4Runner madness

Can't blame the old guy, 4Runner is worth the madness but $860 per month, holy moly, he should have put down some money!

https://youtu.be/ANyEBu4OBN0

 

Come On Dave, give the guy a break, he didn't buy a BMW or some crap!

 

She commented they rolled four or five other unpaid vehicle loans into the loan for a 4Runner.

I had buddy out of college so that. He had Camaro, Vette, Mustang and all sorts of new cars every two years. Traded them at a loss then rolled that loss into a new loan. So dumb an foolish but had to have the hot rods.

I feel bad for people that get caught up in debt. I was fortunate I guess coming up and getting educated about saving early on and I guess my accountant background made me somewhat frugal as well. Everyone is different I guess though. I count my blessings and at least can sleep each night.

 

Was he in the Army or Marines?

I remember living in Colorado Springs and the dealerships would do all sorts of creative predatory loans with double digit interest rates for the young kids at Fort Carson who wanted as sweet ass ride but had no money for it.

 

Don't forget the $230+ thousand dollar mortgage they have plus other big bills. They are literally drowning in dept. Unbelievable that at their, age to have such massive debt and have nothing but disability to fall back on.

 

He is turning 70 years old. He had been with the same company for 47 years. I believe he retired from the military.

 

Madness indeed. My favorite new car feature is a title in my name.

 

It’s tough to hear somebody going through that at their age. Im not sure if it’s a guy thing, or if I’ll feel differently when Im older, but I’d like to think I could shed possessions when needed to reduce debt, including a house.

It’s really cool to have cool shit, as long as you can manage any debt associated with it. But, once you feel like the debt is owning you, it’s time to let go. At that point you have literally sold yourself to the bank for your “posessions”

People make mistakes, and people dont always respond to their mistakes before it’s too late. That is why bankrupcy protection laws exist, and have existed in some form across societies for a long long time.

 

I totally agree, it’s not really “mine” until the title is clear in my name.

I cannot imagine the problems people will run into as inflation soars at 40 year highs and next year the fed expected to jump interest rates. More debt and more interest ughh

 

Big Dave Ramsey fan. My wife and I went through Ramsey's Financial Peace University about 10 years ago in our early 40s and dearly wish we would have lived by those principles starting in our 20s. Its why I can now pay cash for the new TRD ORP on order.

 

I guess that's why Toyota went to BMW when building the Supra. Makes total sense they are crap motors. Come on out to So cal and I'll show you my crappy M2 from the rear.

 

It may get ugly, and imagine how many people will be upside down on their car loans once used value go back down to normal. Repo men will be very busy.

 

The way they are priced, you can get some nice BMWs for less than some 4Runners.

But your claim makes no sense. Just about every vehicle on the road can outrun our fifth generations.

 

Isn't it so crazy that Toyota is banking so much money by selling old technology 4Runners! I guess some of us, like people on this forum, like old technology, and Toyota is taking advantage of us

 

If Toyota decides to delay the 6th generation 4Runner for another decade, most of us will be fine with it,

 

I am serious and not exaggerating. If you give me a BMW X5, Audi Q5, Acura MDX and other similar crap for free, and put a restriction that I cannot sell it or trade it, I AM NOT TAKING THEM.

 

I actually welcome some sort of hybrid technology in the next generation 4Runner. On the other hand, I do like old technology, as in overhead valves and pushrods. To me, the 4.0 has TOO much technology in it, with the overhead cams and vvt-i and all that.

 

You will hate a hybrid 4Runner. It will not be loud and noisy. This new Tundra, I read, sucks. 4Runner should be rough and noisy. When you turn it on, it should sound like a car not some computer lol

 

I used to listen to him, until he admitted that he was a millionaire under a year after declaring bankruptcy. He was a contractor, which means he effed all of his subs to save his rear end, and then was rich 12 months later. His current money-saving principals are sound and he's made far more money on preaching to us how to save money than he ever did on construction. I just can't get over how he climbed over the people he owed money to in order to get rich again. I won't listen to him now. People call him asking for his permission to buy a car they can afford and he ridicules them because they will have a car payment. Sorry...I don't agree. But, I'm not worth 50 million dollars like him either.

 

I also have an issue with him, and with all people who cherry pick the scriptures. He needs to talk less about Bible and all that. Religion has been misused so much that it is boring now when people quote scriptures. Dave is not living like Jesus so he should kindly stop quoting the Bible. Jesus would never own a Ford Raptor. He would be driving some freaking Honda Fit if he lived now. And by the way, I am not living like Muhammad either. The guy died dirt poor.

 

Reminds me of a Detroit ad during the classic Woodward cruise here.

 

Even his advice is only good for people who can't handle debt. I'll take the protection and rewards of credit cards all day long. And the benefits of a good credit score.

A millionaire telling poor people how to spend money. He says he was poor but he wasn't. He was broke. There's a difference.

 

Exactly.

I could buy a 4Runner cash, but why would I do that? Tie all my capital into a depreciating asset? Kinda dumb when I got 0% financing.

 

I'm debating this exact thing. I'm leaning toward paying cash, honestly. Financially I might do better otherwise, but it simplifies the process. And it's easier to justify a 50k truck if I don't have a car payment, lol.

 

My critique came off harsher than I intended.

It's ok to pay cash. It's ok to leverage. An $860/mo payment is fine too. All of that is subjective to you knowing your limits. When someone says, "$860 car payment and $300k house is insane," I am slightly triggered by the assumption they are making based on their experiences.

This year I bought a house more expensive than I planned for, but due to this crazy economy made 25% appreciation in a single year on it. In the end, part of that was luck, but also some planning using my limited resources, positioned in a way I thought might do us the most good.

There's about 4 billion ways to do this, some are even the right way

 

Who wouldve know these things would turn into appreciating assets?

 

$860/month is terrible if you bring home like $6000 a month like me. My rent is $1,200.
Put down $25,000 on 4Runner or don't buy it.

 

It's never a good idea to tell other people how to live their faith. If you don't agree with how he does it, don't follow his advice.

I don't think Jesus cared whether he was 'dirt poor' or not. His only financial advice was to give to those who were in need.

 

No I like his advice. But he should keep his faith to him, because he is actually not living the scriptures. And Jesus was dirt poor. And you can't stay rich anymore if you help every person in need. The planet is full of hungry people. One will lose all his/her billions if one decided to follow the advice of Jesus.

 

I never understood the people that walk into a dealership and offer to pay cash, like the dealer gives a damn how you pay for the car.

If there is 0% financing, I’m going to pay the minimum payment for five years and let the bank worry about it.

If I can’t get a great deal on the financing, I’ll finance it anyway to get a discount, and then pay the whole thing off within a year.