https://www.tacomaworld.com/posts/28645289/

https://www.tacomaworld.com/posts/28645386/

The guy was trying to keep his son from doing a lift because it was a poor financial decision when he himself bought two Tacomas for his kids when he barely has any savings.

 

Ok, I stand corrected. He opened the door, and people here aren't shy about walking through it lol. Although he won't be opening any doors for 29 more days.

 

Yes you did. He did talk about savings and the number of assets that he either owns or paid cash for (including a second Tacoma for the other kid).

Which again, good for him. But considering wealth is a curve function of X multiplied by income at Y age and therefore pointless to brag about... it's weird to brag about it.

 

Sounded to me like OP only co-signed, his son paid 10K down and is making the payments. But, he's still living at home and as far as I could tell is not paying rent or bills. Personally, I'd be having that conversation as soon as he brings up doing a DB lift on a brand new truck and see where things go -- if he can pay rent/utilities/food/truck payment and still afford the DB lift he wants (without financing it, like some other recent dumbgeon conversations have gone)? So be it, let the kid make his own mistakes.

And I'm just ignoring whatever OP said about savings and investments, none of my business and not relevant to the conversation.

I doubt OP will be back.

 

It is relevant because he’s complaining about his son making a poor financial decision when clearly he’s not the modeling good financial decisions in the first place.

He bought his daughter a brand new truck and said he was scared she will wreck it, for goodness sake.

 

Never run into any of these problems with a Frontier.

 

You might want to view in context. See the circled part that he was specifically replying to, and read the first sentence of his reply carefully. You're misrepresenting what was said.

 

When i bought my new PRO, I kept my old g2 for my 9 year old son. He desperately wants to own a MT someday.

New Tacos are for men or women who can afford them independently of their family. Sons get 350k trucks, until they can buy their own.

What has happened to this world? Why would an 18 year old get a brand new OR???? Take that shit back and go find a nice g2 with 200k for 14 thousands

 

Because his son had the money to buy it outright and has a great paying job. His Dad convinced him to finance at a low interest rate and invest the money instead. Probably cosigned because an 18 year old doesn't have the credit history to score the low rate.

 

I couldn't get my license until I was 18 parents said I was too irresponsible they wouldn't sign the paper work.