Author Topic: Sold my car and...  (Read 3354 times)

poetdereves

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Sold my car and...
« on: August 25, 2018, 07:50:08 PM »
After a lot of back and forth, my wife and I are officially a ONE CAR FAMILY. I never thought I would say that, but man, was it the right choice. We have had a 2009 Corolla and a 1996 Tacoma for a long, long time. She got the car new and vowed that we would have it until it died. I loved my Tacoma and always found ways to justify having it. It carries a lot, it has a manual transmission, it is cheap on insurance, etc. It seemed smart to keep because I kayak, bike, camp, fish, go into the woods, and carry building materials on a fairly consistent basis. A few months ago my wife got a job working from home, so all of my justifications went out the window. Fast forward to this week.

Old 4x4 trucks hold their value pretty well because the newer ones are so unrealistically gigantic. Having a small, usable pickup that isn't covered in fresh paint, chrome, and leather is something that is getting harder and harder to find because almost no one builds them anymore and the older ones are getting higher and higher mileage. Knowing this, I decided to list it for $1,000 more than I paid for it over 50,000 miles ago. In only 36 MINUTES I got a call, a guy stopped by, and took it off my hands. As quickly as I decided to finally list it, it was gone. Freak-out commenced.

So what about all of the things I carry?! What about the hobbies I love?! What about all the dirty, wet, muddy stuff I throw in the bed of the truck!?

Well, my wife and I knew that we still needed to find ways to haul our gear and building equipment. The compromise that we made was that since we knew we would be keeping the Corolla until the wheels fall off we would take a small part of that money from the sale of my truck and purchase racks to go on the car so that we could still move stuff. I also took the time to build some stuff in the trunk to haul my dirty stuff without wrecking the interior.

Man, it has made all the difference! In the picture I attached you can see that I can carry both kayaks, two bikes, a trunk full of camping gear and food, two dogs in the backseat (they couldn't fit in my truck), and still get over 30+ MPG!! Not only that, but we made thousands of dollars selling the truck that is now sitting in investments. And that is not all! We shopped around for insurance on the same weekend and are now saving nearly $80 a month on insurance and gasoline that we put in the truck. That is $80 a month, forever!

If you can't tell, I am happy. I even find pride in showing up to the trail or river with my small car hauling more gear than the full size pickups filling the trail head. I never thought I would be this guy, but in hindsight having a truck is completely overrated. The racks and hitches available on any model car out today makes trucks completely unnecessary. I am a little car convert.

Simpleton

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Re: Sold my car and...
« Reply #1 on: August 25, 2018, 08:16:38 PM »
That's really awesome. Great job

marty998

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Re: Sold my car and...
« Reply #2 on: August 25, 2018, 09:26:03 PM »
It's nice to see someone trying to act in accordance with the MMM principles for a change.

Examples like this have been few and far between lately :)

poetdereves

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Re: Sold my car and...
« Reply #3 on: August 25, 2018, 09:31:02 PM »
It's nice to see someone trying to act in accordance with the MMM principles for a change.

Examples like this have been few and far between lately :)

I've noticed this too. I don't have as much time to read the forums as I have in the past, but just browsing a couple posts today I read people suggesting leasing a sportscar instead of buying one, or complenting people because their suv loan was ONLY around $20,000 and wasn't European...

marty998

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Re: Sold my car and...
« Reply #4 on: August 25, 2018, 09:34:05 PM »
No way? leasing a sports car here?

Holy fuck.

poetdereves

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Re: Sold my car and...
« Reply #5 on: August 25, 2018, 10:04:19 PM »
The anti mustachian wall of shame and comedy will soon be filled with links to articles on its own forum...

Trifle

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Re: Sold my car and...
« Reply #6 on: August 26, 2018, 05:16:14 AM »
This is awesome @poetdereves!  Great job and thanks for this post.

We have a truck we use for farm and construction work, but I needed this post to think outside the box on whether we could make some other vehicle work for our needs.  That decision point is coming soon, as the old truck is on its last legs.
 

 

RWD

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Re: Sold my car and...
« Reply #7 on: August 26, 2018, 06:45:40 AM »
Congrats! That is some great utilization of a small car. Nice save on the insurance too. I remember the last time we had to shop around for car insurance I more than halved our bill!


No way? leasing a sports car here?

Holy fuck.
To be fair to the person who suggested that they presented it as a last-resort option to a passing fad (i.e. get it out of your system for a few years) and not as a financially reasonable decision.

