Should I trade in for a used Tundra or keep my paid off Silverado?

Hello all,

I’ve been lurking here since 2022 but never posted or created a username.

My 2018 Silverado has 15k miles on it and is paid off. I have had a transmission shudder that has been resolved by changing the fluid to synthetic and installing a bypass for the thermostat. Other than that, no problems. Toyota dealer is offering 43,500.

I am looking at a 2021 tundra limited nightshade that they have for 50k, 18k miles. CPO

My question is, if you were me would you keep the paid off Silverado and just finance whatever breaks? Or would you take on payments to get into a tundra?

Any input is welcomed, thank you.

 

Welcome. Tundra all day.

 

Thank you for the input, is 50k a reasonable price for the tundra do you think?

 

Not sure where you're located as geographic markets vary in price some, but I'd say that's probably a reasonable price.

Just about one year ago I bought a '19 4X4 SR5 w/TRD Pkg. CPO with 20,000 miles for $45K, so higher trim package, 2 years newer with less miles for $50K is about right.

 

If you're someone who swaps trucks out every couple of years, keep what you've got until it's time to swap.

If you're looking to get some serious longevity out of the truck, Tundra w/o question

My '08 SR5 is approaching 275k. Two years ago I purchased a new '21 Pro based on the reliability and overall value I received from my '08. My intention is to run both until they don't. I'm confident the Gen 2 and Gen 2.5 Tundras are the most reliable and best overall value on the market, excluding MPG; but if I stay out of it and drive conservatively I can pull 14.5 out of my '08 and 16-17 out of my '21...

Regarding price, your location will play a bit as already stated, but $50k (given the current market conditions) is not unfair; hopefully you can negotiate the difference a little more in your favor. The fact you're trading them your truck should give you some more leverage. Before you absolutely commit, see if CarMax is still doing the online quotes; they were the highest about 12-18 months ago in the 'cash for your car game' and see what they'll give you just so you have knowledge going into the deal.

Lastly, the '21 Nightshade Limited came either 2WD or 4WD. The difference in value between the two is a bit over $3k. So, if it's 4WD for $50k definitely a better value; if it's 2WD (still not a bad price), but I'd work harder on bringing them down.

Good luck w/your decision!!!

 

Welcome from LA (Lower Alabama)! The wise financial move is to hold on to your Silverado as long as it is running fine, paying yourself the truck notes by saving them in a separate savings account. Then, when the Silverado either starts having problems, or when you start to lose faith in it, find a Tundra, sell your Silverado (private party) and buy the Tundra. Obviously this is not purely the wisest financial move - it takes into account your faith in the Chevy - but it is smarter than just trading now and ending up with a truck note where you're paying interest on top of the balance for the truck. loan.

 

I vote Tundra. If you are getting a good amount for the Silverado, that's one hell of a down payment on the Tundra.

 

Thanks, yeah it’s 4WD no sunroof (not familiar with the packages on this model). On the on hand I know my truck that I have will only go down in value from now but in the other hand it’s nice not having a car payment.

I would like Toyota’s reliability but I am trying to make the best financial decision and it isn’t easy. That’s why I appreciate all of your feedback. I considered looking for 3rd gen model tundras but since their reliability isn’t proven yet I thought the 2.5 would be the smartest for reliability long term. Again these are just my thoughts and I enjoy discussion.

 

Tundra, my mama had a '18 silverado with the 6.2 and GM replaced the motor twice and declared it a lemon when the third engine broke down on her.

 

Your truck is past powertrain warranty i take it?

 

Yeah power train warranty expired in April.

 

My thoughts on the Chevy....you may have a period of good luck without problems, but they are offering a good price for it now. Even without payments I doubt you could out-save the depreciation that will happen on the Silverado going forward.

 

Bummer. My neighbor has a same year tahoe, valve body took a dump

 

Given the trade-in they're offering for it now, I'd trade it in with no hesitation, personally.

 

Your thoughts regarding the Gen 3 Tundra are definitely valid; plus if you're talking used I'd stay away from a used Gen 3 mainly because w/it being a new engine my guess is anyone test driving and even owners of that truck probably smashed the shit out of that gas pedal before proper break-in procedures were done to see what the new platform would do... that in and of itself would make me nervous. Also, they haven't been around long enough to know if that platform will see 150k, 200k, 250k without major repairs.

