If you're not making a payment every month I'd argue you're still ahead with this one. My trucks annoy me at times too because they are old and there is always something to fix. I doubt you'd find anything halfway clean in your neck of the woods too.
My Ford Truck Project (And Other Projects)
- Thread starter joesregalproject
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Why not just get a winter beater and save the truck for when you need a truck?
"At least I don't have a car payment" is what I keep telling myself, but it's costing me just as much to keep a 25 year old truck with 165k miles on it and questionable reliability as it would to just buy something certified or off of lease or something.
It's not like these are just a couple hiccups either. It's been needing stuff, and it's going to need more work. Rust is popping back through in spots, the exhaust isn't in great shape, the rear main seal continues to get worse, etc, etc.
I'm not in a position to buy a new vehicle outright, but I can make a nice down payment and keep the loan short. Believe me I'm all for avoiding financing but I think I'm nearing the point where it might be a better option.
You mean buy another car that is of questionable reliability and depend on it to get me around during the worst weather of the year?
I get your point, but then it becomes one more car in the driveway, one more car that is gonna need stuff fixed, has to be registered, insured, etc. And again, do I really want to depend on an old beater to get me to work in the cold and snow?
Even if I had the real estate to keep another vehicle (I don't), it just winds up snowballing the issue.
Two other points I'll bring up here.
This truck isn't a mint unmolested 25 year old truck. It has more patch panels in it than I have brain cells. It hides it well, but it is a rusty PA truck that has been patched together multiple times. I like to think I'm half decent at body work but I'm still not as good as Ford's assembly line.
And I've put a lot of time and effort into this truck. And for the most part I really didn't mind doing it. Spending some money on parts and putting a few hours into it every now and then. But "every now and then" is becoming more and more frequent, and the fun is gone. I say that with a heavy heart because I've put so much time and effort into this truck, and enjoyed a lot of it, but it is less fun and more of a chore every time.
This truck isn't a mint unmolested 25 year old truck. It has more patch panels in it than I have brain cells. It hides it well, but it is a rusty PA truck that has been patched together multiple times. I like to think I'm half decent at body work but I'm still not as good as Ford's assembly line.
And I've put a lot of time and effort into this truck. And for the most part I really didn't mind doing it. Spending some money on parts and putting a few hours into it every now and then. But "every now and then" is becoming more and more frequent, and the fun is gone. I say that with a heavy heart because I've put so much time and effort into this truck, and enjoyed a lot of it, but it is less fun and more of a chore every time.
You know, old rot free cars are easier to want to keep on the road. Maybe set your sights on something similar but rot free? I.E. an out of state purchase.
Still looks good from here but I get it. In my mind cars should either be fun or low maintenance. If the love affair is over, it's over.
I've been told a vehicle is going to cost a minimum of $100 a month to own. If you are at that $100 range you are doing good. Doesn't matter if it's maintenance, depreciation, storage fees.
If you buy a new $30k car and own it for 10 years and sell it for $18k and never have to spend money on repairs you hit a home run (never going to happen)
If you but a $1000 car and spend $1200/year keeping it on the road, you hit a home run
If you buy a $25k 60's camaro and sell it 5 years from now for $28k but spent $9000 storing and maintaining it, you hit a home run.
My 265k mile rainier is rusty and costs me probably $100 a month in maintenance and depreciation but I'm cool with it. It's hardly depreciating at this rate and you notice a $75 part and 2 hours a month more than that $175 in monthly depreciation on top of normal wear and tear you would be paying for otherwise.
If it's not fun, doesn't do what you want or other personal reason I get it, but it's impossible to ever use a financial basis to justify a different aka 'newer' vehicle.
If you buy a new $30k car and own it for 10 years and sell it for $18k and never have to spend money on repairs you hit a home run (never going to happen)
If you but a $1000 car and spend $1200/year keeping it on the road, you hit a home run
If you buy a $25k 60's camaro and sell it 5 years from now for $28k but spent $9000 storing and maintaining it, you hit a home run.
My 265k mile rainier is rusty and costs me probably $100 a month in maintenance and depreciation but I'm cool with it. It's hardly depreciating at this rate and you notice a $75 part and 2 hours a month more than that $175 in monthly depreciation on top of normal wear and tear you would be paying for otherwise.
If it's not fun, doesn't do what you want or other personal reason I get it, but it's impossible to ever use a financial basis to justify a different aka 'newer' vehicle.
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