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How much do you owe?

Discussion in '3rd Gen. Tacomas (2016+)' started by JCOOR, Feb 24, 2019.

?

So how much do you owe on your truck?

  1. Zero! I’m rich bitch!

    39.6%
  2. A little

    20.8%
  3. A lot

    35.6%
  4. I’m so ass backwards it ain’t funny

    3.6%
  5. Nothing I got rid of that POS

    0.4%
  1. Mar 13, 2019 at 8:00 AM
    #301
    Dkurtz42

    Dkurtz42 Bill Hwang

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    David
    Barberton, OH
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    4” RC lift 20 x 9 fuel assault wheels 33x12.5x20 Trail Grapplers Upgraded Audio w/ 2 -10” JL subs
    $18,171.45
     
    StayinStock likes this.
  2. Mar 13, 2019 at 8:02 AM
    #302
    95tojo

    95tojo Roamer

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    So IL
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    '19 Cement Grey TRD Sport 4x4 6MT

    A little Dave Ramsey coming out there. haha :thumbsup:
     
    St1fler likes this.
  3. Mar 13, 2019 at 8:06 AM
    #303
    St1fler

    St1fler Well-Known Member

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    HAHAHA ya he does say that a lot. I really didnt follow much from him, aside from "pay the house off". I am not a fan of snowball reduction but hey if it works then so be it!

    Sorry OP {back on topic}
     
    95tojo likes this.
  4. Mar 13, 2019 at 8:07 AM
    #304
    Sharpish

    Sharpish Well-Known Member

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    Brian
    Victoria, British Columbia, Canada
    Vehicle:
    2012 Tacoma TRD OR 4x4
    Just paid mine off two weeks ago Thursday!

    2012 OR lease return I picked up in 2015 with 35k miles. I got a 72 month loan to preserve my cash for an apartment down payment, and good thing too because I was fishing pennies out of the couch to reach 20%.

    Paid it off in 39 months and does it ever feel good! A little more breathing room.

    But .... now that's it's paid I've been curious about the 2020 Army Green Pro ...‍♂️
     
    St1fler likes this.
  5. Mar 13, 2019 at 8:09 AM
    #305
    JCOOR

    JCOOR [OP] Well-Known Member

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    Certainly don’t apologize to me. I derail shit all the time
     
    95tojo likes this.
  6. Mar 13, 2019 at 8:35 AM
    #306
    Inferno!

    Inferno! Well-Known Member

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    Here and there....
    If you paid mortgage interest last year on our house, then you didn't pay cash for your house. You financed it and paid it off, like the vast majority of people. Not judging, I was just wondering why anyone (that isn't dripping with money) would pay cash for a house, it doesn't make financial sense. On the other hand, financing the house and paying it off does. That is where I am headed too. :)

     
    VinDieselJetta likes this.
  7. Mar 13, 2019 at 8:41 AM
    #307
    JCOOR

    JCOOR [OP] Well-Known Member

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    I am far from dripping from money but I did pay cash for my home and it made perfect sense in my situation. Why wouldn’t you want no mortgage?
     
    St1fler and Dkurtz42 like this.
  8. Mar 13, 2019 at 8:52 AM
    #308
    Inferno!

    Inferno! Well-Known Member

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    Here and there....
    Because you have to pay your housing expenses prior to paying cash for a house. So, it doesn't make sense to pay rent while saving $400-500k in cash to purchase while the home your wanting to buy is inflating in value. When you count mortgage interest tax write off, it can be in many cases less expensive to have a mortgage than rent a home. I.E., the last house I rented was $2,350 a month and my current mortgage is $2,500 a month (mortgage, taxes and insurance). With mortgage tax right off, it is less expensive for me to have a mortgage than to rent. Therefore it is easier to pay off the home having bought it with a mortgage than save cash to buy the home while renting. Not to mention the steep value that my house has gone up, would have missed that if I stayed renting to save cash.

    If you buy a house with someone else's money, then yeah I would pay cash for sure.

     
    beriman10 likes this.
  9. Mar 13, 2019 at 9:01 AM
    #309
    JCOOR

    JCOOR [OP] Well-Known Member

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    I did things a bit different but yes I agree paying cash doesn’t work for everyone. We made great sacrifice to be mortgage free and I have zero regrets
     
  10. Mar 13, 2019 at 9:04 AM
    #310
    cstern1

    cstern1 Well-Known Member

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    Did I see someone say $23k in mortgage interest last year? You must be talking a total payment well over $3k per month. Different leagues.
     
