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Started By
Message
Please teach me about current truck market (long post)
Posted on 1/1/23 at 8:46 pm
Posted on 1/1/23 at 8:46 pm
I have a 2017 tundra with 110,000 miles. It’s fine. Been happy with it for the most part. It’s paid for, and I look at it as a tool. I wash it once a year, drive it in the woods and throw dead animals in the back of it.
My son will be 16 in a year and a half. He’s a good kid, plays 3 sports, and makes all A’s. More importantly he does it all without playing travel anything. At minimum I’d say his friends families pay 5-10k per year when including team fees, tournaments, hotels, gas, etc. So his vehicle will practically have paid for itself.
My desire is to get him a nice truck that’s new/used with low miles so he can get through HS/college without having to worry about it. I’d probably make him make payments to me monthly for it.
Should I trade/sell my tundra and get a Tacoma and drive it for a year and a half which allows him to learn on it and then buy a new truck for me when he turns 16? Or should I teach him on my truck and get him a truck at 16?
Looking at the truck market now and hear all different things. I hear they’re hard to get and also that the market is crashing? This isn’t something I know much about so wanted to see what y’all thought. Tia
My son will be 16 in a year and a half. He’s a good kid, plays 3 sports, and makes all A’s. More importantly he does it all without playing travel anything. At minimum I’d say his friends families pay 5-10k per year when including team fees, tournaments, hotels, gas, etc. So his vehicle will practically have paid for itself.
My desire is to get him a nice truck that’s new/used with low miles so he can get through HS/college without having to worry about it. I’d probably make him make payments to me monthly for it.
Should I trade/sell my tundra and get a Tacoma and drive it for a year and a half which allows him to learn on it and then buy a new truck for me when he turns 16? Or should I teach him on my truck and get him a truck at 16?
Looking at the truck market now and hear all different things. I hear they’re hard to get and also that the market is crashing? This isn’t something I know much about so wanted to see what y’all thought. Tia
19
Posted on 1/1/23 at 8:59 pm to PT24-7
You have one of the most reliable trucks you can own, it's paid off and still have easily another 125k to go. Definitely don't sell it.
Posted on 1/1/23 at 9:01 pm to GREENHEAD22
Kinda what my instincts are as well. Any clue what a Tacoma type vehicle will be when it’s closer to time?
Posted on 1/1/23 at 9:06 pm to PT24-7
Insurance would be a deciding factor for me.
The newer the vehicle, the higher the insurance is going to cost, like it is for all of us just with a much higher multiple. A 16 yr old with a 2023 model truck and full coverage, depending on the carrier, probably looking at over $500/mth. Good grades and credit help but it will still get you second guessing the decision.
I’d buy a <$10,000 clunker. Let him learn how to jack knife a boat trailer on it (like I did at 17), change oil, fix hub bearing/belts/alternator, and then upgrade him for college/trade school at the end of his senior year when he really needs a reliable ride for longer commutes and he is a more experienced driver. Just my 2 cents
The newer the vehicle, the higher the insurance is going to cost, like it is for all of us just with a much higher multiple. A 16 yr old with a 2023 model truck and full coverage, depending on the carrier, probably looking at over $500/mth. Good grades and credit help but it will still get you second guessing the decision.
I’d buy a <$10,000 clunker. Let him learn how to jack knife a boat trailer on it (like I did at 17), change oil, fix hub bearing/belts/alternator, and then upgrade him for college/trade school at the end of his senior year when he really needs a reliable ride for longer commutes and he is a more experienced driver. Just my 2 cents
Posted on 1/1/23 at 9:08 pm to PT24-7
You get the new truck. He gets your reliable used one.
Win for everyone.
Win for everyone.
Posted on 1/1/23 at 9:09 pm to Sus-Scrofa
This was the plan but I think my tundra might be too big for him…
Posted on 1/1/23 at 9:10 pm to good_2_geaux
I like the clunker idea but everyone tells me the days of getting anything half decent at that price are over.
Posted on 1/1/23 at 9:15 pm to PT24-7
Keep your truck. When he’s ready, buy him a 10ish year old truck.
Posted on 1/1/23 at 9:49 pm to PT24-7
Also look at the Frontiers as well besides the Tacoma. Great and underrated trucks.
Posted on 1/1/23 at 10:13 pm to PT24-7
There are lots of variables that can change in 1.5 years. I would defer and re-evaluate cloder to his birthday.
Posted on 1/1/23 at 10:23 pm to GREENHEAD22
quote:
Also look at the Frontiers as well besides the Tacoma. Great and underrated trucks.
Bought our son a used 2008 Frontier in 2015 for our high school aged son. He's 24 now and still driving it with almost no issues at 250k miles, except for that damn camshaft sensor that needs replacing every 1-2 years.
This post was edited on 1/1/23 at 10:27 pm
Posted on 1/1/23 at 10:46 pm to PT24-7
Let him learn on your Tundra. Put any $ into updating it: nice stereo, rims/tires, leather seats, wench/bumper, paint job (if needed). He will have a reliable nice vehicle and you and he can pick the upgrades, maybe even do some work if you can turn a wrench.
