Personally, I don't tow anything heavier than quads, so for me, the 4.7 is quite enough. I love it in fact! I have owned several trucks by several different makers and for the $ (and again my personal opinion) the Tundra is the truck I will keep forever also. Even "if" I buy another truck, I will not be trading in the Tundra. Also, buy do not lease if you're planning on keeping. Just an opinion.
__________________ '07 SR5 SuperWhite MagnaFlow exhaust K&N CAI debadged tinted windows Pioneer audio w/Bluetooth,GPS, DVD, & rear camera/monitor Stubby chrome antenna Ground Force lowering color-matched CW grille w/custom emblem paint job color-matched door handles HID (H11) head light mod LED tail lights 3rd brake light LED mod LED interior mods MB KL-77 wheels on Falken Ziex S/TZ-01
Future Mods: fog lights, color matched mirrors, lighted door handles
Used car values are in the tank all across the board on V6s and V8s. We went to look at a Chevy diesel on Saturday. Our trade is a 2007 Acura TL Type S with 7K miles on the clock in immaculate condition. Even lowballing, practically-wholesale-value edmunds listed trade-in at $31,000. Used car manager came in at $27,000. After guffawing for a few minutes, we thanked the truck sales manager and walked out.
Eight payments in to a 36 month lease and you alrady have a $6,000 financial ball-and-chain around your neck because the trade-in value of your new truck is that much less than what you owe on it. Not surprisng.
You are going to even more upside-down if you trade it in and pay $589 on the 08 Tundra for 7 years. You will still be paying off that truck in the year 2015. Even worse, we're talking over $10K cash you are going to have to come up with if something happens to the truck over the first couple of years.
Just to give you something to compare with, the payments on my 5.7 CM Limited "loaded" as below are $560 for 5 years (paid $33.6K after trade-in).
You have not articulated a compelling reason to need to trade in your current new truck and incur such a debt for so long. You'll be happy for about two years and miserable for the next five. The spend-now-pay-later attitude is really foolish. Sure, you only live once but there are probably going to be some pretty important things you want to spend money on in 5 years or whatever. At that point, I doubt it will matter very much to you whether you drove a 4.7 or 5.7.
So, you really ought to take a deep breath; enjoy your new truck; stop going to dealerships. Find something else to lust after like a big HDTV, blow about a grand on a nice one and watch some sports or some DVDs. You'll come out way ahead of where you would be on getting rid of a still-new truck for no good reason.
__________________
2007 5.7 CrewMax Limited 2WD; Pyrite Mica/ Red Rock Leather
20" Alloy | Nav-JBL | Moonroof | Sonar | Cold Kit | Daytime Running Lights | BedRug | ConsoleVault | SoftTopper | TRD sway bar | Weatherguard Tool Box
NAV Mods: Speed Pulse Generator | AUX video input
Buy your truck outside of the Gulf States Toyota monopoly if you don't want to compromise.
You might see if you can get out of your lease under the Soldier's and Sailor's Relief Act. Otherwise hold on to the truck, and learn not to skimp on motor next time around.
Cableman, you are doing the right thing. Some people on this forum are avoiding driving their new Tundras because it costs over $70 to fill up the tank. Unfortunately, there's no real way to economize once you've made the decision to buy a full size truck, other than to not drive it.
On your first post, you said that a friend advised you not to carry negative equity. This was exactly the situation you this weekend - the purchase of a new truck plus adding six grand of negative equity and financing it for seven years. The biggest problem is that anytime you might want or need a new vehicle in the next seven years, you would have to carry over more negative equity to the tune of $7,080 for every year you didn't quite make the seven. Imaging going to the dealership with a five year old truck and finding out that you have $14,000 left in payments to make on a truck that cost $34K when it was new.
__________________
2007 5.7 CrewMax Limited 2WD; Pyrite Mica/ Red Rock Leather
20" Alloy | Nav-JBL | Moonroof | Sonar | Cold Kit | Daytime Running Lights | BedRug | ConsoleVault | SoftTopper | TRD sway bar | Weatherguard Tool Box
NAV Mods: Speed Pulse Generator | AUX video input
Buy your truck outside of the Gulf States Toyota monopoly if you don't want to compromise.
You can get the JBL, or navigation added. Also the leather steering wheel. You can also add Leather covers for your seats. This would only cost a couple grand and would make your truck very similar to a Limited.
Never do a 84 mo. loan! 10K negative is too much. 3k maybe. Go put your money in a house were you actually get money back.
Thanks alot for all the help fellas. After sleepin on it, I would have been an absolute moron to jump on a deal like that.
