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Started By
Message
Any way I can get a new Tundra?
Posted on 11/15/23 at 6:10 pm
Posted on 11/15/23 at 6:10 pm
Got a used black GMC Sierra back in Feb of this year.
It’s a 2017, 62k miles. Loaded, leather, all the bells and whistles.
Still owe about $34k.
Note is about $600/month.
Is there any way I can get a new black crew cab Tundra and keep the note around the same? Current truck has a warranty and started making a noise. I was told it’s not covered. I’m ready for a new truck. Never had one.
Great job great credit.
I’ve been on websites and can’t get the note below $775.
*Old truck was very old and blew a rod. I was at the mercy of the high car price environment.
It’s a 2017, 62k miles. Loaded, leather, all the bells and whistles.
Still owe about $34k.
Note is about $600/month.
Is there any way I can get a new black crew cab Tundra and keep the note around the same? Current truck has a warranty and started making a noise. I was told it’s not covered. I’m ready for a new truck. Never had one.
Great job great credit.
I’ve been on websites and can’t get the note below $775.
*Old truck was very old and blew a rod. I was at the mercy of the high car price environment.
This post was edited on 11/15/23 at 6:33 pm
31
Posted on 11/15/23 at 6:22 pm to pwejr88
quote:
Still owe about $34k
You've owned it for >5.5 years with a $600 note and still owe $34k?
Posted on 11/15/23 at 6:23 pm to Dock Holiday
“Got it back in Feb.”
Posted on 11/15/23 at 6:23 pm to pwejr88
quote:You've been paying $600/month for about 6.5 years (almost $47,000 P+I) after paying something, I assume, for a down payment and you still owe a balance of $34,000?
Got a black GMC Sierra back in Feb.
2017, 62k miles. Loaded, leather, all the bells and whistles.
Still owe about $34k.
Are those numbers correct?
Any idea what you could sell your Sierra for today? What's the private individual sale Blue Book amount?
Posted on 11/15/23 at 6:26 pm to pwejr88
quote:
“Got it back in Feb.”
quote:So you got your current vehicle this past February NOT in February, 2017?
Got a black GMC Sierra back in Feb. 2017
Posted on 11/15/23 at 6:32 pm to LSURussian
I’ll edit. My apologies.
Got my current truck which is a 2017 model used in Feb. 2023
Got my current truck which is a 2017 model used in Feb. 2023
This post was edited on 11/15/23 at 6:34 pm
Posted on 11/15/23 at 6:33 pm to pwejr88
What’s stopping you from figuring this out yourself?
Posted on 11/15/23 at 6:34 pm to Jon Ham
Nothing. Just getting a new set of eyes as I’ve crunched a ton of numbers and can’t get the potential note where I want it.
Posted on 11/15/23 at 6:39 pm to pwejr88
quote:
Any way I can get a new Tundra?
Posted on 11/15/23 at 6:40 pm to pwejr88
quote:NO.
Is there any way I can get a new black crew cab Tundra and keep the note around the same?
Not unless you're willing to put a significant upfront cash down payment into the new purchase.
Can you even sell your current vehicle for enough to pay off what you owe on it?
Posted on 11/15/23 at 6:40 pm to pwejr88
Pay off your used truck before going deeper in debt. You are about to embark on a Neverending journey of ever growing car payments if you start rolling negative equity into auto loans. Don't do it. Probably a top 3 reason people remain poor and can't accumulate wealth.
Posted on 11/15/23 at 6:43 pm to TorchtheFlyingTiger
quote:
Probably a top 3 reason people remain poor and can't accumulate wealth.
yup. i have a "friend" like this. house poor and also could never keep a vehicle past 5 years. kept rolling negative equity into new notes. insanity. never downgraded house either after spouse died. barely makes ends meet now. has nothing left over and zero retirement. not a dime.
Posted on 11/15/23 at 6:44 pm to pwejr88
Sure extend the months to 96 probably. Bad idea though.
Posted on 11/15/23 at 6:45 pm to pwejr88
quote:
can’t get the potential note where I want it.
This how poor people thing, and it's this exact thinking that keeps them poor.
If the payment isn't what you can afford, you find a cheaper car.
Posted on 11/15/23 at 6:51 pm to j1897
quote:
If the payment isn't what you can afford, you find a cheaper car.
I can afford it. I don’t want to.
But I also don’t want to keep putting a truck in the shop that I got 8 months ago.
Posted on 11/15/23 at 6:52 pm to 21JumpStreet
quote:
extend the months to 96 probably
Crazy that people are financing cars that long.
Posted on 11/15/23 at 6:57 pm to pwejr88
You are in a massive amount of debt on a 7 year old truck. Probably underwater on it. I’d recommend against buying the new Tundra.
Posted on 11/15/23 at 7:01 pm to PhiTiger1764
Go park it in New Orleans with the windows down.
Posted on 11/15/23 at 7:05 pm to pwejr88
quote:Nevermind, I missed the key detail about the color. Why not just go ahead then.
black crew cab
Don't worry about critical details like debt to income ratio, interest rate, price, remaining disposable income after fixed expenses etc...
This post was edited on 11/15/23 at 8:00 pm
Posted on 11/15/23 at 7:38 pm to pwejr88
I have a tenant....
He had two Mercedes in the driveway which were on lease. They just came off lease and he leased two more....the fancy sports editions.
When reviewing his application a few years back, I noted he had NO savings. He told me he had a $30,000 line of credit.
He pays his bills and seems happy. I receive my payments and I seem happy too.
He had two Mercedes in the driveway which were on lease. They just came off lease and he leased two more....the fancy sports editions.
When reviewing his application a few years back, I noted he had NO savings. He told me he had a $30,000 line of credit.
He pays his bills and seems happy. I receive my payments and I seem happy too.
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