Unable to Recoup $ Invested on FGT

After owning over 26 vehicles in my lifetime -- yes I keep a list -- this truck has taught me that some upgrades and repairs you do because you love the vehicle so much. I knew my truck would need repairs when I bought it but when you combine those expenses with what I paid for it, I'm at a point where I will never recoup all the money I've put into it. I considered selling it a while ago but when I added all the repairs, it would be very difficult, if not impossible to get it all back. I know I have used and enjoyed it during that time and I cannot expect to recoup 100%. But still. I also learned that using EOM parts and paying for good mechanics is NOT what car flippers do, because the math just would NOT work.

The lesson for me is that some vehicles you buy because your enjoyment far outweighs the $ you will spend fixing it.

 

I wouldn't call repairs an investment and you shouldn't be expecting to get that back when you sell. If that was the case, Chebbies and Ferd trucks would be worth a hell of a lot more than Toyotas.

 

Great point Jack. Thanks

 

Trucks are absolutely horrible long term investments and thinking about them as holding their value is not a good frame of mind if you plan to maintain sanity.

The only vehicle I have owned that was "a good investment" was my 2015 Taco dbl cab 4X4 that I sold for slightly less than what I bought it for, but that was only because I sold it in the heat of pandemic used truck hysteria.

And in no way did I even think about the mods in terms of the truck's value: full King suspension, TC UCAs, aftermarket LED amber fogs, SCS f5s, 33" rubber, camper shell, etc.

 

Yeah, I'm about $12k invested into my $5k truck. Maybe $7.5k.

 

Isn't this true for any enthusiast owned vehicle?

I have always viewed the term "investment" in car culture to be about investing in yourself, your understanding of how the car works, your enjoyment in the form of working on said vehicle or your enjoyment from using said vehicle, and even choosing parts to make your time spent on the vehicle worthwhile.

 

Investment: the outlay of money usually for income or profit

Investment is the most improperly used word on car forums. 99% of the money spent on cars is an expense, not an investment. Do people call the money spent on filling the tank an investment? No, but somewhere between a gallon of gas, a brake job, wheels or a fancy suspension the money becomes an investment, not an expense. Most of these are perfectly good expenses but bad investments.

OP, the notion that car owners will get back the expenses needed to keep a car on the road or even those that add functionality leads to asking prices that are well above what most (any?) people will pay.

Sure, some vehicles can be flipped for a profit but that takes a combination of a below-market purchase price, lots of above average elbow grease, shrewd model selection and a poorly educated or overly enthusiastic buyer. Buy the wrong car at the wrong price and no amount of elbow grease will turn that flipper into a profit (unless you find the dude with a recent bonus who wants to buy the car his grandpa had).

As for not taking an action (selling your truck) because you can't get the money out of it that you put into it, that's called the sunk cost fallacy. This can lead to bad decisions.

Love your truck and enjoy the heck out of all the money spent on it.

Now, can I interest you in some rare art for a risk free investment?

 

Great insights

 

Cars are bad banks

 

Cars are depreciating assets. Let's say I buy a new truck, and invest nothing other than the required maintenance over the next two years. The value of this truck will be be only ~75% of what I paid. Bad investment? (Actually, yes! Never buy new, rather buy a Certified Preowned, which reflects the depreciation that the prior owner suffered).

 

I agree with everything above . . . yet it's hard to argue the resale value on Toyota trucks . . . at least here in So Cal.
Case in point . . . I bought a 2003 AC V6 2wd from a neighbor for $6500 several years ago. I loved that truck, but I always wanted a DC. I did the necessary maintenance, & small mods to get it where i wanted it. When I found the right 'DC' I was able to sell the AC the same day I listed it for $7000 after putting 100K+ miles on it.

If / when I sell my DC, I don't expect to get some inflated price for it . . . but I'm confident I'll get a lot more relative to if it was a dodge, ford, or chevy, of comparable style / year condition. Also . . . compared to new-ish truck prices, and what I paid for my DC, plus all other things like insurance and registration, I figure I'm way ahead of the game in terms of money spent . . . so it's a much easier pill to swallow when it's time to sell.

Unrelated, but of interest . . . I've had boats all my life, arguably thee single worst investment known to man, LOL. However, both of my current Boston Whaler boats which are 1980's era, I could sell tomorrow for significantly more than I paid for them . . . probably one of the few boats (other than rare classics) you can say that about. Much like trucks, new boat prices have gone completely bonkers and through the roof.

 

Same goes for aftermarket mods. Just because you like that $5,000 lift you put on with the $4,000.00 wheels and tires doesn't add value to the second party.

 

Break. Out. Another. Thousand.

that’s why I got kayaks.

