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Trade-in value shock

Discussion in '3rd Gen. Tacomas (2016+)' started by Kamille.bidan, Nov 21, 2020.

  1. Nov 22, 2020 at 7:27 AM
    #21
    Interbeing

    Interbeing A Canadian living in Texas

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    I think I would try to negotiate with your wife on the cash back amount. The 2011 is barely broke in, and if it is in as excellent of condition as what you state, $21K is an excellent price.
     
  2. Nov 22, 2020 at 7:44 AM
    #22
    ret42

    ret42 Well-Known Member

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    Totally agree, though there are exceptions and Toyotas make up a lot of them. Tacomas, 4Runners and (especially) Supras will often sell for more modded than left stock, assuming everything is well maintained, installed properly and tastefully done. Dealers aren't ignorant that people want to buy a Taco, lift em, throw on new bumpers, etc. My local dealership had a 2020 trade in that was lifted on some bigger tires. They were asking $43k for it. What did the previous owner get in exchange? No idea, but the MSRP before those mods was $41.5k.

    Regardless your second point is bang on. Sell it on Craigslist, Facebook, ebay, here, etc. and you'll be in a better spot (and reach a broader group that's looking for what you're peddling).
     
  3. Nov 22, 2020 at 7:53 AM
    #23
    TacoBella

    TacoBella Well-Known Member

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    Try Carvana. Get a buy quote within minutes. I bought a new 2019 Ranger Lariat for $39K cash. Carvana paid $36K cash for it over a year later. That's some great resale. ITs the only reason I sold it. And leased a Ridgeline. Try Carvana......

    Tacoma has good RE sale. Not necessarily good trade-in values, big difference.

    Sell-or-Trade-In-Your-Car-Online-Carvana.jpg
     
    BlkTaco47 likes this.
  4. Nov 22, 2020 at 7:59 AM
    #24
    Tullie D

    Tullie D Well-Known Member

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    Imagine that. :crapstorm:
     
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  5. Nov 22, 2020 at 7:59 AM
    #25
    BankrupTaco

    BankrupTaco Well-Known Member

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    I have a 2018 OR SB (cement) with 14,500 miles A/T. I got a trade in quote for $33,500. I believe your mileage and transmission are hurting you a tad. I know M/T vehicles are valued at less than A/T since the A/T is looked at as luxury. May sound weird but I speak from experience lol
     
  6. Nov 22, 2020 at 8:01 AM
    #26
    Interbeing

    Interbeing A Canadian living in Texas

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    What prompted the change from the Ranger to the Ridgeline?
     
    Mrtacoman88 likes this.
  7. Nov 22, 2020 at 9:00 AM
    #27
    Kamille.bidan

    Kamille.bidan [OP] Well-Known Member

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    That vehicle is going to be sold real fast.
     
  8. Nov 22, 2020 at 9:02 AM
    #28
    PuyallupJon

    PuyallupJon 2020 AG Pro

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    Do you get a tax break when you trade in? You might consider that.
     
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  9. Nov 22, 2020 at 9:04 AM
    #29
    Kamille.bidan

    Kamille.bidan [OP] Well-Known Member

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    So far.

    Carmax with visual inspection was $27K
    KBB instant offer was $25K
    Carvana was $0 due to mods

    Lexus would give me $27K

    I got a private offer for $27K. I told him $28.5K or no deal.

    I think 27-30K is the market value of my car.

    Manual owners should take note. You will take a hit on the resale compared to the automatic.
     
    BankrupTaco likes this.
  10. Nov 22, 2020 at 9:05 AM
    #30
    Kamille.bidan

    Kamille.bidan [OP] Well-Known Member

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    I am not sure. I am CPA. I probably should know that.
     
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  11. Nov 22, 2020 at 9:10 AM
    #31
    Taco_Coma

    Taco_Coma Go West Lloyd

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    Carvana was offering a lot, but now their prices near me have lowered a lot
     
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  12. Nov 22, 2020 at 9:11 AM
    #32
    GreyBaldTaco

    GreyBaldTaco Well-Known Member

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    I love my wife's GX, you are making a good choice.
     
