Is buying a new 2023 TRD OR in this economy smart?

Here is a “hack” with Toyota Financial, if you have the cash, a 1 pay lease will drop the money factor to an equivalent of around a 3% interest rate and Toyotas residual values are still good. Nothing is quite what it was a few years ago but as long as you don’t pay over MSRP it’s still decent deal.

OP buy the truck they’re awesome

 

OP needs to think about probability of moving for a job. This is a reason to not buy a house. Truck will relocate real easy.

 

Appreciate it, thanks for the advice. I think that's what I'm going to do.

 

Mine is due to arrive later this month or beginning of December.. i think you got it lol

 

What did you get?

 

Being on the downhill slide to 70, I've learned that the best time to buy a new car is when you don't need one.

If you do, put down as much as you can and never go more than 4 years financing.
I dropped 25k on my 2021 SR5. Payments are reasonable.

The economy is what it is, and it ain't going anywhere soon -
GDP was 4.9% last quarter - almost unheard of.
DOW was up over 500 points today.
Jobs are everywhere.

Buy the 2023... you only cry once.
Worst case? You have to sell it and end up driving a nice ride for 1-2-3 years for whatever.

Old boss of mine drove bitching cars and lived in a real nice house.
I know he didn't make tons of money ( he did alright ).... he said well I have to have a car, and I have to have a house,
so it might as well be nice....

 

TRD OR DCLB
it’ll be one of the last ones made before the factory retools for 2024+ model years lol..

 

Doesn't sound dumb. When I bought my new Chevy truck in 2007 I sold my 10 year old car myself. Told the lady who bought it part of me doesn't want to, had it 6 years and we went through a lot. We both chuckled, but I really meant it.

I think if you want this truck so badly, just do it. You sound like you thought it out and aren't overbuying like my sister and her husband would (who cares what it costs, what's the payment type logic). Plus as you said it's the last year of the new 3G. Life is too short and you never know when it's going to change.

Not sure of exact location for OP but I'm in MA, half hour south of Boston. It's beyond insane.

I've known people trying to buy for over a year now, usually an open house has multiple over price offers before the showings are done for the day. Some are all cash and people are willing to forgo home inspections to get it done even..and that happens at least half the time lately, crazy as it sounds.

My 1200 square foot house sold for 200K in 2004 (family sale, market was about 250). Right now it's about 400K. Bear in mind I've torn it to the studs one room at a time and started from scratch. Windows, insulation (yes most of the house had none), you name it. Had a new roof 3 years ago too. BTW I only have about half an acre tops so it's not the land in general boosting that price.

 

I am in a similar boat, but up in the great white north of BC, Canada. All of the trucks currently available are selling for msrp or higher. Markups on used vehicles with 50k km or less is usually higher priced than a brand new one. Interest rates are around 6.5% on 60mo financing.

I've been driving an older 2nd gen that is cresting 183k miles that unfortunately has just been costing me hand over fist in repairs and maintenrnce. I have been spending at least 3k per month in repairs!

I love my truck and there it takes me, but i am getting nowhere ahead financially with it. And am at a loss with what to do. Currently setting it up for sale and trying to see my options. Dealers here strike zero "good deals" like you guys down south.

 

Your money today is worth more than your money tomorrow. Every day you sit on cash it loses value.

I *JUST* picked up my TRD Off Road a little less than a month ago for the same reasons.

 

Yup mine "should" arrive this month but we'll see, I think these are all the last of production. Might all come on one shipment.

 

Market crash???????? Ohhh nooooooooooooooooo

 

Smart in this economy? Why not? Sumptin better on the horizon? I bought six weeks ago to hold me over for a '25 Tacoma. Now, I'm not in any hurry to get a 4G Tacoma.

 

One more financial consideration (if this is applicable in you state)…Tacomas hold their value extremely well. I traded in a 2015 TRD OR DCSB for $21,500 a great residual value of 62% of the original MSRP. The trade in value effectively reduced the sales tax basis of the new truck saving an additional $1,300 in sales tax. The net is, long term your Tacoma has a history of holding a high residual value which mitigates some of the financial risks.

That’s a whole lotta words to say just get the damn truck.

oh, in addition I traded the 2015 for a new 3rd gen 2023…love the new truck as much as I loved the old truck.

 

As my mother would say "If you need to ask, the answer is no". I find myself using that answer to the younger generation at work when the ask me all kinds of questions. Then I follow up with may standard reply "nothing is fair in life", that's why. I drive people nuts with just those two revelations.

 

Love this. Though the first one isn't always a no, I find at least if asked it means there is need for further research/mulling.