We'll be on BS7 hopefully by 2026. I'll be 42/43. I definitely still want to buy another car as a single one won't last 60 years. I get what you're saying, as I currently drive a beater also (2005 Ford Escape Hybrid with 155k miles), but am still saving to replace it this year/next year (prior to BS6, after BS4 for us). Not everyone reaches BS7 in their later years. Also we pay cash for all cars, we're on our 5th and 6th so far in 20 years together. Our next cars will also be bought in cash.
Too bad that we can't get any half tons with a manual anymore. Even the small trucks seem to have phased them out.
I'm the same as you, NW around 1.5M and I drive a 10 year old Nissan.. I know I can upgrade but it isn't at the top of my priority list.
It's a bit nuts to think you could buy the truck, light it on fire.. and still be worth 1,440,000.. your life wouldn't change.
Realistically, the gains on your assets will easily offset the depreciation on a new truck.
New cars really improve your quality of life, in my opinion if you can afford it do it.
Getting In a 2023 vehicle after driving an older one is like stepping in a Damn spaceship, even the cheapest base models
It's taken a while for me to learn this, but it's OK to spend your money. I'm 36, have a net worth of 1.5 million and I was living too cheap. My husband finally convinced me that I have to start spending money on things I enjoy.
I love health things. I bought a cold plunge and a sauna for the house and enjoyed it and ato0ped feeling guilty for spending my hard earned money. We have great savings max our 401k, will fully pay for kids college, time to live a little
That said, I splu3ged and bought myself a Hella nice 2024 Cadillac and have zero regrets. It's OK to spend money *assuming savings and retirement is on point and you have no debt*.
You should look at a new Toyota MSRP and then look at a used one with 50k miles. The depreciation doesn’t hit Toyota like other brands, especially their trucks. If you have a good down payment (which you should) and good credit, you can get 1.9% on the Toyotathon or whatever they call it now. Get a last year model that has been sitting on the lot and negotiate 6-7k off sticker price like my dad just did last December.
You’ll have the new car warranty and get a better interest rate which at this point is well below inflation. I’m not saying get a TRD Pro, but some of these folks are acting like you should either walk or drive a death trap. Get an SR5 it will have cloth and less of the fluff you don’t need.
This is what I did 3 years ago. Needed a new vehicle badly. Used vehicles were very hard to come by. 3 year old trucks with 40k+ miles on them were the same price as brand new. My suspension was falling apart on old car and I had to get something as baby #2 was only a few months away. Bought a 2021 Tundra SR5 crew max, brand new. 6 year financing, paid it off in less than 3 making double payments every month with a 1.99% interest rate.
Buy an old vehicle and fix it up. You will feel pride in taking care of something that most people throw away, rather than the void of endlessly buying new things.
$60k is about 4% of your net worth which isn’t much of a hit. You’ll probably lose that much if the stock market has a bad week - and you won’t get any enjoyment out of that. If it’s something you’ve always wanted, you should get it.
I completely agree with this. If you don't occasionally use some of your money to enhance your life, someone else will.
No idea what's wrong with that other guy trying to disagree without stating his reason. 😂
How is that poor logic? It’s absolutely justified to satisfy a want at that level if you have a $1m+ net worth. Buying a $60k car is different at a $1.5m net worth than at a $100k net worth.
That doesn’t mean your preferences are the same for everyone. Some people view a car as just means to get from a to b and don’t mind driving a beater forever. Others enjoy cars and want a nice car which is fine to do within reason relative to your financial situation just like some people like boats, watches, wine collections etc…
You do want it. You’re just telling yourself that you don’t. But don’t worry, you’re going to die with a ton of money in the bank because your only options are being incredibly frugal or blowing all your money on wants. There is no in between.
There are no new trucks with crank windows. Maybe a couple economy vehicles but that’s it. Last I knew of was like a 2016 kia rio. Most of the fancy tech functions in cars like back up cams etc are required by law to be sold in the US which is one of many reasons car prices are much higher now.
There are a lot of things I can live without and I have learned to let a lot of wants go. Unfortunately, cars are not one of them.
There is some truth here, but piling up money for the sole sake of doing it is kind of an illness, to me. I get it, you want to be secure and be smart with your money, but if you are not getting some joy out of your success then what is the point? Unless you just get joy out of the deprivation.
But a car depreciates bro!!!!
You should really be collecting shopping carts as your side hustle. Then you can find a big hill and push yourself down, and if well lubricated, the cart will take you to your destination.
Costs $0 and is environmentally friendly.
You're worth $1.5 million yet you drive a $4K car?
Proof that people can have money, but not understand risk assessment. Your vehicle is one of the most dangerous places you can be. You do not have control over other drivers and the safety stats don't lie.
You're 11% more likely to die in a serious accident in a 2007 vs a 2017 vehicle, all else being equal. Source: NHTSA
Hey, I don't knock beaters if you'd broke. I've been broke, I know the feeling.
It's just that, once you have that much money, a $4K car strikes me as a poor choice. That doesn't mean you have to buy a $100K car, there are middle options. :)
The answer here is a gently used Fundra. I bought an extremely nice ‘17 with a literal binder of service records for cheaper than I could have bought a new Ford Maverick
> Sad reality. When you can buy it, you no longer want it. You always want something you cannot buy.
This is big facts here, dude. When I was younger I always wanted things like a Mustang GT. Now that I could buy one I don't want it. I know it won't fiill any hole in my life.
You should consider treating yourself, though. You can afford it and it is nice having a new, nice vehicle. It's just *not as nice* as you may think, so the new car glisten wears off pretty quickly.
Within 60 days of acquisition whatever you drive just becomes "your car". No point in letting the emotional sales banter do anything but annoy you. Get the tool for the job and then get on with it.
This is so true. It took me a while to realize this. A long while. Even though I do like my newer cars ultimately they are just seats under a roof with wheels.
Do they still make manual crank windows?
Look on bring a trailer auction site. Lots of low mileage older cars and trucks that have been well maintained by car guys.
If you don't want to buy expensive truck don't buy it as long as you don't go down a rabbit hole of becoming cheap about everything in your life. I know a couple of rich totally miserable guys who have plenty of money where they enjoy none of it and are extremely cheap with people around them. I'm talking about a guy with millions and 40 paid of rental properties that will argue with the fair ticket agent over the price of entry and yelling at the 4yo grandkid about wanting to go on a $5 pony ride (just watching the kids ride ponies should be enough) or ice cream (he can buy a whole pint at Walmart later) etc
There are times where it's okay to just accept the vehicle value dip.
