I may not be able to afford my 2017 Tacoma TRD OR LB

There are a lot of really reliable new vehicles for half what you paid for the truck and mods.

It's your money and life.

 

Jeez man, $800. my mortgage isn't too much more than that!

 

I'll buy everything on your bench for $50.

 

Here comes the bro advice. If you are only at a 60month, hit up your local credit union and refi for an 84month.

While you're at it, refi at a higher loan amount than you owe, cash out, and then finish all your mods. Pretty much a win win.

 

Man...

 

I lived out of my truck for 6 months when I was 19. I showered at the gym and bought cheap pre-made sandwiches at the grocery store. I saved some $$$ and I held on to the truck for a long time after that.

It wasn't the worst thing that has ever happened to me, but I didn't have a family or kids at the time.

 

lol no joke, all these retention ponds here in FL start looking real inviting

 

I don't know you OP nor your situation, but $800/month - I would get out of this loan. That is a mortgage

 

$800 a month! I know people driving luxury cars and not paying that much per month for them. That's insane.

 

not to derail, but did she get caught? I work in car insurance and love hearing these stories.

 

where you are at. where i am at you couldnt rent a studio with no bathroom for that much. all perspective.

 

i was getting close to saying that this is a public forum.....

 

unfollow me

 

Considering it's a 60mo on 45k and 2%? That's $788, so $800 is pretty much accurate? Just because someone pays something *lower* monthly doesn't mean it's "cheaper"

 

SW New Hampshire. When I lived in Seattle ~10 years ago, it was tough to find a decent rental for that much....

 

sorry, but, coming from my inner finance nazi "you screwed yourself".

Now that we have that out of the way, I would just hold onto the truck. The bath isnt worth it. Its not a pretty picture - Lose the truck, still owe on it, be in a vehicle you dont want AND have to pay for that one too.

Just ramen noodle it for the next 6mos-1yr. Then try a re-fi to at least lower the payments from "no lube" to "spit on it first". Yes, you will pay on it longer, but, these trucks last (unless you are part of the 1% of the unfortunate ones with a lemon on TW), so drive it into the ground.

 

It is insane to see how the prices on these trucks pretty much doubled between the 1st gens and 3rd gens.

Car loans suck...I don't think I ever want another one again. Too painful

OP: if I were in your shoes...I would not mod the truck until I paid it off. Sell the parts that you can now and use that money for extra payments. Being several payments ahead of schedule should give you a breath of fresh air.

 

make a payment every time you get paid.... if you get paid weekly, pay 200, if you get paid bi weekly, pay 400. trust me.

 

It's a lot for a car payment for sure, but $800 a month where I'm from might get you a garage to park your truck in or a tent in the park The truck sounds pretty nice to me

OP - in all seriousness, only you can decide if the truck is worth it. Do you need the mods on the truck for it to do what you need it to do or is it to make you like it more and/or keep up with the Joneses?

If you sell the truck, I'm assuming you still need another vehicle, so you buy an older Tacoma and have a lower payment. Does that just free up more cash for you to do more mods on that truck or are you using the money elsewhere (e.g. living expenses, investments).

I've been there before when I was in my early 20's and it cost me a lot of money trying to continuously mod my car, to only have it written off and lose every penny on the damaged mods that couldn't be removed.

 

^^^^I agree.^^^^