Purchased to keep vs. Purchased to sell

I originally purchased my Tacoma and I did originally have in mind that there could be a possibility that I would be selling it down the road. That quickly changed. I now plan to keep it forever

 

Same as me, and I feel my Tacoma will last a very long time!

 

I plan to keep my truck for as long as possible since it has a manual transmission. I have only owned manual transmission vehicles, and in a few years manuals will be extinct in America. The first car I bought new was a Mercedes 240 diesel for $12,000 in 1979. I drove it for 22 years/450,000 miles. Total repair and maintenance costs were about $3,000 (still had the original clutch); total insurance cost for 22 years was about $14,000.

 

I wanted a MT so badly when I initially bought mine(everything I had owned prior was a manual, and there's just something about having that added degree of control), but it turned out the truck I ended up getting had everything I wanted, save the trans option, for a good price. In retrospect, I don't regret the decision - I'm getting older, and the auto is definitely a lot easier to manage overall.

 

Totally agree with you. I love driving my manual Taco. I also have a 2016 WRX, manual of course, and I really appreciate the difference in the manual characteristics between both vehicles.

 

Some folk just think it’s normal to have debt and make a car payment. Life of being in the hamster wheel. Not for me.

 

It's not an investment...ever.
However, life is short. Get what you can afford. Early in my life all I could afford were pieces of shit. My wife's car was always our good car and I vowed that when I could ever afford to, I would drive the newest, most reliable vehicle as I could afford. So that's what I do.

 

I plan on keeping mine for as long as it's a useful thing to have in my life. That may be another 5 years, or 10 years, or 20... just depends on where life takes me. But for now it's paid off and dead reliable, and I value it like any other good tool in my collection of things.

 

I bought it it keep it for 5-10 years and realized backseat space isn’t as much as I’d like it to be with kids (hopefully) on the way. I’m going to sell it for a tad more than I paid for it in January of 2020 and I put 15k on it.

 

It's definitely not an investment but I do like getting a new one every so often. Went from a 1994 Toyota truck to a 4 cylinder 2016 Tacoma, to a 2016 V6 Tacoma to a 2020 AG Pro Tacoma.

Next year I will likely trade it in for a 2021 Black M/T Pro and then who knows..........?...........LOL

 

I see nothing wrong with carrying debt as long as it's not compounded and carrying high interests rates. Sure if you make a purchase on a credit card and make the minimum payment for 10 years on that card you're not doing it right.

If debt was so bad, we would not have half of our doctors, lawyers, or engineers because of the costs of college. Debt is a balancing act of good faith. If you buy a house and take out a $300k mortgage, that's debt. If you take care of the house it is also an investment, if you don't, you're gonna have problems down the line. I'm not saying a car is an investment in any way, but living within your means does not mean you have to live without debt.

When my hamster wheel stars to squeak, maybe I'll upgrade to a fancier one with nice bearings and a flat screen.

 

I haven’t, an I will never buy a vehicle for the next person to drive.

 

A depreciating asset that you pay to keep maintained and pay for gas to use. Not a good investment

 

I like to switch pretty often so resale is important. This is why I went for Wrangler and Tacoma. #1 and #2 in residual value where I live.

 

What hamster wheel? I'm paying $800 in interest (max, but I have pretty decent credit) over the lifetime of the loan and the truck is worth something like 15k over what I owe if I sold it today. Further keeping 30k in a random S&P index fund from the time I bought the truck (July of 2018 to now...which granted is a bit of an outlier set of years) would have earned a hypothetical 100% cash buyer something like a 25-34% rate of return depending on what calculator you use online. Using my example that means by paying Toyota Financial $760 I get to take my money elsewhere, run around on my "hamster wheel," and earn 30% on 30k. Even stuffing 30k in a low end savings account (something like 0.5%) you're still breaking even on financing charges.

Vehicles aren't an investment, but the Tacoma resale certainly helped my purchase decisions.

 

Wanted 10 years out of it. On my way to 20

 

Beat the shit out of it.... ain't no pavement queen!! I'm paying for the experience for my tacoma will give me!

 

When you want to sell the black 21 Pro, call me!

 

In WNY that thing looks amazing still. The rock salt is killer

 

I voted drive it till it croaks. I bought almost new, 6600 miles. It is a 2WD single cab so not exactly something popular, but it fills all my needs for now as well as the foreseeable future.

IMO I hate having a payment on vehicles, the only way it really makes sense to me is keep the vehicle at least double the years you finance. I financed for 5 years and am on 8 years now total..at 113K I would like to see it hit 200K.