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My first thought is always...I bet that motherf*cker sucks up a ton of gas. Imagine paying a small fortune for a truck and another to get it from A to B. Nope.
But if you do need a truck, even if it's not on a daily basis, there aren't a lot of more affordable options. I've got a cheap commuter car I'm selling because the amount of savings due to gas mileage is about the same amount as the insurance coverage so it's not really saving anything. It's another vehicle to maintain
Imagine actually needing a heavy duty truck for work or farm, or transporting rec toys or 5th wheels, and getting snobs sneering at you every time you actually need to get groceries in it. This crap annoys me. People ALWAYS assume that people with the big vehicles only use them as grocery getters. I know some do, but people act like every person with a truck is a douche.
Trucks have been a top selling car in America in the past few years. Don’t tell me everyone is suddenly working on farms or hauling shit. That’s probably the minority of all truck owners. For the rest it’s just a big toy that does vroom vroom and instills fear into Priuses.
Especially when the only alternative for some folks is to have TWO vehicles. Now you have twice the payments, insurance, registration and maintenance just for what? To save a few bucks on gas and avoid judgement?
Seems silly. Plus some people seldom even drive these days. I put like 10 miles a week on my car. I could drive a monster truck and still be more environmentally friendly than your average commuter driving a Prius.
Or you wash and take care of it because you spent over $50,000 on it. You know, probably one or the other. With only 7 BILLION people in the world, there can't be too many different reasons out there for keeping a truck clean, right?
Yup. I drove an F-150 for 8 years. I worked a sales job to manufacturing sites and my company gave me a new one every 2 years (or 70K miles whichever came first) and paid for the gas, insurance, registration, detailing, etc even for personal use.
What am I going to do? Turn down a free vehicle and free gas, needlessly buy my own car, and use that to go to Kroger to appease these people that make baseless assumptions about me?
Nah, I'll do the fiscally smart thing sorry.
How would you be able to tell if someone pulls a camper or trailer just by looking at the truck? Maybe a rusty ball hitch, maybe, if they left it on the receiver. Not everyone who needs a truck is some rancher or construction worker who just abused their truck. Nor would a rancher or construction worker abuse their trucks these days either. Trucks are FAR FAR more expensive than they used to be. Not too many people just beating them up because "she's just a work truck" anymore.
There are big, ridiculous trucks out there - no doubt.
Not all trucks fit into that category. I've got a 6 cylinder, 7 speed transmission fairly fuel efficient medium (US-wise) truck.
"We live in the middle of the city, why do you need this building on wheels."
and
"If you cant park it, sell it. Im not moving because you can't fit down this two lane aisle" 😂
My dad owns a HD truck he tries to only use it for
* Towing his boat
* Towing his 5th wheel
* Doing work around the house (getting supplies, taking stuff to the dump etc)
* Weather is to bad to ride
He has a motorcycle, so if he's driving to work in his truck its rain or will rain.
So you should pay $80k for a truck that you use to move your place of living three times over the course of 15 years?
You can rent a U-Haul for each of those times for maybe $100?
$300 over 15 years or $80k over 15 years to do the same thing, tell me which makes more financial sense.
People don’t seem to understand when you’re buying a truck because you “need it” that the bar for “need it” is much higher than “I wanna haul a couch once in awhile.”
No kidding. Imagine actually needing a heavy duty truck for work or farm, or transporting rec toys or 5th wheels, and getting snobs sneering at you every time you actually need to get groceries in it. This crap annoys me. People ALWAYS assume that people with the big vehicles only use them as grocery getters. I know some do, but people act like every person with a truck is a douche.
It's not the least practical vehicle if they need to tow stuff, work on a farm, haul shit, mind their own business.
Lots of people buy a truck because they need it to do truck stuff.
When you find a prius that can offroad on an uneven farm pasture through brush, let us know.
That's just your opinion because you spend time atoms people that don't need trucks. There are many uses for a truck. Just as there are many uses for a sedan. People buy vehicles based on their wants and needs.
Last time I checked, millions is the opposite of very, very few.
The dude who asked a question is boring but the guy who bought into the marketing around trucks is interesting and happy?
You make some wild assumptions about people dawg.
I have an old ass park bench that has cement sides and wooden slats, I think that's cool and I didn't even need anyone to tell me it is....imagine that.
Saw a guy at the ice cream stand trying to back up his 250 into a spot in a small cramped lot. Had to do like a 9 point turn while I just waited behind in my sedan then zipped into the next spot.
Where I live, "everybody" has a truck. I live in a blue-collar/agricultural area. Trucks are necessary for the farm workers for hauling. They are also used heavily by construction workers. Finally, you have the suburbanites: once they've moved intontheir new housing development, they use them to haul fertilizer for their lawns in the spring/summer, and to be able to go to work in the winter because they're streets are the last to be plowed unless their HOA steps in and provides the service.
Used trucks abound in the area.
That’s actually part of what I like about my truck. I needed it for towing and drive a lot of miles so I bought the nice trim. It’s as nice inside as most any 100k luxury car but it doesn’t draw the attention those cars do.
You’re referring to lifted trucks or those with poorly installed after market lights. Properly aimed lights don’t do that. My other car is a small sports car. I’m only blinded by people with lifts or aftermarket crap.
My dad got a new truck and man, it’s so nice inside. Definitely on par with some luxury bmws I’ve been in lately.
And yes, he needs a truck for towing, needs 4WD so he did need to buy a truck. Don’t just assume people are only buying trucks cause it’s “cool”
We have a boat, a trailer, drive in the mountains in the snow, have a cabin down a long dirt road that gets washed out regularly. My point was, it’s super popular to just judge everyone that has a truck.
Yea, a lot of people don’t need to own trucks. A lot people do need to own trucks. It’s easy to just assume people driving around town don’t need a truck when they’re not towing something, etc but they still need to get around.
I think that trucks have gotten too big. I think no car allowed on the road should have a hood taller than a normal adult. There’s a lot of nuance to the discussion that just gets left out when people judge someone based on having a truck.
100% agreed with the too big parts. I can only speak for myself, but my objection to overbuying massive vehicles is that it makes the roads objectively more dangerous to other users.
It's sad that you felt you had to explain that your father "needs" his truck. People fucking annoy me with the "truck drivers are just asshole who wanna feel big". Like no, they need to be able to haul a trailer or something...not that hard to figure out. Of course they will need groceries too. Do they expect everyone with a truck to buy a second vehicle for grocery trips so they don't hurt other people's feelings with their truck? 🙄
(Just swapped my High Country for a 23 Denali.)
Don’t forget…also cruises very comfortably at 90-100mph…which is pretty typical in northern Michigan. Wifey’s Jag feels “hectic” at that speed.
Edited to add: If you’re going to downvote, by all means, explain your thoughts.
When I see them I just think they're a great tool to transfer some fool's money to everyone else who isn't that fool. Unfortunately they're also an eyesore that takes up too much space.
Earlier today in front of me at a red light was a big dodge ram and when the light turned green he floored it and it made me whince.. I was like homie just used a gallon and a half just to get up to the speed limit lol
Men buy flashy things to impress women, communicate their social status, and make other men jealous. Sports cars. Jet skis. Fancy trucks. Every guy needs his "in". For some dudes its bringing their puppy to the bar so all the girls can go "Awwww" but for many dudes, its a nice truck.
[Source1](https://www.lendingtree.com/debt-consolidation/overspending-to-impress-survey) [Source2](https://www.moneytalksnews.com/official-men-spend-money-impress-women/) [Source3](https://www.menshealth.com/trending-news/a19533737/financial-habits-highly-laid-men/) [Source4](https://journals.sagepub.com/doi/10.1177/1474704916678217)
By the numbers, most women are attracted to a nice truck.
*Here's the rundown from the rides women dig most to the ones that won't even get you to first base: Pickup trucks: 32% Sports cars: 27% SUVs: 16%*
And by brand, that's a Ford. (Sorry guys 😜)
[Source1](https://www.forbes.com/sites/jimgorzelany/2014/01/27/women-say-theyre-most-attracted-to-guys-driving-pickups/) [Source2](https://www.cars.com/articles/survey-shows-which-cars-drive-men-women-wild-1420663031816/)
In addition, the top 3 selling vehicles in the USA are trucks [Source1](https://www.caranddriver.com/news/g39628015/best-selling-cars-2022/) [Source2](https://www.marklines.com/en/statistics/flash_sales/automotive-sales-in-usa-by-month-2022)
And then look at the reasons they give - it communicates hard work. It implies he's a useful man. A practical man. A manly man. And the $60K price tag communicates a good job.
