Hello Mr Kilmer, I’ve come for your advice
I have a 2016 4x4 Tacoma that I bought at the beginning of the pandemic for $19,000. It’s been a great truck and I’ve enjoyed it so far, however I’ve been watching your videos recently and saw that vehicle prices, especially Toyotas, have gone up a lot. My car has 60k miles on it right now and in my area I’m seeing some with twice as many miles sell for $30,000. Should I consider selling my truck and buying an older tundra or something similar? I loved the old tundras with the less electrical components, however on the other hand I have a great low mileage Toyota truck in the garage so maybe I shouldn’t get greedy? Any thoughts or suggestions?
Thanks for taking the time to read this, I love your videos
Have you had it evaluated already? What is the highest you got offered for it?
One of those online car vendor companies offered 32 and several offered around 25-26. Seen some similar to mine on Facebook marketplace listed for like 36 which I think is ridiculous but I guess that’s how expensive these things are now. Mines pretty much got all the options, sunroof heated seats long bed double cab. Just hit 60,000 miles and all the maintenance records/oil changes are filed. It’s a great truck and I like the idea of having it long term and reliable, but I’m also looking at those $$$ and it’s enticing
Always helpful guys, thanks for the advice. This truck is great and I think I’ll consider keeping it, no need to get greedy when I have a great paid off truck. Plus honestly I’d feel bad if some sucker overpaid for this thing anyway if I tried to sell it. These car prices need to go down, there’s no way you can get ahead these days if a used work truck is valued at like 10% less than it was brand new. I’m definitely glad to be in the position I’m in
You’re on a slippery slope with this one.
Before you start considering the offers seriously, start looking for a suitable replacement.
You don’t want to end up with an old overpriced replacement which will lose 50% of its value after the bubble bursts & then you're back to square one. Only this time you’re with a 10-15 yr old truck needing age related work.
Think it over..
If you do indeed find a well priced, great condition replacement, go right ahead with the trade.
All the best!
If that’s what you are thinking of, then no. Full sizers are as overpriced or more so than mid size trucks. By relative value, you don’t gain anything by selling what you have and buying something else right now. (Unless of course you buy a specific truck that you want more.) If you have a good truck and you like it, you should keep it.
My wife and I are thinking about a different approach: sell my car now at the top of the market, share her car for a while, and then buy something when the market corrects (crashes?) later. You know, buy low sell high. But the risk is that values keep going up; I don’t think they will but nobody knows the future.
The problem with selling high is that you're right back in the position of buying high. My 1981 Toyota 4x4 long bed pick up is selling for more than it originally sold for when it was new, $9000, and that was 40 years ago. I would have to spend between $30k and $50k to replace it. NOT! Besides, I don't want or need all the electronic junk they put on vehicles today that just turn into major headaches down the road.
If you need the money. Sell the truck. If you need the truck, keep the truck.
Good way to look at it
I wouldn’t unless you have a backup vehicle already. Everyone is on the hype train to sell used cars at as high as they can. Your friendly neighbor would rather sell their car to a lot than to you for better cash, too.
