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Am I Crazy? Sell my 2020 for a 2006 1st Gen?

Discussion in '2.5 Gen Tundras (2014-2021)' started by AlaskanAssassin, May 25, 2021.

  1. May 26, 2021 at 9:41 AM
    #61
    2mchfun

    2mchfun Yeah it'll pull it, just don't expect to stop!

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    Or don't and hang out where the "coolest" roam.
     
  2. May 26, 2021 at 9:47 AM
    #62
    Terndrerrr

    Terndrerrr guzzling dealer repellent

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    Is that $4-5k based on your OTD price after taxes and all that? Does it factor in the interest you've already paid on your truck payments? I get the appeal–you're not likely to have a chance to sell it for more money than you can right now. And if you want to be debt-free, it's hard to argue with that. But that 1st gen's life is far more behind it than in front of it like your 2020...

    After tax out the door and money lost to interest on payments already made, my guess is that it looks like much less of a good deal. Just for grins, I put all my data in to Carvana on my '21. They were willing to offer more for my truck than I paid OTD, but not that much more. I bought in September 2020 when Toyota was still offering incentives. Notable differences between my truck and the OP's: mine is a crewmax in army green with 8.5k miles. Otherwise, they're both TRD Off Roads.

    When one factors in purchase price tax and the interest already paid on payments made, "buying low and selling high" seems to be overstating it a bit.

    The downside is that a 1st Gen Tundra's reliable lifespan is mostly behind it, whereas a 2020 Tundra's is mostly in front of it.

    At least tell us how much you would make over your out-the-door (after taxes, title, license plate, etc) price when you bought the truck? And how many payments have you made? How much of each payment went to interest? Those added to your OTD price would give a better picture of your true cost for the truck so far.
     
    Luckydog, Oey12 and 2mchfun like this.
  3. May 26, 2021 at 9:50 AM
    #63
    des2mtn

    des2mtn Third Member

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    Where my wheels stop rolling
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    No you're not crazy. Do it.
     
    AlaskanAssassin[OP] and bmf4069 like this.
  4. May 26, 2021 at 10:29 AM
    #64
    Sirfive

    Sirfive Master Procrastinator

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    I renig my comment. Keep the ‘20, but get something cool to put that drivetrain in.
     
    Luckydog and AlaskanAssassin[OP] like this.
  5. May 26, 2021 at 10:47 AM
    #65
    helloo

    helloo New Member

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    I sold my Audi A7 to Carvana last week. I had about the same offer from Vroom ($100 less), but Carvana was able to complete the purchase quicker. Someone came out, took some photos of the car, and their truck came and picked up the car later that night. Next day had the direct deposit in my account and netted $4k more than I bought it for.
     
  6. May 26, 2021 at 12:27 PM
    #66
    ezdog

    ezdog New Member

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    Vewy Intewesting,thanks for the reply to that!

    I think Vroom picks up the car and then sends you a check a few days later which if true gives them an opportunity to lowball the total after they already have the car which seems fishy to me for sure?
    On the other hand I would think they need to see it in some non virtual way before giving you money too and what you say about Carvana makes some better sense to me I think.
     
  7. May 26, 2021 at 12:32 PM
    #67
    ezdog

    ezdog New Member

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    I only pay cash for them and here we can apply the tax value of a trade in against a new car if there is a trade in and there was.
    We can even apply this in private party sale but I did do this one at a Toyota Factory Store too.

    All I will say is Trust me it is a Crazy amount of profit on my initial outlay.

    On the other hand,since Yesterday I have gotten 3 calls from Clients that want me to drive 2 days each to 3 different properties for work in the next Month,and how else could it possibly work too??
    This is the main reason I have the truck and why I upgraded to it though I didn't really need to at the time but I do prefer the cross country drives in the new truck too.

    So now I need to rethink the whole thing and decide if someone somewhere might be sending me a message about all of this,just strange.
     
  8. May 26, 2021 at 12:39 PM
    #68
    21TSS

    21TSS New Member

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    Some like...stuff and things.
    I say go for it. I've listed my 21 locally and if it sells I'll be picking up a 14-16 SRT Jeep. Like you, I really don't need this nice of a truck, and freeing up some capital would be nice.

    However, I also bought my 21 in October of 2020. 7 months of ownership and I just rolled over 2750 miles; 396 miles per month...
     
    Last edited: May 26, 2021
    AlaskanAssassin[OP] likes this.
  9. May 26, 2021 at 12:40 PM
    #69
    Shamrock92

    Shamrock92 New Member

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    So many variables - bottom line is what makes YOU happiest ?

    I personally would go with a paid off vehicle over a financed vehicle if I otherwise should be saving more.

    Owning 2 vehicles over 1 more modern vehicle - it’s a mixed bag. Yes, it’s nice having a reliable daily driver and a project/for fun-recreation vehicle. It is also 2x the maintenance and upkeep, plates, insurance and mods.

    The nice thing about a 2020 is it’s going to be fairly straightforward cost wise on maintenance. A 1st gen might not be any worse - but it might also get costly fast. Miles aren’t the issue here - it’s age. Mechanical things break down due to age as well as use (or lack thereof) - then when you start getting into really old vehicles it can get super costly very quickly.

    Again - do what makes you happiest. Know that if you make a mistake and hate the move down - it’s not as if there are not other 2020 (or 2021s or 2019s) that will be available at or near the same price as you sell for today in all likelihood.
     
    AlaskanAssassin[OP] and ezdog like this.
  10. May 26, 2021 at 12:55 PM
    #70
    ezdog

    ezdog New Member

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    Happy is Good.
     
    AlaskanAssassin[OP] likes this.
  11. May 26, 2021 at 2:13 PM
    #71
    AlaskanAssassin

    AlaskanAssassin [OP] I now walk into the wild

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    All good thoughts/questions. Some more info…The $4-5k is essentially OTD. Thankfully Alaska doesn’t have sales tax so that saves a good chunk of change…granted car prices are much higher here.

    This doesn’t include interest paid though. Haven’t done the exact number yet but I don’t think it’s that much. I have a very low ~3% rate at my credit union, I put about 1/2 down when I purchased it AND I’ve been making double payments to pay the 60-month loan off in 2 years (regular payments + principal only additional payments).

    Title, tags and registration isn’t very high here in Alaska by comparison ($199).

    One “advantage” that I don’t have like many lower 48’ers is Carvana/Vroom/etc. because they don’t usually do business in Alaska or Hawaii. In other words, I can’t take advantage of those options like many have recently.
     
  12. May 30, 2021 at 8:43 PM
    #72
    LJOHNS

    LJOHNS New Member

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    I had a first gen. It was a great truck but it does not compare to my 3rd gen. 2018. No way I would go back.
     
    AlaskanAssassin[OP] and akmerle like this.

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