TacomaWorld!!! I need your opinion!

Have you ever considered becoming a gold digger?

 

Well I do pick my nose from time to time...wait...I don't think that's what you mean..

 

I'll go against the grain and say keep it.

If you have no housing expense, you can afford to pay double payments on your truck instead. You have a newer vehicle so the likelihood of it needing major work is small..and granted it will be that with either the truck or car but still a thought.

If you continue to pay it off aggressively you will be well ahead of the game, and closer to owning it.

Don't worry so much about fuel. I started to do that when I bought my Chevy Colorado in 2007, but then realized with the good deal ($5k off sticker) I got, I could afford to spend a little more on fuel. You'll be going the other way, saving some on fuel but losing value on your truck. The truck will hold its value far better than the Corolla will.

The other thing that jumps out is you say you've done a lot of mods on it. That would take you a long time to do again plus you won't get the true value back selling the vehicle like that.

 

As an afterthought, look at the rest of your budget and see if you can trim that. I'd be willing to bet you could easier than you think.

I might have missed it but can you get a part time job? I was an office cleaner in college, pays a little better than minimum wage plus it's steady work and gave me weekends off.

 

Thats another good point, what's the reality of selling your mods and taking the truck back to stock? THink you could get $3-4,000 in cash by selling the mods?

 

Sell the Tacoma and get the Corolla. You seem to have the correct mindset for your situation, and this current financial issue won't last forever. Work yourself out of it, improve yourself and your job, then buy twelve Tacomas in the future 'cause you were financially responsible today.

 

That's very short sighted. Just because he has the tacoma doesn't mean he is worse off financially. He is trading and asset worth $23500 wholesale for an asset that is worth probably 12500 (at most) wholesale in order to save 7,000. Why would you step back $11k to save $7k? Not to mention in a couple yearS when he trades the corolla and its worth 6k the tacoma will still be worth 15-17. So now he's 10k behind when trading so he would have to save $400/ month for two years just to break even.

 

He can barely afford himself now, with little left to save. If something happens to him, the car, his place, etc it doesn't sound like he's prepared. All for the sake of owning this truck.

 

Trade, save, pay off, save more.

 

If it's got a sunroof, I say go for it.

 

Have you driven a corolla? They are lame to drive...but good on gas. Go drive a civic they are fun to drive...youll feel better after your taco is gone if you trade.

 

Yea I have no housing expenses, and I can currently save $400 monthly no prob, $500 but that would be stretching it. I recently got out of a credit card debt for some stuff I needed but didn't want to blow cash on (4 year old laptop took a shit on me) I just want to save more, and get rid of the payments already.

I have a wrap around rear bumper (cut bedsides) if I wanted to sell it, I'd pretty much have to trade the entire bed with some one with a white 2005+ tacoma,.

As for the front bumper, I (like a dumbass) when I took off the stock bumper I broke most of the mounting brackets off. :/ Never figured I would think of trading her in just to save money

Yea it's stuff like this that also makes me doubt the trade in. I'm not the type of person that would trade a vehicle in just cuz I'm tired of it or cuz I want a newer one. I just saw it as saving myself $7,000 in the long run and saving gas $$ in the short run. but I dunno I'm still gonna mull it over for a few days.

Not completely true. I live with my sis, its a very benificial situatio for both of us, I don't worry about rent, and take care of her kiddo from time to time. I can easily save $400, but I just want to save more. Is that what one would call being greedy?

That is the way I currently see it.

For the last year I've just dreamed of the day the truck would be paid off, and I do feel like i would have wasted all the money I've paid so far for nothing. It would kind of feel like I've paid the last two years towards the corolla. but my current debt would be cut in half, and that's all I see. haha

Everybody has great advice, but I still want to mull it over. I can get by just fine in my current situation. I just recently started saving again, and it's adding up nicely every month, I just HATE the though of paying another $14 grand and the thought of cutting that in half is VERY tempting.

 

Yea, I test drove a few, and I'm not looking for a fast car. I'm a practical guy, when I first got the truck I put her to good use every weekend, but now all she sees is the road between school and home. and the practical side of me says to trade in the truck for a car that would suit my needs. but the emotionally attached side, that bought the truck to one day take an awesome road trip ANYWHERE screams to keep it, and suck it up. haha

I don't have time for a job right now, and most places i've looked won't hire for just the weekend. and besides, I spend the better part of my weekends in school, learning two language simultaneously is no joke! haha

 

Not at all! Sounds like you ARE in a good spot to begin saving more. Factor in savings with the cost of gas as well as insurance, etc, and you'll be good. Sounds like you have a bright future, so it seems better to set up the life ahead of you rather than trudge through the coming years simply because you want the immediacy of a fun vehicle. Strangely enough, life has a way of blindsiding everyone, so best to be prepared. Good luck with whatever you decide.

 

Ink, I know you love your truck as much as I love mine!!

But IMO I would cut all expenses for a couple months:
Maybe drive your sisters car to school everyday she can take the truck if her work or school is closer (save on gas)
Eat like a college kid (eat top ramen)
....Just for a few months save all that money into a "Buy car fund w/ good MPG"

In the end keep the truck for your personal sanity and drive the car back and forth from school (saves money in gas, your miles your putting on the truck, in the end saves you, almost every die hard Taco fan would roll over before selling their truck) I know thats how I am...

I drive my wife's car onto post every day, Its sad because I would love to drive it more... but the gas I save is awesome, and only put miles on the truck over the weekends when its because I want to drive it

 

sell and get into a corolla. but don't get a '12. save yourself some money and get into an 09 or something. it will be just as nice (basically), you could get one with around 30k on it (nothing), and you will save a bunch of money. corollas are great cars! and if you're not using your truck as a truck and it's just draining your funds - get rid of it! good luck man

 

Hey man if you have no need for the truck. Ex. Towing. Sell it privately you'll get maybe 2k more. I'm a student barely making it too. So I get the feeling of needing or wanting some kind of financial Cushing. As far as your car choice it's ok I get the reliability aspect of it. So do it. The harder part would be saying good bye to you're truck but at the same time you will be dept free. I've watch Dave too. And I get the importance of being dept free. So good luck with whatever you end up doing.

 

What did you end up doing?

 

I still have my truck...

Get ready for this ridiculous little story...

I found a corolla about a week ago. 2011. The worksrolleyes: wait it's a corolla) sun roof and everything. Dealer offered me $23,000 for the truck. Car is $14,999 (negotiable) so I'd end up with about a $6,000 loan instead of my current $14,000 loan. Lower payments, better mpg. WIN WIN RIGHT?!?!?!

Dealership is not in SA, and over an hour away. Took off hell bent on trading in my truck. "I'm gonna do this, I'm gonna do this!" Well I'm about half way there, and the entire time I was driving I was feeling lik crap cuz I was about to give my baby away. I see a turn around, do an about face, and head on back home feeling like I had just bought the truck!!!

Shit, I'm too attached to this truck. I've done all the work on it myself along with the help of some buddies. But I'm still undecided.

I've read on a bunch of different forums already, that many people have traded in their truck for a smaller car and COMPLETELY regret it, only because they're so used to driving a truck. I know for sure I'd regret it, but the thought of financial freedom is tempting!!! But I've put so much effort into this truck!!!