Truck/Car Envy....How do You Deal with It?

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CdnAppraiser
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Truck/Car Envy....How do You Deal with It?

Post by CdnAppraiser » Fri Jan 17, 2014 4:50 pm

My only real vice is vehicles, I love them but thankfully I hate paying for them.

I'm a truck guy so when a new model comes out or I see business contacts driving newer and better trucks than me I get the itch. I drive an 07 Silverado that I bought used in 10 and it treats me good but I have had an itch to upgrade for 2.5 years. The only think that saves me is that I invest the potential monthly payment. I tell myself I have to wait 3 more years....I'm sure I'll have plenty of itches along the way. maybe I shouldn't watch Barrett Jackson Auctions...lol.

Then the debate will be new Toyota of used Domestic Truck. I say new Toyota because used ones are way over priced in Canada, cheaper to buy new and drive for 10 years (assuming I don't get an itch).

Mingus
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Re: Truck/Car Envy....How do You Deal with It?

Post by Mingus » Fri Jan 17, 2014 4:54 pm

You'll get over it eventually.

Eventually the hatred of payments car/truck payments will overwhelm how nice it is to be driving a fancy new truck.

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Re: Truck/Car Envy....How do You Deal with It?

Post by Grt2bOutdoors » Fri Jan 17, 2014 4:59 pm

Look up the threads on "How old is your car", "How long do you keep your car", "When do you know it's time to replace your car"?

The average on this board is in the "teens" - my car is going on 17+ years, knock wood. How do I deal with it? Simple - it takes me to/from, I have no payment, I pay myself instead of the bank/auto finance lender.
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Re: Truck/Car Envy....How do You Deal with It?

Post by livesoft » Fri Jan 17, 2014 5:00 pm

Prozac.
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Re: Truck/Car Envy....How do You Deal with It?

Post by surfstar » Fri Jan 17, 2014 5:01 pm

There will always be something newer. If you go out and buy the latest and greatest - that feeling only lasts a very short while and costs you far longer.

CdnAppraiser
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Re: Truck/Car Envy....How do You Deal with It?

Post by CdnAppraiser » Fri Jan 17, 2014 5:14 pm

Canadian winters kill vehicles (Salt on Roads). Not many vehicles live past 15 years, the body is usually shot.

But yah, the hatred of payments may be my only saviour.

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Watty
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Re: Truck/Car Envy....How do You Deal with It?

Post by Watty » Fri Jan 17, 2014 5:17 pm

Assuming that you can afford it then it is really about making the tradeoffs that are right for you.

It would be good to figure out that if you bought the new truck then it would cost you $xx,xxx.

Then figure out what that money could have been used for like;
1) If I invested $xx,xxx, then I could retire Y months or years early.
2) If I paid down my mortgage by $xx,xxx, then I could have it paid off Y months or years early.
3) If I spent $xx,xxx on a vacation then I could go to Europe or Hawaii, or both.

and so on.

In a lot of ways it is better to look what spending money on costs you in terms of other things instead of just looking at it in terms of a dollar amount.

Don't get yourself into trouble but just remember that are a lot of things you can do and places you can go in a ten year old truck that you might not want to with a new truck.

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Re: Truck/Car Envy....How do You Deal with It?

Post by DSInvestor » Fri Jan 17, 2014 5:22 pm

Don't think of a new vehicle as a monthly payment of $400 or whatever per month. Think of it as $20-50K (or more) to buy the vehicle. Then consider of the depreciation as soon as you drive off the lot.
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Re: Truck/Car Envy....How do You Deal with It?

Post by LadyGeek » Fri Jan 17, 2014 5:37 pm

This thread is now in the Personal Consumer Issues forum (how we spend our money).
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Re: Truck/Car Envy....How do You Deal with It?

Post by sport » Fri Jan 17, 2014 6:14 pm

There will always be other people who have newer and nicer vehicles than you. They will also have nicer homes, and make more money. Just get used to the idea that there are things you can afford, and there are things you cannot or should not be buying. Once that mindset is established, you just do not concern yourself with what others have. When my children were growing up, I told them that they could spend their money on anything they wanted. However, I also pointed out that they could only spend it once. Therefore, they learned to make choices.
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Re: Truck/Car Envy....How do You Deal with It?

