Thinking of trading my '11 TE for '14 TE

[Btm02144]

I bought my 2011 3 years ago this month, and love it. It has around 50k miles on it. Received an email from the dealer I bought it from asking if I wanted to upgrade to a '14 TE and for a lower monthly payment no less. The '14 has all the stuff my '11 has, plus Entune Premium. The deal breaks down as follows - sell price of '14 = $34.6k after "special" discount He's estimating $24k for my '11/trade, which I owe $11k on, so I'd be financing $22k and change (incl fees, etc). 2.9% for 60 months would put me around $400/month, $60/mo less than I am paying now. '11 will need tires and brakes soon, is this a deal too good to pass on?

 

[Bay33saw]

Sounds good to me, ask him for a breakdown of the deal on paper and see if there are any extras thrown in you didn't know about..

 

[garrett1478]

the eternal car payment... jump on it! come back and post again in 2017.

at least shop around on the loan. you should be able to get less than 2.9%...

 

[Sac State]

I believe Toyota is offering 0% right now for 60mos. on 4Runners through 6/2/2014.
This might just be SET though.

Check your local banks, credit unions, that APR seems kinda high right now. Dealerships make $$ off of your APR rate too.

 

[Sac State]

the eternal car payment... jump on it! come back and post again in 2017.

at least shop around on the loan. you should be able to get less than 2.9%...

Amen, might as well lease if under 12,000 miles/year. Toyota's dream consumer world.

 

[Matteblack]

I bought my 2011 3 years ago this month, and love it. It has around 50k miles on it. Received an email from the dealer I bought it from asking if I wanted to upgrade to a '14 TE and for a lower monthly payment no less. The '14 has all the stuff my '11 has, plus Entune Premium. The deal breaks down as follows - sell price of '14 = $34.6k after "special" discount He's estimating $24k for my '11/trade, which I owe $11k on, so I'd be financing $22k and change (incl fees, etc). 2.9% for 60 months would put me around $400/month, $60/mo less than I am paying now. '11 will need tires and brakes soon, is this a deal too good to pass on?

Personally, If I still loved my ride and only owed 11k, I'd continue to pay until paid off and own for a while. However, I certainly understand the allure. If you love the '14 even more than go for it. :driving:
MB

 

[Stifler]

my take is the "Special" discount is them boning you on trade. I was offered $24k for my 2011 SR5 w/62k miles on it... that was this past weekend. I would say the 14 price is good to go but you want $26k for your trade and 2.9% on a new loan sucks ass. Anything over 2% is just you getting piped laid to ya

 

[sandcrawler]

i've been seeing tv ads for special 4Runner financing—rare phenomenon, so it's hard not to notice. you should be able to do better than 2.9%/60 mo in the Boston area. tell that dealer to sharpen his pencil!

 

[scott78945]

I am in the same boat. Looking to trade up my 2011 SR5 for either a Trail Premium or Limited. Still owe $8K on it but looking to get $24K for trade. I love all the new bells and whistles...in NY its 0% for 36, .9% for 48, or 1.9% for 60. Trying to find a Trail Premium with KDSS here is NUTS. I have to go to PA or MD to find one...road trip! I don't even have 30K miles on my Runner...guess I should be looking for more on my trade then.

 

[Btm02144]

THanks

thanks for the feedback folks!

 

[4runner-NTX]

I just got 1.9% for 60 months from TFS for a 2014 TE. Almost free money.

 

[JayceeP]

The interest rate is irrelevant as far as I'm concerned. Compare cash (even if it means using a line of credit or a loan from the bank) vs finance @ the dealership. The interest rate is just a sales tool.

 

[axxman]

I bought my 2011 3 years ago this month, and love it. It has around 50k miles on it. Received an email from the dealer I bought it from asking if I wanted to upgrade to a '14 TE and for a lower monthly payment no less. The '14 has all the stuff my '11 has, plus Entune Premium. The deal breaks down as follows - sell price of '14 = $34.6k after "special" discount He's estimating $24k for my '11/trade, which I owe $11k on, so I'd be financing $22k and change (incl fees, etc). 2.9% for 60 months would put me around $400/month, $60/mo less than I am paying now. '11 will need tires and brakes soon, is this a deal too good to pass on?

I agree, don't worry about the rate, I would try to get the trade in up 1-2k more and I would probably jump at it. I have an 11 SR5 as well, last summer I was offered around 30, but my mileage is only 21000, I really wanted a trail myself. but it was just a little bit out of my price range and harder to find one in the color I wanted. good luck either way you are driving a 4runner.

 

[Lineman]

I bought my 2011 3 years ago this month, and love it. It has around 50k miles on it. Received an email from the dealer I bought it from asking if I wanted to upgrade to a '14 TE and for a lower monthly payment no less. The '14 has all the stuff my '11 has, plus Entune Premium. The deal breaks down as follows - sell price of '14 = $34.6k after "special" discount He's estimating $24k for my '11/trade, which I owe $11k on, so I'd be financing $22k and change (incl fees, etc). 2.9% for 60 months would put me around $400/month, $60/mo less than I am paying now. '11 will need tires and brakes soon, is this a deal too good to pass on?

I was going to say rich guys problems, going from a 2011 - 2014. But then I saw your were financing :shrug:

If you love your current 2011 and yes vehicles do need tires and brakes sometimes, lol. Keep it. But we as a country love to finance cars and need immediate gratification.

Yes, deal can be passed on!

 

[camp406]

I just bought a trail a month ago, the dealership offered 0% on 60m and 1.9% on 72m. I still went with my credit Union which also offered 0% for easy banking. I'd definitely shop around. Good luck. This is my first 4 runner so I have nothing to compare it to but I am really liking the truck and the premium was worth the extra coin IMO.

 

[SurferRob]

Do it. I just did the same thing this past weekend and am really glad I did. I am now questioning myself on the percentage rate I got, I think I could have gotten an even better deal now.

Just for reference, I traded my 2011 SR5 for a 2014 SR5 Premium. My 2011 had cloth seats, 4WD, moonroof with 72k miles, excellent condition, and I got 24k on the trade in which, from some quick looking around I did was fair for both parties. I wasn't sure how they would make money, but now, I think I know, on the APR. My payments are actually less on the new car and I have a ton of new features.

Good luck!

 

[Btm02144]

The new one they're proposing doesn't have a moonroof

 

[JDSmith]

Hey man, i won't get into all the $ issues... I had an 11TE and just picked up a 14TP with the KDSS, ordered the truck the way I wanted it. AWESOME!!! Love it man, haven't looked back. So I guess if you really want the new one, you really won't be dissapointed.

 

[FoxPhoto]

I was in the same position with my SR5. It needed brakes and some other small maintenance things. Due to all the equity my monthly payment went down as well. Do it!!!

 

[chmura]

Trading in a car because the brakes need to be changed, really? You know the pads cost $60 bucks at the dealer and it literally takes loosening 2 bolts to replace the pads and some big channel lock pliers to push the piston in. You can easily do it yourself.

This thread reminds me of my long lost friend that he justified getting rid of his car because his car payment was coming up and was low on gas! So he traded his lease in for a new one!