Who's buying a vehicle before the Fed increases interest rates more?

[Laramie]

I still have a 2007 Tundra with 130k miles, I know it's time to get a new truck but the 2023 will cost me around 63k... I don't mind buying used but a 2021 Tundra is basically the same as my 2007. I'm not sure what to do.

I was in that boat a 12 years ago and decided to buy "new". I actually bought a previous years model that was still on the lot with 12k in rebates. I have been trading in every 2-3 years since and buying those older still on the lot new vehicles with the rebates. I average about 3k per year total to drive new by doing this. As long as I can keep it going, I feel like it is a pretty good deal to stay in a new truck. I only put about 10k miles per year so when I trade, I get a premium.

 

[Billogna]

I still have a 2007 Tundra with 130k miles, I know it's time to get a new truck but the 2023 will cost me around 63k... I don't mind buying used but a 2021 Tundra is basically the same as my 2007. I'm not sure what to do.

That 07 is a strong truck!! 07-08 were good years on those - overbuilt as Toyota had something to prove in the US truck market. 130k is about halfway to being "done" IMO. Thats actually one of the used trucks that's on my radar!!

 

[Michigander]

I just bought a 2020 Tacoma this week. I figure inflation is just going to get worse with the fed and administrations current strategy. I didn't borrow but interest rates are only going to get worse too.

I needed an upgrade from my '02 VW Jetta. Still a cheap reliable vehicle but far from an ideal hunting rig.

 

[CorbLand]

I still have a 2007 Tundra with 130k miles, I know it's time to get a new truck but the 2023 will cost me around 63k... I don't mind buying used but a 2021 Tundra is basically the same as my 2007. I'm not sure what to do.

You should be able to get another 70-100 on that with general maintenance.

 

[philos]

Agree with Corbland here. I am buying a vehicle soon but I have a 2005 Tundra with 339K in miles and no issues at all. Still my daily driver

 

[Szwampdonkey]

Driving my truck another 10 years at least. It’s only a 2016.

 

[ElDiablito]

I buy used Toyotas with cash. Best way to go IMO.

 

[Hun10-freak]

You should be able to get another 70-100 on that with general maintenance.

I know she has a lot of miles left but the value is starting to drop. I can get around 18k where I live.

 

[CorbLand]

I know she has a lot of miles left but the value is starting to drop. I can get around 18k where I live.

What will it cost you to replace vs the value it’s going to drop in the next 100,000?

 

[Schism]

I bought a new Dodge pickup in early 2009. With the financial situation many in the country found themselves, Chrysler Financial was looking to improve their balance sheet and were needing to give loans to those with good credit. I had good credit and by taking a 0% loan from Chrysler Financial they added another $1000 in rebates.

Some say we are approaching another tough time financially. If that's the case, there may be financing deals to be had for those with good credit.

 

[pirogue]

If you’re looking to get a Toyota, go ahead and put a deposit on one and it should be here around 2035

I thought this when Obama did the cash for clunkers. I am a 33 year dodge tech.

The best result of the cash to clunkers program was, it removed all the Obama bumper stickers off the roads.

 

[ToolMann]

We're buying in the next month or 2. My wife's vehicle just turned 175K. You can still get good rates on short loans if you can swing the payment.