Should I or should I not. Need advice

Hello, I am a 21 year old looking to buy a new truck. I'm thinking I'm to young to by a 2016 Tacoma sport access 4x4 v6. I have no debt, and have great credit. I currently drive an 05 accent and a 91 yota pickup. Just looking for something nice. I want to treat myself. I plan on owning it until the engine blows up. I currently work for a subcontractor replacing electric meters. It's piece work. 2.72 a meter. 40 to 90 a day. Have a new job that I start in 2 weeks. Industrial electrician apprentice. 14 an hour. I play on buying and selling on Craig's list for an extra buck.
What would you do in my shoes? I never really treat myself to nice thing. Maybe a pair of shoes once in awhile. And I feel if I got this truck I'm working for something.
What's your monthly bill?
How's your insurance/ registration?
What would you do?
Thank you everyone.

 

At 21 your insurance sucks regardless since you are in that age bracket. A new vehicle will only exacerbate the issue. Everyone's monthly note here will be different, there is no way to compare. For instance, some drop 10%, 20%, 50%, or just but it in cash. You would have to calculate it yourself based on money down or use an auto calculator and include the tax based on where you live (if applicable).

 

This^^^. Pretty critical you find yourself in a stable position first.

 

Age has nothing to do with it. I bought mine new at 22. It all comes down to the bottom dollar. Find the truck you want and find the best price. The dealer can tell you what your payments would be. Call your insurance company and get a quote from them too. If you can afford to pay that much each month, buy it. If not, go a different route. The main thing is to live within your means. Good luck.

^^^probably a smart idea.

 

If you base your auto loan off of monthly payment amount you are already in trouble. Get what is financially feasible and can be paid off relatively quickly so you aren't upside down and have something reliable.

 

Yep. I would get stable first. No reason to be in a rush. I remember my first vehicle purchase. A used 87 Ford Bronco when I returned from Germany and was stationed in AZ.

 

This.

And also, just because you can, doesn't mean you should.

I would also look for an "older" well maintained truck.

 

Thank you, your 2 cents is worth alot and much appreciated.

 

True! I'm just looking at my options before I make a decision and its good to get opinions when your in love with a truck lol
If I put 10k down for 60 months my bill would be around 430..

 

Personally I would stay away from a loan.
I'm around your age and getting a car payment was the stupidest thing I could've done.
I'd have so much more money a month if I didn't have a car payment. Save your money!

If you're looking at a Tacoma I wouldn't go used. With how well they hold their value they aren't going to depreciate that much unless you do a lot of modifications. I would only go used if you can get a good deal. However almost every used Tacoma I see is close to what sticker was on it new.

Don't know about your driving record but when I got my Tacoma my insurance only went up 5 dollars a month.

 

Thank you. I will do some shopping around to get the best price I can. I have USAA for insurance and will give them a call. Prob a good idea to wait my 60 days

 

Usually ends up buying someone's problem. Who gets rid of a Tacoma after only 1 year, unless there are negative reasons?

At least new, you know how it was taken care of, have full warranty, and the price difference is not much.

 

Thank you for the response.
Driving record is spotless
And I really don't want to do a loan either, I would love to pay cash but that would be awhile. I def want new. Used ones like you said are right up there close to sticker.

 

Have you started a retirement fund? If no, you don't need a new truck!

 

Thank you for the advice and for serving!

 

These guys nailed it in my opinion.

While your getting settled in at the new job, save the money you would otherwise spend on the new truck payment and save it for a down payment.

And big congratulations on the new job. Take full advantage of that apprentice program and finish it. Get that certificate/license!!!

 

Thank you sir!
I'm beyond excited to learn and get started on a career! I plan on going to school and work my @$$ off!

 

Right on!

What area are you located? Guessing you're going to be Union???

 

Lots of good advice here on waiting. Don't put yourself in debt over a vehicle man. Enjoy being young and not worrying about a vehicle pmt. my .02

 

I do and it's not always the best thing but, I'm a sucker for a new vehicle. Recently I've been forcing myself to keep them for 24 months....