Vehicle trade-in on Tundra in transit

Good morning all,

For those of you that negotiated a deal with a dealer for a new Tundra that is "in transit" and not at the dealership yet, how did you handle the transaction for your trade-in? Did the dealer expect your trade-in soon after agreeing on the purchase amount or did they allow you to wait until your new Tundra arrived?

I'm curious that since they know there will be more miles on the trade, if they expect to receive the trade in immediately? Or is there a chance they could lower the trade value since it will have more miles by the time the new Tundra is in? Thanks in advance.

JR

 

Once the Truck was in build we had our 19 Limited appraised so that we had a rough idea of what the Dealership thought our truck was worth, the Dealership did guaratee that price for a week but the truck was at least a month out so we knew the trade-in would change. When the 22 Limited came in, they did another appraisal (our truck value had gone up). We ended up paying MSRP for the 22 and we traded our 19 in for what we had paid for it, so it actually work out for us in the end. I offered to give them the 19 after the 1st appraisal to lock in the deal but they would not do it......trade-in would be done when the 22 was on the lot. I'm assuming that in the vast majority of cases in the current market, trade-in values decrease on a weekly if not daily basis. Last month we traded the 22 limited in for a 23 Platinum, the Dealership gave us a great trade-in $$ but when they listed it up for a used sale, it was listed at $7,000 more than we paid for it new.......Crazy

 

We agreed on a price and put 500 dollars down. They gave us their price on our trade-in. We accepted, and they let us drive the car until the new vehicle arrived. If you wreck the trade-in they adjust the price accordingly or they tell you they are not interested in your trade-in anymore. Either way you have to make up the money. They are not worried about you wrecking it. They know they will sell the new vehicle to someone else in less than a week.

 

Wow, that is certainly impressive that you got what you paid for from your '22 Limited! Thanks for sharing.

JR

 

Good to know, thank you for sharing the details on your purchase.

JR

 

In the current market used values are rising. So a few thousand miles on a trade in won't affect anything.
One of the reasons that the used values are rising, is because people are hanging onto leases, and buying them out, instead of getting into a brand new vehicle with higher rates. So fewer returned leased vehicles are showing up on dealer lots.

 

I traded in my 22' 1794 towards my 23' TRD Pro. I put 27K miles on it and they still gave me the high end of KBB trade-in value. It also had a chip in the windshield. Like @Chugbug's scenario, it was listed on the lot for the same price I paid for it new. I know they do that to have some wiggle room, but trade-in values are still pretty solid.

 

Negotiated price, valued my trade in and signed purchase agreement. Waited 2 weeks, took off what I could on the Tacoma (sliders, roof rack, lights. Had to leave the wheels, front and rear steel bumpers).

When it was time to pick up the new truck, all they did was just glance at the miles on the trade in.

 

When my wife traded in for her 4Runner they gave us a loaner until it arrived. We signed up with the Vin to the Toyota app and we’re able to see every time it was moved. We knew it was on the way before the dealership called us.

 

The dealer I worked with did not want to give a trade in value until the new truck arrived, which I found understandable. It worked out though, I had a minimum I'd take for the trade in, their "appraisal" was less, I countered with a bit more then my minimum and it was done. Ended up getting what I originally paid for on a '20 SR5 Tacoma (2wd) with 50k miles. Would have been a little more probably if the trade in was done when the deposit was put down on the Tundra, but I'm happy with the total deal.

 

My dealer will honor the trade in price when the truck arrives. My platinum is due next week, I hope.

Been 45 days since I approached the dealer to trade in my 2006 Tacoma. Damn that Taco is one fine truck.

 

first off, i put a $1000 deposit for a tundra (which i didnt have an issue since we were going to buy one from them anyway since they were the only dealer in the state that was giving almost 5k off msrp. i was very willing to wait for a truck from them (even though it took 10 months).

on our deal, once we got confirmation on the build the dealer wrote up a contract for pricing on new and trade in and the contract was good for 120 days. luckily the truck after delays and qc holds still came in before the 120 days.

contract was dated 4-nov-22, drove off the lot on 22-feb-23.

msrp : 67,782
discount : 62,758
trade : 40,500

you can follow my deal link in my sig

the trade in was the only variable that would have changed if the finalization was done after the 120 days. i think my trade in dropped to 38,500 when i looked it up on kbb. the discount for msrp wouldnt have changed.


edit : also to add, our discount 2018 was 47,749 (msrp was 53,015)

 

Thanks for everyone's responses. Good information to go on!

JR

 

So, why no dealer info in your dissertation here or in your signature link?? We are super quick to bash dealers that are hammering people w/ADM, etc. but when a dealer is treating people right why not name them

 

My dealer was pretty damn good with my deal…

$1000 down in September of 2021 on a new ‘22 which I didn’t receive until Jan 2nd of 2022.

Dealer (Rodland in Everett, WA) allowed me to keep my 2015 trade in all those months and honored the price which was on very top end of KBB value.

I think I barely registered 500 miles during that time either way…but was pleased I didn’t have to do a rental or go without.

 

I waited 7 months for my truck. The dealer honored our trade in price 100%. They said as long as there wasn't significance mileage or any damage it was fine. I was kind of expecting them to mess with me on the trade in price after so much time went by.

 

1. the dealer will only sell within a 100 mile radius (based on your home address), so anyone from nd will be able to figure which 6 dealers in the whole state it is

we already know the fargo dealer is doing ADM, the one in bismarck is doing only MSRP (except for the discontinued land cruiser they have)

if you need to know i can always dm you.

 

No, I'm good brother; I have the truck I want... I had no idea what state you were even in, and I just think it's nice to honor the dealers that ARE treating people right since so many are taking advantage of the market conditions over the last few years.

Congrats on your new rig, and I'm glad to see someone being treated right by a dealer they've done a ton of business with; this is how it should be

 

yeah just sadly they are restricting it to local sales only. personally i like it since it leaves more choice for locals to buy instead of out of state people drying out the well. and this dealer is not lacking in selling toyota's . a new toyota is usually sold before hitting the lot or sold within a week on the lot. i had my paperwork done within 24hrs after the truck was unloaded and that included me sleeping and going to work.