Work vehicle dilemma

A while back our ceo decided to phase out the company fleet and go to a vehicle allowance as our current vehicles need replacing.
My company ride is a Ram with 170k on it so as you might figure mine is going first.

My truck is a 16 crexmax with 75k on it. In the normal world I'd use it for a few years, pocket the allowance and then upgrade to a 3rd gen.
But with the still rediculous trade in values that will soon tank, and interest rates getting ready to go who knows how high, for who knows how long, I'm debating trying to get in a 3rd gen now.
With current trade value I'll essentially be able to get in a 3rd gen for "free" as payment and insurance cost would be covered fully by the allowance.

On the flip side I could throw a bed cover on my truck, add the allowance on top of my payment and have it paid off by February, then save the allowance waiting for rates to come down.
I know #2 is usually the best option. But between work and personal mileage I'll be pushing 25-30k miles a year. I'm afraid the value of my tundra will absolutely tank between mileage and market with the push to ev's and high fuel prices.

So what say you? Which would be the better move? Also keep in mind it's not a if I'll move to a 3rd gen, it's a when because I really like the 22's.

 

The money you'll save by keeping your current truck, paying it off, and pocketing the allowance after payoff should exceed the drop in value of the current truck assuming nothing bad happens (like a crash etc).
Just my opinion and that is worth exactly as much as you have paid me for it.

 

Stick with option #2 for as long as u can, let the 3rd gen 1st year kinks get worked out

 

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Pay off your truck and keep pocketing that payment and insurance stipend as long as you can. That is money in your pocket and you can sell yours when it is time. That will give Toyota time as well to work out some of the kinks in the new model. Even if you did that for a year, year and half, so were ready to buy a 2023 or 2024 new, your truck would have around 100/120k miles and there is no real issue selling a toyota at 100k mark. Will you get less $ at sale, maybe....but you also need to count all the monthly payments to you from your company during that time. Do the math, bet you come out better keeping yours for now.

 

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