trading in '21 for '22 - need a weigh in on the trade in

So my dealer ordered me the new truck (changing from black ORP to silver ORP because I have grown to hate maintaining the paint and do not want to deal with black long term) and they are offering me $500 CAD below MSRP on the new 4Runner and $53.3K CAD on a '21 ORP with 5500kms on it.

Last year this same dealer, same chip shortage, went $1000 below msrp and gave me $1000 more for my Tacoma than a rival dealer.

My question is, is this a fair trade for my 4Runner? I see SR5s with 10K kms listed for $59-60K so I think they are holding out but maybe I'm overlooking something here.

 

Spit balling here, but my guess is you're looking at a difference of $3k CAD between your used trade in and brand new 2022?
That sounds like they're trying their best to leave some meat on the bone for themselves to earn after they detail and market your vehicle. Seems fair to me, but maybe the difference is greater than $3k??

 

yeah, I mean I know they need to profit but lol so do I if I can. If they list it for $62K they will make 8-9k out of this, seems a bit much.

 

I guess I wouldn't expect them to list a Used vehicle for more than MSRP on a New vehicle, but these Car Dealers and the Market are just weird right now.

 

I traded my 21 Camry XSE for my new 22 4Runner last month and they gave me 33,000 for my Camry (I paid less then $30,000 for it) and put it on the lot for $39,900 so I guess used prices are just crazy right now because they don't have any new ones.

 

Managed to get the new 4Runner $1000 below MSRP so I'm going to go with it. I'm still making some money here like the poster above with his Camry but man the dealers are the ones who really clean up.

Only question is do I lease again or finance. Going the lease route again and getting them to cut me a sweet cheque is pretty tempting.

 

I would never lease anything, personally. Especially a 4Runner. What's the point in buying the most reliable vehicle out there and then giving it back in 3 years?

 

I mean 4Runner is one of the few vehicles it makes sense to do this with considering you can routinely trade it in for more than you paid for it. I've traded Tacomas in before off of leases and had equity come out of it. People who drive 4Runners, Tacomas, Tundra who lease routinely do this with no real financial hit.

The real advantage vs. financing is if I get into an accident with needs $20K of repairs and a permanent record on the car fax and I financed it, it's my truck and I take the deprivation hit.

 

sounds fair to me. It's becoming unheard of to get a new one for anything below MSRP.

 

Why not keep your truck and wrap it another color?

 

I hear ya on the color and maintenance of this color. These are very crazy times for the auto market. Your deal listed doesn't seem bad, and not to sound mean, but, you're the only one that can justify this deal, if you are happy with it, go for it. I understand wanting a second opinion, in the long run you live with the decision. Do you have any mods like wheels/tires, etc. etc.? If so, don't expect the dealer to kick in an allowance on the deal, but you know they would tack on some money to the next prospective buyer, usually that's how that goes. I wish you luck on this deal, remember, they want that 'used' 4Runner as bad as you want the new one!