Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I posted this also in the Toyota specific forum but thought others might have an opinion.
I'm looking more from an "is it worth it" aspect:
I'd love to hear people's opinion on my situation.
I have a '12 Highlander 4cyl that I purchased new and have owned for just slightly over 2 years.
Apparently it has held it's value well and I have been offered only $3k less than what I paid for it.
So in 2+ years and 38k miles It has only depreciated $3k. I paid $23k.
I am looking now at the '15 Highlander v6 FWD base. Cost is $31k.
That means I can trade in my just out of warranty vehicle with 38k miles for a new model with a V6 for just over $11k.
I own my car outright and would pay the difference outright.
My other thought is to wait another year till the 16s come out.
Thoughts?
I tried to look at scenarios online but generally they deal with cars that are depreciating much more than $3k over 2 years.
I really think either trading now or waiting a year are probably equal.
I will need to pony up actually more money if I drive my car another year and possibly the 16 will be priced slightly higher?
Chances are, another year of miles at that rate will have some significant depreciation risk on your 2012. So you will be offered less in trade, making the overall transaction more expensive. So if you want to keep the transaction as low cost as possible, trading now would make sense.
However, if your looking to extend out farther, and buy new vehicles a little less frequently, your certainly in a position to get another year out of your current car with minimal risk (other than it will be worth a little less in another year with more mileage).
Personal decision really. Do you want the new car?
On paper everything looks good. Really comes down to what you want to do? Enjoy a paid off car for a few more years, or spend $11K to get into something a little better with a warranty.
I posted this also in the Toyota specific forum but thought others might have an opinion.
I'm looking more from an "is it worth it" aspect:
I'd love to hear people's opinion on my situation.
I have a '12 Highlander 4cyl that I purchased new and have owned for just slightly over 2 years.
Apparently it has held it's value well and I have been offered only $3k less than what I paid for it.
So in 2+ years and 38k miles It has only depreciated $3k. I paid $23k.
I am looking now at the '15 Highlander v6 FWD base. Cost is $31k.
That means I can trade in my just out of warranty vehicle with 38k miles for a new model with a V6 for just over $11k.
I own my car outright and would pay the difference outright.
My other thought is to wait another year till the 16s come out.
Thoughts?
I tried to look at scenarios online but generally they deal with cars that are depreciating much more than $3k over 2 years.
I really think either trading now or waiting a year are probably equal.
I will need to pony up actually more money if I drive my car another year and possibly the 16 will be priced slightly higher?
Thoughts?
It's not out of warranty. It came with a 5 year/60k mile powertrain warranty.
You are basically trading it in for the same exact car with a less fuel efficient engine. You really think V6 is worth $11k + tax + DMV fees? I don't think so.
I was referring to the bumper to bumper warranty.
I am not really concerned about the V6 although it is of a benefit as I do tow a pop up camper with it
I just thought getting 3 model years and a reset on mileage without loosing much money on my trade in depreciation made it appealing.
It's not like the 16's will be cheaper
Given the information provided I can only assume that the dealer wants it for a certified used inventory piece and to move a new unit. The OP is correct that the small depreciation on the 2012 makes a desirable trade opportunity.
I was referring to the bumper to bumper warranty.
I am not really concerned about the V6 although it is of a benefit as I do tow a pop up camper with it
I just thought getting 3 model years and a reset on mileage without loosing much money on my trade in depreciation made it appealing.
It's not like the 16's will be cheaper
It is appealing. If I were you, I would likely jump at this deal.
The only thing holding me back is that I don't really 'need' to trade--i like my 12 fine, it works just fine--but I must admit the back up camera, redesign and button to open the back liftgate are almost enough to make me jump at it.
I would also need to figure in the cost of having to add the hitch and electric brake control for my camper.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
