Thinking about selling? Am I crazy or calculated?

So this pandemic has got the wheels turning in my head. Just saw Gearrunner's YouTube video about the scarcity of Toyota Trucks right now and how dealers need inventory. I decided to check the value of my 2015 Crewmax and was floored to see the value had risen by almost $6,000. It would mean that after almost 6 years I would only be losing about $8-9k from what I paid new.
The wheels are turning in my head. I think the value is as high as it is ever going to be right now and it a "now or never" decision.
My thoughts are I get my money, get something small and cheap to drive for the next few years, pay off a little bit of debt, and set myself up for for the next gen tundra if I am interested.

What do you think? The truck has been a good truck. Only has about 62,000 miles on it. Had the compressor replaced under warranty but other than that no issues.

Talk me into it or out of it!

 

I am 100% into paying off all debts. If that means selling the truck/losing the payment, so be it. Get yourself into a better financial position and when you are, buy another one. As long as losing the truck won’t ruin your fun on the weekends, lake days, etc

 

I did forget to mention that the truck is paid off. But I have a little bit of other debt I'd like to get paid off. Thanks for your advice!

 

2018 and 17 Tundras are going for more than I paid for my 2019 new...crazy

 

I know. It's insane!

 

It is nuts. When I was shopping they tried to sell me a used truck with 36k miles on it for more than I paid for my new one!

 

Too many people selling tundras is going to ruin my resale value. I vote keep it

They are excellent trucks lol

 

Thinking about getting a F150 myself, bored with the tundra, its a great truck, but I am bored.

 

Its true, I am bored with it, but then again I am pretty bored with life in general right now as well.

 

Well, being in a Ford should liven things up. Probably just make you angry but it's emotion none the less.

 

Eh Some are great, some are good, some are bad, its all a roll of the dice anymore.

 

Probably.. I'm torn. The prices of vehicles have skyrocketed since I bought my truck.

 

Bored now ??? You will really be bored sitting in the Ford service department lol

 

I noticed that too....WTF!

 

But hey, he might get a free pair of these....

 

Dealers are marking up prices on the 2nd gens as well, but won't give you crap for trade. I told the dealer they weren't getting my truck, and that it would be worth more to keep mine and buy a 2nd one.

 

In my best Dave Ramsey voice, and you don't need to answer here but think this over.

Run the numbers. How much debt you'll need to pay off, how much is your income and whats left after necessary bills, how long will it take to clear your debt while eating beans and rice?

From there, does it make sense to sell the truck for a jump start? When you are debt free will you be okay driving say a $2k driver or will you want another new car/truck? If so, you'll be back in payments/debt unless you're cool with driving the "driver" while you save for a nicer ride.

Its a lot to think of. If you don't really need a truck then sell it. If you have frequent needs for a truck, keep it since your eventual replacement cost (plus cost of the driver) will exceed your sale price.

 

I wouldn’t look at your truck as an asset that has appreciated. Likely even if you “make” money on selling it now....chances are that you will likely lose all those gains on a future vehicle. If you had payments on it, i would say heck yeah sell it. That situation is very different

 

Crazy!!

 

I just sold my 2016 CM for almost what I paid for it 2 years ago.

got into a nice, rust free 2006 Double Cab 4x4... So I’m happy

 

What if the new Tundra is junk and you have to fight everyone else for any 2007-2021 that can be found?

I wouldn't do it but I feel like I need a truck in my life.

 

I reached out to my local dealer ship just to see if they would be interested. They only had two trucks on the lot. I'm in no way dead set on selling it. But I feel like the smart thing is to check just to see if they would make an offer that I can't refuse, which I'm pretty confident they won't.

 

They won’t stop making them and the ones out there will be sale eventually. It depends on how much you like your truck. I’m on my 3rd Tundra and made out good on the other 2 without anything driving up the price. That said, it would take a lot to get me out of my current one because I do like it, a lot.

 

Damn! My 18 limited with 15,000 miles listed for $48,000 private party. $43,000 trade in . Hmmm.

 

That's crazy. My 2020 Limited w/1700 miles (every option except moon roof/spray-in/RB) only shows $400 more (private party) than your 18