No need for something new.

I purchased my Tundra SR5 in 2000 and still love it as much as I did the first time I drove it. I couldn't dream of ever selling it because its worth would never match my feelings for it. An inanimate object sometimes just doesn't feel like it.

 

Think of it this way... at today's prices, a paid off truck is worth about $1000 a month that can be put into savings or paying off the home. So that old truck is actually worth quite a bit, especially if it's well maintained and reliable.

 

Welcome from LA (Lower Alabama)!

 

Only a fool would have a $1K vehicle payment.

Congrats @Wicket
If it ain't broke, don't fix it.
Welcome to the forum..

 

I am approaching retirement in a couple of years and my wife encouraged me to buy a new Tundra for the next season of life. After thinking about it, I decided to keep my ‘05 DC 4x4 for the long haul and invest in it. Love this truck!

Although only 97k miles, I wanted to refurbish it as if new: front end rebuild with OEM parts, timing belt kit, alternator, front wheel bearings, all belts and hoses, Powerbrake kit, Icon 2.5 coilovers and rears, radiator, full tune-up, Eibach UCA’s (SPC’s—thanks, Shifty), new rear drums/shoes, stainless steel brake lines, all fluids changed, new OEM headlights, Diode Dynamic fog lights, Katzkins with seat heaters, Hellwig rear sway bar, and more.

My retirement gift to myself was to spend $10k refurbishing my ‘05 instead of $70k on a new one. Couldn’t be happier!

 

Welcome from NY.

 

Welcome from OKC! You definitely have an awesome truck!

 

Not saying that, necessarily. If one has the means and wants or needs a new truck, by all means get one. No judgement here (I've wasted plenty of money on new vehicles in my life, and will likely do it again). Was just pointing out when people think their existing vehicle isn't worth much, perhaps it isn't on paper as a trade value, but when you look at it from a personal finance perspective it's probably worth more than one thinks.

 

Wants and needs are entirely 2 different things.
That's one of the problems of modern society, they don't know the difference.

If one has the means, $1K a month for a loan term (and paying interest on that loan) is foolish.
What's good on paper is a paid for vehicle.

Am I judgemental?
Yup, that's part of the goodness of me.
I've probably wasted more money on new vehicles in my lifetime than you have, but I'd rather preach some sense to others to not make the same mistakes I made.

 

Welcome from So Cal.

 

I BOUGHT my 2010 new and even with 88,000 miles on it, I'd BUY the same truck today over the nannie- infested techno sleds of today!

 

Welcome... I bought 2016 a few years ago.. and it still has a high value... I refuse to move up.. I think the new gen tundra is ugly in body style and some other things going on.. I will drive my 16 til I die literally.. then gift to my son... Because as long as I take care of the way I am suppose to I am good with what I got..