Dealer Charging Too Much?

Thank you, appreciate that! It's loan to value (vehicle's). The dealer is clearly overpricing and the bank feels the mods don't account for the difference. I agree with bank, but what can I do? Some banks will only allow 100% or up to 120% to be financed. Only for new vehicles, is up to 150% allowed (yikes).

Unfortunately it's 2020 and what was once new to a bright eyed boy in 2004, is now "old". Newish 3rd gen just isn't viable, to cut $500-600 a month. I trust Toyota trucks (excl rust), against another Ford or any lame GM or bankrupting Dodge.

My truck isn't unreliable, just very expensive overall. Camries sell so well on this basis against Fusions. Decent, low cost. Tacomas too.

Exactly what frustrates me. Truck has little to no online presence for now, but people are already asking. Ft Bliss guys biting at it worries me more (majority of local TRD trucks are uniformed personnel).

 

You have a Dodge right now?

 

No, one SVT Ford with a thirsty 6.2L.

 

The Raptor was my dream truck back in the day! $900 a month?!?! That’s a mortgage payment in some places! What year is the Raptor? Did you buy new?

 

2014. I am hoping the dealer doesn't find this thread lol. It's the vehicle next to the Taco in OP.

Virtually everyone in my life don't know how much I'm paying, factoring in the over 7% APR. The principle is still in the 30s.

 

Did you buy new? Is that monthly payment so high because of high interest or because the loan is less than 5-6 years?

 

And this is for the dealer if they find this thread...

 

Yes I'm a vet and I bank with Navy Fed and use USAA to insure my vehicles.

 

Thanks for your service! Navy?

 

Marine Corps. Although I did spend a few months riding around on a ship during deployments.

 

Marines often acted as security on battleships, and among other things were tasked with wrangling unruly sailors, correct?

 

Navy has their own people to deal with things. I was a radio operator and my 1st deployment was pre 9/11 so things were different back then.

 

Ironically, someone traded it in on a new Lexus a few years ago from NM (only Lexus dealer for 4 hours). At the time I wanted a brand new TRD Pro Tacoma 6MT. Dealer wanted $50k to just special order it, I balked. Later found this on their used lot and bought it irrationally at a 6-year term, with $5k down. Tired of it now.

 

So you can afford it but you're tired of it?

In many ways a Tacoma is a lot like a woman; The right one will come along eventually! Also, I am currently saving up so I can pay cash for my uncle's 2017 AC TRD Sport 2WD AT in a few years (and hold onto my current Taco). My uncle bought the Tacoma used earlier this year (paid cash), but expects truck to have only 30K miles in a few years because he lives in Myrtle Beach and rides his Harley everywhere.

 

My dad took me, my cousin, and one of my best friends to see the Battleship New Jersey back in 2012. One of my longest-running interests is HVAC. I asked one of the volunteer tour guides how the ship was heated and cooled, and he was nice enough to take me up to the deck where the chiller had been installed. He also told me that this particular section was where the Marines hung out, and if any non-Marines went up there they were eligible to be shot. He then proceeded to tell me how the relationship between Marines and enlisted Navy guys was not the greatest because, like I said, the Marines were tasked with keeping sailors in line. I believe the last battleship was decommissioned in the early nineties, so this was a while ago; That's where I got the whole "Marines acting as security on Navy ships" thing from...

 

Oh no, I love it. But it is too expensive to deal with now and $500-600 of that $850 payment could be better used. A failed business venture years ago, made me ditch my last Tacoma. The next year I paid eradicated $100k in debt, then celebrated with this truck.

The Rap was a emotional decision to buy when I got it and now unviable, as my finances were strangled by helping a devious relative out, shortly after clearing $100k in debt without bankruptcy nor public assistance .

In my 10 year credit history, only 1 late payment (TFS-30 days). Otherwise spotless credit. I've made many senseless decisions regarding vehicles, that need to stop and choosing something cheaper, yet pleasant and rewarding makes sense.

 

So you didn't come close to getting a visit from the repo man?

 

I got a notice from TFS back then, but got quickly helped out by my old man and paid double to clear any deficiencies. Tacoma got sold 1 month later, one of 4 vehicles I owned back then. I was paying for 4 vehicles then and sold them off one by one.

As for this one now? No, I'm on time. Just naïve generosity biting me in the ass and trying to recover.

 

My dad put $2,000 down my Tacoma and financed the rest at 0.9% APR through Citadel (sticker was over $17K but total price OTD was less than $15K). He paid it off early in late 2012 or early 2013.

 

Wow! are they stupid? I guess they’re hoping someone stupider will buy it.