Should I trade in with current market?

IIRC.

This type thinking placed many people upside down on their houses a few years ago. Owing more to the bank than the worth of the house. Shortly after the market went into the toilet..........

Good Luck.

 

I agree, but I'm getting crawl control, MTS, and a locker which i dont have currently and a brand new 0 mile truck for $3k. You wont find a price gap that small in any other market. I have 50k on my truck now. If i keep it ill be at 100k in 2 years. I'd rather restart now.

 

You are not going to get it for 3K probably more like 7K .

 

If thats the case I wont make the trade. Going in today to see what they say. I've been with this dealer for 5 years and they usually treat me really well.

 

What state are you in? Just curious what your taxes are because you keep saying $3K difference but that was just sticker price difference not including all the extra BS taxes (as others have said).

 

Yep, its only worth more than you paid if you sell it without getting a new vehicle

 

GA. You dont sales tax on the trade in value

 

Ok that’s a lot better but it’s gonna be more than $3K, albeit not much more but dealerships always find a way to make the anticipated price higher. Just don’t wanna see ya get screwed over boss

 

Yessir ill get the out the door price in writing before I do anything. Thanks for looking out!

 

I can only say when using NADA there values are way high on my truck. Higher than any other source Ive checked by far. I would b surprised if a dealer would actually offer that amount on trade. Unless they were adding a discount off of the new vehicle.

 

Isn’t op supposed to slay his own truck out of the wild? Like a stagecoach robber, steal it right off the transport. I mean, it is The Nuge. Pssh trade in. Do it. But don’t tell anyone it’s because you wanted crawl control.

 

Hahaha

 

It's really not a valid comparison to equate market conditions and value for real property to personal property such as vehicles. Today's market for both new and used vehicles is a function of low supply and high demand. The housing market problems and the subsequent crash in 2008 were caused by a much more complicated set of dominos all falling in succession. That said, you are correct in that one does have to think 2 or 3 times before buying anything in a high demand low supply environment to make sure the transaction makes sense based on your requirements and needs. Also, where as the housing crisis was more national, the supply and demand issues for vehicles appear to be more regional. Supply, and therefore prices, are better/worse in some areas as opposed to others. Could be that the OP lives in an area where there is better supply, or is dealing with a high volume dealership that gets a bigger allocation and therefore has more price flexibility. We can all sit here an analyze the crap out of this for days, but the bottom line is if the man wants a new vehicle and has the money, and his significant other isn't going to make him sleep in it for buying it, buy the truck and be happy

 

if it was only going to cost me $3K - $5K to swap out a truck a few yrs. old, with 50k in miles on BRAND NEW, PLUS you're getting a few new options. No brainer man, jump on it.

 

If you can afford it why not get the new truck if you want? I just did this a few weeks ago. I traded in my huge 2019 F250 that I no longer needed since I sold my street/strip '69 Mustang that was towed to the track. Got a really good deal on the F250 and picked up a 2021 Tacoma. Saved over $2000 in sales tax since the trade in covered the cost of the Tacoma (so no sales tax) and got a big check from the dealer for the balance since I never take out a loan to buy a car.
You only live once so as long as you don't overextend yourself financially, go for it if you want.

 

still paying $45k for a Tacoma..no thank you.

 

most people are really not good with money. Trading in their vehicles every few years to get a model with a few more bells and whistles. No wonder the average American has very little save for retirement.

 

The way I see it, yes it's $45k for a taco, but they aren't coming any cheaper right now. Sure I could put that $10k into investments, but there also runs the risk that I'd have to pay for repairs for something down the line which would eat into that. At least with a new truck, I don't have to worry about anything for 3 years (consumables aside), and can freely invest after the fact. Just trying to be logical right now, and at the end of the day, if I put $37.5+TTF into two tacos, I think that's actually quite nominal.

 

Then why are you asking us?

 

If you can Buy a 2021 with $3,000 out of pocket I would run to the dealership forget about MSRP
. You just look at the cross between what you have and what you want and that's what you pay. If it's only $3,000 I would jump on it.