75K on my 2004 GX-Thinking About a Change
02-26-12, 08:02 AM
#31
Well, the downside is that you now have extended your payment for another 4/5/6 years, vs having the truck paid off in 16 months. Based on your driving pattern, you should own the truck by the time the 90k service hits - spend the 2K on tires/service and you can start sacking money away. For whatever comes up next.
It's almost always cheaper to repair an older car that has been paid off than it is to finance a newer vehicle.
It's almost always cheaper to repair an older car that has been paid off than it is to finance a newer vehicle.
I'm amazed at the # of people who love to lease and finance depreciating stuff. It's a USA disease.
02-26-12, 08:44 AM
#32
Pit Crew
Thread Starter
Not to sound insensitive, but I'd pay the thing off esp if it's only $5K remaining on the balance. I don't understand people who justify new purchases based on monthly payments. Don't let the banks own you. Get that title.
I'm amazed at the # of people who love to lease and finance depreciating stuff. It's a USA disease.
I'm amazed at the # of people who love to lease and finance depreciating stuff. It's a USA disease.
02-26-12, 08:57 AM
#33
Without getting into too deep a discussion on this, I have no problem financing purchases if the cost of the credit is lower than the opportunity cost of investing it. As the owner of a fee-only wealth management firm, I am well aware of long term returns of a well diversified portfolio. When the cost of credit is under 2% (My GX is at 1.9%), it doesn't make sense to pay cash.
03-02-12, 05:20 AM
#34
Pit Crew
Thread Starter
After changing my mind almost daily, I've decided to dig in and keep the GX for a few more years. I only drive 9-10K a year because my commute is short and we take my wife's 2010 Honda on trips. At that rate, I'll still be under 100K in 2 years. From what other owners report, not a lot goes wrong if proper maintenance is done.
03-02-12, 01:10 PM
#35
Pole Position
After changing my mind almost daily, I've decided to dig in and keep the GX for a few more years. I only drive 9-10K a year because my commute is short and we take my wife's 2010 Honda on trips. At that rate, I'll still be under 100K in 2 years. From what other owners report, not a lot goes wrong if proper maintenance is done.
03-02-12, 01:31 PM
#36
yup, very right decision...
when i came here i expected a more mature crowd of car enthusi... nevermind... a more mature audience of owners... anyway people are always wanting somethin new even if it is a worse car or worse decision... my brother wants to get a next gen sequoia to replace the current older gen sequoia his wife has because it's newer bigger better... now that would make sense but his wife wants a lexus suv like a 460 or 570 etc... he wants to trade his tundra in now cuz it's too trucky for him and would want rx350... so you see?
when i came here i expected a more mature crowd of car enthusi... nevermind... a more mature audience of owners... anyway people are always wanting somethin new even if it is a worse car or worse decision... my brother wants to get a next gen sequoia to replace the current older gen sequoia his wife has because it's newer bigger better... now that would make sense but his wife wants a lexus suv like a 460 or 570 etc... he wants to trade his tundra in now cuz it's too trucky for him and would want rx350... so you see?
03-02-12, 02:15 PM
#37
Pole Position
yup, very right decision...
when i came here i expected a more mature crowd of car enthusi... nevermind... a more mature audience of owners... anyway people are always wanting somethin new even if it is a worse car or worse decision... my brother wants to get a next gen sequoia to replace the current older gen sequoia his wife has because it's newer bigger better... now that would make sense but his wife wants a lexus suv like a 460 or 570 etc... he wants to trade his tundra in now cuz it's too trucky for him and would want rx350... so you see?
when i came here i expected a more mature crowd of car enthusi... nevermind... a more mature audience of owners... anyway people are always wanting somethin new even if it is a worse car or worse decision... my brother wants to get a next gen sequoia to replace the current older gen sequoia his wife has because it's newer bigger better... now that would make sense but his wife wants a lexus suv like a 460 or 570 etc... he wants to trade his tundra in now cuz it's too trucky for him and would want rx350... so you see?
Are you feeling Ok?
03-02-12, 05:25 PM
#38
Pit Crew
Thread Starter
It's not really a car snob decision. I do need a vehicle that looks professional, and my GX is in really good shape paint and interior-wise. I just don't want to have a bunch of costly repairs over the next couple of years. I'm sure if I was on a Ford Expedition forum the responses would be different regarding repairs.
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GX - 1st Gen (2003-2009)
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