My 2014 Tacoma Value

Hey all,
I am looking to trade my 2014 Tacoma Sport in. It is a long beg with the TRD Sport package. It also has the tow package. On the high end for a trade in blue book is 27k. Anyone think I can squeeze more out of the dealer or is that probably going to be all? I know they are gonna put it on the lot for around 30k.

Interested in your thoughts.

Thanks!

 

Depends. They could give you 27 and make you pay full price on the new ride.

Or they give you 20 and take 7 off the new ride.

Bake a pie, eat a pie.

 

I love when they try that at the dealer and try and make it seem like you're getting a sweet deal.

 

Probably not.Try to sell it on your own and then go from there.Dealers are going to try and get you one way or another thinking you're getting a deal.Pay attention and be careful if you go that route.

 

Keep in mind if you do a private sale.........make sure you charge enough to cover the difference in sales tax. Here in good old PA Dutch Country, the sales tax is 6%. Buying a new 2015 for $32K and no trade will cost you $1920.00 in sales tax.

Buying a 2015 for $32K with a 25K trade-in only costs you $420 in sales tax.

In the above example, just to break even, you will have to sale your 2014 truck for $26,500 to cover the cost.

Private sales sometimes work in your favor and sometimes not.

Just my opinion and 2 cents.

Donald

 

Could also depend on what dealership you are thinking of trading at, you do not say. If a Toyota dealer, they might be inclined to give you more because they know what it could sell for. Another brand dealer, maybe, maybe not. As stated, if you plan to purchase another vehicle, you would do better to sell it yourself if you can devote more time to this process.

 

Hey that's a good point.
Thanks I hadn't thought about that!

 

No one has asked...what are you trading it in for? Just curious since the truck is almost brand new.

Some dealerships around here claim they will offer $1000 more than KBB trade in value...depending what part of California you are in.

 

I am in SoCal. I've had the truck for 10 months.
I love my truck but my payment is just a little more than I need right now. I was hoping to do a 2 year lease on a corolla by that time the 2017 Tacoma would be out with all the bugs from the first model year. And also that way I could save and have a better down payment.

 

Not sure on California ,but in Arizona the sales tax is determined minus the trade , if you have one.

example. New car price - minus trade = taxable amount. In Arizona I found it was trading in the vehicle.

 

Not sure how much your payments are and all, but if you want to keep the truck maybe you could look into a refinance on your loan. My buddy refinanced his GMC Terrain after 1 year. His payment dropped almost $200 a month. He did put an extra 4k toward it in that year. Also the refi was for another 72 month loan, so instead of having 60 months left on his loan he basically has a new 72 month.

I plan to do something similar after a year on mine. It will drop the payments a lot. I pay about $400 a month now. I will refi for a lower monthly but continue to pay $400 a month. It will more of be for peace of mind to know if theres a tough month I can pay a bit less. Or we could put the extra money toward the lady friend's student loans.

Just offering some options if you want to keep the truck.

 

I would but this truck is a lease.
I plan on buying the new Tacoma so I would rather save more now so I could have a bigger down payment.

 

Why would anyone lease a vehicle....????

It makes absolutely NO sense...!!
Save your $ and buy what you can afford...CASH... No leasing or borrowing if you don't gotta....!!

 

Not true. I used to feel this way but if you do your homework there are times it's better to just lease.

Just like in some situations it's better to rent a home than buy.

 

If you want to stick with Tacoma, they have pretty good leases on them right now. I leased my 2015 Tacoma and I am only paying 279 a month with only putting 1,000 bucks down. Granted I did a 48 month lease but 4 years gives plenty of time to see how the new Tacoma's are going to sell. 48 months is a long time on a lease but at least it gave me an opportunity to own a new truck.

 

Toyota dealership here in Montana sells 2 year old Tacoma DC's with 60k miles on them for like $29k often times. They'll sell the same truck new for $31k. These Tacomas sure seem to hold their value. This is why I bought new - and why I bought a Tacoma over the new Colorado.

You always have to remember the dealer is in it to make money. And you're in it not to lose any money. You might go in and talk price on the new vehicle before you even bring up your trade. Though they might ask you right up front. Just don't park at the front door. Park further away and walk into the lot if you have to.

 

Funny you mention that
I usually park next door and walk over for that reason.

 

That's not too bad.
I might look into that because that's close to the number I was looking for.

 

If you want a new car every couple years then it makes sense.
Plus with a lease you paying only the depreciation on a vehicle that's why your payments are lower. It basically works out to be same at the end of the day.

I agree it's better to avoid financing though.

 

I see what you are saying but everyone can't afford to do that.

Agree. Pretty much I got a 30,000 dollar truck and I am only required to pay around 13 to 15k on it in a 4 year period. If I would have financed it with what I put down on the lease....my payments would have been over $500 a month. Some people don't agree with leasing but it depends on how much you can afford, how much you drive, and what are you planning to do with it.