[USER]

My husband’s $80k leased truck was deemed a lemon.
This is a blessing in disguise. We’ve been struggling to get by with a truck payment of over $1,000.

The dealership is refunding 70% of what we’ve paid towards the vehicle so far, $28k.

We’ve learned a lot in the last couple of years and don’t want to make the same mistake again. However, we do need a truck for a multitude of reasons.

Would we be better off buying a cheap used truck with higher mileage and risking needing to pay out of pocket for repairs, or waiting and saving until we can afford to buy a new truck?

[Josh]

Do you need a TRUCK truck? Or can you get by with a half ton? Are you guys hauling horses or just trips to Home Depot?

If you can get by with a smaller truck, I’d look into an older tundra.

Their 4.6L V8 are among the most reliable engines on the road.

[Megan]

Does he need a truck? You can get a lot of smaller car for 28k

[Josh]

I make right at 100 and this is what I drive to work. It has manual windows and its never left me stranded.

I own it and I maintain it, it’s mine.

Unless he specifically needs something bigger for work, that 1000 monthly payment is for an ego.

[Stephanie]

We have bought salvaged vehicles at a great discount. My husband makes sure he knows the damage that has been done previously (VIN check and asking seller for photos) and researches to find all available photos.

He prefers to buy a vehicle with rear damage, as there’s less of a chance of it having damage to the most expensive area of the vehicle (front).

[Don]

Judging by the truck owners I know, the frequency of actually hauling something in the bed is so low that they’d be better off renting a U-Haul trailer, U-Haul truck, or Home Depot truck a few times a year.

Home Depot trailers are like 25$/day, lower to the ground, easy to pull.

We don’t know your use case to give useful recommendations.

My philosophy is if you can’t afford to buy new with cash, you can’t afford to buy new.

[Sam]

I strongly recommend buying used < 5 years and a vehicle with very low average maintenance costs, you can look up average 5 year maintenance costs to get an idea.

I understand the need for a truck and bought a Tacoma.

The year I bought it gave it as the third lowest average maintenance cost vehicle (I think the Corolla and Camry were one and two).

But I just crossed 100k miles, and in 7 years I’ve had it, it’s never been in the shop for maintenance other than fluids, filters, tires, and glass.

[Joann]

I second a salvage title car. Right out of college I bought a salvage car for $9k, drove it for 10yrs and sold it for $5k 10yrs later.

And I only bought one way insurance the whole time.

Saved me a ton. Now I drive a 911 S Carrera, my dream car.

It’s better to pay save, invest so u can enjoy the fruit of your labor later.

[Jessica]

What state are you in? We did a lemon buyback last year in CA and got back 100%

[Chase]

I’m confused. Did you not do the math before got the truck? How did you not know you couldn’t afford it?

Doesn’t really seem like someone who wants to be financially independent or retire early to me.

[Kirby]

How much do you need a truck? Ie how many miles a year? And how much does reliability matter?

If it has an issue will you be missing work?

I’d get something 10 years old with low miles myself.

[Kim]

You need to buy used. It should be something with lower miles so you have awhile before the repairs start.

Buy what you can pay cash for.

Auto loans always have high interest rates compared to homes.

[Jeff]

You can get a great vehicle for $25,000. Look for something certified pre-owned. Maybe 30-40k miles on it with one owner. Use carfax to look at service records.

Used shouldn’t scare you as long as the vehicle has a good service history.

Even if you found something in the $30,000 range and put 15k of your 28k down, your monthly payment would be maybe $300 or so.

Google search car loan calculator and plug and play the numbers.

I agree, this was a blessing for you guys because a car payment that high can really handcuff you.

[Jeremy]

Get a tundra. Easily pickup a good one for 10k. They’ll go forever.
I’ve had a few.

Current one I got for $4500. Has 252k miles.

Last one was a 2004, sold it with over 300k. Still ran great.

[David]

Find a well maintained, garage kept, clean carfax, private party, 10-15 yr old Tundra, you can’t go wrong.

That $1,000 truck payment will cover LOTS of repairs, even if it’s a big one like a transmission.

You can swap a used junkyard transmission in for like 3-4 months worth of your old truck note.

[Roy]

2015-2017 or 22+ ford f150’s those are the model years that have been made the best, best bang for the buck 250k-300k mi truck easily

[Jay]

Supporting the automotive industry planned obsolescence for a new disposable vehicle is poor financial management.

[Meemee]

A new Toyota Tundra starts at 42k.
With 28k down, you could probably finance the rest comfortably and keep it forever if you take good care of it.

[Allison]

Older trucks are ridiculously more reliable. The AFM on GM was junk. The turbo ford was junk. The twin turbo Toyota is junk.

The dinosaur juice guzzling ford chevy Toyota dodge of like pre2005 is the glorious sweet spot. Pay cash for one of those.

Pay for repairs as they come up. And be further ahead financially this way.

IF and only IF you can dollarize the necessity of owning a truck vs renting when needed

[Author]

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