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Who has their truck Paid off?

Discussion in '2nd Gen. Tacomas (2005-2015)' started by Johnson8537, Jun 17, 2008.

?

Is your truck paid off...

  1. Yes

    2,718 vote(s)
    53.1%
  2. NO

    2,121 vote(s)
    41.4%
  3. Someone else paid it off for me... and i can admit it.

    283 vote(s)
    5.5%
  1. Apr 8, 2010 at 9:11 PM
    #261
    LawP

    LawP Well-Known Member

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    Steve
    Rio Rancho, NM
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    I got 0% for 60 months (10K down) and will pay it off in exactly that time. Could I have paid it off? Probably (If I didn't go to Vegas last month :( ), but why? I can see if you messed up your credit because of unemployment or divorce or whatever, and the juice was 10%< and you basically have no choice...but other than that I am at a loss.

    Maybe it is just the times, but at this moment with the economy the way it is, I like to stay as liquid as possible. There are so many more things I can do with the money that I didn't put down, than to spend it on a depreciating money pit that a vehicle is.
     
  2. Apr 8, 2010 at 9:25 PM
    #262
    Muy Grande

    Muy Grande Well-Known Member

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    John
    Dallas, TX; RGV, TX
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    06 DC TRD
    Suspension: DHoes up front, Dakar and OME out back. Audio: Alpine w205 w/ pair of Alpine Amps, Image Dynamic 6.5 Component Speakers up front and Image Dynamic Subs in the Back. Armor: ARB Bull Bar, Rocktek rear bumper and custom rock sliders. Other: Rigid Industries LED Light Bar, Platinum DieHard Battery, BlueSea Fuse Block, rear lights, bed lights, leds inside.
    Glad to say I'm a member of this club! I have 3 Toyota's paid off.

    1. 1987 Toyota 4Runner 4WD (bought for my sister, I'm a good brother)
    2. 1993 Toyota Pickup Extend Cab 4WD (My 1st love and college truck still have it)
    3. 2006 Toyota Tacoma TRD Offroad 4WD (Currently my black hole)

    All with my own cash!

    :D:D:D:D:D:D
     
  3. Apr 11, 2010 at 6:44 PM
    #263
    preach4bass

    preach4bass Member

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    I'm one of those "pay cash for everything" guys. And, no, I didn't come from a wealthy family, don't have a high paying job, and didn't marry a sugar mamma.

    You want an explanation of HOW people pay cash for everything? I'll send you a book that outlines how many of us regular folks do that. PM me your address and I'll send you a copy of Dave Ramsey's book "Total Money Makeover." From reading throught this thread, I noticed that several of the cash guys quoted Ramsey. I'll warn you though: His financial philosophy isn't a get rich quick scheme. It takes discipline.
     
  4. Apr 11, 2010 at 6:44 PM
    #264
    Blanca06

    Blanca06 Booger Aficionado

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    carmelo
    Santa Ana, CA
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    2018 TRD OffRoad
    planning to put a 3" lift on her (I think)
  5. Apr 11, 2010 at 8:51 PM
    #265
    stinky_truck

    stinky_truck Well-Known Member

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    ryan
    i=13 miles currently @ 75,500 miles
    Vehicle:
    Plane Jane:4x4,6 speed, shortest bed,URD3SC
    front baja bbq hoop bumper and rear allpro bumper, URD SCIII,urd short throw & stg IIIclutch combo kit w/throwout, DDM Hid 4000k, icon frt (coil overs)& rear shocks (piggy back rez)& add a leaf.
    i thank God he kept me healthy to get the lean holder off my title.
     
  6. Apr 11, 2010 at 9:36 PM
    #266
    snowgod06

    snowgod06 UG legend wannabe

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    Rob
    A farm field, OREGON
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    06 Access Cab
    crap bolted and welded together....
    My taco was my first new rig ever. Paid straight up for it with all the money i had saved up. Bought her when i was 18 for a pretty good price.
     
  7. Apr 12, 2010 at 4:27 AM
    #267
    piercedtiger

    piercedtiger Devout Atheist

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    Jon
    Southern Tier, NY
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    Thanks, I'll look into him. Reading over his website now.
     
  8. Apr 12, 2010 at 10:04 AM
    #268
    Husker_in_KC

    Husker_in_KC Well-Known Member

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    CO Springs
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    Tinted Windoz, TruXedo, Toytech lift, beefed sliders, got winch.
    Saved up and paid cash to start with, no loan required.

    Never got into Debt to start with so never needed Dave Ramseys plan, but he does have good rules to live by.
     