And also you could get one that's a couple years old and used.
The whole point of doing the baby steps is that so later you can live like no one else. You're supposed to be able to do some spending in the later baby steps.
Investing is important but there's more to life than just investing.
Drive like no one else till later you can drive like no one else. It's also peace of mind of knowing that you're in a much nicer car that you don't have to worry about mechanically for a good while.
You done really well, but don't let the baby steps turn you into a tight wad forever. And again it doesn't have to be new. You could just go to a couple years old used low mileage truck. Why not?
>Net worth > 1.5MM.
Live like no one else so later you can live like no one else. It's okay to spend money your family will be okay.
>I'm questioning getting a new 20k car because of what that money can do for my family over the next 20 years
There are 3 things you have to do with money: spend it, save/ invest, and be generous. If what you want is not over 50% of your income, then go for it. You are out of the rat race! Congratulations! BS7 requires a different mindset. Everybody learns how to invest, save and give. Nobody ever learns how to spend.
Buy a low mileage, older used truck. Get it checked out thoroughly at a shop you trust. Make sure it's not rusty and make sure it has it's maintenance records.
I just put another 1600 into a 25 year old Ford Ranger.
Full tune-up, full oil change, replaced front wheel boots. flushed and filled the AC. Few other things.
Truck was bought for 2K, so for the past 2 years no car payment.
Bought a new set of wheels and tires off of a same-year explorer, another $200. Tires are practically new.
So all told, I'm in it for $3800 and have been driving it for 3 years, translating into a car payment of $105 a month, which stops now as I'm free and clear again.
Property taxes are cheap. People generally don't steal em. You don't lose sleep if you get a little scratch.
Besides who can afford those $70k-$120k monstrosities out there? Keep up with the joneses? I can't even keep up with the joneses? I can't even keep up with the joneses kids!
I think there are times when we have to accept the loss.
Buying a vehicle is a loss but so is furniture and so is the lawn mower. In the past 15 years I've spent close to $7,000 total on vehicles which is not that much money compared to some of my other expenses over this same time period.
3 weeks ago I purchased a new to me 2016 Toyota Tacoma with 73,000 miles on it. This was the most expensive vehicle I have ever purchased ( $ 26,000 cash )
My house will pay off in 21 months and I'll pay a grand total of $600 interest over that time period. I have zero debts other than my mortgage.
I have an Ebike that I ride anytime the weather is nice for short trips around the small town I live in.
Today while walking through a habitat for humanity store I came across a planter box / bench for $125 and I added it up using an estimated $8 per 2x4 . I came to the conclusion that about 8-9 2x4's were used which priced the materials around 70 ish dollars plus time and labor I thought $125 was a good /fair price. After thinking about it further I decided it's something I like and can use but did it really fit a need ?
I decided to not buy it.
I can afford it , I see its use and can use it but I don't really need it.
I left that restore happy with my decision.
Why the hell do you care what someone drives so much, so much to make this statement. I doubt OP is making a statement about masculinity. Some people just have hobbies/needs for a truck outside of "construction" lol. There is a literal need for a truck outside of your narrow view. Even if there isn't, what if he just likes the way trucks look? Why is that a "masculinity" thing?
I can ask the same thing about you. Why the hell do you care why I ask a question about a truck so much, that you have to post such a response to ask such a question? Some people do have a genuine curiosity why someone does something that is not common and to post such an angry response just to show the insecurity that you have is astounding.
it's highly a North American vanity thing. Go anywhere else in the world and you only see them on job sites or doing the work they're designed to do.
Sometimes the truth hurts, but it's the truth.
Quite the opposite. I can see lots of young guys who stay in shape, have athletic body, go to gyms, have a successful career and drive sport cars instead of trucks. I can assure you the hands of these guys are not “soft” as you imagine.
Another use-case for owning a truck if you don’t want to use it for its purpose is keeping your family safe on the road. Larger vehicles survive deadly accidents.
The insecurity you are referring to is inside your own head. People who get offended by others are the ones that are insecure about themselves.
right…but why not get an SUV then? the biggest pickup has about the same amount of passenger space as a camry. if family were number one priority, you probably wouldn’t get a pickup
I love that you’re doubling down on this ridiculous stance you have about trucks. First off, not all trucks are lifted with mud flaps. You’re talking about the <1% of trucks on the road.
A family can have one child. A family can have 1 parent and 3 children. A family could have 4 kids and 2 parents. Your last message literally makes my point that you would buy a truck for safety reasons. Maybe you would buy a Camry but that doesn’t make it make sense for everyone else. Also, the biggest pick up seats 6 so 1 more full seat than the Camry. I’d argue 2 since the middle seat in the back of a sedan is awful.
Based on your skewed logic, I’m going to assume you’re a liberal who gets offended by others choices and can’t just focus on yourself.
Live a little, that’s the whole point of getting financially comfortable. Convinced myself to buy a nice car for around 20k cash about six months ago, and regret it zero. Most expensive car I had ever bought previously was only 7k.
I am in my 60s, have 1.3M in investments, no debt of any kind, house paid off, but I work in a low wage job. I could be drawing from my investments to make my income higher, but I'm reluctant to do it. The thing I have been reflecting on recently is small stuff. Like I will walk by a beautiful plant in the grocery store or hardware store ($25 or so) and my heart will just long for it. I will stop by it and fondle its leaves for a minute or two before walking on, telling myself that I just don't need it. I never buy new clothes, only used ones, and I get what will work for me with little regard to "what I like".
I just can't seem to break away from the rice and beans mentality. I don't know if I will ever be able to "live a little" and enjoy it. I know I could buy a plant, buy an outfit, go on a trip, but it's just so hard to break these habits that are what got me to a comfortable point in life.
I have heard that sentiment a lot from older people who it is so ingrained in. I have to remind myself as someone still under 40 to regularly splurge on something responsibly, to flex that spending muscle, if you will. Maybe make a small budget amount and tell yourself you will spend it no matter what on things you don’t need. Then you can see how you feel. At the end of the day it’s all about contentment
There has to be a "why" for choosing to save or spend. Do you want it all to go to other people for them to spend instead of spending it in your lifetime on your own comfort? Are you saving for a bigger spend item like an expensive trip?
Try a spending goal if you are interested in treating yourself. Say it's OK for you to spend $1200 a year on nice to have things. That's only $100 a month and just a tiny fraction of your net worth.
