Keep or Trade?

I own a 2009 Tacoma TRD Off Road in Barcelona red. I love this truck! It has been well maintained and is in very good condition however the paint on the roof and hood has started to peel or fade in the last year or two. The vehicle has about 181,000 miles (I know it could go a lot more but I feel it's resale appeal will wane soon at 200K). Here is my dilemma: Since 2020, I've been agonizing whether to trade it in for a new, next generation Tacoma TRD. I see them on the road all the time and always take a second look. I've been shopping on-line and sending inquiries to various dealers (for two years!) but cannot seem to pull the trigger and buy (I came very close a couple times and even took one home overnight). Side note, I'm kicking myself for not buying in 2020 when prices were low and Toyota was offering $1000 incentives. Anyway, here I am trying to decide whether to keep my 09 and maybe get the hood and roof repainted ($1700) or trade it in for a new one (unfortunately around MSRP). I am also agonizing between metallic silver and metallic gray (my wife and daughter like the gray). I guess I don't care between another Off Road or a Sport even though a Sport would be different than what I currently have. Another thing, I don't owe anything on my 09 (and I get free lifetime oil changes from the dealer) but a new Tacoma will result in a $30K car loan. Finally, there really isn't a ton of differences between my truck and the new generation and honestly, I like my truck's upholstery better. I also like my Barcelona red better then my second choice of silver or gray (I would not buy the red again since I would want a different color for sure.). Do I keep or trade-in? What is the reasoning and rationale? HELP! I can't agonize for two more years!

 

Hard to say really. If your 2nd gen isn't giving you any issues, I'd say keep it until the market cools off but who knows when that'll be. Looks great for an 09. Welcome to TW! And is that an Air Force sticker I see? Aim High!

 

Buy a rattle can of clear then drive it for another 8 years; the 2030 Taco’s should be pretty good

 

Put on your big boy pants and decide.

Tomorrow call a body shop for a paint work appointment.

Or go to a dealer and make a deal.

Me? I hate debt. I'd get the paint work done, start making those car payments to myself, drive it 2 more years, then see where life has you.

 

1. If you can’t pay cash don’t buy. 2. Drive another 10-15 yrs. Invest the payment. You’ll be a glad you did.

 

Hell with all that
Buy that truck you want, enjoy yourself you deserve it. Get the new truck and go on vacation maybe get a little strange poontang.

 

Not necessarily good advice when you are able to borrow money at 2% interest and earn much more on your investments.

In normal times, especially with most any other vehicle I'd say trade. At this point normally, you'd get at least 1/2 of your initial investment back which would mean a significant down payment on the next one and a short term, low interest loan would most likely cost you less in interest than you'd spend on repairs.

But these aren't normal times, and your Tacoma isn't a normal vehicle. You'll get more for it now than ever, but that won't come close to offsetting what the next one will cost.

Used cars aren't any better. I bought a used 2020 Explorer that my wife drives just over a year ago. Last time I checked KBB it is now worth $10,000 more than I paid. I have a hard time wrapping my head around that. It is now a year older, with 15,000 more miles, and valued at $10,000 more than I paid. That just ain't right.

At this point I say keep it. My 07 has some peeling paint and some minor dings and dents, but still runs like new at 222,000 miles. I got an estimate of $3500-$4000 to have it repainted but think I can just live with it for a while longer. We have the Explorer, and a newer F150 if I need something nicer to drive.

 

I can assure I will out earn any one who makes a car payment their entire life by paying cash for a car every 10-15 years. You finance a 40k car at 2% for 5yrs keep it 10’yrs and I’ll pay cash and I assure you Ill have more than you in 10yrs.

 

30k loan is like 500 dollars a month, you have a truck that’s paid and is running good. Drive that thing and save more money and by that time you can still sell your 09 and buy truck in full or at least you’ll have a bigger down payment like 20k. And just a 10k loan is only like 180 dollars a month. Even when your Tacoma has 250k miles it’ll still be worth at least 10k. Maybe by that time no more chip shortage and things will be normal. Eventually it’ll be normal again.

 

I’m selling at market peak (now) and setting myself up for 10+ more years of no trouble. A new Trd or minus your trade might leave you owing 25-30k really not much you can do for 4-500 bucks that’s better than a new trouble free ride minimal maintenance means more time with the family doing things that matter

edit: someone mentioned the low rates right now: we’ve been spoiled for 20 years with low rates, it can and probably will change a bit in the next year simply due to inflationary pressures, now the time if ever

 

$1700 repaint is about the same as 3 months worth of car payments and higher insurance costs. Just get it repainted and now you'll enjoy looking at the truck and still have a truck that's paid off and that gets free oil changes.

 

It's your money so do as you choose but I'm with those who don't like car payments or pay shops to perform maintenance. I prefer to use my no car payments on overpaying my mortgage. It sounds like you are basing your decision on wants and not needs.

 

I would say keep the truck maybe have the roof wrapped in black and have the hood painted. I’ve been also looking at the new ones also especially the army green color. But then i tell myself the new ones have two many sensors that personally I don’t like. Less is more. If you’re truck is mechanically sound don’t get rid of it.

 

Keep the truck, paint it and put some new rims and id be done there. A new truck will cost about 40k right now. I mean used truck 40k. Prices are ridiculous

 

Keep it. Don't let the fancy electronics and "sleek" body design convince you to give up a tried and true vehicle.

 

Do you see yourself actively bringing in the same or more money each month where budgeting the $500 a month will not be a problem? If so, go for a new truck, otherwise keep the Gen2 and love it, looks like a nice truck to me. I personally would keep yours in this situation since it doesn't seem much different than the gen3. Came from having a Gen1 as my second truck but wanted a newer truck and 4WD, moved across town and figured i'd sell the gen1 and trade in my lease early for a profit($3k) and pay sticker for a new 2021 tacoma. So it was a give and take scenario, normally you pay to get out of a lease, or break even and don't profit, so paying msrp for a new car was more justifiable this time around.

Go on with the compliments....

 

I'm not trashing 3rd gens, I just like 2nd gens because I'm biased.

 

I wanted a gen2 but they were still so much money and went with the new one. Work had one i was trying to buy 2010 double cab Long bed, but they gave it to employee as part of his retirement after 40 years.

 

I would keep it. Great spec and color you have there.

 

So body design does not include the grill, right?

'Cause that is far from sleek.

No offence to those who love it.