Should I sell the one that I love

I'd get rid of it. Sold my Tundra and Audi A7 recently. Now driving a rebuilt 2018 Honda Civic lol that I got from the salvage auction. I'm cheap and will be ready when all this turns around down the road.

 

Yep. Wrote it up for $42,xxx, they gave me $36k for the trade, which knocked like 2.5k off the taxes.

 

We keep saying "when it's over...", yet we have no idea when that is. We also thought the ammo shortage was going to end, still tough to get certain types of ammo, and if you do find it you are either limited to a couple boxes or the price is too high (in Md where I live, as well as Va.). I've been offered $6k more for my tundra than I paid for it and it's paid for, not quite $14K, but I still wouldn't get rid of it for $14K over. Remember the price of lumber is outrageous right now, if we see it come down it won't be to where it was last year, that could be the same with certain vehicles like the Tundra. OP, if you don't drive it too far and don't think you need it, sell it, you can get a nice used car for $15k profit. But, you still have a new Tundra, and 3-4 years from now it will be low low mileage Tundra, probably last you 25 years without any major issues. Tough call though, good luck.

 

OTOH.... if they are willing to buy your truck for $54.5k, what will a replacement 2022 cost? I'm not paranoid, but I do worry about the delays/shortages across the automotive industry. This may take a while to stabilize. In the short term, I expect prices to remain exorbitantly high. I hate to pee on anybody's parade, but I wouldn't be surprised to see long waiting lists to buy a base model '22 Tundra for $60k and dealer mark ups initially for those willing to pay to play. Imagine 10 year financing plans!

Thank you very much, but I'll be keeping my old school Tundra.

 

And without even knowing the features, very few would want the base model. There will be something to get buyer to pay up for the next trim level or upgrade packages. Nothing new about that.

 

Agreed, 14k in pocket may not mean 14 in a year. House are getting 25% above appraisal. This means weak dollar because of inflation. So one has 50 something in pocket and a new one cost 60 IF you can find one. At some point this could get to a point that possessions are the thing to have.
And we all may be protecting them to a higher level.

 

Keep the truck.

Walk to work.

 

Driving a Ford "until things get normal" will cost you more than $14,500

 

I’ve enjoyed reading all the suggestions so far and switched my mind a few times.

Really, I think it boils down to having your dream truck or $54.5k sitting in the bank. Which sounds better?

The money is tempting, but the next Tundra isn’t going to be cheaper than today. Given market conditions, there is a reasonable chance the next gen truck could be delayed. Then factor in low inventory and pent up demand. Oh, and are you the kind of person that doesn’t want to buy the first year of a new model?

Given all the factors and unknowns it could be 2-3 years before you can get a good deal on a new Tundra. I think I’d hold on to the truck and see how it goes

 

I would keep your Tundra, I drive a company truck during the week and only drive my Tundra on the weekends. Probably only put 4,000 miles on it a year if that. I will be able to use my Tundra as a coffin.

 

Agreed. I’m weird, but cash has less value to me than a vehicle I love and have put my heart into. I love my trucks and it makes me happy to see my family benefit from them. Money is just a tool. Obviously nice to have, but doesn’t affect my happiness at all.

 

He doesn’t have to sit on that cash. You can invest it, do some house work you’ve been wanting to do, save some for the repairs on the Ford. $54k is a lot of money and if you don't need two cars, then you can use that money to fix the Ford whenever it breaks down. Knock on wood, if there was an accident and totaled the car, you’ll still be out of a car and have cash from the insurance payout.

 

This is what I'm worried about. How long until we're burning cash for heat and buying things with gold and Bitcoin.

 

Sell it all... Truck, house, wife/kids and give it all to the poor.

Go Full Monk and be Blessed.

 

This.

Not sure how old the OP is or what his finances are.

I’m 55 and for me, it was the perfect time to purchase a new, last year V8, dependable, Tundra.

When I retire in my mid 60’s I want to be paying insurance on a low mileage, 10 year old, dependable Toyota truck that will outlast my driving days, vs. a new expensive, possibly less reliable truck purchased upon retirement.

 

10 sell, 8 keep, 2..I’m not sure. I think I’ll give it a month. If they’d finish the dang tune for the supercharger I’d just do that, then ( less the manual trans) I’d have my dream ride.

 

I am in pretty much the same boat as you are albeit with a little older truck but one that I searched the country to find for a year probably.

They want to give me stupid money just to sell it outright and most people that I know think I am crazy to not jump on that too.
I even have many other cars and could live without the truck like I did before getting it but my reasoning was that I travel the country for work driving and this was going to take my comfort up a few notches as well as reliability and towing capacity,all features that I feel I need to upgrade.

One of my friends runs a Toyota Store and I was in there Thursday while I was in his town and they have literally maybe 20 cars on the lot at all!

