Purchased to keep vs. Purchased to sell

I tend to keep my vehicles as long as possible. In the 21 years that I have been married I have had only three vehicles including the Taco I bought a month ago.

 

Never buy to re-sell unless your business is sales..

To your last sentence, niche thing but absolutely. I'd probably never get the money I put into my bike I restored a couple of years ago but I don't ever want to part with it anyways..labour of love

 

It's going to be in my will.

 

Bought mine as a second vehicle so I'm putting very low mileage on it, the plan is that when I'm an old guy I'll have an old truck to drive around.

 

I still don't really understand why the hell I bought this thing, but it sure has been fun. Looking forward to some more Good Times.

 

Leased so I can move on quickly to the next one. Vehicles depreciate, it’s just a matter of figuring out what amount is an acceptable loss to your wallet.

 

Drive it 2-3 years and get a new one. I like that new car smell.

 

Just my opinion here but I’ve always thought it’s not very smart to dump thousands into truck modifications, only to sell the truck later (not getting any money back for the mods), buy a new one and start modifying it all over again.

Only makes sense to sell if you don’t do any significant modding.

 

I drive SO much - I've always drove my vehicle and got a new one (often a 1 or 2 year old vehicle - made more sense to by new on the Tacoma)....I've had this Tacoma for almost 2 years and it has 84K miles on it (will have 90+ at the 2 year point). I told my son I might get another truck within the next year - maybe 2. I was wondering if he was interested in buying mine - he'd have to get rid of his (probably), so I'd buy it to keep on our farm. He said he is not interested at all - he loves his 2002 (TRD SR5 OR 4x4) ...so I'll have to think...I absolutely love this truck so I may just see how many miles I can put on it!! My son's truck parked next to mine:

 

That is some serious driving -- where do you go?

 

Ha - yeah a lot of driving - my main office is 60 miles away. We own a horse farm and everything is a trek.

 

Putting that kind of miles on (so quickly) what is your maintenance schedule for the axles, transfer case and transmission?

 

Resale value isn’t a bad thing to consider if you value keeping a vehicle . It also determines the “total” threshold in case someone where to hit you and your intent was to hold onto a build .

 

I am hoping it’ll outlive me.

 

10 years, like the last one I had. By then there will be a bunch of little dings I don’t like, some shortcomings and inefficiencies compared to the 2030 model, and the bloom will just be off the rose.

 

Lease payments are much lower than finance payments. To some people the whole point is that they don't want to own a depreciating asset. Ever.

I wouldn't consider someone leasing a new Tacoma over and over anywhere near richy rich. More like middle class at best. These things are like $300-$400 a month to lease if you if you find a good deal. Rich people pay $1500/month on their leases (IMO).

 

My mother did a lease on a Honda CR-V about 5 years ago. She had a small car but had a sudden and dire need for AWD/4WD. The lease made sense because she does 5k a year or less and wasn't sure long term about driving a SUV, so she figured worst case she gets something smaller end of lease that still addresses the AWD need.

 

This type of reason is what made me try a lease for the first time with my 2020 Tacoma Limited. I've been driving full sized pickups for 20 years and was not sure if going to mid-sized would end up being a regrettable decision so I grabbed a 27 month lease. I do not regret the size change nor the Tacoma but unsure if I am going to rinse and repeat so to speak. 14 months left to figure it out.

 

Bought it to keep for a long time . Almost have it paid off and can't wait for that day to come.

 

I actually take it for complete service (whatever is in the book) - every 5K miles (which is about every 5-6 weeks).