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You just got rid of your Tundra to save on gas and now you want to go back?

Personally, I'd keep the Subaru, pay it off and plan for the redesigned Tundra in probably 2014.

I'm sure you'll find other deals again.

52K on a 2011 is kind of a lot. My 07' almost has 52K on it.
This is an excellent point. You will get this then in a year or two the 2014 will come out and you will be kicking yourself. Deal with driving the Subaru until next year and then maybe you can look at a leftover 2013 vs. a redesigned 2014.
 

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Discussion Starter #22
So, I talked with my buddy and his co-worker. Even with knowing him, they dont move on their used car prices. The buy low and sell low, and judging by the asking price this is true. Trade in on my car they said was 18k, even my buddy was like, "c'mon man , that's it?". So needless to say, no dice. Going to have to do things the old fashioned way, with perseverance and savings (or paying off the car early). Its all good, no hard feelings, and like I told him, I'm not increasing my payment in order to do it. I appreciate all the great advice, I knew I would get both sides of the equation from you guys, which is why I asked. Gonna bank some money this summer hopefully doing side jobs so that not only can I cancel out my neg equity, but I also want to put a chunk down on the truck when I do get it. Now the real question is, when the time comes, New or Used, LOL!
 

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"The Midnight Modder"
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Two wrongs don't make a right. Don't know what your job security situation is right now but if you owe $10k more then it is worth, they are going to roll that into your new used truck. They will finance you for another 20 years and expect your children to pay off the loan after you die. As my nephew told his brother today, "Someone get him a straw, so he can suck it up"

I mean that in the most positive way possible. That Chevy guy may be your buddy, but he is still only out to make a commission off you. A real buddy would give you sound financial advice and tell you to keep on with the Subie payments. Pay more when you can to pay it off sooner and if you pay it off sooner, then consider a new or used Tundra. Though, I suspect that not car payments may help you to realize the former error of your ways.
 

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Having just graduated college, the only reason i bought my tundra is because i knew i wouldnt end upside down in it with the size of the down payment i made.

Swapping around loaned cars will most likely make your debt worse, unless you are swapping down of course. Dont let them fool you with the "$150/mo for 700 months!" game...... a few years down the road you'll be smacking yourself!

On the other hand... that sure is a perdy truck ;)
 

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If Toyota is offering 0% financing and $1000 rebate or better and you have a good chunk for a down payment, you can't beat free money/no interest. Used normally will kill you in interest payments where you will pay more for a 3 year old used truck then a new truck.
 

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Now the real question is, when the time comes, New or Used, LOL!

I am strongly considering getting away from brand new vehicles after this one. I am back and fourth about it and it will probably be 8-10 years before I have to think seriously about it.

First car was a 4 year old used truck that gave me 5 years of service with almost nothing but tires, breaks, and oil changes and was still soldiering on when I got rid of it at 107K.

Second vehicle was purchased brand new and was nothing but headaches, which mostly occured after the warranty expired.

The Tundra has done great in the past 3 years and I have not had a single hiccup. But I am starting to feel like there is really no great advantage that a brand new vehicle holds over a 2-3 year old one with under 40,000 miles on it. Based on my experiences with the build quality of newer vehicles you have about the same chances of running into the same problems in the first 10 years the vehicle is with you except with the used one you save several thousand dollars up front.
 

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"The Midnight Modder"
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If Toyota is offering 0% financing and $1000 rebate or better and you have a good chunk for a down payment, you can't beat free money/no interest. Used normally will kill you in interest payments where you will pay more for a 3 year old used truck then a new truck.
$10,000 negative equity added to your sale price and financed at 0% is like getting the truck at market price at 3-5% interest. It really is not interest free. Now if they take his subie, pay off his subie loan and give him a great deal on the Tundra at no interest, then that would be worth looking into. Sometimes, it takes a few years to recover from bad financial situations. OP said he is only a couple payments into his subie so he basically only paid the accruing interest and still owes pretty much all the original principal. In the mean time, it depreciated by $10K by just driving it off the lot.
 

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Shoki, Its a Sub, It shouldn't lose 10k driving it off the lot in 4 weeks, Your thinking of a FORD! What I was saying is: it is time to start making smarter investments and think about the decisions prior to making them. If he would have given himself 1 month to determine the sale of the Tundra he would still have it. Sometimes you just have to make the Call, let the cards ride and see where they fall. He has to quit making bad financial decisions. Its only in algebra that 2 negatives make a positive.
 

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Discussion Starter #33
I did actually get an ok deal on the subie itself, the problem was the neg equity from the Tundra at the time, that's why they had to do magic. No one wants to finance more then 120% of any vehicle, and I was over that threshold. I would probably run into the same problem again today. The subie actually only lost about 3k in equity since I got it, which isn't too bad. My buddy said I could still get 20k for it at another dealer, just not Balise, because they buy low, and sell low on all their used stuff. For a $23,000 just a few months ago, that's not too bad. At least I think... There will be no more rolling money around on vehicles for me tho. I lost money on the Tundra, and I was ready to lose money on the Subaru too quickly. Side jobs all summer should put me ahead of the game instead of being behind like I always am. Gonna hold on to the subie until all my other bills (school, credit cards, etc) are all at $0. Then it will be time for another Tundra.

For the record, I got the Subie for $22,000, MSRP $23 and change. At the time, the car had only been on dealer lots for about two weeks, because just about all of the first three orders the dealer put in had been claimed since December of last year. I was pretty happy with that, given the circumstances.
 

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No.
 

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IMO if you can swing the payments and still live well I would pull the trigger. Life is about living and enjoying the finer things, But can't you almost buy a new Tundra for that price?
 

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Discussion Starter #37
IMO if you can swing the payments and still live well I would pull the trigger. Life is about living and enjoying the finer things, But can't you almost buy a new Tundra for that price?
Now why did you have to go and say that to me? Lol. I can swing it now but I decided in Feb that it was too much to swing at the time.
 

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honestly buying that truck would be just plain dumb.
nothing you dont already know.
 
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