What is your monthly payment? Please read.

And not to paint a negative picture, will you still be able to afford the car note and the apartment if the GF becomes an EX (or loses her job, etc)?

 

Thank you,

 

Very good point. Thank you. U are very right and something to think about definitely

 

How was a 4x2 TRD Sport $42K? I have a fully loaded DCLB Sport 4x2 and it was $36K. Does California jack up prices THAT much?

 

Paying cash for a car these days is kind of stupid. I agree with the sentiment of not over buying, or since he has a company van not buying at all. But if you are dead set on buying a car it's a hell of a lot better to keep your money and reinvest elsewhere unless your credit is just absolute shit. Borrowing at sub 3% is peanuts compared to the potential investment opportunities and power you have with liquid cash. That's why the prices of the trucks are so damn high these days, they're not making their money on the interest like they used to.

 

So around half of a down payment? Sounds like a goal to me!

 

(ate some negative equity on trade in)

The problem with this outlook is that it is entirely dependent on a sustainable income. If anything, borrowing money is stupid because 1.) you are paying someone else for it 2.) Debt is a killer if you can't pay it back even with 0.% interest.

 

How much money do you have in the bank? What are your current debts $? How much do you want to have in the bank in 5 years?

 

2017 Tacoma Limited, paid $37,117, with TTL was just under $40k. Put down $5k, no trade, payments are $634 for 60 months.

 

Gotcha - I forget about that. My folks are upside-down in an RV they can't get rid off.

 

$40k after tax, license and delivery. $34,800 before all that. Yea, California will gut you.

 

Even at 22? Don't get me wrong I love my parents but would you really?

 

It's all about how much you put down / trade in

 

My son is 22, still in college, and still eating my food and wasting my wifi.

He knows a good thing.

 

Why not, most people are finishing school with no jobs or prospects at 22. I would if I was 22 and they let me. I'd save the heck out of all my money

 

As someone similar age, who just went though financing my first vehicle, I recommend figuring out what you can afford, then picking a vehicle to match that. When you pick a vehicle first, and then try to figure out the finances, you let your feelings get involved. Sometimes you end up trying to fit a (very large and expensive) square peg into a (smaller) round hole. The round hole being your financial situation.

There are plenty of monthly car loan calculators out there that will allow you to play with the principle, interest rate, and down payment to see what your monthly payment would be. If you have good credit, don't settle for an interest rate above 2%.

Good luck!

 

I would not move back in with my parents at 22 years old. I bought my first house at 20.

 

It is a want not a need. But I have a 91 that may not last. I could get a used Tacoma.. but you are right. Life advise is better than none at all. Thank you

 

Valid point, and if his income isn't stable I agree 100%. However I would add to that, if that is the case, buying the truck is a bad idea entirely.

 

Crazy to see how high priced these trucks are now. I got mine in 09 base for 24k put 1k down paid 400 month for 60 months