What would you request?

[JayceeP]

A Canadian Federal judge thought this kind of breach was worth $21,000... and apparently that was just for an unauthorized credit check.

CBC My Region - 'Bell is not above the law,' says man awarded for privacy breach

 

[NJSalsaRed]

From myfico.com

Will my FICO Score drop if I apply for new credit?
If it does, it probably won't drop much. If you apply for several credit cards within a short period of time, multiple inquiries will appear on your report. Looking for new credit can equate with higher risk, but most Credit Scores are not affected by multiple inquiries from auto, mortgage or student loan lenders within a short period of time. Typically, these are treated as a single inquiry and will have little impact on the credit score.

You have nothing to worry about, the extended warranty offering was a gift.

 

[Jeff M]

Your reasoning isn't sound ? You are comparing financing consumables where the value is completely gone vs a vehicle w/ long term residual value. A vehicle is an asset, a depreciating asset, but an asset nonetheless. If you can finance for less than the current rate of inflation it doesn't make sense to use your cash.

If what you were buying was a consumable - say a $45k bottle of wine that you were going to drink (not use as an investment) or purchase a $45k vacation trip then your logic is sound, you should not finance regardless of interest rate.

David

Couldn't have said it better myself.

 

[Lineman]

It always makes sense to pay the Cash. We need immediate gratification that's why we finance, or we don't have the cash up front. When you finance you have just become a slave to a Bank. When that Bank defaults, taxpayers bail them out, hence the Federal Reserve, which isn't Federal.

Sounds like you're a Banker or work for the Federal Reserve. Yes a vehicle could truly be considered and asset if it isn't owned by the Bank. You don't own the vehicle if you're making payments to a Bank. If you have the title, the vehicle is truly an asset. The Banks play this game and when they default, WE "taxpayers" end up paying them out.

A vehicle, typical 4Runner is going to lose money. So to finance it you're paying interest to a Bank for a depreciating vehicle. Doesn't make sense. But the Banks want you to finance and if you don't, now we're in a depression as they like to say.

Some will say "who has $45k lying around"? Well if you don't then you shouldn't be buying the vehicle. Others will say "what about building credit"? You don't need credit or that made up score if you're paying cash for everything.

If we paid cash for everything we wouldn't have the deficit our country has. If we all went to the Bank to withdrawl all our money the same day the Banks would go Bankrupt. Because the money isn't there. Live as a Wolf and not a Sheep. When the government someday makes Cash disappear because no on wants to use it anymore, that's when I go off the grid.

But I think you should take that 6/75 warrantee, lol.

Your reasoning isn't sound ? You are comparing financing consumables where the value is completely gone vs a vehicle w/ long term residual value. A vehicle is an asset, a depreciating asset, but an asset nonetheless. If you can finance for less than the current rate of inflation it doesn't make sense to use your cash.

If what you were buying was a consumable - say a $45k bottle of wine that you were going to drink (not use as an investment) or purchase a $45k vacation trip then your logic is sound, you should not finance regardless of interest rate.

David

 

[dekeman]

^^ Uh oh.....

 

[Curt Sauve]

It always makes sense to pay the Cash. We need immediate gratification that's why we finance, or we don't have the cash up front. When you finance you have just become a slave to a Bank. When that Bank defaults, taxpayers bail them out, hence the Federal Reserve, which isn't Federal.

Sounds like you're a Banker or work for the Federal Reserve. Yes a vehicle could truly be considered and asset if it isn't owned by the Bank. You don't own the vehicle if you're making payments to a Bank. If you have the title, the vehicle is truly an asset. The Banks play this game and when they default, WE "taxpayers" end up paying them out.

A vehicle, typical 4Runner is going to lose money. So to finance it you're paying interest to a Bank for a depreciating vehicle. Doesn't make sense. But the Banks want you to finance and if you don't, now we're in a depression as they like to say.

Some will say "who has $45k lying around"? Well if you don't then you shouldn't be buying the vehicle. Others will say "what about building credit"? You don't need credit or that made up score if you're paying cash for everything.

If we paid cash for everything we wouldn't have the deficit our country has. If we all went to the Bank to withdrawl all our money the same day the Banks would go Bankrupt. Because the money isn't there. Live as a Wolf and not a Sheep. When the government someday makes Cash disappear because no on wants to use it anymore, that's when I go off the grid.

But I think you should take that 6/75 warrantee, lol.

You forgot to mention to keep a loaded pistol and a tinfoil hat within arms reach. I'll keep my 45G in my portfolio, and let the bank risk their 45G on my truck @1.9%, but thanks anyway, and watch out for black helicopters

 

[Canazes9]

It always makes sense to pay the Cash. We need immediate gratification that's why we finance, or we don't have the cash up front. When you finance you have just become a slave to a Bank. When that Bank defaults, taxpayers bail them out, hence the Federal Reserve, which isn't Federal.

