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hdshawks 05-10-2021 03:37 PM

Dilemma
 
Ok everyone, I have a dilemma that I'm pondering on. Due to Covid-19 I and health issues, my family and I have taken a huge financial loss. My question or advice I'm looking for is I currently have a 5th gen Trail edition 5runner that has 14k left on it. Seeing as values of 4runners has gone up. I'm thinking of selling said 4runner and using the equity to get a nice used 4th gen 4runner to potentially eliminate the payments. Am I in the right thinking?

AuSeeker 05-10-2021 06:49 PM

Quote:

Originally Posted by hdshawks (Post 3636000)
Ok everyone, I have a dilemma that I'm pondering on. Due to Covid-19 I and health issues, my family and I have taken a huge financial loss. My question or advice I'm looking for is I currently have a 5th gen Trail edition 5runner that has 14k left on it. Seeing as values of 4runners has gone up. I'm thinking of selling said 4runner and using the equity to get a nice used 4th gen 4runner to potentially eliminate the payments. Am I in the right thinking?

I hate payments and refuse to have any, so I say go for it, but take the time to find a good 4th Gen with no rust, good maintenance history and confirm actual mileage (a lot of vehicles out there with rolled back mileage).

HiLife 05-10-2021 07:00 PM

Hang in there, hopefully this crisis will pass and better times come rolling back.
Yes, you're in the right thinking. I would simplify my finances if things were tight. Buy low and sell high is aways good.
Latter down the road if you're still itching for a used 5th gen, hopefully you'll be in a better position to have one again.
Doesn't make sense to keep it for now while everything else that has priority is coming up as urgent.
Best of luck to you and your family

mrbrenan 05-10-2021 07:03 PM

Man that's never good to hear, hang in there man. You can always write for Trail4R.com to make some extra cash on the side if you want. Just say'n. But in all honesty, the 4th Gen V8 is a great rig. If you can find a clean one I say go for it. 5th Gens are in high demand right now so selling it for top dollar would not be a problem at all. Also, if you are going to sell it, now is the time as the economy is over-inflated how it is. Lots of money out there right now. Good luck man!

hdshawks 05-10-2021 09:05 PM

Thanks everybody. I've been looking for a V8 sport edition white 4wd. I found one once long ago but I was a little to late to the dealer to get it. I just ended up getting the 5th gen. I has a 05 SR5 4wd one but I gave it to my mom. The 05 is still running like the day I got it.

Bumbo 05-10-2021 09:21 PM

It is true the used market is hot right now, and it’s a great time to sell, but you still need to buy a replacement, in the same market.

The success of this plan is entirely dependent of the condition of the replacement vehicle…

If the replacement needs maintenance, or had other unforeseen mechanical problems, then what might have appeared to be a deal might turned into a bigger financial burden.

I would take whatever had a lower total cost of ownership and security over a plan that might provide only short term relief.


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