Talk me out of this?

4,255 Views | 44 Replies | Last: 14 days ago by Canyon99
lockett93
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11:08a, 4/11/24
AG
I have a 2023 TRDPro with 20k miles and I'm thinking of trading it in for a new 2023 Lightning Lariat. I can get about $6k cash in my pocket on the trade after federal tax credit.

Pros/cons of getting money and a brand new lightning vs my used TRDPro?
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TexAg1987
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11:21a, 4/11/24
How much equity do you have in the TRD? How long are your payments?

$6,000 in cash isn't a deal if you give up $10K in equity and extend your payments another year or more.
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bam02
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11:22a, 4/11/24
AG
I mean… if the lightning fits your needs then go for it. I can't imagine paying that much for a truck that is so limited in functionality, though.
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Sea Speed
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11:34a, 4/11/24
AG
How much are you paying for the lightning? The prices on those things are dropping like rocks, aren't they?
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Garrelli 5000
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12:51p, 4/11/24
AG
how long will you drive it? Because that F150 will be worth near zero if it is even running in 7 years.
Take the trash out staff.
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AgRN16
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1:01p, 4/11/24
AG
Keep the Pro. Don't even think about it. The Tundra is a NO BRAINER.
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lockett93
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In reply to TexAg1987 • 1:07p, 4/11/24
AG
TRDPro is paid for. I owe nothing. The Lighting would be paid for as well with $6k back

Sales price is basically
$80k MSRP
$5000 ford cash rebate for Lighting Lariat
$7500 federal tax credit
$7000 dealer discount
$2000 Ford private offer cash
I might be able to get Friend & Family X plan for $3750 more

Total for lighting is approx $58500
Estimated trade in is $64500
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barney94
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1:31p, 4/11/24
AG
Keep the Pro
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aggiedata
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1:47p, 4/11/24
AG
That Lighting value is going to plummet in 3 years. Just look at the Tesla resell value.

The TRD will hold its value much better.
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HumbleAg04
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1:58p, 4/11/24
AG
One is a truck, the other is a temporary mobile outlet.
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Dill-Ag13
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In reply to lockett93 • 2:13p, 4/11/24
AG
Can you like $75k on fire? Serious question. If you've got the money enjoy it. But there will be weeping and gnashing of teeth around here if you do.
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aggiepaintrain
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2:24p, 4/11/24
AG
no
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ac04
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2:28p, 4/11/24
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Drip99
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2:44p, 4/11/24
AG
Honest question...why are you even thinking about this? I can't find any remotely good reason do make this happen.
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lockett93
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In reply to Drip99 • 2:54p, 4/11/24
AG
Just the concept to get a similar priced truck that's new in exchange for one with 20k miles…

I don't need to tow. And I have home charger already for PHEV. So saving gas and maintenance and getting new.
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ac04
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3:08p, 4/11/24
20k miles is barely even broken in for a toyota. you will lose way more than $6k when it comes time to sell the EV vs resale on the TRD pro. cancel this idea with prejudice.
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dummble
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3:29p, 4/11/24
AG
DO IT.

Is it financially smart - Cars are not investments
Is the tech package on Ford lightyear's ahead of toyota - very much yes
Is plugging in every night instead of having to refuel when you are already late worth it. - yes
Is your deer lease 90 miles away
Frunk
SPEED

Anyways, AMA
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Street Fighter
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3:59p, 4/11/24
AG
How is the fire coverage on your homeowners policy?
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bam02
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In reply to dummble • 4:03p, 4/11/24
AG
Of course vehicles are not investments, but they are big purchases. At $75,000 this one is particularly big if you ask me.
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dummble
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In reply to Street Fighter • 4:22p, 4/11/24
AG
It's a non-worry, my dad's diesel F150 caught fire in his driveway and my friends GT3000 in his garage. It could happen to anyone
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dummble
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In reply to bam02 • 4:26p, 4/11/24
AG
Either they are or they are not. People still buy Maserati's, Land Rovers and Dodges.
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TexAg1987
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In reply to lockett93 • 4:36p, 4/11/24
lockett93 said:
TRDPro is paid for. I owe nothing. The Lighting would be paid for as well with $6k back

Sales price is basically
$80k MSRP
$5000 ford cash rebate for Lighting Lariat
$7500 federal tax credit
$7000 dealer discount
$2000 Ford private offer cash
I might be able to get Friend & Family X plan for $3750 more

Total for lighting is approx $58500
Estimated trade in is $64500
What is the difference between what you paid for the TRD and the trade in value? That is what you are losing on the TRD. less 20K of driving.

