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What to do with my truck

Discussion in 'Off-Topic Discussion' started by GC1990, Sep 16, 2020.

  1. Sep 16, 2020 at 8:30 AM
    #1
    GC1990

    GC1990 [OP] Well-Known Member

    Joined:
    Mar 14, 2017
    Member:
    #213307
    Messages:
    104
    First Name:
    Graham
    Tampa, FL
    Vehicle:
    2017 TRDOR ACLB
    Put this in the off topic discussion because of its random nature. Trying to weigh options here and figured I'd express them on the forum so that I can gather opinions and think out loud.

    I have a 2017 tacoma and a sprinter van I've been converting for a while now. The sprinter is finally ready to go and I'm wanting to start a trip with an indefinite timeline. My work is remote, my friends are renting my house, and I can easily store the truck there. Financially I can cover the remaining payments I have, and I am net positive due to the holding value these trucks have.

    My father has expressed interest in a new car, and he and my mom are looking to get into RV-ing. Ideally their goal is to get an SUV and tow a larger trailer, however they would like to start with a pop-up/tear drop and get a feel for towing. Recently over dinner we had a brief discussion of things with the possibility of taking over payments while I'm gone.

    At this point I feel that I have 4 options; Sell the truck someone else, sell the truck to my parents, have my parents take over payments, hold on and pay for it myself.

    I don't thing I'm ready to let go of the truck to someone else at this point, as I don't know if van life is going to be a definitive future; plus the van is only 2wd and I'd like to have a 4wd capable truck.

    The only benefit I see in selling the truck to my parents is lowering payments by spreading over term, which might not be beneficial due to the interest rate. I don't need the cash at this point, so theoretically my best two options are hold it or let them cover the current payments. Either way it is a depreciating asset (liability) if I let it sit at my house or let them drive it. If I were to come home for a period of time I'd also be able to share it with them as my father works remote as well.

    What are opinions on pros and cons? How should I handle it for future take back or sale?
     

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