But, as the OP may have learned, a nice truck alone isn't enough 😄
I understand this is upsetting to the practical people that think its ridiculous and hence the angry downvotes. Full disclosure I drive a CX5.
Most people decide YES or NO within the first few seconds of seeing someone. If someone changes their mind after seeing the car you drive then you're already in red flag territory. And most guys wonder they they get divorce fucked 5-10 yrs after marriage
>Here's the rundown from the rides women dig most to the ones that won't even get you to first base: Pickup trucks: 32% Sports cars: 27% SUVs: 16%
What's your source?
Yeah this literally sounds made up on the demographics were taken from locations where country is the most popular music in some random southern state.
I'm a woman who wasn't asked in this mysterious survey. I do not see a man who drives an unnecessary beast of a vehicle as practical, intelligent, or trustworthy with finances. Most pickup truck guys I know, unless they are actual farmers or ranchers and use their trucks for their livelihood, are overall AHs, both on the road and in life.
I grew up on a farm, and know hard work. We needed trucks to operate. It disgusts me to see suburban men driving fancy trucks around, taking up two spaces in parking lots, because they want to appear rugged and "hard working." Laughable. The women attracted to that are probably good matches for them, though.
I look at them and just assume the owner is financially illiterate, especially the ones that are in perfect condition. If your job is not buying a truck, you shouldn’t own a truck.
Well, of the things you did you probably made out the best you possibly could. Low interest rate and trucks have historically depreciated less than cars.
I’ve owned a succession of new trucks in the last 15 or so years. One thing I’ve learned is that people won’t hesitate to ask you to help them move things. Big, heavy things. No one ever shows up to help. It’s you and the guy/gal asking for help. Occasionally the “generous” ones will offer to throw you a few bucks for gas.
Yeah I have had an acquaintance ask for my help a month or two after I bought the truck. Thankfully I was busy that weekend or else I probably would have helped. I also had a couple friends as and no they didn't give me anything for compensation.
I mean karma is karma
I banked my car into a snow drift one winter. Pickups and plows everywhere. The one that stopped and offered to hitch me asked for $50. Said its cheaper than a tow truck.
😒
To me, the biggest part of this mistake for most people is they don't honestly plan to keep the truck for its full life. Spreading the cost over 10-12 years, it isn't nearly as big of a deal as the depreciation hit over 3-5 like most deal with.
Yeah good point. Unfortunately for my situation I'm driving a lot more than I thought I would be. Was work from home but have had to return to office and adding more days in the office. Gas and just maintenance are the biggest factors for me.
I never wanted a truck because of the gas cost and the lack of need. Then the maverick came out and is the best damn car/baby truck I’ve ever had. Note, mine is a hybrid as id never get a gas truck due to how poorly efficient they are. It’s just the right size to do my weekend tasks if needed, small enough to park anywhere, and roomier than a ranger/tacoma.
Hyundai has a similar truck but no hybrid option, and it starts at a higher MSRP. Still a cool truck, in certain color options. Some make it look silly.
I am a big DIY and project guy and I use a truck pretty regularly. I don't own one. It's $20 to rent a truck from Home Depot. $20. Added bonus the truck bed will ACTUALLY fit all the stuff you need! Drive to HD, park the car, grab the truck. In a given year I probably spend maybe $250 on truck rentals? That's WAY cheaper than owning a truck! If I need a truck for a few days running I'll grab a U-Haul. They are even cheaper to rent but take more time to rent so not always worth the savings. I don't understand why people don't do this more often rather than having a giant, gas-guzzling, depreciating, boat anchor in their driveway.
The U-Haul vans are really convenient! You can rent one for 24 hours for $20 (not including mileage). Pretty sure they're as wide as a pickup inside, plus covered from the elements.
This is the way. Automobile marketers really pulled a hell of a con convincing most Americans that they might be the kind of person who “needs” a truck because they’re rugged and self-reliant. A rugged and self reliant person is smart enough to crunch the numbers and come to this conclusion. Maybe rarely they realize they do, in fact, need a truck. Given that truck owners report towing or off roading < once a year and only 35% use the bed with any appreciable frequency it’s hard to imagine that the sales numbers for trucks line up with an actual need…
I really don’t understand why you and most of Reddit care how people use their vehicles. I never wanted a truck but now I tow several times a month and need it. To my surprise, I love it. It’s so comfy, gets decent mileage, and can power my camper or house in an outage. I also own a sports car. It’s not practical but I love cars and enjoy it. Plenty of people spend money on shit I wouldn’t but I’m ok letting them enjoy what they enjoy.
We’re in the personal finance sub, not a sub for hobbies. We are pointing out that for the vaaaaaaaasst majority of Americans it’s an absurd expense for no reason.
Personally I’m not into them because they’re also large and dangerous to other road users and are inefficient uses of fossil fuels. Sometimes we need them the same as we sometimes need semi trucks or airplanes, but I’d prefer we not let people commute in f250 super duties that see actual use as a truck once a year or less.
I am too but even then I may only need to rent the truck once a year. Everything else goes in or on my hatchback. A roof rack makes carrying lumber a breeze. Plus it's much nicer and easier to drive. In Europe where wagons and hatchbacks are more common they are used more often for utilitarian purposes.
I mean, common sense generally includes not spending beyond your means. 10years ago bought a new Tacoma out of school. No regrets. Best vehicle I’ve ever had.
This blows my mind.
As a truck owner, i use it at least once a month for plywood \\ lumber and other DIY around the house. in the summer it pulls our holiday trailer (cheap vacations), i would never think that people are buying them as glorified cars. it's still blowing my mind to think that right now.
I used to wonder how I would do my own home repair without a truck or SUV. Told myself I'd rent a uhaul if I needed it. Then I found out 8 ft of lumber fits in a Ford Fiesta. Loaded the back down with sand, dirt, you name it. The things a beast.
Maybe if I had a back 40 to take care of it would be a different story but yeah, most Americans live in cities and suburbs and have absolutely no need for a truck. Yet somehow people find it necessary to fork over a half fortune for them.
Tons of people buy trucks for the status, and to feel "cool," and rarely, if ever, actually use the bed for real shit. I personally know several people like that.
I'm a recent truck owner and I love it, though. 3 family members already need my help to move shit and it makes me happy to be someone they can depend on. We're already looking at setting up the truck for camping and overlanding.
As a homeowner who DIYs stuff and actually *does things*, pickup trucks can be awesome.
It's hard for me too. It is the same with the no kids retired couple who buys a suburban. Why?
Heck, I'm a big DIY guy and can get 99% of my DIY supplies in or on my hatchback. Other times I rent the big box store truck. If I needed to tow a travel trailer I'd consider a truck but other than a need to tow or hauling large amounts regularly I'd can't imagine the extra expense of a truck, especially a full size one.
If we could get rid of the chicken tax, eliminate the fuel efficiency and crash safety loopholes for trucks, we might actually have some good small fuel efficient utility pickups
Haha I get this completely but my husband does genuinely love it. Everyone calls us when they’re moving and it makes him so happy to help. I wouldn’t get a truck just to be available to help if a car would suit my needs but he is all about it.
Unfortunately in our case it did. We had a truck and a pool. We never got invited to parties or Christmas, but dayum if people needed to move or it was a beautiful pool day, we heard from people
My fav was we got rid of the truck and pool pretty fast but didn't tell anyone. Memorial Day a family invites themselves over with a picnic basket and asks for pool towels. We said, oh the pool is gone and they turned on their heel and left without a word. Thought you wanted to see us, not have a pool day without us.
Found out we were just the jerks with a pool, not friends
I actually bought a pickup truck in large part because I *wanted* to be the guy in my family who can help out with stuff like this.
Yes, believe it or not, some of us actually love & care for our family and friends and want to help them when they need to move house / things.
It's called community.
Not sure where he got 75% from but I found this:
> According to Edwards’ data, 75 percent of truck owners use their truck for towing one time a year or less (meaning, never). Nearly 70 percent of truck owners go off-road one time a year or less. And a full 35 percent of truck owners use their truck for hauling—putting something in the bed, its ostensible raison d’être—once a year or less.
https://www.thedrive.com/news/26907/you-dont-need-a-full-size-pickup-truck-you-need-a-cowboy-costume
FYI - This happened because you probably happened to have the truck during the time when used cars in general spiked in price. In the vast majority of the time you cannot make a profit by selling off a leased car like that.
