Talk me out of trading 2017 for 2019

Getting more space today just in case you happen to get married and have kids someday in the future does not really sound like a good reason, but its your money.

 

Isn’t diesel eh?

 

Anybody else pooping right meow?

 

You're single and no kids? Fuck that get a second gen, 35s, and wheel the hell out of it. Then buy a fun DD
You could do alot better than $500 month wrapped up in a truck

 

Keep the truck. Forget about a family. Family comes with a lot of unwanted and costly features.

 

My last Tacoma didn’t loose $10k in 10 years you are willing to take nearly that after 2?

 

He made 2 years worth of payments that will go away. Not at all free.

To OP: wait until the Tacoma is different enough to warrant trading. Or set up an alert for a used 2017 DCLB that shows up. Then trade for that for like 3k difference instead of 12k.

Or I got a buddy selling his older F350 diesel supercab 8' longbed if you need the space. For like $6k lol.

 

I don’t make a lot of money and paid my truck off in a year. I didn’t want a 6yr payment, I didn’t want a 4year payment. I couldn’t imagine having one for 8 years.

Keep your truck. Pay it off early and stop giving them your money.

Also, you’re paying extra on interest I’m assuming for swapping trucks constantly. Pick one. Pay it off. Save up for something else when it’s paid off. The extra 24months of payments would be a great down payment for something else or for boosting your savings account.

 

You do not buy a vehicle now for a family you don’t have.

And I gotta tell you, the Tacoma is a bad family vehicle. I’m planning on getting another vehicle when my spouse and I have kids. The Tacoma will not be our regular family vehicle. Its just too small and impractical for baby and baby accessory hauling (I have a DCLB).

If the double cab is that important there are plenty of 2nd Gens or even 1st Gens available that you can get.

You are trying really hard to come up with excuses to throw $12,000 out the window.

 

Keep what you have, as soon as you pay it off, keep putting your current payment in a savings account. Imagine using that extra $11k (if you only save for 2 years after you pay it off) plus the trade in of your current truck and what you can afford then (and what your monthly payment will be).

When you go in for oil changes, do not go through the showroom again.

 

12k ain't worth it imo, specially since you don't need the extra space right away.

You are better off selling your truck privately and buying a used 3rd gen double cab with around the same mileage as yours for 3-4k more.

 

I don't think its as simple as you make it. I'm a fellow cheap ass, but not as advanced. I think its situational and I think your advice is aimed for those that generally act like they hate their wallets. If they find any money in it they get pissed.

So lets say a person doesn't pay the bank and pays themselves... you still need transportation. I'll assume most of us have a car or something. So is it a piece of crap or still perfectly fine? Lets say its a piece of crap. I'll use some of my real world numbers here.

Truck payment $483 per month over 72 months. 1.9% APR. Total interest paid over 6 years is $1,932.00.
Previous vehicle 2003 Chevy Trailblazer with 180k miles, owned it 4 years, paid cash, do all my own maintenance. Starting to need some decent repairs to consider reliable.

If I were to pay myself my $483 per month for 6 years to save up for a truck, what costs could I incur over those 6 years driving my current vehicle? Is it more than the $1,932 I'll pay in interest over 6 years? Quite possible. Maybe I'll only spend $700, but spend some time on the side of the road in western Kansas.

I'd say its more of an opportunity cost scenario. In the scenario from the OP, I'd say you are right. And you are saying a reliable 2nd gen instead of a 15 year old Chevy.

 

Looks like the solid consensus here is to keep the truck and worry about other necessity down the road. To be fair, I have to say I don't think i was ever close to doing the deal, just wanted some input which was definitely put into consideration! Save the money and for now the 3rd guy has the option of sitting in the jump seat or the truck bed lol.

 

Why did you buy a access cab to begin with? Should have thought down the road 2 years ago.

I like access cabs best.

 

I've always tried to buy the smallest cab available so I don't have to drive everyone around. Plus that usually nets me the longer bed.

 

Had an access cab frontier and wanted to go with similar bed length. Didn't put much consideration into the DCLB. Don't know why now that I'm looking back on it..

 

I am not really in to driving old cars and enjoy having a new car, so I am fine knowing that I will always have a car payment. Life is too short to not enjoy it. If you can afford it, and want it, do it.

 

How I look at all decisions like this is, what could I buy or do with that $12k saved? I could buy a boat, 2 motorcycles, a camper, a play car like a turbo miata, or take 4-6 trips to hawaii. This jolts me out of it and I always just put the extra in savings or invest it.

 

Until you're 60, grumpy and no one around to wipe your ass.

 

As in a previous post I said I will not be relying on my Tacoma for a family vehicle. I still want to keep it though. So I have two options:
Sell the Tacoma and buy an F150
Buy with cash a minivan

Plan is for kids in 5 years.
I have 5 years to save for either a minivan or the balance between the sale of the truck and the purchase of another. Plenty of time to save for an obvious forseeable event.

Cost of operating my truck in the meantime is irrelevent. As you said you need a vehicle, so insurance, registration, gas, and maintinence on a reasonable vehicle is just a fact of life you pay regardless.

You can manipulate numbers all you want to justify going into debt so you can have what you want now rather than actually wait until you have earned it.

No one NEEDS a brand new vehicle, you just need a vehicle. $5,000 cash will get you in a vehicle thats just fine for now and it doesn’t hurt your ability to set aside cash to upgrade later. Especially considering older used cars depreciate much slower than new ones, so you waste less of your $5,000 on the older vehicle than the $40k on the new one.

I have paid cash for vehicles my whole life. I’ve only bought used. I’ve not been left on the side of the road in Kansas because of it.
Going into debt hurts people financially, period. There is no but and is no exception.

The fear tactic of a POS car is crap. I can afford a trans and engine rebuild on my truck and buy my minivan in 5 years and still be lightyears ahead of buying a brand new $40k truck. And do I think I’ll need either on my 95k mile Tacoma in the next 5 years? prolly not.

You also aren’t considering the risk with the car debt.
Loss of job or injury could be devastating.
Also when you have obligatory debt payments its essentially a loss of income.
I don’t need the $483/mo to save for a new van. I’m not buying a $30k van. I can invest that money in retirement or pay off my mortgage.
Bottom line is its my money, not the banks.