What should I make my next car purchase?

Yes thats what I'm thinking right now I'm still fairly young so having a Tacoma will open me to many new life experiences

 

I hear you. Sometimes you reach a point where you just want something that is new -- with a warranty. And, as you get older, you want something that is more comfortable. I loved my 2005 AC but frankly the 2020 TRD OR is way more comfortable and I am glad I bought it.

Honestly, it sounds like you know what you want but are afraid to admit it. If you go to a Toyota dealer and sit in the Camry and then sit in the Tacoma you will know instantly. It is okay to let your heart overrule your head once in a while. But you really can't go wrong with either decision.

Lots of financial advice here. And, frankly, much of it is very sound. But I see nothing wrong financially with buying a truck when you are 23 and having it for ten to fifteen years. There are some basic financial rules -- but many of those rules are also changing. We are living in a new world, for sure. Depending on what you buy, how much you pay, and your specific financial situation (which we can't know), getting a Tacoma can be a very reasonable choice for you.

Please do post back on what you decide ... and best of luck !

 

CamryWorld.com just doesn't have the same ring to it.. or the awesome members.

 

I agree!

 

Yea I am very frugal with my money that such a big purchase scares me a little but I do really like the Tacoma and frankly don't care for any other vehicle.. and for sure ill come back to show what I do end up getting

 

I would get one of three things:
4runner
Tundra
Mustang

 

Seems like you are deciding between a car and a truck so an SUV with some towing capabilities would be a good suggestion. I would go with the Ford when it comes to SUV's. That Bronco Sport looks pretty cool and is well with in your price range. First year out of box for it so you could let us know how it holds up. I just seen that it only tows 2,000 pounds so might want to look at something else. The Ford Edge tows 3,500ish I think. Hmmm? I don't know because like they said a Camry is hard to beat and that is why everyone has a Camry. I hate having a vehicle that everyone else has, but then again I have a Tacoma. Well I am glad that I could help you decide.

 

I trust that you are responsible enough to manage your own finances.

I will throw out two comments as food for thought. Lots of people will offer financial advice -- you can take it in, review and figure out what works for you.

But there is also something to be said about living your life, too. You are 23. You have lived through 9-11, the crash of 2008 and now the global pandemic of 2020. That's a lot! Sometimes you have to just live for the day ...

Not that getting a new or a slightly used Tacoma is exactly throwing caution to the wind. It will be reliable for many years, give you lots of enjoyment opportunities and if you get in trouble you can probably get rid of it rather quickly.

Sometimes new, reliable and highly valued is actually the smart play.

 

I literally only came into this thread because of the Niva thumbnail.

Didn't read the thread, don't care about the thread, I'm just gonna bump the Lada Niva.

Spoiler

the answer is Lada Niva

 

No one can blame you ... no one !

 

life isnt that short.

get what you can afford (easily). its better to be rich than to look rich. if i could send my younger self a note, i would tell me not to buy a few of my cars...

 

I thought about the 4runner but only like it when its modded out so I passed on it

 

Yea exactly if it turns out worst case scenario I know it will be fairly easy to get out of it..every Tacoma I have saved to look at sells fast

 

The Bronco looks awesome but its too much of a risky purchase for me

 

BTDT.

 

I'm a truck guy and I'm not happy unless I have a truck in the driveway . My Tacoma is all I need right now as far as a truck goes . Buy a truck !

 

I hear you. I really do.

But a few points of caution here, I think, are in order. Sorry, I love the intersection of financial planning, finances and cars. It fascinates me. If anyone is not into it ... feel free to move along.

First, I think the OP seems to be pretty pragmatic. Sure, they want a new Tacoma, but they also seem to be able to afford it. And they seem sensible about finances. So I take that person at their word that they can afford it.

Second, I don't think having a new Tacoma necessarily equates with "looking rich." Everyone has a different relationship with money ... but a new Tacoma doesn't shout rich. If someone does want to look rich -- that's their problem. Not my cup of tea ...but to each his or her own.

Third, this is where it gets interesting. Buying one new, under warranty, reliable, high-resale car, may be the best and the smartest play here. Stay with me. Your point -- that you would not have bought a few of your cars is well taken. No offense. But that is not what the OP is doing. They are not buying multiple cars but at 23 looking to buy one car that might get them 10 years easily and possible 15 (perhaps a bit of a stretch, I know). That's not bad. You can make a good case from a financial planning perspective that getting a new Tacoma is not a great financial move. But you can just as easily make the counter argument that is is the perfect financial move.

I have a friend who bought a very expensive car out of college. Everyone thought he was nuts. Car was expensive. But he wanted it and was willing to work for it. We are both in our 50s and he still has that car. It is a classic. And what is funny is that it is the only car he has owned since college. We once ran some spreadsheets with a few friends -- from a financial perspective he was way ahead of everyone. An extreme case, I know. But pretty interesting nonetheless.

Anyway ... sorry for the long post ... that is kind of sort of on topic. I happen to be a big fan of car buying strategy as it relates to financial planning. So, pardon me.

 

Ive seen a lot of nivas back home. They are great offroad, but the reliability is horrible. Russian cars in general are some of the worst cars in the world. My dad had a few and they constantly need repairs. He ended up getting a 85 golf, which was stellar. He drove it from germany himself.

 

Should add ‘...the glimmer from the check engine light leading his way’ to that glorious tale.

 

Buy with cash, don’t get tied down with any loan you can’t fully pay off in a month. Keep that habit and you will live free and not be a slave to a job or industry.
I know all about both sides, Oilfield worker.