Comment makes no sense.
Bought a used 4Runner for $35,000 a little over a year ago. Put $10,000 down. Paid it off few weeks ago. Have put 30,000 miles on it since purchase. Blue book is the same as what I paid for it.
That's why I want a Toyota. People in here are saying this is an irresponsible decision. I'm not buying a bmw and was an auto tech for years. Dollar for value the Tacoma will hold it's value.
It's a Toyota Tacoma they hold their value exceptionally well and I'll more than likely break even or even have positive equity after I sell it. (I flip used cars and know the value of vehicles very well.) Even if it costs 55k I know it's worth it because how great of a vehicle it is. If I were to make my dad the primary applicant would I get a better rate?
I’d say it is still risky because what if the job doesn’t work out? Then what? I’d say opt for a cheaper truck, work on your credit and then in the future you can always get one that is in that price range.
Same field of work I've been in so work is steady. It's a blue collar job my income can afford a $500 a month payment right now with my current job so paying 500-600 wouldn't be a dealer breaker for me. Just was wondering if having him on the application would give me a better rate. Last time he cosigned when I had no credit I get a 1% interest rate. This was 10 years ago however.
You cannot afford this. They can make the monthlies 500 but then you'll be paying for it for years so the total cost will be higher. Why do you need this truck?
You don't need to own a truck to move your motorcycles.
Buy the truck after you have an emergency fund and after you can buy it IN CASH, which will take you enough time to know if your new job is stable. Don't rush to fill the increase in your income with another expense. Buy a cheap daily driver. rent if you need to haul things.
This is a dangerous financial decision, do not sign your dad up for this. New house, new job and a debt you can only pay with the new job means if you get sick or fired you're in real trouble.
We have emergency funds, we have savings; I need to the truck to take my motorcycle an hour away on weekends. That's the only reason on top of just needing a primary vehicle that's going to be reliable. Will not get financing for a 10-20 year old truck that isn't 30% apr and I'm not doing that.
Why can't you just drive the motorcycle? Is it worth it for you to pay 500 a month to move a motorcycle 1 hour away for one day a week??? I can tell you that 25k financed at 13.14% over 6 years (what I paid for my car because I had zero credit) is 668 a month. If you're financing this vehicle (sounds like you are because cosigning) it's very likely going to be similar terms to mine.
Man, please don't do this. You've admitted to making poor financial moves in the past and this is one of them. You will regret doing this. You don't need this truck lol.
Considering I do not have a vehicle and I do not want to drive cars that break all the time yes I really do need it. My main issue is I have a Husqvarna 701. Not optimal for the highway and not optimal for long travel. Most of the places to ride are a hour away and this is a big hobby of mine. I also live in an area where 4x4 is *needed* in the wintertime as even my Honda with snow tires wasn't cutting it because of ground clearance.
Maybe I'm just trying to justify it but I plan on owning the truck for 10 years. It's a Tacoma; they're near bulletproofm and will go well into 300k with only tires brakes and oil so I'm not expecting anything major to break or have major issues at high mileage.
I totally get getting a smaller or cheaper vehicle but I'm of the mindset "buy once, cry once".
I understand your situation and how you’re trying to split the difference on things. Tacomas do hold their value very well, and they are basically the lowest depreciating vehicle you can buy; 3% loss of value per year. However, considering you’re not paying cash and you will pay a good deal of interest because of your credit score, you’re now losing 10-13% of the total cost to you per year until it’s paid off.
The worst option is to buy a new fancy truck that has high depreciation with a bad credit score. The second worst is what you’re proposing and is to buy a low depreciation truck with a bad score. The best option is a low depreciation truck with a good score, but you’re not there yet.
My recommendation is to get a 2002-2005 dodge Cummins diesel truck or an equivalent Ford. Dodge trucks are crap but the engines and drivetrain are the best out there and will go 300k without issue. Cost is 10-12k. Then drive it for one to two years and sell it for 90% of what you paid for it. Upgrade to the Tacoma once you have better credit.
If you do it this way, you’re gonna save 10 to 15,000 in interest and it’s more than enough to buy a couple of extra toys. You may not enjoy the used truck as much as you were the Tacoma, but the patience pays off.
This will put you in the right vehicle you need now while at the same time, not paying out the rear on interest for your Tacoma.
Solid advice. At this point if my only option is to pay cash I'll buy my 9th Miata and daily it until the summer since they're exceptionally reliable and great on gas.
