Thoughts on trading?

We have a 2019 Tundra CM Limited with 111k miles owe 14.5k bux.
Can trade for a SR5 CM and keep payments the same. The 2025 has some decent features, not optioned out but some convenience features.

Thoughts on trading for the 2025. 38.k bux bottom line to finance.

Take care, give care!

 

Pretty simple to me.
If you absolutely need to drive a new vehicle go for it. That being said, your vehicle should have plenty of time left, you still owe money on it and it really depends person to person if never seeing the end of vehicle payments makes sense to them.

 

I previously had a '21 SR5 double cab, and now have a '25 Limited Crew Max (with 3 years of no Tundra in between) and can tell you there is a lot that feels the same and a lot that feels different.

The 3rd gen seems to have notably better on-road manners, and with an increase in creature comforts from the SR5 to Limited is even more comfortable for long travel. The infotainment/interior buttons have come a long way (I had a 10" aftermarket Kenwood in the '21, but the factory 14" screen in the '25 is monstrous). Power-wise the '25 has no issues thus far, although, being <500 miles in I haven't given it the beans yet. It doesn't seem to be a slouch or have any problems.

Will the 3rd gen be as long lasting as the seemingly indestructible 2nd/2.5 gen? That question remains to be answered. The 5.7 is a great engine that is just flat out reliable (and fun to drive).

I don't think you would go wrong in either direction. If you're worried about longevity of the 3rd gen, wait until you get closer to the end of the warranty period and add one of the Toyota extended warranties for ~$1500 to cover it to 7yr/100k

 

There are going to be two types of responses to this thread: people who tell you things they like about 3rd gens and why you should get one, and people who tell you things about 2nd gens and why you should keep yours.

The real questions are:

• Why are you willing to finance another $38k on an asset that will depreciate faster than the one you already have?
• Do you need a new truck?

 

We

We don't need a new truck, with 111k miles stuff could start going wrong on it and being a little older it would be nice to not have to be concerned about keeping it running.
That's the main reason we're considering the purchase. We don't tow anymore, but we do need a truck for other fun stuff we do.
I appreciate all the feedback.

 

111k is nothing on the 5.7 trucks, and most of the regular stuff that comes up and all the maintenance is fairly cheap and easy to do. I would keep what you have, get it paid off so you don't have payments and enjoy that truck for a long long time. Plus the 2/2.5 gen trucks are holding value far better than the 3rd gen trucks are currently, and I'm saying this as a 3rd gen owner who loves his truck. Just my opinion

 

When I say "you" and not knowing your family dynamic lets just assume I'm talking about you guys, your family etc. Fair enough?
While that may be the case, part of the upfront costs of buying a Toyota is buying peace of mind specifically the dependability.
Had your odometer read 200k miles i'd be a little more inclined to understand what you're saying but a 6 year old vehicle with that mileage shouldn't be a huge concern. If problems are persisting then there might be a case to be made for replacement.
It all goes back to my original statement. New vehicles for the most part come with confidence it'll be problem free but you're definitely going to pay for it. whether or not that makes sense depends on each person.
Good luck!

 

So, you currently owe 14.5k and jumping into a new one will set you back 38k. The different is 23.5k for 6 years newer and no miles....hmmm I'll do it.

 

I say keep the old one! If you're dead set on getting a new truck, sell yours private party, get it detailed and price it fairly. It'll sell quickly.

 

Life is short. Buy what you want that is within your budget

 

Personally, I like to trade my Tundras in at around 130-140K miles. By that time they are usually 7-8 years old, and I'm ready for that new car smell, again. It's also when they still have a decent trade in value and usually start requiring more $$ to service and maintain.

That said, I haven't financed a vehicle in over 30 years, let alone trade one in that I still owed money on. If I were the OP, I'd rethink that move. It also appears he has a young family, so that would weigh into my decision, as well. I'd run the 2019 for at least 50K more miles.

But, only the OP can make this decision, not a bunch of internet pontificators.

 

Can get low rates now on new Tundras so that helps. If I were in your shoes I’d be in the market for a Limited vs SR5. Being that you have limited now. I do think the Rally trim in the SR5 is pretty cool however. I’d say buy it if you considered this far and payments don’t seem to be a deterrent.

