I need Advice from the Tacoma world.

Here is my delima.

I currently rent a home for dirt cheap from my in-laws. But, the home is very small and we are outgrowing it quick. My son in middle school shares a room with his 8 year old sister.

Well. I have the opportunity to buy a home and I am thinking about selling my Tacoma. I just bought it not too long ago, but if it means moving to a single car payment (i am paying on my wifes suv) then I have to do what I have to do.

So, to all of you with selling and buying experience. Do I sell my shell and bed plate with a full ARB fridge setup? And then off it to a dealer? Or do I try to sell it the way it is?

2022 Tacoma OR Premium. Celestial Silver. Leather Moonroof. Sonor front. 360 Cameras. JBL Sound. Everything it could possibly come with before buying a Pro. 5,300 miles. Really the only true modification was having the 4x4 decals removed.

This is just something I am considering. I have not decided on selling it yet. My wife wants me to keep it. She knows it is my dream truck. But, honestly it is an easy decision for me to choose to better my family's living situation. So, I am leaning more and more to selling my truck.

Any advice my Tacoma peeps? Sell it the way it is? Or sell the Cap with Yakima bars (ARE color matched Shell). Sell the bed plate with ARB setup. And trade it in for something more economical and cheaper?

Also, I still owe on it through my credit union.

 

The advice will always be to part it out, especially if trading. But honestly if you do sell (which only you can decide) the private market will be such an easy sell based on options and mileage. Just don't ask over the moon (looking at you 3rd Gen marketplace with the 2017 for $45k).

 

Stay with the cheap rent. The housing market is at its worse right now.

But if you do sell the taco, deff part it out then trade it in.

 

Wait till market comes down worse time to buy . Save money while paying cheap rent use that for home purchase and keep the truck .

 

Part out the add-ons.

As is usually the way of these situations, what you still owe the credit union versus what you’ll get selling or trading would ultimately determine your best next step. And I’m guessing the rate you have on your Taco is much better than the rate they’d quote you today if you choose to down-size, so, another item to consider.

Family first, dream truck second. Trust me, Toyota will gladly build you another, when the opportunity is right. Good luck!

 

I wouldn't buy a house right now. wait a couple years for the market to adjust and interest rates to not be 8%. in the mean time save up some money renting cheap.

 

Get grounded in your home life first. It is just a truck.

 

Anybody know what a fair price would be? Anyone familiar with this Southern California market? It seems to be all over the place. Week to week is a roller coaster in the auto market (and housing).

 

If it were me, I'd sell the truck and keep the cheap rent for a while longer. This is not a good housing market for buyers right now, and it would give you some time to save more money without the truck payment. Keep in mind that selling a truck with a lien privately can be a logistical nightmare depending on who the lender is and where they are located, so take that into consideration. I also agree with others that you would get more parting the accessories out if you go the trade-in route.

 

I will likely go the route of parting out the shell and bedplate. The bedplate also has a unit built in for holding batteries, inverter and battery charger. It has gas shocks for the lid and what not. I will have to take some pictures later. I also have some other stuff I never installed. Spod, Baja designs light bar, lights, rugged radio. That stuff I might keep, for the possible future vehicle.

 

So you are not advocating for @Newbie1983 to sell one of his kids to pay off the Tacoma? One of these maintains its value. The other one will cost significantly more money at high school age.

 

It’s your business, and you don’t need to share more financial info, but I’m not sure how you’re going to afford a home if you have payments on both your vehicles — unless you’ve got a lot of cash coming from somewhere else. You’ve apparently never owned a home before; look into whether you can afford the jump. Being house-poor is tough too, and prices here in SoCal are diabolical.

 

Yeah, or swap out the SUV with payments for something bought with cash in hand that is inexpensive and fuel efficient and long-lasting. Almost no one *needs* both an suv and a truck. Those are “lifestyle” choices.

 

True that.

 

good advice in here.

i work in real estate, I'd highly advise against buying right now unless you find a screaming deal that you just can't refuse. But you have a family...so it's either stay cramped, rent, or buy. Tough choice all around :/

if you have to sell the truck, it sounds like yours would be an easy sell on the private market, even with your mods. If I was you, i'd get a trade in/carvana/carmax valuation to see what they value it at, peruse the used market for similar offerings, then list both the truck as is with everything for slightly more to factor in the mods, and also list the individual parts you'd part out for sale as well. See what goes first, then adjust from there. Would definitely try private party over dealer if you have the time to wait for the right buyer(s).

SoCal market has been hot and will likely continue to be, if you price reasonably it shouldn't be a hard sell. Only hassle really should be handling the title transfer if you sell private party, since you still owe on it. Both the truck and the parts you have on it/will part out are good mods that many people would love to have.

 

You date your vehicle.
You marry your house.

House prices are a bit high, but you may snag a deal.
Don't worry about the interest rate it WILL come down, and you can re-finance at the lower rate when it does.

Still on the question of the truck - I'd try to sell it outright with all the bells and whistles, if the buying party wants it.
But be open to parting out all the cool add-ons, which in itself is a bit of a pain.

It's a tough economy but jobs are plentiful and they pay better for sure, still I'm happy to be done with it all -
I'm on track to paying off my 2021 this year and if things go to plan will pay off the house in 3 years.

Keep trudging away, stay healthy, drop nickels and dimes into a 401K ( Roth preferred ) and at the end of it all everything will work out fine.

 

Whether you buy a house soon or down the road, how about keeping the Tacoma and selling the SUV. When it does come time to move you will have a pickup instead of a SUV. Keeping your Tacoma will give you time to access the 4th Gen Tacoma when it arrives. Will you like the 4th Gen or be happy you kept your 2022?

 

Try running through a rent vs buy calculator, and ask yourself what the difference selling your truck would make in your budget. Write it all down, or search for spreadsheets or templates to help you visualize what you’re doing.

https://www.zillow.com/rent-vs-buy-calculator

 

Houses are at their lowest affordability since 1984. Now is NOT the time to buy. Keep saving your money.

 

Thanks for all the input. I appreciate the honest opinions and advice. Sometimes I just need to hear it from someone else's perspective and point of view to help me make big decisions. I could probably afford all three, but I am always thinking down the road. My son is pretty sharp and will likely head off to college in about 5 years or so. In addition to that, he loves wrestling and I don't know if this will lead to more out of state traveling for competitions. I have been watching the real estate market and it just seems all over the place. It's like trying to find a date at a mental institution.