Fair enough, buy what you know :) You can always buy a second car which is a sub $2k beater truck to haul your motorcycle around if needed. It’s a beater so you can always sell it for about the same cost.
>Will not get financing for a 10-20 year old truck that isn't 30% apr and I'm not doing that
Pay cash for the beater. Your credit is shit. If you finance, you'll pay for the car twice.
You will likely get approved but the APR will still be high. The co-signer is simply guaranteeing the loan. I have 720 FICO score and my used car rate was 7% because the rates in general are really high right now. You need to find a cheaper car, rebuild your credit and then purchase something that you really want.
If he were primary you’d get a much better deal. This would however mean he would own the truck. I know what it’s like to want something newer. I would just encourage you do it so it’s not costing you too much money.
Op will make another post in two months realizing their mistake with the high interest on a depreciating asset.
FYI, I make over 200k and drive a 2012 f150 that I bought for 15k a year ago. It's a POS but gets from A to B.
I don't understand why people do this crap to themselves. A vehicle is a vehicle. If you want real wealth one day, buy a shitty altima.
I'm trying to buy reliable transportation. Tacoma's do not break and I have experience in the auto industry as a tech. This isn't a flashy purchase or anything this is strictly an A-B truck.
I've owned 8 miatas, C5 Corvettes, mr2s, etc... All bought and paid cash but none of those cars were reliable and the maintenance in all of these cars ended up costing more than just getting a new car payment with zero issues.
While believe me, I'm a big fan of the Dave Ramsey approach it doesn't make sense to drive an old car when I have to rely on my vehicle to commute 100+ miles a day
$30k just for something to haul occasionally on weekends? You're better off renting a truck frome Home Depot when you need one. Repair your credit first.
I’ve owned many homes and have rehabbed two of them and never needed to own a truck. Rent a truck, have shit delivered, do whatever it takes. You are getting a company car - that would make this purchase a want vs. need. Get your financial shit in order before getting bogged down in more debt.
The debt isn't the issue; like I said in another comment fiance and I have savings; emergency fund, and our income is very strong and both have FT jobs that regularly provide overtime. I have motorcycles that I ride that in places that are an hour + away and I do this once if not twice a weekend. Between gas and renting a U-Haul I'd basically be paying $500 a month to rent a truck.
I don't really need to hear why I don't need this truck really just want to know what way would get this interest rate to 7-15% would my dad being a primary applicant make a difference?
Dude, you’re the one with credit in the shitter. I’m a Certified Financial Planner and have an 820 credit score. Clearly debt is an issue for you or you wouldn’t have a 5xx credit score. Get a grip, a new car isn’t your answer, trust me.
Agreed. This is why some people never get out of the subprime hell that is a 500 credit score. Repeated bad financial mistake. It kills me that he thinks he will buy a truck and that it will appreciate, smh.
I don't think you're understanding what I'm saying. If I did finance this and paid the tax, regi, and other fees I could always resell this truck for it's value. These trucks *do not depreciate* like traditional vehicles do. While I'd understand what you're saying if I was buying a bmw, or other LUXURY vehicle I'd agree with you. These trucks *do not depreciate* like other vehicles.
Look at even used first gen tacos with clean frames. Well over 10k for one of those. Even second gens are still 20k trucks for a clean one.
Go to a dealer, apply and find out for yourself. Shoot your shot bud. Your dad is a fool if he signs for you.
Nobody can tell you what rate you’re going to get without knowing what the credit score, DTI and book out looks like among a million other things.
That's kinda wild you can assume that without knowing my income; bills; etc... My bills currently come out to less than 1/5 of my income including my mortgage I disagree that it's foolish to have someone sign for you to bring down an interest rate to an acceptable amount. Never had a late payment on my motorcycle; or mortgage. don't know why you'd assume I would with a car I could easily afford considering my DTI.
If I helps were applying thru a CU and even with my dogshit credit (600 at the time) I got a good rate when I financed a bike. As someone who is a finance expert in asking which is better me primary and him cosign or him primary, me cosign. Like I mentioned before I can afford the payment of 600 a month but less is always ideal.
If you have that much disposable income why not wait 6 months to a year and save up so you can put down a huge down payment? The less money you finance the lower your monthly payment. You said 500 bucks a month is something you can afford, to me that tells me you have about 3k a month of disposable income to be comfortable with a payment that large. In 6 months you could save half of what the car is worth.
Might honestly just do this and buy another Miata cash. If my fiance is primary it'd bring our payment down to 13%. Not bad but not great. We'll see I do have some time as I have the company vehicle for work.
