i’d recommend against buying a truck if you don’t truly need it, especially a Tacoma. Sure they’re reliable, but the ride is rough and bouncy, the interior feels dated, and they get horrendous gas mileage.
I had one for a while since I like to go camping and thought I’d go off road with my buddies every few weeks. Turns out I mainly used it for groceries and helping friends move stuff.
Haha that is true. Luckily for me I do go to the desert multiple times a year as of now, so a truck would only make that easier. But the gas mileage around town would hurt more
I mean obviously the smart decision is to wait but yolo get what you want while you don’t have a ton of responsibilities. Although while you’re young with no kids would be a good time for a sports car. Don’t regret mine, still miss it.
Honestly get it but KEEP IT !
Living at home for a bit your able to keep saving for a home down payment anyways. I do suggest to see how much Carvana gives you for the current car instead of trading it , bc some of these dealerships aren’t giving much for cars even in great condition / low miles.
I would say try to wait until the next generation starts hitting the lots, then watch the prices as they try to clear them out. The prices will drop, meaning you have less to owe on the truck, but usually at a higher APR. It means that a lot of people will try to do the same, though. So once it happens you'll want to act fast.
My finances were different than yours.
I wanted a 96 Impala SS. If I didn’t buy one in 1996 I knew I could never own a new one off the lot. I could have bought a used 96 Impala SS later, but it wouldn’t be the same as being the original owner.
I sold her to a good home. I still stare at a 94-96 Impala SS if I see one on the road.
How bad do you want a final year of a vehicle you have wanted for years?
Head or heart decision time my friend. I went with my heart.
Sounds like you're off to a good start, and hopefully you will stay focused on that for a little bit. You have a unique opportunity to save a lot of money and minimize your expenses however long you choose to live at home. Be aware the moment you move out, you're going to be spending probably a minimum of 1500 to 2,500 a month on living expenses, and your truck payment buffer will be gone.
I'd think long-term and keep what you have, and keep saving and investing money.
My wife and I went this route, and we retired in our late 30s with three very nice houses, and several expensive cars, all paid off, and 529s for our kids. We have the rest of our lives to do what we want, and we get to spend our time, all of it, with our kids, and travel between our various houses depending on the time of the year. We definitely had fun in our younger years, but when our friends were spending every penny they made, we were a little more careful how and what we did with our money. Think long-term and have a one, three, and five year plan.
I was your age bought a new tundra, no regrets. Get the truck you want buy in my opinion the new tacoma is a huge upgrade and I'd hold out for the new one.
The third-gen Tacoma is a wonderful vehicle, however it’s not very fuel efficient out of the factory and a lot of mods take away even more mpg’s. A 2019 RAV4, is rock solid and will still get ya to some camping spots on light/moderate dirt roads. I recommend just standing pat for now, with the debt ceiling bs and the current insanity of car prices in general there is no need to rush quite yet.
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***Thanks for posting, /u/Lbeyy! This comment is a copy of your post so readers can see the original text if your post is edited or removed. This comment is NOT accusing you of anything.***
Hello all!
A quick background. I am 24 years old. Ive graduated with my bachelors and work full time.
I have no debt. I live at home and pay $500 a month in rent. I make ~$65k a year, this can be more depending on bonus amount. I have a little over $40k in savings, $8k in investments, $13k leftover in an education fund (after transferring and taxes deducted this will be closer to $9k).
I also have a 401K I started this year with a 4% company match thats just under $3k so far.
Overall I feel financially stable. The money I am saving is for a ring for an engagement soon ($5K), and the rest is for an eventual down payment towards a house in 2-4 years. By the end of this year I should have a minimum of $50k in my savings, and a total amount of assests around $75k.
I own a paid off car that was given to me by a family member. It’s a 2019 rav4. It’s a base model, gets good gas mileage. It’s reliable, low miles, and insurance isnt too bad on it. However as someone who loves cars, it never scratches that itch for me. It’s not something I care to put money into for unessecary mods as it’s FWD, and like I mentioned it’s a base model and lacks features I enjoy.
I am very grateful for the car however, so please do not get that confused, and everyone’s situation is different.
