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Pricing and DealersDiscussions that are specific to vehicle pricing, preferred dealer pricing, current incentives, rebates, and experiences.
This is a discussion thread titled "Give up my tundra?", within the Pricing and Dealers forum, part of the Marketplace Forums category.
If i return my tundra to the bank?Is a big problem?I think i don't want make more payments of $547.00 a month + gas+ insurance.My credit goin downhill?It's a nigthmare?
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2007 DC,Blue strike metallic,BBS rims,3rd ligth cover,x-sp,trd,calipers painted in blue.Chrome strips around the tailgate,,bug shield,wind deflectors.Side bed rails.G2 bakflip cover.TRD CAI,Alpine 2-1023d woofer,6x9 front dr,and 6x5 back dr speakers.1 Hifonics amp 4 channels,1-1000 wtts crunch amp for woofers.Dynamat all dr's,and back wall.Head ligths paint mod in black. Custom box 2 -10" woofers by Tech12volts.Chrome towing mirror covers,tail gate handle chrome cover,dr handle chrome cover.Billet grill top and bottom and bumper insert.Custom made dr sill's and dr pillar overlay by Billet technology.Stebel horn.More to come.
I would look at all options like selling etc. before turning it in. You are still responsible for the difference in the bank value and what you owe. I am sure you are totally upside down with all the upgrades you have done. I would look at a private party sale, you may get lucky.
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Benjamin Franklin - "He who shall introduce into public affairs the principles of primitive Christianity will change the face of the world."
George Washington - "It is the duty of all nations to acknowledge the Providence of Almighty God, to obey His will, to be grateful for His benefits, and humbly to implore His protection and favor."
John Hancock - "Let us humbly commit our righteous cause to the great Lord of the Universe...Let us joyfully leave our concerns in the hands of Him who raises up and puts down the empires and kingdoms of the earth as He pleases."
You said that the bank don't take the whole balance back?Only the value in the market?
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2007 DC,Blue strike metallic,BBS rims,3rd ligth cover,x-sp,trd,calipers painted in blue.Chrome strips around the tailgate,,bug shield,wind deflectors.Side bed rails.G2 bakflip cover.TRD CAI,Alpine 2-1023d woofer,6x9 front dr,and 6x5 back dr speakers.1 Hifonics amp 4 channels,1-1000 wtts crunch amp for woofers.Dynamat all dr's,and back wall.Head ligths paint mod in black. Custom box 2 -10" woofers by Tech12volts.Chrome towing mirror covers,tail gate handle chrome cover,dr handle chrome cover.Billet grill top and bottom and bumper insert.Custom made dr sill's and dr pillar overlay by Billet technology.Stebel horn.More to come.
You said that the bank don't take the whole balance back?Only the value in the market?
If you owe 30 and the bank unloads it for 20 you are still liable for those 10gs.
You can do better selling it yourself or trading it.
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Benjamin Franklin - "He who shall introduce into public affairs the principles of primitive Christianity will change the face of the world."
George Washington - "It is the duty of all nations to acknowledge the Providence of Almighty God, to obey His will, to be grateful for His benefits, and humbly to implore His protection and favor."
John Hancock - "Let us humbly commit our righteous cause to the great Lord of the Universe...Let us joyfully leave our concerns in the hands of Him who raises up and puts down the empires and kingdoms of the earth as He pleases."
eYou need to try and sell it for what you owe on thr truck. If you can't do that and your credit is still ok you may be able to refinance the balance and maybe lower your payment. If you let it go back to the bank your credit is going to be screwed for at least five yrs. and more like 7 yrs. Also you will not be able to finance another car for a while and you insurance can encrease because of a bad credit rating. Credit can have an effect on things like getting a job also. If there is any way to work around bad credit that is the way to go. If you turn it back to the bank your credit is gone!
Thank's for all the replies.I don't want my credit screw,my score is around the 750.Only was triying to save some for my 401k.But i really love my truck.And after paying off like 3 cars in the past.I know the feeling of not making a big check @ the end of the month.Thank's anyways.
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2007 DC,Blue strike metallic,BBS rims,3rd ligth cover,x-sp,trd,calipers painted in blue.Chrome strips around the tailgate,,bug shield,wind deflectors.Side bed rails.G2 bakflip cover.TRD CAI,Alpine 2-1023d woofer,6x9 front dr,and 6x5 back dr speakers.1 Hifonics amp 4 channels,1-1000 wtts crunch amp for woofers.Dynamat all dr's,and back wall.Head ligths paint mod in black. Custom box 2 -10" woofers by Tech12volts.Chrome towing mirror covers,tail gate handle chrome cover,dr handle chrome cover.Billet grill top and bottom and bumper insert.Custom made dr sill's and dr pillar overlay by Billet technology.Stebel horn.More to come.
Turning your vehicle in "voluntarily" without completing your financial obligation is still considered a "repo." Makes no difference whether you turn in, or they hire a company to come take it from you... kiss your 750 FICO down the tubes!
As long as you can make the monthly payments, keep paying them on time. Not sure if you put any money down, but if you put little or nothing down, you're gonna' have to hang onto the truck for awhile as you'll be "upside down" as the prevoius member so explained.
Also, don't forget that if you don't pay the bank for the deficiency between what you owe minus what they sell it for (wholesale), you may very well get a 1099 form for the loan that was "forgiven" which means you will have to pay income tax on that amount.
You've got a lot of mods there which means there is even more value that would go down the drain if you gave up the truck or sold it. I imagine that if you left your truck mostly stock you would have had plenty of cash available to make payments and buy gas.
Maybe this thread really does belong in the Tundra forum as advice for people who are contemplating adding expensive mods that they may later regret. Or, is the general Tundra forum only for discussing the pros of modifications and not the cons?
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2007 5.7 CrewMax Limited 2WD; Pyrite Mica/ Red Rock Leather
20" Alloy | Nav-JBL | Moonroof | Sonar | Cold Kit | Daytime Running Lights | BedRug | ConsoleVault | SoftTopper | TRD sway bar | Weatherguard Tool Box
NAV Mods: Speed Pulse Generator | AUX video input
Buy your truck outside of the Gulf States Toyota monopoly if you don't want to compromise.
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Give up my tundra?
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