Is your Truck paid off?

Hey guys, I was talking with a few friends today and I was astonished at how many people finance nowadays. Which lead to the question of how many third gens were bought with cash by the customer or through financing

 

Paid for.

 

This astonished you? Financing for a vehicle? I have so much to catch you up on. Right here in front of me, I have ranch dressing in a SQUEEZE BOTTLE.

 

Welcome to Tacomaworld. Read the news https://www.consumerreports.org/car-financing/more-people-are-taking-out-long-term-car-loans/

 

Squeeze bottle. I call bullshit.

 

How about who gives a shit?

 

I can make more than the 1.99% APR by keeping my cash and investing it elsewhere... Sometimes financing is a good thing if you can leverage that cash in ways that are more profitable to more than outweigh interest rates so long as you have excellent credit...

 

Never

 

Yep. Having a pile of cash to buy a truck is nice. Taking that pile of cash and using it to make you an even bigger pile of cash is nicer.

 

Cash

 

Agreed...A minute of my life I'll never get back!!!

 

Lets look at the fact that I am paying 1.9% interest on a vehicle that is not going to lose $5k driving off the lot. Two year old Tacoma's are as much as new one.

No depreciation plus low interest rate. My 401k thanks you Tacoma.

 

I'm astonished to see all those who didn't finance. Who just has $40k+ cash just laying around?! I sure as hell don't!

 

I hate to owe anybody anything. Especially with cash savings interest rates at next to nothing.

The real shocker to me was finding out how long folks are financing autos these days. If you are financing negative equity from your depreciating asset into another depreciating asset for 60-96 months......well, they have you trapped in a hard to exit situation.

 

I financed through a local credit union @ 1.99 and made payments for about 6-8 months -- then my wife totaled our car and I didn't want two payments, so I paid-off the truck.

 

61 years old, been working since freshman year of high school, both wife and I work, house paid off, kids are grown, paid cash for my Taco, life is good.

 

My truck is paid off.*

*this is me replying to this post from the year 2025*

 

This would be true if we bought a Nissan. Tacomas have the highest resale value of any vehicle. Little to no depreciation. I get to have my $40k work for me in a good index fund (making 13% this year) over 6 years instead of starting from scratch.

 

2030 for me. I need to pay off my mods. Stupid Tacoma World making me mod.

 

What I'm more concerned with is; Does Toyota ever put the Tacoma/Tundra/4Runner on special with 0% APR. I was just thinking to myself I don't think I've ever seen those vehicles on any kind of 0% special