Trade in my 2019 for a 2021?

Everybody is different with what they’re comfortable with but if it were me, no way would I do it. I’ve had my truck for about four months. I actually just refinanced it for less finance rate and shorter term. I’ll pay a little more per month but in the end I’ll save about $1600 and have it paid off 8 months sooner. Debt free feels pretty good so the sooner its paid for the better.

 

You forgot keyless entry, push button start, shark fin antenna, larger display, CarPlay, 67k less miles, and most importantly... new car smell.

 

2 years added to your loan is also 2 years of more interest. Also, if you are keen on the color then a paint job or wrap is less than 20k (or however much more the other truck is, sorry only skimmed through the replies). I agree, I personally wouldn't do it because nothing beats a truck that is paid off. I would just use that extra 10$ towards your current loan. At the end of the day it is your money though.

 

Gotta agree with some others... it isn’t $10 more a month. It’s additional years of payments that add up to thousands and thousands of dollars.

 

Couple things to consider......

1. What are the terms of your current loan? If it is a lower interest rate on the new truck, it may be more favorable.

For example, on a $50k truck at 3% for 6 years you are paying less than $5k in interest over the life of the loan.

2. The 2021 has several options that your 19 does not (in addition to the sunroof). Factory CarPlay / Android Auto, push button start, and proximity entry. All of these very much modernize and future proof the Tundra if those features are important to you. Especially if you would rather stay long term with the V8 in the current Gen Tundras.

3. Will you be wanting the all new redesigned 2022? If so, keeping your current truck and then getting the new one next year would be much smarter.

I personally would wait a couple months to know the details on the 2022. If Toyota resets the half ton truck bar again like they did in 2007 then you will absolutely want that truck.

 

If you are asking, my perspective...this is a poor financial idea. Your truck is great, in 3-4 years you will owe nothing. I love having my truck and it was worth the cost to me but I also paid it off in 6 months, debt is crippling.

 

Screw that! The extra 3 years is a definite no for me. I was thinking more like additional $10/month more with the same payoff timeframe. That’s a deal!

 

I have a 2020 limited with all that stuff and it's worth the 21K extra. do it . go in to more debt . you only save $10 bucks a month for 60 months $600 bucks and 60 more months payments .. Just do it

 

This

I think the OP said 7 more years of payments and on a used vehicle. I only do 4y (max) on new vehicles and if I can't afford it, I wait a bit longer for a larger down payment.

Out last one (current Tundra) we waited so long to buy, we were able to buy it with cash. Now I drive it around knowing it is 100% ours, no questions asked and no ties to payments or banks.

As you said, nothing beats the feeling of being debt free.

 

My vote...put the extra $10 towards your current loan and when that's paid off, put the entire payment into your retirement account!

 

This!!

 

For an extra $15 a month, we can get you into this one with upgraded stereo....for an extra $20 you can have an upgraded stereo AND leather seats....for an extra $30 you have this plus an extra set of tires

It never ends with dealers, which is why I avoid talking to any of them about upgrading or trading in for newer with model and extra payments

 

Amen! Best Tundra is the paid off one.

 

^This..
Imagine life without a vehicle payment...
It has been a year since I've have one and it is great.

@bruce213 it is basically the same truck.
If the blue color and a few bells and whistles is worth $20K and a few more years of car payments go for it.
But there is no way in hell I'd have a 7 year auto loan to begin with, unless it was 0% interest.
It isn't the $10 a month you should be focusing on, it is the 3 more years of payments.

I've done this exact same thing in my youth.
It wasn't a smart a decision looking back at it, but I did it any way.
I got what I wanted at whatever cost.

Do whatever you feel is right, but try to think about the long term, not just the right now.
The feeling of immediate gratification will subside just like it did with your current Tundra.
You're already considering getting rid of it.
You already have the best color of the Tundra with MGM.

