May be forced to sell my 16 Limited

i was informed yesterday that i'm going to get a company vehicle. I won't need or can't justify the cost of my 16 BBP limited, but i love that truck.

I'm in michigan. What are the best ways to sell a 'nearly new' used vehicle these days? If anyone wants a great deal on a nearly new truck, I'll unfortunately be selling in a few weeks or so.

 

Auction. I'll start. $100.

 

When should I pick it up?

 

The same way any used car is sold.

Craigslist, Auto Trader, etc.

 

If it's nearly new you're probably upside down. Even if it is a Tacoma. You'll probably looking at some kind of loss. Hang on to it until you're above water and put something in the bank. You'll still lose money in the long run, but you'll feel better about it.
Good luck

 

I'd agree with that. If it's going to sit, miles will be kept low.

I'd sit on it some, since there isn't an immediate need to free up that money. Then sell it when an offer comes in that makes sense.

 

To add onto that, though.. maybe sell before 2018 MY is released while your truck is only really a year old.

I'd figure a couple grand would drop off your value post 2018 MY.

 

Carmax

 

I'm not upside down on it, but still not amused by the timing. It seems that patience when trying to sell it will be in my best interests.

 

This.

https://youtu.be/ZKAVHqW_SYM

 

Why sell it, it will last you forever

 

if it were me, i'd keep it. never know when a second car can come in handy. going in you probably budgeted accordingly so you won't be out of any money, but i understand the savings aspect of it. if anything, sell for what you put down and have the new owner continue the payments? never had to do that before and don't know what the process is, but at least you're not losing anything moneywise...

 

Yep, a stipend would be an ideal solution if it's workable.

As to keeping the existing truck while driving a company car, I'm not sure that's a winning proposition if you're early in the loan. Especially if you're not upside down. The value was lost when you drove it off the lot. If you can't get a stipend in lieu of a company car, you need to figure out if it's worth it to cut your losses now and sell the truck, or keep paying interest and losing value through further depreciation.

The other aspect is you bought a *truck* for some reason. Has the need for a truck changed with the introduction of a company car, or do you still need to own a truck for the same reasons you chose it over other options like a 4runner?

 

I wouldn't want to rely on my employer for transportation. Sure, I'd drive a company vehicle, but I might want to go on some personal trips..... or things could change and you may have to turn in said company vehicle.

 

+1, I've got a company ride (2012 Expedition and a 2017 Suburban on order). I work for a large utility company and the likelihood of me losing my ride is slim to none, but when I get done with work on Friday, it gets parked and either of the turd gens (02' 4runner or 16' Taco) get drove all weekend. Granted my driveway could double for a used car dealership, but having your own ride for personal usage is a necessity.

 

Which could be a really bad time to have to go buy a vehicle...

 

I wouldn't sell it unless you you can't make the payment, or if someone comes along and makes an offer too good to be true, such as paying you what you paid. Then I would buy something else, as I would want to ensure I had my own transportation if something doesn't work out with your employer.

That being said I offer $200.

 

+1. Exactly what happened in my situation, since I had 3 cars already I figured 4 would be unnecessary so I asked my work and they offered 500 a month instead. You never know, it doesn't hurt to just ask!

 

...^^^... sold several vehicles on AutoTrader Super easy

I got a lot of crazies on Craig's list for vehicles

PS. Check your employer and how they list company vehicle for personal use with IRS.

 

Ok going to ask the un-asked question..... what ride is your work putting you into OP??

More importantly ... they cool with you driving it for personal use to the point you may get in a fender bender when using it for personal use?

Me ... I'd have a work Taco and a Personal Taco.... problems solved.