A tough trade in to upgrade choice…

So I’ve got the 2023 SR5 w/TRD Off-Road premium package (ie. The nicer seats etc) in lunar rock and 6.5’ bed. 8500mi

My local dealer just posted a crazy good deal on a previous model year 2023 1794 5.6’ bed non TRD Off-Road package for what would be a $7000-$8000 net difference after trade sale of mine.

I’ll assume you guys understand what the upgrades are without listing them, the only downgrade would be the loss of the TRD Off-Road package. I’m pretty indifferent to a lot of the upgrades but I wouldn’t hate any of them. I’ve done wheels/tires and running boards on mine that could be swapped over for no net loss.

So what would you do?

 

yolo, if you want it go for it, otherwise your gonna see other 1794 on the road and just always be jelly, everyones finances are different, some ppl like 1k monthly payments, so whats another 8k over a few years

 

True, that’s another factor though. I paid cash for my truck and have no payment, I’d probably FI an upgrade at least for a short time which is fine I guess but going from no payment to some payment sucks. It also occurs to me that I bought the Toyota extended warranty (very cheaply through the forum’s contact Jerry) I’m sure it could be swapped over or cashed out and rebought but might cost a little too.

 

Do not take advice from this guy. If seeing someone else’s truck gives you feelings of jealousy, you are the problem. Not your truck. You probably waste too much time fantasizing about something different/better than what you have.

This is the most insane thing I’ve read on this forum. Some people LIKE $1k monthly payments?!

The only $1k monthly payment I like is for a HOUSE.

You own your truck free and clear with an extended warranty (which is absolutely not transferable). If the price of the truck is $7-8k higher than yours is worth on trade-in, I guarantee you it will cost you north of $10k to make the swap after taxes and fees and all is said and done.
You get a downgrade in performance (no TRD offroad package) and an upgrade in…looks? Snap out of it, man!
Keep your truck. Do truck things.
Invest the $8k. Add $1k/month (instead of a truck payment). At the end of 5 years with a 5% interest rate (this is guaranteed right now), you could have $78k and growing. You just earned over $10k in interest.

 

Post #4 wraps up a lot of great thoughts... well, from my perspective.

I like several things on the TRD setups, but prefer the 1794 trim package overall. Yes, I am one of the guys who has a 1794 and also has a couple saved shopping carts with the TRD Pro pieces in them. That said, your truck is paid off. you can literally do whatever you want to it within your budget. Why trade that out? If you were getting newer with *insert must haves* then sure, thats what most people do... but if you are just making the switch to make it, then all I can say is it is your money, do your thing.

A great example I have is a meet I just did yesterday. I met a guy to sell off the last of my Ram takeoffs and I immediately started talking about how nice is truck is. The wife said, you really never stopped talking about your Ram, why dont you just trade this in and go get one again? Truth is, I dont want to. I appreciate other peoples builds and like the starting point on the Rams look. That said, I am more focused on finishing the last few payments on this truck and having the known of what this one is. There are a few things I would change out if money was no object, but, as I explained to her, the Ram would cost me a lot more money. Sure, it gets 1.5x my fuel economy.... but I would be starting over on the build and they take a lot more money to get to the look I want.

Sure, you are talking Toyota to Toyota, but..... once again... why? That warranty means more to me personally than any seat or radio package.

 

Dave Ramsey is that you? lol
Seriously though I appreciate the perspective probably the splash of cold water I need.

I guess that’s why I came here. If even Tundra guys think it’s a bad idea, it’s probably a bad idea.

 

Or, ask yourself if that $8K can somehow somewhat make you achieve the 1794 wants (other than that plate, which I think is just 1794 only) then act accordingly.
Your money, your way. But yea, having no car payment is awesome, to be able to drive a truck that you love is another.

I paid off my SR5, but got many things going for it and honestly, I love how it is right now, would I love a TRD PRO? Hell yea, but for $25K more? Nope. I am crazy but not that crazy for that stamped side panel.

