Should I sell the one that I love

I lucked out and found a 2021 crewmax 4x4 in October of last year, I ended up getting the truck for $40k, out the door. I only drive about a mile and a half to work, so I have about 4,000 mi on the truck. Toyota is offering me $54,500 for it. I love the truck, but I love money too. I could drive a beater with no issues.... What are your guys thoughts?

I also have a 2001 f250 that is tore to pieces on the farm I could drive until the craziness ends, if need be.

 

hmm, lets see, they'd essentially be paying you $14,500 to drive a Ford for awhile... that's a tough call, what if the market never returns to what we considered to be normal? Then you lose the equity, and might just end up being upside down on the next one anyway. Decisions, decisions.

 

Sounds like a good position to be in. Having said that, I doubt anyone on this forum knows your personal financial situation well enough to give an informed opinion.

 

They will pay you $14.5k to drive a truck for 7 months minus the payments you have made? No brainer.

 

I know! I lucked out on the deal when I bought the truck. I sold my 2016 to them. Toyota gave me $36k for it when I bought the 2021. I only paid $33,000 for the 2016 new and put 60k miles on it.

 

For 14k profit I'd sell and see what the 22 looks like. There will be plenty of traded in 2021s for the new 22 model. if you didn't like the new model yourself, pick up another 2021.

Prices will come down. These trucks and colors aren't rare. Regardless of what the lunar rock community says

 

I'd sell it and get a bicycle or scooter to commute the 1.5 miles.

 

True! I was kinda thinking about the whole shortage, 4th gen, demand for 3rd gens in a year, etc more so that the money. Hell 15k is a lot of money for rich and poor a like (I'm the latter), but not if I sell and the 4th gen flops and everyone wants the 3rd gen and I can't buy one back.

 

Not gonna happen. These trucks will be turned in just like every other model of car when the new ones come out.

 

Sounds like a good dilemma, if there is such a thing? Anyhow, you got a super good deal on your truck back in October last year. If you're planning on getting another Tundra after the market craziness dies down, I'm not sure you could depend on getting the same great deal the next time so maybe that needs to be factored into the decision. Moreover, who's to say that you'll find anything in the future that satisfies you more than what you already have? Sometimes it's hard to put a price on happiness!

Best of luck regardless.

 

Thank you!

 

One thing to consider— You don’t have to rush to make the decision, the shortage isn’t going to turnaround anytime soon. They may be willing to pay you more next month and the moth after etc…

the value of my trade in went up 2k over 30 days

 

I briefly looked into what I could get for my truck. I could pretty much get what I paid for with only 36K on the clock and a six-year-old truck. But I’ve got a lot of time into making it the way I like and would have two find some thing I would be happy to drive around and take on trips. I could get a beater and sink a bunch of money into it to make it bad ass, but I don’t know if I’m ready for that project.
This is the first brand new vehicle I’ve ever had so it’s become kind of sentimental. I’ve always bought slightly used vehicles, basically letting someone else take the hit on the initial depreciation. Toyotas seem to be on a different level in that area, at the time it was only another $7000 for me to buy brand new as opposed to a five-year-old truck with 90,000 miles.

If time and effort weren’t such a factor for me, I would get a first generation tundra and deck it the F out! Go through it from front to back building the suspension, making it basically a new truck with the kind of money you could get out of yours.

 

Dang. I just hate to be that guy, but my wife says "put it on Facebook for $57 and see what happens. #iknowwhatigot #notirekickers
#igotsomethinghere not gonna give it away"

She's funny, but that maybe the way the let fate decide.

 

Your personal finances aside, there are many variables right now in the auto industry. Who knows how long the chip shortage is going to last?

Will supply remain low for an extended period? Will used Tundras continue to command a premium price?

I think the new turbo model is going to be pretty sweet, but I can still see significant interest in the tried and true, old school V-8 engine. With that in mind the current model should hold up well resale wise.

On a personal note, I am leasing my Tundra. The lease is up this month and I am buying it. The buyout is 7-8k less than what Vroom and Carvana have offered me for it. I plan on keeping it for now as I love the truck. Best of luck!

 

$54k?! Dayum! Almost a shame to say no to that...

 

I am guessing the 2016 was probably paid for. So you got a 2021 with 4000 extra dollars, prob paid that by now too.
So I am guessing you have a fully paid for 2021 with 4000 miles.

 

It will be a test to see who the diehard "gotta have my 5.7" fans are.

 

Sometimes it is best to be thankful for what you have. I could also sell the truck I bought at a substantial discount in December and take a few grand in proceeds. Reason I don't, greed don't bring me happiness. Knowing I have a capable truck on the driveway to go anywhere at anytime is enough reason to pass on a few grand. That being said, everyone has their own circumstances to consider, and either way you will still figure out how to live on.

 

That is correct. Freeeee and clear.

 

No payment on a truck you love... why sell it unless there is specific need for the money?

 

I’d sell it and buy the best vehicle you can for the profit. Maybe an older Tacoma, Tundra, 4Runner or GX470. Take advantage of the stupid market. This won’t last forever.

 

+10. Starting and driving a car 1.5 miles and then shutting it off day in and day out is not great for it.

 

You could also monitor it about every six weeks and try to play it for every penny you can get.

 

Was the $40k actually $40k as in $40,000.00 total and did that include TTL and all fees?

But either way...even if you paid closer to $43k with taxes and all that..hard decision. So let's say you profit $11,500 or even $14,500. Now you are going to buy another vehicle..yes? But if no, then why the Tundra in the first place? So if you are buying another vehicle...how much would you be spending today to get a vehicle you would be happy with...not just one you "need", because frankly you could probably bike to work or take Uber everyday and be money ahead. So roll that profit into a beater and watch it just depreciate away while you drive a vehicle that you hate while lusting for another Tundra...or pony up in todays market for a car you like and overpay...there goes your profit. Just a bunch of rambling on from me....0.02 and all that.

 

OP said $40k out the door which generally means taxes and fees.

 

Missed that part. He also said he sold them another Tundra. But even at $14.5 profit, my ramblings still stand! Use that profit to buy a depreciating beater or a car you don't like (assume the Tundra was his first choice)...or buy a scooter or pay for uber? One way or the other he has to get to work!

 

Like most here, at that price I'd have already sold it as soon as I heard the number. I could sell mine after 5 months for almost 4k profit but it's not enough to make me drive my old Honda Accord until the 2022 shows up. But 6-8-10-14k LOL it would be gone in a heart beat. I wouldn't mess with private party either, for 1-2k I wouldn't mess around and just get my quick cash from the dealer IMO.