Is your Truck paid off?

Thanks! Yough land it is..

 

Is 6 months the standard to good credit?

 

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

 

That is exactly correct, crypto currency does not actually exist. It is fiat currency that isn’t backed by a government. It is just a number on a screen. Be careful with that shit, I think a lot of people are going to get burned hard core on it.

 

Idk I'm just saying some people only get the minimum to try and save money. I wouldn't especially on an investment that you can crash.

 

I agree purchases have a cap they will only cost you so much one trip to the hospital can wipe everything you have out and then some and there isn't a limit.

 

The main reason for posting this thread was just to see how others leverage their assets and liabilities. There is no wrong answer per se, its just intriguing see everyone's plan of action towards bigger purchases and to see how forward thinking many of the members are. You can win either way whether you finance it or pay cash.

 

I have cash waiting for an '18. I know they WANT you to finance -- and I'm not opposed to financing part of it, but I'd much rather pay in cash and have no payment. I'm still paying on my wife's van (albeit, only for another year or so).

 

My theory is this...

All Toyota vehicles are generally regarded as great vehicles and as such are good-selling, popular vehicles...

From a no-frills Yaris all the way up to a fully loaded $80K Land Cruiser...

Some of the entry-level vehicles are rather mediocre in terms of performance and interior fit-and-finish, but they are dependable, reliable vehicles. Even the Sienna minivan, in my opinion, has rather mediocre interior quality. Just go to any Toyota dealer, gain access to a new Sienna, and knock on the dashboard a couple times. Just feel that hard plastic...

Anyway, the goal with this 0% financing is to get people with good credit in the door to buy their entry-level vehicles, like Corollas, Camrys, RAV4s, etc...

4Runners, Tacomas, and Tundras are such hot commodities that Toyota, including its finance company, wants to make as much money as possible on these vehicles.

As I said before, my cousin got 0% financing on a 2017 RAV4, and one of my coworkers also got 0% financing on a 2017 Corolla iM...

My dad bought me my 2010 Tacoma regular cab as a present back in September 2009, when I got my learner's permit. After his trade-in (a 1996 Nissan Pathfinder SE 4x4 that he'd owned since new) and negotiating, he ended up paying just under $15K out the door for the truck.

If I remember correctly, my dad put like two grand down and financed the rest, at 2.9% APR. My dad has absolutely perfect credit, and even at a time when the economy really sucked, he couldn't get 0% on a new Tacoma! I think the loan was for 4 or 5 years, but he ended up paying the truck off over a year early, sometime in 2013. The title has been in my name since December 2016.

So yeah, I don't think Toyota offers 0% financing on their trucks and the 4Runner because they are so damn popular...

 

Toyota doesn't ever offer 0% on the Tacoma or 4Runner they move them fast enough they don't have to. I have an 830 credit score and the best Toyota could give me was 3.1%. My advice is never finance through the dealer you can find much better rates at credit unions.

The dealer has the ability to play with the numbers. All the numbers. 1st negotiate a purchase price then negotiate your interest rate. Never negotiate monthly payments. I say never finance through the dealer is because you end up paying the middle man. At 3.1 % with great credit figure 2% will go to the finance company and 1.1% goes to the dealer. I was able to go to my credit union and was approved for .9% that rate was the only reason I didn't pay for my truck cash up front. I had too hard of a time parting with the money. Instead I put 10k down and financed the rest leaving the money I set aside still available instead of tied up in a truck. In my mind .9% was the cost of conveniently keeping money in my bank.

 

I guess its a case by case scenario but when I purchased my 16 tacoma I financed through the dealer at 1.9%. My credit union I always deal with offered at the time I think 2.9%.

 

Hmmmmmmmmmmmm

 

0.9% through Toyota. I'm as debt-averse as they come (paying my mortgage off 10 years early) but that's a no brainer rate.

 

My dad got his 2013 Honda Pilot Touring 4WD brand new at 0.9%

 

Lots of humble brags. "surprised how many finance!"

Yeah. Okay guy. I'm sure it's a real shocker for you.

 

No they don't. Confirmed by my dealer down the street.

 

The skeptic posts on here that people actually pay cash for a vehicle is funny. There are a lot of people incredibly addicted to creating debt. There's also a group who is equally against it.

 

Nothing wrong with avoiding debt. That's a great way to live. Also nothing wrong with understanding how to leverage debt and increase your bottom line. 60 months at 0.9% means Toyota is charging you an insanely trivial amount of money for the loan. Even poor returns over the 5 years still net you several thousand dollars on your $30k+ initial investment. Excellent returns like we've been having the last couple of years may even offset the depreciation on the truck since these things don't lose all their value in 5 years.

I feel like this conversation should just be a sticky in every single car forum on the internet. I know I've seen it 100 times.

 

It’s all part of your magination scro

 

Not sure how increasing dollars, in my bank account, is my imagination...