 

If you have the kind of cash to buy the 1st truck, you can buy the 2nd one cash as well? Go for it. Keep the economy rolling.

 

What economy?

 

Lots of crypto and social media influencer millionaires out there to pay over $60,000 cash for a vehicle to turn around and pay more for another one of the same year. Or simply government workers that seem to get raises no matter what doing the same.

I did read an article that this generation is going to be the wealthiest as they inherit the baby boomer money. Perhaps this is how it is done?

Me I need interest rates to go down so I can refinance my house I bought last fall. LOL!

Edit: Could be a college loan disappearing recipient?

 

Great advice on all except this part, per conversation with Jerry this warranty is 100% transferable on a new vehicle.

 

maybe I’m misunderstanding here, but it is not transferable in the way I took the OP’s meaning; it is not his to transfer to whatever truck he chooses to subsequently purchase. It is transferable to the new owner of his current truck, not transferable from his current truck to any other.

 

I've am / have been in a similar situation. Really like the platinum and all the extras, but my '23 TRD sport is owned outright, and the cooling seats isn't worth the extra cash I'd fork out after trading my current one in. Might change my tune when the '25 model years come out, but for now my '23 is perfect.

 

Lol, maybe it's me but the conversation I had with Jerry he told me I could give it away with my truck for additional money, or take it with me and put the remaining mileage/time left on the warranty towards my new vehicle.

 

I would do it. 1794 is worth more on trade in the end, so money out now, more money on trade later when you move on from it. Besides SR5's are everywhere, 1794's.....not so much.

 

I have a 1794.... Want the creature comforts like leather, blue lighting etc? Its for you.

I learned long ago that its cheaper buying the ride you want vs taking a lower model and making the vehicle what you want later with add ons etc. This advice is all dependent on if you can afford it. Too much $$$ then thats ok too.

Rather be driving 4 wheels than walking on my heels anyday.

 

I'd personally wait to see what comes with the MY26 refresh. In the mean time, stack that paper.

 

That is precisely what I’m going to do with my ‘22. The only difference is that I’m going to finance it to get a better deal and pay off the loan as soon as the lender has the loan available for payoff.

 

Yup im happy with my SCed '18. If I need to upgrade I wont get a turd gen thats for sure. If a newer 2nd gen isnt available id rather move over to chevy/dodge

 

I have never heard of a warranty being transferred to another vehicle.

 

Give Jerry a call and put this to bed.

 

Roflmao, this got doesn't understand satire, check my post history, ppl are telling other forum members this is my discount, and I'm the one who says go find more since others dealers giving 10,500+ off already and are out there - you go find them.

Do note this guy has a new truck and wants to get into the same truck but more amenities, if he can swing it why not, it's not your $ lol, write however much dribble you want, we ain't his bank or know anything bout his finances

 

^^best advice right here!^^

 

Worth it just for a/c seats…it’s fancier than I need, but damn it’s nice. Even a limited has them in the front!

 

It's your dime, spend it however you want.......I went from a 2022 limited to a 2023 Platinum and couldn't be happier.

 

Ball chillers FTW!!

 

What they do is credit the remainder of your original warranty to you. Then charge for a new warranty on the new vehicle.

 

I am still highly skeptical as it sounds like this is something purely at the discretion of the dealer as a bargaining chip to entice you to buy a new vehicle.

“So you paid $1200 for a 100k-mile extended warranty on your current truck. Since you only drove 50k of those miles, we’ll offer the next extended 100k-mile warranty on a new truck at half price when you trade your current truck in.”

Still can’t find any info—official or otherwise—that this is a common occurrence.

 

What I have experienced is using the cancellation clause in my extended warranty. This involved cancelling the warranty on the trade in/sold vehicle and receiving a prorated refund. Then, I just purchased a warranty on the new vehicle. These were manufacturer warranty programs (Honda/Acura/Toyota Financial Services VSA - Vehicle Service Agreements), not third party programs. Even when I traded in one model Honda for another model Honda, this was the process used, except it was done transparently to me by the dealer finance person as part of the deal.