How in debt are you with your Tacoma?

Tongue in cheek, yo.

 

A touch of financial advise from me (no charge): Debt is a complex topic and a real reality for many Americans today unfortunately. There are basically two types of debt: Good debt, and Bad debt. Good debt is a debt for something can produce value. Bad debt is a debt for something that can lose value. Guess which type an auto loan is categorized as? And vehicle mods?

Yes, those are both examples of bad debt.

Anyway, we can't all be good at managing our finances. Now forget all this an go ahead and have some fun in your Tacoma

 

$47,000...planning to be done with payments in 5 years

 

That must be one sweet truck

 

X2

 

47K for a Taco? wow pics?????

 

You bet it is. That's 47k CAD. In freedom units it would be less..

 

Media on profile page

 

been paid off for 3.5 years now, don't miss the payments one bit

 

You mean monopoly money?

 

$35K USD

 

that depends on rates and what you do with your non-borrowed money

 

0. Paid off years ago. Mods come out fun money savings.

 

True. That's why it's a complex topic Each situation is different based on the values of each investor and the opportunities available at the time, tolerance for risk/loss, etc. But still the stated generality can be applied generally that a mortgage is a good debt and an auto loan is a bad debt. We know certainly there can be individually different outcomes to those... many people have lost money on a home, but generally over the very many cases of home ownership they have gained money.

I think the point I was trying to get out was that some caution and planning is good when taking on debt.

 

gotcha. nice truck. don't like the headlights but that's just me.

 

Just bought an 06, financed about $10k on a truck that's worth about $13k-$14k (book value anyways) with 1.99% financing. Will cost me a whopping $400 in interest over those 4 years.

 

$0

never live beyond your means

 

2014 DCLB Sport
10,048. Owed

 

31k over 5 yrs at .75%.

When I bought my truck I was told 0% did not apply to Tacoma's so I went through my CU.

 

Paid cash for truck and all mods.