Surrender my trade-in now to lock in incentives and wait for the 2025?

I think many people will choose 2025 for at least these three reasons:
- power lift gate
- less riskier engine debris issue. Some analysts said they may include more 2024 in the recall later in the year or early 2025.
- messaging seats for Platinum buyers.

I don’t know how much discount can be found here in Canada but they are not as good as US. Also, my trade in (2023 vehicle) value gets lower once overtime and even more when they start to release 2025 models.

 

Wait for 26 in this instance.

 

Ah I see. Yea man I am not sure on paying msrp even with an included accessory. Who knows if the 25 and up models will suffer the same depreciation as the 22-23 Model years have. I am not sure about Canada but in the states there are plenty of discounts to be had. I would assume as the 25s start rolling onto the lots there will be discounted too. Just look at the Land Cruiser, you can already find discounted 2024 models and it was just released. I wouldn’t pay msrp anymore as the supply in the US is there and will continue to be there since Covid isn’t a thing. But your mileage may vary being in Canada and discounts or supply might not be as abundant. Best of luck!

 

I am hoping there are some Canadians here who can share their view on this matter. Thanks though

 

I’d send it now. 2024 won’t be much different than 2025. And I just sold a Chevy that has the power lift gate and trust me, you DO NOT want that. That’s a good feature for a mini van, bad feature for a truck being used as a truck. Save the dollars, buy now if you’re happy with the one in stock

 

Tonneau cover or free running boards and 10% off accessories are drops in the proverbial bucket. Big thing it sounds like is that extra $10k/additional tax incentive you’d score by going through them. If they’ll give you $65k, and you’ll net $73k total, compared to $55k and $xyz total, that seems like a good deal. Why are they willing to give you an extra $10k compared to other dealers? I know you said you don’t need the truck until the new one comes in, but I’d still use that as leverage and get firm dates in writing for delivery, trade in values, msrp etc.

 

I was surprised as well that they are willing to go to $65k as their first offer. I didn’t even reach out to them. They found my ad online and contacted me to see if my vehicle is still available for sale. They offered me right way $65k without knowing that I was also looking to get a Tundra. They told me they will buy my vehicle whether I get any vehicle from them. I could walk out with $65k from them or $73k with tax saving if I get a vehicle from them.

 

Interesting. Are their national buyers like Carvana or Carmax in Canada, and if so, have you tried an “instant offer through them? In any case, it seems like this dealership wants your vehicle, maybe they’ve already got a buyer lined up that they’re doing some scouting for. I know you said they said no to free Tonneau and running boards, but I might try and hardball them and see if they’ll do both, or, if you want a color other than white more, see if they’ll do the free tonneau or running boards and run the deal on another color at a tbd date.

 

Not in the US. Your market is different. Florida dealers have 2024's on the lot and they have been sitting all types of trims levels and hybrid or non. They are being discounted, and the old ways of discounts and deals are back again. COVID MSRP and market inflation are gone in reality for anyone who knows how to buy a vehicle. The kids today have no clue how to deal, and will pay sticker and then some.

Randy B

 

Most dealers probably won't discount the 25's when they have 24's on the lot. They will want to sell all the 24's first. From what I've seen, dealers also are less likely to offer discount on vehicles they don't have vs what is sitting on the lot. Sounds like a good deal and you are happy with the deal and what you are able to get in with the 25 I'd say go for it.

 

This makes sense financially, but when you throw in the dealership's end, which is them not being able to order the exact truck you want. I assume they use the same process as the dealers here do. Seeing what's allocated in the area and trying to get as close to what a customer wants. As others have said, they are definitely not going to lose money. As for the 10% off accessories, forget about that, anything you find on the Toyota accessory list can be bought elsewhere for a fraction of the price.
The trade-in does go down in value as time goes on, but realistically, if you're talking about 2-4 months, you aren't losing $10k, maybe $1k-$2k at most. I guess a lot has to line up for it to be a smooth deal, if you have enough faith in the dealership you're working with then go for it. I would definitely try to add-on a couple more things like PPF to sweeten the deal.
I'm curious how many Tundras do they have on their lot now?

 

Only a sucker pays MSRP.

 

No Carmax in Canada but we have Clutch. They buy and sell cars online only. They are not interested on my car because it is out of their price range and product offering.
For sure they will have the car that I want. I am looking for Limited TRD off road or Nightshade in machined grey. In Canada you cannot add options on trims. If you want some features you will need to get vehicle with the trim that comes with that feature that you want. No “a la carte” options.

 

There hasn’t been many serious interest so I am worried about getting what I want on my car especially as the time goes on and 2025 is coming. Getting $65k plus tax incentive $73k is more than what I am looking to get. I don’t know if I can get this from private buyers.
For sure they will have the car that I want. I am looking for Limited TRD off road or Nightshade in machined grey. In Canada you cannot add options on trims. If you want some features you will need to get vehicle with the trim that comes with that feature that you want. No “a la carte” options. According to their website they only have one 2024 Tundra on their lot. They are a smaller dealership about 2 hours away from where I live.

