I would never recommend someone tying their home to a vehicle because you never know what will happen in life.
It seems that you already have your mind made up to do it so I believe you need to ask yourself if you really will have the ability to make extra payments every month. Just judging by your comments you already are not planning on making the extra payment each month so I would be careful. An extra $350 at Christmas time is nice but really isn't going to cover all of Christmas will it? That means that you only will make the min payment in Nov, Dec, and Jan. Then in the summer it would be nice to take a trip to the lake for a couple of days so there goes the extra payment in June July and August. My only point is most people are not disciplined enough to to do more than make the minimum payment because so many other things in life get in the way. Then you are just paying interest and pretty soon have a 5-8 year old truck that needs to be replaced that you still owe 30K on. Be careful everything that glitters is not gold.
It seems that you already have your mind made up to do it so I believe you need to ask yourself if you really will have the ability to make extra payments every month. Just judging by your comments you already are not planning on making the extra payment each month so I would be careful. An extra $350 at Christmas time is nice but really isn't going to cover all of Christmas will it? That means that you only will make the min payment in Nov, Dec, and Jan. Then in the summer it would be nice to take a trip to the lake for a couple of days so there goes the extra payment in June July and August. My only point is most people are not disciplined enough to to do more than make the minimum payment because so many other things in life get in the way. Then you are just paying interest and pretty soon have a 5-8 year old truck that needs to be replaced that you still owe 30K on. Be careful everything that glitters is not gold.