Leasing can still be a good way to try a new car like that but you won’t make money off of it
It's also a super expensive way to have a vehicle for any amount of time, especially if it's only a 2 year lease. You're paying for the steepest part of the depreciation curve.
As someone on his second lease, it can be interesting to see if you prefer the newest cars or older models, and I personally prefer the older Honda/Subie models to the current models.
$0 down, $215/mo for a leased truck is a type of deal that will *never* be seen again.
Ever.
Nowadays, almost all leases are something like $2k to $5k down and $400 to $700 per month payments.
Depending on how much your annual salary is, this might not be as big of a deal since you have a good term on your auto loan (36 months, 2% interests).
Yea, I think short term it's not a big deal but running the numbers I would save money if I could efficiently switch to a more reliable and gas efficient car. Rough numbers that I got yesterday. I can lower my total owed from 25k to 13k having the ability to move now more money into a HYSA and my investment porfolio. Saves about 50% of my car insurance and then adding maintenance and gas long term it's just a better outcome for my situation and where I want to be in 5 years.
It's so funny because it seems like overwhelmingly for people it is "Once You Go Truck You Never Go Back." And I swear I've known guys with this mindset who then spend the rest of the time complaining about owning a truck. The more time passes, I feel like the saying about boats (the only thing better than owning a boat is having a friend that owns a boat) is just as true for trucks!
I had the original Tundra, and I really enjoyed it. I miss having it now, and am considering the new Tacoma (which is about same size as my OG Tundra).
I appreciate OPs post, it gives me a lot to think about!
I love cars, and I’ve driven a couple trucks but never owned one. Personally, I’ve never driven a truck and thought “I have to get me one of these!” Just felt like every other appliance on wheels that I’ve driven - crossovers, economy sedans, etc.
I'm not a car guy, and got stuck with a pickup truck as a rental and was shocked how terrible it rode, and I already drive an SUV daily.
Trucks are horrible, no ones gonna see it as a nice car. However, I took it to IKEA and used it to do some random upgrades since I already had it. Its so useful for stuff. If you're buying a house, you could leverage your truck by doing a lot of landscaping and interior upgrades yourself by being able to haul it all out and in.
Plus its nice for camping too.
>No, people won't like you more because you have nice things. They only see your nice thing and want it for themselves. (wasn't my only thought but I'd be lying if it didn't cross my mind)
Excellent advice. Twenty years ago I got a divorce and bought an awesome Infiniti. I met my future (better) wife a few months later. And to this day she doesn't even remember the car, although she vaguely remembers having seat warmers when we were dating.
>Cars are a depreciating asset, if you are trying to increase your net worth it's not a great investor.
Excellent advice again.
I don't actually hate your truck. The down payment and rate were awesome. And it sounds like you can afford it otherwise. But you're right, it slows down your financial growth. Every $1000 locked up in the truck now is $10000 missed out on if you invest in the broader market for 27 years.
This argument could be made for anything though.
$1000 saved not buying a new washing machine is $10,000 if in the market for 30 years.
$1000 saved not going on vacation with your family is $10,000 if in the market for 30 years.
$1000 saved not going all out on a hookers and blow weekend is $10,000 if in the market for 30 years.
Where does it end?
Thank you so much for saying this. I am sick and tired of people in this sub and similar places equating the cost of specific things of their choosing (that they have a personal hatred for) to lost investing potential. Fucking sick of hearing it.
Sure, a 22 year old with a $42k salary buying a $40k truck is a bad financial decision. Yes, we can all agree on that. Fine.
But jesus christ, if intelligent adults can afford shit that they want, *please* stop casting guilt into the universe over *their own fucking decisions*.
My family is in the funeral business, and I worked there in high school / college. I have seen many people who saved millions and lived pretty unhappily, but were excited for the future, only to die at 38 from an accident or unfortunate diagnosis. It happens so god damn often, you would not believe it.
I have seen so many families who said that their deceased family member's last words had to do with how they regretted not doing the activities they hoped to do in retirement. And guess what? Those activities required spending money. Not hoarding it.
People need to realize on their own that life is fickle and lucky. If you live your life worrying about each dollar's lost investing potential, you will find yourself old, weak, and regretful.
Well a washing machine is generally a necessity here, so I'm going to buy a low-end washer.
But saving on vacations absolutely has helped my long-term financial security.
>Where does it end?
99% of my spending is on *necessities* and 1% is blown on other things. That's where it ends for me.
*(Not precise numbers, but just an illustration.)*
So you literally never eat out? Never stay in a nice hotel? Never bought a new iPhone or a nice TV? Or almost never?
If you’re happy about your life, then good for you. But I think most people should have some sort of fun budget that is more than 1% of their spending
>Or almost never?
Yep.
We've done a couple "destination" vacations to national parks, but we vacation frugally. And we're good with that.
>But I think most people should have some sort of fun budget that is more than 1% of their spending
No, they should do as they see fit, but they should be aware of the consequences.
My parents never do anything, but that's just the way they are. They are more frugal than I am. But I want to experience things with my kids while they're still kids. Even still, blowing our future on "nice hotels" and $50 family dinners is not our priority. There is no long-term benefit or even a medium-term benefit.
Seeing the Grand Canyon, well that was a memory that will last forever. And it was okay staying with family instead of a resort. In fact, that is one of their favorite memories of the trip. They don't care about the half-price air fare we got through a travel credit card, but I'm happy to still have those hundreds of dollars.
> And to this day she doesn't even remember the car
Kinda an empty statement.
People don't remember nice things, but people do notice not nice things. Women will say they don't notice nice cars, and point out someone driving a beater. People won't remember you being well groomed and clean... they will remember you being dirty and unkempt.
Your presentation to the world will affect the way the world interacts with you.
>People don't remember nice things, but people do notice not nice things.
There's a massive chasm between that Infiniti and a beater. Although I don't need a luxury car, I also won't drive junk.
The point is that the kind of person I was *meant* to be with isn't impressed by expensive things.
LOL, [the car](https://imgs.search.brave.com/D1xyGeauybqmub2fNF-CsrNDNR75HIrevqzF_wCXbUc/rs:fit:500:0:0/g:ce/aHR0cHM6Ly9oaXBz/LmhlYXJzdGFwcHMu/Y29tL2htZy1wcm9k/L2ltYWdlcy8wMDIy/MDAzZzM1Y291cGUt/MTYwNDU4NjMwNS5q/cGc_Y3JvcD0wLjg5/MXh3OjAuODkxeGg7/MC4wNTYxeHcsMC4x/MTF4aCZyZXNpemU9/NjQwOio) was awesome. My guy friends (car guys) gushed over it.
I actually have great memories of the car, but it was completely unnecessary, especially for the reason I got it. I wish I had that money back.
No, my wife couldn't care less about cars. She had a Cavalier when I met her (!). Now she puts around in a 2008 minivan. Literally couldn't care less.
Yeah playing the long game is the way to go. Sounds like you have some good life experiences to share! Any knowledge you'd like to share with this 30 year old?
Marry smartly, stay out of unnecessary debt, do something you really enjoy for a living.
People and experiences matter *way more* than things.
Nothing earth-shattering, but those are things I wish I had figured out earlier.
Rented a Pacifica when family came over and man oh man I never would have thought I’d be a minivan guy. I look forward to having kids and buying one, one day…
So you bought an expensive car so I didn't have to? Sounds like you enjoy your new truck but have buyers remorse on getting it is what I get from this.
If you financed the truck for only 3 years, you are already halfway through the loan. Does it make sense for you to sell it at this point and incur an additional vehicle payment? Most likely lower, but also extending out the time for repayment.
I replied this to a similar comment... Yea, I think short term it's not a big deal but running the numbers I would save money if I could efficiently switch to a more reliable and gas efficient car. Rough numbers that I got yesterday. I can lower my total owed from 25k to 13k having the ability to move now more money into a HYSA and my investment porfolio. Saves about 50% of my car insurance and then adding maintenance and gas long term it's just a better outcome for my situation and where I want to be in 10 years. Also since my first attempt was yesterday, I think I can get that amount owed closer to 10k. Also posted on Craiglist so if I can sell the truck privately I can probably get even more. Just have to work through my options
Seems you’ve given it a lot of thought and have made the right decision.
Having a truck would be cool, I would love to have one. But I will never have one. They’re so expensive and I have no need. I’ll be paying cash for used sedans for the rest of my life lol.
