Who has their truck Paid off?

Just bought a 2008 TRD OR access cab with 195k miles for $9200, no loan.

 

Yes...it took a couple years, but it's paid off and I'm very glad that it is. Both vehicles are now paid off, however I am concerned that repair and maintenance costs will start to rise....my tacoma is now 12 years and will soon need a new frame and Toyota seems they are not going to cover it....which based on some of the horror stories I habe read it might save me some headaches to buy a frame and do the swap myself....or if possible fix the frame I have now.

The wife's expedition is approaching 265K miles and is 9 years old....im assuming some heavy maintenance on it may be fast approaching....we will see. Ideally I will get 350K miles out of that vehicle as we bought it with 150k on it and still to this date it was the most expensive vehicle I have ever owned. That being said it was fully loaded and even by todays standards is well equiped.

We have never bought a brand new vehicle...and I think Inhave saved a lot of money over the years because of it. My tools that I started investing in at the age of 16 habe also payed for themselves lots of times.

 

House, 2 trucks, 2 cars, 1 dirt bike, my kid’s college...all paid for. Am I rich? Nope, just live within my means and don’t buy stupid stuff...

 

Looks pretty good for 195k

 

How do you do it? I mean how do you have an account on here and NOT buy stupid stuff?

 

not a Tacoma, but paid off.

 

Been paid off since early 2015

 

Picked up the 2011 TX Pro, ~$15K cash. Practically sold our 08 Porsche Cayenne Turbo for it. Absolutely zero regrets.

 

4x4?

 

Yes.

 

Haha...you make a good point! I guess due to my age (56) and because I’m old school, my truck is mostly stock equipment. Never really got into beefing up the suspension, tires etc. but to each his own.

The DIY maintenance tips I’ve gained on here from members smarter than me is priceless...

 

Good-looking setup you have there.

 

Having the the financial will power to pay cash for a vehicle is commendable but is not good business sense. Let me explain.

I have a substantial amount of money scattered in 5 or 6 funds making 3.5% to 6.5 % interest. With my credit rating I usually pay 0 to 1.5 % on a new car loan. So why would you pull money out that is making up to 6% to buy a car knowing that in 3 or 4 yrs. it will only be worth at best 55% of the purchase price. Save up the money and put it where you can have a auto draft car payment taken out each month and you will save a substantial amount of money. Even with a Tacoma that holds its value better than most , that money you lose in value the 1st 3 yrs is gone forever.

 

Thanks! Should have my bumper by end of month.

 

28 yrs old and debt free except the house. 3 cars and student loans are 100% paid for. Not easy, but definitely worth it. Seems like a long ways off, but our goal is to have the house paid off in 7 yrs.

 

Same boat I’m 27. I paid my student loans off then my twin brother’s. Currently on the 10yr house plan. I’m picking up extra freelance jobs like crazy again to help knock it down piece by piece

 

Paid cash for my ‘10 using funds from the sale of my ‘53 Chevy pick up street rod.

 

Pics of the Chevy?

 

Sold my house, used some of the proceeds to pay off the 05 yesterday! Except for the new house, we are now debt free!

 

A lot depends on your personal risk preferences and adversity to debt. I have plenty of equity and bond market exposure and I am extremely debt adverse, so for me it makes sense to pay cash.

I’d rather miss out on some return but have no car payment than be at risk for losing money in the markets and still owing the bank for my truck.