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how long should i wait?

Discussion in '2nd Gen. Tacomas (2005-2015)' started by freesample, Feb 27, 2009.

  1. Feb 27, 2009 at 8:10 AM
    #1
    freesample

    freesample [OP] Well-Known Member

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    Visors, Deflector, Husky Liners, too expsensive for good ones :(
    I have an 09 dc trd sport that i baught in end of july. buut now i want a new corrolla, civic, imprezza, etc. How long whould i keep my taco before i trade it? the sooner the better. i was hoping to find someone who jsut bought a new car and wanted the truck so that we both dont lose too much in a trade or something. how can i work this?
     
  2. Feb 27, 2009 at 8:14 AM
    #2
    Kyouto42

    Kyouto42 Iron Beard

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    Depends on what you owe on it.. if you have negative equity (I have about a lot :facepalm: )... You'll either have to take the hit on a trade, sell it and pay the diff, or live with it.

    Vehicles are horrible investments.... with very few exceptions.
     
  3. Feb 27, 2009 at 8:39 AM
    #3
    Banchi94

    Banchi94 Well-Known Member

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    I say keep the Taco and buy a used Corrolla, Imprezza, or whatever car you want. That's what I did - 96 Honda Accord getting painted as we speak (bought it for $2K). :)
     
  4. Feb 27, 2009 at 8:54 AM
    #4
    freesample

    freesample [OP] Well-Known Member

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    Visors, Deflector, Husky Liners, too expsensive for good ones :(
    well i really dont need the taco..i bought it..and then a month later they gave me a work truck that i can use...not for long trips and such but if i need to move a skidoo or something. i got through a tank in the taco every 2 - 3 weeks. not much driving.
     
  5. Feb 27, 2009 at 9:16 AM
    #5
    Banchi94

    Banchi94 Well-Known Member

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    Oh, makes sense now, but I'd still keep the Taco! Of course, I have some bias here. I'd try to sell it private party...you'll get more for it.
     
  6. Feb 27, 2009 at 9:31 AM
    #6
    Brunes

    Brunes abides.

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    Try to sell it private party like Bianchi said- You'll get more out of it that way...and since you aren't really in a rush- It will help you stay out from being upside down on the truck...

    Good luck!!
     
  7. Feb 27, 2009 at 9:35 AM
    #7
    freesample

    freesample [OP] Well-Known Member

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    just say for example the truck is 30000. then 5000 taxes and 5000 interest for 60month payment.40000 total. and say i put 5000 down. making it 35000 total and just say i pay 500 a month for it. so if i payed for 7 months now, then i have paid 3500 so far. bringing the total down to 31500. so i need to sell it for 31500 to get back what i owe?orr does the interest stay there seeing i never used 60 months? numbers all fictitional. and also does that 5000 down go on the price before the interest or after?
     
  8. Feb 27, 2009 at 9:39 AM
    #8
    Simon's Mom

    Simon's Mom Wag More Bark Less

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    I'd advertise on all the toyota forums, craigslist, or cars.com. Get an idea what TMV is from Edmunds based on your zipcode & as well as what other people are selling toyotas for the markets I mentioned.

    Much better to sell outright since you have another truck to use then going to the dealer. Once you have the other loan cleared then off to the dealer you go. Or as you said, put what you are looking for in the add, like consider trade for..... with cash or something like that. It works if you are patient & you make out much better in the end. Best of luck selling your truck

    Edit: Didn't see your post above, I would also call who ever holds the loan & find out what payoff is & how much per day it changes. They'll know what you mean. Good luck
     
  9. Feb 27, 2009 at 9:45 AM
    #9
    Phantom_X-SP

    Phantom_X-SP Rude Boy |><|

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    www.lenderguidance.com <------ your answer awaits :)
     
  10. Feb 27, 2009 at 9:48 AM
    #10
    Brunes

    Brunes abides.

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    If you want to pay what you owe you need to call the company holding the note and get a payoff quote. You won't have to pay the interest for the entire loan.
    What you spent on the truck doesn't really matter at this point- Your loan is worth X dollars and the Truck is worth approx Y dollars. The Y dollars value comes NADA or Kellys or whatever lil book you use for prices. If your truck is in great shape you can get the high end of that Y dollars and hopefully that will be equal to or more than X.

    GOOD LUCK turning the truck that quick....Hope it works out for you.

    Good luck trying to cover the money you spent so quickly.
     
  11. Feb 27, 2009 at 9:55 AM
    #11
    06dak

    06dak Well-Known Member

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    Interest doesn't get put in at the beginning, it gets added every month. Paying off today saves interest tomorrow. That being said, make sure the loan doesn't include any crazy early payment penalties or minimum number of payments without penalties. These are rare, but I've heard of them happening before.

    As for selling private party, you need to advertise it, be patient, and price it for what it's worth (not what you may owe or want to sell if for).
     
  12. Feb 27, 2009 at 10:39 AM
    #12
    freesample

    freesample [OP] Well-Known Member

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    hmm hopefully i can do this without losing more then what i have already paid. better to trade for car and cash or sell, pay off loan and get a car?
     
  13. Feb 27, 2009 at 10:45 AM
    #13
    RelentlessFab

    RelentlessFab Tacoma offroad armor fabricating beast Vendor

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    Had tons on the old Taco's.... new Tundra is pretty stock
    sell and pay off. You can always get more selling private than a dealer will give on trade
     
  14. Feb 27, 2009 at 11:48 AM
    #14
    tacoholic

    tacoholic 09 but I drive a 012 Expedition...

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  15. Feb 27, 2009 at 12:56 PM
    #15
    Kyouto42

    Kyouto42 Iron Beard

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    More than likely... you'll save more money in the long run just keeping the truck. But if you don't like it... it's not worth living with it if you can deal with dropping cash. The taco will run damn near forever with very little to no repair costs... a WRX will cost more to maintain. However, it is a lot funner to drive. Also, heads up there are WRX on craigslist and such for under 10 grand these days, fairly high miles... but keep that in mind.
     
  16. Feb 27, 2009 at 1:04 PM
    #16
    Krazie Sj

    Krazie Sj Resident Jackass

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    Ooo!

    Serendipity anyone?
     
  17. Feb 27, 2009 at 1:08 PM
    #17
    lsocoee

    lsocoee My hair is all natural Moderator

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    If you don't need a truck, then sell it ASAP. I would try private party for a month and then I would trade it in.
     
  18. Feb 27, 2009 at 1:20 PM
    #18
    freesample

    freesample [OP] Well-Known Member

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    Visors, Deflector, Husky Liners, too expsensive for good ones :(
    yeah. WANT truck.. NEED car lol
     
  19. Feb 27, 2009 at 1:21 PM
    #19
    tacoskim

    tacoskim Tuned By Gadget

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    u probably lost like 4 grand just driving it off the lot
     
  20. Feb 27, 2009 at 1:24 PM
    #20
    grivera

    grivera Well-Known Member

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    One thing I'd consider is the security of your job and the vehicle that comes along with it. Are you guaranteed to keep it for the next several years (job and vehicle)? I don't pretend to know what field you are in but with the economy the way it is today, I'd be very cautious.

    That cuts both ways because your resale value is predicated on the market; at a time when folks are being extremely tight with their money and lending is tight. Good luck!
     
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