Posted on 1/2/23 at 6:46 am to PT24-7
I made both my boys work to earn a portion of their vehicle but I bought my daughter her car outright. The biggest reason was because of her responsibility level vs theirs. She made straight A’s and stayed out of trouble. My boys, well they were teenage boys!
For my oldest, I had an older F150 that was clean and in excellent mechanical shape. Once he earned about 40-50 percent of the value, it became his truck. My youngest raced dirt bikes and we traveled the country racing, so I bought an older van when he was 15 for us to travel with. We could put two bikes and everything we needed in the back and go anywhere in America. He had saved about $5000 working for me. when he got the keys to the van we put the cash in a safe for when he decided to make a change.
When he turned 18, we bought him a nice GMC pickup. It had a little age on it but had very low miles. He’s 22 now and still has the truck.
I handled each kids situation differently and I believe all 3 learned something from it.
For my oldest, I had an older F150 that was clean and in excellent mechanical shape. Once he earned about 40-50 percent of the value, it became his truck. My youngest raced dirt bikes and we traveled the country racing, so I bought an older van when he was 15 for us to travel with. We could put two bikes and everything we needed in the back and go anywhere in America. He had saved about $5000 working for me. when he got the keys to the van we put the cash in a safe for when he decided to make a change.
When he turned 18, we bought him a nice GMC pickup. It had a little age on it but had very low miles. He’s 22 now and still has the truck.
I handled each kids situation differently and I believe all 3 learned something from it.
Posted on 1/2/23 at 6:50 am to PT24-7
Prices are dropping and within 6-9 months there will probably be a significant drop in vehicle prices, especially used.
People are defaulting on car loans at one of the highest rates in history as inflation takes a toll. Banks have loaned stupid amounts of money (well over a vehicle’s value) to people who should not have received those loans. With the recent 1.7 trillion omnibus just passed, inflation will get worse, interest rates will go up more and many shoppers will take themselves out of the market.
The tide is changing and I believe you can get a good reliable used vehicle at a very good price if you can wait a few months.
Would keep the Tundra for yourself or your kid. If you think it is too big for him then you use it and get him a 10 year old truck in the future. I drive a 2010 F-150 with 252,000 miles and would head out across country in it today.
As some have stated, his insurance will be brutal on a new vehicle.
Good luck!
People are defaulting on car loans at one of the highest rates in history as inflation takes a toll. Banks have loaned stupid amounts of money (well over a vehicle’s value) to people who should not have received those loans. With the recent 1.7 trillion omnibus just passed, inflation will get worse, interest rates will go up more and many shoppers will take themselves out of the market.
The tide is changing and I believe you can get a good reliable used vehicle at a very good price if you can wait a few months.
Would keep the Tundra for yourself or your kid. If you think it is too big for him then you use it and get him a 10 year old truck in the future. I drive a 2010 F-150 with 252,000 miles and would head out across country in it today.
As some have stated, his insurance will be brutal on a new vehicle.
Good luck!
Posted on 1/2/23 at 7:47 am to SpookeyTiger
Great advice. Thank you
Posted on 1/2/23 at 7:55 am to PT24-7
Lie down till this new truck feeling goes away.
You're welcome..
You're welcome..
Posted on 1/2/23 at 9:07 am to PT24-7
I think everyone else covered my thoughts.
Personally, I'd wait the year. Truck prices are still stupid inflated right now. You might be able to give the kid the same truck plus 3yrs of insurance at this point next year.
Personally, I'd wait the year. Truck prices are still stupid inflated right now. You might be able to give the kid the same truck plus 3yrs of insurance at this point next year.
Posted on 1/2/23 at 9:14 am to PT24-7
Buy him a single cab when in highschool. What gets any teenager in trouble when driving is idiot passengers. Limit his ability to carry all his friends you can’t control.
I’d buy an older car starting out and upgrade later if he earns it.
I’d buy an older car starting out and upgrade later if he earns it.
Posted on 1/2/23 at 9:41 am to PT24-7
My daughter got my wife’s old car 2010 Acura MDX and my son got my old truck 2012 Sequoia
I called the insurance company and talked to them. Asked if it would be better to get a new car or give them the old car. They told us that we had already paid so much on insurance that it would be cheaper for the kids to get our old cars.
So, call your insurance company and see what they say before you decide.
I called the insurance company and talked to them. Asked if it would be better to get a new car or give them the old car. They told us that we had already paid so much on insurance that it would be cheaper for the kids to get our old cars.
So, call your insurance company and see what they say before you decide.
Posted on 1/2/23 at 9:50 am to good_2_geaux
quote:All of this.
I’d buy a <$10,000 clunker. Let him learn how to jack knife a boat trailer on it (like I did at 17), change oil, fix hub bearing/belts/alternator, and then upgrade him for college/trade school at the end of his senior year when he really needs a reliable ride for longer commutes and he is a more experienced driver. Just my 2 cents
And since the long term vehicle will be given to an adult, might as well go full size. He likely will have it 10 years.
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