Trading in a 2015 (65k miles) for a 2007 (240k miles)

First post so apologies if I'm not posting in the right section.

The second hand market has been hot lately and I've been thinking on capitalizing on this by trading in my 2015 tacoma with 65k for a much older 2007 with 240k. I'd be making close to $14k if I did this and it would be nice to add it to a downpayment for a house.

I've done my research on this forum and it looks like if there are no major issues to the 2007, it seems like I'm only losing out on future mileage? It seems like well-cared for 2nd gens go to about 300k miles on them anyway. Is this the norm or are these 300k tacoma's an anomaly?

Am I crazy for doing this? I don't desperately need the cash but it would be nice to have. If anything, I'm not really much of a "car guy". I know close to nothing about doing my own maintenance but I'm usually on top of regular scheduled maintenance with the dealer.

I want to be able to drive it for another 5 years if possible so give or take 70k miles more. Is this realistic? Am I going to end up with more repairs down the road?

Thanks in advance!

EDIT: 2007 is my dad's truck which he also bought second hand at 200k so who knows what issues it had. He says there hasn't been much problems with it at all. He's not pressuring me into this deal at all.. This is just me trying to make a quick $14k and looking at whether this is feasible or not.

 

Hmmm, one would assume you're getting 25k ish from the '15?
Try a cash deal around 6k for the older Taco... I mean, I have an 07 with, aside from real axle seals and an alternator, regular maintenance till now 190k, but I wouldn't pay any more than 8k for a truck with that kinda milage, unless some serious preventative maintenance has been done.

 

Thanks for the reply. I'm Canadian so i've been converting to USD and miles this whole time lol.

The 2007 is actually my dad's vehicle. He is planning on trading it in for an EV and Hyundai quoted him 9k USD for it which is crazy. So if it's 9k for the dealer, I assume it would sell more in the private market right?
I'm assuming I can sell the 2015 for at least $24k. Not really sure though.

 

Keep the '15 and never have to buy another truck again. I bought at 189K because I do my own maintenance. It was a gamble, that worked out. Since you aren't mechanically inclined, you probably wont know what problems to look for in that '07. Its really not worth trading hassle and a gamble for only $14K IMO.
EDIT: I wasnt aware it was your dads truck...

 

Thanks for the insight VanDoom. Makes sense.

Let's say hypothetically, even if I take the 2007 for regular maintenance, will it still be a gamble? Let's say I can take it to a reputable shop for them to check for major issues and whatnot. If the don't find anything major, would it still be a toss-up whether something bad can happen down the line?

 

Or take 2K from profit, buy exact same engine with low miles. Would be a all weekend swap though

 

I wouldn't, they couldn't pay me enough to trade a newer lower mileage truck with known history for an older 240k mile truck with unknown history.
Yes Tacoma's are known to go 200-300k without major issues but there also has to be at least some maintenance and care done to get them there, another thing to watch out for is rust on an older vehicle.

 

Did your dad own the 2007 since now? If yes that's way less of a gamble. I'd seriously consider it too

 

Does it have a new frame? It’s out of the frame replacement time period.

 

Your truck provides you with a slice of peace of mind in relation to reliability and longevity, your father’s truck will provide you with a slice of financial flexibility. The question you should ask yourself is, which option provides you with a larger slice of quality of life?
No one but you will know the answer to this.
Best of luck!

 

Don’t do it. 240k you can definitely start seeing some major repairs that may pop up out of nowhere. Random things like air conditioning system or cv axles. Not to mention the entire suspension will likely be shot including leafs, shock, lower control arms, tie rods. Steering system could also go at that mileage the rack or the intermediate steering shaft both which are big jobs. Plus every fluid likely needs to be done to hope for reliability at that mileage, both diff’s, power steering, coolant, brakes, transmission. Would be a really foolish trade if this is your daily driver.

And more importantly.. maybe the trans or engine goes bad before you hit 300k. These trucks are reliable but history of regular maintenance on all the things I mentioned is how they reach super high mileage in good condition.

 

I wouldn't!!! 14k doesn’t really get you anywhere when purchasing a home. Borrow that and know you have a truck that will save you money over the long run. Or you could be out a lot more, plus big purchases should be avoided from family IMO.

 

Thanks for the responses! It's a resounding no so I'm glad I asked!

 

Has your current, or your dads been undercoated yearly? If no, start now! Rust Check, Krown, and others will significantly prolong the life of your tacoma.

 

Meh I wouldn't worry at all about the miles on the 2007. My parents and I put 450k on a 98 Tacoma and it was all original except the shocks and a few timing belts

 

Welcome 2 TW!

My thoughts, wait & see if they offer more. If not, say no -you'd like 16k or you decline. Play hard ball like them!

 

This a bit confusing, are you going to be trading your dad for his truck?
If so, NO. Never do business with family, EVER.

2. I own a 2007. You either have an open Diff or mechanical limited slip diff.
Open diff sucks unless you are in 4WD, and the LSD isn’t cheap to replace if it fails.
Not to mention, there is no hands free for a cell phone. So, you have to upgrade stereo system.

I say keep the 2015

 

Keep the '15. Your future self will thank you.

 

keep the 15.