Help me make a decision or what would you do?

I've been debating over a year now on to whether replace my tacoma with a cheaper car or just keep it. Don't really have any people I'm close with to ask for their opinion. So I'm turning to TW forum which I frequent a lot. Some things to know

• 2017 tacoma trd off road 60,000 miles fully loaded
• paid off
• 4 years owned

Reasons why I want to replace

1. bored of it want something different
2. could use the extra money to pay off mortgage sooner
3. super white paint is peeling. dealer addressed issue a few times, but has stopped doing so the last time it came up again. Toyota corporate as well
4. don't really need a truck

My problem is that when I go see a vehicle I may replace it with, I get cold feet every time. For example, I'm already getting cold feet again. Just went to go see a 2006 gx470 local to me from an owner. Frame and under carriage looks pretty good considering its age and being in the Midwest. It pretty much checks all the boxes in what I'm looking for and is not overpriced like others I've seen. I'm still waiting on taking it in for inspection before making any decisions.

I'm not in dire need of money right now. The only debt I have is my mortgage. The money I could get by replacing the tacoma plus selling separately a couple thousand dollars worth of modifications would help me pay off my mortgage sooner. Despite the issue with paint peeling, I'm still finding it hard to let go because it's one of the cars I've owned for the longest and feel like I'll regret selling it later on.

 

Jeep tj, try the solid axle side of things

 

Don’t. If we were having a beer I’d say don’t, then have way more beers and in the morning you’d have woken from a terrible nightmare, panicked you’d sold off your soul for a shitty sedan, only to run out and see your rig in the driveway.

 

Could you post up some pics and the mods you already have. Maybe just changing a few things will relight the fire to keep it. A tune goes a long way to wake it up and make it fun to drive again, wheels/ tire change for looks and maybe leather seats on the inside?

 

I feel like we are talking someone off the ledge… “don’t do it your truck has so much to live for”

 

• Cali raised Rock sliders
• Rci Steels skid plates/welded catalytic converter shields
• Trd pro tail lights and headlights
• Diode dynamics fog lights
• Total chaos bed stiffener
• 5 enkei wheels

There's more, but these are the ones that will sell. I have a tune already which has helped. I'm not interested in any more modifications right. At least not until my house is paid off.

 

Nice looking truck. Well there goes my theory.

 

Yes! I am for sure bored with it. Even considered a brand new car, but it's not worth it. There is money to be made by replacing it. I'm guestimating somewhere around $20,000 for the difference after buying and the selling the truck.

 

Go with your gut instinct. You'll know when a decision is right.

 

I think your looking to be talked out of selling!

Otherwise it would either be gone or up for sale.

Your not going to get as much as you think for selling your goodies .

In your subconscious your saying I am wanting to sell a vehicle I know to bring home what could be a Money Pit . Money differences have not entered the equation at this point.

What kind of interest rate and how many years left on your Mortgage?

Best of luck no matter how things play out.

 

Seems to be going that way so far. You are right about a possible money pit. There's that risk when buying an older used car and that's another thing that makes reconsider this decision. I have 3.874% interest rate and 20 years left if I keep making the minimum payment like I've been doing so far. My house can be paid off in the next 4 years If I stay on a strict budget not including the sale from the truck.

 

The thing is you need a place to live no matter what .

You need to be real careful about going to debt free it came back to bite me big time .

No real recent credit history after being debt free for 10 plus years and keeping one credit card for online and one gas card something to consider .

Good luck a hard call!

 

I recommend keeping the truck since it’s paid off. If you want to pay off the mortgage faster, use the money saved from having no truck payment to pay extra on the mortgage.

If it weren’t paid off and you had a high payment, that’d be a different story.

 

Sell the truck… in 10 years. Stay the course. Maybe paint that hood flat black

 

Hell you can wrap it, or get it resprayed a nice flat too. Have fun with it. Don’t rush through life to get to the end. A mortgage is just a fortunate “cost of life” have a payment you are comfortable with and don’t over think paying it off, you’ll miss out on the good stuff.

 

Maybe your young enough to never had a time before the internet.

I just think back before those days How I would have decided.

Not like this decision needs made in the next few days

With Today`s fuel prices a road trip is just to expensive . That was my go to thinking about a vehicle decision.

 

We can't really make your decision for you. We all have suggestions, but they're based on our own personal preferences, not yours. But you asked, sooo: don't sell it; yet..
If your house is only 4 yrs from payoff, be diligent and stick to that 4 yr payoff plan. When your house is paid off in 4 yrs, determine then if you'd like a different vehicle, and then finance it with that saved mortgage payment. If you decide in 4 years you still don't want a truck (or to have 2 vehicles), sell it then with 4 more years worth of mileage on it for probably within $4-5k of today's value and buy your dream car.

or just sell it and close the thread. One of those will make you happy, and I think you've already decided.

 

You've got a very good interest rate on your mortgage. You're currently borrowing for cheap and you may not be able to get a rate like that in the future for a long time, or ever perhaps. I would very much suggest doing some math and rethinking the thought of paying it off early.

Theoretically, you're better off paying the minimum on the house over the next 20yrs and instead put that money into the stock market which should fairly easily be able to beat a 3.9% return. That money may also be better used for home improvements/remodel that has a better ROI. Or, you could use that money to save for another property - vacation property, rental property...etc

I have been extremely debt averse myself and only have a home mortgage. I did a refi back when rates were really low and my intent was to pay off the house early. That is until I did the math. In my situation I should be at least $80-100k richer by paying the minimum and investing instead. I'm kinda kicking myself for not pulling out money when we had the chance. I didn't want to take on more debt but now we're considering a small remodel and it's gonna come out of our savings because loan rates are crazy right now.