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

Y’all are making my brain hurt! Unsub!

 

I pay cash for my vehicles. We aren’t rich and done claim to be. My wife and I have a car fund we put into every month. We keep our vehicles as long as possible. When we need a new one the money is there saved over a long period.

 

With $22 trillion in debt not sure that’s a completely safe bet.

 

I bought mine with "cash" too, and it was paid for completely when I drove it off the lot. Like you, I have just been saving for years, so that when the time came to where I wanted to buy another vehicle, I would have the money. I have always done this, and always bought my vehicles and paid cash in full. I am not rich either, just what I would consider to be "prudent". But in my case, I was also smart, in that the entire breakdown for me, was that I wrote a check for $25,000, charged $5000 [maximum amount the dealer would allow me to charge] on my credit card so I would get the "points", which is money back, and then gave the beautiful female saleslady I was dealing with, $8000 in cash, for a total of $38000 OTD [Out The Door]. I live in CA, so paying 9.75% sales tax is what hurt me, but I got what I consider to be a good deal, so I am happy.

 

Paid off this week!

 

It is about as guaranteed as any investment.

 

Paying off extra each month, where I can pay this 3 year loan off in 2 at least.

 

After 17 pages (that I'm not going to read) hopefully someone mentioned that if you do make extra payments, then Toyota will suggest the next month's payment be less than your normal payment so the extra payment doesn't have any long term benefit.

My payments were something like $270 a month (4 year loan), so I rounded up to $350 a month via autopay (so each month was always $350... even though they said I didn't have to pay that much). I came into some money and paid it all off before my extra payment plan was finalized. If I kept wtih this plan of an extra $80 or so a month... I would have paid it down a year or so earlier. It didn't end up saving all that much in interest, but I prefer having a buffer (in case I really can't pay $350 a month for a little bit... I have the safetly net of the $270) to pay it down early rather than set it up when starting.

I'm sure someone could identify a problem with this, but it works for me.

 

When I was at the dealership I overheard the customer behind me was paying 18% interest on a new car! The salesman was explaining the rate was so high due to the fact that he already was financing other cars. I honestly felt bad for the guy because A) he might just not know enough about interest rates and B) the salesman was selling that 18% like it was a huge discount. It took everything in me not to tell that guy to go to his local credit union. Even if they gave him 8%, what a discount...

I can't imagine the deals that happen every day where folks are just getting robbed blind...

 

That's interesting because that's definitely not the case for how mine works. I wish it was. Anything extra I pay goes straight into my payoff amount, rather than my monthly payment. Wonder what the difference is if we are both financing through Toyota.

 

Paid mine off cause it looked like I was paying more in interest than I was towards the truck lmao. Damn 4.99% interest rates...

 

Paid cash for the Pro
Declined the following:
Service maintenance contract
Extended warranty
Gap insurance (I own the car)
Window tint, did my own tint
And the biggest scam,ZAKTEC

I finance my first Porche at .99% yes really my credit union
Second Porche 1.99% USAA
Last porche 2.49 BOA

 

Just pay cash!

 

Lol
I’m a P car guy thats now into off roading also. Past few years has been a buyers market with interest rates under 1%. So many ways to invest money and then pay 1 or 2% interest. Rates still low in the grand scheme of things, but the days of crazy low rates are over.
GT3 RS in the track
Tacoma on the trails
My favorite combo

 

I had a 72 month loan and paid it off in 40 months.

 

I live in Commifornia too. I feel your pain related to taxes.

 

We bought mine outright. 7.75 % sales tax for our address (I think it's just about the lowest in CA) but they also hit you with the commercial license nonsense and the weight fee. Just another day in the Socialist Republic of Kalifornia. The comrades in Sacramento have never seen a tax they didn't like.

 

Thanks. I even thought about buying it in NC, since the tax rate there is only 3%, which would have saved me $2000 in taxes. I have been wanting to drive across country anyway, so the savings in taxes would have paid for the trip. BUT, I found out that the state of California, in its infinite wisdom, has cameras at the border checking license plates, so when I drove the truck back in, they would know when it came in, and as such, I would still have to pay CA sales tax. You have to have bought your vehicle and had it for at least 8 months outside the state, to get around having to pay CA sales tax on the vehicle. They do that so people won't drive out of state to save on taxes. So that is why I "gulp" paid the 9.75% sales tax. The good thing is that since I itemize my CA income taxes, they have a question on there in the portion where you can deduct for higher sales taxes, that says "did you make any outstanding purchases during the year", or something like that. So in addition to getting a higher deduction for CA sales taxes, I will also be able to deduct the sales tax I paid for the truck, which is at least, 'something'!

 

Ideally yes but, everyone can’t due to their economic situation.