Cash in hand towards current loan or as down payment on new?

That depends on how taxes are done. Here in GA I'd have to sell my truck outright for 10% more than they offered in trade just to break even. And when you factor in the hassle of selling outright I'd want at least 20% more for it to be worth my effort.

Selling a vehicle can be a PITA. To get 20% more than a dealer offers you in trade could take months and if you need to sell before you buy another vehicle good deals could be passing you by. And if you buy new first and try to sell later you're paying insurance, car payments and maybe taxes on 2 while you wait to sell it.

Then there is the hassle of advertising and trying to meet people who either don't show up, end up not having the money and constantly trying to low ball you on price.

In my experience a vehicle worth $5000 or less isn't too hard to sell and you can demand cash. The difference it makes in taxes isn't great enough to be a deal breaker. But when you start trying to sell a vehicle worth $25K or more I've never felt like I could do enough better by selling myself to be worth the effort.

 

Hmmm?! 40k for a truck or maybe a couple hundred and some of your time to install seat heaters. I know what I’d do.

 

And here I expected to be surrounded by "yes men" and I'm getting sage financial advice...damn you??

 

I installed these they're great, but I found the ones that came with the toyota switches and they fit perfect

 

Thissssssss^^

 

As someone getting arthritis in the hands, I really like the heated wheel in my girls Kia.

 

Now is not a good time to buy a new truck. Depending on where you live prices are high and inventory low.

 

It is an interesting debate. It shows how tax structures manipulate things in ways that are often hard to predict. Kansas has a similar situation where if you sell or trade has a big impact on the sales tax of the next vehicle you buy. The car dealers and car dealer associations are big donators to state representatives. Shrug.

If I was you I would also factor in that the next generation Tacoma should be in a few years. You might want to wait for the next generation.

 

https://www.ebay.com/itm/252186496204?mkevt=1&mkcid=28&chn=ps these guys look similar to mine

 

In my experience, cash in hand is a strong negotiating point with dealers that run on tight margins with new car sales. Cash in hand is a liquid asset for the dealer. To get the cash that’s tied up in the vehicle’s value, they have to sell it first. I’ve always been able to get the dealer to come up on trade-in or down in vehicle price by offering a cash supplement to my trade-in vehicle. Usually, I plan to use the cash no matter what, but I don’t tell the dealer until we’re close on price. Then I say something like, “you come down $500 on the truck, and I’ll chip in an extra $1000 in cash.” My Taco is my third dealer vehicle, and I think that’s worked every time.

 

@IndyTac Nice. Have to play your cards close to the chest! I'm not looking to hit a monthly # until I hit a price on a new then price on trade-in.

It isn't solely about the seat warmers. Sunroof, dual zone and "leather" (two dogs, one that sheds A LOT) are also contributing reasons for considering new one. To be fair, they're all wants and not needs.

 

Carvana was the go to for selling quickly and getting a decent deal, plus, depending on where you live, they will come pick it up.

 

I’m really happy with my 2021. Pretty nice improvement from the 2017.

 

Leather heated seats with a sunroof was a need for me.

 

I disagree that a "cash" deal is a strong negotiating position with a dealer, particularly on a new car. The margins are typically low on new sales (I know there are outliers, like hot-selling cars that can sometimes command ADM). Dealers make more profit in the F&I office than they do selling cars. Every car deal is unique and you often have $500/$750/$1,000 incentives for factory financing...but those deals require top-tier credit score and the rates can be higher (nothing is free). I've purchased a couple vehicles where I took the financing incentives and then simply paid-off the vehicle when the first payment is due (make sure to read the fine print as some of the factory deals require keeping the note open for at least 90 days). I'm not in the car selling business, but I've bought quite a few over years and I've never had a dealer get excited about a cash deal. In fact, I think you will find that most "experts" will tell you never to walk straight in and say you're a cash buyer. Always try to negotiate the price first. Of course, there are differences of opinion and some may disagree with me....to each his own and the decision is ultimately yours to make.

 

Frankly, I'd keep the 2017. Apply your cash to the existing loan.

If you want heated seats, there are heated seat covers.

Dogs can damage leather. You would likely do better with a cover made from material like Carhartt uses.

Dual zone climate in a small cab....... not particularly effective. The space is too small. Temperature will equalize between the "zones".

 

Caveat to all this is I'd have to "order" what I want since none in Maine & I want a specific color. So my negotiating the price on new is severely hampered I'd think.

 

Often banks don't want to loan the kind of money that your truck may bring on a private sell. Especially, when one can buy a new vehicle with very low interest rates, have a warranty and maybe, for not a big difference in monthly payment ?

 

Ask several dealers. I've special ordered 2 vehicles from the same dealer but they are a 1 price shop, and don't "haggle". They sell for what they claim is Invoice + any rebates/incentives. The benefit is they sell a special order for the same as they would a unit sitting on their lot. Sure, I could probably find a bit lower price, but that invariably involve a vehicle that didn't have something I wanted or one that had options I didn't care for. It is nice to get exactly what you want and nothing you don't.....but not every dealer is on board for special orders as I have had more than one refuse without a hefty deposit.