Trade in on 2024, ouch

Private sell or car buying company like Carmax or Carvana I agree with. Dealerships using the tax savings gimmick is BS.

 

https://www.kbb.com/awards/best-resale-value-cars-trucks-suvs/

 

Used car margins are about 15%. 36K / 0.85 = $42,352. They aren't getting that much for it, when new ones are going for less. Consideirng it's a MT, if they could expect to sell it for $40K at best, that would be 10% margin. Tax benefit would makes it equal to a $39K+ private party sale.

Do the math any way, and it's actually a pretty good offer.

 

In this thread.... OP doesn't understand basic business of car sales vs insurance.

 

Car dealers use software programs to track exactly what you paid for your truck and any sales negotiation offers that were made if you tried or bought a vehicle from them. The cards are stacked against you.

 

Correct. My son bought a used Infiniti G37 for $13K. He totaled it less than a year later and the insurance paid him $15K. Sure his rate is now doubled but the OP thinks insurance pay outs are the same as trading in a car. Clearly has not done this dance very often. In time he will learn reality.

 

Traded my 2024 OR With 9000 miles -Paid $51k Received $37k Not happy, but it is what is.

 

Why trade? What ya get?

 

25 TH

 

Did you pay MSRP on your 2024? We are back to normalcy with 30-day inventory levels and multi-thousand discounts off MSRP (like before covid). Gone are the abnormal years with empty lots and 14-month wait times, at least in the US.

 

My 20 last time I went in for fun just to check out the new 4th gen they offered me 28k for my 20 off road with 62k miles. I paid around 36k . So the offer wasn’t terrible but being that’s it’s almost paid off . I’ll keep driving it .

 

Traded my 24 sport for the trailhunter in sep sport had 4k on it dealer gave me 46k and that sport is still on the lot at Toyota of Rochester now discounted to 42k

 

TrAiLhUnTeR

 

a '24 with 5K miles- the dealer will want to sell that as a Certified Pre-Owned. That requires the Inspection, oil change, any minor dings taken care of, etc... Usually $1500-2000 worth of work, even on a vehicle with only 2,000 miles. Add in markup to make it profitable/sellable, and their offer is not out of line.

 

Not sure how anyone could be surprised that a dealer doesn’t want to offer much on a used version of the same truck they’ll discount $5-10k brand new.

Trade-in offers are spot price, so patience is required until all the new ‘24’s clear out. Trade in a 2024 today, and watch your money evaporate. When lopsided inventories balance, you’ll see used values level off and/or lift off. Consolation is that while you wait, you’ll be driving around in a really good truck.

Inversely, as many have pointed out, right now is arguably the best trade-value play that you’ll ever see on a Gen3. Which means that if you’ve wanted a new Taco, for once in your lifetime you’ve got your local Toyota dealer completely over a barrel.

 

After making a lot of car mistakes over the years I can understand the surprise/shock at the trade in value.

I've personally found if I've bought a new car just enjoy it and not look at the value for a long time. Especially to trade in the next year. I say this with the caveat being the last few years haven't been normal for the car market. Again my personal opinion but I bought my Toyota for the reliability and to keep it a very long time knowing with proper maintenance I can probably get 250,000 miles out of her.

 

My dealer sent me an email offering me full msrp for my truck a few months ago, without me asking.

 

I'd take that offer on Monday. I wish.

 

I am confident that is a bait and switch.

 

It wont lose any value if you keep it.