Post by Caduceus » Fri Jan 17, 2014 6:15 pm

Is the desire directed toward driving them or owning them? If the former, would renting them for a spin every now and then help? Or perhaps it would make it even more difficult to resist the "envy"?

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Re: Truck/Car Envy....How do You Deal with It?

Post by leonard » Fri Jan 17, 2014 6:47 pm

Think of it as the tool that it is. It's a tool that gets you from A to B.

It's a bit like being envious of someone else's hammer or screwdriver.
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Clearly_Irrational
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Re: Truck/Car Envy....How do You Deal with It?

Post by Clearly_Irrational » Fri Jan 17, 2014 7:05 pm

Total cost of ownership. I mean by the time you add up payments, interest, depreciation and all that buying a new vehicle is just plain expensive. Unless you live in a heavy salt area you're better off driving your vehicle until the cost of repairs starts to ramp up significantly. Sure, there are times I'd like a spiffy new sportscar instead of my sensible coupe but then I remember that I haven't hit my retirement number yet and upgrading will just mean having to work longer.

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Dutch
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Re: Truck/Car Envy....How do You Deal with It?

Post by Dutch » Fri Jan 17, 2014 7:16 pm

That "new car feeling" disappears amazingly fast.

This always surprises me when I rent a car when traveling.

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Re: Truck/Car Envy....How do You Deal with It?

Post by YttriumNitrate » Fri Jan 17, 2014 7:25 pm

As the owner of a 20 year old 4 cylinder S10 truck, I got over my truck envy by realizing that 90%+ of those fancy new trucks are used by people who use them as commuter cars (or worse yet, a minivan in the shape of a crew cab truck). Many of those owners are afraid of scratching or dinging their trucks. It's kind of sad. The true rugged workhorses are the beat up old trucks.

I can tell you from experience that if you drive a S10 on the interstate while its leaf springs are maxed out with ~2000 lbs of bricks in the bed you get a lot of respect. Sure, you may be doing 10-15 miles under the speed limit, but nobody honks at you.

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Re: Truck/Car Envy....How do You Deal with It?

Post by jimb_fromATL » Fri Jan 17, 2014 8:06 pm

YttriumNitrate wrote:
I can tell you from experience that if you drive a S10 on the interstate while its leaf springs are maxed out with ~2000 lbs of bricks in the bed you get a lot of respect. Sure, you may be doing 10-15 miles under the speed limit, but nobody honks at you.
...although they may momentarily forget to use all of their fingers when they wave at you. :happy

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campy2010
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Re: Truck/Car Envy....How do You Deal with It?

Post by campy2010 » Fri Jan 17, 2014 8:16 pm

New road bikes. Expensive but cheaper than cars.

Also sales tax, comprehensive insurance, excise tax not to mention road salt, unsafe and/or careless drivers, and car payments keep me from upgrading my old car.

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Re: Truck/Car Envy....How do You Deal with It?

Post by abracadabra11 » Fri Jan 17, 2014 9:14 pm

By giving everyone else vacation envy.

I spend half on vacations what they do on their car, pocket the difference and the amazing experience.

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Re: Truck/Car Envy....How do You Deal with It?

Post by bottlecap » Fri Jan 17, 2014 9:34 pm

I'm partial to old things, so it's not much of a problem for me. However, this may help:

1. Wash and detail it;

2. Maybe buy new floor mats, a radio, speakers - whatever is important to you;

3. Remind yourself that you're smarter than people who buy the latest and greatest before the useful life of their old vehicle runs out.

Then relish in not having a car payment.

JT

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6miths
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Re: Truck/Car Envy....How do You Deal with It?

Post by 6miths » Fri Jan 17, 2014 9:43 pm

What cured me of having a really nice car and babying it like crazy? Children!
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Re: Truck/Car Envy....How do You Deal with It?

Post by Ged » Fri Jan 17, 2014 9:46 pm

Think about what you are going to eat in retirement. Rib eye or cat food.

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Re: Truck/Car Envy....How do You Deal with It?

