The Money Mustache Community

General Discussion => Share Your Badassity => Topic started by: RoostKing on May 03, 2017, 09:29:33 AM

Title: Ride the bus to work and lowered my budget for a new used truck
Post by: RoostKing on May 03, 2017, 09:29:33 AM
My new job gives free express bus and light rail passes, so instead of driving into work every day ~70 miles round trip, I take the express route bus 4 days a week(Picks me up at a park and ride, then makes 2 stops before getting me to work), and drive my bad ass HEMI Challenger to work on Fridays(Still have to live a little lol). Overall, this is going to save me at least $2600 in gas and parking a year, not to mention the wear and tear on my vehicles. So lets put that # at $3,000 saved for riding the bus.

As for the truck. Well, I have a Ford Ranger that I bought new in 2001 and it has served me beyond my hopes for sure, but its time to move on and get something a bit larger. I originally had a budget of $30,000 for a used 1/2 ton truck with low miles, but since I am only driving about 12 miles a day instead of 70ish, I figure a higher mileage/cheaper truck would suffice, so my budget has been lowered to about $15,000 that I could possibly pay cash for.

Winning!

Title: Re: Ride the bus to work and lowered my budget for a new used truck
Post by: nouveauRiche on May 03, 2017, 10:39:27 AM
The free transportation passes are a great work bonus.  It's great you're taking advantage of them.

Since this is MMM, though, I have to ask if you really need a truck....

http://www.mrmoneymustache.com/2015/04/28/what-does-your-work-truck-say-about-you/

Title: Re: Ride the bus to work and lowered my budget for a new used truck
Post by: RoostKing on May 03, 2017, 01:42:16 PM
I do. My main hobby is riding 4 wheelers and sxs's and I need a truck to get by stuff to and from the camping site. Now I will say a bunch of my friends are just like that article describes. Must be lifted, new wheels, etc. Mine, will be stock, just like I kept my Ranger and will own it for many many years. Being MMM, my toys are also much older than most of my friends who have payments or $30,000 wrapped up into a toy. Not mine. Yea, $10,000 is quite a bit of money, but its a 2010 model and I have no plans to upgrade that anytime soon. So in short, im not quite living to  MMM potential, but I am certainly doing much better than most of my friends.

Too add. The reason I am upgrading anyway is because my transmission is going out and ive already put some about $2000 into a truck that might be worth $3500 so I need to get out of it before it does go. A $5,000 truck just isnt going to cut it for the distances we sometimes travel to ride.
Title: Re: Ride the bus to work and lowered my budget for a new used truck
Post by: nouveauRiche on May 04, 2017, 04:28:06 PM
All that sounds reasonable.

I'll even go so far as to concede that we are not 100% mustachian either.  We could certainly improve driving, groceries, laundry, etc.

Rock on.
Title: Re: Ride the bus to work and lowered my budget for a new used truck
Post by: human on May 04, 2017, 04:32:30 PM
I was going to criticize having so many toys but then reminded myself I spent 10k on travel last year. If the challenger isn't paid off and you are driving the truck to the park and ride you may want to consider the challenger for cheaper insurance, payments etc. but we all have our vices I suppose.
Title: Re: Ride the bus to work and lowered my budget for a new used truck
Post by: RoostKing on May 08, 2017, 01:42:19 PM
Yea, I do need to cuto down on the toys to the RZR and one quad. Currently getting one quad cleaned up and serviced and will be sold soon. The Challenger is paid off. I have started to re-think the camper. I am thinking just get a bigger tent and go from there.

On another note, I have taken the steps to get (2) previous 401K's converted to Vanguard.
Title: Re: Ride the bus to work and lowered my budget for a new used truck
Post by: nouveauRiche on May 08, 2017, 02:16:49 PM
On another note, I have taken the steps to get (2) previous 401K's converted to Vanguard.

I did that many years ago - moved three or four small, old 401ks into one Vanguard IRA.  There was some hassle involved & it seemed to take forever to get the money transferred but totally worth it.  Now all my equity investments are in Vanguard.  So much nicer.
Title: Re: Ride the bus to work and lowered my budget for a new used truck
Post by: Monkey Uncle on May 14, 2017, 04:37:59 AM
I do. My main hobby is riding 4 wheelers and sxs's and I need a truck to get by stuff to and from the camping site. Now I will say a bunch of my friends are just like that article describes. Must be lifted, new wheels, etc. Mine, will be stock, just like I kept my Ranger and will own it for many many years. Being MMM, my toys are also much older than most of my friends who have payments or $30,000 wrapped up into a toy. Not mine. Yea, $10,000 is quite a bit of money, but its a 2010 model and I have no plans to upgrade that anytime soon. So in short, im not quite living to  MMM potential, but I am certainly doing much better than most of my friends.