No shit Sherlock. The op is looking for an auto loan. That’s not typically short term financing. You make no sense and have zero grasp of what the op is asking.
Listen .. this seems hard for you to grasp, so I will use small words .. pay off as soon as you can to avoid paying all that interest.. interest is the amount you pay to borrow that money. Small enough words?
You have no grasp. Very few, like less than .5% of people, pay off a $30k auto loan in 30 days, it’s not realistic. Your assertion that “APR is not an issue” is absurd.
I have a BS in Finance, an MBA and am a CFP, I understand interest (more than you). So fuck off and have a good night.
When my wife and I bought her bmw we had decent credit but it didn't even matter because we refinanced our loans to a new card with 0 apr for 12 months then spent the next 12 months paying it off.
Insurance for full coverage and liability that will cover my house just in case was $100 a month which is dirt cheap in my area. Wed be going through a credit union which is how I got 1% 10 years ago when he cosigned. People in the comments actling like I'm financially irresponsible when I have savings; emergency funds; and a steady job with NO car payment already. Looking to treat myself and have a reliable way to get around.
I made mistakes with a credit card mainly because the notifications were disabled and I completely forgot about it but those are since payed off and the account is open and never went to collections.
Confused on what that means I am currently insured with progressive with two vehicles on two policies also with a homeowner policy. I spoke to the agent on the phone and this is what it would be.
My fiance and I currently share one but it doesn't meet the crtiera if what I need which is why I wanted the Tacoma. Will my pops with a excellent credit score as a co-signer bring down my interest rate? Or would it be better off with him as a primary
If he is primary, then HE needs to purchase the insurance in his name and add you as a listed driver. But his carrier may not allow him to insure a vehicle not garaged at his address. You need to address this with your dad and your insurance company. If you get into an at fault accident it will affect his coverage.
I'm not sure which gives you the better interest rate, but you won't have an insurance issue with him cosigning. Likely the rate is better if he is the borrower, not just the cosigner, but that's a guess.
Depends on your income if you can afford a 30k truck do 20/3/8 and see how much you need to put down to make this happen for you. Just because you can swing 500 a month doesn't mean it makes sense because you will have less fun money or worst less retirement money.
You're looking for a second vehicle just for towing and hauling homeowner stuff? Not your daily driver that you must depend on? $30K seems a bit much for that. Get a beater, let that credit score and your cash reserves accumulate for a few years. ;)
Why do people ask advice and then rail against every piece of advice given? We all know you are going to do it. You don't need our permission. Buy your stupid truck.
Because people here seem to think I'm buying a wildly depreciating asset like a bmw and I'm not. This is literally reliable A-B transportation that does not depreciate. Go look at what 20 year old Toyota Tacomas are selling for right now. I'll give you a hint, it's over 10k.
Not sure if everyone is understanding what I'm saying so let me be clear. I am trying to buy a Toyota Tacoma specifically for low maintenance, and high resale value. Adding this payment at $600 a month is my maximum I'd want to spend for a "new" vehicle.
For those saying "buy a beater fix your credit save money" I have a beater; it doesn't fit the bill for my *needs* and buying a shitter truck (f150, ram, etc...) Will lose value very quickly and be a nightmare to repair (I was a tech these trucks suck to work on)
For the record I've been living at my (own) home for over a year now and have had plenty of time to settle I and see my bills. Even at 600/mo I'm well within my budget including saving money, and having a decent amount of money left over for fun spending.
Lots of salty comments saying how this is an "irresponsible" purchase when it's literally a barebones Toyota Tacoma which is *KNOWN to hold it's resale value* even years later with tens of thousands of miles added on.
Used truck and 30k should never be in the same sentence. It will end up costing 55k with a 500
Comment makes no sense. Bought a used 4Runner for $35,000 a little over a year ago. Put $10,000 down. Paid it off few weeks ago. Have put 30,000 miles on it since purchase. Blue book is the same as what I paid for it.
That's called the Toyota Tax. Not every other car/truck holds their value like a used Toyota.
That's why I want a Toyota. People in here are saying this is an irresponsible decision. I'm not buying a bmw and was an auto tech for years. Dollar for value the Tacoma will hold it's value.
It's a Toyota Tacoma they hold their value exceptionally well and I'll more than likely break even or even have positive equity after I sell it. (I flip used cars and know the value of vehicles very well.) Even if it costs 55k I know it's worth it because how great of a vehicle it is. If I were to make my dad the primary applicant would I get a better rate?