Post by tylerdurden » Fri Jan 17, 2014 9:47 pm

How do I personally deal with it? Sometimes I cave and make poor financial decisions; I have a weak spot for cars. Only sometimes though... :moneybag
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Re: Truck/Car Envy....How do You Deal with It?

Post by johncunningham » Fri Jan 17, 2014 11:26 pm

As a former owner of a 1994 S10 pickup (which I sadly sold in 2004, when I got married and we only needed 1 car) I hear you. It was, and I imagine still is, one of the most practical cars ever made. That's beside the point though. In 2008, when we needed a second car again, I bought a bare bones subaru impreza. Paid cash. It was about 10% of our gross income that year. My wife would like a new car now. She drives an eight year old Chevy. It still has low miles and is in great shape. We decided we would wait until it is at least ten years old, or our net worth reaches 60 times the purchase price. Might seem like an arbitrary number, but it works for us.

John

As an afterthought, my brother still has his 1991 S10. No salt where he lives. I think he still drives it to work every day. Good Times.

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SteveNet
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Re: Truck/Car Envy....How do You Deal with It?

Post by SteveNet » Fri Jan 17, 2014 11:35 pm

I used to love cars... Then I worked for 30 yrs building cars.

They are machines, point A to point B, toasters on wheels.
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Mingus
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Re: Truck/Car Envy....How do You Deal with It?

Post by Mingus » Fri Jan 17, 2014 11:51 pm

Dutch wrote:That "new car feeling" disappears amazingly fast.

This always surprises me when I rent a car when traveling.
I bought a new car last February. Just recently I returned from a two week trip. Upon returning, and picking my car up from the offsite parking lot it was amazing how nice my car drove. Just like, almost, when I first drove it off the lot. Next day, about 50% the same feeling. Two days in, I made a mental note to myself that the feeling was gone as I drove off down the street out of my driveway. It's amazing how fast we acclimate.

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Re: Truck/Car Envy....How do You Deal with It?

Post by Bracket » Fri Jan 17, 2014 11:54 pm

I commit Boglehead blasphemy. I lease a new car every 4 years. What can I say, nobody's perfect.

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WallyBird
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Re: Truck/Car Envy....How do You Deal with It?

Post by WallyBird » Sat Jan 18, 2014 12:16 am

I've bought two new cars in my life. I'm fortunate to live in a big city where I can take transit. The car we bought new ten years ago now has 40k miles. It's paid for and reliable. Insurance is low, and I buy gas once a month or so, if that.

In other words, it's everything I want in a car. I may sometimes admire someone else's fancy wheels, but I envy nobody's. (I have other expensive hobbies that I try to keep under control.)

Of course, I'm me and you're you. It's a free country and you can buy whatever vehicle you want with your money.
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slow n steady
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Re: Truck/Car Envy....How do You Deal with It?

Post by slow n steady » Sat Jan 18, 2014 12:23 am

I actually scratched that particular itch today. Bought a 2 year old car off craigslist for half the price it was new. My car is 14 years old and I've had it for 9. I will probably sell it on craigslist.

I think it's just fine to upgrade once every 10 years or so.

poker27
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Re: Truck/Car Envy....How do You Deal with It?

Post by poker27 » Sat Jan 18, 2014 1:27 am

For a while I was buying new cars every 3ish years. I love cars. The body lines, colors, sound of the exhaust, smell of the interior, and the feeling of shifting through the gears. Its magical :)

However, reading through the threads of people paying 20k for a car, and keeping it for 20 years and 200k is also pretty darn cool. I'm certainly not frugal when it comes to cars... I havent driven my car in a few months, as I take public transportation everywhere, and use my gfs car. I also purchased a motorcycle as a much less expensive way to have some fun

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Re: Truck/Car Envy....How do You Deal with It?

Post by tim1999 » Sat Jan 18, 2014 8:46 am

I love cars and am a card-carrying "car guy."

Frankly, I have no interest in exotic vacations (I couldn't care less about seeing Europe), living in a fashionable neighborhood, owning more than bare-bones furniture, etc. But I do spend a chunk of my disposable income on cars. As long as I meet my savings targets (and I mean retirement savings, not savings to be spent a few years later) I allow myself to spend the remainder on whatever I want.

