Need to trade our 12 4runner - need some suggestions for vehicles?
- Thread starter aimcat
- Start date
Matteblack
Member
I would suggest a 2004-2006 Lexus RX330. Its my other vehicle ('04) with 95k. It has been the absolutely most reliable vehicle I've owned wich has included other Toyota and Lexus vehicles. That or like others have said and older 4runner! Good luck.
MB
MB
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Sisente
Member
I agree. An older runner can be acquired with little to no payment. 4Runners, if taken care of, are bullet proof.
tamerunner
New member
I have to second this big time. I didn't do enough research or have enough experience in buying a new car that when we did get the runner I got screwed on the financing side. On the good side I did refinance and lowered our payment by $130 a month and only changed the term by 6 months. Check into this. Rate Genius sent us the first letter and I called about it and our new loan is through a credit union in the state I live in. It was a definite win. If you are stuck on the idea with trading out, my family has always had great experience with Ford's. We have multiple trucks that were purchased new and have at least 100k on them with no major repairs at all. 2010 F150 98k on it and no problems, 2001 F150 240k no major problems, 1999 F250 Gas 175k no majors. So I wouldn't be to gun shy about the expedition myself, I would not go for the Navigator though. And as mentioned before I don't think you could go wrong with Honda Crosstour. No experience but my sister and husband were looking at those hard, just got an Outback instead. Let us know what you do and how it goes though.:cheers:
NuclearN8
New member
Buy less house, it's a larger financial commitment with larger and longer financial implications than a freaking vehicle payment.
This isn't about wanting to downsize your monthly vehicle payment (which you can admittadly afford), this is about you wanting to buy more house than you can comfortably afford all other thigns being equal.
For your sake, if you decide to buy the house, I hope you don't have to move for at least 15 years and the real estate market favors you when you do go sell, otherwise you thought negative equity in a vehicle was a bad feeling, yikes! Try being upside down on a house that you need to sell, that is really no fun!
For what its worth, I'd obviously keep the 4Runner.
This isn't about wanting to downsize your monthly vehicle payment (which you can admittadly afford), this is about you wanting to buy more house than you can comfortably afford all other thigns being equal.
For your sake, if you decide to buy the house, I hope you don't have to move for at least 15 years and the real estate market favors you when you do go sell, otherwise you thought negative equity in a vehicle was a bad feeling, yikes! Try being upside down on a house that you need to sell, that is really no fun!
For what its worth, I'd obviously keep the 4Runner.
kboxvegas
New member
Why don't you just refinance the 4Runner? If you extend your current term at or below your current interest rate, your monthly payment will drop. How much depends on how much you currently owe, the term, and the interest rate. If you want to share these, I can help you crunch the numbers.
If all else fails I would recommend a Forester, we have a 2014 and we are very happy with it. It is peppy and gets 32 MPG on the freeway. Has 8.9" of ground clearance to boot.
Whatever you decide, please do yourself a favor and don't buy anything that does not have great resell value (GM, Korean, Chrysler, and most Fords) or you will just continue to pour negative equity into the next loan.
If all else fails I would recommend a Forester, we have a 2014 and we are very happy with it. It is peppy and gets 32 MPG on the freeway. Has 8.9" of ground clearance to boot.
Whatever you decide, please do yourself a favor and don't buy anything that does not have great resell value (GM, Korean, Chrysler, and most Fords) or you will just continue to pour negative equity into the next loan.
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adoihcj
New member
There's a lot of great advice here. I mainly agree with refinancing for a longer term. It's a 4Runner and even though you may be in negative equity territory today, that will change. Used 4Runners go for top dollar and is your wisest investment over all of the other vehicles.
If you're dead set on getting rid of it, you'll regret it. I got rid of our 2010 4R because at the time, the fuel costs were killing my wife due to all of her traveling. Our situation changed and we were never happy with anything else we bought so we purchased the 2015 Limited. I'll keep it until the frame separates from the body. And I'd probably still keep it after that happens in 30 years.
If you're dead set on getting rid of it, you'll regret it. I got rid of our 2010 4R because at the time, the fuel costs were killing my wife due to all of her traveling. Our situation changed and we were never happy with anything else we bought so we purchased the 2015 Limited. I'll keep it until the frame separates from the body. And I'd probably still keep it after that happens in 30 years.
You might consider refinancing the loan to a longer term instead of replacing the vehichle.
hangman
New member
Yes, the Expedition and Navigator are garbage. You've already made the costly decision--when you buy a car, two things happen: 1) the vehicle depreciates as soon as you drive it off the lot and 2) the amortization schedule of any loan dictates that you will be paying more in interest (and less in principal) at the onset of the loan. In the long run, you will be paying more to switch to another car. Keep paying it down for a few more years--hell, if you can, throw some extra at the principal--and see where it gets you.
