Unique 2019 SR5 Trade-in situation

I'm in a unique situation to trade in my 2019 SR5 CM 2WD. A week after buying my truck I was t-boned at a Costco gas station. Unfortunately there was structural damage to the B pillar and it got reported to Carfax. After getting the repaired truck back I was curious to see what my dealer would give me for it. I was offered $22k, paid $40k OTD. So needless to say I figured I'm stuck with my brand new, but damaged, severely diminished value vehicle.

Then covid happened, and used vehicle prices are absurd. This market may work in my favor as I have recently been offered more than what I owe on the truck.

So I'm looking for some advice on what to do, trade in my truck on a 3rd gen, or even get another 2.5 gen to get in a clean title vehicle?

I like my truck, but wish I would have gotten a higher trim level with 4WD, leather, and a better stereo. My SR5 is very utilitarian, and doesn't give me that feeling of pride that some of my other vehicles have given me. Add to that the accident which I think about every time I look at the thing, builds on the negative feelings about paying so much a month on something that is just meh to me.

Worth it to upgrade?

 

Upgrade it and get the Tundra that you REALLY want.
Good luck with your decision.

 

I agree with @Jim LE 1301
I usually don't support trading in something one already has and is iffy on the decision.
But usually, they have a paid off vehicle.

Since it isn't paid off, and you aren't happy with it, I'd say trade it in or sell it while the market is in your favor.
Get at least a Gen 2.5 Limited, or maybe a lightly used 1794 or Platinum.

The good thing about 2022 Gen 3s, even the SR5 has packages that come with Softex (fake leather), dual-zone climate control, heated seats, etc.
I think the Limited gets into the full sunroof and stuff like that.
Go here to build your vehicle and see what is possible, finding one in stock soon may be a different challenge.

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I love my 2014 SR5, it's been paid for since 2018.
I've added everything to it I wanted that a higher trim model would have had.
Although it would have been cheaper just to buy a higher trim model.
But I bought my 2014 in December of 2014, my 2005 was ruined, and I needed a new truck, selection was limited in my then price range.
I plan to keep it a few more years and then look for a lightly used Gen 3 Platinum or 1794.

One more thing, don't be fooled that the JBL system is going to be a big upgrade over the non-JBL in a Gen 2.5.
There are plenty here that hate their JBL systems.
Not sure about the Gen 3, no one has commented on it.

Life is too short to have a tundra you don't like, if you can afford one that you do like.
Good luck and welcome to the forum.....

 

Just out of curiosity, did you airbags deploy?

 

Thanks for the well written reply. I was considering going back to a Taco, had an 06 4X4 which I loved, but the ability to roll down the entire rear glass is a feature I just have to have. That coupled with the new Pano roof in a 3rd gen is almost like having a convertible in a truck. I live in San Diego and really enjoy having all of the windows down in the summer.

The older I get I realize I just don't have the time/energy to buy a lower trim and eventually add everything I want. I had planned on new wheels/tires, new sound system etc.. but only a deck upgrade and tonneau cover has been added in 3 years of ownership.

The Gen 3 limited trd offroad checks all of my boxes but man that price! It will be $67k OTD at msrp for the truck I want. I suppose a 7 year loan isn't too bad. Life is short though!

 

Luckily, no! My little girl was on the side that was hit, glad she wasn't hurt. Both doors were replaced and some B pillar sheet metal was welded in but no glass broken. It was a fairly low speed incident.

 

I think it's a no-brainer. You don't like the truck and have an opportunity to get out of what was a backwards loan due to an accident. Heck, maybe even just sell it outright. Lol

 

I'd get out from that one while the getting is good! Plus get a 4wd

 

Life’s short, do/get what makes you happy as long as it’s within your budget. If it was me, I would sell and upgrade for the sole reason of it being 2wd. Then again not everyone needs 4wd. At the end of the day though, if you’re not happy with your purchase now, you never will be. I vote sell. Buy once, cry once.

 

Agree with others - this is a sellers car market of a lifetime, so take advantage, you certainly don’t want to keep your current Tundra so sell it while the prices are are insane levels.

If your dealer won’t give you a good price on your trade, try Carvana too, I’ve had really good experiences with them.

 

I had the same issue with my 2019 but without the accident. Not enough extras. I thought about doing a lot of mods but when I put a pencil to it I found it made more sense to just trade it and upgrade the whole thing.

In lieu of that I traded up to a 2021 1794. Received a great return on my 2019 trade and got the truck I really wanted. Now 3 months later I'm almost over the buyers remorse and.loving it.

Even with the JBL system it needed more power from the sound system so I upgraded the sound system.

I would like to lift it and put nice wheels and flares on it but... $$$$$

But overall, I am super happy with my decision. I vote to trade up and enjoy life.

