Current 5th gen resale prices...

Hopefully strong enough until I have to trade in the GX in a month and a half lol

 

right? Trying to sell and replace a vehicle at the same time is all about timing

 

I bought my kid a Nissan kick in February because it was 15k new. I looked this week and new ones (2020) are going for 12.5k. Carmax offer is 22k. Kid agreed to flip it for extra cash and buy a better ride with the extra. beats me why people buy used when new can be had for 10k less! Nissan is discounting them and its being phased out and its a piece of crap

 

The used prices right now are insane. I’m glad I ordered a brand new 2021 SR5 Premium 4x4 for $43k msrp instead of buying a 2020 for $46-$49k.

 

Think I bought my 21' TRD/ORP at a discount just in the nick of time. Two weeks latter I probably would not have received the discount.

Rick

 

I was in the same boat. Was making my deal and got it for $3.5k under MSRP on an incoming vehicle. Came back the next week and they said that vehicle is now $2,800 more. Needles to say they didn't win the numbers game and I got it for originally agreed upon price. Actually, it was $500 less because someone put 37 miles on it. I made them discount it as it wasn't new to me anymore. Ha! I don't play their games. But, now if you go in there it is MSRP + $2,500 market adjustment.

 

Well the dust has settled. Bought my '18 TRDORP 3/16/20 for 35k, CPO with 22k on odo. Sold mine with 43k on odo to Vroom for 39.9k. Put the appreciation to CC debt, and I'll be debt free by year's end. I miss it, but I LOVE having no car payment for the first time as an adult (I'm 37)

 

18 TRD SR5 Prem (immaculate w/16k miles) Vroom was offering 39+k

still can't find anything else i'd rather drive......

 

Check out Carvana on 2020 4r's. Can't believe they're advertising 1 year old 4R's for more than the cost of a new 2021. Who's buying these at those prices ? Why ?

Rick

 

Rental car companies and whatnot are snatching things up like crazy. Not all of it is just your average consumer. Maybe people that need/want one but aren't savvy enough to go through the order/wait process and just need it now might account for some.

 

When businesses are involved, time is money.

 

https://www.roadandtrack.com/news/a36673767/are-carvana-offers-real/

 

I am so glad I was able to buy my 18' new when I did.

It's been said many times but if someone wants a Toyota, it really makes sense to buy new, IMHO.

Back when I bought my 97' Tacoma 4x4 V6 new, I looked at used and they were not much cheaper than new. I didn't want to save a few hundred bucks buying a used truck that may not have had proper maintenance and a kid bounced off curbs in.

 

Awesome, congrats!! Having no payments really is the way to go, it frees up that cash for other, more important things. I paid mine off in November, about 3 years early. Was SO satisfying to get the title in the mail. Of course now that I own it, knowing what the resale prices are, every time I look at all I see is a big pile of cash sitting in the street, haha.

I spent WAY too much of my life making payments, at 41 I realized it was insanity. I just turned 43 a few weeks ago, so I'm happy to get at least debt free at this point in my life. I'm still a renter though, so it's bit of a hollow victory. I feel like the smart bet would be to sell the 4R and put the 20k(ish) I could get for it toward a home purchase downpayment. Though that means relocating and a new job, as there's next to no inventory in my area, and what is here starts at 500k easy. I should probably just buy an RV instead, I imagine in the future there will be more people living in vans than houses anyway.

 

Congrats on paying off your Toy. Just my opinion, but now that you have a paid off Toyota, I'd hang on to it. When I paid off my Tacoma, I was able to enjoy a reliable vehicle for well over 10 years without a car payment. That allowed me to focus on other things like the mortgage and all the other unexpected bills.

 

Thanks for posting this very interesting article. Answers a lot of questions.

Rick

 

I'm in the same boat. My 2017 Tacoma Off Road DCLB is paid off and I like not having a car payment. I was going to keep this truck till 200,000 miles. My dealer offered me 32k for trade in and I paid 35k. I am very close to buying a 2021 4Runner Venture since it will fit my family better, but I just love my truck.

 

Out of curiosity, I put my Limited in Vroom. Offered up 4,500 more than I paid in 3/20. Wow...

 

LOL !!!! Unbelievable. Would be very tempting for many.

Rick

 

im in the same boat. i am trying to cut down my debt as well. i have been job hunting left and right and if i get a new one where i can work from home, i may downsize my car just to save a bunch of money even though i love my 4runner. but i want to buy a house and i am very far behind haha

 

You did good, the Xterra is just too dated and unreliable and that's coming from someone who actually likes Nissan products. My neighbor bought a used one with less than 100k and had to put a lot into it because odd problems kept popping up.

I've had 3 Titans 09,10 and 17 and never had much go wrong .. the 10 was my favorite. Tbh I would go Tundra first now but would still go Titan over big 3.

 

Yeah, that's the counterpoint that I come up with when I consider selling it. That was my main justification for buying it in the first place in early 2019. I went from having a 5k budget for a 3rd gen or first gen Sequoia, to over 4X that for the 5th gen, haha. All the 5k rigs I was finding were hit to hard by New England rust. I figured the '13 would last me a good ten years, even with me putting 20-25k a year on it.

If I were to get rid of it, I'd probably replace it with a mid 00's Yukon or Tahoe. I've always liked them and I miss having a V8. And no Toyota tax on those!

 

I hear ya! I lucked on in 2020, spent most of the year working from home, so I saved a ton in gas not driving the 4R on the 60 mile round trip to work everyday. I'm back in the office fulltime now (and back to hating life, haha), so the miles are adding up again. If I can't finagle a way to go remote again, I may try to find another job. I have never been happier in my whole working life than I was when WFH.