I enjoy the "art of the deal" when it comes to buying and selling cars. If going from one car to another I put a lot of effort into limiting the loss on the old one and getting the best deal on the new one. That may mean buying a different model of car if the one I want can't be bought on good terms.

I can't say I really envy other people and their cars. Sure, if I see a Mercedes E63, I'll say to myself, "that's a cool car" but I don't find myself saying "wow, I wish I were that guy, wonder how he got the money" etc.

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Re: Truck/Car Envy....How do You Deal with It?

Post by NHRATA01 » Sat Jan 18, 2014 9:34 am

I'm a car guy but I fixed that issue real early. Bought a toy fresh out of college in '01 that only sees good weather and daily drove beaters. Then when I had a little more money I daily drove off-lease used cars until they started to fall apart and I spent more time under them than driving them. 1.5 years ago I bought my first new car since the toy but will easily hold it past the 5/100 warranty period.

The toy has a lot of work I've done to it and is quite fast, and rather eye pleasing IMHO so any time I'm driving my ho-hum commuter and a fancy car flies by, I can soothe the little ego I have by remembering I still have some fun in the garage.

mak
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Re: Truck/Car Envy....How do You Deal with It?

Post by mak » Sat Jan 18, 2014 9:46 am

I could replace "truck/car" with "girlfriend" throughout this thread and the gist would be similar.

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Re: Truck/Car Envy....How do You Deal with It?

Post by uglystickrules » Sat Jan 18, 2014 9:47 am

I used to be a 'car guy' - had a Z28 and a WRX, respectively. After I paid off the WRX, I got a Silverado Z71 Ext cab. Loved the truck - had it from 2010 through most of 2013. It was handy in every way except one. My wife and I had our first child in August, and when I realized the baby seat wouldn't fit in the ext cab of the truck, I traded it in on a 2013 Chevy Equinox LT.

I miss the truck immensely, and every time I see someone driving around in one of the new Silverados or I see a trucking magazine with one on the cover, I get an overload of envy. BUT, I had a good reason for departing with it. It was going to cause more problems keeping it - gas mileage, not fitting the baby seat in the cab, and my wife, since she had a c-section, pulled some muscles that would've prevented her from 'hopping' up into it. The Equinox is lower, gets better gas mileage, and fits the whole family. It might be a little less stimulating than the truck, but it's serving its purpose, at least until it's paid off and I get the urge to trade it in on a newer truck, which will probably happen.

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Re: Truck/Car Envy....How do You Deal with It?

Post by eharri3 » Sat Jan 18, 2014 11:03 am

I think of my Grandfather, who built a home, raised 6 children, and left his wife with a mid to upper 6 figure retirement cushion despite probably making MAYBE half what I make now, adjusted for inflation, in his best years. Dude drove the same car and truck for 10-plus years at a time, way more than that if he could keep them going. Went most of his adult life with no car payment. The family lived on his income and 100% of grandma's income from her part time job got plunged into the stock market. They also weren't cell phone or cable people. They happily did without things that would make life feel like torture for most of us.

Then I look at how much my generation struggles to accomplish the same things people like him did with 2-3 times the income.

The primary obstacle to wealth building is we have let society tell us we 'NEED' so much more nowadays than our parents and grandparents did. We can never really go back, but we can do our best to keep perspective on things.

I too am a car/truck guy. Owned a Crew Cab V8 Dodge Dakota from 2004 to 2009. Paid it off in 2.5 years and had no car note for the other 2.5 years. Dumped it because I got tired of repeatedly buying new steering racks, rotors, and ball joints. I had dropped it off to diagnose a suspension issue and taken a walk from my Dodge dealer down to the Toyota lot. Before this me and the wife had already been discussing the fact that it was getting to be too much of a money pit with only 75000 miles on the clock. I was standing there staring at what was to become my 5.7 liter Tundra Crewmax 4x4 when the Dodge dealer called and said I needed my 3rd set of ball joints. I hung up and made a deal to trade it for the Tundra. I LOVE the Crewmax and really do not miss the Dodge, but I miss not having a payment.