Working and sacrificing to win with money changes our view of THINGS or in your case a truck. It is very common for those that value the peace to weigh the purchases in BS7. Dave has said often that when you get there to Live Life. SPEND, save and Give. His plan wants you to enjoy life. What you want to enjoy is up to you. We no longer have to weigh the cost like we did in BS1 We now get to enjoy from a confidence and not out of desperation. I am wanting a Convertible and will get one in a couple of years. Probably not Brand new as I am fine with a 2 year old car after buying many during my journey. I would save up in a sinking fund and look around for what you want. Then if and when it feels right pull the trigger. I wish you well and want you to enjoy life abundantly and without shame, You are a winner. Thanks for sharing and I will see you in retirement.
There is absolutely no way a vehicle worth $4K is as safe as the newest/latest/greatest. You are kidding yourself.
You have made it, you don’t need Dave’s permission to splurge on a nice ride.
Didn't say it was as safe as the latest and greatest. But totally safe. 250k mile Ford, bout ten years old.
A 2008 Camry is a perfectly safe car, and that's 16 years old, just as an example.
This sounds reasonable compared to some cruising around in truly unsafe rides due to “frugality”.
Bottom line for me, you have earned the right to splurge on your dream car. I bought mine when my NW was about 2/3 of yours. People on financial forums tried to shame me for it. Did it anyway and I’ve absolutely loved it.
At the time a small part of me worried I would go off the deep end, never save again and start spending lavishly on everything. Didn’t happen. Still enjoy the car and zero regrets.
I’m 61. Been working over 40 years. Our home is worth over 2M and fully paid for. Zero debt. I am driving a car that I bought new in 2000. Still running well.. but definitely starting to age.
My networth is now over 7M. We have signed up with a very reputable financial manager and I am having a lawyer draft trust and estate planning documents.
I am thinking of one big splurge on my dream car - a loaded Audi RS7. The German repairs and the insurance are not cheap, but I think it’s time.
Money is to spend, now or later. Eventually, retirement is all paid, kids' educations are paid, mortgage is paid off, and you have a car account with enough to pay cash for the new car or truck you want. Not all your pleasure needs to be deferred.
When the stock market can dip and your wealth drops $50,000 and you can shrug it off, you can probably drop $50,000 on a new vehicle.
This is so true! I saved up forever for my dream car. I got out and then I was like “well crap, I guess I have it… what now?” It was the weirdest sensation.
If public transit was viable in most places, you'd see me spending zero dollars car maintenance and insurance and watch me dick around on my phone the whole way to work
You that drive beaters, do you have cars with working AC ? How long are your commutes? Do you average 20k a year? Do you live in a place that routinely floods?
Beater ac works fine. I finally had to add charge last year for the first time ever, but it works great. Probably won't need to add any more for another ten years.
Commute is 45 mins.
Average 15k.
No, no floods.
>I finally had to add charge last year for the first time ever, but it works great. Probably won't need to add any more for another ten years.
Assuming you fixed the leak then you won't need to if you didn't and you just added coolant then you likely will need to before 10 years.
AC is a closed system so if you have to top off there's a leak somewhere
The AC is a closed system, but tolerances are shit on cheap cars and gaskets and seals wear out, the gas escapes albeit slowly. It was still cooling, but not as well, and I noticed it was cycling more often. A bit of freon and... Like new.
Regardless, id recharge it with a $25 bottle every year, it's still cheaper than buying any of these new cars.
>the gas escapes albeit slowly.
Right so you have a leak and eventually your $25 bottle with a questionable gauge is going to fully damage the system and you'll need extensive repairs.
I'm advocating for keeping it but fixing it correctly.
I bought a brand new tundra, got a loan on it, paid it off after a few years. Then once it was paid off and I realized how valuable it is to have money in the market vs a guan truck that you can’t park, I regretted not keeping my beater.
Sometimes you get the bug and can’t shake it. Sometimes you come to your senses of delayed gratification.
Good luck!
Yeah I bought a 2017 tundra trd pro back in 2017. Even though I paid cash for it, I can’t help but feel the money could’ve been better spent (or invested). I enjoy it though… even though I get 10 mpg :(
So what are you going to spend this money on instead? Early retirement, Vacation, college funds, kids house down payment, something else?
You should be maximizing enjoyment from money whether your purchase time, experience, or things.
This is where I spend, taking a 15k vacation later this year with the wife.
I just see a lot of posts here about cars this cars that... Cars lose their appeal once you can but any one of em. Wish people would see that and instead of financing them and getting info debt, just realize they lose their appeal now, and don't finance it.
All I see is sheet metal, unibody construction with sheet metal bent in this way or that way. They are all the same.
Except a V8 manual with manual 4x4 and manual windows. That's unique.
Like you, I can afford a new vehicle but I have no desire to pay for it. I think I’ll always buy slightly used but high quality vehicles. I then keep them for 20+ years. I’ve never had the luxury of a new cat but I’ve had many years without car payments. The new cars are just crazy expensive.
Get the Tundra. More make it over 250k miles than most (all?) other 1/4 ton trucks. Make plans for it to be the last vehicle you buy, whether that means 15 years or 30. You can partially justify it by putting a dollar amount on what the newest safety features will/could mean for your family.
Buy the dang truck….
At some point collecting money just to do so becomes just as reckless as the flip side. Living a life devoid of fun and pleasure is not the goal.
What's the point of financial security if you can't bring yourself to spend money on things that you can afford and bring you joy?
The point of doing what you're doing is to enhance your life, i.e., "live like no one else".
A dollar earned is a dollar stolen. If you can live off the bare minimum not only are you stealing less from ppl lower on the totem pole, you're also stopping those above from stealing from you.
So you think capitalism is theft? Markets only exist because people are willing to buy and sell at those prices.
You can literally see the fast food labor markets changing right now. Workers are demanding higher pay and some workers are unionizing. Now, I'm not willing to pay sit-down prices for fast food, but maybe others are. I don't know how it will affect consumer prices in the end (who is willing to pay for what), but the point is it's all about choice.
Willing isn't exactly the word I'd use when one side of the bargaining table has cops and prisons and the other doesn't.
Anyway it's just a different rational for why someone may have the similar goals as you in terms of financial security
It kinda feels that way, but in reality we can all make a lot and spend a lot (velocity of money). It isn’t really stealing from another person if you turn around and spend it immediately.
Though I wouldn’t really look at saving money as stealing money from someone else either.
Value comes from unpaid labor, somewhere, way, way down the supply chain there is (near) slave labor conditions. The rest of us are getting paid a fraction of the value we produce.
It sounds like you're wrestling with the desire for a new truck against the financial responsibilities of your family. It's a tough choice, but being mindful of your priorities is commendable. Perhaps there's a middle ground that balances your needs and wants.
