Well the truck is a 2014 model that i bought used with 14k miles for 25k (sticker new was 42k) so i already let someone else take the 40% hit. As far as the atv loan it is for 2 atv's, mine and the wifes. Also purchased used for $11k, new they are about 18k so again i already let someone else take the hit in the beginning.
You didn't let anyone else take the hit for you. You took the hit. The items you bought had "equity" in them, but you still paid (and are paying) for them. Whenever you hear someone say "but I saved $X by spending $Y" it usually means they just spent $Y.
It sounds like you're trying to justify your purchases to us. To which, I don't think you need to do. If you need to justify it to yourself, I think you have the answer. If you don't need to justify it to yourself, don't bother explaining it to us. You have nothing to prove to us.
If it were me, I wouldn't own that stuff. I see plenty of clients that "have to have" the ATV. Usually they are people in financial distress (not saying you're one, just that there is a odd correlation between ATV owners and financially distressed people, for whatever reason that is). And if you have loans against them, that's bad news bears to me. It can blow up or break at any time. If I had to have an ATV, I'd get a cheap used one and pay cash. But that's me. I also don't need a $42k truck to haul ATVs around in. I have a truck for my side business, and it's a 2003 Ranger with 179k miles on it. Drives great. Paid for. Hauls my trailers just fine. If you're so good at flipping cars and trucks, flip YOUR truck.
That being said, assuming you don't want to hear about getting rid of the truck or the ATVs, I'm not a fan of getting rid of car loans like most people on here. They are very low interest loans, so by investing the money you are beating the market. I wouldn't have a problem putting your cash into something a little more illiquid, like stocks. 7% after inflation returns is tough to say no to. Or you can get stocks that return 5% dividends pretty easy. Might take a week to get the money out though. Or you could go with betterment, which would take you about 3 days to get the money out (I think).
If you aren't ok with either of those, think about what you're losing by holding onto that cash and "waiting for the deal." By my estimate, assuming $33k in debt at 3%, that's (roughly) $990 in a year (less, as you'repaying it down, but you get the idea). Plus, you miss out on investing that $33k in cash (lost opportunity of 7% after inflation market average [18% YTD currently]), or about $2,310 in earnings. Plus, that cash is depreciating in value from inflation. At about 3% per year, or another $990. So, if you have $33k in debt and $33k in cash, you're losing $1,980 per year AND missing out on an opportunity to make another $2,310, or $4,290 total "loss."
So, you can:
a. Keep the debt and keep the cash. Your $33k in cash will be "worth" $31,020 in a year. Or almost a $2k loss.
b. Keep the debt and invest the cash. Your $33k would be "worth" about $34,320. Or almost a $1,300 gain.
c. Lose the debt. You'll be about the same as you are now.
Whichever you feel more comfortable with. If you think you can do better than $4,300 in the next year by holding onto the cash and waiting for a deal, roll the dice and live a happy life. If not, invest and start worrying about something else.
