How much for my tundra, best option to sell?

Hello,

Looks like I might need to sell my tundra. It's a 2021, approximately 9k miles. Fox 2.5 reservoirs all the way around, total chaos UCA, method 18 with general 35x13.5MT, frame mounted rock sliders, full skid plates, front LCA skids, rear diff skid, westin steel rear bumper with hidden hitch, front ranch hand full steel bumper, rago dash plate, factory TRD LED headlight upgrade, voodoo bed rack mid height, turndown exhaust. Terrific offroader/camper. Has some texas pinstriping but nothing deep. Had 3 oil changes, all synthetic and with Toyota oil filters.

Thoughts? Should I try and sell privately, or trade negative into a 20k vehicle (probably xterra pro-4x) as I'm looking to cut my payments in half. Dealerships are offering around 40k, I know it doesn't mean much but I have $15,000 in top quality upgrades on the truck and would have to throw all that money away.

Thanks!

 

By book value, accessories actually decrease the value to include lifts. With mods on it, I would sell privately and not give the dealership the satisfaction of screwing you and then jacking up the price for resale.

 

You’d probably do better selling it privately if you have that much $$$ invested in upgrades. Or take whatever you can off and swap it as much to stock as you can if you decide to trade it in

 

Why are you selling? Is it only to reduce your payments? If that is the case, you could see about refinancing the balance to a longer term and keep the truck. Not ideal, but if you are only doing it to drop the monthly amount owed it is an option.

If that's not palatable, then your best bet for any kind of return on investment for mods is to take them off and sell them separately. Your truck's value is not increased by your mods. Sucks, but that's the truth of it.

 

Stand by lol

 

$40k for your truck to a dealership right now would be a gift to them on a silver platter. They’d love all your mods for free.

I know the market has cooled a bit, but $40k for your ‘21 seems low anyway.

 

That's a lot of money to throw into a bank owned vehicle...

 

Aw! Look at the pooch's underbite!



So, what's the motivation to sell?

 

Reduction in income, so working on my DTI for an upcoming house purchase. In the middle of a housing crisis. Not selling yet, just feeling it out in case I need to in a couple months.

 

Ah, so a refi to get smaller payments might not fit the bill. It looks like you built it out with a purpose, and I would personally try to hold onto it. I also understand that sometimes we can't get what we want, and have to make do.

 

Anyway around it - your gonna lose money likely - it’s just how much.

If you have time - list today! Offer as a package and start at say 48-52k range. 15k in mods probably bring 5-6k off the truck and you have time and effort removing them and selling them piece by piece. So someone who takes truck at 45 and mods at 6 installed is getting a deal. Of course that person also has to have good credit and an appetite to take on a 2.5 with the 3.0 just hitting the market.

Worst case - you get some leads who might buy at 45k without the mods.

Trading down is a dealers delight - a double scoop of profit from a single sucker - they sell you a marked up 20k vehicle they paid 12k for and get your 40k truck they will offer at 55k. Gas prices being what they were - dealers are hesitant to take on lower mpg vehicles still - inventory is building up fast and no one wants to be caught with a car threat they have to run back through the auction just to recoup acquisition cost (they lose - even if breaking even - there’s a cost of auction, cost getting it there and a carrying charge having a truck sit on the lot 6 weeks).

It’s tricky - but can be done. Honestly - you might be better long term looking at finding a way to get the longest term possible and getting the truck out of your name and into someone else’s to completely get rid of the payment from your name/DTI. 20k over 72 months is what $275 ? So moving to a 20k car selling this for 40k assuming you have little equity at this point might free up 25-40k more on a mortgage.

 

This sounds WILDLY exaggerated. Margins on vehicles are not that high.

 

You clearly have never worked used cars before then.

Margins on NEW are slimmer - 7-10 year old used with 100k miles - a dealer would be out of business without this kind of margin.

Let’s say they pay 12k for that 20k list car

There’s - 500 commission to salesperson when it sells

A grand in reconditioning typically

At least a grand in overhead

So they are actually in that car 14,500 minimum. Of course buyers want to haggle and try to get you to 17 - realistically your gonna take 18.8

What happens when something breaks while it sets on the lot ? Your fixing it - that’s what and parts aren’t free.

What if it just won’t sell - it’s auction bound and that cuts profits dramatically- you might see 14 there - auction fee is about what your salesman makes - so you break even. Breaking even isn’t how you stay in business - it just gives you a chance to sell the next one tomorrow.

Check auction prices sometime - see what they pay and what they sell at. 35-40% is a typical margin. Small town single man operations can get by selling for a grand over cost - but they have minimal overhead and no sales team to pay. A full service new/used dealer has to make these margins on used or they go broke. You think those TV commercials and splashy websites come free ? I know dealers who pay $40-80 a generated lead. And that’s just for getting a prospect in the door - no guarantee they buy anything. Assuming your closing in the high teens - that’s roughly $500 per customer sale on average.

 

When you said used I had to go back and reread the OP's post. My mistake, and I apologize, as I misunderstood your post. I thought you were saying that kind of margin on a $20K new vehicle.

Thank you for explaining that and giving me the opportunity to go back and check myself.

 

Why not put it on the market now while you're not pressed to sell. This gives you the upper hand. The 3.0s are out but you still have a desirable 5.7. I'd start at $52 considering all the mods and then be patient. Just me.

 

Kills me to hear this. It's such a fucked up mess right now. Certainly a hard time to buy a home with any level of comfort... at the very least, less desirable.

 

Yeah, housing market is a mess at the moment. Really tough time to buy in. If you gotta sell, then I agree, post it on the higher side of what it's private party value + 50% the investment in parts, and hope you find a buyer that gets close.

I always felt anything aftermarket was a loss/freebie in a sale unless the buyer REALLY wanted the mods.

Whatever you do....best of luck. Hope it works out.

 

Where are you located? I would list in a rich area as is privately and wait for a young dude with money to burn who appreciates mods. Or calculate how much you can sell each mod starting from straight take off stuff like sliders where they don't need a stock replacement, to things you can sell and get a stock equivalent to replace with.

Hell you can put old stock shocks on it for almost free and the dealership wouldn't think to check as long as it looks stock.

 

^this

Its pretty easy to figure out your value for a BONE STOCK vehicle. Carmax/carvana/vroom.
Just gotta get it back to stock.

 

Thanks for the advice everyone.

 

Well I have a couple thousand in wheels/tires, I could find takeoffs for maybe 500 and sell those separately.

Don't know that I have factory suspension anymore unfortunately.

 

Factory take offs aren't super expensive for those either. All depends on if the work is worth it for you.

 

Just so happens I have a full sr5 suspension set with 15k miles on it if you decide to do the swap

 

I saved just under $8K flying to Iowa and driving the new 4Runner back to Arizona. The dealerships in AZ was smoking a lot I guess since we are legal now

 

Like has been previously suggested, return to stock, sell the upgrades individually - will yield you your best ROI. If you don't have original factory take-offs, dealer/buyer may chirp a little if you don't possess the title either yet (not sure how texas works) as you'd essentially still be "modding" the truck" but with inferior Junk Yard-esque parts and not the $15k of kit you've currently got on there. Again, unsure of the laws there, but be careful with that too.