Buying a New Toyota Every Year

[BRUIN8124]

Answer me this...

My next door neighbor just came home with a brand new 4Runner. Needless to say, I was a bit jealous.

I have lived next door to him for 3 years now and this is his 3rd brand new vehicle since I have lived there. His previous 2 were Tacoma TRD Off Road 4X4. (Not cheap).

I thought it may have been some sort of short lease. He insists that he buys them. No financing, pays cash. Must be nice...

I know our Toyotas hold their values but... Is he nuts? They do depreciate after they drive off the lot. He barely drives it. I bet he does not even put on 3000 miles a year. I do not get why he doesn't keep them. He just turned 80. Any of these vehicles will out live him. I feel he is just giving money to dealerships.

I do not get it. Does this make any financial sense? What do you guys think?

 

[CO-Cygnus]

Some people just like having shiny new things.

 

[99SR5rva]

He's just enjoying his retirement it seems


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[wanderMT]

At 80, 'financial sense' must not be priority.

A few months after getting my '15 T4R LE, Dr. told me I had 5-7 years to live, and I'm only 60. No-one deserves to spend my $ more than me, so I'm going to buy new car, as soon as I figure out what I want. It won't be a T4R, done that already!!

 

[J-Roc]

Tried something, wasn't a fan. Changed it up a bit, still wasn't a fan. Gave it a good shot, decided wasn't for him....trying something new....?

 

[Barabus]

At 80, 'financial sense' must not be priority.

A few months after getting my '15 T4R LE, Dr. told me I had 5-7 years to live, and I'm only 60. No-one deserves to spend my $ more than me, so I'm going to buy new car, as soon as I figure out what I want. It won't be a T4R, done that already!!

If I have a few years, it would be a boat and not a car.:fishing:

 

[1engineer]

Answer me this...

My next door neighbor just came home with a brand new 4Runner. Needless to say, I was a bit jealous.

I have lived next door to him for 3 years now and this is his 3rd brand new vehicle since I have lived there. His previous 2 were Tacoma TRD Off Road 4X4. (Not cheap).

I thought it may have been some sort of short lease. He insists that he buys them. No financing, pays cash. Must be nice...

I know our Toyotas hold their values but... Is he nuts? They do depreciate after they drive off the lot. He barely drives it. I bet he does not even put on 3000 miles a year. I do not get why he doesn't keep them. He just turned 80. Any of these vehicles will out live him. I feel he is just giving money to dealerships.

I do not get it. Does this make any financial sense? What do you guys think?

It might make no sense to you but to him it does. He loses every time he does this but if he has the money, so what? Some people spend their money on hookers and coke. Some spend their money on gambling. This guy likes new vehicles. Pretty tame if you ask me.

 

[Spokanesteve]

Heading up in years

I'm at that in-between age - 47.

Just my personal experience but for me, As I get older I have started to think more about not saving everything for the future.

Now that we have enough to get ourkids started right and I've had some friends die young and get cancer I have realized that I don't want to wait to do (and buy) all the things that I want.

Just my 2 cents.

Cheers, Steve.

 

[BRUIN8124]

You all are probably right. I just hope he is not being taken advantage of. It is his money though... Not much I can do about it. Except be jealous of his sweet new 4Runner haha.

 

[aa.allen]

I had a older gentleman that lived next door to me when we lived in Texas, every April he bought a a brand new pick up. He said he accountant mad him do it for tax purposes.

We lived in a older blue collar lower middle class neighborhood so who knows

 

[amalik]

When you said he's 80, it gave away the issue to me!

A friend of my wife lives near us. One day we went over there for something. Her neighbor had a Mustang, GTR, M3, and some other fancy car sitting there.

All were shined to the level of *SHOWCAR* shine -- the damn rims were blinding me as they reflected the sun, and some were wrapped/clearbra/all that.

I was just stunned.

Wife's friend said he's retired and just buys fancy cars and shines them all day.

Some of my own neighbors are retired also. They mostly have nice MDX/Lexus/etc and shine them up.

Car life in 20s/30s/etc is different than these retired folks. Keep in mind retired folks of today had great pensions and retirement plans that are like damn unicorns today unless you work for uncle sam and uncle trump.

 

[Three50Bowtie]

He is definitely just living his last few years to the fullest. I would do the same....probably has good savings and enjoys driving a nice, new vehicle.

 

[bgibbs11]

Answer me this...

My next door neighbor just came home with a brand new 4Runner. Needless to say, I was a bit jealous.

