In just a few months I'll be writing the final check that pays off my truck. I absolutely love my Tundra, I get compliments on it every single day and it is set up about 85% the way that I want it. I'm really looking forward to not having a truck payment anymore, but I'm worried I may be out growing my truck.
When I got my truck I had a 5 mile commute and I didn't tow or haul anything heavy and had no plans to. Now here we are 3 years later and I'm in a position where I have a 20 mile commute and need to put a plow on my truck and have been finding myself struggling to find a travel trailer that I like enough to finance for the next twelve years that fits within the limits of my 4.6L Tundras towing and hauling ratings. I know there's guys out there that have plows on their Tundras and I know I could settle for a smaller camper; but I don't want to settle on something I'm going to be paying on for so long.
I've run a few scenarios through my head and maybe you guys can point me in the right direction.
Option 1.) Keep the Tundra and find an older truck to plow/haul with. Pros: No payments, get to keep my Tundra.
Cons: Insurance/maintenance on two vehicles, question of reliability on the older truck, do I really need to own two trucks?
Option 2.) Trade in the Tundra for a new 3/4 ton, probably a diesel.
Pros: One vehicle, around the same payment as what I pay now. More appropriate truck for the job.
Cons: Truck payment, stress on new truck from plow. Higher maintenance costs of diesel, Emissions crap on new diesels.
Option 3.) Trade in the Tundra for a used 3/4 ton that is close enough in price that I can pay the difference in cash.
Pros: No truck payment. More appropriate truck for the job. Potentially find a pre-emissions diesel.
Cons: Used vehicle and the concerns that come with buying one.
Any other scenarios that you guys can think of I'm all ears. Everyone that I've talked to seems to have a different idea of what I should do, so hoping to hear from some people that have been in my position before. I should add that I don't NEED to do any of the above tomorrow, but they're close enough in the future that I want to start planning for them.
Thanks for reading my post, I appreciate all your feedback.
Make due with what you have and hold out for '17-19 (whenever the real 3rd Gen comes) out and make sure you buy the biggest engine/tow package available.
Is it normal to finance a travel trailer for 12 years? Seems like a long time, but this might be the norm :dunno:
What about option 4) Put the 4.6 up for sale and see what happens. If you can manage to sell it for a decent price you will have a huge down payment on a 5.7 and continue to be happy with your reliable Tundra and have pretty low monthlys.
Only suggesting because I had a hell of a time finding a 14+ used Tundra that did not have high milage and a high price. I can relate because I have a grand plus change owing on my car so it's basically paid off. I also did not want to have a monthly payment anymore, but I also needed something bigger for a family hauler and the convenience of a truck. The scales tipped in favor of the Tundra in my case.
Out of everything I've read about on the Tundra, the towing stands out. For a half ton with a 5.7 and a 4.30 rear end, there are obvious reasons that make life easier when you put a commercial rear end in a truck.
Option 3 you shouldn't even consider....every pre emission diesel will be a rotted out POS by this point. Get ready to replace rockers, cab corners and if it's a GM window reguators, evap modules etc.
There is some truth to that, plus if you did find a cherry 2006 or older, it will be worth a fortune. Lots of people with the same intentions, i.e. find an older pre-emissions diesel to avoid the problems.
Not a rotting out problem in all areas, but its one thing you should look at before you buy in the first place. I mean if you get in it and you can see the ground under your feet there's a problem LOL.
Yep, the pre-emissions diesels are getting harder to find, and when you do find them people want ridiculous prices for them....and those people wonder why they still have that truck a year later...then you get the people dumb enough to pay the ridiculous prices so the prices continue to remain extreme.
I'd kind of hold off and see what the next couple years for Toyota bring. However, I doubt there will be a diesel option in the same price range the Tundra is now. Look at the Nissan Titan Diesel. $55k+ price tag, and its still a damn 1/2 ton truck, that's a ridiculous price to pay for a 1/2 ton truck just to get a diesel. You can get a really damn good 1 ton diesel for that price and be able to tow a very nice trailer.
Personally I'd kind of shop around and see what you can find in the used market, and you don't need a diesel truck to pull a trailer...a 3/4 or 1 ton and a good engine will do just fine...stray away from GM, they seem to have pretty weak engines power wise. Dodge seemed to have horrible automatic transmissions and Ford had great engines until they dropped the 302, 351, and the 460....no they didn't get very good fuel economy but they would pull anything you hooked up to. My 1988 F-250 4x4 460 is still going, and pretty close to 400k on it, and haven't done anything to it other than regular maintenance...it has an automatic transmission but no overdrive. Pulled a 21' travel trailer all over the country for several years.
Being upstate and only 20 miles commute, a diesel will cost you more than you will gain. If you want/need a certain size trailer, everything usually has a lower weight option. A lite version. I've been looking at TT and anything with granite or a fireplace is built all wrong so I move on.
Thank you all for your replies. At this time I am currently watching for a decent deal on an older HD truck, probably some where's in the early 2000s era. It'll double as a tow pig and plow truck, plan on driving it once a week just to keep it fresh. Seems to be plenty of 99+ Ford Super Duties for sale around here, gas rigs with around 150k for $3500-5k. Now just got to find one that isn't rotted out.
12 years of debt for a trailer, I hope your joking. DEBT, LOANS, and HEALTH INSURANCE are mostly evil. Keep in mind your purchasing luxury non essential items and will pay about double the sticker price of the item when it's all said and done. In a nutshell the reason the 3 things above are evil and are the main factor that cars, trucks, homes and other popular items people get loans on are much more expensive than they were in the past (especially after factoring in inflation). When you take a loan out for something you didn't save for your less likely to be picky on the price and get a deal, you're more worried about how much you can afford monthly therefore you get more than you should. Health Insurance is the same way, before the 60's when you needed to goto a doctor it was very affordable, now the cost is so out of control you absolutely need insurance to see a doctor, this is because insurance companies told the doctors what they could charge, so they increased the prices 3-5 times more to get back to the rate they were before, this means you pay the normal price because your not an insurance company, and the complexity of the system drastically increases reducing the efficiency of doctors or requiring extra staff members to handle the paperwork. And don't get me started on Gov't funded medicare and how they don't pay enough to cover the cost of treatment (resulting in more burden on all of us).
