Trade in?!

Wanna hear 4 runner experts opinion! Budget been little tight lately and trying to cut me some slack, paying $767/mo on my 2024 4 runner sr5 4x4, dealership emailed me trying to lure me to trading it in for a 2025 tacoma sr5 4x4 for 500/mo, really caught my attention knowing I can save some money but I REALLY LOVE the 5th gen 4 runner specially it is already built the way I want it (3rd row BFG ko3 tires, trd wheels, lift, underground color, skid plate) basically perfect for me, but again right now that I am gonna go back to school I am trying to save as much as I can, but at the same time I think I will regret if I let this beast go. Any advice??

 

If a salesman is offering the terms then it is 100% likely it benefits him more than you. salesmen live on people who shop by month payment and not OTD price and interest rate.

In short don't do it.

 

I am so guilty of the by month payment but yeah, you are right... I think what I am actually wondering is that is the 25 tacoma inch closer on the 24 4 runner? Will it be that bad to switch? Appreciate the response!

 

If I was in your situation I would dump it. There is no way I would have a vehicle that was causing me any financial struggles or close to it.

it doesn’t matter how much I loved it. Me having financial peace is more important and I would be looking for something cheaper even if it was not a truck of some kind.

 

Well to start with $767 mo. is too high, financing is good, but it can be addictive and not good to you. Can you refinance the 4Runner some how to get close to that $500 mo. mark? FourBelugas is right, salesmen/women don't come to you with deals that benefit you, it's all about padding their pockets. While everybody has a job to do (at least most do) to survive, don't think that the sales staff at a dealership won't take you for a "ride"! Refinance your 4Runner, either longer term, less interest (supposedly that's coming down), or different lender that's willing to work with you. Good luck.

 

@San Angelo appreciate you being straight forward! it’s just me trying to save me some $ basically, not quite in financial distress but just the idea of saving $267/mo lol but I appreciate the advice!

 

100% on the refi or get rid of the payment totally. And 100 on the stealership only benefiting themselves and not you. The Taco doesn't even need to be a thought unless you NEED a truck bed.

 

500 a month but for how long? How long is your current loan term and interest rate? Are you having positive equity or under water on your current rig?

25 Taco SR5 4wd are being advertised in my area for under 40k right now with 3-5k on the hood so there are a couple of variables in the equation but if that 500 is a long duration loan then you are gonna get hosed on the deal.

I can't speak for everyone's financial situation so that is entirely up to you, but this deal stinks from where I sit.

 

@Toy4X4 I will definitely look into that! Hopefully I can get favorable terms, as far as the vehicle like it’s almost like it was specifically made for me, everything I wanted except the payment lol but I really see myself keeping it when I first took it off the lot, and now decided to go back to school made me have 2nd thoughts

 

if your trying to find ways to save $267 you are having financial stress. I was only using that term because I was trying to avoid saying you can’t afford it. Having that high of a car payment is never good and will keep you from accumulating wealth that will allow you to afford it at a different time.

it seems like you know this but just don’t to want to admit it yet.

 

@San Angelo this somehow hurts but I know deep its the truth!!!! Again thank you, I am definitely reevaluate my priorities, you a real one!

 

@mattdc.032 This is your Dave Ramsey moment. Lol

 

@Steely123 never been in this situation before, wdym by just get rid? Like have it repo?

 

On the real though. If you REALLY do like the 4R, and probably need a vehicle for daily driving like the rest of us. Then just buy an older less expensive 5th gen. It's the same truck.

 

Not repo, sell.

 

@Steely123 I think that's what I should've done at the first place but got baited and let my self get baited, seeing that vehicle on the lot shiny and all set up made me a fool.... but again I REALLY LOVE this whip, but yeah, all of you guys are right, I will start looking at selling, will get appraisal maybe carmax to begin with and same time check refinance

 

Not sure how old you are but pay yourself first. Max out your 401k contributions and buy a Roth IRA every year. Check back here in 20 years and say dang look what I accumulated. That’s some of the best advice I ever got and keep cars 20 plus years. It takes dedication and commitment but it works.

 

@mac1usa willing to make that sacrifice! Glad I shared my situation here, too bad I might be leaving soon

 

You can still hang out, even if you sell your 4Runner.

Lots of good advice in here.

Developing good financial habits when you're young will benefit you greatly when you get older. Take it from someone who has taken the opposite approach and probably won't ever be able to retire.

 

Like others have mentioned, make the financial sacrifice. I get it, you're young and want to have a nice looking "pimp" ride. Hell, we all get it. But make the switch to save money and thus make more money.

Or, if you need to make an extra $267 per month you could always go back to strippin'. Hey, no judgement!

 

A degree will serve you better than a 4Runner. Plus there are tens of thousands of them out there. You can always get another one. It’s much harder to make up lost income potential than it is to find another 4Runner.

 

Totally agree. A 4Runner is just metal and glass. Over time it will eventually become worthless. A degree will enable you to earn MORE money for the rest of your life. Then you can buy as many 4Runners as you want. Just don't put fucking raptor lights on it when you. Please, I beg of you.

 

Thank you all!!! Be back here with a 2024
4 runner in 2040! Appreciate everyone

 

Take it from us older guys, we've made the financial mistakes already. None of us are calling you names or looking down upon you @mattdc.032 . We've just been there. Your time will come man.

 

@banjos-n-beer WORD! Thank you!

 

Definitely. You'll be an expert and a give the salesperson the what for when you go buy again. Knowledge is power, no matter what subject.

 

Right. We'll only do that IF he stays. We're pretty tough on our fellow members.

 

@Steely123 how you guys giving me advice makes me not wanna sell the vehicle, JK, I feel very much supported/directed to do the right thing with no judgements, I’ll start having the vehicle appraised and go from there, I will be asking questions here and there since I am so dumb with this kind of stuff, Bless all of you!

 

OP, how much do you owe on the 4Runnner and what are your financing terms? Do you have any positive equity in the vehicle? The easiest way gauge that is to gat a quote for what Carmax would pay you for your 4Runner and compare that figure to your payoff amount.

Your current payment may not be ideal, but trading on a new Tacoma is almost certainly going to be a worse financial decision than keeping what you have. 4Runners are reliable and hold their value better than almost any other vehicle on the market.

The auto market is in turmoil right now, but good deals are still few and far between.

 

Lmao