Optimum time to trade in for another 4Runner?

[CO-Cygnus]

There is a reason but I'm going to get into it here. Let's just leave it at I was able to, needed to and did. ;-)

Not having that $400-700/ month payment looming in your budget can be nice for peace of mind.

 

[Blitzkrieg]

Not having that $400-700/ month payment looming in your budget can be nice for peace of mind.

Yeah. I don't like debt so tend to pay cash for my vehicles. I liked the cheap interest I had but after 9 months of writing out that $560 check I said "I'm out". I could drive off into the sunset tomorrow and I don't have to let Toyota Motor Credit (or anybody else) know a thing. ;-)

 

[FrontRange4Runner]

6th gen is coming up. Wait and see what it holds before making any trade in decisions.

 

[Blitzkrieg]

6th gen is coming up. Wait and see what it holds before making any trade in decisions.

You know the best vehicles are always the ones made at the end of the production run, right?

I'm not saying Toyota is as flawed as most manufacturers there, but I never, ever by a first year vehicle (ergo not a guinea pig).

 

[NuclearN8]

Yeah. I don't like debt so tend to pay cash for my vehicles. I liked the cheap interest I had but after 9 months of writing out that $560 check I said "I'm out". I could drive off into the sunset tomorrow and I don't have to let Toyota Motor Credit (or anybody else) know a thing. ;-)

spoken like a true doomsday prepper.. haha... seriously though.. if the world does come to an end after this election cycle, the banks are not going to come looking for our 4Runners (or whatever else you have in the garage)... we can ride off into the sunset either way... however, I agree giving less money away for no reason (interest) is a good way to live if at all possible. Good on ya!

 

[jspagna1]

You know the best vehicles are always the ones made at the end of the production run, right?

I'm not saying Toyota is as flawed as most manufacturers there, but I never, ever by a first year vehicle (ergo not a guinea pig).

Your right on both points. That's why I bought a 97 and then a 11.

 

[jspagna1]

Back to the OP's concern. No worries brother. Bought my 97 brand new and only thing ever replaced was the rear chrome bumper which they were always notorious for rusting out. Had that truck for 16 years and my daughter drove it for a couple then I bought my 11 SR5.

Always clean and paint the bottoms of ALL my vehicles as I keep mine till the wheels fall off. Here is how my 97 looking when I gave it to my brother in law with 170,000 miles.
Hopefully the 11 was built just as well!!!!!

 

[FrontRange4Runner]

You know the best vehicles are always the ones made at the end of the production run, right?

I'm not saying Toyota is as flawed as most manufacturers there, but I never, ever by a first year vehicle (ergo not a guinea pig).

Sure do, and I did not say anything about buying one of the first ones off the production line. I simply advised him to wait and see if the new specs are better. If he doesn't like the 6th then just buy one of the last 5th gens. I don't want to be a guinea pig either, but it's not like there are tons of issues with the 10' model year that other years did not have.

 

[Victor_inox]

Some people will replace perfectly fine vehicles even if it doesn`t make any sense. I drive mine very little, maybe 7 thousands a year, my 2012 has 34 on it right now.
It`s paid off and cost me close to nothing to operate.
Say I`m looking for a reason to buy a new one?
what that would be?

 

[jspagna1]

Some people will replace perfectly fine vehicles even if it doesn`t make any sense. I drive mine very little, maybe 7 thousands a year, my 2012 has 34 on it right now.
It`s paid off and cost me close to nothing to operate.
Say I`m looking for a reason to buy a new one?
what that would be?

Wow that is awesome! I thought I was doing good with my 11 with 45,500.
And you are absolutely right, why buy a new one. These trucks last as long as you take care of them.

 

[jrandom]

You should do whatever you think is best for you, your family, and your financial. Are you going to have a young driver in 5-10 years that you want to give a good reliable older vehicle too, instead of buying a used possibly money pit?

I don't understand paying off a vehicle in 9 months when its so easy to get financing <2% and yours was "basically free"

Mmmmn not really, not in this day and age. 6 year CD's are only at 2.28%. Most "High yield checking" is at 0.55%. 9 years ago is a totally different story when 1 year CD's where making 5.2% and 6 year were making over 7%.

I paid mine off in three weeks.

Even 1.5% on $35,000 is $1,300 in interest over 5 years and who likes paying interest?

Exactly that is money you are going to recoup, right now. Not in 3-6 years.

for what it's worth,

I'm in a rusty, salty, corrosive area....

Every year I do a bit of work under the truck cleaning up with surface rust, applying fluid film, and POR15 where required. I've managed to keep 10-year-old vehicles very tidy this way.

The underside of my vehicles is jet black and clean. Cleaner than the new GMC trucks at a local dealership.

Lol I do the same, I spend a little time cleaning the undercarriage. When it snows in the winter I go weekly just to clean off the crap. When I rotate the tires I spend 5 minutes cleaning around while the wheel is off. I get it pretty dirty too, I took it in to get some warranty work on it and one of the dealership shop guys was giving me sh!t "Do you even take it out?", I told him I was a mall crawler

 

[Beaumont67]

Very interesting thread, great opinions from all !!

You know the best vehicles are always the ones made at the end of the production run, right?.........