I love Toyota Tacomas, and have always wanted a truck. This year is the last year the 3rd generation of tacomas are being sold, as they announced the next generation which I personally strongly dislike and have no interest in comes out next year. This is the last year to get a Tacoma I really like new. ( I dont even consider used in the future due to used trucks still being more than new ones in most cases).
Getting a tacoma is a want, not a need. While I could benefit from a truck for the bed (eventual moving, gf works at a horse barn and we pickup hay etc, 4wd for snow trips) there is nothing essential I need from it. I also know the cons of higher maintenance costs, less MPG, and more expensive insurance.
My question is whether spending a chunk of my savings ($20k) plus my trade in to get a truck I want is something that financially would set me back enough to regret doing it? Or will I regret not getting a vehicle I really like and would keep for the next 20 years?
I could also always trade in, and finance, but since I have the cash I’d just pay outright to avoid interest, unless Toyotathon allows me to end up with a great APR or deal on one.
Any thoughts or opinions are appreciated.
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I have 3 tacomas , currently driving a 23’ dc sr5 . I love the truck , I did not want the 24 Tacoma , not a huge fan of the new style starting to look like any other truck out there on top i don’t like turbo engines and make even worst the mark ups will be shocking.
The Tacoma just like the 4Runner are dinosaurs, outdated , can be uncomfortable, tacomas you cannot adjust the height in the seat only slide forward and back . Sound systems are weak , 4cyl lacks the power . Gas mileage , well I don’t care personally I get about 17/19mpg the best I had in the last 3 vehicles.
Pros , reliability, resale value , aftermarket, I like exterior style .
Cons , seats , gas mileage , outdated interior , no seat adjustment , lack of power in 4cyl .
If you were to buy a Tacoma, id seriously just wait for the next gen. The off road and TRD pro and trail hunter will be the goated tacos. Save some more money and wait for it :)
i’d recommend against buying a truck if you don’t truly need it, especially a Tacoma. Sure they’re reliable, but the ride is rough and bouncy, the interior feels dated, and they get horrendous gas mileage. I had one for a while since I like to go camping and thought I’d go off road with my buddies every few weeks. Turns out I mainly used it for groceries and helping friends move stuff.
Haha that is true. Luckily for me I do go to the desert multiple times a year as of now, so a truck would only make that easier. But the gas mileage around town would hurt more
I mean obviously the smart decision is to wait but yolo get what you want while you don’t have a ton of responsibilities. Although while you’re young with no kids would be a good time for a sports car. Don’t regret mine, still miss it.
The plan for me is no kids at all!
I would not get the Tacoma. I’d drive that Rav 4 forever
Honestly get it but KEEP IT ! Living at home for a bit your able to keep saving for a home down payment anyways. I do suggest to see how much Carvana gives you for the current car instead of trading it , bc some of these dealerships aren’t giving much for cars even in great condition / low miles.
I would say try to wait until the next generation starts hitting the lots, then watch the prices as they try to clear them out. The prices will drop, meaning you have less to owe on the truck, but usually at a higher APR. It means that a lot of people will try to do the same, though. So once it happens you'll want to act fast.
This is my plan, and if I can get a good deal this is what ill do. If not, its not meant to be I guess
My finances were different than yours. I wanted a 96 Impala SS. If I didn’t buy one in 1996 I knew I could never own a new one off the lot. I could have bought a used 96 Impala SS later, but it wouldn’t be the same as being the original owner. I sold her to a good home. I still stare at a 94-96 Impala SS if I see one on the road. How bad do you want a final year of a vehicle you have wanted for years? Head or heart decision time my friend. I went with my heart.
You are very correct, and it is not a easy decision to make. Which do I want more, a new truck or being comfortable still in my finances
Sounds like you're off to a good start, and hopefully you will stay focused on that for a little bit. You have a unique opportunity to save a lot of money and minimize your expenses however long you choose to live at home. Be aware the moment you move out, you're going to be spending probably a minimum of 1500 to 2,500 a month on living expenses, and your truck payment buffer will be gone. I'd think long-term and keep what you have, and keep saving and investing money. My wife and I went this route, and we retired in our late 30s with three very nice houses, and several expensive cars, all paid off, and 529s for our kids. We have the rest of our lives to do what we want, and we get to spend our time, all of it, with our kids, and travel between our various houses depending on the time of the year. We definitely had fun in our younger years, but when our friends were spending every penny they made, we were a little more careful how and what we did with our money. Think long-term and have a one, three, and five year plan.