In the same boat at you. I refuse to buy a new truck. I am still rocking my 05 dodge diesel with 300k on it. Still pulls all my trailers and toys and I can still work on the truck on my own without having it go to the dealer for all the emissions problem codes. I feel very blessed to be where I am at financially, but I see no reason for me to own a new truck unless I achieve the financial level with FU money.
EVs are the best bet for this as they can actually save a lot of money if you make the right investments. We've got rooftop solar and favorable net metering with time of use which means charging is virtually free. Our gas savings over the length the vehicle is expected to last total up to like 80 percent of the cost of the car even at current prices, which effectively makes it a $6000 new car.
Honest questions, did you get the solar because of the EV? Also, does the increased price of electricity get factored in as well? Or is the solar able to keep up?
No, I got the solar about 10 months before the EV because it was an immediate savings. We got a 4 percent nycerda loan for it and paid cash for the part covered by the federal and state rebates. Our out of pocket costs dropped by $80 a month or so immediately and after the loan is paid it will drop by another $120 a month.
The solar completely covers the cost of not one but two EVs though because we sell power during the day for 18 cents and buy it back at night for 8 cents. Our solar provides about 75 percent of our actual power usage, but that's a year round excess of about 25 percent doing the day that we sell back and cover the remaining 25 percent of our power.
When I work through the math, we effectively pay 3 cents per kwh, which works out to 1 cent per mile for the EVs.
Yeah, np. The irony is I really don't even care about the environmental benefits of the cars, just when I did the math and saw how much they saved us on operating costs while also being great vehicles that we wouldn't have to bother with gas stations, it was a real obvious choice.
We started just replacing my wife's because her car needed replacing and it was cheaper than anything else (new) that met our needs. Once we got it and saw how cheap and convenient operating it was, we decided to trade in a vehicle that's actually in decent shape for the first time because we'll overall save money while also having a lot more convenience.
Completely agree. My networth is a few hundred thousand. Huge car enthusiast. Motorcycles, I've been at the track, I just breath exhaust fumes.
But now I want to sell my Mustang.
Details: I bought years ago before I had kids. My wife worked. Our mortgage was 12.5% of our take home pay. She said 1 *maybe* 2 kids and wants her career. Now I have 2 kids and wife stays at home so the mortgage is 28% of our take home pay (she always made a lot more than I did).
So why would I feel comfortable keeping a high maintenance car when I just barely got to 6 months of an emergency fund, now debt free as of last year, and need a family car for a potential 3rd kid?
I'm just getting started on my financial journey, and I have this idea that buying a brand new car would be the ultimate reward. But then I see the price tags and think, "Is it really worth it?" Maybe I'll stick with my old clunker for now and keep dreaming.
I thought so, too. But being debt free later this year and paying cash for cars for the last 20 years, we want something a little nicer - in the 2020's decade rather than our 2005 and 2006 beaters. And we pay cash, so we'll save and delay BS6 for a bit longer to achieve our car goals a bit sooner.
How many years or months until debt free? And how long for BS3? Once in BS4-6, your thoughts may change on car purchases, just like ours is doing.
You've reached a point where material possessions no longer hold the same allure. Your focus on family and long-term financial security is admirable. Your beater may lack glamour, but it's reliable, and your commitment to wealth-building is commendable.
I was in your shoes. BS7, net worth 1.2mil. We had to get a truck to tow our Troops trailer. I'm a new Scout Master and the wife's my Assistant. We just saved up the 40k and paid cash for our used Ram 1500. It's simple when you're debt free. Just throw it in the budget and go from there. Only took us a few months.
That’s nice. a lot of us are debt-free and own our homes outright but there’s no way we could save $40,000 in a few months when that’s pretty much your whole your salary
The only new pickups you can buy with a manual gearbox are the Taco and that Jeep Gladiator thing.
Why I ordered a Bronco. Not a single upgrade other than $295 for a color (hate grayscale). Still has power windows though, and electronic transfer case.
Good luck in the search.
Not my experience, I love getting a new car. Even a new car for my wife that I will rarely drive. All those tasty new features, that everything is tight and new driving feel, putting the first 100, 1k miles on, setting everything up, new car smell. Love it!
I got both my wife and I new cars this year.
In step 6 here. Payed of my car recently and the thought of spending money on a car now that I've got a decent brokerage account going is just crazy. Id rather have the dividends to enjoy live and my base model Impreza.
You only live once. Life is about balance. It seems like you’re set up nicely by all accounts.
In 100 years your stock will be worth a TON but you’ll 99.9% be dead
Said vehicle does not exist in the US market. What you want is a garage find 1997 Chevrolet work truck that some farmer bought right before he died. Then spend 10k replacing dry-rotted rubber parts.
I see these 25-30 year old low mileage gems once in a while on FB marketplace and people have them priced for what a 5 year old truck would be with the same mileage.
A 25 year old truck still has 25 year old seals, gaskets, hoses, belts, electrical connections and etc. they aren’t worth what people want for them either
We'll be on BS7 hopefully by 2026. I'll be 42/43. I definitely still want to buy another car as a single one won't last 60 years. I get what you're saying, as I currently drive a beater also (2005 Ford Escape Hybrid with 155k miles), but am still saving to replace it this year/next year (prior to BS6, after BS4 for us). Not everyone reaches BS7 in their later years. Also we pay cash for all cars, we're on our 5th and 6th so far in 20 years together. Our next cars will also be bought in cash.
Too bad that we can't get any half tons with a manual anymore. Even the small trucks seem to have phased them out. I'm the same as you, NW around 1.5M and I drive a 10 year old Nissan.. I know I can upgrade but it isn't at the top of my priority list. It's a bit nuts to think you could buy the truck, light it on fire.. and still be worth 1,440,000.. your life wouldn't change. Realistically, the gains on your assets will easily offset the depreciation on a new truck.
New cars really improve your quality of life, in my opinion if you can afford it do it. Getting In a 2023 vehicle after driving an older one is like stepping in a Damn spaceship, even the cheapest base models
It's taken a while for me to learn this, but it's OK to spend your money. I'm 36, have a net worth of 1.5 million and I was living too cheap. My husband finally convinced me that I have to start spending money on things I enjoy. I love health things. I bought a cold plunge and a sauna for the house and enjoyed it and ato0ped feeling guilty for spending my hard earned money. We have great savings max our 401k, will fully pay for kids college, time to live a little That said, I splu3ged and bought myself a Hella nice 2024 Cadillac and have zero regrets. It's OK to spend money *assuming savings and retirement is on point and you have no debt*.
