Wants versus Needs

[Skrillah]

Hey guys,

Got a vehicle question for you that I need opinions on. I drive an '04 Xcab Tacoma 4x4, has around 90k miles on it. I drive 85 miles a day to and from work. My wife and I's jobs are spread about 60 miles apart, which both are good jobs and pay well so its hard to give up, especially in this economy.

My question is to whether I should keep my Tacoma or not, since I drive that kind of mileage. The idea behind it is to eventually build an expedition rig and take camping tours out west. Its loaded with the diff lock, the TRD package, etc. so its a dream truck to start with. Though, again, I've been debating on its sale simply due to the the mileage and gas prices going up. I love driving it but only really use it on the weekends for house projects,and occassional camping/exploring trips. Otherwise,90-95% of the time its on the road hauling my ass around.

So...I can keep it, and deal with it all in hopes of finding a closer job eventually...

I can keep it, and spend roughly $5k-$6k on a commuter car. Still driving it in the winter and once or twice a week/weekends...

Or..

Sell it, buy a new car, thats good on gas and is more "practical" for what I use it for. I've looked at the Mazda 3 Hatchbacks or possibly Subaru's.

My wife is relatively indifferent on the topic, shes not too keen on the 5-6k for a commuter car but she could probably be talked into it. Realistically, I probably wont' reach my western exploring goal for a few years so if I keep it, put this kind of mileage on it, it may have too many miles before I get to this point anyways.

Its relatively stock but is in perfect condition. All maintenance is done on it including timing belt, water pump, etc. and could leave for California tomorrow if it had to. Its not paid for completely as I still owe a few thousand on it.

So...I simply need some advice on this...whats your thought? What do you drive daily? How far?

Mods:feel free to move this if its in the wrong section.

[Robinhood4x4]

What does the wife drive?

[oly884]

I'm in a somewhat similar situation. I'm needing something a bit more practical in terms of mileage and costs to operate.

I'd suggest keeping it and buying a cheap commuter car that will run, and keep the truck.

That's at least my plan. I figure if I spend $2,000 on a commuter car (older AWD subaru), the cost savings with mileage alone (not counting cost of tires, etc) I'd have to drive for approximately a year to make it worth-while. That way, you can get around just fine, get good mileage, save the wear and tear on your truck, and have the ability to take your truck out of commission (taking the diffs out for a re-gear, clutch replacement, etc) and still have transportation.

[Skrillah]

Thanks guys.

Robinhood-
The wife drives a 2010 Mazda 3 sedan. Nice car, gets 40 mpg. She drives about 60 miles a day round trip. Last year, she drove the full distance, or about 120 miles a day so she has 40k on her car already. Sort of the reason I'm leaning towards one of their hatchbacks, surprisingly fun car.

Oly884-
I'm leaning towards the commuter car thing right now, I just know I'd regret going to a car only lifestyle. The car only lifestyle is the "responsible" thing to do since its more efficient, etc....the wants versus needs thing is killing me.

Do you feel only spending $2k is adequate for a commuter car? I feel like I have to spend at least a little money so I'm not fixing a hundred things on it. Granted, I would do the work myself but still I dont' want to be working on the thing all the time. Those older AWD Subarus are nice, they run forever. I'm leaning towards a late 90's/early 00's Camry or Corolla. Most are around 4-5k with just at 100k on the odo.

[oly884]

I think $2k is adequate for a car, just be sure to give it a thorough inspection. I'm lucky since my buddy is a huge subaru guy, so when I check cars out he comes along and gives me a thumbs up or thumbs down. For $2k, you're going to be looking at some minor replacement stuff. I found a 1995 Subaru wagon, AWD in really nice condition with the exception of a missing center console, cracked windshield, and a frozen AC pulley for $1800. In-all, those are very minor and easy things to fix, if one even chooses to do so. Unfortunately though, it sold before I could see it in person.

It really depends on how much of a 'deal' you're willing to look for. The more work involved, the cheaper it'll be (to a point).

Just be sure to do the math on what the vehicle will cost, and the mileage difference between the new vehicle and your truck. $6k is a good hunk of change to drop on a vehicle, and with the cost of gas, maintenance, and insurance, the payback period could be at least a few years. That's the bit catching point for me, if the payback period is too long, what's the point? And that's not to say that a few years for a payback isn't worth it, but it's just something to consider.

[corax]

A few questions need to be answered yet:
- is the truck paid off or close to being paid off?
- how expensive is the yearly registration and do you have to pay personal property tax on it every year?

If the truck is paid off, and yearly registration/taxes are low, you should keep it since it won't be draining your wallet just sitting there.

For commuter duties, don't forget a FWD Honda Civic or Accord - they run forever, get great MPGs and can be fun to drive. Personally, I plan to go with a Civic from the early 90's as soon as I have the space to park a third car - easy to find for under $3k. A real quick Craigslist turned up these in your area:
http://bloomington.craigslist.org/cto/2278467022.html <- if you're looking for fun factor, this one should have it
http://bloomington.craigslist.org/cto/2279492712.html
http://bloomington.craigslist.org/cto/2256409159.html

[Skrillah]

Oly884,

You bring up good points. $6k is a lot to spend and doesn't exactly seem worth it. I average about 20mpg, and drive 425 miles a week just to work, thus its costing me at gas's current rate, about $3800 a year, versus about $2600 at 30 mpg. So there's a savings of $1200 year, plus depreciation but I don't know how much I average on that. Probably around the same amount a year or a little more. So we'll say a car would save roughly $3k a year...?

Corax,
You too, bring up good points. The truck is not paid off. I still owe about $6-7k on it. Registration fees are about $180 a year with no other taxes.

It does seem worthless to let it sit most of the time. I just really hate to let it go because lord only knows when I'll be able to get another. I'm a newlywed and don't have any plans of having kids...but you know how money gets tied up elsewhere. Just hard to let go...especially, when my passion is being outdoors. Just have to choose the battles I suppose, money battles and otherwise.

[oly884]

I'd say a car would save you about $2k max a year to be honest, if not closer to $1,500. Gas prices are the primary operating costs. You can factor in other things like tires, maintenance, etc, but I think it's better to play it conservative and just assume that the car will save you 1,200-1,500 a year. Don't forget to factor in insurance. The older/cheaper the car is, the better it'll be.

If you are going to pick up a commuter car, I'd go cheap, 1-2k if you can find a good running vehicle that won't be a hassle (older toyotas, subaru, etc). Just use it for commuting, running to the store, etc. The rest of the fun stuff can be left for the truck.

[paddlenbike]

I would caution against giving up a lifestyle and hobbies you enjoy to save $1,200 a year. Get rid of cable tv instead. You also need to factor in the number of favors you're using from friends and family or truck rental costs every time you work on home improvement.

If I drove that kind of mileage I would buy an inexpensive commuter car. Something under $4k where I can have only liability insurance. This scenario will lower the annual premium on the fully insured vehicles since the mileage is being applied to the inexpensive non-fully insured car.

[Skrillah]

Thanks guys, I knew I could count on some good advice.

I've dropped cable already! Haha! Maybe I'll start charging my friends everytime they want me to help them move.

Really though, I agree. I think the best option is to keep the truck and find something to drive as a commuter.I think I'd regret it way too much if I sold it.