Should I Trade in my Tacoma now

All, I have a 2006 Tacoma, SR5, double cab, 4WD, short bed, 84,000 miles. Frame was replaced in 2015 due to the recall. No accidents, in very good condition. Need help in deciding if I should trade in my truck now or wait. I know trade in values are sky high but seems like most new vehicles are selling over MSRP. In the near future, I'll need new tires, replace the foam in the driver's front seat, a new wheel bearing and a couple of other minor things. Just curious as to what you guys think. Thanks

 

Run it through KBB that's what I did for my 15 and got huge money with 91,000 miles on it with an accident even

 

You'll get a premium for your trade but you'll also pay a premium on your new purchase (if you can even find what you want). Sell now and ride the bus and you'll be ahead of the game. Probably be another 12 months before prices get back to normal.

 

kind of weird to ask on an internet forum since you're the only person who really knows your own financial and personal situation as to whether you need a truck

but like said above, you'll sell high but you'll also be buying high if you aim to replace with similar, so its a wash

 

Love my 05, keep it pristine
New frame, new suspension
Runs like a dream. And it’s paid for
Oil is full when I change it so no oil burn for me
Love my truck, paid for.

 

OP, unless you are trying to convince yourself of just getting a new truck you will likely find your wallet substantially lighter because license fees may go up radically as well as insurance. And those are not a one time thing in most areas.

 

I would seriously just do the repairs and drive it for more years.

The only "difficult" repair task is the driver's seat. Any upholstery shop can handle that in just a day or so.

All total, the repairs will be more affordable than a new truck.

 

Keep the truck and put a double din it it. Bang up to the 21st century.

 

So on a whim I KBB'd my 08 with 215K on the meter and it came back to $11k trade in value. Only thing is my truck is paid off and I don't really want another payment. I've been driving my rig since I took ownership of it at 77,000 miles. I've had no significant replacements/repairs and I simply replace things as they come.

I'd keep it personally.

 

It comes down to how committed you are to whatever you want to replace the truck with. But I cant imagine any scenario where this is a good financial move (sans really needing the money and have a free/low cost alternate).

Those repairs are nothing outrageous. Definitely not issues that would turn my thinking into a lost cause mindset. At least in my market, you have a $15-17k truck on the personal sale market and about $600-700 in repairs plus the cost of whatever tires you choose. You also have a 2-5 month wait for a new vehicle, and would be glad to pay MSRP. Or worse, end up paying dearly for another used vehicle with it's own set of issues and repairs that can very well be more than a wheel bearing and cosmetic seat repair.

 

Also it's definitely not a buyers market for vehicles at the moment.

 

If you are already thinking about trading it in/selling it then I would recommend just doing it. It is only going to devalue more as time goes on and you put extra miles on it, plus the cost of current or future repairs. Values are high right now so you are likely to get a good offer if you are patient and shop around. Just know going into it that other vehicles are going for a lot right now too.

 

No. The answer is NO !

You know what you have, 2006 Gen II is an excellent vintage and 84K on the clock means you have at least another 200K of trouble free driving. Don't play into these guys hands and believe me, Gen III is no bargain.

At least wait till 2023 and see what Toyota rolls out.

("gonna need tires" )

 

In my state, if you go new, license plate fees will be somewhere in the neighborhood of $400/$500, maybe more. I'm sure insurance will increase going from 2006 to 2021/22. At least for me, it's a good reason to keep it. Also, if you plan on buying new or used from a dealer then you'll have that issue to deal with and for me, I never look forward to dealing with used or new car sales staff.

 

OP, I find myself asking the same question. 2010 Prerunner Access Cab 2.7L 5MT with 155k and a new frame in August. My truck is in great shape with never an issue. I'm not sure I could get another one that's been this reliable. I keep thinking about getting one of the last Tacoma MT's if they do away with the manuals in the next redesign. Then I come back to my truck that doesn't cost me anything and should last a lot longer. You have a lot less miles on yours with a lot of life left. Best of luck with your decision!

 

You guys kill me... what you are wanting to trade is is a truck in the prime of its life. Unless you absolutely hate the thing financially it makes no sense at all to trade something with several years of reliable economical use left in it. Especially when there are no deals to be had on something new.
This is coming from a guy whose last new truck was a 1988 Isuzu. Take it for what it’s worth, lol. (I sold said Isuzu with 60,000 miles on it in under a year. And I never would have bought it except I won it in a Raffle). My average new to me vehicle over the last several decades cost $4000 or so.

 

I've heard it'll be 2-3 years more before things "settle down". Whether it's the chip shortage, general transport delays, etc.. all of it will impact prices.

I guess right now is a great time for someone wanting to sell everything and go live alone on an island, but you wouldn't need money to do that either.

 

Keep it and slowly do the repairs. Wheel bearing is not hard but can be a pain in the ass. Tires..look for some 3rd gen take offs to save some cash. Your seat is not hard at all ive had me seat apart twice in the last three years. Once to put heated seats in and recently to replace worn out bottom. If you’re like me . The wife has a new 2021 se corolla ands its nice but uncomfortable . I hate driving newer cars with all the sensors. More shit to go wrong..give it a 6 months and come back around to your plan and see how you feel

 

This is all by design. In 2-3 years we won’t recognize the auto industry if certain people get their way. I’ll stop there before I get in trouble…

 

I wouldn't be so sure of that, and if it does go up it won't be much. I've traded for newer vehicles before and had my insurance go down. The greatest cost to insurance companies is paying out for hospital bills and paying out in settlements when passengers die in accidents. You can kill and injure just as many people driving a $1000 beater as you can driving a $100,000 luxury car and cost your insurance company just as much. The prices they charge for insurance coverage reflect that.

The cost of replacing/repairing a damaged vehicle is minor in comparison. While the newer vehicle will cost more to repair/replace, the newer vehicle also has many more safety features which help prevent accidents and lessen injuries when they do happen.

But for a couple of reasons I don't think right now is the right time to trade. That ship sailed about 5 years ago.