Alternatively, you can refinance the vehicle. Most credit unions offer amazingly low rates (mine was at 1.49%), which can reduce your monthly payment tremendously.
If you dump the 4Runner now, you're flushing away any payments that you've made on it. If it was one of the other vehicles on your list, I would say cut your losses and get out--but you are about to complicate a tough situation by throwing good money after bad.
hangman
New member
I dumped my '06 Tundra for the same reason and have never gotten over it. Similar to what the OP is considering, I got rid of a fantastic Toyota vehicle and got a Dodge. I absolutely hated the vehicle from the jump, and it always felt like I was just settling. Between the mechanical and electrical issues I had with the truck, not to mention some insurmountable design flaws, I always felt like I had made a bad decision. I hung onto it for 7 years and finally got a 4Runner. I couldn't be happier.
Jetboy
New member
I would concur with this. We have a late model rx350 and it's great. An older model can often be inexpensive and very reliable. If your commute is short and mgp isn't a big issue, a GX470 could be a good choice as well. They are often pretty cheap used.
The other hidden gem IMO is the subaru forester. They are pretty roomy and can be found pretty cheap for a subaru. They're kinda ugly, in a way, but I'd drive one.
Americas High Five
New member
Slightly off topic and you didn't ask but I will share my thoughts anyways (because its the internet and I can :ranger
I am not a mortgage expert or financial adviser by any means but typically when applying for a mortgage you should not apply for new credit in the 6-12 months leading up to your mortgage application - I am assuming your trying to reduce your debt to income ratio however applying for new auto loans months prior to your mortgage application may do more harm then good and if you have already been approved could cause your mortgage application to get denied at closing as the bank typically runs your credit again prior to closing; having new loans and lines of credit pop up is a big red flag to the underwriter.
RockyMountainT4R
New member
Smart? We have bought and sold several homes. We have also owned vehicles from all the manufacturers you listed. On the surface, your decision to get rid of your 4Runner appears to be a poor one financially. I agree with the other posters who suggest you keep it.
Based on your posts, it may be that you are trying to compensate for some other financial decision(s). If not, trading in a known, loaded, reliable vehicle that you say you "love" and meets all your criteria for something less(all the vehicles on your list), when you imply you can afford your 4Runner, appears to be an emotional not logical/need decision. From my family's experience and those of other people here, buyer's remorse will be the result. ;-)
Engineer
New member
Not to beat a dead horse but I agree with the above posts that mention this is likely not a good idea. IF you are doing a huge change from say a 30k 4runner to a 5k used car paid in cash the transaction is potentially worthwhile (making allot of assumptions here and If you don’t do you own car work that is a ding against owning an old car). If simply trading out for something 0-10k cheaper the transaction costs are going to kill most if any of the savings you are trying to gain by doing so.
I try my best not to make judgments about people without knowing all the details and certainly not over the internet but if you are really concerned with the ~$150 a month in savings then either you are being overly conservative or things really are tighter then they should be and other things such as cell phones, food bills, cable , un needed shopping etc should be strongly considered along with the vehicle swap.
General Rant (not about the OP) but one of the single best gifts my parents taught me was the value of money and a high level of how to manage it. Any new employees I meet I strongly encourage to max out savings(401/IRA) or “save until it hurts” because if you start off saving a large % of your salary you never miss it and then continue to save a % of annual raises etc and before you know it you have to reduce contributions to tax deferred retirement accounts because you are over limits and that is a good feeling! I understand most are not in a situation to do so and truly struggle to make ends meet and provide for their families and I sympathize with that but poor financial decisions are a curse to both the wealthy and the poor. Unfortunately a 10k mistake it a lot more costly to a family of 4 on 40k then a family of 3 on 100k (random numbers here).
Back on Topic: OP make sure you really NEED AAWD/4WD vs. a front wheel drive Accord with snow tires etc. If you do needs AWD I would consider a Subaru as mentioned earlier and if you stay off the “in demand” used models such as the forester you can potentially get a fairly good deal over new.
Ps Hats off to you for thinking about this and realizing there may be room to cut some spending! :cheers:
I try my best not to make judgments about people without knowing all the details and certainly not over the internet but if you are really concerned with the ~$150 a month in savings then either you are being overly conservative or things really are tighter then they should be and other things such as cell phones, food bills, cable , un needed shopping etc should be strongly considered along with the vehicle swap.
