Got offered $13K for my truck

was that against window sticker, depending on what options on new vehicle or did they discount their vehicle and give you 22k for yours.any time you trade in a vehicle always negoiate price first, then you will know what they are actually giving you for yours. dealers are professionals, they are in business to make money, hard to get anything over them.

 

Don't know your credit situation or how many years left on your loan but if you're going to keep the truck you may wanna look at shopping around a little with other banks/CUs on rates. Borrowing $22k @3.5% vs 5.9% is only $24/month but would equate to $1,400 back in your pocket over 5yrs.

 

No, it actually wasn't a dealer trade in. It was an insurance payout after I totaled my truck. The check they cut me based on the current "market value" of the truck was 22k. And the truck had no options. Just the strip down mid level model. I guess dealer "market value" and insurance market value differ quite a bit (which is why they call it the stealership haha). So different circumstances, but i'm still surprised the values aren't closer.

 

Other brands of dealerships are not going to give you what you want for it. Since that you're not happy with what you're being offered then if I were you, I'd sell it privately. Yeah! It's a more of a pain in the ass, but you can get what you want. Toyota will be more inclined to give you what you want if you're going to buy another Toyota. Since that the other dealers are going to be taking it on a trade then they are going to try to get as much out of you as possible and sell it at the highest mark up with interest tacked on. Since they know they can get more for a Toyota, they're going to do whatever they can to get every dollar out of you.

 

I would never trade in a vehicle. It's like going to the dealership and saying "heres a 2 or 3 thousand dollar tip" and then buying a vehicle lol. They give you enough money that they can inspect it, fix a warn part or two, fully detail it, and then sell it for at least a $2000 profit. You can pocket that cash by selling it private.

 

and then spend it on the sales tax on the new vehicle.

 

I know dealers are crooks, I've dealt with a few over the years I just thought (wishful thinking) that my Taco would bring me more then the pathetic offer I received. Thanks for all the advice, I'll go back to square one & weigh my options. In the meantime I'll continue to enjoy my truck!

 

What number did you have in mind for the truck on trade in?

 

NADA had it listed @ $15,800 for clean trade-in, retail was $19,000. I was thinking at least $15K range. All it needs is detailed & put on the lot. It has a few minor scratches & 2 small dents but overall is in very good shape. I know they could sell it for $17+ easily, there is an access cab in the local area that has about 15-20K less miles but it don't have near the options my has, or 4wd & it's listed at $17,995.

 

If retail is 17K, you'd do good to get 13-14 on trade.

Dealer is not gonna take it in the shins on a 7/8 year old truck w/ near 100K on the clock. And if it's not off his lot inside 30 days the floor plan money will eat his lunch.

He'll probably wholesale it after 2-3 weeks and be happy to break even knowing he made money on the Pilot.

And no that doesn't make him a thief. It makes him a business owner trying to keep the lights on and take a few bucks home to his family at the end of the month.

 

Sounds low. My 2005 AC SR5 (not PreRunner) with 112k miles was stolen two months ago. Geico gave me 15.9k for it.

 

Geico gave you market value price. Different than a trade-in value.

 

Retail is 19K, not 17k. What he offered me was lower than rough trade-in price, & it's far from being "rough". I know they are trying to make money for their family etc, but I also know it's quite common for them to run u through the mill more times than not.

 

For comparison's sake, I got 17,500 on the trade-in for my 2007 SR5 4x4 Access Cab with 55K miles. Also note that I did trade at a Toyota dealership and for another Tacoma. I think that makes a difference too.

When I ran the kbb on my truck, the "very good" value was right at $17,500, so I thought I got a fair deal.

 

would you pay 19K for an 8 year old 2wd Tacoma with 100K miles?

 

btw, I checked out your truck in your pics...it does look real nice and clean.

 

No, because you can buy a new one for 3k more... BRAND NEW

 

No, lol but I was not expecting $19k, $15K would be nice though. I was attempting to save money for the time being but I DO love my truck so I'm gonna try to hang onto it. Thnx for the comments regarding the truck looking clean, I try to keep her looking good!