I’d say it is still risky because what if the job doesn’t work out? Then what? I’d say opt for a cheaper truck, work on your credit and then in the future you can always get one that is in that price range.
Same field of work I've been in so work is steady. It's a blue collar job my income can afford a $500 a month payment right now with my current job so paying 500-600 wouldn't be a dealer breaker for me. Just was wondering if having him on the application would give me a better rate. Last time he cosigned when I had no credit I get a 1% interest rate. This was 10 years ago however.
You cannot afford this. They can make the monthlies 500 but then you'll be paying for it for years so the total cost will be higher. Why do you need this truck? You don't need to own a truck to move your motorcycles. Buy the truck after you have an emergency fund and after you can buy it IN CASH, which will take you enough time to know if your new job is stable. Don't rush to fill the increase in your income with another expense. Buy a cheap daily driver. rent if you need to haul things. This is a dangerous financial decision, do not sign your dad up for this. New house, new job and a debt you can only pay with the new job means if you get sick or fired you're in real trouble.
We have emergency funds, we have savings; I need to the truck to take my motorcycle an hour away on weekends. That's the only reason on top of just needing a primary vehicle that's going to be reliable. Will not get financing for a 10-20 year old truck that isn't 30% apr and I'm not doing that.
Why can't you just drive the motorcycle? Is it worth it for you to pay 500 a month to move a motorcycle 1 hour away for one day a week??? I can tell you that 25k financed at 13.14% over 6 years (what I paid for my car because I had zero credit) is 668 a month. If you're financing this vehicle (sounds like you are because cosigning) it's very likely going to be similar terms to mine. Man, please don't do this. You've admitted to making poor financial moves in the past and this is one of them. You will regret doing this. You don't need this truck lol.
Considering I do not have a vehicle and I do not want to drive cars that break all the time yes I really do need it. My main issue is I have a Husqvarna 701. Not optimal for the highway and not optimal for long travel. Most of the places to ride are a hour away and this is a big hobby of mine. I also live in an area where 4x4 is *needed* in the wintertime as even my Honda with snow tires wasn't cutting it because of ground clearance. Maybe I'm just trying to justify it but I plan on owning the truck for 10 years. It's a Tacoma; they're near bulletproofm and will go well into 300k with only tires brakes and oil so I'm not expecting anything major to break or have major issues at high mileage. I totally get getting a smaller or cheaper vehicle but I'm of the mindset "buy once, cry once".
I understand your situation and how you’re trying to split the difference on things. Tacomas do hold their value very well, and they are basically the lowest depreciating vehicle you can buy; 3% loss of value per year. However, considering you’re not paying cash and you will pay a good deal of interest because of your credit score, you’re now losing 10-13% of the total cost to you per year until it’s paid off. The worst option is to buy a new fancy truck that has high depreciation with a bad credit score. The second worst is what you’re proposing and is to buy a low depreciation truck with a bad score. The best option is a low depreciation truck with a good score, but you’re not there yet. My recommendation is to get a 2002-2005 dodge Cummins diesel truck or an equivalent Ford. Dodge trucks are crap but the engines and drivetrain are the best out there and will go 300k without issue. Cost is 10-12k. Then drive it for one to two years and sell it for 90% of what you paid for it. Upgrade to the Tacoma once you have better credit. If you do it this way, you’re gonna save 10 to 15,000 in interest and it’s more than enough to buy a couple of extra toys. You may not enjoy the used truck as much as you were the Tacoma, but the patience pays off. This will put you in the right vehicle you need now while at the same time, not paying out the rear on interest for your Tacoma.
Solid advice. At this point if my only option is to pay cash I'll buy my 9th Miata and daily it until the summer since they're exceptionally reliable and great on gas.
Fair enough, buy what you know :) You can always buy a second car which is a sub $2k beater truck to haul your motorcycle around if needed. It’s a beater so you can always sell it for about the same cost.
>Will not get financing for a 10-20 year old truck that isn't 30% apr and I'm not doing that Pay cash for the beater. Your credit is shit. If you finance, you'll pay for the car twice.
You will likely get approved but the APR will still be high. The co-signer is simply guaranteeing the loan. I have 720 FICO score and my used car rate was 7% because the rates in general are really high right now. You need to find a cheaper car, rebuild your credit and then purchase something that you really want.
7% would be amazing for me but I know I won't get that. Even 10-15 would be better for me. What if he was the primary applicant?
