who has trade in knowldge/expierence??

As long as it ain’t coming out like this:


They don’t give a shit about if you changed it or not.

 

the only good you will see on a trade is you don't pay taxes on what you make on the trade. I got 33k for my 14 FJ UTTE and put that down on my 34k 17 TRD so I only owed Tax on the remainder over my 33k trade in other than the tax savings your better off selling
privet party and take ur truck to carmax and use there price to drive up toyota's price

 

Went to dealer for an oilchange. Walked around the lot. long story short, Traded my highlander to tacoma. I ended up owing $7k for highlander which they put on top of the tacoma’s price tag. For me it’s worth it because I fell in love with the tacoma. but in your situation, It’s same truck so you will lose more (as usual) Unless u picking up offroad instead of pro, then it might even out

 

you rolled over 7k on top of the tacoma price? holy crap! thats nuts.

 

DON'T DO IT! Pay it off, then trade. Imagine what could be on these trucks in a few years. Maybe 4th gen? That trade will look a whole lot better!

That's alot of stupid tax there!

 

That’s called getting fucked.

 

Sell it yourself. The sales guy (if he is good) will hold back on the trade acv (actual car value). That puts money in his pocket. Say he gets 25% of hold back and holds 2k. He just put $500 in his pocket.

 

You can get a very good estimate from KBB or other online sites with respect to trade, private, resale values. Be realistic with what you should receive, these people are in business to make money selling cars, they can’t give you full retail, they need some meat on the bone.

It does put you in an interesting negotiation scenario. I’ve done this twice before, trade in a vehicle roughly 4 years old to acquire the same exact vehicle, just newer. In both instances, there was very little negotiation. It was me walking in or calling, knowing the realistic number I would receive for trade and then I knew the percentage I could get off of the new vehicle via past experience and forum research.

There is not much room for a sales person to mess with numbers in this scenario. If they lowball your trade then how could they possible sell you a new vehicle for “that much” right? and on the other hand, if the new vehicle is “that much” your trade surely has to be as worthy with respect to use.

Finally...do expect them to hound you for extras and warranty. Since the numbers have to be honest in this model for model scenario, they are going to try to get some money out of you elsewhere. Don’t fall for it, did you need all those extra fees on the one you plan to trade?

 

I worked as a Finance Mgr and Sales Mgr in the car business for 25 years. One thing to consider is your tax situation. Your profile says you're from New York. I live in Illinois. If I trade a vehicle in I only pay sales tax on the difference. So if the truck I'm buying is $40k and they allow me $30k for my trade, I pay tax on only $10k. Not all states are like this. You should know that before you go in to the dealer. But in reality, that is what it is, no getting around what ever your state does. Going in to a dealership, especially larger dealerships, this time of the month can be advantageous to you. ALL dealers and salesmen have monthly goals. In the car business, everything revolves around the month. More than likely your salesperson is on some type of a bonus program where he gets say 25% commission up to 15 cars sold for the month, then if he goes over that his commission may go to 30%. The sales mgr may be on some similar plan. If the store hits 200 cars in a month he gets a certain bonus. Just throwing numbers out there. All stores are different. A small town store may have a goal of 75 cars for a month. But ALL dealerships have something in place like this. That's why this time of the month is beneficial to you. And usually they will tell you straight up. If a salesman tells ya "hey, I'm 2 cars away from my bonus, I will work my ass off to get the deal you want on this truck!" That is not just a line. TRUST ME...I've been there!

As far as trading a pretty new vehicle in for a brand new one. Sure, ya take the initial hit. They can't give you 'new' price when you trade and come out. Some dealers will lose money on a stale unit or bastard unit, but that usually doesn't include Toyota dealers. Escpecially on Tacomas and hotter vehicles. UNLESS they have left over '19s in stock and '20s are rolling in. Also, work a couple dealers against each other. Each dealer gets what they call a cross-sale report. It shows new car registrations by brand by town/city/suburb, etc. The owners HATE seeing new sales of vehicles the same brand they sell in their sales area when they didn't get the sale.

Good luck!

 

I would not even entertain the extra negotiation and time-wasting that will happen with a direct trade at the dealer. Unless you like that sort of thing (and some ppl do), sell it out-right or at CarMax as mentioned.

 

No where does that say they checked the oil.....

 

Try and do a private sale. 100%

 

Also - I haven't looked up the NY state tax laws, but in TN I know you save the 9% sales tax on the trade-in value, so while generally speaking it's best to sell private party then buy the new one outright, depending on your situation and local laws, it can actually make your OTD price more favorable or at least comparable to trade it in even if they offered you X% less than you could sell it outright for and you'll deal with less hassle and paperwork.

I wouldn't trade it that quickly though personally. I've considered trading my '17 in for a '20 for the upgrades (OR, not a Pro mind you) but looking at the depreciation plateau Tacomas hit generally between years 3-5 of ownership I've concluded that it would be pretty frivolous to trade given my truck's value won't be massively less 2 years from now than it is now with similar 15-20k/yr mileage

 

Most important thing to remember ***** NEW CAR DEALERS make MORE money on their used car sales than on the NEW unit sales ****!
Has anyone ever seen a new car dealer WITHOUT a USED Car sales section ? I never have in my 72 years of life!
When you trade in, the profit for the dealer averages $2500 - $4000 for your trade in. This was according to Consumer Reports 3 or so years ago.
I don't care if you like/trust this source, but if you can find a car sales person to be HONEST with you -- they will tell you the same.
FWIW -- I have never traded in a vehicle -- always sold to a private party -with great success!
Some states make it more difficult to do private sales, I know this, but in MO. this is not the case. All it takes is a little work on the sellers part.
GOOD luck with your endeavor!

 

Please correct me here if I am wrong, but they will still make a nice profit on the unit that is traded in ! Right?

 

Not necessarily. If they have similar units on the lot already they may take it to the auction and dump it. SMALL dealers that can't afford to put their own cash in to high-dollar late-model trades will get buy bids from wholesalers before they ever start giving you numbers to trade. Toyota(and all manufacturers) will floorplan NEW vehicles for a period of time. In other words, when the truck drops off new vehicles the dealer does not have to pay for them right away. This floorplan period can last up to a year in some cases. HOWEVER, when they trade for a vehicle, the money they put in to that trade is right out of the dealers pocket book. And yes, in some cases, they may make good money on your trade. There was no better used vehicle on any dealer's lot than a late model, nice, clean 4x4 truck. So most dealers will step up on those type trades. CarMax however will lowball the hell out of you every time. I never lost a deal for a trade where someone checked with CarMax. In fact, I encouraged them to check CarMax cause it always made my deal look very appealing. ESPECIALLY when you take in to account the tax savings in my state of Illinois.

 

Just traded a 16 in for a 19 offroad 4x4, got a good sale price first then started on the trade. They tried to offer 13k, but I showed them a carmax quote and they immediately beat it and got where I wanted. They will always try to play games and mention the tax thing (only a few hundred depending on what you owe) but if they wont get in your range just walk away.
I made sure from the first minute that I still like my old truck, and will only upgrade if the price is right or I'll wait till it is.

 

The tax you pay on a vehicle when you trade has NOTHING to do with what you owe on your trade.

 

My understanding (for Florida at least) is that you pay sales tax on the sale price, minus the trade equity value.
So if I paid 30k for a truck, got 20 for trade and owe 10, I would only pay sales tax for 20k.