Who has their truck Paid off?

Toyota offered me 0% for 36 months. Guess I should've just brought in a briefcase of 100s instead.

 

Yeah! Tell em like it is! I am sick and tired of these self righteous, holier than thou people who think they are better than everyone else acting like I'm stupid because I have to BORROW money from a BANK to FINANCE a new vehicle. Well I'm sorry I don't have a rich momma and daddy to give me money when I need it. I have to WORK for everything I own. Imagine that! Now I know I'll hear some lame excuse how they came up with 26 grand to pay for their truck. Wait for it.............

 

P.S., Kudo's to all of the working class people that are honest enough to admit that they had to finance. I have respect for the REAL people who are the backbone of this GREAT country!

 

Just bought my 2011 w/ $4k down at 2.9% for 59 months. Hoping to jump payments and be done with it in about 18 months. Owing is no fun, but repairing credit is crucial! grrrr..... At least the truck frickin' rocks!!

 

Some working class owners don't even live in your country , but I appreciatte the sentiment

 

What an arrogant and ignorant thing to say. How many people do you know that can afford to pay cash for a vehicle these days? Sure, it'd be nice, but it's not realistic. And for you to say someone does or does not deserve something makes me think you don't deserve a damn thing. I worked my ass off to pay my truck, and I paid it off 2 years early. But, I guess that means I don't deserve it since I couldn't drop $25,500 at one time. Jackass.

 

Traded in my paid off '06 in July of 2010. The '06 and $11,600 (36 months at 1.9% from NFCU) I bought the '10. Had been paying a tad over $1000 a month and decided to pull the trigger to pay it off tonight.

Free at last, free at last .....

.............. now for wheels and tires.

 

I am right there with you brother.

 

To the anonymous person who gave me a negative rep for a three years old post on this thread, get a life. My truck's been paid off for a long time now.

 

Mine is about to be paid off... Whew... Almost free!

 

mine was my dads personal truck, then he got a company truck and give it to me for a graduation present.

 

Who said we are holier than thou? And no one, not a single, solitary individual gave me anything in this life. I busted my ass to get what I have in life. No rich momma and daddy. No living rent free in mommy's basement. I worked hard, improved myself over many years, and made many stupid financial moves in my life that took years to pay off.

Took me until the age of 35 to be debt free and at 36 I paid cash for my truck. I understand that not everyone can, but I was incredibly blessed to be able to do so, and I am thankful that I had that opportunity.

The people making those statements that financing is bad are simply stating their views - and despite your thoughts to the contrary, probably do not think that they are better than you or anyone else.

Financing a depreciable asset for several years (we now have 6 and 7 year loans out there) is simply a bad financial move for a person to make. Life happens, and there are times that it is needed, however once it is paid off you should take the money you kept putting into a car payment and save it. In 5 years, when that 10 year old car or truck is about to die you can all, or mostly cash for it.

So quit being so thin-skinned and taking advice so personally. If you actually thought about it, maybe some people here are simply offering up some advice. Excessive debt, and ridiculously stupid financial decisions by businesses and individuals are exactly what contributed, in part, to our current financial situation in this country.

 

Took me until 33 to do it when I bought my F350 cash. Since then, I will never finance another vehicle if I can help it. I have been blessed to be in a situation that I haven't had to yet. No one has handed me anything and if they did, I wouldn't take it. I have too much pride to do it myself and not be indebted to anyone. When I started out, I financed my vehicles but tried to pay them off a bit early. Financing is a necessary vehicle for getting your feet underneath you when starting out and if done wisely can help to lead to financial independence.

 

I paid cash for mine. It's kind of a bittersweet experience. Sweet because I now own a brand new truck and have no payment...bitter because I use to have $29,000 in my money market account. Besides vowing to never have another car payment, I also vowed to never buy another new vehicle. Whoops. I was looking for a newer Tacoma with low miles, and they just weren't available unless I was willing to spend only $2-3k less than new. That was also hard to justify for a truck with 15-25k miles on it. Since I will have this truck for 15-20 years, I went back on my new car vow.

As recently as 6 years ago I was living paycheck-to-paycheck, and buying a new vehicle with cash seemed impossible. My wife works for a bankruptcy attorney and borrowed a book by Dave Ramsey called, "The Total Money Makeover". That was a pivotal point in our lives. There are no hollow promises in this book...no magic gimmicks. Ramsey tells you how to put together a strict budget that can work for you and pay off your current debts one at a time. Once you are debt free you have the liberty of saving a lot of money. Your money is now YOURS, and you aren't losing 6% here, 13% there in monthly payments.

