Trade-in?

Ok! Need some good advice here guys. I went to Longo Toyota today after work to get some appraisal of my 2006 Prerunner TRD off road package, short bed (di badge all emblems, trd sticker off, painted my rims, caliper, brake drums and some in the front grill. lol!) and already has 99700 miles on it. Planning to trade my truck in to 2013 TRD Sport Long Bed 4X4 with Navi everything. The thing is...they can only give $12,000 trade-in vlaue. They said the Right side of my bed was repainted which is NOT true. I don't know about the first owner by the way I got it Certified Used from the same dealer "Longo Toyota" with 60,000 miles last Sept 2009. I still owe them less than $12,000 on this truck. You think should I trade it in? Ohh.. Also, the agent saw my registration (Mrs. Smith/Mr. Smith) this is about slash "/" and "or" and he said "Mrs. Smith need to be here to sign for trade this truck too." Does Mrs. Smith really need to be there? How about refinance too? Thanks guys!

 

Longo is in business to sell new Toyotas, and some used ones.
They are not in business to buy used trucks.
IF you trade in, they will likely send it straight to auction... 6 years old with 100,000 is above what most dealerships want on their lot.
Your mods did not help the value, particularly the painted grille and rims.

I bought mine from a Chevy dealer.
Not a fair comparison because mine is a 5-lug base model regular cab 2wd 2.7... but I paid $13,500 for my 2008 with 53,000 on it.

You want better than the trade value? Nobody will pay more than Carmax (or private party).

 

Thanks! But do u think should I grab that? How about the (/ and or) Is that really TRUE?

 

I've never seen a title with a "/" between names.
The two ways to title are "and" or "or"... however, only the people on the loan may be on title, and if two people are on the loan, it will be titled to both.

If the title (registration) says "or", then only one signature is needed for the transaction. I personally title all of my vehicles that way so my wife doesn't have to deal with probate if something happens to me.

If the title/reg says "and" then both signatures are required to release interest.

 

/ means the same as "and" wife works for DMV.

 

Damn... I'm getting divorce! The only reason why looking forward to let go of this truck that's why. She want her name out in this truck. Thanks!!!

 

tradding in vehicles is, IMHO, one of the biggest rip offs there are. they may say they'll give u 12k but then if there is any other promothing it most likely states something to the effect of "not to be combined with any other promotion". if you still owe on ur 06 i would put it up for sale. its a bit more of a headache i suppose but ur truck is worth alot more than that. i gave 13k for my 05 last year with 142k on it and it had adent in the tail gate where someone got a little close to a trailer. and i got a freakin steal on it KBB for 16,900. theres no way i would take less than 14k if i was sellin ur truck.

 

OP as Rich has stated already "If the title (registration) says "or", then only one signature is needed for the transaction. I personally title all of my vehicles that way so my wife doesn't have to deal with probate if something happens to me."
Now in your case if your wife is on the title or registration (in SC) both parties have to sign to trade in the vehicle. Not sure how CA works when it comes to that. I would recommend selling the truck, but since you want to be done with it - I guess trade it in.

 

trade in is a fair price, 12000 less in taxes to pay. being that you still owe on your truck your wife wouldnt have to sign until they get the title.

 

The way I see it, you will never win on a trade in. Dealers always low ball you on trade ins. I say go get another estimate somewhere else that way you know about how much dealers are going to take it in for. I just got rid of my daily driver (civic) and got a few estimates from dealers at about $9-10K and CarMax gave me $11K for it which was the closest to the KBB and Edmunds appraisal.

 

You always lose on Trade-in......I sold a 2003 Tacoma on Craigslist in 3 weeks and sold it for $4500 more than Carmax was gonna offer me for it.

 

Thank you guys!

 

post it up here and on craigslist and see what ppl offer you.