Diamondbackjo's Tahoe.

[MACHO]

I leave mine up and flip them off. Never been pulled over...

Seriously tho, DBj, your ride is looking great!! Those wheels are huge!

 

[diamondbackjo]

I leave mine up and flip them off. Never been pulled over...

Seriously tho, DBj, your ride is looking great!! Those wheels are huge!

Haha that's how I was.

And thanks a lot man!

 

[Regency]

I leave mine up and flip them off. Never been pulled over...

Seriously tho, DBj, your ride is looking great!! Those wheels are huge!

Hope you don't eat your wordss...

 

[MACHO]

It was a joke Rege as in sarcasm... love ya bud!

 

[diamondbackjo]

so no updates on the tahoe as of right now..
this has nothing to do with the build of the tahoe, but i need some help, advice or comments.

i did some remodeling/updating on my home and took out a loan against my Tahoe.... i didn't check the value of my tahoe because i just assumed it was still high but i'm upside down in it now and have no idea what to do?.....

 

[Goodinblack]

You are keeping the truck right?

 

[Modded]

so no updates on the tahoe as of right now..
this has nothing to do with the build of the tahoe, but i need some help, advice or comments.

i did some remodeling/updating on my home and took out a loan against my Tahoe.... i didn't check the value of my tahoe because i just assumed it was still high but i'm upside down in it now and have no idea what to do?.....

So basically you owe more on it than it is worth?
If so, the best advice is to sell it soon. You will only lose more and more $$$ to depreciation if you keep it.
If the new models roll out before you do sell it, then you will take an even larger L. Mainly because the new models will more than likely cause the current generation to flood the market within 3-4 months of the 2014 being dealer available. This will lead to you having to reduce your price to compete with the thousands of other Tahoes available.

 

[mjenk430]

My advice would be to keep it and keep making your payments. At some point the amount you owe will be less than what it is worth. For example, in 3-5 years, when its paid off, you will owe zero and it will still be worth something. That's when the truck starts paying off, paid for and driving for free.

That's coming from someone who only buys a new vehicle every 5-6 years. My daily driver is a 07 accord with 150000 miles that just got paid off last year. Now I drive it for free and leave the new hoe in the garage during the week.

 

[Goodinblack]

Neo has a valid point.

However ...... in the light of the fact that you signed your name to the loan in good faith....... I would say keep the truck.... pay it off.... mod it.... enjoy it...... then sell when you tire of it and have gotten your intended use out of it. JMHO

From my CB Radio.

 

[mjenk430]

Yeah, what Lee said

Buying a vehicle isn't an investment like buying a house. As soon as you roll off the lot, you owe more than what it's worth (unless you make a big down payment).

 

[Goodinblack]

Thanks ^^^^

From my CB Radio.

 

[Modded]

Yeah, what Lee said

Buying a vehicle isn't an investment like buying a house. As soon as you roll off the lot, you owe more than what it's worth (unless you make a big down payment).

The points you made are valid!
I know that cars are depreciating assets, but it all comes down to how much he is upside down on the Tahoe.
For example, if he owes the creditor $27k, and the Tahoe is worth only $19k or so, he is better off getting rid of it unless he plans on keeping if for a real long time.
He could remove the custom parts, sell it, repay the creditor, then start again with a different Tahoe (maybe higher mileage and/or older model year) that will not have him so upside down.
Then he could also reinstall his parts and know he saved a couple of thousand.

 

[Goodinblack]

Again Neo..... excellent points good sir.

I agree with you too on the math.

However, all these cars are hemorrhaging assets. I say man up and pay what one signed for. Something to be said for personal responsibility.



From my CB Radio.

 

[mjenk430]

You said you took out a loan against the tahoe for remodeling? I didn't know you could do that? Was the truck paid for before the new loan?

Assuming the remodeling increased the value of your home, you could get a home equity loan and use that money to pay off the tahoe. Probably get a lower rate, and it's tax deductible? :shrugs: just an idea...

 

[Modded]

Again Neo..... excellent points good sir.

I agree with you too on the math.

However, all these cars are hemorrhaging assets. I say man up and pay what one signed for. Something to be said for personal responsibility.



From my CB Radio.

 

[diamondbackjo]

all good points and thanks for the advice... i'm just trying to get all my ducks in a row.

and no, i'm not that far upside down in it. i'm just afraid that as more miles go on it the less it's gonna be worth. then i'm really screwed. and i highly doubt i will own this vehicle in a few years when it's completely paid off. i'll figure something out...but until then..i keep being irresponsible and keep ordering parts!!

 

[Goodinblack]

Uhhh.....yeah.

That's the spirit.


From my CB Radio.

 

[diamondbackjo]

well, after doing a lot of trading stuff.... I ended up with a set of 24" chrome Boss 330's with almost brand new tires. I know it would be hard to look at my truck going from 26" slides to 24" 330's.... still don't know what I'm going to do.... this was a pointless post but the only update on parts.

 

[YuCanada]

well, after doing a lot of trading stuff.... I ended up with a set of 24" chrome Boss 330's with almost brand new tires. I know it would be hard to look at my truck going from 26" slides to 24" 330's.... still don't know what I'm going to do.... this was a pointless post but the only update on parts.

I loved your slides

 

[diamondbackjo]

I loved your slides

they're still on it. I'm very indecisive. the 24's are just sitting in my shed.