Is it a good time to trade in my 4runner?

[Black4runner]

I have a 2007 2wd SR5 4runner with leather. The stocker was around 31k and I bought it new for about 24k out the door. I owe about $9000 on it and Kelly blue book says that in Good condition it is worth $19225 and $20300 for Excellent.

If I buy a new car, I will only buy one that I can get at least $6k off MSRP since now I know that dealers can easily do this (at least for a 31k car).

I was planning on paying it off in about 24 months and just keeping it. The only thing I wish it had was 4wd.

So If I buy a new $33k vehicle and get it for say $27k. Then I can knock that down by about $10k (difference between trade in value and what we owe) bringing the amount financed to about $17k which is less than the $22k I financed originally. I would have lower payments and a new automobile.

 

[MikesToy]

Go ahead and do it. Before you do it, can i swap my pinkish taillights for your LED ones?

 

[Black4runner]

I just don't know if say I pay it off in 2 years and my mileage goes up to 71k what my payoff would be then. I guess I could run kelly blue book on a 2005 with 71k.

 

[Black4runner]

Just ran KBB on a 05 with 72k. $13,900 would be the trade in so I guess it would be better to wait since the difference between payoff and value now is a bit over $9k.

Also since the 5th gen is new, the dealer might not be willing to knock off 6k.

 

[MikesToy]

Most dealerships will carry over your balance to your new loan. Nothing is for FREE nowadays.

 

[Black4runner]

Most dealerships will carry over your balance to your new loan. Nothing is for FREE nowadays.

Yeah and I think they charge you a higher interest rate also for doing this.

 

[VNT]

pay it off and then try to sell it yourself, you will get more $. 2WD is still a very capable vehicle, unless you do some hardcore off-roading....

 

[Black4runner]

pay it off and then try to sell it yourself, you will get more $. 2WD is still a very capable vehicle, unless you do some hardcore off-roading....

No hardcore offroading but my philosophy is that it is better to have 4wd and not need it than to not have 4wd and need it. I never have gotten stuck but wish I had it on 2 occasions when it was snowing.

 

[004Gunner]

Not having a car payment is really nice. At least wait until payoff so you can actually enjoy your hard work.

 

[Ridger]

I thought the whole philosophy on these 4Runners was to buy it and drive it forever as once paid off, your payment free plus it still has years of low-maintenance cost life and still drives nearly as good as new vehicles? Seems trading it in would defeat some of that purpose and hard earned money spent in payments.

My recommendation is to keep it for another 6-7 years and you’ll have 4-5 years of payment free driving pleasure with very low maintenance costs.

But to each their own. You might prefer to simply have a new vehicle or a different model...etc. It's whatever is worth more to you.

 

[Barefoot]

Not sure about the rules in Ga, but don't forget to include taxes on the new car in your calculations

 

[MikesToy]

I thought the whole philosophy on these 4Runners was to buy it and drive it forever as once paid off, your payment free plus it still has years of low-maintenance cost life and still drives nearly as good as new vehicles? Seems trading it in would defeat some of that purpose and hard earned money spent in payments.

My recommendation is to keep it for another 6-7 years and you’ll have 4-5 years of payment free driving pleasure with very low maintenance costs.

But to each their own. You might prefer to simply have a new vehicle or a different model...etc. It's whatever is worth more to you.

Those type of people need to just lease a vehicle if they want to drive something new all the time. Again, to each own.

 

[Black4runner]

Not sure about the rules in Ga, but don't forget to include taxes on the new car in your calculations

I think you pay tax on the difference between the price sold and the trade in value.

 

[Black4runner]

Not having a car payment is really nice. At least wait until payoff so you can actually enjoy your hard work.

That is a nice feeling. I paid off our Mazda over 2 years ago

The plan I have had was to wait until the 4runner is paid (2 years) and my a new SUV or a truck such as a Tacoma or F150. The old lady would continue to drive the 4runner.

Having 2 auto payments sucks. One is all I ever want.

 

[JohnsD90]

Not having a car payment is really nice. At least wait until payoff so you can actually enjoy your hard work.

I agree, I've never had a car payment as the 4runner is my first car and i paid in full, i've never seen the reason to trade a perfectly good car that i like in for a newer version which is basically another basic interior, the 5th gen is most certainly nicer than the 4th gen, but for another $10k of payments? It's not like your car is breaking or is some ugly 80's body style or anything, drive it into the ground, and use that extra payment per month and reinvest it into the house or something other than a depreciable asset, unless you wanna mod it.

 

[T?@\7]

the best time to trade a 4runner is when its paid off and you have $30k+ to buy another one, WITHOUT PAYMENTS. if there are payments involved, then dont trade it. If I didnt crash my 05 I would still have it, no need for trading....and payments. the american scream

****ins

 

[MikesToy]

I'mma trade in my 4Runner whenever it's running on it's last leg (consumes 1 qt of oil every week, tranny clunks on every shift out of P, black smoke comes out of exhaust, loss compression, headliner falling down, every bolt is rusted out that it'll break if you try to take it out, etc.). :lmao: But that prolly won't happen 'til the next decade or two.

 

[Tilo]

Why buy 2WD in the first place?

I honestly don't even know why you'd purchase an off-road vehicle, especially the 4Runner with 2WD option. The name speaks for itself, 4Runner, not a 2Runner... Toyota shouldn't even make that option available on the 4Runner like that on the Land Cruiser despite marketing efforts to sell it for a cheaper price to meet a larger crowd of interested buyers. The option in itself impairs the historical integrity of this magnificent piece of art. I'd trade that for a 4WD 4Runner without even thinking twice. You must for give me if you think Im being rude, i'm not trying to be. I just think that if someone is already getting a truck than it might as well be a 4WD especially if its the 4Runner.