Work Truck - Worth It?

[MooseHead]

My old truck is starting to die on me so i'll soon be in the market for a new truck.



I'm debating purchasing a 4 door pickup 4x4 which will be my only vehicle vs purchasing a 2 door reg cab pickup used solely for my rental properties (as I self manage and reno my units) and purchasing a nice little fuel efficient car for personal use.



I'm sure there has been a few here who have had this dilemma. What decision did you go with and why?



Cheers,



MH

 

[moparcanuck]

Be careful with the tax consequences. If it is your only truck, you will need to keep a log of how much personal vs business driving you do, and only deduct the portion that is business. Do you do a lot of driving and work for your rentals? If it's pretty minimal in the grand scheme of things, I'd say just buy whatever you want to drive personally, since that's what you'll be doing most of the time. If it's a fair amount, then it does indeed become a bit more of a question. I've often thought of this same thing myself. I have a smallish SUV, and have often thought I should just get a truck instead. Haven't pulled the trigger yet



BTW, this assumes your properties are held personally. If you hold them in a corp, hands down, NEVER have a vehicle used personally in a corp. Nasty tax consequences.

 

[Alvaro Sanchez]

I would get one.. you can get a midsize truck (4x4) say Ranger or Tacoma, etc... If you get two cars is double the expense, 2-insurances, 2-oil changes, 2-gas tanks, 2-license fees, 2- emission control test, etc.

 

[invst4profit]

I am in a similar situation as you. I manage my own property and do house renos to flip as well.

I retired 3 years ago from my full time job and at that time needed to make a decision on a vehicle to best serve my purposes.

Considered a pickup truck as I would be hauling plenty of material including dirt, gravel, large equipment etc. A full size truck would serve the purpose, a 4X4 is completely a waste of money as I had no intention of going off road, but it needed to do double duty as a travel vehicle as well. It would need to carry 4 people on occasion and be reasonably gas efficient as I drive on average 40,000K per year.

In addition I would be transporting all my power tools between job sites and would regularly need to leave them over nite in the vehicle.



I bought a Dodge Caravan. Back seats fold down into the floor, I can fit in a 4X8 sheet of ply or drywall ( this is a must have) and my tools never get wet or covered in snow. I have a utility trailer to carry the dirty stuff.



It is the most practical multi use type of vehicle and with the trailer is perfect for what I do. Not macho or stylish but perfect for the job.

 

[MikeMcC874]

I just went through this and ended up buying a Nissan Frontier to replace my 13 year old Mazda MPV.



It is a smaller truck but the crew cab beats the crap out of the rangers and the cost was better than the Tacoma.



Mike

 

[scoopert2000]

Currently have a Honda fit for a daily driver and a gmc 3500 4X4 pickup with a easy dump. After running smaller trucks this is the only way to go. I do most of my own work with a couple of guys brought in for bigger jobs. I normally have one house under renos and am currently renting 4 others. Along with a 14 cargo trailer that has the tools its a great set up for what I do.

But I do buy the real ugly houses. Last one was over a 100 trips to the dump, most with a dump trailer and the truck loaded to the max. BEFORE DEMO.

The 4X4 is a must have as well. Much easer to drive around the house on the wet grass to load a roof or something than it is to move it by hand to the drive way. Same goes for the heavy payload of the 3500. Why make 2 or 3 trips when I can do it in one. Both save time and effort.

Having said all that I love my truck but my truck loves fuel.

If you have 3 rentals you can use 100% for taxes if there no personal use.



Stewart Cooper

 

[JimWhitelaw]

Things are probably a bit different in Ontario. In Alberta, there is no longer any such thing as a regular cab 2-door pickup (except as a bare stripper model in white for fleets), nor a 2WD pickup. They are manufactured, but no dealer here will waste lot space on them. You get a 4-door 4x4 or you walk. It's easier to get a 2WD pickup from the USA.



I replaced a 2WD Suburban with a 4dr pickup a few years ago and I find it more useful overall. Glad I did not go with another SUV. Two vehicles means twice the hassle, so make it worth your while and make sure the small car is something fun. A Porsche Boxster would do nicely.

 

[MooseHead]

Thanks everyone for sharing your ideas & opinions. I've decided to
suck it up, put a little $$ into my current truck and keep it. I will
likely try to keep it for another year or two. As much as I would like a
new vehicle, I like not having a truck payment even more. I'm also
trying to save up to purchase another rental property in 2014 so for now
my 2001 Sierra will have to do!



I also tend to agree with those who advised sticking with one vehicle as op[strike]p[/strike]osed to two if circumstances allow in order to avoid paying twice as much for insurance, oil changes, repairs, etc.



Sorry for the late reply!



Cheers,



MH