^^ Sometimes it is / case in point:
Our son needed a new 2015 Lexus RX350 for work related business.
- just so happened / when he started thinking of trading up (his 2008 Nissan Rogue), the timing was only one month before the 2016 redesigned models hit the dealership showroom floors
- so we waited a full month, and went into serious purchasing negotiations
Got a brand new 2015 at 13.3% off MSRP and the 2016 list price was up another 7% / effectively he saved 20%, with the 2015 and liked the older styling, much better.

OP - I think the new 4Runner may be a better choice, mainly due to your kids & their friends / so 3rd row seating is a big plus now. Plus a new vehicle with warranty, gets one not needing any maintenance expenses:
- new brakes
- new tires
- new fluids, etc.
Cost of maintenance on an aging vehicle, can add up / even doing regular maintenance.

I'm in a rust belt too, and wife currently drives a rust free 2008 RAV4 Limited v6 while my ride is a mint 2000 4Runner SR5 v6 / both low mileage.
- my vehicles get wax-oil undercoat sprayed, annually in the fall
My old T4R will be on the road, another 15 years or more / if it doesn't get into a collision.
Sure California vehicles are near the top on demand, in the food chain / but Northern ones subject to harsh road salt, can have their longevity extended 2-3 fold, with regular Fluid Film type spray products.

PS - I'm from Ontario, Canada and our HST tax rate is a disheartening 13% added onto new vehicle purchase price / so I always buy used and learn how to make them last potentially decades...but still enjoy the new buying discussion here.

 

[e60ral]

You should do whatever you think is best for you, your family, and your financial. Are you going to have a young driver in 5-10 years that you want to give a good reliable older vehicle too, instead of buying a used possibly money pit?



Mmmmn not really, not in this day and age. 6 year CD's are only at 2.28%. Most "High yield checking" is at 0.55%. 9 years ago is a totally different story when 1 year CD's where making 5.2% and 6 year were making over 7%.


Exactly that is money you are going to recoup, right now. Not in 3-6 years.



Lol I do the same, I spend a little time cleaning the undercarriage. When it snows in the winter I go weekly just to clean off the crap. When I rotate the tires I spend 5 minutes cleaning around while the wheel is off. I get it pretty dirty too, I took it in to get some warranty work on it and one of the dealership shop guys was giving me sh!t "Do you even take it out?", I told him I was a mall crawler

1% checking accounts are back, it will probably be an online bank but they exist again

And while you can absolutely beat 1.5% with a CD as you posted (2.28% is > 1.5, although my bank is only offering about 2%) , my point was that if you have 1.5% financing even just camping your money in a high yield checking will allow you to have access to that cash in an emergency and will cost you just a few hundred dollars in financing for the flexibility of having cash on hand of something tragic happened.

The people who disagree may have more liquid assets on hand than I do, or may be less responsible with money, but if you are able to control your spending and have good financing (like the 1.5% I responded to) let your money work for you.

Maybe I'm just too risk averse or spent too long being poor, but I'm not willing to give up cash (or more specifically the freedom and options it gives you) if someone else wants to give it to me at almost 0% rates

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[jwatson]

A lot of great points in here. I tend to agree with the 2-4 years idea, I have a plan through work where I get a new vehicle every 2-3 years, which is a great amount of time to have a car. Obviously, the sooner you sell the more it will be worth. I saw some piece on CNBC or the like on how many farmers will sell their tractors for the new model every year because of the high prices for both a new fleet and resale value stays high. Not really sure if that's applicable but just though of it reading this thread.

 

[crankycodger]

I really think the answer is, it varies. There's no set rule IMO, and I say this as a former dealer. I traded a 2008 Chevy truck on a new 2015 GMC truck and thought I got a pretty good deal. But conversely, I just traded the 2015 GMC on my new 4Runner a couple weeks ago and got a good deal there as well.

So much depends on the mood of the particular dealer you wind up with when you're ready to trade. Your best bet is to know your facts, shop around and negotiate hard at the time you think you're ready for a new truck.

 

[jrandom]

my point was that if you have 1.5% financing even just camping your money in a high yield checking will allow you to have access to that cash in an emergency and will cost you just a few hundred dollars in financing for the flexibility of having cash on hand of something tragic happened.

Sure I think everyone understands what you are getting at.

The advantage, the car payment, instead of cash going out every month, it is going in, so really you are only in the "fiscal danger" zone for a very short time. Worst case scenario you can get a loan or low interest lien against the truck.

0% financing sure that's worth considering.

It is still nice to be free and clear (I am not there yet, ahead of schedule yes but not paid for)

 

[e60ral]

Using your vehicle to secure a loan is a lot harder than you think, I tried to do that for some cash for tuition and couldn't get a bank to do it despite me wanting a lot less than my vehicle was worth

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[1engineer]

You guys are forgetting the 4runner is a want... not a need. It is not basic transportation nor is it really efficient nor anything really. So if it's not a need then who really cares? Obviously most of us can afford one so the only question is how much are you willing to lose every few years. If you can afford a new one every year then go for it. If you want to keep it for 15 years that's fine too.

Remember that buying a vehicle such as the 4runner is a frivolous expense so any talk of saving money and the 4runner should not be mentioned in the same sentence.

 

[jrandom]

Remember that buying a vehicle such as the 4runner is a frivolous expense so any talk of saving money and the 4runner should not be mentioned in the same sentence.

Lol screw you and your voice of reason!

4Runner owners are a varied bunch, that's for sure

 

[jamoc]

29k for a used 2013 4runner is a lot of moolah! Trade in or sell, and upgrade. Whats the worst that could happen?