Sounds like you're a Banker or work for the Federal Reserve. Yes a vehicle could truly be considered and asset if it isn't owned by the Bank. You don't own the vehicle if you're making payments to a Bank. If you have the title, the vehicle is truly an asset. The Banks play this game and when they default, WE "taxpayers" end up paying them out.

A vehicle, typical 4Runner is going to lose money. So to finance it you're paying interest to a Bank for a depreciating vehicle. Doesn't make sense. But the Banks want you to finance and if you don't, now we're in a depression as they like to say.

Some will say "who has $45k lying around"? Well if you don't then you shouldn't be buying the vehicle. Others will say "what about building credit"? You don't need credit or that made up score if you're paying cash for everything.

If we paid cash for everything we wouldn't have the deficit our country has. If we all went to the Bank to withdrawl all our money the same day the Banks would go Bankrupt. Because the money isn't there. Live as a Wolf and not a Sheep. When the government someday makes Cash disappear because no on wants to use it anymore, that's when I go off the grid.

But I think you should take that 6/75 warrantee, lol.

There is so much silliness in your post I'm not going to spend a whole lot of time trying to answer it. W/o a banking system capitalism, our standard of living and the entire under pinnings of our society would cease to exist.

I never suggested buying a vehicle you (or anyone else) couldn't afford. I merely stated that given a situation where you have $45k in cash on hand and have the credit to finance the purchase at a rate that's well below the rate of inflation it is not fiscally wise to pay cash. Finance the purchase at terms that will have it payed off well ahead of the depreciation curve and keep your cash on hand. Your cash could be put to work in safe investments like tax free municipal bonds where it would earn over double the current Toyota financing charge. Or it could be kept as liquid cash as "just in case" for whatever your life needs are. As long as you have the cash - you have the freedom to choose what to do.

I'm not a banker, and I don't work in financial systems. I do know how capitalism works and I know the golden rule of capitalism - Always use someone else's money. The modern day "banks are evil", "corporations are evil" movement is lunacy of the highest order. Biting the hand that feeds....

Not going to respond again, I've had my say, please have the last word.....

David

 

[1engineer]

It always makes sense to pay the Cash. We need immediate gratification that's why we finance, or we don't have the cash up front. When you finance you have just become a slave to a Bank. When that Bank defaults, taxpayers bail them out, hence the Federal Reserve, which isn't Federal.

Sounds like you're a Banker or work for the Federal Reserve. Yes a vehicle could truly be considered and asset if it isn't owned by the Bank. You don't own the vehicle if you're making payments to a Bank. If you have the title, the vehicle is truly an asset. The Banks play this game and when they default, WE "taxpayers" end up paying them out.

A vehicle, typical 4Runner is going to lose money. So to finance it you're paying interest to a Bank for a depreciating vehicle. Doesn't make sense. But the Banks want you to finance and if you don't, now we're in a depression as they like to say.

Some will say "who has $45k lying around"? Well if you don't then you shouldn't be buying the vehicle. Others will say "what about building credit"? You don't need credit or that made up score if you're paying cash for everything.

If we paid cash for everything we wouldn't have the deficit our country has. If we all went to the Bank to withdrawl all our money the same day the Banks would go Bankrupt. Because the money isn't there. Live as a Wolf and not a Sheep. When the government someday makes Cash disappear because no on wants to use it anymore, that's when I go off the grid.

But I think you should take that 6/75 warrantee, lol.

????...!!!!!..._____-----???!!!

 

[Sgt. Rock]

An extra three years of "peace -of-mind" to make up for minimal , if any, harm to your credit score. That's a good deal. If you decide to sell the truck in less than 6 years, the warrantee will help get a better price. That's why I paid for the extended warrantee...peace-of-mind and enhanced resale value!

 

[Bay33saw]

Guys, I previously worked in finance for over 5 years and understand credit very clearly. I have great credit. That's why I told Toyota to pull it once, just to get an additional $750 off the sticker! They gave me the same low rate as USAA, so I'd be stupid not to do so. My frustration is that I was explicit with them about my terms, and they did not follow them. I am pissed that they couldn't follow simple instruction. So, do you think the 6yr/75k warranty is fair compensation? or would you try to push for something more or of similar value instead of the warranty?

I get your mad for them NOT following your specific request (not knowingly to them they they didn't know you were in a finance position in the past hence your SIMPLE request)
However the deed has been done and in all fairness to the dealership they are offering an olive branch of sort.
What's more important to you, new wheels or a platinum warranty? To me it would be the piece of mind of a warranty to you maybe not.
Also remember they are only going to give in so much, I doubt they will give you a full icon suspension kit or a TRD supercharger.
At the end of the day you need to decide what it's worth to you and how much it's going to cost them.

 

[lilsid112]

Always use someone else's money.

Well put! Why dump 45k when you can barrow at a low interest rate while you invest your money else where and have a greater return.