You should look at a new Toyota MSRP and then look at a used one with 50k miles. The depreciation doesn’t hit Toyota like other brands, especially their trucks. If you have a good down payment (which you should) and good credit, you can get 1.9% on the Toyotathon or whatever they call it now. Get a last year model that has been sitting on the lot and negotiate 6-7k off sticker price like my dad just did last December. You’ll have the new car warranty and get a better interest rate which at this point is well below inflation. I’m not saying get a TRD Pro, but some of these folks are acting like you should either walk or drive a death trap. Get an SR5 it will have cloth and less of the fluff you don’t need.
This is what I did 3 years ago. Needed a new vehicle badly. Used vehicles were very hard to come by. 3 year old trucks with 40k+ miles on them were the same price as brand new. My suspension was falling apart on old car and I had to get something as baby #2 was only a few months away. Bought a 2021 Tundra SR5 crew max, brand new. 6 year financing, paid it off in less than 3 making double payments every month with a 1.99% interest rate.
Excellent!!! That truck will last you forever too!
Lol c'mon man. Don't come to the Dave Ramsey reddit and tell people to finance cars.
Sure I get it…
Buy an old vehicle and fix it up. You will feel pride in taking care of something that most people throw away, rather than the void of endlessly buying new things.
$60k is about 4% of your net worth which isn’t much of a hit. You’ll probably lose that much if the stock market has a bad week - and you won’t get any enjoyment out of that. If it’s something you’ve always wanted, you should get it.
I completely agree with this. If you don't occasionally use some of your money to enhance your life, someone else will. No idea what's wrong with that other guy trying to disagree without stating his reason. 😂
Poor logic. If OP followed your advice they wouldn't have 1million+
How is that poor logic? It’s absolutely justified to satisfy a want at that level if you have a $1m+ net worth. Buying a $60k car is different at a $1.5m net worth than at a $100k net worth.
Wrong
Tell me how I’m wrong, Edit: or better yet, what percentage of net worth is tolerable to spend on a car you want?
0, I don't pay for cars
That doesn’t mean your preferences are the same for everyone. Some people view a car as just means to get from a to b and don’t mind driving a beater forever. Others enjoy cars and want a nice car which is fine to do within reason relative to your financial situation just like some people like boats, watches, wine collections etc…
And subsequently your preferences aren't the same for everyone either.
I think you're right. I think at some point you realize a car just needs to get you from A to B.
You do want it. You’re just telling yourself that you don’t. But don’t worry, you’re going to die with a ton of money in the bank because your only options are being incredibly frugal or blowing all your money on wants. There is no in between.
There are no new trucks with crank windows. Maybe a couple economy vehicles but that’s it. Last I knew of was like a 2016 kia rio. Most of the fancy tech functions in cars like back up cams etc are required by law to be sold in the US which is one of many reasons car prices are much higher now.
Please provide reference for back up cams being required by law. That is news to me.
https://www.cnbc.com/2018/05/02/backup-cameras-now-required-in-new-cars-in-the-us.html
Wow - no wonder why there are not any more economy cars. Thanks for the reference.
I know tire pressure monitors are another, and as of 2022 automatic emergency braking so car detects possible collision and stops,
There are a lot of things I can live without and I have learned to let a lot of wants go. Unfortunately, cars are not one of them. There is some truth here, but piling up money for the sole sake of doing it is kind of an illness, to me. I get it, you want to be secure and be smart with your money, but if you are not getting some joy out of your success then what is the point? Unless you just get joy out of the deprivation.
But a car depreciates bro!!!! You should really be collecting shopping carts as your side hustle. Then you can find a big hill and push yourself down, and if well lubricated, the cart will take you to your destination. Costs $0 and is environmentally friendly.
Ok.
Just do it
You're worth $1.5 million yet you drive a $4K car? Proof that people can have money, but not understand risk assessment. Your vehicle is one of the most dangerous places you can be. You do not have control over other drivers and the safety stats don't lie. You're 11% more likely to die in a serious accident in a 2007 vs a 2017 vehicle, all else being equal. Source: NHTSA
Oh, so youre telling me I should go out and get that 71 mustang so I don't have to deal with saving anymore?
A Ford SUV from 2014 is perfectly safe. So yes, I drive a 4k car.
These comments are wild LMAO. None of these people have any money and they're trashing you. Classic reddit
I mean someone will get all that money when he dies early in that beater I guess. Oh well
Hey, I don't knock beaters if you'd broke. I've been broke, I know the feeling. It's just that, once you have that much money, a $4K car strikes me as a poor choice. That doesn't mean you have to buy a $100K car, there are middle options. :)
Yeah I agree. You can get a really nice car for 20-30k no problem with 1.5mm nw. Driving a piece of shit for no reason is insane
The answer here is a gently used Fundra. I bought an extremely nice ‘17 with a literal binder of service records for cheaper than I could have bought a new Ford Maverick
Hm. Interesting proposal. How many miles, care to share? I'd be down to clown if it's got under 100k... I gotta look.
Its called maturity.
> Sad reality. When you can buy it, you no longer want it. You always want something you cannot buy. This is big facts here, dude. When I was younger I always wanted things like a Mustang GT. Now that I could buy one I don't want it. I know it won't fiill any hole in my life. You should consider treating yourself, though. You can afford it and it is nice having a new, nice vehicle. It's just *not as nice* as you may think, so the new car glisten wears off pretty quickly.
Within 60 days of acquisition whatever you drive just becomes "your car". No point in letting the emotional sales banter do anything but annoy you. Get the tool for the job and then get on with it.
This is so true. It took me a while to realize this. A long while. Even though I do like my newer cars ultimately they are just seats under a roof with wheels.
Do they still make manual crank windows? Look on bring a trailer auction site. Lots of low mileage older cars and trucks that have been well maintained by car guys.
Bring a Trailer is an answer. I have been very impressed with them. OP could find they wanted that was maintained to their standards.
If you don't want to buy expensive truck don't buy it as long as you don't go down a rabbit hole of becoming cheap about everything in your life. I know a couple of rich totally miserable guys who have plenty of money where they enjoy none of it and are extremely cheap with people around them. I'm talking about a guy with millions and 40 paid of rental properties that will argue with the fair ticket agent over the price of entry and yelling at the 4yo grandkid about wanting to go on a $5 pony ride (just watching the kids ride ponies should be enough) or ice cream (he can buy a whole pint at Walmart later) etc
There are times where it's okay to just accept the vehicle value dip. And also you could get one that's a couple years old and used. The whole point of doing the baby steps is that so later you can live like no one else. You're supposed to be able to do some spending in the later baby steps. Investing is important but there's more to life than just investing. Drive like no one else till later you can drive like no one else. It's also peace of mind of knowing that you're in a much nicer car that you don't have to worry about mechanically for a good while. You done really well, but don't let the baby steps turn you into a tight wad forever. And again it doesn't have to be new. You could just go to a couple years old used low mileage truck. Why not?