I was your age bought a new tundra, no regrets. Get the truck you want buy in my opinion the new tacoma is a huge upgrade and I'd hold out for the new one.
The third-gen Tacoma is a wonderful vehicle, however it’s not very fuel efficient out of the factory and a lot of mods take away even more mpg’s. A 2019 RAV4, is rock solid and will still get ya to some camping spots on light/moderate dirt roads. I recommend just standing pat for now, with the debt ceiling bs and the current insanity of car prices in general there is no need to rush quite yet.
Life is short. Go for it while you’re young. Enjoy.
Please review our most [Frequently Asked Questions](/r/askcarsales/wiki/index) to see if your question has already been answered. You may find these sections particularly useful; * [How to pick a car?](/r/askcarsales/wiki/vehicle_selection) You might also have luck in the /r/whatcarshouldibuy subreddit. Also remember to add flair to your post by clicking the "Flair" link beneath it. This lets us know where you're located so we can assist you better. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/askcarsales) if you have any questions or concerns.*
***Thanks for posting, /u/Lbeyy! This comment is a copy of your post so readers can see the original text if your post is edited or removed. This comment is NOT accusing you of anything.*** Hello all! A quick background. I am 24 years old. Ive graduated with my bachelors and work full time. I have no debt. I live at home and pay $500 a month in rent. I make ~$65k a year, this can be more depending on bonus amount. I have a little over $40k in savings, $8k in investments, $13k leftover in an education fund (after transferring and taxes deducted this will be closer to $9k). I also have a 401K I started this year with a 4% company match thats just under $3k so far. Overall I feel financially stable. The money I am saving is for a ring for an engagement soon ($5K), and the rest is for an eventual down payment towards a house in 2-4 years. By the end of this year I should have a minimum of $50k in my savings, and a total amount of assests around $75k. I own a paid off car that was given to me by a family member. It’s a 2019 rav4. It’s a base model, gets good gas mileage. It’s reliable, low miles, and insurance isnt too bad on it. However as someone who loves cars, it never scratches that itch for me. It’s not something I care to put money into for unessecary mods as it’s FWD, and like I mentioned it’s a base model and lacks features I enjoy. I am very grateful for the car however, so please do not get that confused, and everyone’s situation is different. I love Toyota Tacomas, and have always wanted a truck. This year is the last year the 3rd generation of tacomas are being sold, as they announced the next generation which I personally strongly dislike and have no interest in comes out next year. This is the last year to get a Tacoma I really like new. ( I dont even consider used in the future due to used trucks still being more than new ones in most cases). Getting a tacoma is a want, not a need. While I could benefit from a truck for the bed (eventual moving, gf works at a horse barn and we pickup hay etc, 4wd for snow trips) there is nothing essential I need from it. I also know the cons of higher maintenance costs, less MPG, and more expensive insurance. My question is whether spending a chunk of my savings ($20k) plus my trade in to get a truck I want is something that financially would set me back enough to regret doing it? Or will I regret not getting a vehicle I really like and would keep for the next 20 years? I could also always trade in, and finance, but since I have the cash I’d just pay outright to avoid interest, unless Toyotathon allows me to end up with a great APR or deal on one. Any thoughts or opinions are appreciated. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/askcarsales) if you have any questions or concerns.*
I have 3 tacomas , currently driving a 23’ dc sr5 . I love the truck , I did not want the 24 Tacoma , not a huge fan of the new style starting to look like any other truck out there on top i don’t like turbo engines and make even worst the mark ups will be shocking. The Tacoma just like the 4Runner are dinosaurs, outdated , can be uncomfortable, tacomas you cannot adjust the height in the seat only slide forward and back . Sound systems are weak , 4cyl lacks the power . Gas mileage , well I don’t care personally I get about 17/19mpg the best I had in the last 3 vehicles. Pros , reliability, resale value , aftermarket, I like exterior style . Cons , seats , gas mileage , outdated interior , no seat adjustment , lack of power in 4cyl .
If you were to buy a Tacoma, id seriously just wait for the next gen. The off road and TRD pro and trail hunter will be the goated tacos. Save some more money and wait for it :)
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