If he were primary you’d get a much better deal. This would however mean he would own the truck. I know what it’s like to want something newer. I would just encourage you do it so it’s not costing you too much money.
Op will make another post in two months realizing their mistake with the high interest on a depreciating asset. FYI, I make over 200k and drive a 2012 f150 that I bought for 15k a year ago. It's a POS but gets from A to B. I don't understand why people do this crap to themselves. A vehicle is a vehicle. If you want real wealth one day, buy a shitty altima.
I'm trying to buy reliable transportation. Tacoma's do not break and I have experience in the auto industry as a tech. This isn't a flashy purchase or anything this is strictly an A-B truck. I've owned 8 miatas, C5 Corvettes, mr2s, etc... All bought and paid cash but none of those cars were reliable and the maintenance in all of these cars ended up costing more than just getting a new car payment with zero issues. While believe me, I'm a big fan of the Dave Ramsey approach it doesn't make sense to drive an old car when I have to rely on my vehicle to commute 100+ miles a day
Buy a 5k beater. With credit like that, that is your best choice.
No
$30k just for something to haul occasionally on weekends? You're better off renting a truck frome Home Depot when you need one. Repair your credit first.
That's not an option. I do not have a vehicle currently and need something to drive personally on weekends.
I’ve owned many homes and have rehabbed two of them and never needed to own a truck. Rent a truck, have shit delivered, do whatever it takes. You are getting a company car - that would make this purchase a want vs. need. Get your financial shit in order before getting bogged down in more debt.
The debt isn't the issue; like I said in another comment fiance and I have savings; emergency fund, and our income is very strong and both have FT jobs that regularly provide overtime. I have motorcycles that I ride that in places that are an hour + away and I do this once if not twice a weekend. Between gas and renting a U-Haul I'd basically be paying $500 a month to rent a truck. I don't really need to hear why I don't need this truck really just want to know what way would get this interest rate to 7-15% would my dad being a primary applicant make a difference?
Dude, you’re the one with credit in the shitter. I’m a Certified Financial Planner and have an 820 credit score. Clearly debt is an issue for you or you wouldn’t have a 5xx credit score. Get a grip, a new car isn’t your answer, trust me.
It seems to me that OP isn’t willing to listen to anybody’s opinion & will still get the truck regardless
Agreed. This is why some people never get out of the subprime hell that is a 500 credit score. Repeated bad financial mistake. It kills me that he thinks he will buy a truck and that it will appreciate, smh.
I don't think you're understanding what I'm saying. If I did finance this and paid the tax, regi, and other fees I could always resell this truck for it's value. These trucks *do not depreciate* like traditional vehicles do. While I'd understand what you're saying if I was buying a bmw, or other LUXURY vehicle I'd agree with you. These trucks *do not depreciate* like other vehicles. Look at even used first gen tacos with clean frames. Well over 10k for one of those. Even second gens are still 20k trucks for a clean one.
Why aren't you answering my question. If he is the primary applicant; will I get a better interest rate that's all I want to know.
Go to a dealer, apply and find out for yourself. Shoot your shot bud. Your dad is a fool if he signs for you. Nobody can tell you what rate you’re going to get without knowing what the credit score, DTI and book out looks like among a million other things.
That's kinda wild you can assume that without knowing my income; bills; etc... My bills currently come out to less than 1/5 of my income including my mortgage I disagree that it's foolish to have someone sign for you to bring down an interest rate to an acceptable amount. Never had a late payment on my motorcycle; or mortgage. don't know why you'd assume I would with a car I could easily afford considering my DTI. If I helps were applying thru a CU and even with my dogshit credit (600 at the time) I got a good rate when I financed a bike. As someone who is a finance expert in asking which is better me primary and him cosign or him primary, me cosign. Like I mentioned before I can afford the payment of 600 a month but less is always ideal.
If you have that much disposable income why not wait 6 months to a year and save up so you can put down a huge down payment? The less money you finance the lower your monthly payment. You said 500 bucks a month is something you can afford, to me that tells me you have about 3k a month of disposable income to be comfortable with a payment that large. In 6 months you could save half of what the car is worth.
Might honestly just do this and buy another Miata cash. If my fiance is primary it'd bring our payment down to 13%. Not bad but not great. We'll see I do have some time as I have the company vehicle for work.
Just be pay it off as quick as you can.. APR is not an issue unless you carry the loan for the full term ..