That price point is definitely on the reasonable side of the equation, especially w/it being 4WD.

You wouldn't even consider trading your current truck if you were happy w/it and trusted it, so I think you've answered your own question...

 

With all that been said above and your own statement about current offering for 44.5K for the Chevy, I would say try and see if they would offer $45K trade-in and you are left with $5K loan, which isn't too bad if you look at it that way.
Not getting a 3rd gen at this point is *possibly* a wise move since there are more issues than I can keep track of, and 2.5G has been proven to be more stable than not, in the long term ownership cost, Tundra would come out ahead.
Of course, all the used car buying check boxes must be met, 3rd party inspection if possible, and depending on your location, frame/body rust check must be noted.

Otherwise, I would say take the Tundra and enjoy the hell out of it.

EDIT: Sorry, mis-read the price, $43.5K, if they can meet you are $45K trade-in you have a great deal on hand, not saying $43.5K isn't.

 

If I am reading this right, you only have to come up with $6,500 to make the deal. Personally, I think it is a great deal and would recommend taking them up on it.

I have a 2018 I bought new in 2018 (paid off) and nobody on earth could pry this away Tundra from my cold dead hands...

Dan

 

I am biased to tundra, I'd look at it this way, that addtional price difference is a known factor to cost of ownership, however, if you keep the silverado and it breaks (i am biased to tundra not breaking), its going to be a surprise and maybe it's going to be much higher cost than the price difference you pay now, but maybe it won't. just my 2 cents.

 

Or, trade for a Tundra you can get even up. Best of both worlds. I. Hate. Car payments.

 

also don't forget, when you trade in the truck for over 40k, you are saving that much in tax for the new to you vehicle purchase.

 

I look at it this way - your silverado has VERY few miles and has had relatively few problems - although I would personally be a little nervous that a simple fluid change cured the transmission shudder permanently. BUT it's paid off. Is there a way to purchase an extended warranty on the silverado just for peace of mind? (might be cost prohibitive at this point).

If that's not an option, I would consider trading for the tundra due to the reliability. The payments on the new loan would be pretty reasonable and the CPO comes with a 12 month / 12k mile warranty doesn't it? Judging by the amount of miles on your silverado, the mileage limit wouldn't be an issue. You'll likely never need it but is good for peace of mind. And IF the silverado does have a transmission issue, you're going to be paying pretty close to or above whatever you finance to get into the tundra.

 

The $45k you get for your truck can buy you a ‘21 Tundra straight up. No payments. Maybe just not the one you’re looking at. That would be the smart move.

 

Late Tundras/Sequoias in higher trims have a lot of features actually.

 

I would trade it off and think long term reliability.

 

Is it the Tundra Sx? If so, that is WAY too much money in my opinion. Otherwise I would find out what the MSRP was on that vehicle and decide from there.

 

No the 'nightshade' is based off the Limited platform and came either 2WD or 4WD...

 

Oh, ok, thanks for the clarification, as I had not heard of that edition. I just looked it up and it appears the MSRP on those was 48K-50K, so the OP would be paying what it cost new, which in my opinion is too much. I would say offer 45K maybe 46k max depending on your market!

T

 

Yeah... a bit high if looking at things that way, but unfortunately used trucks are still pulling a premium.

I put my '21 Pro into one of those insta offer things (just to see where it would land), and I was offered more than MSRP and what I paid for the truck by a couple of thousand....

The problem is if he waits until the market corrects to buy, he'll also be getting less for his current truck...

 

I just traded in my 2015 Silverado LT RWD 5.3L with 38k miles. Got 23.2k for it and it retails around 25k which I am fine with.

I traded it in because I really didn't want to have to deal with any transmission issues which I've heard about but also personal friends had to deal with. I love my new Tundra.

 

We got rid of wife's unreliable Volvo SUV while the used car prices were over the roof and got her a last year V8 Sequoia. Sure, it does not feel as luxurious and looks a bit ugly to my taste, but it will last as long as the oil is pumped from earth. On the roads and especially on the trails (it is TRD PRO) it is day and night compared to her past cars. She totally loves it.

This is our second 3UR-FE engine + AB60 transmission combo in the fleet. Thirsty but trusty.