Trade value

so for shits I’ve been eye balling the type R for a fun daily and track car. I was going to buy it outright in addition to the taco and Highlander but due to garage space limitations I decided to see what they’d give me on trade for my 17.

Details- 17 OR fully loaded. 10k miles. Auto.

Gears and wheels/tires add value to me but not trade.

They came back with 27k. Truck stickers for over 39k and I picked it up for 35k.

I laughed and told them no way and due to their low ball offer I wouldn’t buy the car from them even without the trade.

Still I was shocked at the offer. Salesman said they likely couldn’t sell it for more than 30k.

So where’s that resale value I’ve been hearing about?

 

Here in Oregon, 17’s like yours are asking $33 to $37 (I paid $35 new for mine in March of 17). I think a realistic price to ask would be $31 or 32.

 

It's a one-two year old truck, that's when depreciation hits the most. It holds t's value more over time. There are 10 year old tacos selling for 19k that's the resale value you'e been hearing about. Also a trade in is never going to give you your value you're going to want to sell it yourself. If you want i'll give you 27001 for it

 

Because you are trying to trade something one year old and that dealership has no interest.
For reference, your truck will be worth about 70% of $37K or about $26K after three years. This vehicle has the highest residual value of any vehicle made today. You lose if you trade in year one or two.
Were you expecting it to appreciate in value or something?

 

I noticed you can get used dealers to overpay for Tacomas. Lost no money on my year old tacoma a year ago. Even Better when you figure in the taxes saved.

Toyota dealers won't be doing that though.

 

Dealers in my area sell a used Taco with under 20K miles for about the same as new.
It depends on the area you live in too. Here in Oregon Tacoma’s have great resale values. I could go on CL and sell mine for $33,000 at the minimum easily.

 

My Tacoma's have had fantastic residual value:
Paid $21,100 for my 2000, got $17,100 8 years later
Paid $25,500 for my 2008, got $20,500 7 years later
Paid $30,000 for my 2015, got $28,500 1.5 years later
Hope the current one does just as well.

 

Also depends on what value you are trading for too. If you are trading for same or lower priced vehicle, you won't get a good offer. If you are trading for a higher cost vehicle, you will get a better trade.
I was at the dealership recently, mentioned how I liked a voodoo blue Tundra Pro, they offered me list price on my Tacoma for trade lol. It's all about the deal. Never trade on price of vehicle. Trade on the difference.

 

I take it a step further and never trade.

 

As new Tacomas increase in price, I think that brings the older Tacomas up in value. Unlike Tesla that has lowered prices which should hurt the resale of older Tesla cars.

http://fortune.com/2018/06/27/tesla-model-3-cheaper/

 

I'm in Walla Walla, Washington and I feel like I got a smoking deal on my 2016 TRD OR w/ premium,tech,towing and all weather packages with 22k miles, I picked it up two weeks ago for 28890 before tax and lic. They had it on the lot for 34k

 

In the past, I’ve found kbb’s value my car calculator fairly accurate in what dealers offer on trade ins. Ymmv.

 

Do any of our used 3rd gen buyers find they have purchased one of the trucks with the rear-end "howl" or vibration problems? I'm just wondering where all these trucks are ending up. That was another reason I went new, didn't want to inherit any issues.

 

I’m looking at a loaded BMW M550i Monday evening. I’ve only had my truck for about 7 months but with headache after headache, I think I’m done. I know I’ll probably only get offered a couple thousand less than I owe but I don’t care. If the dealership can get to that point, bye bye Taco. If not, I’ll wait until next year.

 

I haven't noticed anything of the sort, but now ill be hyper aware and possibly fabricate something in my head.

 

Just buy the Civic and sell your Taco privately

 

That salesman is full of crap. He is straight lying to you. I can guarantee they’ll have it up around $35-37k. They know the market. They are not going to undersell. Otherwise they wouldn’t be in business.

For reference, I got around $33k trade in on a 2017 with 9k miles. Of course, that number gets murky when you’re buying another vehicle. But I thought I got a good deal on both ends.

 

Remember asking price doesn’t mean selling price. You even said your truck stickered for 39 and you paid 35. They may put it up for sale for 34 and sell for 30. I know I personally wouldn’t buy something used and with an unknown history when for 15% more I could get it brand new and know the history and be the first to fart in that seat - doesn’t matter how old it is, it’s unknown history for close to the price of new. I’d need a discount more than 15%. At 5 years old when the truck is still worth 25k or 10 years old and still worth 22k that’s still decent depreciation, because the discount with worth the risk of buying used, and the dealership always makes money, they don’t have time to trade your truck and not make money on it. If they gave you a better trade in price, they would give you a worse price on the new car.

 

Yup! Great deal, but pictures or it never happened!