 

Most useable items like a vehicle, the cost or value gets used up too as the vehicle depreciates. My first gen has more than given me back what I’ve put into it in use and being available to use due to its extreme reliability. It’s never been out of service for a mechanical problem. I’ve likely only spent $5k on it over the life of the truck (I’ve had it 19 years now) in repairs and upgrades.

 

It's a vehicle, typically a depreciating asset. The money that you put into it, maintenance and whatnot are to allow you to continue using your vehicle, doesn't add value. Mods generally don't add value either (and in many cases subtract value), unless you find the right buyer. Buy a vehicle, use / enjoy that vehicle, and don't expect a profit when you sell it.

 

My snowmobile shoots loonies out of the exhaust. May even be toonies…

 

I always keep in mind the depreciation on new vehicles when I think about maintenance costs on our vehicles. I'll never forgot my calculus professor having us run depreciation a calculation on an escalade and saying "that's what it cost to own the car, you can just throw that out the window every month".

 

I have once again lowered the price of my Silver '06 DoublCab, which I'm selling in Westchester County, New York. I started with 12K, then 11, now 10. As this thread has highlighted, the market doesn't care how much one has spent sorting out the vehicle. I've also learned the audio/video upgrades are irrelevant and no one wants to pay for them, even if they are under warranty from Crutchfield and were professionally installed.

 

OK, I'll bite. Is your truck 4wd? How's the frame look? Any major accidents of record? How many miles?

 

The truck is 4WD, there is no rust (body or frame) no accidents, one deep scratch on the tailgate was reported as a minor accident and fixed professionally. I don't have a lift and have not needed any service on it and because of this do not have any pictures of the frame. 255K miles from its original owner. I bought it 8 months ago but I'm being relocated for work and no longer need it. Documented maintenance at the Toyota dealership and indies. Timing belt done, as well as the typical items.

The link below has more info and pictures.

https://www.tundras.com/threads/one-owner-2006-tundra-4x4-doublecab.140750/#post-3544313

 

You're in NY and you claim to have a rust free frame. Color most folks skeptical. You have not provided pictures of said rust free frame, so I imagine people are turned off by that. Also no pics of the interior which you also describe as being in great shape. What did you pay for the truck with 255k miles on it before you sunk the maintenance money into it? That truck here in the south with a truly rust free frame would go for around $9-12k with those miles on it if it's as cherry as you describe.

 

Thank you for your input KNABORES, I'll work on getting those missing pictures added.

 

FTFY.

Let's be real: Automobiles specifically are a horrible, horrible investment, period. The reality of the situation is, which is a less-horrible investment: Buying new, buying certified used, buying private-party used 5-10 years old, private party used 15-20 years old, etc. If you can managed to get a reliable-enough vehicle, and do the work on your own, like I wish more humans were capable of doing, you'll be able to eek out the most. The reality is, whatever amount @Trueno is upside-down in his vehicle, he'd have lost and/or paid in on a brand new vehicle already, and likely not be able to recoup.

This is one of those things where, like statistics, you can bend it any way you like to suit your personal narrative. Although I suspect the intent of the thread wasn't to necessarily validate/justify/complain about it, so ... whatever.

And you're still ahead compared to most. That speaks volumes to me. And better yet, that source of money spending is something you've typically enjoyed, with like-minded cohorts, and it's also unlocked a world of adventure for you with like-minded cohorts. That's a win-win-win, breau!

Ultimately @KNABORES nailed it. We have people from the rust belt on the 1st gen forums complaining up a storm about not being able to find a rust-free V8/4WD frame in the area, and claiming they'd spend up to $14k-16k to get one. I've personally helped 3 diff't people from PA, NJ, and NY find trucks in my area to fly down and buy them at more than what you're asking. If you're not posting very clear pictures the frame is clear as day, maybe the correct course of action is to show the proof in the sale ad, and expand where you're selling to focus on fleaBay, Cars.com, AutoTrader, FB Marketplace, Craigslist, and not just here on Tundras.com

You're almost always going to get LESS money on an enthusiast forum than you will elsewhere. This has been my experience on multiple [extremely difficult] sales in my lifetime. Two of those projects specifically I'd kill to get my hands on again at 50% more than what I sold them for, but the reality is the current owner of one won't it go for less than 3x-4x what I sold it for, and the other, I have nfc where it is...

 

I didn't factor in resale value when I bought my truck. As long as it has value, I'll keep driving it. I'll stop driving it when its a run down piece of crap that's has a resale value of $0.

 

The best value a vehicle can possibly have is "NO RECURRING MONTHLY PAYMENTS".

That type of vehicle will always be more valuable than any other.

 

A vehicle is not an investment. It is a depreciating asset. Anyone thinking they'll get their money back is delusional.

 

I will never understand how people do not get this…

 

Can we let this thread die already lol

 

I mean, we coulda, but you just bumped it again.