 

In that case, since they’re unlikely to mark down a 2025 until their 2024’s clear the lot, I’d say go for it. Like @brhodea said, if you wait to trade in a few months your trade in should only devalue a couple thousand. If this $65k trade in offer is the best you’re going to get, and they’re only willing to offer that right now (again, thinking maybe they’ve been shopping around for your trade in for another one of their customers and they’re willing to pay a premium to keep that business) and they can guarantee the color/package you want, then the worst thing I see is being vehicles for a few months but you said that’s not an issue. Have you asked them how long that $65k offer is good for? Typically around me dealer offers are only valid for a week or two, but if they’re on the hunt for your trade in, their offer in a few months might be more akin to what the other dealers are currently offering minus the next few months of depreciation, i.e. $55k -$1-$2k, or even as low as $50k, a bird in the hand is better than two in the bush and all that. I would still try and leverage the being vehiceless for a few months and don’t let them know that you have another vehicle, make it seem like being without this vehicle is going to be a major pita and possible deal breaker unless they can sweeten the pot more. Go fishing and see if they bite, and if not, worst case scenario you’ve already got a deal it seems like you’re happy with and at the end of the day, you’re the one buying and selling and if you’re happy that’s all that matters. It sounds like a good deal to me even without the gimmicks of free tonneau/running boards and 10% off accessories as you could probably negotiate those at most dealerships because they make a big mark up on accessories.

 

I think it sounds very tempting, also a bit too good to be true. Take pics of your RX and let a couple other dealers know what you're being offered. I traded 2 vehicles in on my 24 and one of the dealers I contacted wouldn't even call me back because I assume they couldn't touch what my selling dealer offered for my 2 vehicles. Plus I paid dealers invoice which was about $4800 off MSRP.
Good luck with your deal, looks like you'll at least spend a day driving out and getting a better feel for the dealer that'll be holding $73k for you for 2-4 months.

 

That is a good trade value especially considering the tax incentive for the extra 10k that they are offering over other dealers. From a different perspective you are getting wholesale market value for your trade in and a 13k discount off of the new truck. It is to your advantage that they overvalue your trade in and save you the delta in the HST tax.
I assume that the hard tonneau is the one from the Toyota.ca website. If so I believe that it is a rebranded BakFlip MX4, although I could be wrong. IMHO BakFlip products are decent quality. I can't comment on the running boards as my truck included the powered boards.
It sounds like a pretty good deal to me although there is no way to tell if there is going to be a market correction in the near future. The Bank of Canada is rumoured to be reducing the prime rate next week which should increase demand as money will be a little cheaper so locking in soon might be to your advantage.
Having said that I think you might get a better discount on a product that the dealer has on the lot as they will want to move it before the model year changes. I know that the dealer near me (Lindsay Ont.) has several Tundras that he would like to move. Dealers are willing to trade vehicles so if you find one that you like at another dealer, the dealer that you are working with might be willing to acquire it from the other dealer.

Good Luck.

 

They don’t seem in a hurry to get my trade in but they did say if I am waiting too long they may have to reassess the value. That’s why I offered them to take my trade in now so I don’t lose out on the value. I spoke to different dealers and this is the highest offer. Even Lexus dealers couldn’t offer me close to what this dealer is offering me.

 

I did show the pictures to multiple dealers. Even Lexus dealers couldn’t get close to $65k. Yes I already drove to this Toyota dealership and I am glad that they are giving me option to either use the trade in for 2024 or 2025 model

 

yes the hard trifold tonneau cover is from Toyota.ca website. They also said that they are willing to acquire it from other dealers to get the truck that I want. I just was not sure if I am making the right move by locking in the 2025 at MSRP

 

If this is that stressful walk away . Starting to look click bait-ish

 

Care to elaborate? I don’t understand how you got that.

 

High pressure go go go go ^^ dealerships thrive on gotta do this now tomorrow the numbers won't be so good blaw blaw blaw. My .02 cents if you don't need the extra car sell it now for whatever you can get for it all signs point to a recession within the next six months so tax credit be dammed get outta you other car now and wait for the market to drop that deal will look like crap when all the dealerships can't move product.

 

Remember that Toyota does not build vehicles to order but rather pumps them out to their own algorithm. So, one problem with waiting for the 2025s is that depending on the trim, color, bed length and options you want you may be waiting well into the later part of 2025 before you find it. If you give yours up now you may be without a truck for many months.

 

This... also , if they are that quick to offer that much more for your trade; you're paying for it somewhere else. If your don't need the truck now, why pull the trigger to lock in so many unknowns? The dealership wants your trade now and to lock you in for a price NOW that favors them. They aren't maximizing your savings, just their profit. Just my $.02.

 

are you referring to recession signs in the US. Canadian market is different.

 

How common is what I want? I want Limited TRD off road in machined grey with 5.5’ bed. Is this not commonly made? Also, in Canada you can’t add options like in the US. You can only order based on trims

 

I think the only unknowns right now is whether the engine debris issue will also affecting 2025 model years. The availability issue is non existent I think since what I want is not unique (Limited TRD off road machined grey 5.5’ bed). We know there will be a slight price increase $2.5k for limited. Did I miss anything?

 

You will never know... Toyota builds these in runs based on a number of factors. Trims, bed length, colors, availability of parts for the various options, etc. And they will never tell you how that works. Bottom line is that you get what they send, and you may get lucky... or not.

 

Only a sucker buys a brand new vehicle.