Previously had Celica GTS, Rsx, & WRX. I plan on modding the car but It'll be my daily. I don't know if I can last a few weeks of not modding it since my first day of my getting my Tacoma, it has over 5K in mods... I think I can handle the maintenance. It's just the insurance is a bit pricey for my age.

 

Being 18 Years old, I don't really need a truck as I am a student. I do work, but a truck is basically useless in my life.

 

If you're an 18 year-old student, I don't think you really need an Evo X Final Edition either.

 

Yea...im sorry to be Debbie downer but as an 18 year old student you prolly don't need a brand new car... should have just got a cheaper used one to use your funds elsewhere.. but that is just my 2 cents. Just keep the truck because other wise you are going to get screwed on trade in, heck even if you try and sell it outright you will still lose out.

 

That's the down side of owning an MR...

It's called mommy and daddy

 

Losing 5 grand trading in the truck at minimum.

 

I say 7k easy.

 

put it up on Craigslist and see if you can find a buyer.

 

On trade your gonna be upside down.better have some down payments on the side.

 

I bet you lose 10k. And do you have another 4 grand set aside for the clutch and other stuff you will certainly break at 18?
I've spent my entire life buying and trading in cars for something I wanted more and you know what? I ALWAYS WANTED SOMETHING ELSE NO MATTER WHAT I HAD. Had a vette, wanted a Benz, had a Benz wanted a bmw, had a bmw, wanted a Porsche. It never ends man keep what you got.

 

Quick math example for ya.
Tacoma 30k brand new
Tax 3k
License, fees, docs, etc 1k

Trade in dealer has to sell for 26-28k used, even if it has 1 mile on it
They give you 23-24k
10k gone, give or take your states trade tax requirements

 

Life is short. Cars are a big part of life's enjoyment. If you can swing it, then go trade in the Tacoma.

 

(depending on how much you owe on the truck...)Another problem with trading in besides the negative equity is that a new car essentially has no room to roll that negative equity into financing considering most are at or above msrp. Good luck finding any lender who will lend you more money on a new car than the actual msrp, especially with a thin credit history. Unless you pay the negative equity out of pocket and get the new car for msrp or less then you might want to revisit this scenario in a year or so that way you'll have more paid down on the truck.