Trade in value 6 months old

Is there any truth to Tacoma's being hard to find these days to the point they have high trade in ?

I still owe 39,000 on my TRD Sport but debating trading it in (long story but the truck is actually too nice to be using it as my work truck).

 

Be careful. That is a high principle.

You could find yourself upside down on the loan for the next ride.

Even though Tacomas are holding or increasing in value.

The value is also impacted by your location and the local market.

 

Yeah if you have some buyers remorse they are getting top value for them right now.

 

Invoice minus $2k minus current rebate.

 

It is true in my area. There is a selling frenzy. Used tacomas are selling for around what you owe. I bought a new tacoma Friday. I gave my salesman a deposit check while I went to my bank. By the time I got back, 9 people tried to buy my truck. He said if I would not have given them a deposit, they would have sold it. Definitely a sellers market. Here is a bogus charge on another dealership's truck. The manager would not come off the extra charges because he said, "Someone will buy that truck at full price." The truck is a trd off road without technology package cement. Listed around $44,500. I found my trd off road listed at 42,089 with technology package with those rock rails that LOOK like sliders. Because of demand, I was not able to negotiate a lot off the price. I feel it was a fair deal because of demand and low supply.

If I were you, I would try to sale as opposed to trading

 

Get a quote from Carvanna. They are paying STUPID money right now. My 2016 Camry xse with 47000 miles is worth 17,300 to them. It stickered for $27,000 in 2015 when I bought it. Can you imagine what they’d give you for a Tacoma???

 

Most of the 2018 Tacoma’s with 30k miles or so are selling 2018 msrp price. Some of the carvana ads actually include the sticker. It’s insane. This is why I’m waiting for my dealer order. It’s actually about the same to buy new with the dealer discount and incentive. Makes no sense to me.

 

Sorry a rebate is currently being offered ?

 

Ya'll seen these ads on TV where companies will buy your house pretty much sight unseen - for top dollar?
They are snapping up housing left and right where I live.
We see Carvana paying TOP-TOP dollar for used cars, especially Tacoma's...

Gotta wonder why -

My theory is these brainiacs have figured out that pretty soon the cost of 'NEW' will be out of reach for most consumers.
The average 'NEW CAR' in 2020 was $40,000... when I was in high school a brand new nice house cost $40,000 ...

They will still make a pretty penny off the top-dollar they pay for your car.
They will turnover your house for a bunch of money and worst-case-scenario just hold it, rent it, then sell it.

In 4-years my house has increased in value by close to $100,000.
In 4 more years I predict another $100,000 or more and houses in the 'hood here sell in 2-3 days.

Employment numbers were plus 900,000 last month.
This vaccine is going to send the economy through the roof as people finally can get their kids back in school
and finally get back to work and not feel like their life is in danger - I've had both shots and what a relief to know
I can go places and do things ( still with a mask! ) but not fear dying because of this hideous virus.

 

To original poster:
You can get pretty much what you paid for it.
Where I live a local dealer has 86 Tacoma's on the lot per their website just now.
I'll post back in 5 days and let's see what that number is.... you may be SHOCKED too see how fast they go.
I've visited the dealership for weeks and saw for myself the turnover. Unbelievable. And they won't drop the
price by a dollar.

 

You’re looking to move a vehicle at a terrible time to be honest with the Covid parts and labor shortages. If you’re just selling, perfect but if you need to buy a replacement vehicle, you’re now viewing the market from the other end which isn’t pretty. Low inventory and top dollar.

I am 9 months from the end of my lease and I have my fingers crossed that the industry gets back to what it was by then. If I were going to lease again, it wouldn’t bother me but I want to buy the next truck so I have my concerns.

 

You may be able to extend your lease if need be.

 

That has crossed my mind and thank you for the heads up.

 

What’s the end of term buyout number in your lease contract? There are times when market demand is higher that was predicted when your lease residual was calculated that you could potentially buy it out of the lease and either keep or make a few bucks selling it yourself after the lease is up. Maybe not. Covid and shortages haven’t affected Taco values nearly as much as they have other market segments. Tacos have been strong for years. Year over year auction results haven’t materially moved, but you never know...

 

How about this one:

 

There’s always a rebate. If you can fog a mirror, there’s a rebate of some sort that rotates throughout the year that you can qualify for.

 

I’ll never understand this one. There’s a sucker born every minute, but I’d bet 2:1 against that $5k “Chicago region market adjustment” that you could find the same vehicle elsewhere within 2-3 hours’ drive from Chicago at or below MSRP (below if you are halfway diligent and find a reasonable dealer) with a few emails and a phone call or two. Ridiculous.

FYI, depending on the manufacturer, this is a great way to piss off your regional distribution channels to the point where you won’t be allocated any or as much of the launch specials or limited run stuff in the future.

 

Private sale it. Some dumb fuck will eat your risk.

 

Buy low, sell high. You don't sell high, then buy high and come out ahead.

Yea, someone will pay you top dollar right now for it. But you'll pay top dollar to replace it. Ride it out, pay it off and drive the crap out of it. I bought my 2007 new and have used it like a rented mule. Drove it 20,000 miles/year for a lot of those years, hauled stuff in it, drove it off road, and pulled trailers with it. It hasn't been babied. She has 212,000 miles on it, a few dings and dents with peeling paint on the hood, the seats are dirty as is the carpet. Other than normal maintenance the only thing done was replacing the alternator. In "normal" times it would sell for 40% of what I paid. I wouldn't be surprised to get 1/2 of my money back if I sold it right now. But then I'd have to buy another at inflated prices.

As always you lose too much money to trade while you still owe money. At a minimum keep one till you pay it off and have full equity as trade on the next one. Better yet is to keep one 10 years, pay it off in 5 and still get 50% or more of your money back after 10 years.

Toyota doesn't make anything too nice to be used as a work truck. There are people driving $80,000 F250 Platinums as work trucks.