Author Topic: Time to buy a vehicle  (Read 773 times)

Bumbles8

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Time to buy a vehicle
« on: January 18, 2018, 05:19:50 PM »
I need some advice but also some sense talked into me.

Little background:  I had a '99 chevy Silverado with 215k miles but wrecked it right before the turn of the year (single car accident, totally my fault, I'm fine).  Drove it home and drove it until got insurance straightened out - but once the body shop started working it quickly got totaled. 

So, I'll be getting ~$4,600 from the insurance company.  (Yes, I was over-insured, but it paid off)

Time to buy a new-to-me car.  And that is where YOU come in.  I need your opinions and advice.  And I just need some mustachian folks on my side because everyone else is saying "buy something nice, you deserve it", etc.

Needs:  1) tow a boat - non-negotiable - main hobby (so truck, SUV, van) - 20 foot bass boat - so not a little boat to tow
2) reliable

So two options that I see (not saying there aren't more):  the price bracket of 10-12k, get a truck with ~100k miles and hope it works out for 7-10 years.  Or, spend 20k to get a 2-3 year old truck with 35-50k miles and drive it 10+ years

Financials:  salary:75k , investments: ~60k, age: 23, cash on hand: 5k
Goals: FIRE early (more than likely, take a year sabbatical multiple times along the way).  Also hesitant to take on debt, so I could quit my job easily and hike the AT (or something crazy)

Driving: currently 10 miles round trip to work (trying to get to biking)
More than likely will be moved locations for work within 2 years
Pull a boat through mountains and also long distances
Decent amount of highway driving to go on trips

What would you do?  What should I think about?

Drop your wisdom on a young guy making his first adult vehicle purchase

the_fixer

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Re: Time to buy a vehicle
« Reply #1 on: January 18, 2018, 07:06:07 PM »
What is the loaded weight of the trailer / boat and what part of the country are you in?

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lbmustache

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Re: Time to buy a vehicle
« Reply #2 on: January 18, 2018, 07:56:37 PM »
What is the loaded weight of the trailer / boat and what part of the country are you in?

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Yes, we need to know the weight. Big difference in options between 3500lbs and 5000lbs, etc.


Bumbles8

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Re: Time to buy a vehicle
« Reply #3 on: January 18, 2018, 08:19:23 PM »
I can come up with a better estimate tomorrow, but between 3,000 and 3500lb.  Dual axle trailer if that makes a difference.

I have pulled the boat 50k+ miles with my last truck - which was a stock 5.3L V8.  Nothing special with the truck - all stock

I live in appalachia country.  No huge mountains, but still, big time hills.

Thanks

Cole

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Re: Time to buy a vehicle
« Reply #4 on: January 19, 2018, 07:14:23 AM »
Just to start off the conversation:

I would avoid getting a truck due to the high cost of ownership (repairs, fuel, etc...)

You could get a Toyota Highlander with the TOW PACKAGE V6 (I looked at the 2008) which is rated to tow 5,000 lbs with the tow package. Without the tow package it is 2000 lbs though. It is rated according to the EPA at 18 city, 24 highway which would be substantially better than any truck of the era. Towing MPG is always crap.

Just because this is the MMM forums I feel that I should point out the best way to own a boat is to have a friend with a boat