Ughhhh, to buy or not to buy...that is the question

[steveoz]

Been driving my Tacoma for 13 yrs, and while it has reasonably low miles it does have a bit of age....and I am now having to drive mom around a bit...so make payments on a 0% interest deal on a new Highlander?....keep driving the Tacoma...:eek:

[chunkylover53]

Sounds like the Tacoma is just getting broken in....I’d drive it into the ground. Though if it is in decent shape, you’ll get a good price for it.

[AngryScientist]

depending on the condition, drivetrain and miles on the taco, you're sitting on a good chunk of cash there, the resale value of that truck is very high, especially if you sell it yourself. i've been casually looking at used tacos for years, and cant get over what they sell for used with piles of miles on them.

the highlander is a pretty dramatically different vehicle in almost every single way than the taco, aside from wearing the same badge. certainly a more refined driver and passenger comfort and handling experience, at the expense of rugged real-truck manners. if you never take the taco off pavement, dont tow or haul anything big, it's almost certainly the wrong vehicle to be driving for a variety of reasons.

highlander will be safer, get better fuel economy, more comfortable to drive on the road and be better overall in almost all but extreme offroad conditions.

is any of that worth swapping to you?

how is the body and frame - rust wise?

[fmradio516]

Ill buy the taco from ya. :)

[bjf]

Highlander. Mine is 11 years old, has more than 110K miles, and still is a joy to drive. Big bonus -- a complete bike fits in back (with the rear seats down) without taking off the front wheel.

[Burnette]

Been driving my Tacoma for 13 yrs, and while it has reasonably low miles it does have a bit of age....and I am now having to drive mom around a bit...so make payments on a 0% interest deal on a new Highlander?....keep driving the Tacoma...:eek:

A new Highlander starts at $31,000 and goes to $46,000. Makes that paid for Tacoma sound pretty good don't it?

It could be an expensive outlay for a temporary or short term situation.

Let your mom drive the Tacoma once in a while:)

[pobrien]

I tend to think of safety when I have other people in my car as my Matrix is 14years old and does not have much in terms of modern safety technology.

I am thinking about donating my car to a charity I support and buying a new Toyota 4Runner.

I would feel terrible if someone in my car were to get hurt in an accident while I was driving. I have two airbags in the whole car.

Perhaps the safety aspect can help you decide?

[Ken Robb]

there is an excellent article in the current Motor Trend (Or car and Driver?) on the tremendous advances in occupant safety in new cars that are involved in crashes versus oder cars. It's a real eye-opener with stories/pix to add credibility.

[Hindmost]

....and I am now having to drive mom around a bit...

Does Mom need anything in particular? I know in my case, easy in and out of the vehicle was important.

[jtakeda]

Been driving my Tacoma for 13 yrs, and while it has reasonably low miles it does have a bit of age....and I am now having to drive mom around a bit...so make payments on a 0% interest deal on a new Highlander?....keep driving the Tacoma...:eek:

2006 taco? So 2nd year of gen 2....

Access cab or standard? Mileage? Any rust?

Whatever you do DO NOT trade in.
And if you reallly want the ease of selling to the dealer park the taco off the lot negotiate your Highlander and THEN tell them you want to deal the taco

[cmbicycles]

Warren Buffet drives a 20+/- year old Volvo right? What impact does the tacoma have on driving your mom around, or what are your concerns that the highlander would alleviate... safety, accessibility, etc?

I drive an old Outback that gets me where I need to go, it's ugly, not terribly comfortable to my family for long trips, but utility wise it's quite functional... style wise its a clunker. My better half has a slightly newer Highlander and it's fine. I don't like driving it as I find its seats uncomfortable on longer trips, but that's the complaint about my car from others so mine is the commuter and hers is the vacation/trip hauler. I'll trade you my Outback for your Tacoma. ;)

[steveoz]

Well my intentions were to keep it and run it into the ground, but mom's health has deteriorated and I am "driving Miss Daisey" as it were, she has a tough time getting in the truck. It is also a pain carrying more than one passenger as the access cab has minimal room. The Highlander is a pricey vehicle buuut at 0% financing and the discounts offered it's a vehicle I'd keep for a while just like I did the Tacoma

[steveoz]

2006 taco? So 2nd year of gen 2....

Access cab or standard? Mileage? Any rust?

