Wisconsin Tacomas and bad financial advice

More room for kids. We had a few mini vans. Space, comfortable, way more comfortable for kids than a tacoma. I saw a Ford Focus with a roof top tent. It’s pretty popular now.

 

Personally I've never understood renting a vehicle, you pay a large down payment which you don't get back at the end of rental and a monthly payment with restrictions which could be costly, and if you decide to "buyout" you pay close to market price.

 

I assume you're talking about leasing?

I actually think it makes sense for certain drivers. Some people want a new car every few years. They're always under warranty. You can get more car for your monthly payment.

Of course, it's no good if you want to modify your vehicle. And, you will pay more in the long run if you decide to buy it out at the end.

 

2020 lease specials had no payments 90 days (33 month lease), $0 down, 12,999 miles per year, payments as low as $139 month

My wife finds $0 down leases (I do) and she loved trading in cars every 2 years. After 3 cars in 7 years I told her we were leasing. Usually payments are $199-$299 a month with 12,000 miles a year. She only usually puts 7k-8k a year on. No maintenance and always new frills. I never worry about her breaking down. I agree it’s renting but after going upside down in vehicles it seemed better financially.

Lol!

 

See if you can use the Jeep as a trade in, its unlikely you’ll have equity but you may be able to get them to pay it off for you.

 

Nothing wrong with knowing your costs and no surprise maintenance costs is a plus. And you never get stuck with a vehicle you don’t like that lost 40% of its value after 3 years

 

Your wife seems like the perfect example if a situation where leasing ir advantageous. New car every 2 years and no worries about trading in an upside down vehicle.

 

My understanding, coming from a guy with a friend that owned a leasing company, is the when leasing, you are basically paying for the depreciation of the vehicle. One of the few bonuses of leasing is that you are only paying sales tax on that portion of the vehicles value instead of being taxed on the entire purchase price.

 

Ha. The Jeep Cherokee is basically built for lease programs. Lol.

yes on trading it. That’s a option.
We are seeing all options.
Looking for our contract and contacting the lender.
I just didn’t want to sit in finance yesterday and wanted to make my wife think another day about that vehicle.
It’s not a $27,000 Jeep. It’s a $40k truck that I want. Lol I also want to get the best finance rate and play some dealer vs dealer magic and knock some money off. This dealer lost me over $500 on my first tacoma in 2015. When I bought my 2017 the salesman said we will beat your best offer by $500. I’m a cheap bastard and if I can save a extra $1,000 I’ll try. Lol
I’m trying to figure on payoff on my Tacoma (pay off my tacoma before going in to finance)vs down payment on the T4R.
Still not sure!!only 1 car payment sounds good!


Also Waiting on the lease info to see if any early penalties.

 

@Camerasandcoffee was offering up some struts from his truck.

 

Ah, the lease vs purchase debate.

No one true answer for all, but I personally prefer ownership. Renting anything, from your home to your vehicles, is ok in the short term. However, in my opinion, true financial wealth is developed over decades of ownership and investing. Constant consumerism and temporary purchases hinder that.

That said, if building a portfolio of high wealth isn't a huge priority, that's fine, as personal success and happiness are defined differently by individuals. Just my two cents on the subject, as I find it an interesting topic.

 

Usually I’d agree, but I’m not sure vehicle ownership increases wealth. If someone can lease a 35,000 vehicle for 350 month instead of buying the vehicle for 35,000, they get 3 new vehicles, in some cases 0 maintenance costs, at most a couple oil changes, and 100 months. Or they buy, after 100 months they have a vehicle with 100k miles, long out of warranty, and whatever maintenance costs accrued along the way. And a vehicle that in most cases is worth 1/3 of its value maybe? I’d say lease vs buy is strictly about what each individual prefers, and financially not very significant at the end of the day

 

As was I!

 

That's a fair point on vehicles, I'm just referring to the bigger picture.

Vehicle ownership itself won't help to increase net wealth for the most part, outside of rare or exotic collections.

 

Like my 2019 Tacoma

 

What Sig you looking for?

 

I might need that number.

I've been looking into getting something, but I haven't picked anything out yet.

Plus, every time I see something I like, it's out of stock.

And, I have a feeling it's not about to get better.