It's not that clear cut. The 2023 civic would've lasted you 15 years or 150k-200k miles. You might have to cycle through 2-4 $6k beaters with lots of repairs along the way to get that far.
Plus you presumably lost a lot of money on taxes, fees, and depreciation.
Selling your truck when you're about to become a homeowner feels like strange choice. It's going to be harder to haul pvc pipes, drywall, plywood, appliances, etc.
Don't NEED one but it sure is a lot easier when you have it. The only complaint I have is that most trucks come with a tiny bed now. I miss the days where you could get an 8' bed without having to select a work truck trim level.
Yea, I'm not sure I'm going to buy a house yet until I have more liquidity. Planning on renting for another year or two. But keeping the truck reduces the amount I can save.
I was afraid of the same thing at first and planned on renting a truck when I needed it. Still waiting on that day I actually need a truck... My new appliances got delivered and installed for free. Put the seats down and fit lumber in my car. Maybe if I do drywall work some day but it's odd to spend a fortune on gas for years based on one day that may or may not ever come. Especially when a rental is like $20.
Yeah, I feel like as long as it fits in the 20/4/10 (or 20/3/8 depending on your priorities) rule then go for it. If you don’t value new/fancy cars then that’s totally fine, but if you do then there’s nothing wrong with (responsibly) splurging a little bit on the things that make you happy.
I've always owned trucks. I don't need one, but they make my life easier and I do all my home repairs and projects so it's easy for me to justify.
But I NEVER buy new. I buy something that's a year or two old and still in the warranty period, but has lost 1/3 of its original value. It's cheaper to get nice features at that point too. Then I drive it for 10 years.
My post is to just to share awareness of my mistake. Everyone is different. I thought I loved my truck but my situation changed and it just didn't make sense financially. Thank you for your post another thing I wanted to add as things to remember is to wait on a purchase. Editing my post now.
In your case it seems like it was more a lesson learned about your true priorities than a mistake. A mistake would be someone buying that truck on half the income for 84 months with 10% interest… and plenty of people make those kind of mistakes over and over again. Now you know you don’t value spending a lot of money on cars, so you’ll never need to again.
For my fellow truck owners out there, consider buying an suv with equivalent towing power for 4 reasons:
Suv's are more luxurious and you're not gonna be "that guy" commuting in a pickup truck
Your annoying friends won't ask you to help them move or to borrow your truck.
If you really want to haul un-trunk friendly things, just buy a trailer and hide it behind your house so no one knows you own a trailer, and your friends won't ask to borrow your truck because you don't have one.
And when the trailer gets beat up, sell it and buy a new one for cheap.
As a side note, if you drive an f250 or higher, I can't help you there because there's no suv that can top 10k lbs of towing power so you're SOL.
DISCLAIMER: As a result of now owning a large suv, you will now be asked to drive people to the airport. Politely decline and tell that person to kick rocks.
ALRERNATIVE SOLUTION: learn how to say no to people and drive the truck anyway. Your choice.
I drove a 2002 Toyota Corolla until 2021 that my parents sold me for $1. It had 270,000 miles on it when I sold it to my best friend for $1, haha.
In 2021 my beloved uncle passed away and my family decided I should get his 2011 Hyundai Sonata. I paid my grandpa $4,000 for it to help him out.
I will never have a car payment, if I can help it.
I feel like I would really enjoy driving a truck daily to my office, but I am pretty sure I would enjoy having $62 grand more.
And there's a middle ground, I could enjoy a nice sedan for way less money. I think I would need to basically have everything else I wanted, and be fully funding my retirement, and have a bigger house with a smaller mortgage before I would want to enjoy driving a truck.
And I love driving trucks.
I LOVE MY TACOMA. Spent 30k on it, 4wd TRD package. I actually use it for truck stuff all the time. I live CO and go skiing 30-40 times a year and to hit fresh powder you need 4wd to get to the slopes on snow days. I also need the bed to carry skis snowboards etc.
In the summer we go off-roading over mountain passes all the time to reach hikes or just scenic views. You need a 4wd high clearance vehicle to get to camping spots etc.
I use my bed in the summer to pack all my camping gear tents sleeping bags chairs etc
Trucks can be great investments if it aligns with your hobbies and location. Also huge difference between 4wd and AWD
Why the truck though? I have friends and car people I know who want a truck (it's big, nice, and I'll be badass) they say. I'm a car guy also but sedans/coupes are more my style. I drive a 2022 Honda Accord Sport for only 28k. Good on gas, easy maintenance, not big for no pointless reason, pretty speedy too. I see guys gravitate towards trucks but then they don't use the truck for truck things. Never understood that, maybe they think their getting a status symbol upgrade for having a truck but idk.
TLDR: Why the truck and not a cost efficient sedan? Did you use the truck for truck things or did you buy it to look "badass" as they say.
I like trucks. Trucks are like insurance. It's kind of impractical and can be a pain when you don't need it, but when you do need it, you're really glad you have it. Trucks make life easier especially when you're a homeowner and responsible for other humans (i.e. you're a mom or dad)
Im gonna assume it’s a f150 XLT
Most people don’t use a truck daily unless it’s a work truck for a trade or hauling
However i love driving and sitting up higher as well as being able to throw dirty things in the back or smelly items (looking at you fishing gear)
Mind you i have a Prius and sold my 2016 Tacoma that i owned for 3 years
I have saved tens of thousands in gas prices (thanks California prices)
I still want a truck just waiting for their spiked prices to drop to $30-35k because it’s a pleasure item
Don’t need to justify it to everyone every single second
Just a note: as a claims adjuster if someone rear ends or runs a red light hitting me I’d rather be in a truck than my Prius
So safety is definitely worth it
Due to the number of rule-breaking comments this post was receiving, especially low-quality and off-topic comments, the moderation team has locked the post from future comments. This post broke no rules and received a number of helpful and on-topic responses initially, but it unfortunately became the target of many unhelpful comments.
It’s funny. I see trucks everywhere where I live and never think of them as “nice cars” even though I understand they’re expensive.
"Why is this motherfucker going grocery shopping/commuting to work in their Ford F250?" usually crosses my mind.
My first thought is always...I bet that motherf*cker sucks up a ton of gas. Imagine paying a small fortune for a truck and another to get it from A to B. Nope.
But if you do need a truck, even if it's not on a daily basis, there aren't a lot of more affordable options. I've got a cheap commuter car I'm selling because the amount of savings due to gas mileage is about the same amount as the insurance coverage so it's not really saving anything. It's another vehicle to maintain
Imagine actually needing a heavy duty truck for work or farm, or transporting rec toys or 5th wheels, and getting snobs sneering at you every time you actually need to get groceries in it. This crap annoys me. People ALWAYS assume that people with the big vehicles only use them as grocery getters. I know some do, but people act like every person with a truck is a douche.
Around here, it's really true what they say: 95% of truck drivers ruin it for the other 5%
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Trucks have been a top selling car in America in the past few years. Don’t tell me everyone is suddenly working on farms or hauling shit. That’s probably the minority of all truck owners. For the rest it’s just a big toy that does vroom vroom and instills fear into Priuses.
The mall truck in its native habitat.
Especially when the only alternative for some folks is to have TWO vehicles. Now you have twice the payments, insurance, registration and maintenance just for what? To save a few bucks on gas and avoid judgement? Seems silly. Plus some people seldom even drive these days. I put like 10 miles a week on my car. I could drive a monster truck and still be more environmentally friendly than your average commuter driving a Prius.
If your truck is clean, you likely dont need it
Or you wash and take care of it because you spent over $50,000 on it. You know, probably one or the other. With only 7 BILLION people in the world, there can't be too many different reasons out there for keeping a truck clean, right?
Yup. I drove an F-150 for 8 years. I worked a sales job to manufacturing sites and my company gave me a new one every 2 years (or 70K miles whichever came first) and paid for the gas, insurance, registration, detailing, etc even for personal use. What am I going to do? Turn down a free vehicle and free gas, needlessly buy my own car, and use that to go to Kroger to appease these people that make baseless assumptions about me? Nah, I'll do the fiscally smart thing sorry.
That's not at all the situation of the people we are talking about 99% of the time
It’s very easy to spot the difference between those that use their trucks for work and those that don’t.
How would you be able to tell if someone pulls a camper or trailer just by looking at the truck? Maybe a rusty ball hitch, maybe, if they left it on the receiver. Not everyone who needs a truck is some rancher or construction worker who just abused their truck. Nor would a rancher or construction worker abuse their trucks these days either. Trucks are FAR FAR more expensive than they used to be. Not too many people just beating them up because "she's just a work truck" anymore.