Whatever you do DO NOT trade in.
And if you reallly want the ease of selling to the dealer park the taco off the lot negotiate your Highlander and THEN tell them you want to deal the taco

Access cab, good mechanically (I'm picky about that) but the paint is bad - the sun has baked it and stray cats in the neighborhood that sleep on the hood have scratched the crap out of it, no rust I can see.

[quickfeet]

Borrowing money to buy cars is hard to stomach imho. The average car payment is $500 in the us, if you invested that same amount of money per month for 30 years is somewhere in the ballpark of 5mil. This assumes the person is always upgrading and keeping a payment, and the market performs the way it has.

Saving to buy a car outright is OK in my book, but my Subaru is at 180k and I am planning on driving it into the ground.

Lastly, Tacoma’s are awesome.

[steveoz]

Highlander. Mine is 11 years old, has more than 110K miles, and still is a joy to drive. Big bonus -- a complete bike fits in back (with the rear seats down) without taking off the front wheel.

That's why I like the Highlander vs a smaller suv - gotta fit a bike in it!:banana:

[Jere]

Been driving my Tacoma for 13 yrs, and while it has reasonably low miles it does have a bit of age....and I am now having to drive mom around a bit...so make payments on a 0% interest deal on a new Highlander?....keep driving the Tacoma...:eek:

Hi

They are revamping the Highlander Hybrid next year making like this years RAV 4
I was gonna wait but the 2019/RAV4 Hybrid is getting over 40 mpg in mixed driving. I really didn’t need extra space
JB

[tomato coupe]

Borrowing money to buy cars is hard to stomach imho. The average car payment is $500 in the us, if you invested that same amount of money per month for 30 years is somewhere in the ballpark of 5mil. This assumes the person is always upgrading and keeping a payment, and the market performs the way it has.

No, not even close. You'd need an investment that averages about 18% growth per year for 30 years to reach $5M. It's possible, but highly unlikely.

[saab2000]

This is very simple: Car Payments Suck. Period.

You're paying on a (very) rapidly depreciating piece of machinery long after it has diminished in value to the point you are underwater. As much as I like cars, the finances of auto financing is basically a scam.

Save up, pay cash.

I bought a car a year ago and while I can make the payments with ease, I'll never do it again like I did. I'm paying it down as fast as possible and wouldn't do what I did again.

[jtakeda]

Access cab, good mechanically (I'm picky about that) but the paint is bad - the sun has baked it and stray cats in the neighborhood that sleep on the hood have scratched the crap out of it, no rust I can see.

If the paint is and frame is fine is just pay to get a quick respray
Depending on mileage you could sell the taco and buy a Highlander outright.

But IMO borrowing to buy is bad. Full coverage insurance is pricey.

[quickfeet]

No, not even close. You'd need an investment that averages about 18% growth per year for 30 years to reach $5M. It's possible, but highly unlikely.

You are correct, my math is 12% for 40 years

[19wisconsin64]

The 2020 Highlander is a new model. If you keep your vehicles for a long time, it makes sense to buy a new one. The new models are safer, and get better gas mileage, and will cost less to run.

Your current Toyota is worth a fair amount used right now too.

Don't get the 2019.....the 2020 is here.

But if money is tight, keep what you have. It couldn't hurt to see how much you could get for your car for sale privately (car gurus, cars.com, autotrader) , and then maybe check out a buying service to see how cheaply you can get a 2020 for.

The 2020 is pretty stunning.

[oldpotatoe]

Been driving my Tacoma for 13 yrs, and while it has reasonably low miles it does have a bit of age....and I am now having to drive mom around a bit...so make payments on a 0% interest deal on a new Highlander?....keep driving the Tacoma...:eek:

Where are ya? Wanna sell it?

[Clancy]

I went from a MB to a Volvo and now to a Subaru Outback and I am surprised at how much I like this car. The safety features are a big advancement over my previous cars and are such that I cannot imagine driving a car without them. The Subaru is very utilitarian but given the price, it’s a lot of car for the money.

And with the back seats down, I can put my bike in without removing the front wheel.

Just sayin’

[Surfdog98]

263K miles on my (previous) 2010 Tundra, mainly due to mountain bike adventures, never any major issues, and still drove very well, but "upgraded" to 2019 Tundra....new is very nice, but if $$ had been a concern, I may have held on and tried for 300K miles.

