What would Honda have to do to Snag Tacoma Buyers

Troof! Wholeheartedly agree.

 

yep. Only ass on the line is your own. But i've seen people make some terrible financial decisions(a friend of mine) with cars. I told him my opinion, then just sat back and watched the hole get dug. Nothing i could do...

 

School's First FCU. You need to work at a school, though

 

that's awesome dude. thought we did good with 1.8% My only let down on the new
Taco was the shitty dealershit we used.

 

Just because you've "seen it" doesn't mean everyone is financially irresponsible.

 

They can't afford them but buy them anyway. Kind of like $250 per month mobile phone plans.

 

when the hell did I say that? Lol

 

I guess that's what I thought you were implying

 

You are wrong.
As I posted, a nicely equipped 4x4 King Ranch can be spec'd at 55K msrp.

 

No, as Sterdog said I don't want to turn this into a dick swinging contest BUT if you buy with cash when there are significant cash rebates then it makes a lot of sense.

When I bought my Tacoma they had a 2K rebate for cash but financing was not 0% if I decided to go that route. I've seen some manufacturers offer 10 to 12K off for cash deals on full size trucks.

Yes, when there is no formal cash rebates offered plus you can finance at a very low rate like you got then financing does make sense.

Regardless of the above. Unless your truck is paid off then the bank owns it. Miss your payments and you'll soon find out.

 

Yes like my buddy who in his 20's like nice clothes on a minimum wage salary. He was paying one credit card off with another.

If any Americans want a good deal on a used vehicle then come up to Alberta where the economy has tanked due to oil prices. There are a lot of people who lived beyond their means and are now short on money willing to make a deal. Coupled with the amazing exchange rate on the dollar and it will be like when I went south in 2008 to buy a near new loaded xterra for under 20k all in when they sold up here for over 40.

 

The point of financing is not to buy something you don't have the money for.

The point of financing is to keep your cash so it can work for you elsewhere.

If you finance a truck, you should always have the loan payoff amount available in cash. But that cash can be elsewhere, such as a CD, doing work, or you can just be holding on to it for a rainy day scenario.

If you hold a large loan with no reasonable way to cover the loan amount in cash, you are an idiot.

This is why super low interest (or 0%) loans are the only ones worth holding, because you are in theory able to make more money off the cash you hang on to than you owe in interest.

 

You think most with vehicle loans have the cash reserves to pay off the note?

 

so I should never buy a house

 

Of course not. But they should. That's how it's supposed to work.

 

^this.

Plus, and this will sound mean, but not everyone is fortunate enough to make enough money or have worked long enough to bank 40K to buy a truck outright or a house for 500K... financing is basically what keeps the modern economy running like it or not.

 

financing is fine if you have "skin in it" (substantial down payment).
sadly, many feel they are entitled to own "stuff" with no cash in the deal. It's partly what caused the housing bubble/burst in 2007.

 

Depends how you look at it. They generally say that owning a house is good debt as typically the house appreciates in value. Same can be said for education IF you enter into a field with a good chance of finding a good job.

Most vehicles I know depreciate as soon as you drive them off the lot. Now if you need them for a successful business then that's a different story.

 

Really?

I wonder what would happen to the economy if all these "idiots" stopped buying vehicles they otherwise wouldn't have bought living in your world.

You do realize the average new car price isn't that far off the average per capita income...right?

 

Who says?