SHORT VERSION: I traded my 2018 Ford F150 XL for a new 2021 Toyota Corolla LE. I did the transaction at Sheehy Toyota of Fredericksburg, a sponsor of many local races. It was an easy peasy and pleasant experience.
LONG VERSION:
I’ve been thinking of selling my F150 truck and buying a small SUV/CUV.
In May 2018, my 2004 Nissan Xterra needed $2700 in repairs to pass emission inspections. At 230,000 miles, I was not going to get many more miles on that vehicle. The Xterra was my backup work vehicle, able to pull the RTU equipment trailer.
Rather than buying a supped-up truck or SUV, I bought the base-level Ford F150 truck to pull the RTU trailer and haul equipment. The base-level truck has crank windows, manual locks, no bed liner, and seated two, three in a pinch. I needed the truck until RTU ceased operations, and I had moved all of the stuff out of my offsite storage.
RTU’s last race was in August 2020, and I moved everything out of storage by February 2021. I started putzing on replacing my truck. I used Kelly Blue Book to get an idea of the truck’s value and looking at the Sheehy Toyota website.
I was surprised to see that the truck’s value on KBB was 90% of the original purchase price, and I could get a small Toyota SUV for only a small amount above the truck’s value. At that time, Toyota was giving about $4500 off the MSRP in rebates and incentives.
Toyota’s have been a dependable brand with low mechanical issues. This opinion is from my and other’s experiences. Sheehy Toyota of Fredericksburg has been a supporter of YMCA races in the area. I do like supporting sponsors who help promote running and racing.
There is a worldwide shortage of processor chips. I kept hearing stories of the deficit and the inability of Ford to complete new F150 trucks to meet customer demand.
Over the next several months, periodically, I’d look at truck values. Last week, I heard a story that car dealers were no longer selling below MSRP and forcing add ons to new car purchases. It was time to start getting serious about swapping vehicles or settling on the F150 as a keeper.
In previous inquires, the value of my F150 was more than the amount I paid in 2018.
On Friday, July 2, 2021, my inquires confirmed the higher F150 values and that Toyota was only offering a $1000 rebate on new vehicles that expired on July 6.
First, I looked at the consumer reports website to get a feel of the quality of a Toyota RAV4. I looked at this model in 2004 when I bought the Xterra. It is Toyota’s small SUV.
Consumer reports valued this model as neutral or negative in dependability for the past five years and 9th of 24 small SUV models. I did not like what I read. So, I got thrown out of the mix.
The car I use at Domino’s is a 2004 Corolla. The Consumer Report dependability ratings were outstanding, and MPG was City 31 and Highway 40. With anticipated long-term increases in energy prices, those numbers were encouraging.
Looking at the Sheehy website, the Corolla LE models were well within my budget and might be an even swap for my truck.
So, when to visit the dealership? Scheduled to work evening rush on Sunday to Tuesday, the best time would be Saturday. I had the entire day off and would have no late time constraints.
On Saturday, after getting home from Reedville, eating lunch, and reviewing my baseball wagers on William Hill, I went on Kelly Blue Book to get a current value for the F150.
Very Good – low $23,137, high $25,532, average $24,335
Good – low $22,386, high $24,801, average $23,594
Fair – low $20,392, high $22,953, average $21,673
Next to the Sheehy site, they listed a Corolla LE available in Fredericksburg for $21,269 after rebates. Without any add ons and assuming they would add tax, processing, and transportation charges, an even swap might happen or at most owing $1000. Happy with the numbers; if I did not get a good valuation on the truck, I would be happy to walk away.
I wrote the trade numbers and list prices on a 3 x 5 card and on the back all the features I wanted to confirm on a test drive. My memory isn’t what it used to be, and making notes is becoming necessary.
After picking up my bib and shirt for the Heritage Festival 5 Mile, I headed over to Sheehy. Upon entering the showroom, a sales consultant greeted me.
The LE model listed online was not at the dealership. They did have a used 2021 Corolla SE model that I could test drive. The salesman explained the only difference between the two models was the trim levels. The mechanical features were the same.
He asked me for my driver’s license, gave me the keys, and let me do an unaccompanied test drive. Before leaving, he asked if I wanted to trade anything, and I gave him my truck keys to help their evaluation.
The test drive went well, and there were no blind spots. I went through my checklist and eliminated all of my concerns.
Happy with the test drive, the salesman was able to produce an offer. The negotiation was not bad. I was willing to accept the additional charges on the new car, as they were about the expected amount.
The amount offered for my truck was below what I was willing to accept. The salesman said he needed to talk with his manager. As a first for me, the manager came out and spoke with me. After a bit of back and forth, we settled on a price. Like all good negotiations, neither side got everything they wanted but was OK with the final numbers.
I met with the business manager to sign a bunch of documents. The car was still at the port in New York, with expected delivery between July 5 and 7. With the truck driver shortage and a holiday on July 5, I thought it would probably be July 7 or 8 for final delivery. I was at the dealership for about 90 minutes, including the test drive.
The car arrived on the evening of July 8, and I picked it up on Friday afternoon. The owner’s manual is online only. I’ll have to download and read.