[JAGI410]

Don't buy. Use uber, buy a cheap a-b mom transport van, or anything else besides get into a new car payment.

[stien]

Don't buy. Use uber, buy a cheap a-b mom transport van, or anything else besides get into a new car payment.

We just did this. A 2006 Sienna. We LOVE it. Fits cargo bikes, our dogs, baby, tandems, whatever.

[jmoore]

Don't buy. Use uber, buy a cheap a-b mom transport van, or anything else besides get into a new car payment.

This is exactly what I was going to post. Buy an inexpensive mom hauler and you'll be golden. Maybe a 2010 Ford Escape or something similar. Every manufacturer has a small SUV like that. I bet you could find one in good shape for way less than $10k.

[p nut]

Warren Buffet drives a 20+/- year old Volvo right? What impact does the tacoma have on driving your mom around, or what are your concerns that the highlander would alleviate... safety, accessibility, etc?

I drive an old Outback that gets me where I need to go, it's ugly, not terribly comfortable to my family for long trips, but utility wise it's quite functional... style wise its a clunker. My better half has a slightly newer Highlander and it's fine. I don't like driving it as I find its seats uncomfortable on longer trips, but that's the complaint about my car from others so mine is the commuter and hers is the vacation/trip hauler. I'll trade you my Outback for your Tacoma. ;)

I don't think so. I saw some youtube vid where he received a new Caddy, "trading in" his old 4-year old Caddy. This was a few years ago.

Granted, a brand new Cadillac to Buffet is like an old beat up Volvo to most of us.

To the OP: I would get a minivan. Forget the Highlander or any other CUV/SUV/Crossover. Extra step up to running boards then into the cab may not seem like a big deal vs just stepping into the cab, but I assure you, for older folks, it is.

[buddybikes]

Buy a smaller used crossover/smallsuv/hybrid or whatever to cart mother around, keep Tacoma.

Once you lose it, it may not come back when you want it.

[zap]

Well my intentions were to keep it and run it into the ground, but mom's health has deteriorated and I am "driving Miss Daisey" as it were, she has a tough time getting in the truck. It is also a pain carrying more than one passenger as the access cab has minimal room. The Highlander is a pricey vehicle buuut at 0% financing and the discounts offered it's a vehicle I'd keep for a while just like I did the Tacoma

This is a need that you can't ignore.

Normally I would suggest keeping a vehicle as long as it does not break down and requires big $ to repair.

But you need to take care of mom. Maybe consider slightly used 1-2 year old Highlander or something comparable.

[josephr]

my 83 y.o. mom has a lot of trouble getting into the CX5 or my brother's Highlander, but its still a lot better than a low-sitting car. I wish we still had the minivan with the captain's chairs in the middle row. That big sliding door and running boards really helped. Find a good used one and you're set. Keep the Taco for you.

[cmg]

don't buy, rebuild what you already own. You already own the truck just replace the engine or transmission when it fails. drive it into the ground. Unless the frame is rusting which i doubt it is.

[steveoz]

Thank you for all the input! Couple points, I'm in a condo with very limited parking so a second auto is out, I'm not thrilled about a minivan as my daily driver and no matter what I decide it's a long term commitment (even keeping the Taco) and - not to sound morbid - but any vehicle I keep is likely to outlast mom...:( . What drew me to the Highlander is the fact it is a 2019 so the discounts seem pretty good (XLE is msrp@42k and they are offering it for 35k) and 0% financing so a nice saving on interest. It also gets great write ups on reliability where a 2020 makeover might have new car bugaboos.
As of now I'm still (and always was) leaning towards keeping the Tacoma - mom will just have to jump a little:p:

[Ken Robb]

This is very simple: Car Payments Suck. Period.

You're paying on a (very) rapidly depreciating piece of machinery long after it has diminished in value to the point you are underwater. As much as I like cars, the finances of auto financing is basically a scam.

Save up, pay cash.

I bought a car a year ago and while I can make the payments with ease, I'll never do it again like I did. I'm paying it down as fast as possible and wouldn't do what I did again.

