Member
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Join Date: Jan 2013
Location: Edmonton, AB, Canada
Posts: 347
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Member
Join Date: Jan 2013
Location: Edmonton, AB, Canada
Posts: 347
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I recently went through this. I have a 4th gen v8 4runner that's paid off (I should hope so since the EOL for 4th gens was 2009 lol). I had a subaru sti that was paid off -this was the "fun car". I got the hankering for some horsepower and traded that in for a jeep srt which I shortly paid off within a year. The jeep started giving me typical jeep/dodge headaches so I got rid of it for my 4runner. I put a large chunk towards of the srt proceeds towards the 4runner and took a small chunk to throw into a high risk stock. So, I'm making payments on the 4runner for 1 year (the cost of borrowing is so low, the 3.99% is negligible). I have a 2.5 year old kid as well that's about to start a $1600/month day care.
In the interim, I got the itch again am looking for a summer car. I have a race bike and a dirt bike so I can get my jollies through that, but I really wanted a dedicated, powerful summer car again. Right now I'm eyeballing a mercedes c63, but my common sense tells me to hold tight because I can always buy a summer car. There'll always be cool cars downt he road so I'm wondering why I'm pushing things so hard. After reasoning with myself, the smart thing to do would be to wait until my kid is done her ridiculously expensive day care. After that, I should have more in the bank to pay off most, if not all, of my summer car (depending what I want -an LS6 swapped FD would be ****ing amazing).
So yeah, I suppose my message is to be patient. You got a sweet daily, be happy with it, get kid through daycare, and then buy summer car. It's a 5 year detour but in the long term, you get a car that's possibly paid off outright without any of the stress of payments.
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2018 Super White SR5 Premium aka Ben Affleck: Procharged (D1SC), Bilstein 5100s w/ 2" Toytech Superflex, 285/70/18 duratracs (E), 18x9 Volk TE37, OEM Audio+ Ref500, RA Motorsports rack, TRD hood + skid // 2003 Black Limited (2UZFE) aka Blacky Chan: Bilstein 5100 w/ Icon 2.5" springs, BMC, air bag delete, 17x9 SCS Ray10, 285/70/18 Yokos
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