I have a 2014 SR5 MGM DC.
Would I like dual zone climate control?
Sure, the wife would, but we deal with it.
Sunroof?
Sure, but I probably wouldn't use it as much as I think I would.
I'd rather have a DC with a rear window that would go down like a CM.

I've added other stuff I want thru mods to make this truck fit my needs.
Better audio, amp, speakers, sub, and sound deadening.
Wireless Carplay via Kenwood HU.
6112/5160.
Puddle lights in the mirrors.
Lighted key ring.
Katzkin Leather, it replaced the thin crappy Limited leather I got when new.
Seat heaters.
Floor board lighting.
TRD Pro grille, bulge, headlights.
Rigid fog light with TRD Pro bezels.
And much more for a lot less than $20K divided into 3 more years of payments.

 

yep, i agree with most here. absolute craziness to think in terms of monthly payment, its also the easiest way to get upside down.

 

It’s the same exact truck. I have a 19, and going to a f250 tremor. I’d never trade my truck for another half ton.

 

This ^^^

consider how many more upgrades you could do to your current truck with 20k. You could do way more and make an even more badass rig. Best of luck, keep us posted on your decision.

 

I’ve learned only buy when you can afford.
I am very happy and grateful to make my final payment yesterday

 

How much have you paid on your current truck? What kind of deal are you getting on the 2021? The answer to these questions are needed to factor in if it’s worth it.

 

Once your 19’s loan would have been done, that extra $10 per month turns into an extra entire loan payment per month for an extra two or three years.

And then once you get 67k miles in on the new one, is it going to start to feel less attractive than yet another new one? Would you be setting a precedent for yourself that turns into a pattern of desiring a new vehicle every few years?

I’m not judging either way. Just pointing out as others have that it’s not just $10/month.

 

Keep it and get a 22 if it works for ya
I wouldn’t trade for basically the same especially when something completely new is just around the corner

 

This!

Also the next gen Tundra is coming out 2022. Hopefully we are all done with all these "leak rendering" and Toyota officially makes the announcement with real photos of the next gen Tundra.

 

I say you change the title to "Trade in my 2019 for a 2022?" and revisit this decision in 10 months.

 

You are just getting your 2019 broke in at 67K.

 

OP I think you got a resounding middle finger to car payments! Car payments suck!

 

Sure as long as you can get out of it come 2022,2023 for the new style or whenever for $10. Hopefully Toyota get there paraffins right and announce either twin turbo or a diesel truck in the making. I’ll get an extra $10 if it’s a diesel, and minus $20 for turbos.

no but seriously 10 extra nothing. I traded 2019 for 2020 get more safety stuff remote start, lock and unlock with your hands, apple Alex and android play. Toyota is waiting to see what there allows to do. I bet they have something but Ford, Dodge, Chevy are trying to stop it. We will see.

good luck fellow Tundy

 

Okay, reading the replies, I realize that you should trade the truck in on an older Prius [won't cost you much], live on peanut butter and Ramen noodles, make your underwear last for 10-12 years, and invest the money you will save into a 401K.

Definitely the way to go.

Think how much money you'll have!

Also, consider living in a box under an overpass.

These are all good ways to save money.

Remember, only YOU can stop forest fires: don't start a forest fire in your wallet.

 

My 2014 loan from Toyota Credit was 0% interest.
Payment was $555 for 60 months.

I paid $600 a month and paid it off in 56 payments (with the 56th payment of $277.50) instead of 60..

Paying a little more a month adds up..

 

I would say do it! Same situation happened to me I had a 19 sr5 and my dealer called me after an oil change and told me they can get me into a 21 trd sport for no money down and my payment went up $1. Was able to remove all my mods and put them on my 21. Whatever makes you happy bro only you can prevent forest fires! I mean only you can make this decision. Only thing I would consider is if your planning on the 22 than hold off I'm good with my 5.7 V8 reason why I pulled the trigger and not waited.

 

3 more years on your loan!?? The answer is clearly no. And you know it.