Trade my 2016 for a 2023? Am I dumb?

Unless you’re offering grad school hookups and wine parties and faculty drama, I’m not writing one.

 

Go for it brother… I just went from a 2020 to 2023… love it.

 

I get you... the trick is to no out live one's assets. I've had several family members who ended up in nursing homes on medicaid. Although, I as well had an uncle who lived like a poor college student his entire life. He left his loser kids a +$1M.

 

Trick is not to get in debt. One needs to live within their means. Thats the big issue today...too many young people buy stuff they can't afford. When you have money...it's either to invest, or spend to bring happiness.

 

2016 is paid off and costs nothing but maintenance

2023 will have a car payment, and if it doesn't, that still means a nice chunk of change to pay the difference from the trade-in

I'd rather keep my money and keep the already reliable truck

 

I'm running my 2016 until the 5th Gens come out.

 

Spot on, they really need to teach a simple wealth management class in junior/senior year of HS. Been following a lot of reddit finance and Dave Ramsey and hearing some people spending decisions is bonkers. Generally its not from medical, its mortgages and car payments they cannot afford, student loans, all things common sense tell you to steer clear or not buy...they did. Beyond me why banks approve people for this also...

 

I kept my 2001 tundra 19 years till all the repairs needed didn't make sense to keep it any longer. In the meantime I invested wisely, able to pay for a new tacoma in 2020 with one fat check.

 

Because they have title to the vehicle as collateral, which will cover any loss if buyer defaults. But yeah, if a person doesn't have the credit/income to afford payment, then obviously shouldn't be approved and could be considered predatory.

 

Indeed, life is short. Just picked up a 2024 TUNDRA TRD Pro in Terra. Funny thing wasn't even looking to buy and while on vacation, spotted it on a lot with no mark-ups or buyers lined up. Had to check it out ... ugggggg ! Expensive but very nice upgrade. Dealer hadn't even put it on internet yet and just finished PDI, guess it was meant to be.

 

I agree that the trick is not to get any BAD debt. However, I believe you should get a lot of good debt, aka real estate.

but to the OP, I had nearly the same internal struggle earlier this year. I have a 2017 TRD 0R DCSB AT in white. I was going to buy the exact same truck, but a 2023 with a manual. A couple things prevented me from doing it, one was that the price they had it listed for was about $4000 less than what they would actually sell it for (crooks). I also don’t like the packages as much as the options in 2017. For example, you cannot get heated seats with a cloth anymore. And I prefer the old cloth to the new cement gray inserts. A few nice upgrades like the LED headlights and CarPlay.

I went full commit on the 2017 and started to do more mods which really helps with the itch for a new car. As someone else said, a full professional detail is also a great idea.