Does my trade value seem right?

I currently have a 2019 Tundra Crewmax 4X2 with the TSS off road package that is 15 months old. I somewhat recall paying $37,750 for it before TTL. I have been seeing around that some dealerships or even carvana is paying high prices for people’s vehicles. In my case not really, most places have been offering my truck right at $30,000 which is quite a lot of depreciation for a 15 month old truck. I currently have right about 33,000 miles on it which i know is a lot for a 15 month old vehicle. But even if i change the odometer on some websites down to 15,000~ i barely get another $1,000 or so. So am i the only one who seems to be experiencing this or can someone chime in for me?

thank you

 

That's strange considering all the news that dealerships are desperate for used trucks, and are paying premium prices now. Did you punch in 4x4 instead of 4x2 to see if that made a difference?

 

Carvana offered $18K for my 2014 SR5 with 70K miles.
Then I searched the same vehicle and found they offer a 2014 SR5 with 101K miles for $27K..

Kelly BB on my truck was $23K trade in, $26K private party.
That's pretty 'efed up..

Doesn't really matter though, I'm keeping this (paid for) truck until it no longer runs.

There is a thread on this...

https://www.tundras.com/threads/what-is-your-tundra-worth.70038/

 

Seems about right—the dealer has to make money. Anyone telling you they got a screaming valuation on their trade usually neglects to mention all of the other pieces to the overall deal, as the dealer is usually making it up somewhere. We also keep hearing how dealers really want to buy used cars right now (of course they do), just like how my local dealer has been emailing me the last three years telling me how they have "customers" looking for my exact vehicle and that they want me to trade it in for a new model.

 

I was at the dealer last weekend, and there were exactly 2 Tundras... we were both in for scheduled service.

 

Carvana picked it up early yesterday morning. 2020, 8 months old with 18k. owe 45k sold for 35K. But better than the 31K from other dealerships.

 

Rule of thumb is that as soon as you drive your new vehicle off the lot it depreciates 20%. Toyotas are a bit different and have a high resale value and dealers seem to be desperate for used inventory right now so you may find a better deal if you shop dealers.

 

So you paid $10k plus 8 months of payments for 8 months of a new Tundra? Not to get too personal, but why would you ever do such a thing?

 

You never said where you are exactly?
Maybe the location and the fact that you have a 4x2 factor into the offers?

I know some here have said that they have offers but not too many seem to follow through and get the big bucks either that I have heard.

A dealer is not likely to buy one and then not make money selling it are they?

 

The web sites might still be using the same database that is not adjusted for the current shortage. If you go in to a dealer for a trade appraisal they will be more up to date with the current market needs and offer you more than the automated web site. I have heard several stories recently of guys getting top dollar for 2-year old trades.

 

I am moving to Canada this month and in order for me to have more cash on hand to purchase a house there is to take a 10K loss on my truck, vs paying it off. Import/Export, registration and 15% taxation rules. I bought a Sequoia outright, sold the 2 race cars, 1 convertible, 1 compact sedan, 1 SUV also with neg equity, and lastly the Tundra.

 

You'll be freezing your ass off !!! I amfrom philly but been in Florida for so long when it gets in the 50's I'm cold anymore. I envy you, want to go back where there is mountains.

 

I’m receiving less than multiple anticipated value amounts.

 

Southeast Texas

 

You better take the $30K because you won’t get a better offer. The second you signed the paperwork, your truck dropped $5K. Add 33K miles and a year and you’re lucky to be offered $7,500 less than what you paid for it. I’m guessing this is your first vehicle? I’ve owned, between my wife and I, at least 30 vehicles. This is the way it is. 99.9% of vehicles depreciation at a break-neck pace.

 

I understand that new vehicles take a big hit once taken off the lot. But reason why i brought this topic to life was because many folks were stating how they’re getting high trade/sell values for their vehicles.

 

Are you getting another Tundra ? Or..

 

Once in Canada, I will. Just have to decide if I want to wait a year for the 2022, go with the 2021, or get a 2020 again, or just get a low mileage 2012 until 2022 shows up.

 

Well good luck to you,
Ive learned to never buy a brand new vehicle and take a 10k hit. Buy used if you can with low mileage. There out there if your patience. My current Tundra took 3 months to find on CarGurus. It was worth the wait, as every time I drive it , it’s Christmas morning all over again. Good luck Eh.