Did you do extra payments. Who finally owns their Tacoma?

To sell even more.

 

Have title to my home and '04 tacoma but my heirs may have to finish up on the '17..who knows.

 

There’s a whole lot of truth to that.

There was an old guy who worked for a building company that also owned some low income housing. My Dad and brother worked for the construction side of the company responsible for overseeing the maintenance of those buildings. The old guy got free rent by working part time maintaining the gardens around the complex. Wouldn’t so much as flip for a bagel in the morning when everyone would get together to plan the workday. My brother said he would bring his own tea bag and a a couple pieces of toast then ask for a cup of hot water. Everyone assumed he was an old poor hermit a step away from homelessness. He seemed to be penniless.

Long story short, when he died alone in the apartment, my brother had to open the place so the cops could get in after people reported a funky smell coming from his place and no one had seen him for a while. Hardly a stick of furniture in the place. Just a bunch of old newspapers and bear essentials one would need to survive.

The cops found his bank records and it turns out the old dude had a couple million in the bank. My understanding is that it all eventually went to some niece or nephew that didn’t even know him.

 

That's not even that bad. I know a guy who sells boats and I was asking him why I'm seeing all these young kids in these 50k+ boats. He was telling me, over 50k, you can get a 20 year loan! He told me you wouldn't believe the loans he see people sign. Said one young 20 something kid came In with not the best credit and got a 90k boat, for 20 years at 18% interest.
The next crash will not be caused by the housing bubble.

 

Thats crazy! Totally agree and can relate when I was really into racing MX, you’d see the same thing, brand new bikes, toy hauler and lifted truck. There’s been a few articles alluding to the debt crisis including car loan trends the last few years, 84 month loans, negative equity with rising vehicle prices and stagnant wages. Next big economic hit will definitely be debt related. Lots of economists raising the red flag with current global debt ratio. Ive been paying stuff off like crazy, sold my bikes, last thing I owe on is this truck which should be paid off in 2-3 years.

 

Yea he was telling me most those boat loans he sees people sign are in the 8-12% range. Same with quads and dirt bikes.
My buddy was sending me links to wheels as a joke. 5k wheels with in house financing. After interest, those 5k wheels turned into 8k wheels that ain't worth anything.
I see ads for ps4 and Xbox gaming system that you can get a loan for. $99 a month for 12 months! Same nut crazy shit for a tv..

Let's not forget about PayPal and the free money they hand out.

 

Still paying mine off. I'd rather invest the money and get way higher return than the interest I am getting charged for the loan. If you know what to do, it's usually a bad idea to pay off a depreciating asset compared to using that same money as investment capital.

 

When I bought my last truck my sales guy (also a good friend) and me were talking while paperwork was getting done and he showed me a dude who is paying $1300 a month for a “lifted” overland type dealer packaged highlander.

I always tried to buy my bikes cash, financed 2 new ones but at promotional 3.9% from Yamaha at the time. At my age I’ve finally realized the payments just aren’t worth it even if you can afford it, which technically you can’t if you're financing it, but that’s a whole other can of worms.

 

See that's the kind of shit that ought to be illegal. 90k boat, if he makes all the payments (which I feel is unlikely to happen) it would be 240k in interest payed.

 

Paid off my '15 Tacoma in a year at 26years old. Always pay extra when you can. Nothing better than owning a car, except getting one for free.

 

yea, thats for people who are hoping rates go down do they can refinance......or stay up with the Joneses with new cars and homes....heheheh

 

Nope! Own a home. I was lucky enough to purchase my home when the prices were low. That is the only interest I pay. Soon to be fully paid off!
Other then that? I do pay out 10% interest to my investors. But that’s because they are investing with me.

 

Lucky! I wish I was old enough to buy a home when the prices were low. Shit is ridiculous nowadays. Still had to buy one though, I wasn’t about to rent and pay someone else’s mortgage.

 

i had never ever expected this to happen what i think to be currently happening
yes, my Tacoma lost value the minute i drove it off the lot in May 1997 and kept depreciating over the years,
then sometime at some point it must've stopped depreciating and is now appreciating .... i have no clue it befuddles me
but I am not 100% positive of this oddity because I have never ever checked the market value until recently out of pure curiosity

 

Its the same thing with my Supra bought it in 2010, have contemplated selling it and seems like everytime I check selling posts their value appreciates. Had I been able to get a hold of a 1st gen that wasnt rusted down here in VA I wouldnt be owing any money thats for sure.

 

i got no clue what the deal is with the small truck i have ... these small Toyota's are worth TWICE what the detroit compacts are now worth 20yrs later
I have no intentions on getting rid of it, it suits my small needs very well and has the old time charms
just EXTREMELY concerned now that some piece of dipshit is gonna hit me on the road where it hurts
and their insurance company is gonna say Ain't no way your truck is worth what you're claiming and WE ain't paying for your loss

 

Its the demand theyre so reliable, and cheap maintenance and kind of icons. Supra has 90s, the 1st gen iconic for Back to the future or at least that was the reason I was gunning for one for the first place.

As long as your insurance says thats what its insured for. I mean you're not going to be able to replace it with a new one. My Supra was insured for 35k if it was totaled in 2010, Im actually curious what the amount is now.

 

also, it is probably good to owe money on a new truck if not able to pay for it outright, (for me it was anyway)
for the simple FACT that you know more or less exactly where your truck has been and who's been in it
for a used truck you most likely cannot get that confidence level

 

Paid $34,500 OTD for my truck in June of 2013. Put $10,000 down on it. Over the next 18 months I paid off $7000 and then when I went to go buy my house I had $18000 left to pay. The mortgage company I got my loan for told me I needed to pay off my truck to qualify for the loan so I wrote an $18,000 check to pay it off. Hard to hand over that check haha but was stoked to own it outright at that point. No payment for 4 and a half years now

 

i have asked my insurance agent a few times on the 'what if scenario' and he has absolutely no clue what will happen with another company of the at-fault (certainly can be my fault, I try to drive safely )

i would have to replace it with a new 3rd gen or possibly no truck at all
just will need a little step stool to get things safely over the rail lol
and figure out what to do should an item become dead centered in the middle out of my reach!

is there a mod for that?
some kind of extendable handy stick to tuck away back there?