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The dealership keeps callig.

Discussion in '3rd Gen. Tacomas (2016-2023)' started by Queipo37, Nov 3, 2022.

  1. Nov 3, 2022 at 1:26 PM
    #81
    saint277

    saint277 Vigilo Confido

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    FYI S&W M&Ps are better than both of them;)
     
    50Buck likes this.
  2. Nov 3, 2022 at 1:55 PM
    #82
    Lambo9418

    Lambo9418 Well-Known Member

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    OP, I think what you need to focus on at this point is that you have already absorbed a substantial sunk cost with respect to your current vehicle. You financed 100% of its purchase price (hence your big monthly payments) and the vehicle has already taken a big hit against its value as a result of depreciation (hence your still small equity amount due to high loan balance remaining vs. current market value). These things have already happened and any move you make from here won't change that. Trading into a new truck is only going to result in you eating another big depreciation nut. Why would you want to do that to yourself?

    Instead, if the current payment is not sustainable, perhaps consider either:
    1. refinance your current loan balance for a longer term at or as close to current rate as possible
    2. trade out of truck into any reliable vehicle that can be had for the amount of equity you can net from truck and have NO payments going forward. Then, start making a monthly payment to yourself to build up a fund that you can use down the road to make a meaningful down payment on a new truck, or if you can hold out long enough to just pay cash for new truck

    JMHO
     
    TheDudeinPhx likes this.
  3. Nov 3, 2022 at 1:58 PM
    #83
    2021SR5V64WD

    2021SR5V64WD Well-Known Member

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    Right - I keep getting Emails and snail-mail information about how 'Now is the time to Refi'... LOL ... I'm currently at something like 3.2% on the house and they go on and on about how great it will be to Refi at 7%.... pffffft....
     
  4. Nov 3, 2022 at 2:01 PM
    #84
    maxmk8

    maxmk8 Well-Known Member

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    Great time for the lenders
     
  5. Nov 3, 2022 at 2:14 PM
    #85
    Junkhead

    Junkhead TRDude

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    Prince George, BC
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    I was paying 1k a month for about 3.5 years. Super annoying but my truck is paid off now.

    I hate car payments! The only debt I’m ok with is mortgage.
     
    grogorat and TheDudeinPhx like this.
  6. Nov 3, 2022 at 2:14 PM
    #86
    50Buck

    50Buck Living rent free Timmy the Tool's head

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    :rofl:
     
  7. Nov 3, 2022 at 2:18 PM
    #87
    maxus

    maxus Well-Known Member

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    Wouldn't argue that point. I was narrowed down to an M&P Shield in .45acp, or the Glock 36. The 36 won out, purely on price (gunbroker, $365). It can be a handful, but any compact unit in .45 is.
     
  8. Nov 3, 2022 at 2:21 PM
    #88
    saint277

    saint277 Vigilo Confido

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    My preferred flavor is 40sw. Just really don't like like Glock triggers, even with an APEX kit my glock 22 is worse then my brothers M&P40 2.0 and my dads M&P9mm.
     
  9. Nov 3, 2022 at 2:22 PM
    #89
    joshuajayg

    joshuajayg Well-Known Member

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    After reading this (and adding my $.02), I just re-evaluated my monthly budget and added 150% to my monthly truck payment. Even at 1.9% interest, I don't like having it hanging over me. Buckle down, pay as much as you can, and enjoy your quality vehicle. The grass isn't always greener over "there."
     
  10. Nov 3, 2022 at 2:22 PM
    #90
    Kyebasse

    Kyebasse Jd

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    TF....$825?
     
    TexasWhiteIce likes this.
  11. Nov 3, 2022 at 2:30 PM
    #91
    rcsez

    rcsez Well-Known Member

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    Yea, they say your payments will be lower, but across multiple refinance offers on cars and homes, I've found out that their numbers magically end up being higher than they claimed in their estimates, and they chalk it up to "Well we can't be exact until the very end!" They're in the business of making money for themselves, not helping you out.
     
  12. Nov 3, 2022 at 2:48 PM
    #92
    Buck Henry

    Buck Henry Well-Known Member

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    $825 per month for a truck payment; holy shit brother! My first house mortgage payment was less than that. Remember, they can pretty much make your monthly payment whatever you want it to be by stretching the loan out further. I get that many have no choice but to determine the affordability of a vehicle by how much they can afford to pay per month. But be careful that you are not adding thousands more to the total cost of the vehicle in the form of interest paid to the lender.
     
  13. Nov 3, 2022 at 2:55 PM
    #93
    picturethis

    picturethis Well-Known Member

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    This, never trust the Stealership!!!!!
     
  14. Nov 3, 2022 at 2:57 PM
    #94
    picturethis

    picturethis Well-Known Member

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    Saw a Tundra at my dealership for 90k, crazy!!!
     
  15. Nov 3, 2022 at 3:35 PM
    #95
    RIX TUX

    RIX TUX no ducks given

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    [​IMG]
     
  16. Nov 3, 2022 at 3:56 PM
    #96
    maxmk8

    maxmk8 Well-Known Member

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    Y’all are too focused on a “monthly” payment. You can have 1 monthly payment of 35k and have it be a great deal or 100 monthly payments of $400 and have it be a terrible deal.
     
    Brex69 and 50Buck like this.
  17. Nov 3, 2022 at 4:02 PM
    #97
    Boco10

    Boco10 Well-Known Member

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    $825 Damn. I just made my first payment a week ago. It looks like I can make a 1-time payment made directly on interest. Is this worth doing? I owe roughly 24k and interest is 2.49. I sold all of my after-market parts and have an extra 2k.
     
  18. Nov 3, 2022 at 4:06 PM
    #98
    TexasWhiteIce

    TexasWhiteIce Well-Known Member

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    OP, that is a pretty big monthly vehicle payment. You must make a pretty big salary.

    They say your car payment shouldn’t be more than 8% of your take home pay, so by my calculations you take home $10,312/month, which before tax is a $165k a year job.
     
  19. Nov 3, 2022 at 4:15 PM
    #99
    TheDudeinPhx

    TheDudeinPhx Well-Known Member

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    Goodyear, AZ
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    I have a 2.25 30 year Va loan and get calls saying they can save me money. For fun I say go ahead ends up doubling my payment. Umm no thanks.
     
  20. Nov 3, 2022 at 4:28 PM
    #100
    Stewart

    Stewart Well-Known Member

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    OR Wheels, cruise, intermittent wipers, carhart seat covers, FT-7900R
    There is not a Taco made that is worth over $800/month payments.
     
    07RedTacoDawg likes this.

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