Need advice! 2019 Tacoma - keep it or return it....

I need advice and in general I am curious what you people think – recommend. I have a dilemma; I leased 2019 white Tacoma TRD Sport, 4X4 dual cab, short bed ($39k sticker price) I spent money for some additional accessories – LED installed across the truck, windows were tinted, bed liner mat and bed cover as well as weathertech mats purchased. Not to mention all the $$ spent for high quality detail chemicals.

I had some negative equity transferred from my other car that I traded in. Long story short – when the lease expires in April 2022, I will be left with 3-year-old Tacoma with approximately 30K miles.

I keep the car in pristine condition and have to say that Taco is never used as a real truck or off-roader. It is too big for my garage so it stands on my driveway. I use high performance waxes made by Ardex on it weekly. That include paste wax, sealants, tire moisturizers etc. This puppy never seen more than 4000 RPMs and it is driven super gently. In 2022 when lease expires, the car will be indistinguishable from brand-new (or at least close to it)

It is also worth mentioning that we recently purchased 2020 Subaru Forester Sport with all bells and whistles but for some reason the car does not resonate with me, the way Taco does.

Long story short, after the 3 year lease my buyout on Tacoma is set at $29.9K. Do you guys think it is worth buying it at that – rather high price? I can get nice used car for $30k – possibly even new one. On the other hand, Taco holds its value and I am the original owner with car being pampered from day one – it’s like buying new car.

There is some slight sentimental value – my daughter is 3 year old and we had very good time using the truck for picnics and other adventures.

My concern is the high buyout price, me being unable to garage it (after 3 years standing outdoors, any car exterior will degrade despite all efforts to keep it pristine).

My other choice is to wait until lease is over and get brand new 4Runner.

Please let me know your thoughts – I am honestly very curious what is your take on that and what should I do?

Sincere thanks!

Art

 

https://m.youtube.com/watch?v=XThjwTZEHrY

This may help.

 

You probably shouldn’t be spending money on accessories and “extra” maintenance items when you’re leasing.

 

Listen to Dave!

 

If you don’t use it as a truck, get something different that suits your parking situation. You seem to care for your vehicles, and appreciate having a clean car, keeping it in the garage will be great.

 

I am not giving financial advice over a Tacoma forum nor would I heed any. However I personally bought this truck to use it, not baby it. In other words you have it in your possession, use it, drive it, and make memories with your kiddo.

 

Thanks - I will watch the video later - once I am at home.
The question is weather I should buy it for $29.9k at the end of lease or return it. The reason I spent some $$ on accessories was that I intended to keep it after the lease but recently I am questioning that reasoning hence my post here..

 

I assume you leased to get a lower monthly payment. Adding additional months didn't lower the price it added weight to the financial anchor around your neck. You probably made a down payment of $3000 and then signed up for 36 months at $450, add the buyout and you will have paid $50,000 for the Tacoma. It's your money, if you're happy throwing money in the shitcan for a tiny bit of new car rush have at it. I would step back and evaluate the situation, sure $29,900 is a high residual but wtf is the difference if you turn it in and then go buy another used car for the same price. The residual price isn't the problem, the willingness to dig a deeper hole is.

 

@Gearheadesw I do not use it as a truck BUT truly enjoying the driving experience Taco offers despite some users complaining about transmission, under power engine, noise etc..... if I keep it, I would like to install nice Black Rhino rims with decent AT tires....I will admit that looks plays VERY important part for my vehicles.

 

I like your reasoning - actually I transferred like $4k from another car which made the buyout total so high. My problem is whether to keep TACO for that additional $30k (used car at that time) or buy new car for close to that price. Used Vs New.
Money spent is money spent - I can't do much about it...
I truly appreciate the honesty, directness and unbiased perspective.

 

I wasn't trying to bash you, as you said you can't do anything about the money already spent. You can look at the situation and come up with a resolution or a plan on how to avoid getting caught in an unending downward spiral. At the lease end you have to make a choice, buy it - turn it in and buy something else at the same price - live with one vehicle - buy a cheap used 2nd vehicle Nobody but you can eval and make the right choice. I suggest you look at it from a different perspective, which decision will leave me with the least regret later. Cars are a losing battle, the trick is to lose the smallest amount possible, best of luck.

 

Really, the fact you went for a lease is irrelevant to the ultimate decision: do you want to buy a used Taco with xxx amount of miles for that price at that time. Yes, it means you will probably have spent $50k on a Taco Sport, but it's just moving the numbers around. The lease cost is gone unless you get someone to buy you out now.

From a value standpoint, it would depend on the market. Right now, that's not that bad of a deal considering inventory. Before COVID or after? A bit high. But then again you absolutely know the history, you know the condition, you know the care that went into it. You have to decide if that is added value.

 

'
ABSOLUTELY no offense taken! On the contrary, very valid points you made! That's is exactly why I came to the forum for advice. We need 2 cars for sure and hardly anybody that I know of buys car out of necessity - sad but true.

Do I need a truck - Heck NO! (I will be the first to admit)
Do I like it - yes!
Do I like it for $50k - not sure....(once again - value game..)

 

Thank you - yes you get my point clearly!

There are some "ifs" in that :

When I decide to keep it - buy it after the lease - I will use it as my work car - 16 miles a day X 5 days a week X 52 weeks = 4160 miles a year. The 3 year old Taco will have 13k miles.
(right now Taco is being used as a family car so miles are adding up quickly - if the decision is to keep it, we would switch to the Subaru Forester being a family car and Taco would be my own - work car)

If I decide to return it - I will max out the mileage and stop spending money for detailing products, car washes etc.

 

You may want to consult a financial planner versus Tacomaworld or a guy looking to sell books.

contrary to popular belief, the internet is not a good place to help you make big financial decisions in life. It’s like taking political advice from a celebrity/sports player, or asking a lawyer if you should sue someone.

 

In April 2022 see what the book value of the Taco is and then make your decision .

 

You need to wait and see what the actual value is on the truck at the end of the lease. If the market value and redisual are about the same or even in your favor, might be worth looking into. But if the actual value is lower than the residual.....walk away.

As for spending money on it with care and accessories? That's ok if those things make you feel better. Nothing wrong with that.

 

Why?

looks like I quoted your post before you edited.

Why do you say this guy is fake?

 

True - however this is strictly theoretical issue. Once we look at it for financial perspective only - it does NOT make a sense to keep it AND buy any expensive car. Perhaps Honda Fit ($20k fully loaded) would make it? It will get me from point A to B. It has AC - decent amount of space.
All I am saying is the common sense, often fades away when car decisions are made. How many of us really need 40-50k truck? And if you buy one, why would you use your beautiful $50k machine to haul dirty things?
I think we do it because it makes us happy and we see some purpose in it.

I am Operation Manager and one of my production crew boys, purchased $90K Hellcat and when I asked him why would he spent most of his monthly salary on the car payment - he said "that what makes me get up in the morning and come here..."

 

Total BS: you can't love your truck as much as you say having never gone above 4000 rpm

I'd keep it - it's familiar territory for you and your family and it won't be long before you absolutely hate that Subaru trying to drive for you and beeping every 3 seconds

Are you able to back out of your driveway with the Forester without it auto braking from seeing its shadow? Tacoma FTW!