How in debt are you with your Tacoma?

Business expenses are completely different. For one its not taxed and two if a new vehicle can make you more money go at it.

 

Not really, do the math. my last vehicle was a Honda I bought for less than 5k. I drove it for 110,000 miles over 10 years and I have it for sale for 3500, and I will get it. My depreciation on the vehicle was less than 1500 over 10 years.
I'll feel lucky if my depreciation on my truck over 10 years is less than 20k. big difference between $150 per year vs $2,000 per year. I kept the figures on my vehicle costs and my operational costs were significantly less than the Toyota. I got nearly 2/3 better mileage, tires, oil, services were all cheaper and my repairs were minor, most years nothing and only a couple of times even approaching the 2k per year depreciation I expect the Tacoma will cost me. All in all I expect the Tacoma to cost me several multiple factors times what the previous Honda I drove cost. No way you can convince me that buying a new car is cheaper than buying a reliable used vehicle.

 

Business expenses aren't fully tax free in Canada

 

Apples and oranges my friend

 

I would walk before I spent $50k on a taco. I cried when I had to spend $32k. I keep my vehicles for 10 years and 120-150k miles. I pay vehicles off in 36 mos. I also buy rental property and pour most of my cash into those. Toys are ALWAYS cash. I hope to pay cash for the next vehicle in 5 years (wife's). If interest is high then I will, if it is still cheap, then I will borrow. I refuse to be owned by anything. The financials in the USA are disgusting. I don't drink $5 coffee, and I don't wear designer anything. At age 37 I own more things outright than most 60yr olds. I rarely but anything that I can't sell for more than I have in it. Always remember...
An item is worth exactly what someone is willing to pay on the day you need rid of it!!!

 

lol gotcha.. ya $22K USD after taxes for a Paramedic.. its hard to make it when people at fast food are asking for more than i make an hour haha.. i may quit saving lives and go make money flipping burgers... J/K.. i love my job

 

$50K CDN is $37K USD

 

Thanks again for the conversion to freedom units.. I shoulda ALL CAPSed that

 

that exchange rate is a killer right now, you guys should just print it like toilet paper and pretend that it has no adverse effects... It's working wonders down here.

 

60 Pascals = 0.45 Torrs

 

Yes, but you guys use metric measurements... It's way easier to throw 12 at the old lady north of the border!

 

Not really

Well I'm 1/2 and 1/2

 

9er is doing great! took the ole girl out to the snake this past saturday.

I dont risk my money period, some say its dumb... but i have more money in the bank than anyone i know.

 

An old timer told me...
In every town the two nicest buildings are the bank and the church... You shouldn't trust either one with money!

 

same boat, same age. I'm ok with the taco as an investment. it's not putting me under

 

YUP! imagine that!

 

Bank got your money. They making momey/taking risk with your money while your money probably losing money to the inflation basically. It's all risk to some degree. IMO 1-2% loan sounds attractive when you can get 4% return in stable funds.

 

100% of the time its the best option. Always. And most of the time its actually an achievable option. A $20K to $40K vehicle is never a real honest to gawd necessity unless you are self employed and in a very limited number of businesses. I make decent money, am over 50 years old, and my 11 is the only new vehicle I ever purchased. I work with a guy that easily makes over $150K and he has never spent more than $10K on a used vehicle, usually far less, and in all the years I have known him he has never so much as been late to work. He doesn't turn wrenches eirher. Not picking on you, just pointing out that there is a big difference between wants and real needs and folks can rationalize just about anything to make the two match up.

 

Super proud for paying cash for a truck









Has a 6% mortgage.



As expensive as these damn trucks are these days it's pretty hard to pay cash for them. A dozen or so years ago you could almost buy a house in my area for what a new Tacoma sells for.

 

paid it all at one time