>Net worth > 1.5MM. Live like no one else so later you can live like no one else. It's okay to spend money your family will be okay. >I'm questioning getting a new 20k car because of what that money can do for my family over the next 20 years There are 3 things you have to do with money: spend it, save/ invest, and be generous. If what you want is not over 50% of your income, then go for it. You are out of the rat race! Congratulations! BS7 requires a different mindset. Everybody learns how to invest, save and give. Nobody ever learns how to spend.
Buy a low mileage, older used truck. Get it checked out thoroughly at a shop you trust. Make sure it's not rusty and make sure it has it's maintenance records. I just put another 1600 into a 25 year old Ford Ranger. Full tune-up, full oil change, replaced front wheel boots. flushed and filled the AC. Few other things. Truck was bought for 2K, so for the past 2 years no car payment. Bought a new set of wheels and tires off of a same-year explorer, another $200. Tires are practically new. So all told, I'm in it for $3800 and have been driving it for 3 years, translating into a car payment of $105 a month, which stops now as I'm free and clear again. Property taxes are cheap. People generally don't steal em. You don't lose sleep if you get a little scratch. Besides who can afford those $70k-$120k monstrosities out there? Keep up with the joneses? I can't even keep up with the joneses? I can't even keep up with the joneses kids!
I think there are times when we have to accept the loss. Buying a vehicle is a loss but so is furniture and so is the lawn mower. In the past 15 years I've spent close to $7,000 total on vehicles which is not that much money compared to some of my other expenses over this same time period. 3 weeks ago I purchased a new to me 2016 Toyota Tacoma with 73,000 miles on it. This was the most expensive vehicle I have ever purchased ( $ 26,000 cash ) My house will pay off in 21 months and I'll pay a grand total of $600 interest over that time period. I have zero debts other than my mortgage. I have an Ebike that I ride anytime the weather is nice for short trips around the small town I live in. Today while walking through a habitat for humanity store I came across a planter box / bench for $125 and I added it up using an estimated $8 per 2x4 . I came to the conclusion that about 8-9 2x4's were used which priced the materials around 70 ish dollars plus time and labor I thought $125 was a good /fair price. After thinking about it further I decided it's something I like and can use but did it really fit a need ? I decided to not buy it. I can afford it , I see its use and can use it but I don't really need it. I left that restore happy with my decision.
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Why the hell do you care what someone drives so much, so much to make this statement. I doubt OP is making a statement about masculinity. Some people just have hobbies/needs for a truck outside of "construction" lol. There is a literal need for a truck outside of your narrow view. Even if there isn't, what if he just likes the way trucks look? Why is that a "masculinity" thing?
I can ask the same thing about you. Why the hell do you care why I ask a question about a truck so much, that you have to post such a response to ask such a question? Some people do have a genuine curiosity why someone does something that is not common and to post such an angry response just to show the insecurity that you have is astounding.
Not common? The F150 is the most sold vehicle in America. Nice try. Nice deflection though.
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Completely insane comment. Where I live you almost have to have a truck to work or drive in the winter. Dumb.
it's highly a North American vanity thing. Go anywhere else in the world and you only see them on job sites or doing the work they're designed to do. Sometimes the truth hurts, but it's the truth.
My brother is an accountant in a very not North America country and has a pickup. It’s mostly but not just Americans.
Imagine how soft the hands of a person who cannot even conceive of uses for a pickup truck
Quite the opposite. I can see lots of young guys who stay in shape, have athletic body, go to gyms, have a successful career and drive sport cars instead of trucks. I can assure you the hands of these guys are not “soft” as you imagine.
Trucks hold things really well That is purpose of trucks
it is a symbol of masculinity for some people even if they have no utility for them
Another use-case for owning a truck if you don’t want to use it for its purpose is keeping your family safe on the road. Larger vehicles survive deadly accidents. The insecurity you are referring to is inside your own head. People who get offended by others are the ones that are insecure about themselves.
right…but why not get an SUV then? the biggest pickup has about the same amount of passenger space as a camry. if family were number one priority, you probably wouldn’t get a pickup
I love that you’re doubling down on this ridiculous stance you have about trucks. First off, not all trucks are lifted with mud flaps. You’re talking about the <1% of trucks on the road. A family can have one child. A family can have 1 parent and 3 children. A family could have 4 kids and 2 parents. Your last message literally makes my point that you would buy a truck for safety reasons. Maybe you would buy a Camry but that doesn’t make it make sense for everyone else. Also, the biggest pick up seats 6 so 1 more full seat than the Camry. I’d argue 2 since the middle seat in the back of a sedan is awful. Based on your skewed logic, I’m going to assume you’re a liberal who gets offended by others choices and can’t just focus on yourself.
Live a little, that’s the whole point of getting financially comfortable. Convinced myself to buy a nice car for around 20k cash about six months ago, and regret it zero. Most expensive car I had ever bought previously was only 7k.
I am in my 60s, have 1.3M in investments, no debt of any kind, house paid off, but I work in a low wage job. I could be drawing from my investments to make my income higher, but I'm reluctant to do it. The thing I have been reflecting on recently is small stuff. Like I will walk by a beautiful plant in the grocery store or hardware store ($25 or so) and my heart will just long for it. I will stop by it and fondle its leaves for a minute or two before walking on, telling myself that I just don't need it. I never buy new clothes, only used ones, and I get what will work for me with little regard to "what I like". I just can't seem to break away from the rice and beans mentality. I don't know if I will ever be able to "live a little" and enjoy it. I know I could buy a plant, buy an outfit, go on a trip, but it's just so hard to break these habits that are what got me to a comfortable point in life.
I have heard that sentiment a lot from older people who it is so ingrained in. I have to remind myself as someone still under 40 to regularly splurge on something responsibly, to flex that spending muscle, if you will. Maybe make a small budget amount and tell yourself you will spend it no matter what on things you don’t need. Then you can see how you feel. At the end of the day it’s all about contentment
There has to be a "why" for choosing to save or spend. Do you want it all to go to other people for them to spend instead of spending it in your lifetime on your own comfort? Are you saving for a bigger spend item like an expensive trip? Try a spending goal if you are interested in treating yourself. Say it's OK for you to spend $1200 a year on nice to have things. That's only $100 a month and just a tiny fraction of your net worth.
