Good deal ?

Man, I waited forever hoping prices would come down. I really hate myself for not buying 3-4 years ago.

 

Yeah I got super lucky with buying at the right time and negotiating a good deal.

 

The real question is do you actually need to own a truck? Most people don't, it's just what they want.

The answer to that may open up many other options.

 

I bought the Colorado at a decent price. Owe $20000 on it now. It has 5-7000 in equity until used market tanks. And it will. So I trade/sell it off now or get it fixed for $5000 plus and hope it doesn’t have further tranny problems. They are intermittent at this point. But I’m over it. 2019 was one of the bad years for 8 speeds. Class action lawsuit is ongoing. But will likely pay $2500 at most to affected trucks, if you can prove it. Which requires spending money to do. Their magic fluid only fixed it for less than 20000 miles

 

The only thing that will make the used market tank is the new market dropping like a stone.

If that happens recent new purchasers with heavy financing can easily find themselves upside down. A time where a well structured lease might pay off.

However, there's a good bit of luck involved. I see new prices having some moderation, but not heavily dropping.

 

Wish I didn’t. But I regularly haul a dump trailer over 5000lbs full of wood from my northern property home to heat my house. Trust me, I’d rather buy a mid sized SUV. We have a Honda Pilot, but max trailer weight is 5000lbs and trailer tongue weight about puts it on the ground. Not a safe feeling with that thing.

 

My thinking also. My kid is in car sales. I tend to get the scoop on what’s going on regularly. Right now market is flooded with upside down/overpriced used cars. Plus the new model year Tacoma potential problems may hinder sales if they make the news, let’s hope they don’t. I’m going back to get more/solid numbers tomorrow. I have 800 plus credit. If the money factor comes out right, I’ll lease and leave option to walk away in 3 years at least. I’m definitely not putting money down on a lease. Either way I’d be making a payment on a truck with current truck or new. I’ve leased 3 in the past. My last one I sold the lease out early for $5000 more than payoff 10 months into the lease . Put that $ on my Colorado. So I’m ahead in the lease game currently

 

I can’t speak for your lease deal (it all sounds very complicated) or your trade in, but it’s very generous that the dealer is price matching as much as they are off of MSRP. I don’t know how common that is with 4th gen’s right now.

 

Everyone who says $42500 for a nicely loaded SR5 hasn’t priced the new ones yet I guess. MSRP on this SR5 is $46000. Only reason I’m offered that is because the base off road they I initially looked at was priced at $42500($44000 msrp) and I didn’t answer my phone when they called me to see if I wanted to put a down payment on it. In turn they sold it to a guy 20 minutes later. So they are honoring that price on available trucks in $46000 range that are coming in this month. I can get into another off road for that price when they arrive too. But they really have no add on packages to speak of. To get nicely loaded off road you anre into the $50000 plus trucks. Every truck on order is already sold here. And mine is the only dealer with multiple coming in anytime soon.

 

Dealer is chomping at the bit for used ones. All they have to sell for people who can’t afford/ don’t wanna wait for new. He has increased my trade value twice already. They literally have 8 new model vehicles, trucks, cars and SUVs combined. And that’s it. Nearest dealer after local has about the same and only 3 new Tacomas coming in

 

just get a lightly used gen 3 and be done with this chronicle. not very likely that you regret that decision. i just checked and theres dozens of access cabs/sr5's listed nearby for 28 - 32k

 

https://www.johnsinclairnissan.com/...crew-cab-pro-4x®-4x4-truck-1n6ed1ek9pn674409/

 

100% the next big crash is also going to have all these vehicle loans tied into it. The longer it waits to happen the more painful, and who knows how big brothers good ole boy system will work to bail out the big business friends.

 

I like it. I guess I’m checking out Nissans now too . That same truck here in Michigan is $2000 more MSRP. Basically same features I’m looking for, but has the off road extras too. Now to see what they offer for incentives here, if any ! Thanks I hadn’t looked at Nissan as Toyota has such a great track record overall

 

I would much rather spend $10k less and get a V6 right now over a brand new model year overpriced Tacoma. That V6 in that Nissan is a gem.

 

I definitely agree with the car loan thing, it's going to be a factor of some kind.

In 2021 I had a 2019 or 2020 Frontier DCSB rental for 2 months of the 3 months my 2010 Tacoma was getting reframed. That config is more than I need or use re the DC. That said, I liked the truck and would dig more into Nissan as an option (reliability, price, etc) if I was in the market today.

I identify with your current situation, my 2006 Colorado had the head failure and I got a beating from GM so badly I'll never buy from them again. Sad to see they are still having these issues.

 

I would happily lease a 4th gen. Just be aware of what the residual (buyout at the end) is. Most people that saying leasing is stupid don't truly understand how they work.

That way if the truck turns out to be a turd and the values drop, you just give it back.

In most lease scenarios, if you end up buying the truck at the end you spend a few more thousand compared to buying. Not really a big deal.

And for the "leasing is stupid crowd". Most financial advisors will tell you buying a new car brand new is stupid anyway. The first 2 years is when they depreciate the most.

 

The exception being most Toyota products.

 

Maybe 10 years ago. Not today.

 

Since when do vehicles have “equity” lol. Can you tell I’m in the “leases are always dumb” crowd?

At least when you buy a car you get to keep it. Leasing just means you still spend all that same money but you don’t even get to keep the “asset” at the end. No other word for it than “dumb”.

OP, I’d put that $500/mo toward your retirement but wtf do I know? Sounds like that’s some really really valuable firewood you need to tow anyway.