To trade in or not

I currently drive a 2007 extended cab TRD Off Road with 69xxx miles, bought new tires last year, it has a few minor scratches but could be buffed out, other than that its a good truck. I owe about 12 grand on it, but im sure its worth a little more on trade.

I really like the '16 Sport model, Other than I like the sound of owning a new vehicle, is it worth it?

So far how many have traded in there 2nd gen? and are you happy with your decision? Also what do you guys think of the new seating position?

 

It's your call but you still have alot of life left out of your current truck. Is the 2016 nicer? Yes but is it 20k of more debt nicer? IMO that's a no.

 

Tacomas a Golden on the used market. Make sure the tires are good , spend a little detailing it and look for your truck used on the services like Cars.com CarGurus.com AutoTrader and price your truck well under their asking prices. You will sell it fast. I never trade Toyotas, Hondas, Corvettes or Miatas, Have sold them all privately for thousands above trade value. Quickly.

 

Depending on exact options, is it 4X4, etc., it probably won't bring much more than $12,000 in trade. You'll end up financing almost 100% of the cost of a new truck. My 07, 4X4, DC has about 90,000 more miles on it. I bought it new and it's been paid off for a while. I plan to keep her at least 2-3 more years and will think about trading at 200,000-250,000 miles.

Wouldn't be worth it to me. If you had a clear title and could get $12,000 in trade it'd be a consideration.

 

^ this dude has had 3 tacomas in like a year lol, and just pays another 5k everytime for one. His situation may be different than urs but debt is a dumb thing to have especially when its a want and not a need. Not that much changed on the 16s to be honest.

 

Are you certain you are going to get something from the new truck that you don't already have with your current one? If not, then financially it doesn't make a lot of sense to sell it now and get a new one unless you have a really good reason for doing so. Think about it this way: if you were to buy your truck now for what you owe (which is exactly what you are doing, you're still buying it) is that a better deal than the deal you will be getting? It probably is. You're kind of in the sweet spot of ownership where you're paying down debt but your truck isn't losing much value while you use it. On a new truck it takes about 2-4 years to get to that sweet spot. On a really old truck with high miles you lose money every time you do maintenance. I would keep it if I were you.

 

i traded in my 2008 4dr trd 2wd v6 i paid 20K 4 1/2 years ago it has 35K miles on it the dealer gave me 19,800.00.....that was the deciding factor to buy my new one. plus you will not pay sales tax on the amount of the trade in on a new truck.

 

If you're in a position to buy a new truck and you want one then I say go for it. Your trade is worth $14,000+ trade in all day.

 

Exactly. If you're in a good financial position to do it. Then do it.

 

I traded a 2013 for a 2016, so it was worth it to me. I love the new truck... A lot.

However, if I still owed 12k on an '07 I wouldn't do it. The tacos hold their value extremely well, but trading up regularly is only something you should consider if you aren't financing your flings IMO. I agree with the others, just drive the wheels off of what you have.

 

No "this dude" had an 08 he paid $20,500 for a few years ago and sold it for $21,000 a couple years later, This "dude" bought a used 14 TRD SPORT with 19K in early 2015 and paid cash I decided the next day I would offer the dealer $4000 to take my 14 and for a brand new 15 TRD Sport and made that deal. Just in case I did not like the 16s,

When the 16's came out I decided IF I could buy a 16 with $3000 in options over and above what my 15 had for a total of $6000 more out of pocket I would do so.
I HAD to sell the 15 privately to make that happen. Sold my 15 in less than a week. A trade of the 15 would have cost me well over $8000 and nixed that deal. Instead I decided not to pay cash and financed $28500 for 30 months at 1.5% using PenFeds money,

Yes we have a $300 sales tax cap so I don't pay $2000 every time I buy any vehicle . Advantage me.

But Anyone with any modicum of knowledge about buying and selling vehicles will tell you NEVER trade a Toyota or Honda. One can always sell them quickly and for far more than the dealer will offer in Actual Cash Value which is not the number they show on the buyer's contract. Sellers never know the ACV unless they sell the used truck outright to the dealership THEN buy a new one.

When people say "the dealer gave me $XXX for my trade, it means nothing. No one knows what the dealer will actually book the trade in at.

So yeah this dude knows what he is doing all the way to the bank.

 

I sold my 2006 tacoma Sr5 4x4 for 15000. Dont trade it in sell it to an individual and get more for it.

 

my 2006 tacoma had 130000 miles on it also

 

I am also trying to decide if I should trade. I have 06 Trd sport 4x4 AC with 217000 miles. It is in pretty good shape for a truck with that many miles. How much do you think I can get for it in a trade

 

lol ok... so what did it cost you to go from ur first tacoma to your current.

 

Dear 'ole Dad used to say "when you are at the bottom of a hole, quit digging".

Debt is a hole that's good to get out of. Not go deeper.

That said, free will and all that. So if you must, spend some effort on prepping your truck and sell it yourself. I don't care what the dealer 'tells' you they are giving you, they aren't.

 

$35,500 OTD for all of them. Some people are paying that for just the 15s. You tell me how much someone would expect to lose trading a 14 with 19K to a new 15 then to a new 16 with P&T JBL. I would say far more than $35500K There is a cost to be expected for stepping up models rather than keeping older trucks. I can afford a new truck every year and will do so if it costs $5000 out of pocket. That is less than a lease cost. I have a dealer who sells at Invoice or $500 over to me. We are currently looking to get a 16 RAV 4 and sell the 14 CRV.

 

ur the man

 

True. Cost me almost 39k for a 13 and 16 (both loaded ORs) 1.5k+ of that in taxes, though... But not a dime in interest.

 

Bought my 2007 on Dec 3rd 2014 for $18,000, put almost $20,000 into it since purchasing it. Should I trade it on a 2016?