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Pricing question...

Discussion in '3rd Gen. Tacomas (2016-2023)' started by myke232, Nov 12, 2015.

  1. Nov 13, 2015 at 8:25 AM
    #21
    TacoBella

    TacoBella Well-Known Member

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    LOL Yeah.....I think those 72 month loans are heinous. Seven years...That's half of a preferable mortgage length.

    They convinced you to go seven years so they could rape you. Refinance that loan and screw them.

    NEVER buy "payments" Buy the vehicle.
     
  2. Nov 13, 2015 at 8:28 AM
    #22
    PJnc284

    PJnc284 Well-Known Member

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    Yup the old "what payment do you want" game that the dealers love. They can give you any payment you want, might just take you 50 yrs to pay it off. I wouldn't bother with refinancing at one of the big banks either as you're likely better off hitting up a credit union.
     
  3. Nov 13, 2015 at 8:29 AM
    #23
    VangaSTL

    VangaSTL Well-Known Member

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    Oh don't worry I learned my lesson. That's why now I'm preaching it. Everyone thinks that MSRP is the cost of the vehicle. No no, I really wish I had shopped around for an interest rate and did half as much research as I did on the Tacoma itself. Don't get me wrong I love the truck and I still bought it even with horrid interest rates. Just wish I could do things different. Oh well.
     
  4. Nov 13, 2015 at 8:30 AM
    #24
    VangaSTL

    VangaSTL Well-Known Member

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    Ya but with a credit union don't you have to be a member?
     
  5. Nov 13, 2015 at 8:32 AM
    #25
    Doug007

    Doug007 Well-Known Member

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    7 years = 84 months! Yikes! At least Tacos hold their value. Most vehicles would be ridiculously underwater in the first few years of that loan.

    If you can't pay the thing off in 5 years you really can't afford it. The banks will be happy to make it happen though if you promise them your wages for the next decade. It's like a deal with the devil.
     
  6. Nov 13, 2015 at 8:33 AM
    #26
    Doug007

    Doug007 Well-Known Member

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    You can join PenFed with a $15 donation to a military charity. And they have some of the best rates on everything from mortgages to auto loans out there. Really nice to work with too.
     
  7. Nov 13, 2015 at 8:34 AM
    #27
    VangaSTL

    VangaSTL Well-Known Member

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    Will they re-finance?
     
  8. Nov 13, 2015 at 8:35 AM
    #28
    Doug007

    Doug007 Well-Known Member

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    Yes, something is screwed up with their website right now but check it out later. Penfed.org
     
  9. Nov 13, 2015 at 8:35 AM
    #29
    TacoBella

    TacoBella Well-Known Member

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    I will go further and add for me anyway, If I cannot pay it off in 30 months "I cannot afford it"

    I remember when 60 month loans first came out. They were terrible for equity and one was buried in the red for a long time and could not trade. Many traded carrying over the first loan to the second. Crazy what lenders will allow

    I know people who took them out intending to pay the vehicle off in three years, Problem is , they stop paying the extra amount after a few months.
     
  10. Nov 13, 2015 at 8:37 AM
    #30
    TacoBella

    TacoBella Well-Known Member

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    YES they will. I took a 30 month loan out with them for $28500 at 1.5%. I was going to pay cash but that is cheap money especially with the Fed looking to raise rates next month. I joined with $5.

    https://penfed.org/New-Auto-Loan/
     
  11. Nov 13, 2015 at 8:39 AM
    #31
    VangaSTL

    VangaSTL Well-Known Member

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    Well if I didn't have a wedding to pay for next year, I could afford a 4 year loan. But of course my fiance wants the moon and shit. You should of seen the look on her face when I suggested we just do down to the county clerk LOL :D
     
    TacoBella[QUOTED] likes this.
  12. Nov 13, 2015 at 8:41 AM
    #32
    TacoBella

    TacoBella Well-Known Member

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    Well that sucks. Take your balls out of her purse and shorten your loan!! :thumbsup:

    You will both be starting on better footing.
     
    BlazingInfernoTaco likes this.
  13. Nov 13, 2015 at 10:06 AM
    #33
    viking15

    viking15 Well-Known Member

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    Why dont you try financing with a credit union? Credit unions from my experience tend to work with you more because they want your future business. Banks to me just want as much as they can get from you right now.
     

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