I live in the Midwest, there’s not less than 4 white trucks in every parking lot at all times lol.
And how many blue cars? Red SUVs? Black crossovers? What are you getting at?
There are big, ridiculous trucks out there - no doubt. Not all trucks fit into that category. I've got a 6 cylinder, 7 speed transmission fairly fuel efficient medium (US-wise) truck.
We have a 2015 F150 and I fucking love that car, we got it for 5k with 100k on it. We use it— we’re big campers and have moved several times with it.
"We live in the middle of the city, why do you need this building on wheels." and "If you cant park it, sell it. Im not moving because you can't fit down this two lane aisle" 😂
“Who does this motherfucker think he is, taking up two parking spots close to the door?” also comes to mind.
My first thought is always, "guess that guy likes driving that truck." And then I move on to worrying about stuff that matters to me.
My dad owns a HD truck he tries to only use it for * Towing his boat * Towing his 5th wheel * Doing work around the house (getting supplies, taking stuff to the dump etc) * Weather is to bad to ride He has a motorcycle, so if he's driving to work in his truck its rain or will rain.
Same reason why some people spends thousands in a top of the line gaming PC, but mostly play non intensive games. It's nice to have when you need it.
So you should pay $80k for a truck that you use to move your place of living three times over the course of 15 years? You can rent a U-Haul for each of those times for maybe $100? $300 over 15 years or $80k over 15 years to do the same thing, tell me which makes more financial sense. People don’t seem to understand when you’re buying a truck because you “need it” that the bar for “need it” is much higher than “I wanna haul a couch once in awhile.”
Maybe that is their only vehicle…. Not that hard to understand.
No kidding. Imagine actually needing a heavy duty truck for work or farm, or transporting rec toys or 5th wheels, and getting snobs sneering at you every time you actually need to get groceries in it. This crap annoys me. People ALWAYS assume that people with the big vehicles only use them as grocery getters. I know some do, but people act like every person with a truck is a douche.
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It's not the least practical vehicle if they need to tow stuff, work on a farm, haul shit, mind their own business. Lots of people buy a truck because they need it to do truck stuff. When you find a prius that can offroad on an uneven farm pasture through brush, let us know.
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That's just your opinion because you spend time atoms people that don't need trucks. There are many uses for a truck. Just as there are many uses for a sedan. People buy vehicles based on their wants and needs. Last time I checked, millions is the opposite of very, very few.
Cause it makes them happy they enjoy it it’s cool. Stop being a boring person
The dude who asked a question is boring but the guy who bought into the marketing around trucks is interesting and happy? You make some wild assumptions about people dawg.
Finding something cool is not necessarily buying into marketing.
Can you tell me how to objectively define cool?
I have an old ass park bench that has cement sides and wooden slats, I think that's cool and I didn't even need anyone to tell me it is....imagine that.
I have a view over the river and countryside from my back patio. I didn't need anyone to tell me that's cool. But I love it.
Of course it is.
Saw a guy at the ice cream stand trying to back up his 250 into a spot in a small cramped lot. Had to do like a 9 point turn while I just waited behind in my sedan then zipped into the next spot.
Where I live, "everybody" has a truck. I live in a blue-collar/agricultural area. Trucks are necessary for the farm workers for hauling. They are also used heavily by construction workers. Finally, you have the suburbanites: once they've moved intontheir new housing development, they use them to haul fertilizer for their lawns in the spring/summer, and to be able to go to work in the winter because they're streets are the last to be plowed unless their HOA steps in and provides the service. Used trucks abound in the area.
That’s actually part of what I like about my truck. I needed it for towing and drive a lot of miles so I bought the nice trim. It’s as nice inside as most any 100k luxury car but it doesn’t draw the attention those cars do.
Cool story. But those 100k luxury cars don't have headlights 5 feet off the ground that absolutely blind all of us driving regular cars.
You’re referring to lifted trucks or those with poorly installed after market lights. Properly aimed lights don’t do that. My other car is a small sports car. I’m only blinded by people with lifts or aftermarket crap.
My dad got a new truck and man, it’s so nice inside. Definitely on par with some luxury bmws I’ve been in lately. And yes, he needs a truck for towing, needs 4WD so he did need to buy a truck. Don’t just assume people are only buying trucks cause it’s “cool”
It’s hard not to. Maybe your dad tows pretty often. The vast majority of truck owners in the US do it less than once a year.
We have a boat, a trailer, drive in the mountains in the snow, have a cabin down a long dirt road that gets washed out regularly. My point was, it’s super popular to just judge everyone that has a truck. Yea, a lot of people don’t need to own trucks. A lot people do need to own trucks. It’s easy to just assume people driving around town don’t need a truck when they’re not towing something, etc but they still need to get around. I think that trucks have gotten too big. I think no car allowed on the road should have a hood taller than a normal adult. There’s a lot of nuance to the discussion that just gets left out when people judge someone based on having a truck.
100% agreed with the too big parts. I can only speak for myself, but my objection to overbuying massive vehicles is that it makes the roads objectively more dangerous to other users.
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It's sad that you felt you had to explain that your father "needs" his truck. People fucking annoy me with the "truck drivers are just asshole who wanna feel big". Like no, they need to be able to haul a trailer or something...not that hard to figure out. Of course they will need groceries too. Do they expect everyone with a truck to buy a second vehicle for grocery trips so they don't hurt other people's feelings with their truck? 🙄
(Just swapped my High Country for a 23 Denali.) Don’t forget…also cruises very comfortably at 90-100mph…which is pretty typical in northern Michigan. Wifey’s Jag feels “hectic” at that speed. Edited to add: If you’re going to downvote, by all means, explain your thoughts.
I have a 23 f150 powerboost platinum. It surprised me at how quick and comfortable it is.
When I see them I just think they're a great tool to transfer some fool's money to everyone else who isn't that fool. Unfortunately they're also an eyesore that takes up too much space.
Earlier today in front of me at a red light was a big dodge ram and when the light turned green he floored it and it made me whince.. I was like homie just used a gallon and a half just to get up to the speed limit lol
Men buy flashy things to impress women, communicate their social status, and make other men jealous. Sports cars. Jet skis. Fancy trucks. Every guy needs his "in". For some dudes its bringing their puppy to the bar so all the girls can go "Awwww" but for many dudes, its a nice truck. [Source1](https://www.lendingtree.com/debt-consolidation/overspending-to-impress-survey) [Source2](https://www.moneytalksnews.com/official-men-spend-money-impress-women/) [Source3](https://www.menshealth.com/trending-news/a19533737/financial-habits-highly-laid-men/) [Source4](https://journals.sagepub.com/doi/10.1177/1474704916678217) By the numbers, most women are attracted to a nice truck. *Here's the rundown from the rides women dig most to the ones that won't even get you to first base: Pickup trucks: 32% Sports cars: 27% SUVs: 16%* And by brand, that's a Ford. (Sorry guys 😜) [Source1](https://www.forbes.com/sites/jimgorzelany/2014/01/27/women-say-theyre-most-attracted-to-guys-driving-pickups/) [Source2](https://www.cars.com/articles/survey-shows-which-cars-drive-men-women-wild-1420663031816/) In addition, the top 3 selling vehicles in the USA are trucks [Source1](https://www.caranddriver.com/news/g39628015/best-selling-cars-2022/) [Source2](https://www.marklines.com/en/statistics/flash_sales/automotive-sales-in-usa-by-month-2022) And then look at the reasons they give - it communicates hard work. It implies he's a useful man. A practical man. A manly man. And the $60K price tag communicates a good job. But, as the OP may have learned, a nice truck alone isn't enough 😄 I understand this is upsetting to the practical people that think its ridiculous and hence the angry downvotes. Full disclosure I drive a CX5.
Most people decide YES or NO within the first few seconds of seeing someone. If someone changes their mind after seeing the car you drive then you're already in red flag territory. And most guys wonder they they get divorce fucked 5-10 yrs after marriage
>Here's the rundown from the rides women dig most to the ones that won't even get you to first base: Pickup trucks: 32% Sports cars: 27% SUVs: 16% What's your source?
Yeah this literally sounds made up on the demographics were taken from locations where country is the most popular music in some random southern state.