General Rant (not about the OP) but one of the single best gifts my parents taught me was the value of money and a high level of how to manage it. Any new employees I meet I strongly encourage to max out savings(401/IRA) or “save until it hurts” because if you start off saving a large % of your salary you never miss it and then continue to save a % of annual raises etc and before you know it you have to reduce contributions to tax deferred retirement accounts because you are over limits and that is a good feeling! I understand most are not in a situation to do so and truly struggle to make ends meet and provide for their families and I sympathize with that but poor financial decisions are a curse to both the wealthy and the poor. Unfortunately a 10k mistake it a lot more costly to a family of 4 on 40k then a family of 3 on 100k (random numbers here).
Back on Topic: OP make sure you really NEED AAWD/4WD vs. a front wheel drive Accord with snow tires etc. If you do needs AWD I would consider a Subaru as mentioned earlier and if you stay off the “in demand” used models such as the forester you can potentially get a fairly good deal over new.
Ps Hats off to you for thinking about this and realizing there may be room to cut some spending! :cheers:
philsey
New member
My vote out of the mostly-crap list you posted is the Honda CT. (I can hear the groans out there).
Why? First, it is a damned good vehicle. It has good utility, is 4WD (in Honda-speak anyway), and highly reliable. It's just a 5-door Accord. But it is not popular - and is in fact, discontinued after MY '15 due to poor sales.
Second (my assumption) is that given the above it should be the benefactor of low prices. Disclaimer: I assume this, don't know pricing for a fact.
Why? First, it is a damned good vehicle. It has good utility, is 4WD (in Honda-speak anyway), and highly reliable. It's just a 5-door Accord. But it is not popular - and is in fact, discontinued after MY '15 due to poor sales.
Second (my assumption) is that given the above it should be the benefactor of low prices. Disclaimer: I assume this, don't know pricing for a fact.
Martinjmpr
New member
OP: To be honest, I don't think you've given us enough information.
Are you upside down on the 4runner? How much do you owe on the 4runner now (approx?)
Without knowing that it's hard to give advice. :shrug:
4runner values are crazy high. Selling a 4runner could be a good move if you're not upside down on it but be warned, with used car values staying high, you may not be able to do as well in the long run by selling as you would by just holding what you have.
Selling a 4runner now if you owe more than it's worth would, IMO, be pointless because not only would you deprive yourself of an asset that is valuable, but you would end up with more debt (and no car!) as a result.
If you are upside down on the 4runner now, then I would find a way to fix that FIRST. Cut back in other areas but get that principle down to the point where it's below the market value of the 4runner and keep it there. That will give you the option of selling if that's the way you want to go.
Are you upside down on the 4runner? How much do you owe on the 4runner now (approx?)
Without knowing that it's hard to give advice. :shrug:
4runner values are crazy high. Selling a 4runner could be a good move if you're not upside down on it but be warned, with used car values staying high, you may not be able to do as well in the long run by selling as you would by just holding what you have.
Selling a 4runner now if you owe more than it's worth would, IMO, be pointless because not only would you deprive yourself of an asset that is valuable, but you would end up with more debt (and no car!) as a result.
If you are upside down on the 4runner now, then I would find a way to fix that FIRST. Cut back in other areas but get that principle down to the point where it's below the market value of the 4runner and keep it there. That will give you the option of selling if that's the way you want to go.
I would suggest like everyone else is to get an older 4Runner or even refinance. Also i would recommended a 1999-2001 Jeep Cherokee with the Inline 6, not the grand. I and 92 and 2001 and never had an issue with them.
Blitzkrieg
New member
If you have to sell your vehicle in order to buy a bigger house you are living beyond your means. Period.
Where do you think the negative equity in your 4Runner is going to go, just magically disappear? No. You will overpay for a cheaper, more worn out vehicle in order to lower your monthly payments but in the end you will actually end up spending more. You own that negative equity. A dealer is not going to give it back to you out of the goodness of their heart.
If you buy a car around the monthly payments, you are doing it completely backwards.
Sorry. I cannot help you because you are missing the basic rules of financing, spending and not living beyond your means. And most of what you listed is there for a reason - because they are cheap used. There is a reason why. ;-)
Where do you think the negative equity in your 4Runner is going to go, just magically disappear? No. You will overpay for a cheaper, more worn out vehicle in order to lower your monthly payments but in the end you will actually end up spending more. You own that negative equity. A dealer is not going to give it back to you out of the goodness of their heart.
If you buy a car around the monthly payments, you are doing it completely backwards.
Sorry. I cannot help you because you are missing the basic rules of financing, spending and not living beyond your means. And most of what you listed is there for a reason - because they are cheap used. There is a reason why. ;-)
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