Conundrum - Sell or ..... Not

I am in a bit of a "interesting" situation... I have my 2019 4Runner Limited (in FL) under 15k miles, about $21k left on a zero interest loan - that I need to store until May next year. My out the door was $45,700'ish - I have been offered ~$49,800 by both Vroom and Carvana. I can put a deposit down on a 2022 and get on a waiting list (since I can wait 6 months) - my out the door on the 2022 is $54,300. So, rolling the equity into the 2022 would amount to a new loan of $25,500 - less no car and insurance payments until the new 4Runner came in. What do folks think?

 

does the new model have a feature you are lacking currently, if not personally I would hold onto it.

 

With the current market and shortages I would keep what you have. Things are not looking to spectacular.

If you need to store it I have done that with many vehicles including my new ORP for winter. Buy some stabil and add to your fuel tank topping it off, give it a good wash and wax (this is just me) and put a few extra pounds of air in tires and hook up a battery tender.

I put my insurance in “storage mode” for MIchigan winters. I assume you could get this in FL. So I can’t drive my ORP on road but everything else is covered if roof on garage goes, storm, stolen, fire etal. It’s $20/ month for storage rate.

As they say a bird in a hand…. I would keep what you have if you like it.

 

What's the sales tax on $54,300 in FL? With no trade.

 

Sounds like a deployment? 6 months has turned into 8 before. Sounds like you upgrade 3 years for $4k, plus you save the payment and insurance while gone. I’d sell if it was me.

 

I wouldn’t sell, unless you have a guaranteed vehicle waiting. If something doesn’t work out, you have no ride and are at the mercy of these crooks, I mean dealerships.

 

8 months then turn into a year. But for real, save that deploment money then put a big down payment on a brand new t4r.

 

a last model year will definitely sell better later on

 

Totally your call. My only concern would be, being able to get a replacement when you are ready.

I’m actually glad I have an 18’ without the newer electronic nanny systems.

 

Unless you were going to sell the car and pocket the money then not I would not buy a new vehicle. There's no good financial decision to do that. If you don't care about the financial aspect then do what you want. With the current economic climate, I do NOT see things getting better. Inflation is going to be a big killer. I'd say keep what you got and get it paid off.

 

Buddy do what makes you happy. My only advice would be think it through.

 

well in that case I'd sell it

 

This is completely personal preference and a decision that YOU will need to make and live with, based on where you are in your life...

In 6 or 8 months, your offer may go from $49k to 41k - being a new calendar year will absolutely affect your future offer, maybe not this much, but it may be a different market then. Would that change your ability to buy the new 4R?

If it were me, I would sell it, bank the cash, then see what the future holds. Yes - it is a risk to come back and not immediately have a vehicle. BUT - you will have the money available to buy a temporary vehicle if necessary.

 

Yeah. Tough pickle. My trade-in value has gone from 45k to 50k in the 2 weeks since I bought my 2018 Pro. Could probably make $20k if I wanted to get rid of it.

If the perfect deal fell into my lap I’d follow through. I don’t have sentimental value attached to any modern vehicles. They’re all easily replaceable

 

I wouldn't sell to buy the same thing. Nothing in the new Runner catches my attention minus the camera system but I'll just do my own thing there.

 

Have you considered paying it off while you are away? A paid for Toyota with under 15k miles on it would keep you out of a payment for a long time.

 

My vote is to sell now. You aren't in a rush to replace it. Market is crazy. We've sold three 4runners during COVID and have been able to replace each with a little time and effort.

 

So if he’s carrying 2 payments, dam right sell.