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

[Jere]

Originally Posted by 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...

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]

Originally Posted by 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.

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]

Originally Posted by steveoz

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]

Originally Posted by tomato coupe

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]

Originally Posted by 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...

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]

Originally Posted by JAGI410

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]

Originally Posted by JAGI410

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]

Originally Posted by 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.

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]

Originally Posted by 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

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.