What’s the best way to trade your current Tacoma in for a new one?

Basically just as I described, but I have to say it again - it just does not matter at all that you are trading a taco for a taco. Zero. That's fundamental to understand.

In my experience, the best way is to negotiate the price of the new one first without even a discussion of a trade. Honestly, better still if you do it via email before even setting foot in the store. Meanwhile, get a buy bid from Carmax and a few other stores (toyota and other). Compare those to online resources like kbb.com trade in (wholesale) value. Sure enough, they will likely be basically the same number - within a few hundred bucks or so. That pretty much tells you what yours is really worth because most of the time they're all selling them to the same auction house anyway. Many times, the trades don't go back out on the lot for retail. There are a number of reasons for this, but they just don't.

Now you've got the basis for a reasonable deal. Part II of the lesson would be how NOT to get taken in the F&I office. You'll get fair market value for your trade and (hopefully) a decent discount on the new one. If you do all of that correctly, the dealer makes a little money, you enjoy your new ride and everyone lives happily ever after. Trust me: you'll never get one over on them and they'll never go hungry.

 

I agree with most here. Dealerships aren't in the business of giving you a great deal. They're all in the business of maximizing profit or minimizing loss. If you want to do the same, sell private party. If you value convenience, figure out how much that convenience is worth. Private Party value - convenience = what you want from the dealer. Like others have said, gets quotes from Carmax and the like since those will be low pressure (they're not muddling the equation by trying to sell you a car at the same time).

 

NOTE in most states you are taxed on the full purchase price of the new car.
In many states, if you trade in your car, you are only taxed on the difference (purchase price minus trade-in allowance).
If you are trading in a 2018 Tacoma, that could represent thousands of dollars in taxes saved on the out the door cost.

 

I've done two trades and both times I was not buying a unique vehicle and was willing to walk. Would be harder when it's an Access Cab with a manual, which is like a unicorn at least in my area.

 

Harder how? Just because the access cab isn't easy to find? The trade part (i.e. the dealer buying your vehicle) doesn't change.

 

Dealers respond MUCH better when they’re selling their inventory.

 

Dude, you lost me again. What do you mean? The dealer's response is the same: you're going in there to trade (SELL) them whatever you drove in with to BUY their inventory. If you're once again suggesting that you'll get a more favorable deal on the new one somehow if you are SELLING them your vehicle that happens to be made by the same company, that's just not true. At all. Ever.

I didn't want to bring this up earlier so as not to muddy the waters, but the sheer irony is, some dealers are incentivized from time to time to give you MORE trade allowance if you have a competitor's product to trade. Sort of a regional thing that happens on occasion. It's called a conquest sale. But that's for another day...

Again, I only say this to debunk common misconceptions about car deals. I feel badly about people having buyer's remorse or feeling jilted somehow when they walked into a dealer with a head full of false or misleading assumptions and walk out feeling screwed.

 

Dealers like to sell the cars on their lot rather than fetch one at another dealer's lot and will give more favorable pricing to sell their inventory.

 

Oh. Well then, I can finally agree with you that one. Yes, that's generally right. Come on down to the ranch and I'll buy you a cold beer.

 

Sold my 2018 Tacoma on Craigslist for $35k. Went to the buyers credit union with them. I wouldn't trade in to the dealer.

Carvana quote was: $33k
Carmax quote was: $32k

 

Exactly.