Trading in your car or truck is probably one of the least smart things you could do when buying a new car before 2020 because of the insanely low prices that dealers offer. Want to know how low? In 2016, the dealer told us $300 for a 1997 Nissan Altima. Back then, that car was easily worth at least $3,000. Now I understand that a dealer needs to make money by reselling the car but making 90% profit of what you bought is either really good selling, or you just ripped someone off (A.K.A us).
However, as the turn of the decade came, we started to see an uprise in trade-in prices and used car prices. Today, you cannot find a reliable 20-year-old car under $5000, let alone a slightly newer one. Nonetheless, your brand-new car is now worth way more than it was when you bought it.
Most of you may not be familiar with the term “sneakerhead”. These early 2000s terms were applied to any person who would buy articles of clothing or shoes for their retail and sell it on the streets for more than their retail. A big contributor is a skater brand called Supreme. This brand has been known to accumulate value in a matter of minutes. Once you buy something from the Supreme store and walk out the door, it is automatically worth way more than you bought it for.
This same business model is also used for supercars. There are many supercars that cannot be bought off the dealer’s lot because of waiting lists and dealer allocations. Therefore, some people who have connections buy a supercar for MSRP and then sell it for way higher.
Taking this method, before 2020, your dealer would give you less than what you paid for as your trade-in value. Today, a brand new 2022 Toyota Tundra’s trade-in value is going to be higher than its MSRP. Yes, that’s right, higher. Now if you bought your 2022 Toyota Tundra for MSRP and maybe you want to upgrade to a downgrade, you have the perfect opportunity to come out of your contract with a positive adjustment.
A lot of owners are fed up with the current wastegate problem on 2022 Toyota Tundras. Some of them want to go back to their Dodge or their Fords. You can now do that and still have money left over from your trade-in.
Tim Esterdahl wrote in a Facebook group saying, “Does anyone have an idea on trade-in value? I have a 22 Limited, crew cab, TRD package, panoramic moonroof, 4wd, tow package, and about 7k miles.” The TRD package is a very sought package, and many dealers don’t get a lot of them allocated to them. Websites like Edmunds or KBB don’t have these yet because it is still too new.
It’s a brand-new car, most people don’t expect a trade-in. However, James Simpson commented saying, “It’s on YouTube so it’s worth way more than normal. In reality, I’d guess at least 3-5k over MSRP.” Now, most people would jump at the fact that a trade-in is almost $5,000 more than your MSRP. However, if you bought your 2022 Toyota Tundra for more than MSRP, then maybe you may take a loss depending on how much you paid and how much over MSRP the trade-in will give you.
As a Tundra fan, it’s sad to see that some Tundra owners are trading in their Tundras because of wastegate problems for another brand or even an older Tundra. People really liked the v8 models and those were tough, reliable, and stable trucks.
So, if you are tired of your recent purchase of a 2022 Toyota Tundra, don’t worry. There is a big chance you won’t take any loss from trading in your truck.
What do you think? Would you trade in your Tundra if it was over MSRP? Let us know in the comments below.
Harutiun Hareyan is reporting Toyota news at Torque News. His automotive interests and vast experience test-riding new cars give his stories a sense of authenticity and unique insights. Follow Harutiun on Twitter at @HareyanHarutiun for daily Toyota news.