How much do you owe

PIF 2012..first mod, 2010. Between the stereo and the plow alone, $7500

 

Prinsu roof rack, Combination console vault, Pop n Lock, entirely new audio system using factory radio, custom bed A/C cooler for the dogs, added a OEM rubber bed mat.

 

Mine ended up being $2300. What did you go with?

 

Snugtop Rebel. I would choose a Leer if I had to do it again. The fiberglass work is awesome, but the side and front windows are crap.
I had to warranty replace two of them already, and it took 4 months to get them in.

 

2013 Modded immedeatly but paid off at 15k miles now at 25k

 

I ended up going with ARE just because I wanted the toolbox option with the flip up side doors. I must say, their customer service has been top notch. The toolbox was installed without the necessary support from the manufacturer, and they have helped me out a ton with it. Making a completely new shell for me!

 

Yeah I would consider ARE also. I just thought their designs/parts looked dated, but so far everyone has said great things about them.

 

I purchased mine with 4 miles on it. Drove it for about a week, then lifted it with only 300 miles on the od. Tires came the very next week, then a wonderful road trip to Lake Tahoe.

 

I hope you are using the term investment very loosely. Some how i got 1.49% for 72. Toyota financing guy laughed and said well that makes my job easy.

No major mods until the 3yr 36 is up.

 

Investment - "The action or process of investing money for profit or material result" Definitely means material result in this case.

 

I could have paid cash for my truck but I chose to finance just to keep the money in my account and available for other things. I haven't decided to pay it off sooner because it really doesn't put me in a better financial situation in terms of saving ability monthly to not have the loan. So really I don't feel bad about pouring additional funds into mods as I go.
Now, if I couldn't pay cash for the car in a second if my life goes downhill #1 I wouldn't have bought it but #2 I would feel differently.


I would have a hard time spending money on a truck that could be taken from me tomorrow if I failed to make payments. Just me though. Not saying anything about how other people chose to live their life.

 

Didn't see that anywhere in any of my finance classes....

http://www.investopedia.com/terms/i/investment.asp
What is an 'Investment'
An investment is an asset or item that is purchased with the hope that it will generate income or appreciate in the future. In an economic sense, an investment is the purchase of goods that are not consumed today but are used in the future to create wealth. In finance, an investment is a monetary asset purchased with the idea that the asset will provide income in the future or appreciate and be sold at a higher price.

Anyways good luck with that!

 

Original loan started at 24k in Jan 2014. lately I have been throwing $1400/mo into my truck payment. It will be paid off in July of this year (2.5 years on a 5 year loan). Can't wait to be done with it.

Mods to date: Shell, weathertech mats, OEM bed mat.

 

IEhhh I don't know, a 2nd Gen might be an investment. The 3rd gen may have made people willing to pay top dollar in the future for a classic Tacoma ;D

 

I'll be modding mine soon I have the bumpers, rocker sliders, roof rack led bars, warn winch,recovery kit and suspension. I'll be keeping the truck for s long time

 

If you believe that i got some ocean front property in Arizona ....

 

8k owed. Around 5500-6k added or here ready to bolt on.

I'll add that I sold my Cummings for the down and to furnish my new house with what I had left in savings. Divorce, house and toy all happened within 4 months and I don't live in a bachelor pad so my boys have a comfortable place. Otherwise it would have been PIF off the lot. I don't like debt either.

 

Even though I added the shell/mats/bed mat I do agree with this above statement for the most part. I'd have a hard time doing heavy modding on a truck I didn't own. Maybe that comes with age. If you asked me 15 years ago my answer may have been different.

 

$0 owed. I don't buy vehicles I can't pay for out the door; I dislike debt. Immensely. Especially on depreciating items.

I've done several fairly inexpensive mods, but they do add up. I mod for convenience, comfort and helping me accomplish what I want to do with the truck first. Then some minor cosmetic things. For me the truck is a 20 year piece, so there will be 'upgrades' when OE wear parts need replacement. Some folks would consider those mods. I don't, 'cause I have to replace the part anyway. (like suspension bits, brakes, etc.)

The last car I sold I probably had close to the same $ in mods as I sold the car for. But it was a 17 yo car I'd owned over 12 years, 70k miles of use and several dozen SoloII/HPDE events. I considered it entertainment money.

Of course everyone knows mods don't automatically add value, particularly in the eyes of an insurance adjuster. Keep in mind that you can have your agent list parts (and usually raise your premium) that you add to protect them in case of an insurance 'event'.

 

The real question is does anyone owe more than their truck is worth (underwater).

I suspect not since these trucks hold their value so well!

Having a loan sucks but it sucks ten times worse to be underwater.