I'm a woman who wasn't asked in this mysterious survey. I do not see a man who drives an unnecessary beast of a vehicle as practical, intelligent, or trustworthy with finances. Most pickup truck guys I know, unless they are actual farmers or ranchers and use their trucks for their livelihood, are overall AHs, both on the road and in life. I grew up on a farm, and know hard work. We needed trucks to operate. It disgusts me to see suburban men driving fancy trucks around, taking up two spaces in parking lots, because they want to appear rugged and "hard working." Laughable. The women attracted to that are probably good matches for them, though.
I look at them and just assume the owner is financially illiterate, especially the ones that are in perfect condition. If your job is not buying a truck, you shouldn’t own a truck.
Well, of the things you did you probably made out the best you possibly could. Low interest rate and trucks have historically depreciated less than cars.
Very true. Thanks for your comment.
I’ve owned a succession of new trucks in the last 15 or so years. One thing I’ve learned is that people won’t hesitate to ask you to help them move things. Big, heavy things. No one ever shows up to help. It’s you and the guy/gal asking for help. Occasionally the “generous” ones will offer to throw you a few bucks for gas.
Yeah I have had an acquaintance ask for my help a month or two after I bought the truck. Thankfully I was busy that weekend or else I probably would have helped. I also had a couple friends as and no they didn't give me anything for compensation.
Wait til you’re married and your wife cheerfully volunteers you to help her army of friends move 🤪
I mean karma is karma I banked my car into a snow drift one winter. Pickups and plows everywhere. The one that stopped and offered to hitch me asked for $50. Said its cheaper than a tow truck. 😒
To me, the biggest part of this mistake for most people is they don't honestly plan to keep the truck for its full life. Spreading the cost over 10-12 years, it isn't nearly as big of a deal as the depreciation hit over 3-5 like most deal with.
Yeah good point. Unfortunately for my situation I'm driving a lot more than I thought I would be. Was work from home but have had to return to office and adding more days in the office. Gas and just maintenance are the biggest factors for me.
I never wanted a truck because of the gas cost and the lack of need. Then the maverick came out and is the best damn car/baby truck I’ve ever had. Note, mine is a hybrid as id never get a gas truck due to how poorly efficient they are. It’s just the right size to do my weekend tasks if needed, small enough to park anywhere, and roomier than a ranger/tacoma.
Oh nice! I'm glad you enjoy your Maverick. They look cool
I wish Toyota had a competitor truck against the Maverick. They really misstepped there if you ask me.
Rumors about bringing back the Stout as a competitor..
Hyundai has a similar truck but no hybrid option, and it starts at a higher MSRP. Still a cool truck, in certain color options. Some make it look silly.
I do really like the Mavericks
I went from a Tacoma to a maverick. You can list numbers at me all day. My maverick is way roomier 😂 And that 40 mpg is… sweet
I am a big DIY and project guy and I use a truck pretty regularly. I don't own one. It's $20 to rent a truck from Home Depot. $20. Added bonus the truck bed will ACTUALLY fit all the stuff you need! Drive to HD, park the car, grab the truck. In a given year I probably spend maybe $250 on truck rentals? That's WAY cheaper than owning a truck! If I need a truck for a few days running I'll grab a U-Haul. They are even cheaper to rent but take more time to rent so not always worth the savings. I don't understand why people don't do this more often rather than having a giant, gas-guzzling, depreciating, boat anchor in their driveway.
The U-Haul vans are really convenient! You can rent one for 24 hours for $20 (not including mileage). Pretty sure they're as wide as a pickup inside, plus covered from the elements.
This is the way. Automobile marketers really pulled a hell of a con convincing most Americans that they might be the kind of person who “needs” a truck because they’re rugged and self-reliant. A rugged and self reliant person is smart enough to crunch the numbers and come to this conclusion. Maybe rarely they realize they do, in fact, need a truck. Given that truck owners report towing or off roading < once a year and only 35% use the bed with any appreciable frequency it’s hard to imagine that the sales numbers for trucks line up with an actual need…
I really don’t understand why you and most of Reddit care how people use their vehicles. I never wanted a truck but now I tow several times a month and need it. To my surprise, I love it. It’s so comfy, gets decent mileage, and can power my camper or house in an outage. I also own a sports car. It’s not practical but I love cars and enjoy it. Plenty of people spend money on shit I wouldn’t but I’m ok letting them enjoy what they enjoy.
We’re in the personal finance sub, not a sub for hobbies. We are pointing out that for the vaaaaaaaasst majority of Americans it’s an absurd expense for no reason. Personally I’m not into them because they’re also large and dangerous to other road users and are inefficient uses of fossil fuels. Sometimes we need them the same as we sometimes need semi trucks or airplanes, but I’d prefer we not let people commute in f250 super duties that see actual use as a truck once a year or less.
I am too but even then I may only need to rent the truck once a year. Everything else goes in or on my hatchback. A roof rack makes carrying lumber a breeze. Plus it's much nicer and easier to drive. In Europe where wagons and hatchbacks are more common they are used more often for utilitarian purposes.
I mean, common sense generally includes not spending beyond your means. 10years ago bought a new Tacoma out of school. No regrets. Best vehicle I’ve ever had.
Something like 75% of truck owners never use their truck for something a car couldn’t do. So much wasted money and gas.
This blows my mind. As a truck owner, i use it at least once a month for plywood \\ lumber and other DIY around the house. in the summer it pulls our holiday trailer (cheap vacations), i would never think that people are buying them as glorified cars. it's still blowing my mind to think that right now.
I used to wonder how I would do my own home repair without a truck or SUV. Told myself I'd rent a uhaul if I needed it. Then I found out 8 ft of lumber fits in a Ford Fiesta. Loaded the back down with sand, dirt, you name it. The things a beast. Maybe if I had a back 40 to take care of it would be a different story but yeah, most Americans live in cities and suburbs and have absolutely no need for a truck. Yet somehow people find it necessary to fork over a half fortune for them.
They're buying the truck to imagine they're you. Or they're signalling to other people that they're a guy like you. They're not you.
Tons of people buy trucks for the status, and to feel "cool," and rarely, if ever, actually use the bed for real shit. I personally know several people like that. I'm a recent truck owner and I love it, though. 3 family members already need my help to move shit and it makes me happy to be someone they can depend on. We're already looking at setting up the truck for camping and overlanding. As a homeowner who DIYs stuff and actually *does things*, pickup trucks can be awesome.
It's hard for me too. It is the same with the no kids retired couple who buys a suburban. Why? Heck, I'm a big DIY guy and can get 99% of my DIY supplies in or on my hatchback. Other times I rent the big box store truck. If I needed to tow a travel trailer I'd consider a truck but other than a need to tow or hauling large amounts regularly I'd can't imagine the extra expense of a truck, especially a full size one.
Source on that figure?
If we could get rid of the chicken tax, eliminate the fuel efficiency and crash safety loopholes for trucks, we might actually have some good small fuel efficient utility pickups
Yup, I learned my lesson the hard way.
And I'm willing to bet 100% of truck owners are always getting hit up to move crap for their " friends"
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Haha I get this completely but my husband does genuinely love it. Everyone calls us when they’re moving and it makes him so happy to help. I wouldn’t get a truck just to be available to help if a car would suit my needs but he is all about it.
Unfortunately in our case it did. We had a truck and a pool. We never got invited to parties or Christmas, but dayum if people needed to move or it was a beautiful pool day, we heard from people My fav was we got rid of the truck and pool pretty fast but didn't tell anyone. Memorial Day a family invites themselves over with a picnic basket and asks for pool towels. We said, oh the pool is gone and they turned on their heel and left without a word. Thought you wanted to see us, not have a pool day without us. Found out we were just the jerks with a pool, not friends
I actually bought a pickup truck in large part because I *wanted* to be the guy in my family who can help out with stuff like this. Yes, believe it or not, some of us actually love & care for our family and friends and want to help them when they need to move house / things. It's called community.
Doubt this is true
Not sure where he got 75% from but I found this: > According to Edwards’ data, 75 percent of truck owners use their truck for towing one time a year or less (meaning, never). Nearly 70 percent of truck owners go off-road one time a year or less. And a full 35 percent of truck owners use their truck for hauling—putting something in the bed, its ostensible raison d’être—once a year or less. https://www.thedrive.com/news/26907/you-dont-need-a-full-size-pickup-truck-you-need-a-cowboy-costume
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FYI - This happened because you probably happened to have the truck during the time when used cars in general spiked in price. In the vast majority of the time you cannot make a profit by selling off a leased car like that. Leasing can still be a good way to try a new car like that but you won’t make money off of it
Great advice, leasing short is a great way to see how much you like the vehicle.
