Trade in on 2024, ouch

Damn, looked at the value of my 2024 tacoma. It has 5000 miles, msrp was 45500. Offer is 36k trade in, that's absurd. 9500 down in 5 months and 5k miles, not what I would expect.

I was thinking about upgrading to another manual trd off road with the premium package, but at this point I'll keep what I have.

Anyone seeing the low trade value? With such a low trade it, toyota should be taking a lot more money off the 2025s

 

Too bad you don't have a 3G to trade in. Those things became instant classics when the 4G arrived.

 

Wasn't when I did mine. And that mistaken generation has been forgotten.

 

Sounds about right. Folks should expect that kind of "drive off the lot" loss. When new trucks are being discounted off MSRP why would you expect anything close to MSRP for a USED truck. $42K would have been new in the 2024 market and prices people were paying. That is the starting point. Minus another 7-10% seems about right. $36K might be a little low but not that far off. Put your VIN into Carvana and see what their trade value is. I have found that it is a touch higher than a dealer.

 

My last trade offer (last week on a 2025 with a $8k discount) of $37k with 40k miles on a 2022 would say otherwise...

 

Is that what a dealership is offering? Did you try Carmax or Carvana?

 

I paid 42500, 3k off sticker for my 2024. That's including the doc fee, only addition was tax on the 42500. I transferred my registration and plates from my 2023 to the current 2024.

A 9500 drop or even a 6500 drop if going by what I paid is too much for 5 months and 5k miles. When my 2023 was totaled at 13k miles, and the msrp was 40k, insurance paid me 39k for the truck. This was in August of 2024.

I used both toyota and carvana, I'll go try kbb now. I have heated seats and the big screen, with the manual transmission. But I would like the additional features of having the premium package, with the manual transmission of course.

 

Did you pay MSRP? If you did that was your mistake. The actual drive out price should have been closer to $40K. $36K on trade is pretty generous.

 

They’re in the business to make money. We have to think of what they’d be able to sell your used truck for, yes it only has 5,000 miles but it is still a used vehicle and when potential buyers come in there I feel there would need to be a decent price difference between yours and a new one or everyone would buy new

 

Why you trading in?

 

They can't get rid of the new ones, so the used ones aren't going to hold their value.

 

So you were thinking the trade-in would be higher than advertised selling prices for new Tacos?

 

That is why you are getting worked up. An insurance pay off and trading in a car is like comparing apples to oranges. Your trade value is about right. Cars are not investments and to think you were going to get a trade in value for $1K less than what you paid for a used vehicle just isn't going to happen. The WORST time to trade in a used car/truck is low miles less than a year after buying it. The huge initial hit is the second you drive it off the lot. Now each year the depreciation and trade in value will be a lot less.

 

That’s not absurd. Your truck can be bought new for $40k OTD, a trade in at $36k lets them resell at a lower cost than a new truck and allows for a slight profit.

 

I don't see any issues with 3rd gens, I paid $27K for mine new in 2019...

 

You might be missing some important and long-running business matters here.

The sticker price has rarely been the selling price except for unusual circumstances like shortages, new models or special editions. Even when demand for new was an issue in 2024 I was able to get discounts from several dealers. I also know selling a manual transmission is better if you get the right buyer vs dealer networks where they are not overall popular anymore. My friend and another associate a used car buyer and goes to auctions staff for years said their decisions need to be based on current auction pricing.

Another factor might be the rapidly softening market. We sold my mother's two cars and in January vs 2 months prior the dealer buyers all brought up already softening markets and now we have it worse.

Toyota's dealers and not the company do the discounting unless there is an incentive going on. Those can be dealer soft money, rebates, finance promos or just a particular sale etc.... When I was shopping even last summer one dealer said they'd discount a less popular color.

I was obsessed to not pay MSRP but in all honesty, my '24 OR long bed has been really good and maybe I could have lived with it but I stuck with dealers I knew pledged discounts from the MSRP.

 

Seems car buying and trading is back to normal.

 

Totally sounds right, even for a Tacoma.

First, it's a current generation vehicle. The previous Tacoma and previous Tundra benefit from a good reputation and not being made anymore.

Trade-ins are a case by case issue. Someone may say they got a lot on the trade-in, but it's usually because they are getting hosed on the new vehicle deal.

If you really want to know the actual value of your vehicle, try selling it yourself. You might find that the dealership is being fair, taking the hassle off your hands and possibly offsetting some taxes for you

 

You must have really weak negotiating skills.

 

Bless your heart.