To trade it...

Never had considered a motorcycle. I don't think my Dad would be very thrilled. He has had a 2000 Road King for 10 years now and is looking at a BMW but he told me he doesn't want to see me on a motorcycle until I'm 40. LOL yes they're dangerous and a WRX is probably just as dangerous.

 

....ironically...when you go to move out with that small car you will have to find someone with a truck to help.

 

GOOD POINT. My parents have a mini van that we used to help me move to UC.

 

Would you be willing to give up you "Social" Security retirement, or your health care .... or your public schools and collages? No, how about the armed services that protect your freedom. Everyone chips in and pays taxes and EVERYONE benefits even if they don't pay taxes. If that's not the definition of socialism wow.... nothing is.

We have a lot more in common with Russia than you think... cept in Russia you don't have to pay for your collage tuition or your public transit or your health care or your retirement. That's the real fear of socialism, no corporate control of your money.

We live in strange times indeed.

Keep the pickup so you can haul the Kayak and your music gear.

Don't forget to save for retirement, cause that social security I paid 100s of thousands of dollars for (I'd be a multi millionaire by now if I put that into my own account), won't be enough to carry you thru your retirement years, at least not at the social level you are used to living.

 

A WRX is no more dangerous than any other car. Again, they aren't fast enough to get you into trouble quickly. My dad bought me my first motorcycle when I was 17 and I've pretty much had one ever since. Keep it under 100hp (really 70-80 is more than enough) for a first bike and learn how to ride that first. My first bike was a Ninja 250 that would barely break 100 going downhill with a wind at my back. If you think a 600cc sportbike is a good starter, you are definitely looking for trouble.

 

You had your mind made up before you made the post. If you can sell the truck for more than you owe and put it towards the car, great...but the car will still cost more than you currently owe on your truck, and that's before you add tax and interest. If you want a cheaper payment, refinance the truck. Bottom line is...you want the car more than the truck so that's what you're going to do even if it's not the financially sound decision to make.

With regards to renting, you really could finance a home for cheaper than paying rent. You'll be able to sell it down the road if you relocate, and you can also have a roommate while you live there, which would cut your monthly mortgage payment in half. So, why not do that instead of renting? There are government loans available with no down payment that only require an average credit score to obtain. I'm guessing you'll rent because it's "easier" but it's pissing money away.

 

Or you could just buy this thing with a top speed north of 250mph. https://www.kawasaki.com/Products/2017-Ninja-H2R

 

I think I'll end up keeping the Taco.

 

Financially speaking I'd say keep the truck. Swapping it for the WRX is a net loss long term anyway you chop it. That being said if you're tired of the truck and want a car then rock on.

 

Literally had a 2014 WRX and traded it for the 16 tacoma. Dont make the mistake man. The WRX is a blast, but cannot haul and move shit. You realize how bad you need something that can move stuff once you move out. I made the mistake, and while I enjoyed the hell out of my WRX, I wouldnt go back from a truck. Also (side note), I traded my WRX in Dec. 2015 with 25k miles....those were HARD miles on that car too. Every WRX owner drives the shit out of them things because it is fun. 43k miles is not a lot, but just know they are lying if they say it hasnt been driven hard. I wouldnt drive that thing any other way!

 

OP, at the end of the day it's your decision, your life, etc. I just wish somebody would have taught me YEARS ago what I know now - a higher level of fiscal responsibility and the concept that most of us will only make a finite amount of money in our lifetimes and every decision we make with it has consequences.

 

True that... took my 18 yo son to buy a 600 pocket rocket off another 18yo kid. His dad MADE hem sell the bike cause the kids best friend died on another 600. Soon as he got the bike home he was doing wheelies down the street in front of our home.

I'm like bro, didn't you see that kid crying ..... and the look of relief on his dad's face?

I don't know what ever happened to that bike. One day it was gone and forgotten. I don't think my son ever got on anything bigger than a 100cc since then (20 years).

Now he thinks rebuilding John Deep tractors is a fun hobby.

People change, life changes happen, pickups will be needed for-ever.

 

But he does roll one loan payment into the next as soon as it's paid off.

 

That ^^^ sage advice. I rented for 6 months when I was 19 and that was it. Got a loan and bought a home... never looked back. Even had money to pay off my ex-wife when she hit her mid-life crisis. Single best investment you can make is buying a home.

Advice - don't bring women home. Always go to their place and carry a go bag.

 

Not going to input on the value of a college expense since you’ve already made it OP, suffice for me to say that I look on it as an investment. And sometimes you win, sometimes you loose. It all depends on doing your do diligence and a little luck…Well, sometimes maybe a whole lot of luck.

Staying out of debt, any debt, is paramount for good financial health and peace of mind.
I’ve read some great advice here for you already, so I’m just trying so summarize it, if you’re still doing the math.

The best transportation is what you all ready know, serves you well and own outright. But if you trade it in, take any loss as part of the equation, include taxes already paid and to be paid on the new ride. Then there are some intangibles to be counted such as safety, future needs 2-5+ years down the line when you might see the need to re-purchase again.

My first instinct would be to bite the bullet and keep the truck. But If I could somehow find an older well maintained vehicle that would serve my needs well and be debt free, that would a given, you’ll be much better off.
But if you’ll still be saddled with debt, it maybe be best to keep what you already have for the next 10+ years and stay ahead. And let us be clearheaded in that most of what we perceive or think of as assets, are in reality liabilities. Just my .02cents

Hope that helps
Cheers!

 

Sounds like OP is bored with his truck

 

Bro, why move out. Trade the Taco in for a Corolla and become an Uber driver, cash out, and count fat stacks while your pops yells at you to mow the lawn. Eventually he'll get tired of bugging you and then he'll leave you alone.

 

True Millennial.

 

I like this idea. Wonder if my wife would let me drive for uber on my off time?