need help and advise on trading 08 Limited for a sr5

[Pellapat]

Just like the title says,

I have a 08 limited with 4500 miles.

I paid 46,000 with a sticker of 51600

I owe 44500 at a 60 month at 5.49 865 a month

I can get a 08 srp with a sticker of 42,007 for 35007

When I add the finance in at 0 percent for 60 months

The say 39750 for the trade which i bought feb 2nd

the total cost is 39799 financed payment is 663.00

Over 60 months is 12120

I just wonder is it is wise.

I had the limited wired for dvd's so it will cost me 300 to buy the wiring and have it reinstalled in the sr5

spes for sr5

COLD AREA PKG -inc: headlamp cleaner windshield de-icer heated exterior mirrors
ROOF RACK
PWR DRIVER SEAT PKG -inc: 8-way pwr driver seat 4-way pwr passenger seat
REAR SPOILER
TOWING PKG -inc: receiver hitch aux trans cooler 7-pin wire connector HD alternator 4.30 gear ratio
FOG LAMPS
CARPETED FLOOR MATS W/CARGO MATS & DOOR SILL PROTECTOR (PPO)
AM/FM STEREO W/6-DISC IN-DASH CD CHANGER -inc: (8) speakers (N/A w/EY Rear Entertainment System or NV Navigation System)
AUTO-DIMMING MIRROR (N/A w/HJ Homelink) (PPO)
COLOR-KEYED RUNNING BOARDS
DAYTIME RUNNING LIGHTS -inc: on/off feature

specs for current ride

My limited has a sunroof, all weather mats and the self leveling rear end

also a set of 20" lexus wheels I am keep those.

One last thing should I keep the michelins instead of the bridgestones on my 18" wheels


Any one know hoe the cloth is.

[Pellapat]

I really need to see what I am losing
leather- that hurts
sunroof- care less
Bluetooth-care less works like crap
self leveling-hard to understand since I will never tow anything with it
bling, crome -looks good but I can live without is

Am I missing anything.

I really need to lower my payment fast

[TraderHal]

have you checked if you'll qualify for the 0% apr? im not sure how strict toyota financing is

[Pellapat]

750 credit score the wify is 780

we will qualify

[TraderHal]

then if you can swing it with the dealer go for it.

[ThirdHorseman]

Why?

[TraderHal]

Originally Posted by ThirdHorseman

Why?

He's trying to take advantage fo the 0% financing from toyota replacing his current 5% financing

[ThirdHorseman]

Ah, I get it. That's what I was guessing, but I didn't think it would be worth rolling in $5,000 worth of negative equity, not to mention losing the benefit of any down payment. Now if you're operating from a monthly budget standpoint, I can see the benefit of the trade, but you're really just shifting your financial burden...not alleviating it.

IMO, it's six in one, half dozen in the other. You're either paying interest, or rolling in thousands of negative equity...essentially paying MSRP in the end. Not to mention you'll end up with a lower trim line that is worth less. You obviously bought a Limited the first time around because you like the additional features.

The wisest choice? Keep what you have, and pay additional principal to lessen the interest hit. Your interest rate is already low, it would be easy to trim it even more with some strategically timed principal-only payments.