This may be a mistake because the interest on most car loans is loaded into the front end so early on most of your monthly payment is for interest so before rushing to pay the loan off early find out what the remaining balance/pay-off amount is. If you divide that by the number of payments remaining you may find there is very little interest remaining to pay so you won't pay any more by letting the loan run its course. Years ago I had a 12 month car loan and I HATED owing anybody anything so as soon as I could earn enough to pay it off (6 months as I remember) I rushed down to the bank and paid it off. As I walked to my now-free-and-clear Volvo I did the math and realized my remaining payments would have added up to the amount I had just paid. I was a new Realtor on straight commission so having that $$ in the bank would have been more comforting than getting out from under the car loan early. DOH!

[4Rings6Stars]

...
What drew me to the Highlander is the fact it is a 2019 so the discounts seem pretty good (XLE is msrp@42k and they are offering it for 35k) and 0% financing so a nice saving on interest. It also gets great write ups on reliability where a 2020 makeover might have new car bugaboos.
As of now I'm still (and always was) leaning towards keeping the Tacoma - mom will just have to jump a little:p:

We have a 2017 XLE and really like it. We have a third kid due next week though and I want to replace it with a Sienna...

Just be sure that the 0% financing can be used in combination with the other incentives... Not sure if it's the case with Toyota or not, but when I was looking at getting a leftover 2018 Chevy truck earlier this year it was either or. You get the 0% and pay essentially full MSRP, or you get the $7k in discounts--not both.

[p nut]

We have a 2017 XLE and really like it. We have a third kid due next week though and I want to replace it with a Sienna...

Just be sure that the 0% financing can be used in combination with the other incentives... Not sure if it's the case with Toyota or not, but when I was looking at getting a leftover 2018 Chevy truck earlier this year it was either or. You get the 0% and pay essentially full MSRP, or you get the $7k in discounts--not both.

Same experience here. Either 0%, or you can get better pricing--not both. There is no free lunch here.

[denvervig]

2004 Land Cruiser w/158K - still going strong 'cuz it's a Toyota! Save your pennies

[Frankwurst]

Drive the Tacoma into the ground. 0% still means a payment. If you don't mind payments disregard this advice.:beer:

[Nomadmax]

Been driving my Tacoma for 13 yrs, and while it has reasonably low miles it does have a bit of age....and I am now having to drive mom around a bit...so make payments on a 0% interest deal on a new Highlander?....keep driving the Tacoma...:eek:


I don't know how high the Highlander sits (in terms of getting mom in and out). I have a Silverado pickup and have to use a step to get my 82 year old mom in and out of the cab when I take her places. I'll do what I have to do but I'm allergic to borrowing money, even at 0%.

[MrCannonCam]

Same experience here. Either 0%, or you can get better pricing--not both. There is no free lunch here.

Unless you bought a dieselgate car! 5k off msrp and 0% (w/166k warranty) when I bought my 15' Golf new in 17'

To the OP it seems that the total mileage/condition/other factors contributing to the value of the Tacoma are a big factor in the offset to me. They go for big money used. If you get enough for it to offset the cost of the Highlander a bit than at 0% seems like it'd make sense for your situation. As far as vehicles go Toyota seems to be one of the best 'investments' you can make. My brother has an 07 Tundra with 300k on it and aside from routine upkeep it hasn't been in the shop for anything major. The numbers he's been offered for that truck on both private sale and trade in's had been insane. If I ever needed a truck or SUV I'd definitely consider shelling out the extra cash to get a Toyota

[Matt-H]

I don't know how high the Highlander sits (in terms of getting mom in and out). I have a Silverado pickup and have to use a step to get my 82 year old mom in and out of the cab when I take her places.

This. Some stepping stools also come with handrails. Throw it in the back of the Tacoma when driving Mom around.

[jtakeda]

Do you have running boards installed currently?

If so why not just swap for some lower boards?

[saab2000]

This may be a mistake because the interest on most car loans is loaded into the front end so early on most of your monthly payment is for interest so before rushing to pay the loan off early find out what the remaining balance/pay-off amount is. If you divide that by the number of payments remaining you may find there is very little interest remaining to pay so you won't pay any more by letting the loan run its course. Years ago I had a 12 month car loan and I HATED owing anybody anything so as soon as I could earn enough to pay it off (6 months as I remember) I rushed down to the bank and paid it off. As I walked to my now-free-and-clear Volvo I did the math and realized my remaining payments would have added up to the amount I had just paid. I was a new Realtor on straight commission so having that $$ in the bank would have been more comforting than getting out from under the car loan early. DOH!