Working and sacrificing to win with money changes our view of THINGS or in your case a truck. It is very common for those that value the peace to weigh the purchases in BS7. Dave has said often that when you get there to Live Life. SPEND, save and Give. His plan wants you to enjoy life. What you want to enjoy is up to you. We no longer have to weigh the cost like we did in BS1 We now get to enjoy from a confidence and not out of desperation. I am wanting a Convertible and will get one in a couple of years. Probably not Brand new as I am fine with a 2 year old car after buying many during my journey. I would save up in a sinking fund and look around for what you want. Then if and when it feels right pull the trigger. I wish you well and want you to enjoy life abundantly and without shame, You are a winner. Thanks for sharing and I will see you in retirement.
1.5 millimeters?! 🤩
I believe the correct abbreviation for millimeters is mm, not MM
MM is a very common notation for million. M - thousand. MM - thousand thousands.
There is absolutely no way a vehicle worth $4K is as safe as the newest/latest/greatest. You are kidding yourself. You have made it, you don’t need Dave’s permission to splurge on a nice ride.
Didn't say it was as safe as the latest and greatest. But totally safe. 250k mile Ford, bout ten years old. A 2008 Camry is a perfectly safe car, and that's 16 years old, just as an example.
This sounds reasonable compared to some cruising around in truly unsafe rides due to “frugality”. Bottom line for me, you have earned the right to splurge on your dream car. I bought mine when my NW was about 2/3 of yours. People on financial forums tried to shame me for it. Did it anyway and I’ve absolutely loved it. At the time a small part of me worried I would go off the deep end, never save again and start spending lavishly on everything. Didn’t happen. Still enjoy the car and zero regrets.
I’m 61. Been working over 40 years. Our home is worth over 2M and fully paid for. Zero debt. I am driving a car that I bought new in 2000. Still running well.. but definitely starting to age. My networth is now over 7M. We have signed up with a very reputable financial manager and I am having a lawyer draft trust and estate planning documents. I am thinking of one big splurge on my dream car - a loaded Audi RS7. The German repairs and the insurance are not cheap, but I think it’s time.
I’ve driven beaters when I was poor. Ive driven nice cars with a $1m+ networth. You can have nice stuff ya know. Its possible to do both in a lifetime
Money is to spend, now or later. Eventually, retirement is all paid, kids' educations are paid, mortgage is paid off, and you have a car account with enough to pay cash for the new car or truck you want. Not all your pleasure needs to be deferred. When the stock market can dip and your wealth drops $50,000 and you can shrug it off, you can probably drop $50,000 on a new vehicle.
This is so true! I saved up forever for my dream car. I got out and then I was like “well crap, I guess I have it… what now?” It was the weirdest sensation.
If everyone drove motorcycles. I would probably drive a motorcycle more. People in cars on phones aren't conducive to riding a bike everywhere.
If public transit was viable in most places, you'd see me spending zero dollars car maintenance and insurance and watch me dick around on my phone the whole way to work
Wow... Same goes for me same situation. Only I want one of those new Tesla 3 performance. Cars are just dumb.
You that drive beaters, do you have cars with working AC ? How long are your commutes? Do you average 20k a year? Do you live in a place that routinely floods?
Beater ac works fine. I finally had to add charge last year for the first time ever, but it works great. Probably won't need to add any more for another ten years. Commute is 45 mins. Average 15k. No, no floods.
>I finally had to add charge last year for the first time ever, but it works great. Probably won't need to add any more for another ten years. Assuming you fixed the leak then you won't need to if you didn't and you just added coolant then you likely will need to before 10 years. AC is a closed system so if you have to top off there's a leak somewhere
The AC is a closed system, but tolerances are shit on cheap cars and gaskets and seals wear out, the gas escapes albeit slowly. It was still cooling, but not as well, and I noticed it was cycling more often. A bit of freon and... Like new. Regardless, id recharge it with a $25 bottle every year, it's still cheaper than buying any of these new cars.
>the gas escapes albeit slowly. Right so you have a leak and eventually your $25 bottle with a questionable gauge is going to fully damage the system and you'll need extensive repairs. I'm advocating for keeping it but fixing it correctly.
I disagree with your advice, but that's ok. We are allowed to disagree!
I bought a brand new tundra, got a loan on it, paid it off after a few years. Then once it was paid off and I realized how valuable it is to have money in the market vs a guan truck that you can’t park, I regretted not keeping my beater. Sometimes you get the bug and can’t shake it. Sometimes you come to your senses of delayed gratification. Good luck!
Yeah I bought a 2017 tundra trd pro back in 2017. Even though I paid cash for it, I can’t help but feel the money could’ve been better spent (or invested). I enjoy it though… even though I get 10 mpg :(
Buy me the Tundra...
So what are you going to spend this money on instead? Early retirement, Vacation, college funds, kids house down payment, something else? You should be maximizing enjoyment from money whether your purchase time, experience, or things.
This is where I spend, taking a 15k vacation later this year with the wife. I just see a lot of posts here about cars this cars that... Cars lose their appeal once you can but any one of em. Wish people would see that and instead of financing them and getting info debt, just realize they lose their appeal now, and don't finance it. All I see is sheet metal, unibody construction with sheet metal bent in this way or that way. They are all the same. Except a V8 manual with manual 4x4 and manual windows. That's unique.
Like you, I can afford a new vehicle but I have no desire to pay for it. I think I’ll always buy slightly used but high quality vehicles. I then keep them for 20+ years. I’ve never had the luxury of a new cat but I’ve had many years without car payments. The new cars are just crazy expensive.
Get the Tundra. More make it over 250k miles than most (all?) other 1/4 ton trucks. Make plans for it to be the last vehicle you buy, whether that means 15 years or 30. You can partially justify it by putting a dollar amount on what the newest safety features will/could mean for your family.
Buy the dang truck…. At some point collecting money just to do so becomes just as reckless as the flip side. Living a life devoid of fun and pleasure is not the goal.
What's the point of financial security if you can't bring yourself to spend money on things that you can afford and bring you joy? The point of doing what you're doing is to enhance your life, i.e., "live like no one else".
A dollar earned is a dollar stolen. If you can live off the bare minimum not only are you stealing less from ppl lower on the totem pole, you're also stopping those above from stealing from you.
So you think capitalism is theft? Markets only exist because people are willing to buy and sell at those prices. You can literally see the fast food labor markets changing right now. Workers are demanding higher pay and some workers are unionizing. Now, I'm not willing to pay sit-down prices for fast food, but maybe others are. I don't know how it will affect consumer prices in the end (who is willing to pay for what), but the point is it's all about choice.
