Does it makes sense to sell a 3rd gen and buy a 2nd gen?

I need some cash, and I would rather just sell my car than pull from investment accounts.

I don't have a loan on my 3rd gen, so I would probably get 33K from the sale if not more.

I plan to just go without a vehicle and share one with my wife until July this year, and eventually buy a 2nd gen for much cheaper. I owned a 2nd gen for 8 years, so I almost trust the 2nd gen more than the 3rd gen.

However, I looked at the 2nd Gen Tacomas, and they really aren't that much cheaper than 3rd gens. I looked at a few 2013 Tacomas, and they are 31-33K.

I would honestly like to spend 10K on a Truck if possible but a 1st gen is a little to small for me. Is it even possible to find a second gen for that price?

I traded my previous second gen in for 5K with 199K miles.

 

Does driving a newer car make you happy/payments? I have 2005 2nd gen 180k miles taken care of very well did major svc/headgasket probably worth 12-13k+ easily I see no need to upgrade (downgrade smaller engine ) 3 gen at this point. 2013-2015 still go a little higher for the price may as well get 3rd. Earlier 2nd gens are good to go depending on condition!

 

the 2013-2015 have a better overall aesthetic to me. I am not exactly sure with the front-end was refreshed. Is it possible to bolt-on the refreshed front-end with minimal money?

I kind of want to get one with 60K miles and immediately thrown on a TRD/Magnussen super charger (the model year is irrelevant in this scenario). I was hoping I could do all of that for $20K all in. Not looking possible at this point through.

 

If you are in a financial bind, downgrading your car is an excellent option.
A decent 2nd gen can be had for cheap if you are ok with cosmetic damage. Hail damaged cars are a good start.

 

someone on here did the conversion but its one of those that are oem parts thats expensive. maybe insurance claim know body shop that will order the parts.

 

Seems anything < 150k miles will be at least 15k or higher. If higher mileage doesn’t scare you go for it. Just seems odd to replace a new low mileage vehicle with a much older higher mileage vehicle

 

Front end refresh was 12-15, good sir. Top of my skull I'm not thinking the front end would interchange with a 05-11 though.

Depends too, whereabouts do you live? 2nd gens would be suspect of the frame rust issue even with the 12-15 bracket. Just something to think about..though I like the idea if you need cash to liquidate the vehicle. If you don't have to have a truck in the short term, scoop up an older Corolla/Camry perhaps and I bet you could get your money back next year when you sell that.

 

You want to free up some cash but you want to sell your paid off truck. Then buy an older truck, change the front end and put on a supercharger.?

No offense but those things seem mutually exclusive to each other. I can't see you ending up with any freed in cash after all thus is said and done.

Unless I'm missing something.

 

Get a second job and have two trucks....!

 

If it were me, I’d keep the 3rd gen and free up cash from another source.

I don’t know your location, but in Hawaii it would be very difficult to find a decent 2nd gen for $10k. Unless you go for a 5 lug 2wd or settle for high mileage truck.

 

debt 101 get rid of one accumulate some more

 

I'll have a lot more money in July due to large bonus, and monthly savings. I just want to have cash on-hand because I am buying a house. I don't want to be caught of guard by any unknown expenses, and 30K would be a good cushion.

 

Keep the truck. Get a line of credit. Use it if you have to otherwise close it down when you get your bonus. If you buy an older 2nd gen you might inherit someone else’s problem and be stuck with an expensive repair bill. Then you’re back where you started. Your plan doesn’t make sense.

 

The only reason you would go from a 3rd gen to a 2nd is if you want a better truck.... seriously. Not just talking shit, if you want a better truck for truck things, then do it. The main downfall is if you are gonna miss the tech upgrades and maybe a little gas mileage.

finding the right deal will be hard, but if you do find it, don’t look back. If you are looking at this from a purely financial standpoint then you maybe be better off looking at other trucks than Tacoma’s.

But agree with others, aim to borrow the least possible and take advantage of the golden resale of what you got to make the most of your money.

Also, what is your long term plan? Keep whatever truck you have for 20 years or plan to upgrade again in 4 years? That’ll determine a lot of what you should do.

 

All good question @wiggler

OP, tell us a little more about where you live too. That could help. Perhaps you can get by with 2WD for instance.

 

Hell yeah it does.

/End thread

 

05-2011 front end conversion to 12-15 models have been done by a few TW members for around $2k. The only way it would make sense financially is selling the truck and go with a car or different type of truck. Fortunately, tacomas keep their value so sticking with another older tacoma will not net you much more cash for a house down payment. Imo, keep the paid for truck especially if you are a handyman that will likely need a truck for home depot runs.

 

I think a good accountant could help you pinpoint what you actually need for the new home and help you keep your truck at the same time.

 

+1 Makes the most sense.

 

IMO, keep the paid off truck instead of doing the swapping on something that MAY be cheaper.

You already have the money for the $30K cushion. I understand the reluctance to pull from investment accounts, but that is kind of what the taxable portion of your portfolio is for. With most brokerages, you can sell portions of a fund, direct the proceeds to your bank, and it will be in your bank the next morning. If for some reason you don't have a taxable portion, the contributions to your Roth can be pulled out in some circumstances.

Alternatively, do as some of the others suggested and open up a line of credit-if you don't need it pay it off immediately. Lots of different options here-with your bank, with other banks, or even your credit cards.