This is probably true. I just hate owing money of any sort. Everyone I know who has paid off their house, for example, is glad they did even though it’s often thought to be “good” debt. Psychologically it’s a thing for many people.

[AngryScientist]

you can always give your taco the "bag and tuck" treatment too. mom can hop right in!

https://i.pinimg.com/originals/54/07/a2/5407a20ad6505508b7bbad2597225e0d.jpg

[redir]

I'm still driving a '92 Dodge Dakota around so you know what my answer would be... Keep the Toy ;)

[marsh]

Ya we have been thinking hard about the 2019 Highlander w/the 0% financing.
We are in a tough spot bc we have to replace the Mazda CX-7 (timing chain is about to go), and I need a safe vehicle for the wife and kid. I'm still driving my 96 XJ and have to either sell or put some more $/time into it before winter.
Not having a car payment for 10+ years, I think it would be too much of a shock to the system to pay so much monthly. I'm looking at a few years old 4runner, Highlander or Outback, have it paid off in 2 years and have my son inherit it when he starts driving in 8 years.

[steveoz]

Yea I made the mistake of going to the big auto show in Ft Lauderdale just to rub my butt on all the new cars - originally was eyeballing the new Rav4 - but the Highlander was so rooooooomy! and leathery smellin ....

[steveoz]

Well after some deliberation I decided on a 2015 Lexus ES350, mom couldn't hop into any of the SUV choices, and if I had to go the car route I wanted something nice with a touch of luxury that I wouldn't mind spending time in while driving. The price was much lower than any of the SUV choices, the miles were low so back into payment mode I go....:eek:

[steveoz]

well after some deliberation i decided on a 2015 lexus es350, mom couldn't hop into any of the suv choices, and if i had to go the car route i wanted something nice with a touch of luxury that i wouldn't mind spending time in while driving. The price was much lower than any of the suv choices, the miles were low so back into payment mode i go....:eek:

1697989731

[steveoz]

1697989732

[zmalwo]

Been driving my Tacoma for 13 yrs, and while it has reasonably low miles it does have a bit of age....and I am now having to drive mom around a bit...so make payments on a 0% interest deal on a new Highlander?....keep driving the Tacoma...:eek:

Tacomas hold value. trade it in and get a Toyota hybrid. Corolla Camry Prius anyone of them will do. 53/52 MPG in 300,000 miles it will save you enough money to buy a new Highlander.

[Louis]

Are you keeping the truck, or selling / trading it in?

Will a bike fit in the Lexus?

[farmallguy]

People who don't want to borrow money at 0% aren't making sense. If you have cash to buy a vehicle it's a choice between having a new vehicle or keeping the cash. If you finance at 0% you get both. You get the new vehicle and keep the cash which earn money if invested.

[oldpotatoe]

People who don't want to borrow money at 0% aren't making sense. If you have cash to buy a vehicle it's a choice between having a new vehicle or keeping the cash. If you finance at 0% you get both. You get the new vehicle and keep the cash which earn money if invested.

BUT, getting that 0% also means you pay closer to MSRP, yes?
I think paying some in interest and getting a lower price would make sense.

So..0% for 5 years for $40,000 or 2% at 5 years for $32,000

$8000 per year/$667 per month or about $100 less per month..

[farmallguy]

BUT, getting that 0% also means you pay closer to MSRP, yes?
I think paying some in interest and getting a lower price would make sense.

So..0% for 5 years for $40,000 or 2% at 5 years for $32,000

$8000 per year/$667 per month or about $100 less per month..


Not in my experience and if it does , go to another dealer. My last vehicle, 2 years ago, was same price either way.

Even at 2% for the loan you at least break even because you can earn 2%in an online savings account. And you still have a new car and the cash.

[steveoz]

Sooo maybe my update wasn't clear , the SUV were taken out of consideration - I bought the Lexus and traded in the Tacoma...

[zmalwo]

The end of this month is the best time to buy a 2019 model. Dealer's monthly, quarterly, and yearly quota all piles up at the end of December each year, plus they need to get the 2019 vehicles off the lot cuz as soon as the calendar turns 2020, 2019 models become obsolete.