Should I do this for a 2021 Tacoma?

So I currently have a 2004 Tacoma limited with 174k miles and a 2018 Accord with 26k.

I have been eyeing the 2021 Tacomas and recently went to a dealership to get some information.

Is it logical to sell the 04 Tacoma for $10,600 drop it into my savings, then trade in my Accord which they are given me $18,500 for and transfer over the equity into a new lease of a 2021 Tacoma limited for $380 a month?

I know it a bit trivial, but the things we do for Tacos.

 

I’d rather have no payment if there’s nothing wrong with your vehicles

 

You could put the equity and the money down and just buy it. If you can't afford the payment keep what you have until you can.

If you do what you said what will you do in three years?

 

first gens are so cool.

TBH if you own these I don't know why you'd give all that up for a glorified rental. Sounds harsh but that's kind of how I view a lease. We financed our BRZ when we had it we had pretty high payments but ended up getting a stupid good trade in, threw down 10k and we're driving a brand new rav4 for $250 a month. But I'm a little leery because after the lease is up I'm always wondering what we will end up doing afterwards. I feel like we would end up back at square one when we go to get our next vehicle.

$250 a month is nice but some of that money should be saved for the down payment on your next lease I think. This is my first time leasing.

 

Clean 04 taco! I'd keep the taco just for that reason.

 

i wouldn't do that for a lease. with good credit, you can finance about $20k over 5 years for around $360-$400 a month. that puts you at an out-the-door cost of around $38k (factoring the trade-in).

 

I'd keep what you have. No payments is awesome. Keep that first gen in top condition and just enjoy it. Everyone loves the first gens.

 

Keep the first gen, looks mint!

 

Keep it. If my 04 had been a four door I'd likely still be driving it.

 

Don't get rid of that 1st gen! The only reason I'm in a 2019 is that my 2003 got totaled. Miss it every day.

 

You were doing well until the “lease for 380 a month” part. Save your money and find a deal on an offroad either new or lightly used.

 

Nothing wrong with leasing, people don’t seem to understand finances and how a lease actually works if done right.

Looking at what you have though. If it were me, I’d keep the Tacoma you have now. Considering you have an Accord that you can drive when you don’t need a truck bed, you won’t “gain” much by getting a new Tacoma.

 

No, not for a lease.

 

Don't lease anything!

 

After my 09 was totaled in April, I thought about a new 2020. I mulled the cost of new and financing. I found a well cared for 2017 loaded with a ton of tasteful and expensive upgrades and paid cash. Now I'm just stacking cheese, prepping for the world to end.

 

So you’re looking to get rid of a super clean first gen that’s paid for, to get a truck that wont actually be yours when you’re done with your payments?

I’ll never understand a lease unless someone is backwards with a lot of negative equity (from poor choices or bad luck) and needs to unload that burden. This doesn’t seem to be the case so personally, it sounds a little foolish. Especially since the buyout on a tacoma at the end of the term will likely be so high if you wanted to keep it that the lease won’t help you in the least.

 

my biggest regret is trading in a paid off, reliable vehicle. let alone you have TWO. dont do it

 

Not for a lease, I would stick with what you currently have.

 

Keep what you have, the looks mint! If I could have found a clean first gen that wasn't crazy expensive I would totally not be driving my 3rd gen.