I'll also say (about the same thread) that of the people "suggesting" buying a Corvette were pointing out how silly it is to spend $60k on a Camaro when you can buy the more prestigious and better performing Corvette for the same money or significantly cheaper. I don't feel like any of them (myself included) were saying that it was something that the original poster should actually go through with.

poetdereves

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Re: Sold my car and...
« Reply #8 on: August 26, 2018, 06:52:42 AM »
You're right RWD. She was just looking for help in a rough situation. That was just one of the posts that stuck in my head.

We shop around quite a bit for insurance. My wife feels zero loyalty to insurance companies (which I am thankful for), so every six months or so she will call around and see. Geico had everyone beat for a long time, but our local credit union actually had the best deals this time around.

RWD

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Re: Sold my car and...
« Reply #9 on: August 26, 2018, 09:00:42 AM »
You're right RWD. She was just looking for help in a rough situation. That was just one of the posts that stuck in my head.
I don't mean to be overly defensive though. I've certainly seen plenty of posts on this forum justifying wasteful spending just because "they can afford it". Striving for maximum happiness per dollar should be more important and as you've shown with downsizing to one car sometimes less is more!

DreamFIRE

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Re: Sold my car and...
« Reply #10 on: August 26, 2018, 09:17:59 AM »

Congrats on discovering roof racks and bike racks.  I've had a bike rack for years - comes in pretty handy.

Quote
The racks and hitches available on any model car out today makes trucks completely unnecessary.

I wouldn't go that far.  There are still uses for trucks that a car with racks and hitches won't substitute for.

poetdereves

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Re: Sold my car and...
« Reply #11 on: August 26, 2018, 09:30:27 AM »


I wouldn't go that far.  There are still uses for trucks that a car with racks and hitches won't substitute for.

You're right. They aren't completely unnecessary like I stated above, but for suburban, commuting people like me (which I assume is a majority of readers) there are better options 99% of the time.

I will use my situation as an example. I put a hitch on my Corolla so that I could have the option of a trailer and tow 1500 lbs. Is that enough for a company contractor? Probably not. But, is it enough for any building project on my own property? 100%. I could even tow enough to build an entire room addition on my home with just a couple of trips.

And for all of the times I can't get it in my car or on a small trailer? Home Depot rents full size trucks for $25 a day. That means with just the savings on having no insurance on my truck I could rent a truck almost once a week without ever even touching the thousands I made by selling it or any of the investment income it will continue to make me.

Therefore, in my situation, and probably 90+% of other readers, a truck isn't worth it. Like you said, there are things you can't do without a truck, but that doesn't mean I need to own said truck. Home Depot/u haul/Enterprise can eat all the depreciation and maintenance for me and I will use it if I need it. If I ever do.

csr

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Re: Sold my car and...
« Reply #12 on: August 26, 2018, 05:33:40 PM »
Nice setup!

DreamFIRE

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Re: Sold my car and...
« Reply #13 on: August 26, 2018, 06:13:47 PM »
You're right. They aren't completely unnecessary like I stated above, but for suburban, commuting people like me (which I assume is a majority of readers) there are better options 99% of the time.

I will use my situation as an example. I put a hitch on my Corolla so that I could have the option of a trailer and tow 1500 lbs. Is that enough for a company contractor? Probably not. But, is it enough for any building project on my own property? 100%. I could even tow enough to build an entire room addition on my home with just a couple of trips.

And for all of the times I can't get it in my car or on a small trailer? Home Depot rents full size trucks for $25 a day.

I don't have a truck, either.  I used to have one, over 20 years ago.  These days, I just have things delivered or have someone with a truck assist me.  It's cheaper that way.  The trailer idea is good, but I don't particularly want one of those in my driveway or lawn as an eyesore or to get stolen or taking up space in my garage, but on a temporary basis for a home project or otherwise needing to make multiple trips with the trailer in the short term, it would be fine.  Home Depot is about 1 1/2 hour drive for me.

eostache

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Re: Sold my car and...
« Reply #14 on: August 26, 2018, 08:57:03 PM »
What did you sell the Tacoma for, if I may ask?
We have a 1996 Tacoma (xcab, 4x4, stick shift) with a mere 160,000 on it.
Not thinking of selling it but wondering it is still close to being worth what we paid for it 10 years ago ($6400).
I'm in Colorado. We use the truck for backcountry excursions, camping, etc.