The other unknown is longevity of each. What would they each be worth later down the road?

Sounds like it is not much of a financial decision for you, so not much to argue. Which one do you want?

You will have to spend some of that $6K getting a home charger installed.

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ttha_aggie_09
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5:05p, 4/11/24
AG

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bam02
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In reply to dummble • 5:12p, 4/11/24
AG
You are not wrong. I'm driving a 10-year-old Toyota tundra was almost 200,000 miles on it and it still drives like it has 100 miles on it. Not an investment that has appreciated, but it certainly has been a Practical purchase as far as vehicles go.
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ttha_aggie_09
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In reply to bam02 • 5:13p, 4/11/24
AG
RIP 5.7L… not sure you'll see same reliability with new Tundra motors
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bam02
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In reply to ttha_aggie_09 • 5:29p, 4/11/24
AG
ttha_aggie_09 said:
RIP 5.7L… not sure you'll see same reliability with new Tundra motors
I know.
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Buck Turgidson
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5:33p, 4/11/24
I'm pretty lukewarm on the current generation of Tundras, but HOLY CRAP a Lightning is a giant leap in the wrong direction! There are so many good/cool trucks in the world - a Lightning should not be anywhere on anybody's short list.
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Mas89
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In reply to lockett93 • 5:54p, 4/11/24
AG
Friend/ neighbor had a Lightning and put in a home charger. He went from home to Houston, and then unexpectedly needed to go from Houston to Bolivar to pick up his kid unexpectedly. Ran out of juice before making it home in the middle of the night.
Not sure if he still has the home charger but the Lightning is gone.
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LeftyAg89
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In reply to Mas89 • 6:28p, 4/11/24
AG
Mas89 said:
Friend/ neighbor had a Lightning and put in a home charger. He went from home to Houston, and then unexpectedly needed to go from Houston to Bolivar to pick up his kid unexpectedly. Ran out of juice before making it home in the middle of the night.
Not sure if he still has the home charger but the Lightning is gone.


The moral of the story here is clear,…. Don't have kids!!!!



(I joke, I joke!)
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lockett93
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In reply to bam02 • 6:55p, 4/11/24
AG
bam02 said:
Of course vehicles are not investments, but they are big purchases. At $75,000 this one is particularly big if you ask me.


I already failed that and bought the $75k TRDPro 16 months ago.
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JP76
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In reply to lockett93 • 8:39p, 4/11/24
Only 13% depreciation over 16 months

My guess is the lightning loses 20-25% in value in the first 12 months

So in 12 months it is worth 46,000 while the trd 12 months later will be around 59,000

So with your 6k cash this deal will cost you an additional 7,000 over the next 12 months

I guess one could argue you would save ~$250 a month in gas but what is the cost in electricity monthly for charging ?
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Garrelli 5000
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In reply to lockett93 • 7:49a, 4/12/24
AG
lockett93 said:
Just the concept to get a similar priced truck that's new in exchange for one with 20k miles…

I don't need to tow. And I have home charger already for PHEV. So saving gas and maintenance and getting new.
If this is a financial issue then just take $50K and burn it down to ash in. a dumpster. You'll at least still have a functioning Tundra

By chance do you have or are you seeking an extensive laserdisc collection?
Take the trash out staff.
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easttexasaggie04
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8:48a, 4/12/24
AG
Send pics of both trucks! Rule #1.
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lockett93
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In reply to easttexasaggie04 • 8:51a, 4/12/24
AG
easttexasaggie04 said:
Send pics of both trucks! Rule #1.



https://texags.com/forums/46/topics/3355378


I haven't chosen a Lightning…. And probably being pushed into the correct decision not to!
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dummble
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In reply to Mas89 • 9:07a, 4/12/24
AG
At some point he looked at his dash and thought he could make it without stopping to charge in Winnie. That's not the trucks fault.
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