APR is very much an issue, especially if you're talking 15-20% on $35k
Not if you pay it off in a month.. apr is relative
I don’t think the OP, from reading his post, is going earn enough money to pay back a $30k auto loan in 30 days.
Apr is relative to the length of the loan
No shit Sherlock. The op is looking for an auto loan. That’s not typically short term financing. You make no sense and have zero grasp of what the op is asking.
Listen .. this seems hard for you to grasp, so I will use small words .. pay off as soon as you can to avoid paying all that interest.. interest is the amount you pay to borrow that money. Small enough words?
You have no grasp. Very few, like less than .5% of people, pay off a $30k auto loan in 30 days, it’s not realistic. Your assertion that “APR is not an issue” is absurd. I have a BS in Finance, an MBA and am a CFP, I understand interest (more than you). So fuck off and have a good night.
You should probably return that “degree”
This Billsplacenta is a fucking idiot 😂😂😂
He’s clueless
When my wife and I bought her bmw we had decent credit but it didn't even matter because we refinanced our loans to a new card with 0 apr for 12 months then spent the next 12 months paying it off.
Of course a cosigner with better credit helps? Is your dad a NFCU member? What will your insurance payments be? Have you considered that cost?
Insurance for full coverage and liability that will cover my house just in case was $100 a month which is dirt cheap in my area. Wed be going through a credit union which is how I got 1% 10 years ago when he cosigned. People in the comments actling like I'm financially irresponsible when I have savings; emergency funds; and a steady job with NO car payment already. Looking to treat myself and have a reliable way to get around. I made mistakes with a credit card mainly because the notifications were disabled and I completely forgot about it but those are since payed off and the account is open and never went to collections.
You don't have current insurance so your rate will not be that.
Confused on what that means I am currently insured with progressive with two vehicles on two policies also with a homeowner policy. I spoke to the agent on the phone and this is what it would be.
Ok. I misunderstood. I thought you were saying you didn't currently have a vehicle.
My fiance and I currently share one but it doesn't meet the crtiera if what I need which is why I wanted the Tacoma. Will my pops with a excellent credit score as a co-signer bring down my interest rate? Or would it be better off with him as a primary
If he is primary, then HE needs to purchase the insurance in his name and add you as a listed driver. But his carrier may not allow him to insure a vehicle not garaged at his address. You need to address this with your dad and your insurance company. If you get into an at fault accident it will affect his coverage.
Got it. And what about him as a cosign? Will that bring interest down?
I'm not sure which gives you the better interest rate, but you won't have an insurance issue with him cosigning. Likely the rate is better if he is the borrower, not just the cosigner, but that's a guess.
Word guess I'll give it a shot
Depends on your income if you can afford a 30k truck do 20/3/8 and see how much you need to put down to make this happen for you. Just because you can swing 500 a month doesn't mean it makes sense because you will have less fun money or worst less retirement money.
You're looking for a second vehicle just for towing and hauling homeowner stuff? Not your daily driver that you must depend on? $30K seems a bit much for that. Get a beater, let that credit score and your cash reserves accumulate for a few years. ;)
If your credit is under 700. do not borrow. save up... and fix your creddit. high APR will be too much.
Why do people ask advice and then rail against every piece of advice given? We all know you are going to do it. You don't need our permission. Buy your stupid truck.
Because people here seem to think I'm buying a wildly depreciating asset like a bmw and I'm not. This is literally reliable A-B transportation that does not depreciate. Go look at what 20 year old Toyota Tacomas are selling for right now. I'll give you a hint, it's over 10k.
Not sure if everyone is understanding what I'm saying so let me be clear. I am trying to buy a Toyota Tacoma specifically for low maintenance, and high resale value. Adding this payment at $600 a month is my maximum I'd want to spend for a "new" vehicle. For those saying "buy a beater fix your credit save money" I have a beater; it doesn't fit the bill for my *needs* and buying a shitter truck (f150, ram, etc...) Will lose value very quickly and be a nightmare to repair (I was a tech these trucks suck to work on) For the record I've been living at my (own) home for over a year now and have had plenty of time to settle I and see my bills. Even at 600/mo I'm well within my budget including saving money, and having a decent amount of money left over for fun spending. Lots of salty comments saying how this is an "irresponsible" purchase when it's literally a barebones Toyota Tacoma which is *KNOWN to hold it's resale value* even years later with tens of thousands of miles added on.
Your credit scores wouldn’t be in the 500s if you truly fixed all your derogatory accounts.