Trade in opinion

So wanted to get some feedback from the group. Looking at possibility trading in my 18 crewmax on a CPO 21. The 21 was purchased by a car rental company that due to the pandemic never took possession of it. However it was bought and titled so it can’t be sold as new. The truck has 3 miles on it, comes with the full factory 3 yr/36000 mile warranty AND has the CPO 7yr/100,000 mile drivetrain warranty. Payments will be a wash. Mainly looking at the comfort of the warranty as the 18 just came out of power train warranty. Thoughts?

 

What do you mean payments will be a wash?

How much extra will it cost you after all is said and done and truck is paid off?

If warranty was a concern, why didn't you just purchase extended warranty on your current truck before the time lapsed?

 

do it

 

It can’t really be considered a wash when you extend payments…..if the 2018 is close to paid off then I would stick with it. The 2021 doesn’t offer much more in terms of creature comforts. If it’s the warranty you want, I would call Jennifer at wolverine Toyota and have her quote you an extended warranty on the 2018.

 

I mean it won’t change when the truck would be paid off by. I was really upside down on the mini that the tundra replaced, but with current values it makes up for it and then some. The extended warranty when I got my truck, the dealer quoted me a stupid amount. And we buy Toyota’s because we don’t need the warranty.

 

If it doesn't change when truck is paid off or cost $$$ more....I'd say go for it.

You'll have all the TSS electronics etc, which may be good or bad, depending on how you see them. I see them as a good thing.

 

I have all the tss stuff right now. The two changes are the push button start and loss of the trans cooler. Loss of that cooler bothers me, but I don’t think it will be a huge issue in Alaska.

 

Second that....

 

Length of loan time won’t change but how much is your payment increasing by?

 

20-50 bucks

 

Right now my 7 yr old is voting for me to keep the inferno over the 21 heritage blue

 

Again...what is the total price difference going to be?

$50 a payment for 8 years will add up. $50 for 3 months is nothing.

Surely you have priced it out. If you haven't, you should.

 

Same trim and everything? I see no reason to not trade up

 

Well let’s say 48 months (or whatever amt of time) are left on the loan at $50 more a month then new truck cost $2400 more out of your pocket.

If insurance stays the same and you’re okay with that extra ~$2400, Do it

 

Additional drivetrain warranty is worth something...

 

50 bucks a month for a drivetrain warranty you will probably not end up using. Unless you're broke and would have zero way to pay for something that may pop up I’d vote to keep yours. It’s the same truck.

 

I’m guessing the 18 has around 60,000 miles on it?

 

Sounds like it could be a good deal , address

 

67500

 

Too little info for anyone to give a qualified opinion.

It would be like me saying - need an opinion - someone wants to trade me a 2017 Chevy for my 2021 Tundra - Chevy is blue and really low miles - I like blue more - even trade.

We get payments are a wash - meaning it won’t cost you more…but equity is the key here - not payments. How much are you getting and what are you paying?

The fact you were upside down going into this one means nothing - your truck is worth what it’s worth - no less because you borrowed more than it was worth initially and no more because it’s “yours”.

Likewise the story your sharing on a 2021 bought by a rental company - never took possession and now sitting CPO doesn’t sound right. It’s entirely possible that a rental car company bought it in 2021 - never took possession - but why in the hell is it sitting at least 7 months later ?!? It’s not like dealers aren’t clamoring for trucks to sell - why is this otherwise new truck sitting without a buyer unless it’s SEVERELY overpriced.

So far I’ve pieced together you have a 2018 CM with 60 some thousand and are buying a 2021 CM

That means they are at least both SR5s.

What trim/options and 2 or 4wd and what’s the trade allowance and the selling price - only then can you get real advice.

As to value of a warranty - it’s worth what it cost - a 7/100k plan on a “used” 2021 would be about 2500 - possibly slightly less. So your getting a newer truck with a 2500 warranty - but if your paying 25k for privilege it’s probably a sucker deal.

 

If your current truck has been good so far, it's unlikely to have issues in the period any warranty would cover, while the new truck could (very low probability since it's Toyota) be a lemon. Research the bathtub curve of failure.

Also you'll be losing the auxiliary transmission cooler.

Hell, if you want to drive down here, I'll trade you for my truck if you help me swap the canopy over. I still have about 3 and a half years of warranty.

 

The dealer has about 15 of these trucks on their lot. All 4x4 SR5’s with off rod package and sr5 upgrade package. The rental company they “bought” them from is owned by the dealership headquarters. They have only been on their lot for two weeks. I’ve seen four or five get sold. Why people aren’t buying them over a new never entitled vehicle is beyond me unless they are really wanting limited or platinum packages. I hear what you are saying and agree with it. I don’t have an exact trade in value from the dealer, just a ballpark right now. I put this up on here to get some more view points to see if it is worth my time to go down there and seriously go through the process to get final numbers.

 

My guess....when you get down there, it's going to cost you $10-20k (+ taxes and interest if financing) to move into the newer vehicle.

No way you are going from an '18 with 60k miles on to a new '21 for an extra $2400. If you can, something fishy is going on with the seller or condition they say the vehicle is in.

It doesn't make any sense.

 

To quote the slimy salesman who tried to sell me a damaged truck as new, I bet someone "just tapped it with their tailgate" enough to require the whole right side to be replaced and every prospective buyer who finds out about that says no thanks.

 

Don't do it. Wait for 2022

 

Hell no on the 22. Thanks for the info from everyone. Most people spend money thanks to the forum, you guys are saving me money.

 

Third that…

 

First thing out of the box, they will charge you to clean and sterilize your trade in-$1200 is what I have been seeing just on that. Then condition depreciating, etc. You will get the shaft if you trade.