  13. Nov 22, 2020 at 9:12 AM
    #33
    BSFord

    BSFord Well-Known Member

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    LOL, this guy again :facepalm:

    He sold his during the stint right after toyota halted production on the Tacoma. There was a nationwide shortage and dealers were scrambling to get used tacomas because the new inventory was low to none. Dealers are still having inventory flow issues to date, but the situation is vastly different now than it was back in July-August, that and the 21s are already out as well, effectively making all our trucks one year older too. Seems values have come a bit back down to reality in recent weeks but used prices on these truck are still great and as others have said you will be certain to get way more selling private party.
     
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  14. Nov 22, 2020 at 9:12 AM
    #34
    na8rboy

    na8rboy 18 DCLB Sport Cement

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    That's because they over bought, months ago. Sitting on to many.
     
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  15. Nov 22, 2020 at 9:15 AM
    #35
    BankrupTaco

    BankrupTaco Well-Known Member

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    Have you taken it to the dealer where you plan on getting the tundra? I would go ready to buy and when they make you an offer tell them what you want to get or no deal. It’s worked for me in the past. I got an extra 2k on a trade in. Just read over all the paperwork before you sign lol. May or may not help.
     
  16. Nov 22, 2020 at 9:16 AM
    #36
    INT.EGRATED

    INT.EGRATED Well-Known Member

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    Just got quoted 23k from carvana. I paid 35k last year :spending:
     
  17. Nov 22, 2020 at 9:25 AM
    #37
    Plain Jane Taco

    Plain Jane Taco I can't swim Clark. I know Eddie

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    I know some of the manual lovers around here might not believe that. But it really does ding the value some. Ultimately it's what will help to sell the vehicle....but not before 200 people walk right on by once they see 3 pedals. It takes that one special person to want one. Extremely low demand = lower value.
     
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  18. Nov 22, 2020 at 9:34 AM
    #38
    Marshall R

    Marshall R Well-Known Member

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    They give you $27K in trade. Clean it up, service it and list it at $33K, but will probably take $30K for it. As an individual you won't come near getting $33K for it, maybe $30K, MAYBE.

    If you trade in most states you pay tax on the difference. If I buy a $40K new truck and get $27K in trade I only pay tax on $13K ($975). If I sell to an individual then buy the new truck I pay tax on the full $40K ($3000) Here in GA that would save me $2025 in taxes when I trade. I have to be able to sell my old vehicle for almost 10% more than they offer me in trade just to break even.

    I'd need 15%-20% more to be worth my trouble. Selling a used vehicle is a PITA. Dealing with contacts, people saying they will come and never show while you cancel plans and wait. Everyone wants to low ball you etc., then they have to wait to be approved for financing. It can take months to get the price you want. If you buy new 1st then try to sell you have to pay insurance and maybe taxes on the old one while you wait. To save a few hundred dollars at most. My time is worth something.

    On the other hand if the old vehicle is a beater worth $2K or so selling makes a bit more sense. Buyers at that price will usually have cash and you don't have to deal with them getting financing and the small difference in taxes isn't a deal killer.
     
  19. Nov 22, 2020 at 9:35 AM
    #39
    Interbeing

    Interbeing A Canadian living in Texas

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    Wow, that's a big hit depreciation wise. Lots of mods, I was told to expect only about a 25% return on investment for aftermarket parts and accessories.
     
  20. Nov 22, 2020 at 10:08 AM
    #40
    GumShoe

    GumShoe Well-Known Member

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    Got my 2016 SR for $32k. At about 50k miles, my local Toyota dealer offered a trade in value of $21k. Another pre-owned tacoma, same trim and everything, on the lot went for $29k. It’s common for trade-in values to be on the low end.
     

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