They had 1 Tundra and 2 Siennas and they keep getting cars from other dealers in the area that are not selling through inventory like hos store is and it was really just bizarre to see the lots empty at the store,it actually looked like they were out of business.

So if I sell the truck exactly what do I do while trying to replace it? I have jobs coming up for the rest of the Summer where I need the truck and I could take my other Tundra that I never ended up selling but it is just a lot less comfortable all the way around and not as sure a bet reliability wise either though I imagine it would be fine too.

So there is really no simple answer or way to reason this out. In plain sight the numbers seem incredible if I cash out but the longer view is that the cash will not replace the truck at the same time and who knows if I can ever find one like I have now at all?

So I cant believe no one has said this yet but maybe you should just

"Love the One your With"! as the song goes.

 

Funny....I've got a Tundra and an A7 also!! Debated selling them both, but with low mileage and no car note on either, decided to keep them both.
07 Tundra w/ 94k and 12 A7 w/65k. Use the wife's Elantra to get to and from work, so the Tundra's for play and the Audi's mainly for road trips and nights out.

To the OP: If your intent is to have another comparable truck, my personal opinion is to keep what you've got considering it's paid off and you got such a good deal on it.

Prices tend to be a lot slower coming down once retailers have realized how much more they can get for things. The days of getting a good deal on a great truck may be further away than you'd care to wait for a replacement.

On the other hand, gas prices are rising, so you could see a lot of these new truck buyers unloading very soon. It can hurt a little to fill up a Tundra, and people aren't going to like their fill-up costs if gas gets any where near where it's been in the past again.

 

I think trying to get 14k or more is a great Idea.(I would have sold to the dealership immediately for 14k profit) also agree with some of the other posters that said having a good vehicle is important right now with the Dollar getting weak. But I think with a little bit of looking around you could find something similar to your truck in a short time. I see GMC is already starting to make trucks without the start stop feature so that they can continue production. I personally believe the “top” of the tundra market is almost in.

 

Are you happy with your truck? Do you love driving it? Do you smile a little when your walking to it? Is it reliable? Sometimes being happy and content are worth more than things or money.

 

Bingo, I've read a lot of articles (as if it wasn't obvious) saying that dealers and manufacturers are realizing they don't have to pump out so much inventory and discount as heavily thanks to the current market. They can sell less and charge more to both save money on costs and make more on sales. A lot of people agree that our current situation has forever changed the market. Not that things won't normalize but that the days of 14k - 30% vehicle discounts are over. I tend to agree with this. I also see TONS of articles now everywhere I look regarding going green, pollution, EV's, climate change etc. You can bet that every penny spent by big oil to comply will be passed down to the consumer making older gas hungry trucks less desirable, bad for resell good for buyers.

 

If the prices were for sure coming back down to "normal" then I would say go for it, make that money! Unfortunately I don't think that is going to be the case, at least not anytime soon. But who knows what's going to happen when the '22's roll out. What are the news ones going to be priced at? What will the used Tundra market be like? A lot of unknows for sure. If I was in your shoes and really needed the money then by all means trade it in. But just keep in mind that if you want to eventually get back into a Tundra you might pay dearly for it. And if you like the '21 better than the new models it'll be tough to get one with the low miles yours have.

That all being said, I'm so glad I got my '21 earlier this year before the shit hit the fan. I have the exact same truck as you and couldn't be happier. But nobodies offered me $54.5k for mine yet either.

 

But would not having less vehicles on the road also result in less revenue down the road...service, parts, connected services?

 

My feeling is that, once we come out of this pretty solidly, which I expect to be late this year, the economy will boom. People gotta remember, all these closed businesses and restaurants will be ripe for the picking. Opportunists will find ways to replace and innovate. New ways to do business simply, efficiently, and without contact (think...cold and flu season) will abound. Jobs will be created. I bought a house late last year and never laid eyes on the lender until the moment of closing. The world will change drastically and we'll not only remember these years because of covid, but also the economic revolution that followed.

I do believe vehicles and goods will be stable next year. I don't believe we'll see 2019 prices again on most anything, but I do think truck prices will be reasonable again--not that they haven't been absurd for at least 10 years, but...you know what I mean.

I say...if you have a backup plan and are willing to wait a year or so...go for it. Mine is trading 7-8k over what I paid new. I love it, but that gives me something like 25-30k equity right now. That's insane. If I had a backup plan I would probably go for it.

 

Ditto on grabbing my 16 in Jan ... no way I'm selling !

 

I guess the same can be said about EV's growing in popularity. Very very little maintenance and way less to break if it's fully electric. Shoot Honda's Hybrids don't even have transmissions anymore.

Edit: Wouldn't necessarily be less vehicles on the road, just less selection.