Comments on: Buying into an Auto Illusion

By: Aaron

Aaron — Mon, 04 Aug 2008 21:28:32 +0000

We have one car for two people (we carpool). We take home about 80k, but our car is only worth 4k. Cars are a poor “investment”. I can’t imagine taking a loan on a depreciating asset.

By: Torrey

Torrey — Tue, 29 Jul 2008 04:42:49 +0000

Boy, it’s hard to give someone $450/month for something that barely gets used. And that would be a great bump in you monthy debt payments. I think if it were me, I’d sell it and rent one like you’ve contemplated. If you don’t like life without the truck after a while, you can always go back and get another (maybe even cheaper or with cash).

By: Debbie M

Debbie M — Mon, 28 Jul 2008 20:20:40 +0000

So, it’s economics versus emotion, eh?

What are the emotional benefits you’re getting from the truck? Are there any cheaper ways to get these benefits? For example, if you like having a nice, shiny vehicle, then maybe a new paint job or wax on your other car could help you get the same feeling. Yes, you don’t need a new paint job, but neither do you need a truck, and one of them is a lot cheaper!

Would it help you to let go of the truck if you did it in a way that addressed your emotions? For example, you could take it on a farewell road trip or hold a wake for it or get your pictures taken in it and frame that.

By: Livingalmostlarge

Livingalmostlarge — Mon, 28 Jul 2008 02:32:40 +0000

I’ve contemplated a lot trading in one of our cars for another. And better yet sell both and buy a better one car for our family. But it’s hard to let go of having my “own” car.

By: fivecentnickel.com

fivecentnickel.com — Sun, 27 Jul 2008 17:07:38 +0000

I have a Honda CR-V and a 5 x 8 slat-sided trailer (the trailer cost about $800 new). A combo of that sort covers pretty much every possibly need, and gives you solid gas mileage when you’re not hauling stuff. I can fit three of our kids in the back seat, it has good cargo space (esp with the seats flipped down) and the trailer gives us the ability to haul all kinds of crap (e.g., with the high sides, I can haul up to 42 bales of pine straw without having to tie them down). True, I’m limited to towing ca. 1500 pounds, but how often do I need to do more than that in one load?

By: Clever Dude

Clever Dude — Wed, 23 Jul 2008 18:44:04 +0000

@Mrs Micah: No need to run the numbers as my readers already did it for me (in a prior post). Without a doubt, it’s much more economical for me to rent a truck rather than keep paying on this one. It’s purely an emotional decision now, unfortunately.

And Stacie said I have no emotions. Hah! In your face honey!

By: Mrs. Micah

Mrs. Micah — Wed, 23 Jul 2008 18:40:38 +0000

If you ever feel like running the numbers, it might be interesting to compare how much it’d cost to rent something like the truck for those few instances you need it vs. how much it costs to actually have one. Renting may well be cheaper in the long run.

By: savvy

savvy — Wed, 23 Jul 2008 18:07:22 +0000

We have three vehicles as well (two cars and truck). However, instead of financing a newer truck, we bought a beater pickup from a friend for $600. It’s not much money out of our pockets and we’re able to haul stuff from Home Depot as needed. It has really come in handy this summer (for landscaping projects) but because it cost so little, we don’t care if it’s not driven regularly.

Incidentally, until recently, my husband has used the truck as his daily driver instead of ‘his’ car because it gets better gas mileage.

By: Eden

Eden — Wed, 23 Jul 2008 16:11:12 +0000

For what it’s worth, we had a truck until about 3 years ago. We thought we needed it just like you. Honestly, I can only think of 2 occasions since we sold it when we really NEEDED a truck. Fortunately, we have friends with trucks so we work out a deal with them to borrow, usually paying them with some good food and a full tank of gas.

But like you said, the truck debt isn’t killing you so keep it if you really like it.

By: Ernie

Ernie — Wed, 23 Jul 2008 14:42:08 +0000

I understand the justification. We just did the same thing to get a newer, better on the gas car. After having it one month, I’m somewhat regretting it.

As for the truck, again, I get it. I say the same thing about my Dodge Dakota sitting in the driveway. I’ll probably need to haul something someday so I keep it.

I wish you the best if you decide to sell the truck. Prices in my area for trucks have plummeted. It’s almost apocalyptic looking at some of the prices trucks are going for right now.