2016 Tacoma Trade-in

Hello! I am new to this forum & was hoping someone could help me out.. I have a 2016 Tacoma Double Cab TRD OF in Quicksand. I bought it in August of 2016 & it has about 27k miles. Well since then, my two kids have grown in height and size, so we are looking to move up to a Tundra. We owe about 30k on the Tacoma and it seem that we keep on getting low balled on the trade in (27-28K). I have heard that Tacoma’s have GREAT resale value, so when will the truck become more then I owe? And should I wait it out, or try and go flush on a new Tundra… Thanks for the advice and help!

 

3rd gen problems have tarnished values. Trade-in values are usually lower because a dealer wants to make a profit at your expense. Selling privately might net you more.

 

You're not reselling the truck, you're trying to trade it in. Very different, regardless of what the numbers on paper look like.

Dad always said when you are at the bottom of the hole, quit digging. Give that some consideration.

Looking for a well cared for older model (even a Tundra) that is worth less that what your truck will currently sell for on an open market would at least keep you from digging deeper.

 

Trade it in for a certified preowned Tundra

 

I think those TRADE-IN numbers are good - especcially without knowing any details about your truck - besides year, DCSB, color, and mileage. Try Nada.com, Edmunds, KBB etc..

AT, MT, Condition, JBL, mats, cover, etc. etc. etc.? I personally, would not buy that truck and simply go new for $4k to $5k more. Got my sport for 32400 OTD w/ zero miles.

 

That's pretty good for a trade-in offer from a dealer. Try to sell it private party if you want that other 3k to break even, or eat the 3k difference (and higher payment) for the bigger truck.

The truck has kept its value pretty well for 2 years /24k miles if theyre offering you that much. Dealers typically always give lower than private party to max their profits.

 

Where you live does your trade in value drop the overall price you pay tax on ? It may even out rather than paying cash for the tundra and paying full tax on that.

 

I checked end of last year here in Va and those were the numbers I was getting
as well on a loaded trd 4x4 2016 dcsb sport. They're 31-33 on the lots here so
the number really isn't bad. I said F-it, paid it off and decided to keep it for the long
haul..... I hope More than 20 new cars for me in 29 yrs. and this is the FIRST
I've ever had the title for - 29 years of truck payments... it'll be nice to have a break!

 

What model is it? does it have premium and Tech? What was MSRP and how many miles is on it? seems to be good number being 2 years old and actually 2.5 years.

 

Trade in is always low. I wouldn't even compare it to resale. The dealership will sell it for much more than what they will trade for it. IMO, if you want out, you need to sell the truck outright.

 

tell them what you will give them trade difference for the Tundra you want and tell them that is best you will do or you will keep your truck. Be realistic . Go to KBB and get what it says trade value is with your miles and your exact truck. I bet they will take the deal by this Friday being end of quarter and end of month.

 

August 2016 and you still owe 30K??????? Gonna take a real bath on that.

Keep it.

G.

 

28k for a TRD OR 19 month trade in vehicle is about right. Private sale should get you around 30-31k since you lose a lot of the warranty at 30k miles. That trim was worth $33-35k new. The fact that you still owe 30k on a 19 month vehicle means you over paid and/or carried negative equity into your new vehicle.

 

Like everyone said. Do a private sale. It's a bit more work but you should be able to get rid of it fairly quickly if it's in good shape and likely for right around what you owe or maybe a bit more than that.

 

Lol. If only I could have bet on which gen you drive before looking...would have made bank.

 

You'll have to sell it privately to make a buck! Dealership has to low ball you to sell it at their price!

 

It's just my opinion, but I feel you're compounding potential financial mistakes by unloading it to appease your growing kids to upgrade to a larger vehicle. Tell them kids too bad... squeeze in the back more betterer. It seems like you likely financed almost the whole vehicle purchase, which means you likely aren't flush with cash. Upgrading to the more expensive to operate Tundra is only going to pull more money out of your pocket, although you're not really putting an appreciable amount of miles on the tacoma, so this added fuel cost is probably on the order of a few hundred dollars a year at most. But my guess is money is tight. Don't make it worse because your kids are getting bigger. plenty of people use the tacoma as kid haulers.

Without knowing your loan details, nobody can calculate when you'll owe less than the tacoma is worth.

 

i am not saying they have not tarnished the values but i can say the tacoma/tundra and 4 runner are still best resale. I do believe some people are not realistic. The first 2 years are the worst and most depreciation but they still do better but none do well.

 

That's just not true.

 

How big are these kids getting that they won't fit in a DC Tacoma? Sounds to me like you want a bigger truck and that's a good story to tell SWMBO...