Looking for some suggestions here. I need to knock some of my monthly debt down. Figured trading my 2009 in on an older vehicle would be a good start. Well, used toyotas are not cheap. Looked at a 2006 4 runner. Nice vehicle and the v6 felt more powerful than mine for some reason. Seems kinda big for what I need, although way more comfortable.
I priced out some new off road models. Looks like 2k off sticker is what they will do. OR stickers around 30k, so I'm looking at 28k before trade. I owe a little over 17 on my trd sport with 37,000 miles. Trade in is roughly 23,000-24,000. I have to get my quarter panels fixed to get the full trade though.
At any rate, I'm looking at a minimum of 5k equity I think. With that equity I could roll into a new offroad model with 1.9% financing for roughly 400/mo over 5 years or 340/mo over 6 years ($200 extra toward interest for the last year). I'm currently at 2.9%. Starting over would add 200 towards total interest paid if I stick with 5 years. Not bad IMO.
Looks like 2011 models are pretty much the same. Really wish they would had gotten the 4runner engines for better towing. Prolly next year.
Would I be better off waiting for 2011s to come out for bigger rebates on 2010s? May lose the 1.9% financing though. I'm paying almost $500/mo now. Getting a new model financed over 6 years (that last year is small on interest) would be saving me at least $150/mo which is pretty substantial IMO.
So what would you all do?