So, I have a question.
I have a monthly/weekly/daily internal debate. I’ve got this truck, my ‘15 Tacoma. I like it well enough, and I can both understand and not understand the resale value on these. They don’t feel like anything special, but it also doesn’t feel like it’ll ever break.
On an average year, I put about 5k on it. This year was above average because road trip, but for example, since Nov 1st, I’ve put 700 miles on it. It seems quite silly to have a vehicle (I won’t even mentioned my wife’s ‘14 Grand Cherokee) resting in the driveway chewing away $500/month. My wife and I both work from home, and within walking distance to my son’s school. My original intent was to hand this one down to my son, but he’s still 7 years away from driving age. I probably have about $14k in equity, give or take $1k or so.
So, what would you do, make another 2+ yrs of payments? Sell and park something older in the driveway that would be paid off? The reasoning is simply financial. There’s no pressing need as we both have stable jobs, I just can’t help but think that money could be put the better use. There’s also the catch that with a Taco, hanging on to it a few more years doesn’t mean too much in terms of losing any value.