Offered 38,000 for 22 platinum.

I tried to trade in my 22 platinum with 19,000 miles and the dealer offered me 38,000. It does have some hail damage but he specifically mentioned the two open recalls.

anyone have success not getting screwed on trade value?????

I’m irate.

 

It's no secret dealers don't want the 3rd gen trucks back.

 

Dealers gonna deal man. They’re trying to make money. As much as they can. And your truck has a pretty major recall on it right now for a MOTOR REPLACEMENT. Likely they cant sell it until the recall is performed. So they would have to sit on it for months. Surprised any dealer is trading for those.

 

The major open recall will definitely hurt you on trade-in. Any reason you need to trade it in now and take a bath? I mean, you're gonna get a whole new motor soon. Assuming you still like the truck outside of fear of the motor going tits up? Why not keep it for now, get the motor replaced under recall and then decide after if you still want to keep it or get rid of it. JM $.02.

 

IDK, it seems that Toyota dealers at least should be more receptive to taking these. They can get the recalls done and then tell potential buyers that they have brand new engines with (hopefully) refreshed or extended powertrain warranties.

 

Any new vehicle looses 10% of its value the moment you drive it off the lot. Hail damage also considerably lowers the value. You also won't get back the Tax and Delivery Charges. Seems like the offer was pretty reasonable.

 

At $1,900/month I’d rather not make any more payments. The truck served its purpose but that purpose has passed.

 

Your car payment is 1900 a month?!! Holy hell, the dealer saw you coming from a mile away, that is totally INSANE!!

 

Depends on length of loan.

 

Nope, I disagree, if you have to take out a loan and your payments are that high, you cannot afford it!! A vehicle is not worth paying almost 2K a month for!! Capstones are like 80K, unless you are a millionaire, that is total insanity!

 

They would still have it on their lot, paying interest, for months. Or wholesale it and have it someone else's problem. Either way, not a good time to be trading in a 3rd gen with the recall.

 

You are wrong. Extremely low interest rate when the finance charges are a write off = no brainer. Financed the entire purchase with 0 down over 3 years.

the real point is I should be able to sell the truck whenever I want. I should not have to wait 6, 12, 18 months for a recall solution.

 

The real question is are you upside down?

 

This is my exact face every time I see my bank statement when the payment hits. Ha ha ha

 

I don't doubt it.

 

Math is hard......

 

Let’s call it 10% per year and take off another 3,500 for the hail damage. That’s still about 47,000

 

You CAN sell it whenever you want, for $38,000. You're just not getting whatever premium you think it's worth. Did you factor losing 50% on that into your "low interest" $1,900/per month plan?

 

No it doesn’t.

 

I’m just here to say that’s more than my mortgage.

 

Meh, I guess I am too much of a Ramsey believer!! Waste 80K on a vehicle, or waste only 50-60K MAX on a vehicle and invest the other 20K into retirement or just invest it and have it for a rainy day, or just in case Murphy knocks on your door!! I just cannot even fathom putting yourself into that much debt for a DEPRECIATING ASSET, no matter the interest, and zero down is NOT a positive thing, as you are now finding out, since you are likely extremely upside down in this I would assume! I also try and think of the potential future, which could include full disability if I get injured or sick (ie. can no longer work), or job loss, do you have the money in the bank to pay the loan if god forbid that happens? Lots of terrible shit happens to people and some people finance their lives to the point that they are one missed pay check away from being homeless ( I am by no means saying this is you). A LOT of folks take on debt only thinking about their current status, with no thoughts about a year form now, or ten years from now, or all the oh shit moments that could happen. I also cannot see how you can "write off" finance charges, unless your truck is a business vehicle or you live in a state that allows that! Anyway, just my own opinion, you're an adult, you do you!

I see your point, but unfortunately you, like many others are having shit luck right now and no individual dealership is going to buy your truck for whatever you think the trade in value is only to have it sitting on their lot for months costing them money in both insurance and depreciation!!

-T

 

DITTO. I live in a high cost of living area and that's more than my mortgage, taxes, and insurance cost monthly!!

 

What mortgage? I had one of those once upon a time...

 

Haha, that's great, and I will be saying the same thing hopefully in a few years, and part of the hope is not taking on any other debt!! My Toyota dealer keeps calling trying to get me to trade my paid off 2020 and buy a new POS Tundra (I have a right to my own opinion), and I am like HELL no!!!

-T

 

1900/month....wtf??!?!! Thats a mortgage or something I would expect to hear from a Lambo owner.

 

Thats funny, I've had two or three calls from the dealer about trading mine in on a 2024, hell to the naw!!!