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

RUST GETS PRETTY BAD.. On my 2016 TRD I had surface rust on the weld joints of the frame where the body mounts are.. I hit them with the wire wheel on a drill, and then painted them.. I will probably do the same this summer, and I have a gallon of woolwax and the spray gun for it next fall.

 

@Scott17818 I missed out of the undercoating get-together up here this Fall :/ but will be using some steel wool & rattle can in the Spring

 

I've got family that work at a dealership, and when I got mine SE Toyota was offering end of fiscal year incentives on the '19s (2020s were about to come out) and employee discount pricing.
From what I've heard, there are no real plans to offer any worthwhile discount on the Tacomas in the near future.

I had a buddy who had his '17 get totaled and had a '20 built and delivered. It took 3 months.

Toyota generally don't seem to discount the Tacomas, and don't build a lot of excess units. Mine took 3 weeks to be built when I got it, as well.

 

more than welcome to join me.. driveway spraying... drop cloth for overspray, and bring your own gallon of woolwax.. clean out frame with air hose first, scrape any lose scale rust with a wire wheel, touch up paint if needed, then drive up on ramps, and spray woolwax/ FF to your hearts content.. (Thomaston, ME. I plan to do mine sometime around October/November Sundays - Tuesdays are my days off work)before it gets too cold/wet... I have a 30 gallon sears compressor W high flow fittings, so may require stops in coating every so often.

 

If you're in a good place financially, I'd say go for it. Whether you sell your current truck privately, or do a dealer trade-in...that's up to you and how the numbers compare.

If you have the will power to resist sales tactics, why not start a conversation with a dealer to see what kind of numbers they give you? Odds are, the longer you drag that conversation out, the better the numbers may start looking over time. In the process, they may also get a truck on the lot that's spec'ed out how you want...

 

@Scott17818 will take you up on the offer this Fall!

@TacoMamba35 I'm in zero NEED so no sweat on the long play with a dealer.

 

Fair enough!

I am much like you in being able to resist a "want" until it becomes a need". Thing for me is though...the longer I want it, the more it seems to morph into a need.

 

Haha yup! When I get too close to pulling the trigger I remind myself how much I enjoyed simplicity of the old '99 very much. Then I counter with "you're not a broke college kid any longer. Treat yourself (within reason)". And the angel & devil on the shoulders battle continues!

 

In this market, I'm not so sure selling yourself is that much of a slam-dunk. I traded-out of the '17 F250 (Gas) and the dealer offered $45K to buy and $45,600 to trade (the $600 covered their DOC fee on the trade). I highly doubt I could have gotten much, if any more selling myself and I would have actually had to sell it for +/- $47K to make up for the tax savings on the trade-in. I also considered selling the F250 and putting the cash in the bank, which probably would have been the smarter thing to do but if we all acted financially responsible, all the time, then our 70% consumer spending economy would functionally collapse.....

 

Why do so many people need help spending money? It's mind blowing

 

I think there is a $1000 rebate on Tacoma's currently

 

I have a dealership next to my house ... I walk through the lot weekly and they still have a poor selection of new trucks, and on some days more used Tacomas.

Still, I'm so glad my 2019 has seat warmers, dual climate, adaptive cruise, etc. Nice wants!

 

Absolutely. Dealers may actually lose money on a cash deal.

 

(Because they can't actually afford things and need to justify their expense)

 

Trade it, take the loan for whatever you have left plus the diff. Interest is cheap right now, I’d rather have the cash in the bank. Putting $5k or something down doesn’t significantly change the payment.

 

I was asking whether it made more sense to apply said cash to current loan and thus reduce the taxed sell price vs apply it as down payment in addition to trade in value.

 

Tax is the diff between trade in and sales price. Loan value doesn’t make any diff

 

Haha yes, I know. However, the less I owe on the current loan the lower the sell price...

 

.. the lower the loan value. The sales price of the truck isn’t going to change..

 

Yes. Big if but if all things being equal if I take, say 5k and put towards current loan that is basically 5k less I'm paying taxes on vs putting 5k as down payment