Possible Goodbye to Tina the Taco. How much will they give me?

[OsideVinny760]

Yes the dreaded moment I would fear will possibly occur today or sometime this week

I will be taking my truck into the dealership and sell them back my truck ....

you ask why?

#1: Gas Prices, I drive avg. 35 miles one way to so between 70-75 miles a day M-F and on weekends about the same if not more.

#2: Financial Dilemas

#3: with gas, insurance and car payment I pay about $1000 a month if I get lucky

so I have to get it appraised today, I am willing to take $2000-$3000 Hit on it, I hope it's not that bad, It's in emaculate condidtion

She is a 2006 Toyota Tacoma TRD Sport Prerunner Double CAB, Long Bed w/ Stock OEM side boards
Milage: 4300
Paid MSRP + Toyota Car package w/ gap insurance, paint etching, low jack, free oil changes, extended 100000mile warranty, maintenance plan ($5000) which can be refundable

How much do you think they will give me for this?

[novataco]

Man, I feel bad for you. If you paid MSRP and $5000.00 for the extended warranty you paid through the nose...

What posessed you to pay MSRP? You will take a big hit on it because most people are paying around invoice for a new Tacoma so expect your dealer to give you well below that.

You should have paid $900 to $1500 for that extended warranty. Hope you don't get hosed again...

[10SE]

I hate to say it... but, you're gonna get killed in negative equity. If you don't drive a new vehicle for at least three years, even Toyota's high resale-value can't help you.

[thaibud]

check out www.kbb.com. they only have trade-in values up to 2005, but at least it will give you a ballpark. good luck. i am thinking of doing the same thing - my commute is 50 miles one way

[boone]

Why not take that $3000 you're willing to give up and buy a 10 year old Camry or Corolla as a daily driver?

With two cars, you'll lower the insurance premium on the Taco.

You're going to get bent over by selling it back to the dealer. You sound desperate and the dealer is going to take advantage of you (like the extended warranty, $5000?!?). If you want to get rid of it completely, at least attempt to sell it privately.

[HoustonHokie]

I don't understand why you bought it in the first place unless your commute has recently changed. If you've only had it a few months or so (just guessing based on your mileage), gas prices were not drastically cheaper at that time.

You're probably better off keeping the truck and buying a very cheap car or motorcycle for commuting...unless you really are in a rough financial spot. Or play around in an excel spreadsheet - you should be able to figure out how much you'll save in gas as opposed to how much you're going to lose selling it now (to a dealership nonetheless, which means for even less than selling it yourself)...I'm sure you'll find that it pays to keep it longer.

I don't mean to bust your chops, but it doesn't seem like you planned this very well. It sounds like you didn't get the best deal in the first place and paid a butt-load of money for some typical dealer rip-offs. Sorry if I'm adding insult to injury...

Good luck with whatever you choose to do.

[10SE]

Originally Posted by boone

Why not take that $3000 you're willing to give up and buy a 10 year old Camry or Corolla as a daily driver?

With two cars, you'll lower the insurance premium on the Taco.

You're going to get bent over by selling it back to the dealer. You sound desperate and the dealer is going to take advantage of you (like the extended warranty, $5000?!?). If you want to get rid of it completely, at least attempt to sell it privately.

Well said.

You can buy a hell of a beater for three grand.

[TexasT]

Vinny,

Many of us have been in the same boat at some point in life. As tough as it is, you are doing the right thing taking a possible surgical hit right now rather than a slow bleeding and struggle trying to hold onto the Taco with high payments, insurance and gas.

Fifteen years ago I bought a Jeep Cherokee, thought I needed it, but the Jeep payment was draining my wallet and the wife and I had two sons to raise. So, I sucked it up, traded in the Jeep at a Ford dealership, and bought a 4 cyl Ranger XLT decreasing my car payments to an amount I could handle monthly. I was upside down, but paid off the Ranger, gave it to my son at 96k miles and he drove it until it coundn't go and traded it at 134k.

[Velvet Wheeler]

If you paid MSRP you will be lucky if the hit is only $3K. My guess is it will be closer to $5K. Sorry.

[NorCalTacoma]

So you paid MSRP plus all those add-ons and tax in California?

Damn.

You are looking at a negative of over $5000, guaranteed.

Disregard the KBB, that shit is never true. Dealers use the "black book" which tells them what the car is worth at the auction. They are going to rape you with authority!

What are you going to buy instead?

[boone]

I talked to the dealership for you and they are willing to trade you straight up for this:

[docindahouze]

damn! sorry to see you go like this . it seems like quite a few people have been doin this lately. im glad my truck is paid off .

[ilovepandesal]

Oside,
Just take out a HELOC and pay it off.

[novataco]

Here's another thought. Try to make two extra payments per year. In other words...make up for the high sticker price you paid by reducing the loan more quickly. Meanwhile, see if you can trade vehicles for a while with a friend or family member that has a fuel efficient car and a short commute. That will mitigate the gas problems and you can work hard to pay down the loan at the same time. That way you should lose the least.

Another tip: stop calling your truck "Tina the Taco" unless you are female, and if you are, change your screen name and take the name Vinny out...

I'm just saying...

[jedi]

Originally Posted by docindahouze

damn! sorry to see you go like this . it seems like quite a few people have been doin this lately. im glad my truck is paid off .

Its seems more likely that people aren't figuring their finances properly when they jump into buying these Tacos. If an extra $10 to $15 at the pump is gonna kill you, you probably shouldn't own a $30,000 truck to begin with... no offense... sorry to hear your dilema dude.