Coal dragger, the government does give you a get out of jail free card in the newly written SCRA (servicemembers civil relief act). I believe that you need to fax toyota a copy of your deployment orders though which I will not recieve until right before we go next year. That is always an option I guess. I'll have nothing to show for all those monthly payments! First and last time I ever lease a vehicle period! Once again, lesson learned the hard way!
Scouts Out!!
p.s My residual afer 36 months is $18k, if they are offering me $21k now I would hate to think what the value will be in another 2 and half years. That was one of their selling points on the lease too! You'll have plenty of equity after the 3 years.........
I feel your pain. I've currently got a 5.7 DC TRD, which I love, of course. BUT it's not 4X4, which I now *really* could use as I do a lot of camping in the summer and desert driving in the winter. Do I trade in for another? Not this year. so sad.
Important for me to mention is that before my obsession with the 4X4 I was I was bemoaning the fact I didn't get the CM instead of a DM. I went through a whole thing where I was going to trade it in a few months after I bought. Mind you I had $1800 in the tonneau cover and like almost $500 in the bedrug. If the salesperson at my dealership wasn't such a jackass, I would be driving a CM today. And I couldn't really have afforded it, either.
Moral of the story? Well, for me, I need to just settle down and find out what I really need. and then maybe do without for a while. I don't know. good luck, man.
DUDE! buy a winch and as long as you don't go mud booging in the Tundra you can go anywhere "camping" will take you!
Cableman... I've been in your shoes before and I know your pain! My advice would be to stick with the truck you have. I don't know of many situations where anybody has had equity in a vehicle after a 3 year lease(I have always been behind, other than 1 diesel pu that was sold across the border).
As it is a lease, and you technically don't own a bolt in it... feed that engine some NOS to get your kicks!!
DUDE! buy a winch and as long as you don't go mud booging in the Tundra you can go anywhere "camping" will take you!
Yup get a winch and you will be set. the smartest most imediate thing to do would be to get a 3" 30ft recovery strap with loops.
Most camping trails can accomodate a 2wd truck. When in doubt go around or dont go through unless you have someone that can tug you out..
Momentum will get you through just about anything you will encounter on a camping trail.
4x4 is awesome though. i have a 4.7 CM and it has more then enough power off road and on road.
I dont tow anything heavy. Ive only towed a 6X16 trailer a few times that wouldnt weight more then 1000-1500lbs. If i ever did get a boat it wouldnt weight more then 5-6k so i figured i wouldnt need a biggere engine and the 4.7 had a much better incentive at the time.
__________________ TUNDRA786
2007 Tundra Crew Max 4.7 TRD 4x4
285/65/18's with BF Goodrich All Terrain KO's
BedRug, Undercover, Bed Extender, Husky Liners
Yup get a winch and you will be set. the smartest most imediate thing to do would be to get a 3" 30ft recovery strap with loops.
Most camping trails can accomodate a 2wd truck. When in doubt go around or dont go through unless you have someone that can tug you out..
Momentum will get you through just about anything you will encounter on a camping trail.
4x4 is awesome though. i have a 4.7 CM and it has more then enough power off road and on road.
I dont tow anything heavy. Ive only towed a 6X16 trailer a few times that wouldnt weight more then 1000-1500lbs. If i ever did get a boat it wouldnt weight more then 5-6k so i figured i wouldnt need a biggere engine and the 4.7 had a much better incentive at the time.
I do wish I had bought a 4X4 but I don't off road and if I did it would be in an old beater! Winch and TRD Off Road package could get me anywhere I would want to go.
No. 1, as others have said, I appreciate your service!.......
I made the mistake of leasing 1 time ('99 GMC Z-71) and was probably the 2nd worst financial decision I ever made. I have NEVER known anyone that felt a lease was a good deal once they were done. The ONLY reason to lease is if you own a business and you do it for tax reasons.
Most people lease because they are trying to buy a vehicle that they can't afford...... the EXACT reason we have a sub-prime mortgage crisis right now. Greedy lenders allowing people to buy houses they couldn't afford (unlike some, I don't blame the lenders alone, they were just greedy, the buyers should have known better and are just as liable. It sickens me that the gov't is going to bail some of these people out.......but I digress).
My advice, suck it up for the remainder of your lease, take the extra money that you WOULD have paid had you traded and put it in the bank. A little over 2 years from now you will have a nice down payment on the truck you want and no trade-in to weigh the deal down.
Re: To trade or not to trade?
'07 SR5 SuperWhite 
If you can afford it, go for it.
TUNDRA786
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