decisions

Nighthawk016

Nighthawk016

here lately Ive been looking around at all of the people picking up some new vehicles. I have had my truck for about 2 years now and have dumped far too much money into it and have really gotten nowhere. My goal since ive bought the truck has been to get it as rust free as possible and get it to 1 color. unfortunately it seems like every step i take to get closer to that really just pushes me farther away from having the truck done.

so im at a crossroads here. Do i keep pouring money into my truck that STILL needs work after dumping over 1k in just metal parts or do I look for something that fits more into what i want, a cleaner single color truck? with all of the things I have done to this truck i can't bring myself to sell it, but with my current job saving money is rather difficult. and another big problem is how far id have to drive to find myself a clean truck, a possible 800+ miles round trip, which is nothing to shake a stick at.

So, where is my money better spent?
 
rezrider

rezrider

1) You need to know what the truck will be worth (market price) so if and when you sell it you get as much of your money back as possible.
** Just remember that buying a vehicle is the WORST investment a person can make BUT, is one that in most cases MUST be done.
2) In order to find the truck of your dreams (ok maybe not dreams) you'll need to figure out what you are willing to
a) Spend
b) Drive to get it
3) Bite the bullet and sell it if you feel it is taking it's toll (both finaincial and time)
 
O

ossagp

The big question for me would be not so much what the rig is going to be worth to others, but what it would be worth to me. It doesnt sound like one color and rust free that it is the one that fits the bill for you, based on you own words.
 
rezrider

rezrider

ossagp:
The big question for me would be not so much what the rig is going to be worth to others, but what it would be worth to me. It doesnt sound like one color and rust free that it is the one that fits the bill for you, based on you own words.
Click to expand...

This is true... I was going by his comment of "pouring money into ti and doesn't seem to be getting any where".

I agree with you that he's lost interest in it.
 
James

James

Staff member
First off, cars aren't investments, you will never get out what you put in. They need to be treated as tools, basically something to take care of a problem (get from A-to-B, pick up chicks, impress clients, etc.).

What exactly are you looking for, something that gets you from A-to-B? If so what's wrong with your current truck? It runs right? With a truck like that I wouldn't be that concerned about the rust or if the paint doesn't match, just that it gets me from A-to-B. I also wouldn't be putting any money into it unless it's to get a dead truck running again.

If you want something a little newer and more dependable you're going to have to spend $2,000-5,000.

My advice would be to keep it until you're out of school and have a full time job. While not putting a penny more into it that you don't haven't to, instead save that money.
 
rezrider

rezrider

I referred to it as an investment because (in the biz) it is considered so due to the amount of money a person parts with... whether it is $1000 or $50,000, the monies spent is usually based on the income to debt ratio... "how much can I afford to part with"... either way it is considered an investment.
 
James

James

Staff member
rezrider:
I referred to it as an investment because (in the biz) it is considered so due to the amount of money a person parts with... whether it is $1000 or $50,000, the monies spent is usually based on the income to debt ratio... "how much can I afford to part with"... either way it is considered an investment.
Click to expand...
Sorry Rez that wasn't meant to "correct" you in anyway, we just used that word in two different uses. Like you I was simply stating that cars aren't investments in the sense that you'll maintain or increase value. But yes you still have to make an "investment" into a car, just don't expect to get that full amount back.
 
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