Here's when a loan isn't evil, when the benefit of not waiting outweighs saving up. So if you get a new job in a different city, you may want to purchase a house there to avoid renting (throwing away your money). For me personally when I am a bit short in the bank I'll buy equipment on loan because the equipment will pay for itself entirely before the end of the year so I'll be able to serve more customers. If I had waited I would have to save and get the equipment later in the season resulting in me not being able to get as many clients or pay off the trailer in the first year. You by contrast are buying equipment that doesn't make you money, is not a basic essential to your life (something that if you didn't have would affect your ability to work or live), that only depreciates in value and has maintenance costs down the road. Couple that to the fact that every 10ish years we go into a recession (think 2018-2020) it's a bad idea from my point of view (entrepreneur).
My recommendation is...
option Z: a cheap tent from Walmart.
Lmao okay thank you for the financial and economics class. Im not trying to be a jerk but your comments about "evil" purchases made me chuckle. If you never bought anything that depreciated in value I really think life would be pretty boring. The question wasn't wether or not I should purchases a travel trailer, that decision has been made. For what it's worth a purchase that allows me to spend some time away with the family will always be a good investment in my book.
I agree that long term loan lengths aren't always a good idea, however no one says you can only pay the minimum payment either. I asked the dealer what the average loan length on a new travel trailer purchase was and they said 12-15yrs. I'll probably go for a shorter term, but your comment about paying cash or not buying it is just asinine. In a perfect world yes I'm sure we'd all like to just cut a check for any purchase we make and if you're able to then that's great for you, but for the rest of us I really don't think that's a reality on most major purchases.
Now, back to the original topic; any further suggestions about the best course of action is I'd appreciate any replies. Thanks in advance.
I just bought my brand new tt on a 10 year loan. I don't want to wake up one day and say I never took the risk, father time always wins. Carpe diem my friend, memories last a lifetime. I have 3 years left on my Tundra and 10 on the tt and I'm living MY dream.
Most of my reasons for searching out a diesel is not only the towing/hauling capacities; but the added power. I've never driven a gas HD pickup that wasn't a dog and coming from the baby V8 Tundra I don't want to make the mistake of geting the small motor in my next investment. I found a dealer selling new Ram diesels in the $42-45k price range, the only new Tundras that I find appealing are the TRD Pros that are priced higher than that.
Volleyball- I actually think I saw that ad, but unfortunately that only solves one problem. Damn near impossible finding something up here that isn't rotted out.
Brettdunn7- I would really like to buy the bunkhouse with slide in the rear bunk area, outside kitchen and second outside door that leads into the bath. Unfortunately that floorplan doesn't really exist in a size I can tow. I've looked at similar floor plans in the ultra-lite models but the problem with the ultra-lites is that they usually shave a lot of the weight by lowering the ceiling hieght. At 6'3" there winds up being a lot of head-bangers in those models for me unfortunately.
So I have 2 kids and actually was considering the same type of model you are. I haven't actually gone to look yet and walk inside them but there are models within our tow capacity that have a curved or vaulted ceiling to give more head room. I am considering the floor plan with the rear living/entertainment are. Has fireplace and tv at very back wall of trailer, couch with pullout on one side and theater or reclining chairs on the other. Kitchen in middle and master in front. The kids can sleep on the pullout and the dining bed convert. When we wake up in morning I wouldn't have to bother them or maneuver around them to get to the kitchen. They also have a ton of room since most have slides on both sides down at the living area end.
We are also looking at models you described. Mainly one with a flip down bunk above a couch that sits across from the other bunk with a tv below it. The outside area under that bunk has the outdoor kitchen. The only issue I have with these models is that there is typically only one couch for seating in the living area and I really don't want the dining table to be the only other option for seating.
Once we start going and actually looking at some of the models then we will have a better idea.
Look at some of the Keystone Passport Elites. I'm liking the 31E myself as it's probably one of my favorite plans. The Keystone line itself has a lot of models that I think will fit what your looking for.
Funny you mentioned that model, 27BHS and 28BHBE is the one I originally looked at, but decided I didn't want bunks for now. 29RKS is the model I have most considered; but it's right at the top of my limits. Dealer says 6-8 weeks for delivery once ordered and thanks to reserves in being sent away until the beginning of August; it means I'll be waiting until next spring/summer more than likely.
Brettdunn7- That curved ceiling makes a world of difference, when you start walking through trailers go in one with the regular flat ceiling and then go into one with the rounded roof; you'll notice a difference. Keystone makes some great trailers; but my personal favorite brand is Jayco. My parents are on their second Jayco and a few months back I drove over 3 hours to attend one of the largest RV shows in New York. There were I think 7 dealers and every brand you could think of was on display. While I did see some really cool features that Jayco doesn't offer, when it comes down ton a complete package that Jayco brand is the one I always went back to. When the time comes I'll be ordering a Jayco Jay Flight with luxury package to get the skylight in the kitchen and "leather" furniture. If I go for the 29RKS I'll be adding the sliding glass door and fiberglass sides options as well. I know what floorplan you're looking at; it's a very spacious camper but with the two slides it's a very heavy camper if it's the one that im thinking of.
On a separate note, are you still interested in the DC sub box? I have it sitting here collecting dust.
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