Sorry to hijack, but I HIGHLY recommend Dave Ramsey's books. I wish I had gotten on this plan 20 years ago. With age comes wisdom, I suppose. You young folks can either criticize me as feeling superior, or you can take my message as intended and learn from my experience while you are young enough to REALLY benefit from it. Getting that debt monkey off my back has been one of the best things I have done to improve my life.

 

UH no I would say that contributed IN WHOLE, the financial fallout. At the end of the day it was millions of signitures on "promise to pay" contracts whether a credit slip for 10oz of $25 shampoo or $30K for a truck or $300K for a $125k house...... Individuals signed millions of credit obligations they ASSUMED they could pay for. It all starts with the individual,

If you have a 60 month loan without a guarentee you will be able to make that payment in 4 years you are the problem. If you are rolling bad debt from another vehicle into a new one you are the problem. If you signed loan papers for a unconventional home loan without 20% down and with a balloon or revision of interst rates due sometime in the future, you are the problem. IF you don't pay off credit cards every month and are using them as an extended paycheck you are the problem......This is "normal" for many people. They are the first to cry foul at the loan officers and banks. Loan officers they PRAYED would approve their bad loans and celbrated when they got that approval.
Yeah you can blame the banks for reselling YOUR bad loans to unsuspecting greedy investors..but without the millions of citizen signitures on all those contracts...they have nothing to resell.

Yes the individual citizen with more depreciating debt than savings is the reason many have suffered in this recession. The individual who paid too much for a house and signed off on a funky nontraditional loan or loans (as some even took loans for the downpayment) They are the problem.

It all starts with personal responsibility...after that it is either up hill or down. I know one thing. After the 70's recession I vowed to become immune to recessions ever again. Perhaps some will join me after this one. I see some light going off in some people's lives and valus are changing and people are saving and buying others mistakes used.

 

That is the best way to buy a car IF you must have a NEW vehicle. However it is not the most financially prudent way for those who will be itching to buy the 2014 Tacoma and look at their pile of paid off trade in in their driveway. People do this all the time. They cannot keep a vehicle for 6 years even. They take deprecition hit after hit.

Yes Toyota's depreciate...especially as a trade in. Few here would buy a year old Truck to save $4000..what does that indicate? I would in a heart beat. That $4000 saved becomes $8000 in due time. The truck's useful life remains the same!!

People that have Chevys and Fords with 80k-90K miles are not routinely found on the sides of the road....LOL Most have never had a major issue yet people are scared to death of a historically reliable truck with 25K miles for even $7000 less than new...Amazing, The very reason to buy a Toyota is becasue you don't HAVE to buy new to get a long term reliable vehicle!!!

 

Reply from TFS...My title will be mailed out on 2-14.
23 months early.DONE!!

 

Congrats man, I got 2 years left then mine will be payed off I can not wait.

 

You are correct, the "in part" portion should have read "mostly." A fair bit of moronic intervention and ineptitude by the morons in D.C. and at banks, but people in this country would rather live paycheck to paycheck and impress their neighbors and family than live within.......a budget.

How many people do you know that live beyond their means, have a huge, overpriced house, and drive around in the Lexus or Mercedes instead of the Ford or Toyota? Why blow incredible amounts of money like that. I made stupid mistakes buying things that I did not need. I learned from it, and am still learning from it every time I look back on the stupidity of my choices.

I just bought a home in a very nice town. Four years ago the guy I bought it from paid $40,000 more than I bought it for just 6 weeks ago. Market drives prices up, people pay more than they should, more than they can afford, for a house or car just to have appearances.

How many people ran out and bought the brand new iPhone for $400 instead of waiting a year or so for the price to drop and use the phone they have that works fine? How many people lease a vehicle and have a higher, continual payment for a car all their lives? Stupid PERSONAL financial decisions.

Desmo2 - I too like Dave Ramsey. For the most part, very sound advice from a guy with a lot of life experience to back up what he says. Occasionally a bit over the top, but very relevant. I found out about him a few years ago and try to listen when I can. Even tried calling in when we paid off our last student loan payment (without a dime from ANYONE!) We even gave a copy of the Total Money Makeover to a family member that pi$$es through money like it was water......she has yet to change her life. We can hope.


Religious or not, as the Good Book says in Proverbs: The borrower is slave to the lender.

 

2010 double cab just made the last payment today!