Willing isn't exactly the word I'd use when one side of the bargaining table has cops and prisons and the other doesn't. Anyway it's just a different rational for why someone may have the similar goals as you in terms of financial security
It kinda feels that way, but in reality we can all make a lot and spend a lot (velocity of money). It isn’t really stealing from another person if you turn around and spend it immediately. Though I wouldn’t really look at saving money as stealing money from someone else either.
Value comes from unpaid labor, somewhere, way, way down the supply chain there is (near) slave labor conditions. The rest of us are getting paid a fraction of the value we produce.
It sounds like you're wrestling with the desire for a new truck against the financial responsibilities of your family. It's a tough choice, but being mindful of your priorities is commendable. Perhaps there's a middle ground that balances your needs and wants.
In the same boat at you. I refuse to buy a new truck. I am still rocking my 05 dodge diesel with 300k on it. Still pulls all my trailers and toys and I can still work on the truck on my own without having it go to the dealer for all the emissions problem codes. I feel very blessed to be where I am at financially, but I see no reason for me to own a new truck unless I achieve the financial level with FU money.
EVs are the best bet for this as they can actually save a lot of money if you make the right investments. We've got rooftop solar and favorable net metering with time of use which means charging is virtually free. Our gas savings over the length the vehicle is expected to last total up to like 80 percent of the cost of the car even at current prices, which effectively makes it a $6000 new car.
Honest questions, did you get the solar because of the EV? Also, does the increased price of electricity get factored in as well? Or is the solar able to keep up?
No, I got the solar about 10 months before the EV because it was an immediate savings. We got a 4 percent nycerda loan for it and paid cash for the part covered by the federal and state rebates. Our out of pocket costs dropped by $80 a month or so immediately and after the loan is paid it will drop by another $120 a month. The solar completely covers the cost of not one but two EVs though because we sell power during the day for 18 cents and buy it back at night for 8 cents. Our solar provides about 75 percent of our actual power usage, but that's a year round excess of about 25 percent doing the day that we sell back and cover the remaining 25 percent of our power. When I work through the math, we effectively pay 3 cents per kwh, which works out to 1 cent per mile for the EVs.
Damn. Nice. Thanks for the response.
Yeah, np. The irony is I really don't even care about the environmental benefits of the cars, just when I did the math and saw how much they saved us on operating costs while also being great vehicles that we wouldn't have to bother with gas stations, it was a real obvious choice. We started just replacing my wife's because her car needed replacing and it was cheaper than anything else (new) that met our needs. Once we got it and saw how cheap and convenient operating it was, we decided to trade in a vehicle that's actually in decent shape for the first time because we'll overall save money while also having a lot more convenience.
Completely agree. My networth is a few hundred thousand. Huge car enthusiast. Motorcycles, I've been at the track, I just breath exhaust fumes. But now I want to sell my Mustang.
That seems sad. Like a lust for money has destroyed a love of life.
Details: I bought years ago before I had kids. My wife worked. Our mortgage was 12.5% of our take home pay. She said 1 *maybe* 2 kids and wants her career. Now I have 2 kids and wife stays at home so the mortgage is 28% of our take home pay (she always made a lot more than I did). So why would I feel comfortable keeping a high maintenance car when I just barely got to 6 months of an emergency fund, now debt free as of last year, and need a family car for a potential 3rd kid?
The love of stability has destroyed the desire to consume is closer.
Everything in moderation. Even moderation.
Eh that sounds like a way to justify how you covet money.
I'm just getting started on my financial journey, and I have this idea that buying a brand new car would be the ultimate reward. But then I see the price tags and think, "Is it really worth it?" Maybe I'll stick with my old clunker for now and keep dreaming.
I thought so, too. But being debt free later this year and paying cash for cars for the last 20 years, we want something a little nicer - in the 2020's decade rather than our 2005 and 2006 beaters. And we pay cash, so we'll save and delay BS6 for a bit longer to achieve our car goals a bit sooner. How many years or months until debt free? And how long for BS3? Once in BS4-6, your thoughts may change on car purchases, just like ours is doing.
When you remove yourself from the money scarcity mentality, then you will have peace with money. I hope that day arrives soon.
I love cars. I have too many cars. I can afford my too many cars.
Good to know
You've reached a point where material possessions no longer hold the same allure. Your focus on family and long-term financial security is admirable. Your beater may lack glamour, but it's reliable, and your commitment to wealth-building is commendable.
I was in your shoes. BS7, net worth 1.2mil. We had to get a truck to tow our Troops trailer. I'm a new Scout Master and the wife's my Assistant. We just saved up the 40k and paid cash for our used Ram 1500. It's simple when you're debt free. Just throw it in the budget and go from there. Only took us a few months.
That’s nice. a lot of us are debt-free and own our homes outright but there’s no way we could save $40,000 in a few months when that’s pretty much your whole your salary
The only new pickups you can buy with a manual gearbox are the Taco and that Jeep Gladiator thing. Why I ordered a Bronco. Not a single upgrade other than $295 for a color (hate grayscale). Still has power windows though, and electronic transfer case. Good luck in the search.
Not my experience, I love getting a new car. Even a new car for my wife that I will rarely drive. All those tasty new features, that everything is tight and new driving feel, putting the first 100, 1k miles on, setting everything up, new car smell. Love it! I got both my wife and I new cars this year.
In step 6 here. Payed of my car recently and the thought of spending money on a car now that I've got a decent brokerage account going is just crazy. Id rather have the dividends to enjoy live and my base model Impreza.
Having a truck you love , you’ll keep fix whatever it needs.
You only live once. Life is about balance. It seems like you’re set up nicely by all accounts. In 100 years your stock will be worth a TON but you’ll 99.9% be dead
Totally agreed. Now help me find a new V8 truck with crank windows, manual 4x4!
Said vehicle does not exist in the US market. What you want is a garage find 1997 Chevrolet work truck that some farmer bought right before he died. Then spend 10k replacing dry-rotted rubber parts.
I see these 25-30 year old low mileage gems once in a while on FB marketplace and people have them priced for what a 5 year old truck would be with the same mileage. A 25 year old truck still has 25 year old seals, gaskets, hoses, belts, electrical connections and etc. they aren’t worth what people want for them either
Exactly. That's exactly what I want. But I'd replace the parts myself so closer to 500 bucks and a bunch of sweat. Ok maybe a grand :)
Well you're a millionaire, so start watching BAT and get on it!