Should I keep my Truck or Sell?

Maybe. California, wa and a handful of other states will make gasoline vehicles essentially worthless outside of a collector status in 6 years.

The inability to buy, trade, sell, register in those states are going to hurt gas vehicles.

 

Another upside to repairing is that in a year or so if you decide to to upgrade, you will get your money back. No, it won't be worth $15k then. Maybe only $12k. But you drove it a year (or longer) for $5k. So it cost $500 a month, same money or less than a car payment.

It's a game....pay now, or pay later...but either way you are going to pay! For me I'd rather pay for knowing what I have and it's history.

 

CA is the car capital of the world. Tons and tons of classic cars here. Tell that to the classic car guys.

 

Nothing to tell them. A car you can’t sell is worth zero other than sentimental value.

It’s dumb but it’s the way it goes.

 

It won't go. It won't fly. You shall see.

 

Believe me I’m on your side and hope so too. Just think that’s something that should be in the back of one’s mind since the current state is not looking very favorable.

Anyway thread derail. Back to topic of whether Op should take 11k for a 200k rotted out truck.

 

Who knows. The market can remain irrational for a very very very long time.

Like I said, unless you live in a house deep in the forest where you have to drive through puddles and over trees just to get home, a nice little economy car will get you to groceries and kids school just as well, and you can be saving up for something big a nice one day. Too many here are in that SHTF mindset where it's like you HAVE to be in some decked out overlanding rig or you're gonna die.

 

They are just attempting to ban the sale of new cars by 2035. Can still buy and sell used gas cars all day. In that scenario, I see our gas cars of today being worth LOTS of money.

 

Ban the sale of new cars? Or new ICE cars?

 

New Ice.
Potentially 17 states.
2035 and new sales only is an improvement from the initial proposal. The initial proposal was 2030 and its was all ice vehicles. New and used. If you had one you could keep it till it died but you would not be able to register a new to you (new/used) ice vehicle in states that passed the law. I didn’t realize it was amended.

Regardless 2035 is a long way off. A lot of if’s ands and but’s between now and then. For all we know gas could be 100$ a gal by then or the world might not exist in another 10 years.

 

In California the governor made a mandate that no new gas cars could be sold after 2035. I doubt that is going to happen and it will be reviewed in the courts. But as of now no NEW gas cars after 2035. (Don’t turn this political and get slammed with the ban hammer)

 

New gas cars. CA at least.

 

Sell! Sell! Sell!

 

Where are you going to get 5% in a savings account? Everything I see is about .1%. Even CDs don't pay that these days.

You may be waiting a while to wait out this market. I just don't see things getting better for maybe a year?

 

Wat??!

ALLY Bank, for example.

 

OP, how long have you owned this vehicle (both years and miles you put on it)?

I had my frame replaced 3 yrs ago by Toyota. IMO I'd suggest doing both LCAs and the metal brake lines if you haven't already, they also did new rear leafs. I paid for all new shocks/coils but got free labour.

So let's add it up:

1) New frame $4000
2) New rack and pinion..rough Google machine shows $600
3) New passenger-side side lower control arm..rough Google machine shows $600 pair
4) New intermediate shaft and likely a new steering column..See below
5) New parking brake cable..about $80, free labour
6) New shocks and struts..I paid $800 for mine 3 yrs ago (not a 4x4), so I'll guess $1000 just to be high side
7) New passenger side valve cover gasket..that's about $100 is my guess, easy access..might as well do both while it's out.

Intermediate shaft is about 100-125 and I bet comes damn cheap or free labour wise. Why do you believe it needs a column..I ask b/c my intermediate went last year and nothing else needed replacing.

Figure about 6500 if you don't need a column.

I await the reply re ownership before rendering my decision.

 

The lowest paying cd offered by fidelity as of right now is 5%.
Tons of financial institutions offering competitive rates.
Assuming you have BOA because even their premium level accounts are still dog shit.

 

OK, call me impressed. Nobody here is paying anything close to those rates, even $10k 1yr CDs. Not sure how they can pay those rates, where's the money coming from?

There is one Credit Union locally that is paying 4.5%, $5k minimum balance in checking and savings.

 

Don't ask, don't tell.

FDIC-insured. I've had some of my money there for over a decade.

 

https://www.bankrate.com/banking/savings/best-high-yield-interests-savings-accounts/