 

Was it the other persons fault? In some states I believe you have up to 2-3 years to go after the other persons insurance for diminished value. Get an trade in value from a dealer on trade in value damaged vs undamaged and the difference is your diminished value.

 

Agree with this - go after diminished value first

 

I had thought about that and was going to go that route but the driver who hit me didn't even have enough coverage to fix what was broken. We had to threaten to sue AAA just to get them to cover the cost of repairs and our deductible. We had a Costco gas station video and a dash cam to prove it wasn't my fault. The only other recourse was to sue the guy directly through small claims, and in California the max is $10k. Most Judges don't even know what diminished value is and proving the vehicle has lost that much value is hard to prove. This route didn't seem worth our time and frustration in the end. The lesson here is to add a diminished value to your own insurance, especially for a Toyota truck. Its probably better to have that clause in your insurance over GAP, since Toyotas hold their value so well. Insurance wont even total out a Toyota truck with frame damage, they will pay to replace the whole frame. There was a Taco at the shop mine was being repaired at that had the cab/bed off the frame for a frame replacement, just nuts!

 

get out of it and get the trim you like and 4WD. I would never own a 2wd truck, unless it was set up for sporty driving and fast.

 

I honestly havent needed 4WD but I want to start exploring/offroading again so it will be on the next rig for sure.

I'm wondering how long the used market will be this crazy. I was thinking about waiting a few months to see if the dealerships will be flooded with trucks and then make my move to at least get MSRP. Most stealerships in Socal are selling $5-$15K over. Longo is selling at MSRP but they have a 3 month waitlist with deposit. I also need to go and actually test drive a 3rd gen, might not like it anyway!

 

Also, I understand that you want a better equipped truck that doesn't feel cheap, but I'd actually prefer a base model with fewer options that I could trick out the way I like; Someone mentioned in this thread that the factory JBL system isn't worth the extra money. The JBL systems in some older Toyotas kick ass, but I've heard that the ones in the newer trucks aren't that great; I've got less than a grand in the stereo in my Tacoma, and it will blow any Toyota factory system right out of the water. I do have JBL speakers, but they are aftermarket units that I picked up on Amazon, which I think are of a higher quality than what JBL-equipped Tacos came with.

You are honestly best off getting a slightly better equipped SR5 and upgrading the stereo yourself!

 

I'd advise against Tacoma unless you're a very small person.
I've had a 1997 4-Runner, a 2005 DC Tundra, and now a 2014 DC Tundra.

I've been driving a 2021 rental Tacoma for 4 weeks waiting for my dealer to get my replacement cats in.

I don't like it at all.
It's too cramped inside.
It's too low to the ground.
The engine sounds like a lawnmower engine.
It drives like a go-cart.

I can't wait to get my tundra back, whenever that is..


As others stated, I would get a 4WD.
My current Tundra is 2 WD.
I'd rarely need 4WD, maybe in ice and snow we rarely get.
But I'd rather have it and not need it, than need it and not have it.
My next truck will be 4WD.

 

Did someone steal your catalytic converters?

Also, I daily drive a 2nd Gen Taco, and I've driven a 3rd Gen; I like the 2nd Gen better...

 

Yes they did.



Maybe if my rental Tacoma was a 4WD I'd like it more.
I don't know..
It just feels too light and too small and too slow..

 

In the words of The Steve Miller Band...."Take the money and run!"

If you can get more $$ out of your used truck with that type of CarFax history, then do it and upgrade.

 

While dealerships are playing the market I can't help but wonder if they're overall business bottom line stays flat. I think regardless of the market one would ultimately end up with the same "deal" but it just looks different.

If you're longing for the better truck there is probably no better time than the present - regardless of the "deal"

Jmo...

 

See what carvanna or one of the other online car dealers will give you for it.

 

I say do it for a new 2.5

 

Definitely upgrade and get the vehicle that you want. Life is too short if you can swing it do it
I got a platinum and pretty much turned it into a pro just because I wanted the little amenities the platinum had to offer. I completely agree about the JBL Soundsystem. It’s hot garbage and you have to be careful how you upgrade it. I just went and upgraded everything keeping my head unit but it took a lot of research and got everything I needed along with custom dual sub box in the back Good luck

 

I know it won't pass emissions without a cat, but I didn't know it was actually illegal to drive it without one...

 

And I'm jealous; Your dealer gave you a Tacoma. I just got the frame replaced on my 2010 Tacoma and they gave a me a Camry LE as a loaner!

 

If I could find a new one. Most of them are gone save for the single cab SR's. The used ones are going for over $50k. Might as well wait a few months and get the 3rd gen.

 

Carvana just offered less than I owe on it, probably the worst online offer I have had. KBB and Carmax were the best. I might have to sell private party to make this work.

 

Try here too it’s not very well known yet

https://www.givemethevin.com/