Originally Posted by LostRebel
Background info: My last three trucks lasted 11-12 years before they rusted to the point where I felt they weren't safe. I sold two of them for less that $2000.00 each. I still have the 3rd. Each truck cost me over $2000 per year in depreciation for each year that I owned the trucks. I have finally realized that anytime I can trade for approximately $2000 a year of use, I am ahead. Not monetarily, but by having a newer, nicer vehicle. This may seem like a lot of depreciation to those who don't live in the salt belt, but it is a fact of life for us northerners; at least in those areas where they spread salt like it's free. And I'm one of those guys who gets down under the truck throughout the winter and hoses the undercarriage thoroughly.
When I went in for an oil change and inspection back in February, my salesman talked to me about trading after he saw me wandering around the new trucks in the lot. He said he had a customer looking for a used truck and he could pre-sell mine. I know, a typical sales pitch under most circumstances. But, we have a long history and I trust his word.
He gave me a figure of $4800 difference PER YEAR (two-years-old = $9600.00, SR5 to TRD Off-Road, otherwise identical trucks) I countered with exactly $2000 a year difference and the added cost of the off-road package. Over the course of a few days, we closed to within $700 and I then politely walked while dealing directly with the manager. Surprisingly, I went back in at the end of the month with a "valued customer coupon" they sent me in the mail, and made the deal at my price; $2000 per year and difference in the package price. I had also beat them up pretty good on the original trucks purchase, so I was quite pleased with my deal. (My trade was sold within two days.)
Based on my experience; if you really want the truck, and if you can afford the truck, and if you can negotiate another $1500 off or added to your trade (same difference), then buy it. (I show the KBB excellent trade value on your truck as $22300, my zip) Toyota financial should be readily available for the low 3s, and if you have a good history with them you can negotiate 2.9X. (No matter where you finance, 4.49 on a new vehicle is not a good rate unless your credit is lacking in history or somehow boned.)
You have to decide if the Sport will meet your needs as compared to the Off-road. I had intended to put lockers in my SR-5, but have saved that money with the Off-Road. I paid for a few things in the package I don't need or necessarily want (overhead console, wheels and sport seats) but they are not detrimental items either.
Purchasing a new vehicle is one of the worst uses of your money ... Unless it makes you happy. Negotiate a killer deal and enjoy your new vehicle.
Thanks..I do have excellent credit, I only used 4.49 @ 72 months because that was a number he knew he could get me. 3.38 was talked about for 72 months but he would have to submit the credit app to get that and that dings you score a few points...so I told him to hold off until I made my mind up.
I think if I went 60 months, 2.9 would not be a problem, but not at 72. I tell you I was shocked at how high the trades are on these trucks. its amazing how they barely depreciate.