When To Sell?

My 2008 that I bought in 2010 that was paid off in 2013 = 7 years of no car payment. This is the math that works best for me.

 

SO TRUE...I'm holding on to an old Tahoe...has 185K (I think)...has a mud stain on the back seat...first fishing trip with my 5 year old son (he's 18 now), first stain in the truck. Dings in it from my girls (now 17 and 19) bringing their bikes in the garage....to me that vehicle is worth a lot - to others not so much.

 

To me it sounds like you have a LOT of sense...blue collar or white collar... I think keeping a vehicle a long time makes perfect sense!!!

 

^^^^^^^^^^^^^^^^^
This. And great looking GS.

 

Never, I've had my '96 for 24 years and will probably never sell my 2018 either.

 

I guess I am old school. I have never purchased a Vehicle new or used with the thoughts of how much I’ll get or when I should get rid of it. My last two purchases were a 2019 Camry XSE for my wife to replace her 2004 Camry SE that was sniffing at 300,000 miles. Then in December I bought a 2019 Tacoma sport 4 x 4 to replace my 2002 Tacoma off-road 4 x 4 that had well over 200,000 miles on it and blown head gasket. Dealer still offered me $1500 on a trade-in for it, so I took it.

 

why would you sell a perfectly running vehicle that has well established long term reliability? First off never buy brand new, buy new and the second it's off the lot you've just lost like 20k of value...not much of a hyperbole there. I never understood the buy and then sell and buy a new car mentality unless you're buying pos vehicles that break down after only 40-50k...I could see it then...but a toyota? I'd still be driving my 93 accord if it hadn't been stolen...still be driving my 93 ls400 with 315K if it hadn't been totaled by a deer...same with my 06 ls430.

What you'll spend in new fees/etc and continued payments will be greater than paying for repairs. Why make non-stop payments forever...get a reliable car, pay it off, make the payments to yourself to then pay for repairs...you won't have to do that long to save up a few grand which should cover even an engine rebuild (trans rebuild is just under 2k) but that's like...in 300,000+ miles Clutches are like under a grand...

Sorry, not trying to start shizz...I just don't get this mentality...it just seems like you're wasting money in my opinion even if you don't do repairs yourself

 

I think this depends on your goals. Do you want to drive a newish automobile constantly at the lowest cost? Do you want to drive a reliable automobile for the minimum cost? Do you want to drive a cheapest crap bucket for the minimum cost because you have plenty of time and ambition to buy parts at the junkyard and install them yourself? I don’t think there is any magic formula that applies to everyone’s personal taste.

 

I have a buddy that chronically buys automobiles in the $10k range and sells them again a year or so later for about the same price. His goal is not never lose money on a car purchase. I think he was a used car salesman in a former life.

 

It was a far better value to keep my '96 as opposed to selling it at some pre-determined point in time.
As I have driven it 414,000 miles over the 24 year period and have put VERY Little money into it over the years.

 

thanks - he's our 3rd...great one

 

when it costs u more to maintain … other wise drive it till It blows up .

 

This guy is selling his 2018 Tacoma for 80k: https://www.instagram.com/p/CCr5JPWH-GW/?igshid=dgkrrbveyiao

 

80K lol

 

Agreed.
You can literally buy 2 brand new 2020 Tacomas for that price.

Some people just don’t get that just because you spent that much on your truck doesn’t mean it’s now worth the money you put in.

 

when it's paid off and you can still sell it for 20k

 

2028. Should be right around the corner when we get a facelift for the 4th gen lol

 

and like financial guys tell you, if you take a loan out on a vehicle say for example a 4 year loan, then you need to at least drive it for 8 years to get your money back or if you don't care about payments then do what you want, its your money.