Toyota Dealership Offering to Buy my Tacoma

I currently have a 2023 SR5 Blackout edition with around 38,000 miles on it. I owe around $29,500. I received a postcard from the dealership I purchased it from wanting to buy it back for "several" more than what it is worth. Now I am pretty sure my definition of several more is different that what their is. What would be the best way to leverage this in my favor and get the most for my Tacoma?

 

They're lying and at the end of the day you will end up with a truck worse than a 3rd gen

 

Have the written cash offers from five other dealers in hand.

If you go in on a postcard, you won't like what they have to say, and yet you'll be sitting at the finance desk wondering how you got there and why you are signing away money you didn't need to spend.

 

There is a sucker born every minute. They sent out the post card to 1,000 customers in the hopes someone will fall for it.

If they buy your truck from you, they are going to sell it for substantially more. That is what they do.

 

The best way to leverage this in your favor would be to sell it yourself and cut out the middleman.

 

So they are going to give you "several" thousand more than it's worth?
Sounds like a solid business plan. (if you don't want to be in business long).

2+2=5 here. Stay away. Far away.

 

I get that all the time, I threw it away. They wanted my 2007 Tacoma then they wanted my 2017.

 

You aren't going to win here. You might be getting what you think is fair for your truck, but paying more for a new truck, plus interest rates, plus taxes, etc etc. I would ONLY consider it if you are on the fence about keeping your truck and wanted to get another anyways, but don't think they are doing you a favor here. They aren't.

 

Bingo. Dealerships don't stay in business over paying

 

They had me in there a couple of months ago. I walked away because of the interest rate. I currently have 4% interest rate on my Tacoma. They were trying to get me to agree with 8%, I told them to "F" off. 2 days later the finance guy called me back and told me he burned one of his favors with Toyota and got my rate down to 5%. When I asked what my payment would be at 5% interest, it didn't change at all! I may have been born at night, but it wasn't last night, I told him the math isn't mathing he couldn't understand what I meant.

 

Of course your payment didn't change, but you just extended your payments out another year or 2. So figure in $750 x 12-18 or 24 months, you do the math there.

 

Keep the truck you have.

 

Are you not satisfied with your truck? Were you dissatisfied with it before the post card arrived? Are you hoping they'll have a sweet 1st or 2nd gen on the lot? Do you even need a truck?

 

The best way to leverage the value of your one year old truck is to keep it, and continue to reduce your debt until it is paid off. Then you keep driving it for several more years, and keep pocketing the money you would have spent on financing a new, much more expensive truck, and chuckle to yourself that you ever thought getting rid of your truck was a good idea.

 

Are you suggesting that someone BUY AND HOLD A TOYOTA? LUNACY!

 

2017 here, and im hoping to keep it another 10

 

I would 100% keep my 2023 SR5 if I were you

 

Wait u mean he shouldn’t sell the 3rd gen and finance a $68k 4th gen trail hunter?

 

Solid advice from everyone here, dealers are not in business to lose money. However, I did sell my 3 year old 2019 Off Road with 40,xxx miles on it for more than $3,000 than I paid for it. It was the perfect storm when inventory was very low. I know dealer lost $ on this single transaction, but in the end dealer always makes money.

 

3k over purchase price, or 3k over TTL+loan initiation?