Considering selling my truck because of bad paint quality and wanting to get out of debt

I would like to know what you would you do if you were in my situation.

I have a 2017 Tacoma off road with 55,000 miles. It's loaded with all the options from factory. I've had numerous issues with the poor super white paint quality.

• 1st time was the bed of the truck at the front right behind the cab. There was rust and it was covered and repaired under warranty at 25,000 miles.
• 2nd time was the driver foot sill area. I found rust in there after I removed some of the trim pieces. Toyota wouldn't cover it because I was at 52,000 miles. I fixed it myself
• 3rd time I found out after I washed my car. On the top of my fenders I can see it starting to peel. I contacted Toyota again and they said they wouldn't cover it because it's out of warranty.

I'd like to think that because I've had a history of paint issues and super white generally seems to have a lot of quality issues that Toyota would go out of their way to make things right, but looks like that's not the case.

The 2nd reason why I'm wanting to sell the truck is to get out of debt and stop borrowing money for good. Technically I'm already out of debt right now thanks to my brother. There's just a little left that I owe him.

Lastly I've been looking for a replacement vehicle, but when I compare what's out there on the market and to mines, it's not the best value because of the current used car prices. If things don't work out and I decide to keep it, I have to worry about potential future paint issues popping up.

 

I’d contact corporate regarding the paint.

the rest is your decision. To stop borrowing money is a good idea, but the decision is yours. A lot of people borrow money they shouldn’t and think having a new truck is worth it even though people don’t have money to support the purchase…a foolish and poorly educated concept. However, this depends on what you owe and what you want can afford. Now is not the time to buy vehicles.

With the times it’s only going to get worse, so having no debt or close to it is a good idea. If a recession happens vehicles will come down in price because they are depreciating assets. There will be more Tacomas.

 

Regarding your rust problem, Toyota is notorious for not caring about rust issues, you can make some phone calls, but they will just tell you to take a hike at this point given the age of your truck. I have owned many Toyota products and I will tell you the company does everything possible to ignore any complaints about rusting.

Your second problem involves personal introspection and having to take responsibility for your actions and is far beyond the scope of an Internet forum.

 

Sell it, while the prices are high~!

Stop relying on other people to keep your out of debt!!!!!

 

While I fully agree with @SpeySquatch you may want to hang on to it, right now you probably will get a premium for trading your truck in or selling it private party, but anything that you can buy that's used has ridiculous markup, in many places over double what it's typical value would be due to the shortages right now.

A truck in hand is worth two on the boat or however the phrase goes.

While it's definitely a good idea to have less debt, selling your truck to get out of a $600 payment and into a $500 payment for something in worse shape older year and higher miles right now may not be in your best interest.

Otherwise I may look into your local States lemon laws to see if Toyota will buy you a new truck or let you trade for one in a different color of equal value.

 

Depending on what you owe on the truck you could very well be better off keeping it.

If money is tight then get another better paying job. Or get a second part-time job, employers are screaming for help. If I could go back to work and not be penalized for it I would, but for some reason anyone who is drawing So-So-Security gets penalized with smaller payments if they go back to work and start re-paying into the system. Stupid fk(ing laws, I'm ready and willing to start making 75k+ and paying into the system but if I do that then they'll take away what so-so-security I'm getting. Duh.

 

What do you really need? Do you need a truck...or do you need a Toyota Corolla? If you only need a small compact car, then yeah get rid of the truck. You'll save on gas, on insurance, on operating expenses, etc.
I've been debt free most of my life, and taught my kids to think the same way. It sure does make like easier if you can managed it.

 

Thanks for the feedback. I did contact Toyota directly, but they didn't really do much. I have the money to completely pay back what I owe, but trying to figure out what I want to do first. I am one of those unfortunate suckers that was okay with debt and having a "cooler" car than the next guy, but I am done with that

Just from a short Google search regarding lemon laws in my Minnesota, I don't think it will apply to my situation

 

If I had to cut costs this is what I would do! As much as I love my Taco I miss my little Impreza for this. I paid cash for it, it was great on gas and was actually very reliable, especially considering how I drove it. Had to do very little to it outside of maintenance. Some clown decided to slam into me and write it off though.

 

Go Subi agin fer da win!

 

You can't beat a whacked-out Corolla. My kid drives a 2003. I paid $10,000 for it in 2005 and it had 12,000 miles on it. Passed down to him it's got 110,000 miles on it, paint is for sh*t, missing hubcaps, scratched dinged and dented. He got his masters degree in computer science from a major university and is entertaining job offers starting at 6 figures. I mentioned that he should save up a few months and then buy a new Subaru CrossTrek or something and said no way, he said he'd drive that P.O.S. Corolla into the ground. Could care less about what it looks like... it cranks and it drives and it stops that's all that matters.... LOL ...

I think he's holding out for my Tacoma ...

 

I would start shopping for something more practical such as a corolla, Impreza, Civic, accord etc. Personally downsized car-wise for a few months to a year when my finances got the best of me, mainly after a home purchase and needing to dump $ into that without any line of credit.

Not sure what your job/living situation/hobbies are but if you do alright there are plenty of things you can do to cut costs or simply get a part time job and help out. Most Americans want help getting out of debt but aren't willing to sacrifice a damn thing to get there so they continue refinancing, getting balance transfer credit cards, borrowing money from family and friends. Don't be that person if you can prevent it with a little personal change or self control.

 

If you are considering getting rid of it, right now is the time to do it. Ideally you’d already have another vehicle so you didn’t have to try and buy something right now.

 

Sell it

 

It served me well but does not suit my lifestyle. Especially now that I had a GSD. He would not be impressed with me if I had to stuff him in the hatch of a Subaru LOL.

 

On option 2 about getting out of debt, it depends on what your priorities are. You asked what I would do. I absolutely HATE debt. I've been so much happier being debt free for the last 10 years. Some can live with it. I prefer not to. I would enjoy the peace and security of being debt free over having a nice vehicle to get me from A to B. If you need it for work or other duties often then you must weight that into your decision.

 

If you don't need a truck, sell it and get a 2012-2013 Corolla. Last model before they went to CVT. Money wise, it's a solid move and you will likely have some money left over. Trucks and SUVs are starting to accumulate unsold at dealerships as gas prices rise, so now is the time for that decision.

 

I'd make up my own mind

 

Another fan of living debt free as there are few things better to improve your financial health more than clearing out consumer debt. Once you are debt free, you can start paying the most important person on the planet; you! Being debt free really ratchets up your ability to save money. The paint thing is another issue I guess, but it alone would not be enough for me to unload a vehicle. Just don't go right back into debt to secure safe and reliable transportation. If that's what you would be doing, then it would make more sense to hang onto the truck (i.e. the devil you know versus the one you don't!).

 

I wouldn't be concerned with debt. What's the difference of saving money to spend, or borrowing money to spend? You are still spending the money.

Sell the Tacoma and buy a Frontier.