Buy now vs. buy later

[MeddlingKids]

I've decided to purchase a 2005 4Runner V6 4x4. The only question is when. Logic would lead me to wait 6 months, when I can see my raise and bonus for the year. I won't actually NEED the four wheel drive until next winter, when I start snowboarding. Yet, for some reason, I can't help but be tempted now. Pros/Cons to buying now:

Pros:

* Won't have to spend $350 on maintenance for trade in vehicle
* Won't have to purchase tires ($400) for trade in vehicle
* Low auto loan rates (2.9%, most likely)
* Trade value higher than six mos from now

Cons:

* Will cost additional $1668 over next six months

My trade is a 2004 Civic EX coupe. Yes, I realize I just purchased it. But, I put $2000 down and have over $2500 in equity on it, so it's not too bad.

 

[charlier180]

I purchased my 2004 4Runner last November. The year-end mark-down plus the Toyota Cash back took the price well under invoice.
For me, the difference in savings over buying an '05 (even with the bigger V8) was worth it.

In 6 months if you can get an '05 leftover for $2-3K off MSRP and possibly Toyota Cash back on top of that would it be worth while waiting?

 

[mandercruso]

Wow, I find myself in a similar situation as yours. I have a 04 Accord Coupe EX-L, fully loaded other than navi.... and I just purchased it in August. I'm seriously looking at the 4Runner. I'm stuck between the V6 SE and the V6 Limited, both 4x2...

My car was $24865 including TT&L. I put down $10,500 and owe ~ $13k on it now. The toyota dealer offered me around $20k for Trade-In and the Private Party value is between $21k-23k.

I'm stuck with do I buy now (have to listen to parents bicker), wait til the summer (I can save up a good $5k by then), or wait for the 06 model to come out (just incase they have something new and cool for the 06 models)?

I test drove a 05 V6 SE 4x2 in Galatic Grey last week. It had everything I wanted (sunroof, spoiler), other than leather of course. But, it had 850 miles on it! I'm going to a few other dealerships on Saturday. If I can find the exact vehicle I want for a price I can't pass up, I may drive home in a new 4Runner by next week

Good luck with your decision and I'll keep you updated on what I decide

~Amanda

 

[MeddlingKids]

Amanda:

Out of curiosity, why are you getting rid of your Accord?

PM me.

 

[CVsGX470]

I bought my 2003 V6 4WD in July of the 2004 model year. I find that July and December have the best deals available especially when they are trying to get rid of the old for the new. I believe that mine was 32,something and I got out the door for 20,000 with trade.

CV

 

[DaveS]

Bear in mind that as the price of the 2005 4Runner weakens as it gets closer to being a truck thats a year old when you drive it out of the door, the resale value of the Honda is also following a similar (though perhaps slightly less extreme) pattern. You wont necessarily get the same offer for your trade in a few months time...

 

[MeddlingKids]

Bear in mind that as the price of the 2005 4Runner weakens as it gets closer to being a truck thats a year old when you drive it out of the door, the resale value of the Honda is also following a similar (though perhaps slightly less extreme) pattern. You wont necessarily get the same offer for your trade in a few months time...

Well, if I were to buy one now, I'd have to get an outstanding deal on one. One thing I've come to realize, through my previous purchases, is that dealer's will compete for business through pricing. I'd be looking to pick up a '05 SR5 4x4 V6 for about $25k.

 

[AndroT100]

I have a 2003 4Runner SE 4x4 V8...love it, but the gas mileage is about 16 in mixed driving. The best I have gotten is 19 on a trip. I need a 4x4 with comfortable room for 5 for my business and long trips, but I want better gas mileage and have been considering selling to get something else.

My curiousity is what all of you think about gas mileage and the future costs of a Runner in that you just bought yours, or are about to. The future costs would include diminishing value, not just for normal depreciation, but that as gas prices rise, our more thirsty vehicles will most likely be harder to sell and be valued less.

I also must say that even though I am considering selling, I as yet haven't found a vehicle that can do what my 4Runner can do and also has good MPGS.

Thanks!

 

[MeddlingKids]

I have a 2003 4Runner SE 4x4 V8...love it, but the gas mileage is about 16 in mixed driving. The best I have gotten is 19 on a trip. I need a 4x4 with comfortable room for 5 for my business and long trips, but I want better gas mileage and have been considering selling to get something else.

My curiousity is what all of you think about gas mileage and the future costs of a Runner in that you just bought yours, or are about to. The future costs would include diminishing value, not just for normal depreciation, but that as gas prices rise, our more thirsty vehicles will most likely be harder to sell and be valued less.

I also must say that even though I am considering selling, I as yet haven't found a vehicle that can do what my 4Runner can do and also has good MPGS.

Thanks!

As you're probably well aware, Toyotas hold their value very well, and the 4-Runner is no exception. As gas prices climb, I'm not sure it's going to have a HUGE effect on those values. People will always need SUVs for various purposes, and will want one that has sufficient power to pull their boats, etc. I wouldn't worry about it too much. The alternative is to get a more fuel efficient vehicle which doesn't hold its value as well. You might pay the same in each instance, but you would probably enjoy your current vehicle a bit more than an underpowered Car-SUV.