Need advice! 2019 Tacoma - keep it or return it....

If you think Dave Ramsey teaches only to sell books you obviously haven’t spent any time reading his book or listening to him.

 

/thread

 

I am literally driving like an old man that everybody hates....slow starts, delicate braking - simply enjoying engine growl and transmission's workout. Perhaps this is the reason I have no complaints about engine/transmission sluggishness, down shifting and under power engine.
It is for sure familiar territory - when I first got Taco, I used to be annoyed and hated it - now I grew to really like its personality...also I see how this truck is not for everybody...

 

I have never leased a vehicle because I drive too many miles per year, so I can't comment on the pros/cons of leasing. Current market seems very strong for used Tacomas though. My 2018 TRD Sport DCSB has a current offer from the local Toyota dealer for $31k and 0% financing for 60 months on the new vehicle. Almost tempting, but the 2018 is paid off, so no reason to pick up any loan for the same vehicle.

 

I wish I listened to Dave more! The guy obviously makes a boatload of money selling his books, but his advice is solid.

 

• The truck is one year old.
  
• You were upside down going in.
• You like the truck.
• You won't get a new car for under $30K unless it is a shit box.

Why are you even thinking of 2022 now? Do you have some illness that requires you to obsess about vehicles? This is a way to get un-upside down.Take advantage of it.

Lastly, you are wasting money on expensive waxes. Let's say you and your neighbor bought identical trucks on the same day. You care for yours the way you do now, he only washes it once a month, never waxes, but takes good care of interior by vacuuming it out and keeping it generally clean. He touches up the occasional rock chip too. Basically he takes care of it but does not spend any money on it.
At the end of three years, he take it to a pro detailer and gets the $79.95 wax and clean.


His truck will be indistinguishable from yours....

 

The reason I think so far in the future is that if I keep it I will change the way I use it. 13k miles vs 30k miles after 3 years.
I disagree with trucks being equivalent after pro detailing. They might for the first week or two but in the long run the well taken care of car will be significantly cleaner and nicer on the outside and inside.
Trust me - it is all in details but only if you truly crazy about it the way I am. My car right now is indistinguishable from brand new. No scratches, dust, rubbings on the interior - not even fingerptints Its a mental sickness that I fully admit to.....

 

I agree with the others. See what the actual value is at the end of the lease. If it is less than the buyout, give them back the keys. If you have the stock parts, put them back if you get rid of it as you will get $0 for them if you turn it in with them installed.

 

See - like I have explained above, if I decided to keep it I will change the way I treat/use it - if I will get fully convinced that its a return - no more waxing, washing and pumperring. maxed out mileage and no more $$ spent on anything that is related to it.... I am sure that the payoff will be WAY above the average market value BUT I do not think I can look at this that way (correct me if I am wrong) because I am the first owner so that $30k on the end is not equivalent to me finding another - exact used truck.
I know the truck history, and the way I "treat" it....

 

That's Papa Dave to you sir!

Lol but he should listen to dave.

 

If you want to make this decision based purely on finances, then this is the correct answer.

Unless you got taken, the way leases are usually setup is (agreed purchase price)+/-(down payment/negative equity)-(residual)/(term)*(interest)=(payment), for example in your case, it would look similar to this, (39000+4000-29900)/36*interest=363.88+interest. I don't know what your interest is but I bet your payment is around $400-$425. The big wild card is they use historical market info to take a guess at what the residual will be. They try to have the residual be market value. However, since that can be more or less, you have to look at what the market value is when it's time to turn it in. If you are upside down, it would make no sense to keep it. If you're right side up, then you just need to determine if it's worth it given the known factors (it's sat outside for three years, you've babied it, etc).

 

The other thing to consider is if you are right side up but want something else, you could consider buying it out and then selling it to make a few bucks.

 

I paid of $165k of debt on (our version of) Dave's plan. Dude is legit.

 

Agree. It's not a Ford GT that will gain value.

 

It sounds like your truck is as "new" as a used truck can be. I doubt you'll find another used vehicle in as good of condition as your truck.

 

Exactly my point that confuses the heck out of my decision making skill

 

With that in mind, it seems like keeping it makes the most sense.

 

Baby Step 7? @ICU1

 

If it doesn't suite your needs why keep it. You clearly don't need a truck, get something else. Its just money.