Time to trade it in

Well, just hit 100K today. Time to trade it in

 

Also, put air in your tires.

 

Also, put your phone down.

 

You trade in cars just when they’re broken in?

 

You are a salesman's dream.

 

A 2010 with only 100,000 miles. It might be a good time to trade. We sometimes get emotionally attached to our vehicles and it isn't always the best choice financially. Selling while it has value and before it needs expensive repairs usually works best in the long run. The way things are going right now I'd bet money the OP will get 60% or more of his money back. In normal times you'll get 50% back after 10 years or 150,000 miles. The person who buys it will actually have as much or more money invested in it than the original purchaser. And they get to pay for the repairs.

 

This is funny!

 

You're kidding right?.

 

It’s dangerous to drive a truck with that many miles. Definitely trade in that sucker.

 

I plan on being buried in mine

 

Anyone remember the old Kurt Russell movie Used Cars?

"The pit! They filled in the pit!"

 

Trade in a truck that still has 300,000 miles too go,you must have lots of money too throw away.

 

I mean I’d understand trading it in at 100k if it was a Range Rover or German make, cars that will give you major headaches and financial trouble with higher mileage. But it’s a Tacoma. A Tacoma, a model that’s reputation was partially built off the trucks ability to rack up ridiculous mileage and keep truckin with limited problems. So 100k is potentially only 1/3 of this trucks lifespan if not less. I understand recouping cost but that’s potentially 5-10 more years of ownership for the average driver.

 

My 2010 has 118k on it and you would have to rip it from dead cold hands to get it from me. Christ I don’t even let my wife drive the truck

 

Never understood the "trade it in while it's still got value" approach...so you can take a bath on the next one. The only cars that are investments are probably way out of anyone's range on this website. Even if you have to spend more on the car than it is worth to fix it, you still save money over paying the premium of buying nother car.

I understand selling an "older/high mileage" vehicle if you don't want to deal with repairing and replacing things, or you want the status symbol, but there is no sound financial reasoning behind it. You aren't getting ahead of the game by pumping money into depreciating commodities.

 

OR...At 100,000 miles in ten years you have another thirty years of life in that thing. Let's do the math: You could buy a new one and equip yourself with my $825/month (0% interest 48 months) truck note. OR, instead of paying that to a lender you put it into the stock market. Somebody break out an annuity table here...$297,000 of your money invested in the stock market over 30 years at $825/month. That would be a COMFORTABLE retirement, AND a new truck paid with cash every three to five years in your old age. Opportunity costs, lost to the need to replace a good truck under assumed pretenses. I've got a '93 T4R 4x4 SR5 sitting ten feet from me with 413,000 on it. Its not even near retirement age, and it will attend my funeral. You can tell an owner of a high-mileage Toyota, but you can't tell them much.

 

Dave Ramsay broke this down-

Average car payment in the US is about $500/mo. $500/mo invested in average performing mutual funds from age 30 to age 70 resulted in something around $4.5m. Anytime I think of buying a new car I don't think of it as a $500/mo car, or a $50k car, but a $4.5m car.

 

Funniest thing ever written on Tacomaworld

“selling it at 100,000 miles before it needs expensive repairs...”

a Tacoma? Not on your life. It’s not near the mileage for expensive repairs.

 

My last two had in excess of 300K on both them.