  9. Apr 12, 2010 at 11:16 AM
    #269
    3boyztaco

    3boyztaco Well-Known Member

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    in the middle of the sea
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    PreRunner
    paid mine in full.
     
  10. Apr 12, 2010 at 7:24 PM
    #270
    06yoda

    06yoda Well-Known Member

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    Tanner
    Clovis, CA/ Emmett, ID
    Vehicle:
    1996 Landcruiser FZJ80
    Bought the truck Feb 08 paid off Feb 09 24k in one year. Thank you ol faithful deployment schedule. Now i'm on shore duty just enjoying it.
     
  11. Apr 12, 2010 at 10:18 PM
    #271
    Pinky420

    Pinky420 Active Member

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    Andrew
    albuquerque
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    09 a/c 5 lug
    afe, 20% tint & sunstrip, weathertech, debadged, straight header for now.
    09 and it was paid off on the spot, now im broke hahahaha
     
  12. Apr 13, 2010 at 4:32 PM
    #272
    Evil Monkey

    Evil Monkey There's an evil monkey in my truck

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    Robert
    Escondido, CA
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    Weathertech front & rear mats, rear suspension TSB, Toytec AAL for TSB, Hi-Lift Jack, Bilstein 5100 & Toytec Adjustable coilovers, Built Right UCAs, KMC XD 795 Hoss Wheels, Definity Dakota MTs 285/75R16, Leer XR, Thule Tracker II & Thule MOAB basket
    Do you have enough in your 401K to get a meaningful loan to pay off debt? Most plans have an option to borrow against your 401K (up to half the amount). You pay interest on it but the interest goes into your account, and not to a lender. You basically are buying back the 401K shares in the form of a loan. You also pay it back after tax so there's no reduction on your income, but you have that anyway with the credit card debt. If you've been paying in for a while and your company provides matching funds, you've probably built up a pretty good balance especially if you were buying in during the recession and the subsequent bounce back.

    The loans can be both good or bad depending on the timing. I took one out just prior to the start of the crash. As a result, I essentually sold high and bought low. In three years time, I doubled my 401K balance and paid off some debt at the same time. The bad happens if you borrow just prior to a bull run. Because you're selling low and buying higher. But you still get the benefit of paying off some debt and sending the interest to your account instead. Just make sure you use it to pay down debt and not for anything that wouldn't free up cash.

    Other things you can do is to pay down the higher interest cards first and make minimum payments on the lower interest debt. Use any extra you were paying on the lower interest cards and put it toward the higher interest ones. You have to stop charging though or it will never go down.
     
  13. Apr 13, 2010 at 5:04 PM
    #273
    piercedtiger

    piercedtiger Devout Atheist

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    Jon
    Southern Tier, NY
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    My company dragged it's feet converting me from a sub-k to a permanent employee so I've only had it going maybe 6-7 months. :( And by October I'll be with another employer as our support contract was terminated and I'll be starting over with the new company taking it over. Or be working for the health organization itself. Either way I think I need to roll the 401k over to an IRA and start over. Or can I roll one 401k to another? :notsure: I've never managed to go from one company with 401k to another with them as well.

    I'll probably be fine by this time next year, but it's been a struggle the last 4yrs. Wife will be done with school and able to work full time making more money. One less kid will be in day care. And I may end up with a job doubling my salary for the same work. (not sure if that means much really, the general opinion is that we're underpaid for the amount of work and stress anyway)

    I could rent instead of buying a house, but my mortgage payment is nearly what we paid for rent. So rather than deal with a 700sq ft apartment where I wanted to kill my neighbors and try to raise 2 kids we decided to get a $50k mortgage for a 2700sqft house, 2 story barn, acre of land, and enough distance between neighbors that loud music can't be heard from one house to another. We both decided to go further in debt to give a better life for our kids (and a 3rd child wasn't even on the way yet) and not end up in jail for aggravated assault or homicide. :D

    Basically, the neighbors made me seriously consider leaning out the window with my .22 a few times, we needed a second vehicle so we could both work, and I was driving 100+ miles/day for work. Didn't want a cheap but unreliable used car for that. No way I wanted to get stuck in another state if it broke down. So within 6 months I bought the truck then we bought the house. Having $80k on hand to pay cash for that was impossible.

    What I *have* been doing is trying to spend more wisely. A new vehicle (the truck) that wouldn't need several hundred dollars each year to pass inspection, or other repairs just to keep it running. New windows and doors on the house to seal it up better to reduce heating and cooling costs each year. Juggle bills and pay late fees when required to cover gas, daycare, and books so my wife can get through school and ultimately get something better than a job in fast food.

