To keep or not to keep?

Trading can be a smart decision when you get taxed on the difference financed (varies by state). You have to calculate your savings vs selling private and using that as your down payment. It's more beneficial to finance at a low rate and reinvest the rest of the money. Vehicles are a depreciating asset unlike real estate. As for op, since you have the extended warranty keep the truck unless if you get the issue again for a third time. As of right now the market for Tacoma's is highly inflated due to the shortage thus being a good time to be a seller. You have to make the final decision.

 

I started to save up for a Taco by putting away monthly amounts in a savings account. Then Toyota Canada came out with 1.99% financing, a lower rate by quite a bit vs returns from investments. It became kinda of a no brainer to buy the truck but in hindsight I probably should have/could have bargained harder but I made the mistake of falling in love with the first new vehicle that I have bought in 28 years.

 

It doesnt seem like you regret your decision so enjoy your truck

 

To you all that post "...sell truck. Buy used hoopty. Never buy new" I present Exhibit A:

https://www.tacomaworld.com/threads/what-did-you-trade-in-on-your-3rd-gen.678821/

COMMON THEME: "My old car was a steaming pile of crap and I traded that bomb in so it would be someone else's problem."

Special honors goes to post 156.

@Ob1-adobe you're a genius. What about that Nissan made you want to trade?

OP there is nothing wrong with dumping your truck and getting a brand new one that you have confidence in.

Speaking for me personally I'll gladly take the hit on depreciation to avoid paying good money for someone's turd that they flogged all to hell then unloaded on a dealer for the next hapless owner.

 

Learned this lesson the hard way with my first vehicle when I was a teen. Live and learn!

 

So after 5 days in the dealers service dept. I got my truck back. Drove it for about 15 or 20 miles. Getting to the fwy entrance the engine light turns on.. getting off of the fwy the track off light turns on... getting into my driveway the brake override malfunction screen turns on and the truck stalls .. had to have it towed back to the dealer.
Going to pick it up tomorrow. Supposedly they left a connection loose and is now fine. You would think they do this sh** for a living.

 

Oh, Man

 

So........ when it had to be repaired the first time, does that fall in the 'factory reliability' category?

No. It just falls in the 'stuff happens' category.

If you decide to move on, selling outright should always put you in a better position than a trade. You may have some time/effort involved, but it's usually worth it.

BTW, I'll stay out of the financing argument, other than to say I don't. As dear old Dad used to say, financing a depreciating item makes you a two time loser.

Before the Tacoma value fan boi crowd jump in, yes they hold value well, but they depreciate. Don't believe me, ask your insurance agent about payouts for totals for 1 yr increments over the finance term.

 

Given all the problems, you might want to try Carvana and see what they will offer. Hassle-free, and some have received (and taken) offers up to $8K over what they originally paid for the Tacoma.

https://www.tacomaworld.com/threads/carvana.678517/

 

The cult of Dave Ramsey is an interesting one. It's never situation specific, Dave is right in every single situation, and he's NEVER wrong. Jalopnik recently had an article where someone asked him if they should finance at 0%. He said no, they'd have to pay full MSRP and a cash buyer would get a better price. I wonder how he'd explain how I just helped my MIL purchase a RAV4 at invoice and get 0% financing, then? She gave up the $1,500 incentive, but at their figures if she didn't take the 0%, but took the incentive the total cost of the loan would be higher at their quoted rates, so it washed out.

I love in every thread there's always that "I bought my first home in cash at 17 with my paper route money!". Great, cool flex bro, more power to you, but there's a ton of factors that go into any of these arguments. Real estate varies hugely area to area, as does cost of living and wages. When I bought my home in the Northeast, it was a good deal, 3 bedrooms and a two car garage. If I looked in Houston, TX for what I paid for my home, I could have gotten a 5,000 square foot home with a movie theater in it.

Apartments around Boston easily can run into the $2,000 plus range a month. Do you live with your parents until you're 60 to buy your house in cash? This argument may have worked in 1970, but it's not working for the average person in 2020.

 

I was curious. So I run the vin on Carvana. They’re offering a little over 31k and my current balance is actually 15k and not 17. Still thinking. I’ll probably hold off for a few months.

 

I'm getting my timing chain cover fixed as we speak, hopefully they get it right the first time, definitely aggravating but like others said on this post, I'm going to let it ride out if it happens again. Mine was weeping for a year just a little grease on the front of the engine no big deal. Someone said rust prevention and they are correct That's going to be my route if it does it again, I used the extended warranty , I am at 90,000 mi.

on the financing, not sure how that started on this post since it was nothing to do about finance, do not drain your savings for a vehicle, the wealthiest of the wealth have tons of debt and do not use their money, do not listen to someone claiming they have a lot of money and pay cash for everything. They are very rare, listen to the ones that say use someone else's money, if you can pay it off no big deal if you have 300k in the bank and you want to pay $40,000 for a truck good to go, if you got $50,000 in the bank don't take 40,000 out to give to an automobile dealership

 

^ THIS X10000!!!