Early trade in?

I just received a phone call from my dealership where i leased my 2011 tacoma from and they apparently have a new early trade in program. They said i could get into a 2013 with no money down and a lower monthly payment, is this because of a redesign in 2014? My lease will be up with my current tacoma in October 2013.It sounds like a pretty good deal

 

This is to get you to get into a new lease. If you were planning in keeping it all the money you just dumped into it will go down the hole.

I just got the same call on my Honda, 7k into a 18k car for me, I think I am keeping mine (and I like it ). You may be (and probably are) in a different boat financially.

If you were going to turn it in anyways then why not but if you are keeping it be warned with what I said above.

 

Yeah, they make it seem like a great idea but what you don't realize is you just spent thousands to essentially rent a truck for the past year and a half.

 

It's not purely a scam - if the numbers are there, it could be good for you.

The trick is - the numbers aren't usually in your favor, and they are counting on your lust for SHINY! NEW! GADGETS! to overcome your better sense.

But it doesn't hurt to look. Just don't be stupid.

 

It still depends on the lease lengh and how far you are in to it. They do it right before your lease it up, not right after you sign the papers

just like how you get phone upgrades a few months early.

 

I get mailers your tacoma is in high demand. I dont remember why i was at the dealer but one of the sales guys said he could get me in a new truck for a lower payment. He disappeared when i told him it was paid off.

 

Went there yesterday to get more info, total scam.

 

No scam people. It's called marketing, plain and simple. Car dealers don't just sit on their asses waiting for customers to walk in, they go and think of ways to get them in, like advertising, direct mailings, tent sales, off site sales anything. The latest thing is direct mailings telling you how they need (your yr/model) for their used car lot and they even have customers waiting for your model. Don't be gullible. You have been warned......

 

If & when they ever confront you with this....

This about it this way:

Ask them: "What's my Payout?"
(this is the amount you would owe to completely own the truck)

Then - research on NADA or KBB of the value of your truck (resale, trade-in, or private sale).

This will give you an idea of where you would stand. I can't honestly say what you'd end up with.....

But sometimes - you are better off with the value (KBB/NADA) in selling it outright and paying off the PAYOUT than you are with jumping into a new lease.

 

I would love to hear the details once you got to the dealership.. How was it a scam??

 

The scam is, the remaining monthly payments are rolled into the new payments. You are paying for the old truck, and paying for the new one. It appears less because the remaing payments are divided into more months. Example, you have $2000,00 left in payments, $400 monthly, thats 5 months. They wiill divide the $2000 into amount of years you will be leasing, or financing. Lets say you take out a 48 month loan, divide $2000 into 48 months, thats $41 dollars monthly.

I went into the dealer when I got the same letter. Negotiate a deal for the new truck first. Get the monthly payments amount. After that, negotiate the trade in amount. See if your payment stays the same or they try and and explain why it has to go up. My salesman hasn't explained it to me yet and it's been over 2 years. I'm an a**hole and still email or call him once in awhile to find out if he can explain it.

 

Car dealers only make money when vehicles are bought or sold...if they have an offer for you, it is because it is good for them. You have to decide if it is also good for you.

Howard