I'm way behind on the house thing too, for the longest time it didn't appeal to me, but I guess like many other people. my priorities changed in 2020. I think I probably waited too long though, like many others I'm probably permanently priced out of the market, at least in my area. Getting into a different area requires a job change as well.

 

I could have got $4K more than I paid for my Pro and really thought about it so I could be debt free, but I love my 4R and there is nothing I want to replace it with. And getting another 4R seemed stupid when I have mine setup exactly how I want it. The used market is way too high and since I don't have another vehicle it just didn't make sense. From a financial decision I should have traded it and bought a $5K beater, but I've never been practical. I started paying big chunks of extra principal payments for the last 3 months. Hopefully get it paid off in 18 months.

 

I have been blessed and fortunate. In college I studied accounting and the spender in me learned about saving.

I remember my professor talking about his old Honda and how reliable it was and about residual value; that it holds it value better than other cars.

As a teenager growing up in Detroit that ticked myself and my friends off. Our fathers worked for the Detroit 3. But as you learn more at that age we realized this professor was correct.

I learned about saving at a young age and putting money in 401ks and investments and budgeting. I saw my Dad always buying a new Ford to go to work every few years in the 80s/90s and these cars were garbage before 100k miles. But he drove far to work.

I am in mid 40s and the 4R I just purchased is my fourth car I have ever owned. I am not some crazy rich guy but I budgeted those years and bought the cars and did not lease. It’s amazing how saving and not giving in to the new car itch can get you ahead.

Sure I look at cars all the time and get the itch for a new one but luckily for me I can quickly throw it aside. I just think yep I’d rather retire earlier than have that new car.

We all have different circumstances though and wants in life.

DallasTRDPro I would keep your ride at this point and just take care of her. That $4k of a gain now is very unusual and you know love your ride now.

Drive it until the wheels fall off is my advice. I don’t think you’d be happy in a beater and chances are that beater will cost you more maintenance over the years.

I have a good buddy who has a 2003 Acura TL type S he bought new. Believe it or not he still has it today with a 250k miles and laughs at all the money he saved over those years. Sure he has had maintenance and one new trans but he saved a ton over the years.

 

I really wish I would have learned those things years ago. Actually I did know, but never chose to save. I have had many many vehicles and spend many tens of hundreds of thousands of dollars on mods. Its been my hobby since I didn't have a wife or kids. Being 50 now I really regret getting into Jeeps years ago and doing all those mods.

Its a great time to sell and a horrible time to buy a used car. I almost bought a 2012 Xterra, but they wanted way too much for me. I would only have ended up up $20K better than keeping the 4R so I passed. If I had another vehicle I would have probably sold the 4R. Since I don't and I doubt I will ever own something this nice again, I think I will just try to pay it off and have a vehicle that will last 20 years possibly. Thats crazy for me to think that way since I've never had a vehicle for more than 18 months.

 

This is definitely the way to do it. I've been struck with the new car itch too often in my younger days. Luckily, I'm over that now.

Wife and I haven't made a car payment in over 3 years.

A buddy of mine has an '01 BMW 540i that he bought in 2003. Had a major repair (transmission rebuild) for $4000 at 250,000 miles. He spent about $2000 for the timing belt (chain?) service one time...I forget what mileage he said he did that at. It's currently got 389,000 miles on it and he still drives it every day. Knowing him, he'll never get rid of that car.

He still has his '88 IROC Z that he drove daily before buying the BMW!

 

It’s not easy. I also never married or had kids so many friends and family tell me go get this or get that.

It’s never to late to start saving though. You would be amazed how quickly you can save. It’s like exercise or any new habit it takes time and dedication to form.

All the car companies come out with something new and flashy each year to entice us so I get it.

Even at 50 you still have time to save a lot of money and enjoy life.

It’s tempting when you are not married or don’t have kids. I am same way. Many days I’d love a wife and children to love and spend time with.

We are all in different boats in life though and have to make the best decisions we can at the time.

 

I am really enjoying my four week old Lunar Rock 4R. My only regret is trading in my paid off 2016 Subaru Crosstrek. But, they did give me $14,000 trade-in for it. Five years old with 92,000 miles and I paid $27,000 for it.

I like to drive my vehicles till they die. I traded in my 2002 Volvo S80 for the Crosstrek in 2016 and they gave me $400 for it. It crawled to the dealership with 240,000 miles on it. Bought it used in 2003 when it was one year old.

Still have our 2002 Z71 Chevy Suburban with 238,000 miles. It is our kids beater hunting & fishing rig. Bought it new for $36,000 in 2002.

The only vehicle I have owned that I was passionate about was the first car I purchased when I was 21 years old and in the Army - 1977 Ford Bronco. It was the last year for the original Ford Broncos manufactured between 66 - 77. I still long for another one, but the last thing I want to do with my free time is be in a car!

My wife on other hand likes new cars. She had a top of the line 2014 Honda Pilot Touring and bought a new 2019 Volvo XC60 because she said the Pilot was "about to become unreliable" for her 20 mile round trip to work. Laughable - when do five year old Hondas and Toyotas become unreliable?

To me a car is a car! I need it for work and play. It is great to have a cool rig that suits my needs again - but it is just a car!

Buy a house, save your money! A car is just a tool!

 

Autonation offered me 23k for my 2013 high mileage rust bucket with big lift, scratches and dents, and broken door locks.

The world has gone crazy.

Bidenomics!