This time I carried the loan almost the full term on the Tundra. When it is paid off it will be 5 years old with 45000 miles on it. I have big plans for that 400 dollars per month. If I play my cards right around 2020 when I am ready for another vehicle it will not be anywhere as near of a difficult financial decision for me. Sure, if I could have everything I wanted in life there would be a 6 speed Hemi Challenger sitting in the driveway next to it. Now that we have a nice house to keep us busy there are some things I'd rather do there first. Such as a brand new 2 car garage so my truck and my Challenger can eventually sit sheltered side by side.

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Re: Truck/Car Envy....How do You Deal with It?

Post by jridger2011 » Sat Jan 18, 2014 12:28 pm

It was easy for me when I was younger, I couldn't afford a nice car and keep it safe from dings, scratches, or worse since I did not have a parking spot. Now that I could afford a parking spot living in the city, I decided against renting a home for a car I wouldn't drive every single day. The money could be spent elsewhere, vacations, good dinners, new hobbies, etc.

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Re: Truck/Car Envy....How do You Deal with It?

Post by tibbitts » Sat Jan 18, 2014 1:01 pm

CdnAppraiser wrote:My only real vice is vehicles, I love them but thankfully I hate paying for them.

I'm a truck guy so when a new model comes out or I see business contacts driving newer and better trucks than me I get the itch. I drive an 07 Silverado that I bought used in 10 and it treats me good but I have had an itch to upgrade for 2.5 years. The only think that saves me is that I invest the potential monthly payment. I tell myself I have to wait 3 more years....I'm sure I'll have plenty of itches along the way. maybe I shouldn't watch Barrett Jackson Auctions...lol.

Then the debate will be new Toyota of used Domestic Truck. I say new Toyota because used ones are way over priced in Canada, cheaper to buy new and drive for 10 years (assuming I don't get an itch).
You can simplify the choices because there's just no point to getting less than a 3/4 ton in a full-sized truck, so the selection is more limited. It seems to be taking a while to migrate the efficiency improvements from 1/2 to 3/4 ton, so that might be an incentive to wait a bit on the truck.

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Re: Truck/Car Envy....How do You Deal with It?

Post by leonard » Sat Jan 18, 2014 1:49 pm

eharri3 wrote:They also weren't cell phone or cable people. They happily did without things that would make life feel like torture for most of us.
Naw - the torture is dealing with the people that have the cell phones. Distracted and constantly "checking" things on line that have no real value - other than interrupting whatever it is you are trying to get them to do.

btw - torture could be defined as being accessible and findable 24 hours a day.
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Re: Truck/Car Envy....How do You Deal with It?

Post by SmallSaver » Sat Jan 18, 2014 2:05 pm

It's easy to focus on the benefits and minimize the cost in our heads. Try doing the math. Figure out what it would actually cost you to make the switch, and what that money could do if you invested it elsewhere. I find I don't envy people for things that I know I can afford, but have decided to forgo because it was the better financial decision for me.

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Re: Truck/Car Envy....How do You Deal with It?

Post by Ron » Sat Jan 18, 2014 3:44 pm

I/wife put away $500 each into our own car fund ($1K/month). It has grown fairly quickly (at least to us). When we consider a new (or newer) car, we think of not only the payments - if we can't pay cash, but also the "loss" of that tidy sum in our respective accounts.

Most of the time the idea of reducing our bank balance is enough to keep us from buying another car on a short term basis. When it is time to upgrade (due to the current car having major problems), we'll take the plunge. My current car is 9 years old - hers 12. The last time we traded in a car to upgrade, we had been running it (purchased new) 18 years. As you can tell, we never have been one of those folks that needs to have the latest car in the garage :mrgreen: ...

Not to say that in my younger years I did not have a passion for having the latest model. Luckly, as I got older I changed my outlook and today I look at a vehicle as just transportation - something to get me from point A to point B.

rec7
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Re: Truck/Car Envy....How do You Deal with It?

Post by rec7 » Sat Jan 18, 2014 4:22 pm

We can live a year or two for what a new car cost. I keep thinking about this. That is how I deal with it. Plus to be honest unless my old car breaks down I don't think of it that often. But I worked with people that bought a new car after they made their last payment on the old car. If you are a person like this I would get the longest loan you can. You will pay more in interest but it might be cheaper in the long run.