We ride our bikes most days so the truck and my 2001 Subaru Outback only get a few thousand miles per year put on them. (The Outback runs well, reliable, but has very low resale value due to bad paint and tricky transmission). I do the "you know you're from Colorado if you have a $3000 bike on top of your $500 car" thing.

poetdereves

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Re: Sold my car and...
« Reply #15 on: August 26, 2018, 09:05:14 PM »
You could definitely get that much for it now. Mine was listed at $5,500 but had over 228k and a giant dent in the bed from a previous owner. Same specs as yours. I actually used to live in Colorado and that's where the truck saw most of it's use for camping and mountain trips. Before swapping to the Corolla I was also a part of the expensive gear, cheap car crew. Before my Tacoma I had an 80's Civic hatchback that I paid $1000 for and gave away for free when I was done. That's one club I hope to never leave.

inline five

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Re: Sold my car and...
« Reply #16 on: August 26, 2018, 11:42:41 PM »
You're right. They aren't completely unnecessary like I stated above, but for suburban, commuting people like me (which I assume is a majority of readers) there are better options 99% of the time.

I will use my situation as an example. I put a hitch on my Corolla so that I could have the option of a trailer and tow 1500 lbs. Is that enough for a company contractor? Probably not. But, is it enough for any building project on my own property? 100%. I could even tow enough to build an entire room addition on my home with just a couple of trips.

And for all of the times I can't get it in my car or on a small trailer? Home Depot rents full size trucks for $25 a day.

I don't have a truck, either.  I used to have one, over 20 years ago.  These days, I just have things delivered or have someone with a truck assist me.  It's cheaper that way.  The trailer idea is good, but I don't particularly want one of those in my driveway or lawn as an eyesore or to get stolen or taking up space in my garage, but on a temporary basis for a home project or otherwise needing to make multiple trips with the trailer in the short term, it would be fine.  Home Depot is about 1 1/2 hour drive for me.

You can get a 1,500 lb fold up 4'x8' trailer for around $400 that fits on a 3'x5' area. No brainer. Personally I much prefer a trailer over a pickup any day. Way easier to load and unload and you can fit more..

Slee_stack

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Re: Sold my car and...
« Reply #17 on: August 27, 2018, 09:46:45 AM »
Been 8 years since I had a truck.  It was a waste. That sink sold for pretty good money too back then.

I've been one of those guys showing up to trailheads with a station wagon, roof rack and bike rack for the last 6ish years.

The wagon even has a stick shift.  Watch out me!



We still have (2) vehicles though.  The wagon and a sedan.   I'd like to go to a single vehicle as well eventually.  As soon as I get fired (either way).

wageslave23

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Re: Sold my car and...
« Reply #18 on: August 27, 2018, 10:19:58 AM »
Just to play devils advocate... how much was having the second car costing you?  Its probably depreciating at ~200-300 a year, liability only insurance on a second vehicle ~300, if you are only using it minimally then the extra gas ~200?  I have no idea how accurate these estimates are but its always something to keep in mind when debating whether to keep a vehicle.  It probably stills works out in your favor but I would guess the savings are around $1000 a year.  I'm only pointing this out because I've considered buying an old beater truck as a second vehicle and didn't because the math didn't work out, but when considering the hassle of renting a truck its close.

Goldy

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Re: Sold my car and...
« Reply #19 on: August 27, 2018, 11:17:21 AM »
I’ve flirted with getting an older truck but I have found that I can do 99% of what I want to with my Subaru so the added cost and expense just doesn’t work out.  For the 1% of the time I need a larger vehicle that can tow 3500lbs I can rent a truck or pay a friend 50 bucks for an hour of their time. 


poetdereves

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Re: Sold my car and...
« Reply #20 on: August 27, 2018, 12:46:50 PM »
@wageslave23 We did do some pretty serious math. In the past couple years we have only used it around 3-5 times for situations that wouldn't have been possible in a car, so renting a truck and gas would have probably cost $300-500 over three ish years. We are saving right around $1,000 a year to have it gone, plus the money we made selling it that's now invested over the long term. Trust me, I loved the truck and would have swing the math in favor of keeping it if I could have, but I just couldn't find a way it was reasonable to keep. That doesn't even address the fact that it had to sit outside and rust because I didn't have any room to keep it covered or garaged.

driftwood

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Re: Sold my car and...
« Reply #21 on: August 27, 2018, 01:20:19 PM »
can we see a pic of what you did to the inside to protect it?

poetdereves

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Re: Sold my car and...
« Reply #22 on: August 27, 2018, 05:18:35 PM »
I will try to get some pics later when I am home. For the trunk I put a few milk crates that bungee to some tie down points that are built in. They are organized into different crates for climbing gear, bike gear, gym stuff, one for school books, one for tools, etc. The back seat has a waterproof dog hammock that connects to the headrest of the front seats and back seats. I leave it even when my dogs aren't in there so I can throw my muddy mountain bike shoes, my sweaty shirt after the gym, or my kayak paddle and life vest. You can Google dog hammock if you don't know what I am talking about.