Trade in 2018 4x2 for 2020 4x4

Hi guys,

Just wanted to see if anyone had any info on the possibility of this. I have a 2018 TRD off road tacoma 4x2, taking it out time and time again, I was looking at trading it in for a 2020 TRD tacoma 4x4. The thing is my monthly is already so high, im curious, if anyone here has done a trade in similar where they were able to stay at about the same monthly payment, or maybe go a little higher. My truck now has 35k miles on it. Sorry if this is a dumb question but you can't always trust dealers. I called them, and the guy said "ill take care of you and you won't leave dissapointed". Sounds too good to be true lol

-gq104

 

Sell privately and buy a used second gen you can actually afford.

 

I am sure dealers would love to extend your monthly payment at the same rate.

 

what do you mean Mass?

 

He means take your 500 a month for 5 years and make it 500 a month for 7 years (or whatever). In other words, gladly take way more of your money.

 

Yeah what Buzzard said, extending vehicle payments at the same rate is a very common sales strategy.

 

Just traded my 17 4x2 sport for 20 off road 4x4. Had to put 1k down and payment increased by $20 monthly. Make sure the cost of the new truck is not too high. Having some equity in your trade in also helps.

 

they can keep your same monthly but they'll just tack on another couple years to the loan. up to you if you want to keep making the same monthly payments even longer.

 

The payment isn’t going to get any cheaper. Unless they get you into a lease instead or you out money down. All you’ll be doing is Increasing or extending The payment. If you don’t need the 4x4 or use the truck to make money, your best bet is to just stick with what you have and kill some of the loan off first.

 

Excellent advice.
OP, don't fall into the "your payment will only increase by 20/month" scam. Your loan clock resets to 0. Stop giving banks your money in interest while you finance the most rapidly depreciating thing you will probably ever own.

To quote Dave Ramsey- "broke people ask how much a month, and wealthy people ask how much."

 

you guys are awesome

 

Forget the payments difference.

How much was the first truck in total?
How much did they give you for it on trade in total?
How much was the new truck loan in total?


If it was something like 36k - 34k - 38k then you lost 2 grand out of nowhere on the old one and will pay 2 grand (well over after interest) more on the new one.


The ONLY number when buying and selling is the TOTAL number. That’s it. There are no other numbers to discuss.

 

I just saw a 2015 TRD Sport DCLB for sale for 19.5k here locally (almost bought it but waiting for my other Toyotas to die already).

New ones are about 38.5k to 42.5k here. That’s 19 to 23 thousand dollars saved.

Don’t. Buy. New.

 

You won’t come out on top in this deal. If you have room to pay more for what you want, then nobody is stopping you.

If you already say your monthly is too high, it will not get lower; and likely won’t stay the same without some form of hefty down payment.

I had a 16 SR5 4x4 and they offered me aN 18 TRD OR 4x4 so I went to talk with them. They tried to jack up the costs so I walked. They called back 10 minutes later with new terms which I further pushed down to where I wanted them.

that was around the time they were selling 10k trucks a month and were pushing to finish out the quarter so I was able to haggle. I know not many trucks are moving right now so they could be greedy or you could find some room, I’m not sure how they are handling everything right now.

 

Sounds like you don't really need 4x4? Why throw away that money, you are more than likely gonna lose on the trade (used values / trade in value's are at an all time low right now), even if they do keep you at the same payment you are now extending the life of the loan and likely accruing more debt or putting down a sizable down payment, rolling over negative equity, etc. I'd say unless you need it or just want it and have the money to dispose with stick with what you have, we have no idea what is in store in the current economic climate.

 

I'm of the opinion that if you need a car loan, it's because your can't actually afford the car. If I were in your shoes, I would think hard about selling your current ride and getting something you can buy in cash, maybe a first gen Taco with a clean frame.

 

Pssst.... logic doesn't always work. It's usually want vs. need, once they enter tacomaworld...

 

And I totally get that, we all fall pray sometimes to non logic, just giving him some keyboard encouragement. But ya this place doesnt help, just saw that post about a guy wanting to finance a built TRD OR stating "I want this truck", was a decked out TRD OR w/$20k of mods, and he didnt have a reason for any of them.

 

Don’t do it! It’s going to be $20-70 more per
Month for 2 more years at least.

so you’re probably gonna pay 500-600/month for the next 6 years? On top of rent/mortgage/insurance?

don’t do it young grasshoppa!

 

That aint nothing, I know of plenty a stories of $850-1000 month payments on Tacomas, Tundras and even Highlanders...