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Re: Truck/Car Envy....How do You Deal with It?

Post by Crimsontide » Sat Jan 18, 2014 4:34 pm

I grew up... or did I just get old? :confused

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Re: Truck/Car Envy....How do You Deal with It?

Post by hicabob » Sat Jan 18, 2014 4:54 pm

Crimsontide wrote:I grew up... or did I just get old? :confused

Ditto - it seems less important to me as I get older and collect a few of my own dings and dents.

berntson
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Re: Truck/Car Envy....How do You Deal with It?

Post by berntson » Sat Jan 18, 2014 5:17 pm

I remind myself that the car I could own is way nicer than most cars that anyone actually owns. This lets me have all the self-affirmation of buying a luxury sports car while keeping all of the money needed to actually buy it. :D

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Scott S
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Re: Truck/Car Envy....How do You Deal with It?

Post by Scott S » Sun Jan 19, 2014 1:25 am

A truck doesn't do anything I need that a car can't, and I've never really liked them, so that helps. :P

...

Well, that's only partially true. It would be fun to have an unrestored step-side pickup from the 1940s, but it's not a priority.
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Re: Truck/Car Envy....How do You Deal with It?

Post by rj49 » Sun Jan 19, 2014 3:22 am

Another way to avoid new car/truck desires is to stop watching broadcast tv, which are loaded with enticing ads for them. I switched to Netflix/Hulu/Amazon several years ago, and I'm rather shocked at all the car and truck ads when I watch an occasional football game on tv. I personally try to keep a balance between 'drive it into the ground' philosophy and 'paid off my last car, time for a new one'...I buy a new car every 10 years, and pay either cash or use financing if it's under 2% or so. I've never paid more than $20,000 for a car, and I don't have a need to show off status or power or testosterone or compensation issues by driving something huge and expensive.

Another effective way to avoid new car desires is to stop by a lot and have an encounter with a slimy, pushy salesperson. The thought of going through that makes it easy for me to wait to go through that torture until the time I've set to get a new car.

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Re: Truck/Car Envy....How do You Deal with It?

Post by The Wizard » Sun Jan 19, 2014 4:27 am

I have both a car and a truck and use the one that makes sense most of the time.
My truck is a 2004 Ford Ranger 4x4 bought new almost exactly 10 years ago. I'm taking it out on the "logging road" later today to take down more sassafras trees to allow more space for oaks and maples to grow. (The sassafras gets burned in the shoulder months.)

Anyway, I have an F-150 scoped out to replace the Ranger when its time comes. When, I don't know exactly, but I'm mostly ready; the new ones come with Aluminum bodies now, so that's nice...
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4nursebee
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Re: Truck/Car Envy....How do You Deal with It?

Post by 4nursebee » Sun Jan 19, 2014 5:42 am

I have goals.
I do what it takes to achieve them.
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Re: Truck/Car Envy....How do You Deal with It?

Post by Jay69 » Mon Jan 20, 2014 10:45 am

Here I will help you out, wait for the 2015 Ford f150 with the aluminum body, being in the snow and salt area myself I'm going to keep an eye open for one, will wait a few years for them work out the issues first! The main issues is keeping the ding dong drivers from sliding into it thus keeping the nice aluminum body nice!
"Out of clutter, find simplicity” Albert Einstein

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Re: Truck/Car Envy....How do You Deal with It?

Post by technovelist » Mon Jan 20, 2014 5:07 pm

berntson wrote:I remind myself that the car I could own is way nicer than most cars that anyone actually owns. This lets me have all the self-affirmation of buying a luxury sports car while keeping all of the money needed to actually buy it. :D
Very efficient of you! :beer
In theory, theory and practice are identical. In practice, they often differ.

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Re: Truck/Car Envy....How do You Deal with It?

Post by technovelist » Mon Jan 20, 2014 5:09 pm

mak wrote:I could replace "truck/car" with "girlfriend" throughout this thread and the gist would be similar.
As long as you don't replace it with "wife", which would require adding another zero to the cost. :moneybag
In theory, theory and practice are identical. In practice, they often differ.

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