To Upgrade or Not To Upgrade?

Came across a 2021 Wind Chill Pearl Platinum with sub 3k miles, dual TRD exhaust, running boards, tonneau cover, and a bed liner (not spray in) for 59k, is that high or where the market is today?

I have a 2019 Highlander XLE with 8800 miles on it that I would like to trade towards this but buyout is sitting at a little over 34k and not sure I would get any more than that.

Should I hold off or pull the trigger on the Tundra?

 

You know your finances better than us. That being said, you only live once and If the Tundra is what you want get it. Personally I would would check Costco, USAA , etc car purchasing options first to see if you can get a better price first.

 

The market is hot right now so everything Tundra is high. Location makes a difference. Where are you located?

 

59k is not “high” in my opinion - but it is a starting point in negotiation…I think sub 57 is a good landing spot on negotiations.

As to the Highlander - I’m not an expert, but I suspect you should have positive equity in that thing. 40 would be my educated guess on value - possible a tad more. Check Carmax/Vroom/Carvana and aim for 5-10% more if trading in.

Should you upgrade - that’s entirely personal. I mean what you have now will last many more years - but it is also a very different ride - with both positive and negatives vs a loaded out Tundra.

Are you prepared to suffer a 5k setback if you don’t like the Tundra ? That’s about what you’d lose trading for it and then trying to trade back in 6 months potentially. Could be a little less - that’s worst case.

I honestly am not a fan of trading in when you are break even or negative equity - not until you can lose equity in the new vehicle and be “ok” is it a good idea. Too many people think “I’ll catch up in a year or 2” and then get a car totaled while parked - and have to scramble to come up with a solution- or have a financial setback that puts them in a bad spot. But if you can afford it - like it and the numbers work - go for it.

 

Prices are ridiculous now. I don't understand how people purchase $60k vehicles, much less two for a household. At this point there are very few vehicles worth having for less than 40-50k, new or used.

I got my 2016 Tundra in Jan of 20 with 32k miles for $31k. I could trade it in now and get about $8-10k more than I paid for it, but then would be overpaying for whatever I purchased to replace it.

Personally I would wait, because all these crazy prices and such will come down. I would not be surprised if we are in a recession in the next 8 months. Everyone has been buying like crazy at high prices for autos, RVs, homes, etc. Prices for everything are so high, but $ will normalize in time. May not go down to pre Covid pricing, but anyone purchasing any large items now is paying TOP dollar.

 

The color is unique on a Gen 3 so if you really want it go for it.

I think it is a little too high even for this limited supply market. I would personally wait until Toyota makes their full 2022 announcement. It is hard to say what will happen but its possible the new specs "crashes"/depresses the used Tundra market. It could go the other way too.

 

Get the Tundra

 

Get the tundra if you can get a good deal for it

 

I'd hold off until the new one comes out for the interior upgrade. Whereas the platinum seats are super awesome, I believe the 2019 highlander interior is newer/modern. It's a lot of cash to drop now when the newer/ redesigned/ improved one is coming out in less than 6 months (especially with your budget).

 

Thanks for all the input everyone, I’m going to hold off and see what the 22’s have to offer and go from there. Maybe once those are out there, the 20’s/21’s will have a price drop.

I can’t wait to get one, that’s for sure, this is the best community out there and looking forward to being an owner

Thanks all!