    My credit card is my visa check card. I had a Lowes card for home improvements, but the closed the account on me even though I maxed it out and paid it off once and was doing that again. I just paid the rest of it off last month. I have 1 other card with a $400 limit for "emergency" purposes that I pay on each month mainly to build my credit back up from early college mistakes. Wife had one like that too, but never paid on it while she was unemployed for a year. :rolleyes: Long story short I paid that off for her a couple months back.

    We've been trying to build credit to qualify for the $10k+ loan we know we'll need to replace the roof, but if the new jobs pan out the way I hope I may just say screw it and save the required money to pay cash. I *hate* dealing with banks. :mad: But when expenses come all at once and pay comes slowly twice a month it's tough.
     
  14. Apr 13, 2010 at 5:09 PM
    #274
    piercedtiger

    piercedtiger Devout Atheist

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    Jon
    Southern Tier, NY
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    Oh, and one other thought for the people saying you don't need credit. The two fuel companies in the area won't do a budget or scheduled delivery account without a credit check and passing score. So for us it's COD only which means I call when we run out (and it's usually below 30 so I run to the gas station for kerosene until a delivery comes), or we have to keep monitoring the tank and guess when to order more. A monthly or bi-monthly top off would be nice, but nope. Not without good credit. Car insurance premiums are affected by credit too. So even if I don't want loans or credit cards having less than good credit still hurts and makes things harder. :rolleyes:
     
  15. Apr 13, 2010 at 8:20 PM
    #275
    81shark

    81shark Well-Known Member

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    just a word of caution...better check the rules on what happens if you are no longer employed and have a loan.

    i for one do not advocate borrowing from a 401K until it's a last resort. ie you don't have food, and will end up on street with out those $'s.
     
  16. Apr 13, 2010 at 8:25 PM
    #276
    81shark

    81shark Well-Known Member

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    your oil isn't much different than most utilities.

    yes we need credit for somethings, although it's bs that credit can impact our insurance. computers are a bad thing sometimes. makes it too easy to crunch too many numbers.

    that said, i don't need credit to buy a bitching stereo, or lift, or bumper or any other toy. toys should be bought with cash, and if you don't have the cash, you don't need the toy. not to knock, but go look in the for sale section for a prime example of what happens when you buy toys on credit.
     
  17. Apr 14, 2010 at 4:16 AM
    #277
    piercedtiger

    piercedtiger Devout Atheist

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    Southern Tier, NY
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    And that's why I don't have toys. :D My lift was the spacer/AAL lift so it was cheap.

    Thing is, my electric doesn't tell me they won't send electricity to my house when I run low unless I pay for it first. They send it, and I pay after they see how much I actually used. My phone/internet/TV doesn't make me pay before delivery. They send it, and I pay for it next month. Same with my cell. If I need more minutes or texts, they don't wait for money before allowing me to have them. And NONE of those services are key to survival which is what pisses me off. My kids won't freeze to death when it's -30F out and the cell, home phone, internet or TV is shut off. They COULD if the oil runs out and the house temp drops too low. Or the pipes could freeze. For 3 years I've been trying to get on an automatic delivery schedule with budgeted billing, each time not qualified. Which means instead of $80-100/month I can include in my budget I spend $400+ for the minimum 100gal delivery NOW the very day I run out. Or get kerosene from the gas station every 2-3 days until I get paid or their delivery guy shows up.
     
  18. Apr 14, 2010 at 4:20 AM
    #278
    69blackwhss

    69blackwhss Well-Known Member

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    jason
    georgetown ky
    Vehicle:
    03 v6 5speed step side trd
    push bar
    me!!! it was a 03 taco an had it payed for in 4yrs. it helps that i work at toyota in ky tho lol
     
  19. Apr 14, 2010 at 4:23 AM
    #279
    piercedtiger

    piercedtiger Devout Atheist

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    Southern Tier, NY
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    Not to mention, it takes 10 days or more sometimes to get money out of a 401k or company stock option. I've had to do it before. Not something you do when you need money NOW, or it isn't going to make a big difference (like pay off a lot of high interest debt so your monthly payments are lower).
     
  20. Apr 14, 2010 at 6:36 AM
    #280
    Ggiannig89

    Ggiannig89 Well-Known Member

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    Gianni
    san diego
    Vehicle:
    08 4cyl taco
    Not paid off, hav a 08 2.7 reg cab but about to tradein for a new 2010 extended cab prerunner, not excited for the payments but sure excited to cruise in it
     

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