Too add. The reason I am upgrading anyway is because my transmission is going out and ive already put some about $2000 into a truck that might be worth $3500 so I need to get out of it before it does go. A $5,000 truck just isnt going to cut it for the distances we sometimes travel to ride.

If the body/frame/axles/differential(s) are still good on your Ranger, you could replace the engine and transmission for less than your $15k "new" used truck budget, and it probably would last a lot longer since you would be starting over at 0 miles on the parts that matter.  Same thing for the $5k truck - check out Craigslist and see what you can find that still has a good body/chassis.  Even if you have to replace the entire drive train, your all-in cost probably won't break $15k, and you'll essentially have a new truck instead of a 10 year old truck with over 100k miles on the drive train (which is probably what you'll find for $15k).
Title: Re: Ride the bus to work and lowered my budget for a new used truck
Post by: Goldielocks on May 15, 2017, 10:32:44 AM
Just saw this thread.   It is a little funny (ironic?) to read that the response to:
"Do you even need a truck?"...  [a good, strong MMM challenge.]... had the answer of "yes"...

I do. My main hobby is riding 4 wheelers and sxs's and I need a truck to get by stuff to and from the camping site.

..Not because no one in MMM has a fancy expensive hobby, it is funny because the sole justification for having a possibly non-MMM vehicle was a fancy expensive hobby.... on an MMM forum, and for it to then not to have 3 pages of face punches....!   LOL we are getting soft.

So -- did I read that right.  OP has:

1. old truck, to drive partway to work where he picks up the free express pass.  And this exceptionally old truck that he is about to buy is $15k.  ($15K  for a vehicle is not really "old").

2.  That he needs the"old" truck because he loves to spend money on 4 wheeling in the bush with his family, ...

3.....where he joins his very flashy spendy friends who will influence his decisions on what is "old", and cause him to have a mindset shift that triggers more spending.   (See "Millionaire Mind"... you want your spend level to be at the top of your chosen group of friends, or you tend to spend a lot more money yourself, even if you are more frugal).

4... meanwhile has a very nice, possibly very expensive truck with a HEMI, that he drives once a week only (to save money), and owns it because you need to "live a little".     

Dude -- do you really have an expensive truck for fun / show, that you can't use for your 4 wheel hobby, so you want to buy another $15k truck in order to lavish money on your 4x4 hobby?

------------------------------------

OP -- in all sincerity, good job on leveraging the free transit options with your employer, this is a huge step in the positive / low impact / low cost direction.  One that becomes part of your habitual life.  Controlling costs associated to where you live, what (and where) you drive, and then food are the big three for our budgets and savings.

MMM Forum -- wake up!
Title: Re: Ride the bus to work and lowered my budget for a new used truck
Post by: COEE on May 22, 2017, 09:14:04 AM
I calculate that you save about $6400 a year just in wear and tear - .  In about 2 years you'll be able to afford that truck that is $30k today!  This doesn't count your parking savings or depreciation (15k less miles on the HEMI!)

$0.53/mile * (70 - 12) miles/day * 4 days/wk * 52 wk/yr = $6393.92/yr.  Note that your 1 day drive per week is costing you about $1500/yr.

I've been interviewing with a couple companies in towns about 15 miles from my home, and I think I'm going to make it a point to negotiate at least a larger salary for the bus pass - it's about $1k/yr.  Then my travel to/from work is $FREE.99!
Title: Re: Ride the bus to work and lowered my budget for a new used truck
Post by: hoping2retire35 on May 26, 2017, 12:51:19 PM
I agree with others. Lots of cheaper options, much less than $15k, if you can strategize a little.

if it is just a toy, why not?
(https://s14-eu5.ixquick.com/cgi-bin/serveimage?url=http%3A%2F%2Fwww.autobahnslc.com%2Fassets%2Ffrd-f100-1966-grn%2Ffrd-f100-1966-grn-103.jpg&sp=ed65088d9ff5e0771c8662e02a7db8bd)