Help with trade-in

Hello everyone! I'm new to this website and currently do not own a Tacoma but I wanted to see if I could get some help with the situation I'm in.

I have been wanting a 2020 Cement Grey TRD Sport Tacoma for the past year now and have been saving up as much as I can. I was planning on purchasing the Tacoma towards the end of the year, but my car (2001 Honda CRV) was giving me trouble the past couple of weeks and decided I really need to get a reliable car soon to make it to work everyday. At the time I didn't have the amount of money I wanted to have saved to purchase the Tacoma, so my mom convinced me to buy a 2020 Camry SE. I got a pretty fair deal on it I would say, paying around 24k OTD for everything. It is a super nice car, but I just feel crammed in and the blind spots are really bad when I am trying to back up.

My question is do you think I could trade this Camry SE in towards the end of this year for the Tacoma TRD Sport? Would I be losing out on a lot of money since it was a new car? I've heard you can sometime get a great deal on Tacoma's towards the end of the year, so I was hoping to catch one if I could. Also, if I do go forward with the trade, would it affect my credit score in any way? This was my first car purchase, so I'm kind of new to this. Thanks for any help you all are able to give me! I look forward to being a member in this community.

 

As far as credit score (not super familiar) but each time your credit is checked it takes a hit but bounces right back with not to much time (maybe a couple months). Ive been told to try not to open credit cards back to back and limit your credit checks to less than 5 times a year but ALL OF THIS IS SECOND HAND KNOWLEDGE. So take it as a grain of salt.

 

Inquiry don’t affect it too much (a couple points). If you open a bunch of lines of credit (loans, credit cards, etc) in a short period of time, it’ll take a hit. Usually the first month or two after a new line of credit, it’ll drop quite a bit but then recover.

 

Hard credit inquiries stay on your report for two years, but their effect dies down over time. Up to two hard inquiries every six months is recommended.

OP would likely lose a lot of money on the Camry in the trade. But life’s short so who cares.

 

Mom knows best

 

KBB on standard Camry SE right now, you'll take a pretty big hit I am guessing. Plus hardly any discount on Tacoma's right now with tight inventory, if you don't want it close to MSRP; someone else will. My local dealer Tacoma's are only on the lot a couple days at most from what I've heard.

 

OP's gonna wanna test drive the assumptions.

The Taco has a cozy front seat. If I wasn't lazy, I might google, compare, and find the Camry has more room up front?

Regarding blindspots when reversing. With mirrors set right on both plus the reverse cameras and the TSS-P BS (BSM, cross-traffic, etc.), there should be no zero blindspot issues.


Just sayin'.

 

Credit wise you won't take much of a hit. When I bought my Tacoma in July I got pre approval with my credit union and then the dealership and toyota credit pulled my credit. That's 3 inquires. The good news is that if they are all done in under 45 days for the same type of credit after a short time they only count as one under the fico 8 score model. This is because they realize that people shop for the best loan.
My score was 822 when I applied for credit. Now that I borrowed $23k for the Tacoma a month later my score is 819. I don't know how much others scores would change it depends on your score, how much dept you have and how long you have had a credit history.
The good new is that Camry should hold value good but the bad is you are still going to loose a few thousand dollars with in a year or less if you trade it. That's just how it works out. You would not get retail value for it on trade as said already.

 

Carvana ... might give u more for it . If u have no prior credit it might be difficult to get a lower interest rate being that your trading in already .most lenders want to see that u actually stay with the vehicle purchase for awhile so they can make money on the interest . It’s not going to hurt your credit just might need to shop around for a lender . Don’t ever listen to your parents for vehicle suggestions .. surprised u didn’t end up in a Kia lol best of luck

 

So you're saying there will be blindspots lol

 

Get the Camry 3.5L V6, over 300hp, same torque as a Tacoma, panoramic roof, heated-cooled leather seats. Win win

 

He has a Camry ... did u not read his post ?

 

Lots of people have Tacomas and still buy another

 

Dealership inventory is low so great deal at the end of year may not happen. I traded in a brand new 2020 Tacoma SR for an Off-road and lost only $900 in value plus TTL. So low inventory can work in your favorite depending what vehicle is flying off the shelves and what’s not in your particular area.

 

Umm

 

Perhaps my satire was a little thick (or missed)

 

Pretty drastic change going from wanting a Tacoma to getting a Camry. However, everyone’s situation is different and in today’s world, nothing is certain.
However, if you did want to get into your dream Tacoma and trade in the Camry, yes they (the lowest scum of the earth car salesman) will try to completely screw you over on the trade. Go in with a number in mind for your trade and don’t give in to their political dealership games. Yes you’ll lose money in the deal but likes other have said, if you can swing it then do it because life’s to short to be miserable. Good luck OP. Hope to see you in a Tacoma soon.

 

I keep hearing that inventory is low and dealers can't keep Tacomas in stock, but are people actually purchasing new Tacomas? Most of the 2020s I see around had been purchased last winter.

 

I got mine a few weeks ago, manager I dealt with said they were selling every Tacoma showing up off the truck within a couple days listing online.

 

Somebody is buying them. Our local dealer has been getting new ones, but they don’t last long. They currently have two on the lot, both SR models. The next two closest dealers have about 5 each. Not sure why that would be surprising, considering how many of these trucks they sell every year.