Advice on Trading the Taco for R1T

Hey guys, received a call on the R1T is ready and I do want to pick it up. However, feel like this offer is a bit lower than expecting. Photo is attached.

2021 Toyota Tacoma TRD Pro, White
Miles 20,700

 

They offered low on my trade in as well, sold it elsewhere for $10k more. That does complicate things a bit though if you need that money to buy the new truck and don’t have another vehicle to drive in the mean time.

 

Do you mind me asking where you sold it?

 

My advice, don't do it! No reason....

 

Texas Auto Value, one of the various online wholesalers.

 

Dang, you still owe $24k on your Tacoma….. it’s like you’re trapped in car financing hell

 

I'm okay with owing less than half what I paid for it in a little over a year of financing it. Payments aren't bad. Actually, I only owe $22,653.07, so the numbers aren't 100% accurate.

 

Several reasons to.
1. $7k credit when filing for electric vehicle.
2. Last year to write off 100%
3. Having pricing under current price hike. Think it was 18% price hike.

Love my taco though.

 

Are you getting the tax break on trade difference?

 

That’s low, i just traded a 22 TRD off road(no options besides led headlights) 2k miles and got $37,000 trade in ….

yours is only 20k miles and MSRP was 15k higher …

you should expect at least $45,000 trade in easily

 

Yes, its Florida.

 

What if selling it to private party?

 

I looks like your trade is just over 40k. They pay the loan 24k and you have 15k towards the vehicle

 

Also sold to TAV, they offered a great figure and super easy to complete transaction. Meet at Chase bank and they hand you a check on spot.

 

So, it's like getting 42k+ for yours, depend on FL sales tax. I'm sure you could sell for more, but then no tax credit.

 

I'm still not 100% sold on the full electric vehicle yet. Mainly because the infrastructure isn't in place yet. You'll get what others refer to as "Charging Anxiety". You'll have limited places you can charge, unless you choose to pay to have a charger installed in your home, which can cost thousands of dollars.

Then you have diminished battery capacity if you try to tow using your Rivian. Don't get me wrong, I love the look of the truck and it looks very capable, but the amount of money you'll save on gas don't add up to me. If I'm going to pay $50k (The average R1T is about $90-100k) more for a truck charging it up and going wherever I want shouldn't be an issue. But it is, and will be for some time. I won't even get into the "What are you going to do in 10yrs when the battery needs to be replaced" conversation.

The juice isn't worth the squeeze, is what I'm getting at.

 

You probably need to consult a financial advisor (make sure they're a CFP that specializes in tax) to determine if this is the right move. I don't think you're considering some repercussions of this. ( Hint Hint )

 

Terrible move all in all…. An insanely reliable
Truck, or a brand new technology test vehicle for alot more $. No thanks

 

I am not sure if there are any lift kits available for the R1T's yet.

 

Buying a Rivian isn’t a way to save money compared to a Tacoma but it is a way to get a far nicer and more capable truck. Compared to ICE trucks with similar quality and capabilities it is a money saver.

Home charging install can be as cheap as free if you already have a 240v outlet in the garage and usually is less than $2000 for parts and labor in a relatively modern house.

Long distance towing is a slow event due to charging every 100 miles but it is an excellent tow vehicle for distances less than that. I tow 7000lbs twice a week and it is the best tow vehicle I owned, better than my 2500HD diesels.

The battery is no more likely to require replacement in 10 years than a standard truck engine so that’s a non-factor.

As for cost, I paid $67k out the door for mine after the tax credit, $27k more than my Tacoma. With money spent on modifications for the Tacoma it’s only a $15k more expensive truck.