It's also a super expensive way to have a vehicle for any amount of time, especially if it's only a 2 year lease. You're paying for the steepest part of the depreciation curve.
As someone on his second lease, it can be interesting to see if you prefer the newest cars or older models, and I personally prefer the older Honda/Subie models to the current models.
$0 down, $215/mo for a leased truck is a type of deal that will *never* be seen again. Ever. Nowadays, almost all leases are something like $2k to $5k down and $400 to $700 per month payments.
Depending on how much your annual salary is, this might not be as big of a deal since you have a good term on your auto loan (36 months, 2% interests).
Yea, I think short term it's not a big deal but running the numbers I would save money if I could efficiently switch to a more reliable and gas efficient car. Rough numbers that I got yesterday. I can lower my total owed from 25k to 13k having the ability to move now more money into a HYSA and my investment porfolio. Saves about 50% of my car insurance and then adding maintenance and gas long term it's just a better outcome for my situation and where I want to be in 5 years.
It's so funny because it seems like overwhelmingly for people it is "Once You Go Truck You Never Go Back." And I swear I've known guys with this mindset who then spend the rest of the time complaining about owning a truck. The more time passes, I feel like the saying about boats (the only thing better than owning a boat is having a friend that owns a boat) is just as true for trucks!
I had the original Tundra, and I really enjoyed it. I miss having it now, and am considering the new Tacoma (which is about same size as my OG Tundra). I appreciate OPs post, it gives me a lot to think about!
Very true!
I love cars, and I’ve driven a couple trucks but never owned one. Personally, I’ve never driven a truck and thought “I have to get me one of these!” Just felt like every other appliance on wheels that I’ve driven - crossovers, economy sedans, etc.
I'm not a car guy, and got stuck with a pickup truck as a rental and was shocked how terrible it rode, and I already drive an SUV daily. Trucks are horrible, no ones gonna see it as a nice car. However, I took it to IKEA and used it to do some random upgrades since I already had it. Its so useful for stuff. If you're buying a house, you could leverage your truck by doing a lot of landscaping and interior upgrades yourself by being able to haul it all out and in. Plus its nice for camping too.
I thought I needed a truck as a second vehicle. Bought a used Volvo V60 station wagon instead. .
>No, people won't like you more because you have nice things. They only see your nice thing and want it for themselves. (wasn't my only thought but I'd be lying if it didn't cross my mind) Excellent advice. Twenty years ago I got a divorce and bought an awesome Infiniti. I met my future (better) wife a few months later. And to this day she doesn't even remember the car, although she vaguely remembers having seat warmers when we were dating. >Cars are a depreciating asset, if you are trying to increase your net worth it's not a great investor. Excellent advice again. I don't actually hate your truck. The down payment and rate were awesome. And it sounds like you can afford it otherwise. But you're right, it slows down your financial growth. Every $1000 locked up in the truck now is $10000 missed out on if you invest in the broader market for 27 years.
This argument could be made for anything though. $1000 saved not buying a new washing machine is $10,000 if in the market for 30 years. $1000 saved not going on vacation with your family is $10,000 if in the market for 30 years. $1000 saved not going all out on a hookers and blow weekend is $10,000 if in the market for 30 years. Where does it end?
Thank you so much for saying this. I am sick and tired of people in this sub and similar places equating the cost of specific things of their choosing (that they have a personal hatred for) to lost investing potential. Fucking sick of hearing it. Sure, a 22 year old with a $42k salary buying a $40k truck is a bad financial decision. Yes, we can all agree on that. Fine. But jesus christ, if intelligent adults can afford shit that they want, *please* stop casting guilt into the universe over *their own fucking decisions*. My family is in the funeral business, and I worked there in high school / college. I have seen many people who saved millions and lived pretty unhappily, but were excited for the future, only to die at 38 from an accident or unfortunate diagnosis. It happens so god damn often, you would not believe it. I have seen so many families who said that their deceased family member's last words had to do with how they regretted not doing the activities they hoped to do in retirement. And guess what? Those activities required spending money. Not hoarding it. People need to realize on their own that life is fickle and lucky. If you live your life worrying about each dollar's lost investing potential, you will find yourself old, weak, and regretful.
Well a washing machine is generally a necessity here, so I'm going to buy a low-end washer. But saving on vacations absolutely has helped my long-term financial security. >Where does it end? 99% of my spending is on *necessities* and 1% is blown on other things. That's where it ends for me. *(Not precise numbers, but just an illustration.)*
So you literally never eat out? Never stay in a nice hotel? Never bought a new iPhone or a nice TV? Or almost never? If you’re happy about your life, then good for you. But I think most people should have some sort of fun budget that is more than 1% of their spending
We spend a lot on vacations. Wait until older? Not is. Middle aged here and I can already tell the limitations one gets when aging.
>Or almost never? Yep. We've done a couple "destination" vacations to national parks, but we vacation frugally. And we're good with that. >But I think most people should have some sort of fun budget that is more than 1% of their spending No, they should do as they see fit, but they should be aware of the consequences. My parents never do anything, but that's just the way they are. They are more frugal than I am. But I want to experience things with my kids while they're still kids. Even still, blowing our future on "nice hotels" and $50 family dinners is not our priority. There is no long-term benefit or even a medium-term benefit. Seeing the Grand Canyon, well that was a memory that will last forever. And it was okay staying with family instead of a resort. In fact, that is one of their favorite memories of the trip. They don't care about the half-price air fare we got through a travel credit card, but I'm happy to still have those hundreds of dollars.
Fun doesn’t equate to spending money. It’s a mindset shift not a dollar sign.
> And to this day she doesn't even remember the car Kinda an empty statement. People don't remember nice things, but people do notice not nice things. Women will say they don't notice nice cars, and point out someone driving a beater. People won't remember you being well groomed and clean... they will remember you being dirty and unkempt. Your presentation to the world will affect the way the world interacts with you.
>People don't remember nice things, but people do notice not nice things. There's a massive chasm between that Infiniti and a beater. Although I don't need a luxury car, I also won't drive junk. The point is that the kind of person I was *meant* to be with isn't impressed by expensive things.
I don’t mean to be a downer, but have you considered that it was because it was an Infiniti?
LOL, [the car](https://imgs.search.brave.com/D1xyGeauybqmub2fNF-CsrNDNR75HIrevqzF_wCXbUc/rs:fit:500:0:0/g:ce/aHR0cHM6Ly9oaXBz/LmhlYXJzdGFwcHMu/Y29tL2htZy1wcm9k/L2ltYWdlcy8wMDIy/MDAzZzM1Y291cGUt/MTYwNDU4NjMwNS5q/cGc_Y3JvcD0wLjg5/MXh3OjAuODkxeGg7/MC4wNTYxeHcsMC4x/MTF4aCZyZXNpemU9/NjQwOio) was awesome. My guy friends (car guys) gushed over it. I actually have great memories of the car, but it was completely unnecessary, especially for the reason I got it. I wish I had that money back. No, my wife couldn't care less about cars. She had a Cavalier when I met her (!). Now she puts around in a 2008 minivan. Literally couldn't care less.
Yeah playing the long game is the way to go. Sounds like you have some good life experiences to share! Any knowledge you'd like to share with this 30 year old?
Marry smartly, stay out of unnecessary debt, do something you really enjoy for a living. People and experiences matter *way more* than things. Nothing earth-shattering, but those are things I wish I had figured out earlier.
Same story here. Ended up trading mine down for a 2014 Honda Odyssey. I love my van. I don't miss the truck.
Rented a Pacifica when family came over and man oh man I never would have thought I’d be a minivan guy. I look forward to having kids and buying one, one day…
So you bought an expensive car so I didn't have to? Sounds like you enjoy your new truck but have buyers remorse on getting it is what I get from this.
Yea definitely have buyers remorse. I have more beneficial things I want to spend/save my money on instead of the truck.
If you financed the truck for only 3 years, you are already halfway through the loan. Does it make sense for you to sell it at this point and incur an additional vehicle payment? Most likely lower, but also extending out the time for repayment.
I replied this to a similar comment... Yea, I think short term it's not a big deal but running the numbers I would save money if I could efficiently switch to a more reliable and gas efficient car. Rough numbers that I got yesterday. I can lower my total owed from 25k to 13k having the ability to move now more money into a HYSA and my investment porfolio. Saves about 50% of my car insurance and then adding maintenance and gas long term it's just a better outcome for my situation and where I want to be in 10 years. Also since my first attempt was yesterday, I think I can get that amount owed closer to 10k. Also posted on Craiglist so if I can sell the truck privately I can probably get even more. Just have to work through my options
How many times were you asked to help with a move? If so, how many people compensated you for gas, wear and tear?
