Unbiased Opinions on Possible Vehicle Decision

[two_bit_score]

The number and types of vehicle titles will vary from state to state.

It's pretty well understood that laws vary from state to state to some degree.

But with a few exceptions they are pretty consistent due to NMVTIS; a lot has been standardized. In the name of consumer protection.


TBS

 

[two_bit_score]

I actually like the multi-vehicle idea. Its how I have always done it. I disagree about every day driving a paid for vehicle is making you money. Because another way to look at it.....if you dont plan on keeping the vehicle til the wheels fall off.....every mile you put on it is costing you money by lowering its value.

I have a dodge 3500 for plowing and pulling and hauling. And drive a 01 saturn for my work car. I commute ~30 miles one way, and saturns are very easy maintenance and fuel efficient. Bought it in 09 with 95k miles for $3k. It now has 195k and had minimal maintenance. I'd say it has more than paid for itself. And my 05 dodge 3500 diesel has 94k miles on it right now. My alternative would be to have that truck and nothing else, and be sitting on a 195k mile truck. I drive the car all I can. The truck gets driven when I need a truck.

Same with the wife. 08 nissan sentra "work" car. bought new and now has 155k miles. Aint worth ~$2500 to trade or sell now. But keeps the miles low on her Ram 1500 hemi, which is only used in the winter, or to haul more than just us and the kids comfortably.

For just commuting back and forth to work, with good road conditions, I think its silly to run the miles up on a nice vehicle. I aint out to impress anyone. I am about getting from point A to point B as efficiently as possible.

But given what you are looking to do, I would have to agree to just keep the truck, save up the $5-$6k and just buy the tacoma outright. But if the Ford isnt really what you "want" for a nice vehicle, then by all means get what you want.

People tend to keep doing what they've always done.

The depreciation is on a sliding scale. The first miles incur higher depreciation than the later miles. Eventually the depreciation becomes negligible usually somewhere about the time the payments end. This was especially true when the usual car note was not over 36 months and the standard down payment was 20% or more. You know that already but you want to keep doing what you've always done because you're comfortable with it. Good enough for me. It's individual choice. The car dealers need to make a living too.

Invest the money and keep driving the paid for car and you aren't spending it on a car note and it should be making you money. But if you 'need' a car then buy it.

A couple more old truths told to me by my elders:
One thing that's guaranteed to keep a working man poor is a "new" car.
Interest can make you rich or tear you a new one depending on if you are getting it or paying it. Learn the rule of 7/8ths.

TBS

 

[bspeedy]

It does when you say it that way. But there is also the benefit of having a spare vehicle if one of the others needs repair and also the benefit of gaining a second 4x4 vehicle.

But I understand your point.

Just for full disclosure - I am in the 3-vehicle club. Wife drives the 'good' family car. I have a 2002 Accord with 200k for commuting and transportation when it's just me, and I have my F250 diesel for when I am towing or hauling. Well - and two street bikes - almost forgot about those... Would not be without a third vehicle at this point. BUT - I have inside storage for all of them and enough room that I don't have to move one to use the other.

All are paid for and all should give me 10 more years of service before they are replaced. Yes - even the Honda. Bought it new and it's 100% road trip ready at all times. I'm 44 and plan to drive it to my retirement party.

My advice would be not to buy for an immediate want or perceived need. Buy a vehicle that you believe will work for you for the next 10 years (or more).

I would also advise you to keep some kind of full size truck. Nothing better than an old pickup when it's time to get some work done.

Good luck with your decision.

 

[RickB]

It's pretty well understood that laws vary from state to state to some degree.

But with a few exceptions they are pretty consistent due to NMVTIS; a lot has been standardized. In the name of consumer protection.


TBS

Well there are two types of titles referred to in this thread that do not exist in my state. I'm pretty certain the guys that mentioned them know what goes on in their own states. Theres nothing wrong with exercising caution when accepting advise concerning State's Rights matters from well meaning folks operating under different rules in different places. Since you bring up nationwide consistency, what about the conflict between the TSA and a handful of states that had 10 years to beef up their licensing requirements sufficiently to allow the issuee to board a domestic flightusing a driver's license as ID but failed? How consistent is that?

 

[ModMech]

Well I honestly cannot say this is COMPLETELY unbiased, because our daughter owns one, but.....

For vehicle #3, how about a Subaru Forester? They are REALLY safe, inexpensive to work on, have all wheel drive and can tow what you need it to.

I have been supremely impressed by their engineering, think of it this way: They seem to do a VERY good job at basic structural design and then just update the skin; keeping what works and tweaking what could be better. Because they have a tremendous amount of part commonality, "how-to" and cost are very reasonable.

 

[ModMech]

I actually like the multi-vehicle idea. Its how I have always done it. I disagree about every day driving a paid for vehicle is making you money. Because another way to look at it.....if you dont plan on keeping the vehicle til the wheels fall off.....every mile you put on it is costing you money by lowering its value.

Well the COST of operation and depreciation does not depend on whether or not you are paying on a note; they ALL require maintenance and cost so many cents per mile in depreciation.

That is a good point about not having any payments. For those of us that normally have a car payment of some kind, not having one would seem like you're saving $500/month (random number for car payment). But the flip side of that coin is every year you keep that vehicle, you're losing money on depreciation. Some vehicles lose it faster than others and the more miles you put on, the faster it drops.

You can fix a LOT for $6k/year!!!!!!!!!!!!!!!!!!!!!!

 

[truckdiagnostics]

We are into the multiple vehicle approach here. I have found that keeping your vehicles the same or as close to the same as you can pays off. There was a time we had three black geo prizms or Toyota corollas depending on how you want to look at it. They were the same very minor differences. Hit a deer with one swapped tires parts to the other, then it basically turned into a parts car. What is nice is once you figure out how to work on one you have the others figured out. The body parts even matched. The kids got bigger and we switched to the 2004-2006 chevy impala, when they started driving got two more. Have 5 right now the only difference is the color. The kid totaled one and we have been taking parts off ever since. The only thing left on that one is the body. One just blew a head gasket again it has 260,000, we are done with it we are going to start stealing parts off that one and send the body to the junk yard. We are down to 3 on the road now, with the lowest mileage one hitting 200,000. Wife refused to drive them anymore, last year we stepped her up to the Subaru outback, bought it used with just over 110,000 she puts about 30,000 a year so next year I will look for a new used one with less mileage for her and i'll use that one for my daily driver. The one boy likes them for going up north sking, so when his impala dies and he runs out of parts he is going to get one. We pretty much always have one or two spare cars. The point I am getting at is KEEP them the SAME! Look for a used vehicle just like what you have now. This has saved us a lot of money and time in the learning curve.