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

My dealer's business practices were borderline unethical and predatory. I really needed the truck purchase to go quick or I would have walked out on them.

They ended up giving me a high interest rate so I moved some money around and paid it off in full about 3 months in.

 

I appreciate you reposting a pic of my RS. Would you like to see more pics ?
Be happy to share more pics.[/QUOTE]

I do I do, that's a fuckin sick car

 

Only reason I'd ever take out a loan against my house is if one of my kids needed a life saving operation that insurance wouldn't pay for.

 

I financed 100% through Sberbank for 72 mos. My payments are zero. In exchange of cash I do favors for my co-signer. It’s good to be a politician.

Just kidding

I pay cash or pay off in first year. I like to keep my overhead down. Makes life less complicated.

Bought a 19 in February. I still owe $10k. Will pay off in the next few months w/o dipping into savings. Sold my 17 that was paid for. Have a newer SUV that is paid for.

After payoff will have zero debt other then mortgage. Now that the mortgage interest deduction is worthless. Going to downside and pay cash for next house.

 

all of you that paid it off faster than you signed up for, did you notice it hurt your credit?

 

I actually only saw a 1 point drop but I know for most people it will have a negative effect.

 

Yes, I think my credit dropped from 800 to 780 when I’ve paid loans off early. But It always drifts back up. When I applied for a mortgage the bank told me transferring funds from savings to checking once a month hurt my score. I told them I’m not negotiating if you ding me I walk.

 

Yep, mine dropped 1 point to 803

 

Mine dropped almost a 100 points by paying off a truck, boat, and my student loan.

 

Checking and saving accounts are not on credit reports. It was probably something else they were looking at or using to determine the rate they offer you.

To make things even better, they use different scoring models for mortgages, auto loans, etc and none of these models are the ones you see for free. One of the ones used for my mortgage was an 830 out of a possible 836 max, yet using any of the free ones I look at usually has me in the 750 to 790 range.

 

Banks play games. In the SAME day I applied to BOA they use Experian credit score 824. Few hours later I call USAA and they same credit scoring agency and they have me at 799. Their best rate is from 800 and up. So I missed their best rate by 1. It’s crooked.

 

Likely different scoring models used. This is a screen grab from myfico.com. Models weight factors differently. Banks aren't beholden to a specific model from what I know. And not all credit agencies receive the same info. It has to be reported bu the creditor so each report can vary. They shouldn't much, but one factor that usually always varies is inquiries. A lot of creditors won't run an inquiry on all 3 when you apply for credit so you may have 4 on one, 3 on another, 1 on another.

 

They were looking for negotiating leverage.

If I didn’t have a wife and dogs I’d be fancy homeless.

This a great topic. The personal debt level is at an all time high. Same with Corp debt.

 

@raidercraig :)

 

Not as soon as I originally planned but paid my truck off last month. Took me 2 years and 7 months roughly. Just wanted to revive the thread with the progress as it was a big goal of mine.

Edit: cant believe that original post was nine months ago!

 

Yep bought my 2019 in October of 2019 and now owe less than $10k. Trying to reduce the interest I will pay. And my checking account only pays 1% so at 4.54% on the truck loan I'm saving some money.