What should I do? Need your opinions

I recently took a job that will require me to do Offroad every week for two days. The roads can get quite gnarly. Last time I worked there I had an FJ lifted. I currently have a 2016 Tacoma not lifted. It’s the off-road version. The new company gives me a $500 stipend per month for my vehicle. If it were you, would you get a new2020 Taco and get it lifted etc., or would you put the money into lifting my current Tacoma? It has 80,000 miles on it. I just bought new tires for it 5000 miles ago. Or would you get or consider a forerunner and get that lifted? I drive 90 miles one way to work once a week. So I need to consider that as well.

 

Lifted does not help offroad. Larger diameter tires do.

 

For $500 a month I'd buy a beater and spare my nice vehicle. Offroading for work is hell on vehicles.

 

This. Buy a 2nd Gen already setup for the off-roading required and put the $500 towards that.

 

I know Tacoma's can hold there own off road, but I'd bet there are a lot of places a Jeep would be better suited.

I'd buy a good used Jeep TJ for work.

 

This.

 

Nothing beats new brother...open an LLC and write that bitch off.

 

It amazes me how companies sucker folks into using their own vehicles. You end up wearing yours out and receive only a pittance. Renegotiate and get a company vehicle.

 

Buy used and invest the rest of the money in a money market account.

 

The 2016 is now your beater truck. By a nice vehicle if you want, otherwise save more money each month.

 

That is not completely true. It raises your front diff, and it increases approach, departure, and breakover angles. Yes, your rear axle and your front knuckles are not raised, but it gives you more options when approaching an obstacle.

 

I didn't even read all the posts, its a no brainer for me. Take the 500 bucks a month, do what needs to be done to the your current ride, then start saving that 500 bucks. Nice down payment when you NEED it.

 

get a dirt bike

 

I would agree if you are a couple years into your loan or better. Save that cash and use it to upgrade and repair when needed. Have some saved up for another ride later.

 

Can I ask what kind of job you have? I’ve heard that communications tower workers have to navigate some bad roads to get to some of the towers.

 

Yup, this. $500/month is $6k/year... seems about right for depreciation on a 2016. If it wears out in a few years, you'll have the money for a new truck.

 

A money market account at 1.75% interest right now would take you 42 years to double your money. That's not even considering taxes.
I don't know if investing is the right word in this case.

 

where is a 1.75% Money market account at

 

This. I’m in a similar situation with my job. I get about $400-500 a month (depends on mileage) and I drive a 2016. My current job-site is rough but I wouldn’t consider it extreme like driving up mountains or any remote areas where the roadways aren’t somewhat maintained. Part of my vehicle stipend goes towards my truck payment, what’s leftover either gets invested or sometimes I throw a little more at my monthly payment.

 

Just googled it and that's the rate.
I have some parked in Capital one at about that rate right now.