Why You Should NEVER Finance an Overland Rig

Hopefully you found this educational, and not spiteful. Your finances are your finances. That being said, this is the math, the ideas, and the principles by which I run my own finances and evaluate vehicles.

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Code: 208tyler

Methods:

Cheapest 10 4WD Tacomas on autotrader within 50 miles of boise or, if not enough volume, cheapest 10 4WD Tacomas within 500 miles. If not 500 miles, then nationwide. If not on autotrader, then we use cars.com nationwide 4x4's. Cars.com won't let you sort by trim. Original MSRP derived from 4WD double cab 5' bed SR5. MSRP (used for some depreciation calcs) found on Kelley Blue Book. Kelley blue book only shows bed length and doors for pricing. Inflation adjustment from usinflationcalculator

Loan: 5 Years, 20% down, Interest rates from U.S News & world report, 600-699 credit score. Loan data from calculator.net. Value at loan payoff is from car edge.com, except for the 2009 which is straight depreciated.

Value at loan payoff is inflation adjusted at 4% per year.

For those of you wandering, YES, due to inflation, it gets "easier" to pay down your loan as time goes on thanks to inflation. Your payment stays the same number while the value of your cash goes down. Of course, that's only useful to you if your income is increasing- if your vehicle is still the same % of your income for the next 5 years, who cares that your payment is "less" after inflation adjusting. Is that really the hill you want to die on?
You're doubtless losing loads of cash on a 5 year loan on a vehicle.

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If you would like to see the excel sheet, please email me at the email listed on my "about" page.

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