 

My FILs 2012 Platinum is in beautiful condition for its age and only has 142k on it. No major issues. So I wouldn’t be concerned.

That being said, some of us might be willing to take the 2019 with 111k off your hands for $14.5k It’d be a nice upgrade over my 2011 4Runner with 159k, also issue free.

As others have said though ultimately it’s up to you if you can afford having payment a bit longer. I can tell you I’m not looking forward to payments when the time comes to replace the 4Runner, but I am looking forward to the new car smell and some more modern features.

 

I gave a friend a great deal on my 2013 with 150K miles for 17K about a year ago. Depends on condition but $30k+ shouldn’t be hard to get. Definitely don’t trade it in!!

 

Yeah I’d bet close to $30k selling outright. Dealers by me have been listing 2019-2021s any where from $24k-$47k depending on trim and mileage.

There’s a 2018 limited with 159k on the odo listed for $27k at my local dealer.

Trading it in for $14.5k the dealer would likely make close to that in profit.

 

We owe 14.5k, dealer was giving us 28k.
After we drove the 2025 we're sticking with our 2019 Limited. Fo us it's a little nicer interior and being almost paid off vs 38k more in debt.seems like it's the intelligent move.
Thanks for all your insight!

 

Life is short; make wise decisions.

 

The freedom of not having that vehicle payment is awesome..
It took me many years of purchasing a new vehicle every 2 or 3 years in my 20s and 30s to realize that.

 

I think totota ages more from years than mileage. 10 years would be more sensible if you're worried about yours getting aged and want to refresh what you're driving.

Re: no payments, it's a beautiful thing! I agree with everyone on this.

 

Bingo.

Financial freedom is worth it

 

Shackles of financial institution wear she must. Pay for her earthly pleasures she will.

 

I always hear "I could have paid cash, but I financed instead, because I can earn more on my cash than the interest rate on the loan."

That sounds good in theory, but how many people actually invest their excess cash, instead of spending it on other luxuries? And do they factor in the rate of depreciation of a new car over the life of the loan? Or the fact they could end up owing more than the vehicle is worth in the case of a total loss accident? What if they fall under hard financial times, and can't make the payment? Do they think the lender will care?

Paying cash for vehicles has always been a gauge for how much I wanted it, and whether I could afford it.

 

comparing financial situations is tough, everyone is in a different spot.

those of us with businesses its gets way more complicated than that.

that said, I always try and balance finance with the fact that you only go around once and if you like driving newer shit as part of that, then drive newer shit, but keep it within reason.

 

This. Not everyone thinks the same. Not everyone lives the same. I personally lease and you always get the same responses for leasing, pros vs cons. My 2020 was leased. When the 3rd gen came out and I was ready to re-lease another truck, car prices were through the roof. My dealer wanted double of what I was paying for the new tundra. I decided to buy my truck out and wait the ridiculous prices out. Fast forward till now and I decided to go a different route. Sold the tundra, leased a 25 MDX and bought a beater, but in great conditions, 98 Z71 to pull my boat and for house stuff. Sometimes you have to live for the moment before it pass you buy. But like you said, with in reason. I could see myself paying a mortgage just to say look at what I drive.

 

I bought a 2023 Limited in Jan of 23, just over a 4-figure a month payment as I was trying to pay it off in 4 years. That payment for me was a lot but tolerable at the time. Well fast forward two years and I realized how much of an impact that had on my monthly finances. No longer was going on vacations an easy thing to afford especially coupled with the rise of inflation. I sold it and bought a 2021 SR5 with 75k miles, that change saved me $18,500 and about $800/month in payments. I also realized that we hadn't been on any vacations in the two years I had the 2023 mostly because all of the sudden money was a lot tighter than I expected it would be. If inflation hadn't gone crazy maybe I'd still have the 2023 but probably not.

I miss the old truck some but not really. A retired banker neighbor and friend put it to me this way: Is the 2023 truck worth the $18,500 I'd save (difference between my sale price of the '23 and purchase price of the '21)? And absolutely there was other thing's I'd rather spend $18,500 on then having a nice truck, not to mention any vacations with the super high payment would require working overtime at a soul-sucking job that overtime is a terrible idea with.