I have lived next door to him for 3 years now and this is his 3rd brand new vehicle since I have lived there. His previous 2 were Tacoma TRD Off Road 4X4. (Not cheap).

I thought it may have been some sort of short lease. He insists that he buys them. No financing, pays cash. Must be nice...

I know our Toyotas hold their values but... Is he nuts? They do depreciate after they drive off the lot. He barely drives it. I bet he does not even put on 3000 miles a year. I do not get why he doesn't keep them. He just turned 80. Any of these vehicles will out live him. I feel he is just giving money to dealerships.

I do not get it. Does this make any financial sense? What do you guys think?

Sounds like someone you need to become friendly with. Tell him next time he goes to trade, you'll give him what the dealer's giving him for a private party sale. Then you've got a super low mileage, practically brand new 1-owner vehicle that you actually KNOW was used by an old man to go to and from the grocery store...

 

[shrub1]

You all are probably right. I just hope he is not being taken advantage of. It is his money though... Not much I can do about it. Except be jealous of his sweet new 4Runner haha.

Don't be jealous, be happy for him. He has reached the end of his life and this brings him joy. Perhaps he is also lonesome and buying new vehicles so often gives him the undivided attention of the salesman which makes him feel value he otherwise wouldn't. Much like the hooker the analogy given earlier in this thread.

 

[bythehour]

If you develop a good relationship with your dealer (like buying a new ride every year), they will be more willing work with you on trade-in values and prices on the new cars. My dentist has been doing this with BMW for as long as I can remember. It ain't cheap, but it's not as expensive as you might think.

 

[Sean K.]

None yo business, brah. He can do whatever he pleases with his money unless in infringes on someone elses natural, negative rights.

 

[johnbt]

I used to be a poor working stiff who never made a whole lot working for the state government. I'm just 66 and retired the day before I turned 62. I paid off my mortgage in 1997 and haven't had a car payment since 1987. I save up the money - collecting interest - and then buy a car with cash. Of course my first 2 vehicles were used Chevelles and the next two were new Datsun B210s, but it let me save up and get ahead of the game.

Fwiw, I was raised by folks who make Dave Ramsey look like a big spending party boy. They were born during the Depression - the real Depression, not that thing we just went through - and learned to value a dollar, a dime and making do while you save, save, save.

John

 

[philsey]

Answer me this...

I do not get it. Does this make any financial sense? What do you guys think?

... and learned to value a dollar, a dime and making do while you save, save, save.

Amen and amen.

@OP, what you "get" from this is a very valuable life lesson.

Plan, invest, save, for your future such that you have the ability to retire at a comfortable age, and do what you want to do when that time comes. (I did the former, and I'm now doing the latter).

DO NOT be saddled with late-in-life debt. Live WITHIN your means. Plan ahead.

 

[wkeryder4]

I work with a guy that is 67 years old and despite failing sales he still complains that he can't retire yet, yet every year he buys a top of the line BMW with every possible upgrade they offer. He insists that it has the top of the line tech/performance package even though he literally has no idea how to use any of it (he still has us print a map for him when he goes to meet a new client, doesn't have a smartphone or even a computer at home etc.) even though his car is decked out with an 8" screen with blue tooth & GPS. His monthly payments are outrageous and meanwhile his wife, who makes the majority of the money, is driving a 10 year old infinity and still working as well. It utterly baffles me but to each his own I guess. I'd rather enjoy retirement than spend all my money trying to look cool and keep up with the joneses.

 

[TeamLord]

Answer me this...

My next door neighbor just came home with a brand new 4Runner. Needless to say, I was a bit jealous.

I have lived next door to him for 3 years now and this is his 3rd brand new vehicle since I have lived there. His previous 2 were Tacoma TRD Off Road 4X4. (Not cheap).

I thought it may have been some sort of short lease. He insists that he buys them. No financing, pays cash. Must be nice...

I know our Toyotas hold their values but... Is he nuts? They do depreciate after they drive off the lot. He barely drives it. I bet he does not even put on 3000 miles a year. I do not get why he doesn't keep them. He just turned 80. Any of these vehicles will out live him. I feel he is just giving money to dealerships.

I do not get it. Does this make any financial sense? What do you guys think?

Sure hope he isn't buying them new at Downeast Toyota. They are one of the most overpriced Toyota dealers in the state! Obviously he's nuts. How can he NOT fall in love with one of those Toyota's and want to keep it for life. Gah!! Mine is a 2003 and I couldn't part with it!