To trade in or not

This is fine what you said.... however, after your truck is paid off and you end up keeping it for 10 years, eventually you will have to replace it. Unless you put enough money away each month to buy your next vehicle, you will probably have to take out a loan to replace. Either way, you are making payments to a bank (low interest these days) or making payments to yourself to buy another when the time comes. It is almost like death and taxes, no way to avoid.... unless you walk/bike, take public transportation ($) or go Jeremiah Johnson on us.

 

I agree completely and that's how my father taught me to pay for a vehicle. The first vehicle I had to finance for 36 months. I made that payment for seven years in a car fund.,

My next vehicle was used and a cash deal but I still kept making payments, This time to myself. To this day i keep a separate account for our vehicles and pay into it. ( I did take a 30 month 1.5% loan for $28500 on my 16) and would have saved that money anyway if I didn't finance. But 1.5% money for 30 months is too good to pass up.

Even when paying cash one should PAY THEMSELVES BACK, and never have a high interest loans to deal with again. Be your own bank. I paid my first house off in 15 years and continued making the payment ever since them. Its like getting a tax free raise. Our next house was a cash deal and we pay ourselves back for it. If you don't have debt and you have good income you cannot help but save it in separate accounts. We have not had a bank owned house payment since 1992.I bought my first new car at age 42. Retired 15 years later,

 

How much do you think the Tacoma Nav system is worth..?

 

Just get the new one
Do you really want to stare everytime you see one and think I should or shouldn't
It's worth it

 

I had a 2004 with 93k miles. At the rate I drive it would have lasted another 15 years at least. I only justified buying a new one by the upgraded safety features. But I'm a cheap bastard and keep my vehicles a long time. That's part of the reason I can pay cash for whatever I buy. Keep your truck dude.

 

Let's see, I paid 17k cash for my 2004 and sold it for 13k when I bought my 16. If I am doing the math right, that's roughly $13 a month?

 

My bad, $28/month

 

I am willing to cost avg $350 a month in cost/depreciation owning a vehicle. That keeps me in new vehicles every two to three years. But ONLY if they are Hondas, Toyotas or Lexus.

My Tacoma will have spent $12600 of its original cost of $33,900 (including taxes) That leaves a "payoff "of $21,300. So what do you think a 3 year old 2WD TRD Sport FA JBL Towing with 18K will be worth then? Probably more than $21300. Further Reducing my cost to own.

 

To each his own. I prefer to invest my money in an appreciating vs depreciating asset.

 

I did what you are doing for 40 years.....and finally have plenty invested at low risk. We achieved a point where we don't spend more than a quarter of our income every month. Most of it on insurances and eating out.

That's because we lived like you do for 40 years. Hell I did not have my first new vehicle until 42 and waited until way after the first house was paid off. So we can be a little foolish now with our money and buy things we would never have thought to buy before. I have watches that cost more than the car I traded at 42 for a new Infiniti. We sacrificed a long time with six year old used cars and small homes and saved and invested. Paid cash to build our home here which is not big by most standards at all. Had a couple of my bucket list Corvettes, Harleys, and settled on the MX 5.

Now at 61 her at 53 after being retired for 6 years we can enjoy being a tad foolish with our $$$

And although I did not need to do it I took a 30 month loan for $28500 at 1.5% interest. Expecting interest rates to rise soon, A great deal will become a better deal

 

Not that you need my approval but I totally respect your position. I was just trying to answer the OP's question and I don't think he is in the same position as you. But I am wrong now and then according to my wife

 

Sounds like the perfect setup, I haven't heard the JBL system but like yourself I love a great sound system and as far as addons I will probably do roll up tonneau, nerf bars and box matt. I added a lot more on my 2011 but you will never get your money back by adding on new intake, exhaust etc etc.

 

I don't own them long...But, I own them 1st.

 

And we are usually the perfect team. You like new and I like $$$$$$$$.

Is there a way to change my moniker here to OCB for old cheap bastard?

I did break out the crowbar to the wallet to buy my 2016. Second brand new vehicle for my wife and I in 32 years. The first was a real POS so hopefully this will work out better.

 

My wife is exactly the same way

 

Congratulations.

I could never live with someone who I had to "check in" with or ask permission, before buying a car or truck I want.... or a phone or watch or anything. Her name isn't on anything even the house. She hates going places to buy stuff that requires negotiation so I have to put everything in my name.


She knows I am not going to bankrupt us, I would prefer she is always in a newer car though because she is a musician and works late a couple nights a week , She is not ready to give up that career yet. I decided to lease hers for business reasons. But when it comes time to turn it in I will probably be writing a check for it.......Ho Hum

I don't question what she spends and she doesn't question my spending and only gets upset because never knows what to buy for me for Christmas or Birthdays because I get everything I want. I am/was a watch enthusiast. I pared my collection down to six I really like from 13. From Seikos and Citizens to Panerai Tudors, BLNR and a Submariner.

I can't buy her real jewelry or a really nice watch because she sees no value in either and is afraid to wear expensive shiny stuff We had a replica of her wedding rings made so she does not have to wear the real thing to her gigs. She reuses baggies and paper towels......Drives me crazy She won't throw anything away. I convinced her to Give things we don't use away to the Salvation Army or other people.......She is turning around on that,

She also has a carry licence and feels protected as she carries everywhere, I don;t particularly care for that but I don't mind that because as you may know anyone looking to jump us will jump the guy first giving her time to react,