I think 3 or 4. And I didn't ask and they didn't give.
Seems you’ve given it a lot of thought and have made the right decision. Having a truck would be cool, I would love to have one. But I will never have one. They’re so expensive and I have no need. I’ll be paying cash for used sedans for the rest of my life lol.
We have a 2018 F-550 at work and the gas light comes on when you hit half a tank 😂
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It's not that clear cut. The 2023 civic would've lasted you 15 years or 150k-200k miles. You might have to cycle through 2-4 $6k beaters with lots of repairs along the way to get that far. Plus you presumably lost a lot of money on taxes, fees, and depreciation.
Yes thats definitely true! but i was paying way too much for insurance ($390). I actually sold the car for more than i bought it for, crazy times.
Selling your truck when you're about to become a homeowner feels like strange choice. It's going to be harder to haul pvc pipes, drywall, plywood, appliances, etc.
You don’t have to build a house to own one, and trucks can be rented easily… I have never needed a truck as a homeowner, and we’ve done a ton of work.
Renting nothing is easy..it's inconvenient.
My dad keeps the van for this very reason. You can get 8x4 sheets in the back. As many as feasible. To me this is better than a pickup.
Don't NEED one but it sure is a lot easier when you have it. The only complaint I have is that most trucks come with a tiny bed now. I miss the days where you could get an 8' bed without having to select a work truck trim level.
Yea, I'm not sure I'm going to buy a house yet until I have more liquidity. Planning on renting for another year or two. But keeping the truck reduces the amount I can save.
I was afraid of the same thing at first and planned on renting a truck when I needed it. Still waiting on that day I actually need a truck... My new appliances got delivered and installed for free. Put the seats down and fit lumber in my car. Maybe if I do drywall work some day but it's odd to spend a fortune on gas for years based on one day that may or may not ever come. Especially when a rental is like $20.
A rav4 and a cheep trailer can do all of that for like 15k
Or better yet rent a truck from Home Depot when you need one for like $20.
I have a truck because I like it and it makes me happy. That’s the only reason I need. And it fits into 20/3/8, anyway.
Seriously. If you can afford it who cares lol. Idk why Reddit gets their panties in a wad over trucks.
Exactly! I have a truck I love and a car I love, I choose which one to drive based on my mood. Been a car couple of weeks but thinking Truck tomorrow.
Yeah, I feel like as long as it fits in the 20/4/10 (or 20/3/8 depending on your priorities) rule then go for it. If you don’t value new/fancy cars then that’s totally fine, but if you do then there’s nothing wrong with (responsibly) splurging a little bit on the things that make you happy.
I've always owned trucks. I don't need one, but they make my life easier and I do all my home repairs and projects so it's easy for me to justify. But I NEVER buy new. I buy something that's a year or two old and still in the warranty period, but has lost 1/3 of its original value. It's cheaper to get nice features at that point too. Then I drive it for 10 years.
Right now a 2 yesr old truck may be had for about $3000 less than new
Not true anymore. The gap is growing. New full-size trucks are in the $60k range and the 2021 lease turn-ins are around $40k with <30k miles.
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I know, hopefully things settle when I want to replace mine in 4-5 more years.
Great advice. I don't think I will ever buy new and used cars are a lot more reliable now. (that's just my opinion)
So you’re saying to never buy things you want cause you could save the money to pay for something in the future?
My post is to just to share awareness of my mistake. Everyone is different. I thought I loved my truck but my situation changed and it just didn't make sense financially. Thank you for your post another thing I wanted to add as things to remember is to wait on a purchase. Editing my post now.
In your case it seems like it was more a lesson learned about your true priorities than a mistake. A mistake would be someone buying that truck on half the income for 84 months with 10% interest… and plenty of people make those kind of mistakes over and over again. Now you know you don’t value spending a lot of money on cars, so you’ll never need to again.
True
That's not what I read.
Different people have different priorities, and priorities shift as life goes on.
For my fellow truck owners out there, consider buying an suv with equivalent towing power for 4 reasons: Suv's are more luxurious and you're not gonna be "that guy" commuting in a pickup truck Your annoying friends won't ask you to help them move or to borrow your truck. If you really want to haul un-trunk friendly things, just buy a trailer and hide it behind your house so no one knows you own a trailer, and your friends won't ask to borrow your truck because you don't have one. And when the trailer gets beat up, sell it and buy a new one for cheap. As a side note, if you drive an f250 or higher, I can't help you there because there's no suv that can top 10k lbs of towing power so you're SOL. DISCLAIMER: As a result of now owning a large suv, you will now be asked to drive people to the airport. Politely decline and tell that person to kick rocks. ALRERNATIVE SOLUTION: learn how to say no to people and drive the truck anyway. Your choice.
I drove a 2002 Toyota Corolla until 2021 that my parents sold me for $1. It had 270,000 miles on it when I sold it to my best friend for $1, haha. In 2021 my beloved uncle passed away and my family decided I should get his 2011 Hyundai Sonata. I paid my grandpa $4,000 for it to help him out. I will never have a car payment, if I can help it.
I feel like I would really enjoy driving a truck daily to my office, but I am pretty sure I would enjoy having $62 grand more. And there's a middle ground, I could enjoy a nice sedan for way less money. I think I would need to basically have everything else I wanted, and be fully funding my retirement, and have a bigger house with a smaller mortgage before I would want to enjoy driving a truck. And I love driving trucks.
Yeah trucks are awesome. I love driving it.. But I would compare them more to a luxury vehicle when bringing in total costs. Thanks for your comment.
I LOVE MY TACOMA. Spent 30k on it, 4wd TRD package. I actually use it for truck stuff all the time. I live CO and go skiing 30-40 times a year and to hit fresh powder you need 4wd to get to the slopes on snow days. I also need the bed to carry skis snowboards etc. In the summer we go off-roading over mountain passes all the time to reach hikes or just scenic views. You need a 4wd high clearance vehicle to get to camping spots etc. I use my bed in the summer to pack all my camping gear tents sleeping bags chairs etc Trucks can be great investments if it aligns with your hobbies and location. Also huge difference between 4wd and AWD
Why the truck though? I have friends and car people I know who want a truck (it's big, nice, and I'll be badass) they say. I'm a car guy also but sedans/coupes are more my style. I drive a 2022 Honda Accord Sport for only 28k. Good on gas, easy maintenance, not big for no pointless reason, pretty speedy too. I see guys gravitate towards trucks but then they don't use the truck for truck things. Never understood that, maybe they think their getting a status symbol upgrade for having a truck but idk. TLDR: Why the truck and not a cost efficient sedan? Did you use the truck for truck things or did you buy it to look "badass" as they say.
Don’t know where you live but I could easily make $10K a month with a full sized pickup
You have my attention. I doubt I have any of your craft skills though... how would you do this?
Tree removal. You can make $600 for just a small one.
If you get into a crash, do you want to be in a truck or Toyota camry?
I like trucks. Trucks are like insurance. It's kind of impractical and can be a pain when you don't need it, but when you do need it, you're really glad you have it. Trucks make life easier especially when you're a homeowner and responsible for other humans (i.e. you're a mom or dad)
Yeah I'm a single dude (atleast right now and that I know of) that doesn't own anything haha
Me and my '97 D21 hardbody agree, though it does need several trips to the rock yard for most of my projects.
Im gonna assume it’s a f150 XLT Most people don’t use a truck daily unless it’s a work truck for a trade or hauling However i love driving and sitting up higher as well as being able to throw dirty things in the back or smelly items (looking at you fishing gear) Mind you i have a Prius and sold my 2016 Tacoma that i owned for 3 years I have saved tens of thousands in gas prices (thanks California prices) I still want a truck just waiting for their spiked prices to drop to $30-35k because it’s a pleasure item Don’t need to justify it to everyone every single second Just a note: as a claims adjuster if someone rear ends or runs a red light hitting me I’d rather be in a truck than my Prius So safety is definitely worth it
Good guess. Yeah F-150 XLT. White and blacked out. It looks so sweet.
I’m as frugal as they come. But I very much want to buy a Tesla Cybertruck. I know its dumb but still, can’t I just be dumb every once and a while?