    Dkurtz42 and JCOOR [OP] like this.
  11. Mar 13, 2019 at 9:06 AM
    #311
    JCOOR

    JCOOR [OP] Well-Known Member

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    If I could afford that I sure as held wouldn’t have bought a Tacoma
     
  12. Mar 13, 2019 at 9:09 AM
    #312
    cstern1

    cstern1 Well-Known Member

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    I don't even pay that much in a year in mortgage + escrow and the Tacoma
     
  13. Mar 13, 2019 at 9:10 AM
    #313
    Inferno!

    Inferno! Well-Known Member

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    Here and there....
    That is great for you! I realize I might not have answered your question directly. Yes, I would prefer no mortgage! It's a path to get there. I was financially wiped out to zero about 7 years ago, sold everything including my house. Only purchased a home again about 2.5 years ago. If we buckled down, we could probably pay off the home is 3-4 years. And that is our basic plan. Strange things happen however along the way. Stage 4 cancer popped up and the doc's say I'm on the way out, so things like buying a new Tacoma, 5 trips to Hawaii in 4 years, trip to France, Israel and heading to Italy in September have taken much of my "house pay off" money. :)

     
  14. Mar 13, 2019 at 9:19 AM
    #314
    Inferno!

    Inferno! Well-Known Member

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    Here and there....
    How is it that you can pay cash for a house and owe money on your vehicles? Why not pay cash for your Tacoma and 4Runner like you did your house?

    Us self reliance folks need to know. :D

     
  15. Mar 13, 2019 at 9:22 AM
    #315
    RocTaco

    RocTaco Habitual line stepper

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    Pete
    Rochester NY
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    Right? You can add in gas and insurance, and a couple other things before I hit that much lol.
     
  16. Mar 13, 2019 at 9:24 AM
    #316
    TacoBella

    TacoBella Well-Known Member

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    Tom
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    2016 Tacoma (SOLD) Ford Ranger Lariat purchased
    Running boards SpareBumper AVS Bug Deflector. TruXedo Lo Pro
    We are debt free so we lease a CRV and I will be leasing a Ranger or Tacoma 2020 model. We never buy any vehicle that we cannot afford to pay off in 36 months. We will be buying out the Honda Lease because it will be thousands under the retail cost of a similar model.

    Usually, pay cash on my side of the garage but lately, the money has been doing well invested so I am not as inclined to pay cash. Especially if the Rate is less than 2%

    The only annual fixed expense we have are Insurances. I will see how investments are doing after the Summer when I plan to buy. As well any low-interest Incentives that may or may not be available
     
    Last edited: Mar 13, 2019
  17. Mar 13, 2019 at 9:25 AM
    #317
    cstern1

    cstern1 Well-Known Member

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    KCK
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    I only need about $39K to pay for everything for the year. That even includes some crap I don't need. I could probably survive for $33K after taxes.
     
  18. Mar 13, 2019 at 10:05 AM
    #318
    Dkurtz42

    Dkurtz42 Bill Hwang

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    Barberton, OH
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    4” RC lift 20 x 9 fuel assault wheels 33x12.5x20 Trail Grapplers Upgraded Audio w/ 2 -10” JL subs
    Financial threads are my favorite.
     
    Hobbs, VinDieselJetta and StayinStock like this.
  19. Mar 13, 2019 at 10:29 AM
    #319
    Bullnettles

    Bullnettles Well-Known Member

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    Jared
    Houston
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    Mine was a bit different. I had extra to put towards the down payment and did an amortization schedule of that money @ 8.5% vs knocking back the DP more on a loan @ 4.5%. At 60, then calculating loss on interest (which you then write off). Made more sense for me to keep the nest egg and sell the house if true terrible times come. No worries on brags, I think we all do things we're proud of and paying off a house is something you DEFINITELY should be proud of. Playing the interest battling game gives me hives, but the math checks out and I'm trying not to follow emotion on it. It's tough, though. I get anxiety from it. 2.5 more years of this...
     
    St1fler likes this.
  20. Mar 13, 2019 at 10:30 AM
    #320
    PreCummerTRD

    PreCummerTRD New Member

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    Mike
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    2001 Grey Tacoma TRD
    $0.00 but if anyone wants the Volvo s40 I still owe on now that I finally graduated to my 01 TRD hit me up :fingerscrossed:
     
    King Kermit V likes this.

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