Used Toyota Tacoma or a New One: Which One You Prefer to Buy in Palos Verdes?

Buying a used Toyota Tacoma or a new one is a decision you need to make when purchasing a reliable truck in Palos Verdes. A new Tacoma may have a better warranty and the latest technology, but it's likely to be more expensive than a used Toyota Tacoma and will depreciate faster.

What's the Difference Between Buying a Used Toyota Tacoma or a New one?

Warranty: Used Toyota Tacoma Vs. New Toyota Tacoma 

The advantage of buying a new Toyota Tacoma vs. a used Tacoma is that the new Tacoma generally comes with a warranty. The warranty should cover the most significant problems and repairs that crop up in the first few years of ownership. However, the new Tacoma will require very few repairs in the first few years. So you can focus mainly on maintenance.

Read More about Toyota Tacoma Maintenance Services.

Compare this to buying a used Toyota Tacoma, which may not be as reliable as a new Tacoma because of its age. You may need to do more car repairs on a used Tacoma. These repairs are likely not covered under warranty, as they would be with a new Tacoma.

However, you have the option of buying a certified pre-owned Toyota Tacoma. The manufacturer has inspected and resold a pre-owned Toyota Tacoma, and it may also come with a warranty.

As technology has improved, Toyota trucks have become more reliable. Many models do not need car repairs until they have been driven 100,000 miles or more. They may be near to 10 years old. It means that you can buy a used Toyota Tacoma that is three years old and sell it after five years without the requirement of any major repairs. Plus, you may be able to sell your used Tacoma at a price very close to what you bought it for.

If you buy a used Toyota Tacoma, you may want to set aside a little bit of money each month to cover any repairs that come up.

Price: Used Toyota Tacoma Vs. New Toyota Tacoma

New Toyota Tacoma generally costs more than used Tacoma. The Toyota Tacoma dealership may also offer new Tacoma financing at a lower interest rate to make the purchase more attractive. This rate can reduce the amount of interest you pay over the life of the loan. Some Toyota Tacoma dealerships even offer a zero-interest loan for the new truck.

Although you won't find zero-interest loans for used Toyota Tacoma, you can still find good financing options through your credit union local or local bank.

Insurance: Used Toyota Tacoma Vs. New Toyota Tacoma

Depending on the used Toyota Tacoma model, your insurance rates may be lower on a truck than a new Tacoma. One reason is it doesn't cost as much to replace an older model as it does to replace a new Tacoma.

You can save money by purchasing and insuring a used Toyota Tacoma instead of a new one.

Click Here to Read More about Toyota Tacoma Insurance.

Technology: Used Toyota Tacoma Vs. New Toyota Tacoma

New Toyota trucks will have the latest technology, which will mean that you may find trucks with better fuel mileage and lower emissions. Improved technology can make connecting your smartphone, listening to music, or seeing your way with GPS.

Depreciation: Used Toyota Tacoma Vs. New Toyota Tacoma

It is essential to realize that buying a truck like Toyota Tacoma is not an investment. Cars are assets that depreciate over time. When you buy a new Tacoma, it loses value as soon as you drive it off the lot.

A new Toyota Tacoma takes its biggest depreciation hit in the first two to three years.

An advantage of buying a used Toyota Tacoma is that you let someone else (The previous owner) take the most significant depreciation hit on the truck. By purchasing a used Toyota Tacoma and maintaining it well, you may be able to recoup a lot of your costs when it comes time to sell the truck.

Used Toyota Tacoma or a New One: Which Is Right for You?

Buying a used Toyota Tacoma may be the better bet if you prioritize a low price and good value.

If you're more concerned with the most updated technology than you are with price, a new Tacoma may be the choice for you. If you prefer to drive a truck that's still under warranty, a new Tacoma is better for you. There is an exception if you choose a certified pre-owned Toyota Tacoma that has a warranty.

Buying New Toyota Tacoma:

Buying a new Toyota Tacoma has a lot of benefits. Some are more tangible than others. Here are a few:

There’s No History of New Toyota Tacoma:

When you buy a new Toyota Tacoma, you should not worry about its past. It would be best if you did not fret about whether any previous owners mistreated the truck, had an accident, or failed to do maintenance services, such as regular oil changes.

It would be best not to worry about any wear and tear like you would with an old Tacoma. The tires and bra will be factory-fresh, and the interior immaculate.

It’s Easier to Buy a New Toyota Tacoma

 Because there is no need to spend time researching a used Toyota Tacoma history and getting inspections before purchasing, it's easier to buy a new Tacoma than to buy a used one. You also don't have the cost of a Carfax Report, plus the cost of an independent mechanic’s time.

Click Here to Read More about Carfax Report.

New Toyota Tacoma is Cheaper to Finance

Lenders look closely at risk when deciding whether to loan you money and how much interest to charge. With the new Toyota Tacoma, the value of their collateral (your car) is known. New truck buyers are more likely to pay back their auto loans. There's more uncertainty about the collateral value with used Toyota Tacoma. Also, there is a high risk of the financing not being repaid fully.

Because of the increased risk, lenders charged used Tacoma buyers with higher interests on their auto loans.

You should be careful because a new Toyota Tacoma purchase may get you a higher interest if the price is so high that your loan-to-value ratio exceeds your lender’s threshold for the best financing rate.

Click Here to Read More about Used Toyota Tacoma Financing.

Compare Auto Loan Rates

Get pre-qualified to save time and money. There are no fees; it's quick, free, and accessible.

• Fill out a secure and short two-minute offer form.

• Be matched with lenders and get up to 4 offers.

• Receive a check or an online certificate within 24 hours.

• Use your check to buy the Toyota Tacoma model you want or use it to refinance your current loan.

Read More about the Car Loan Calculator at Car Plus finance.

New Toyota Tacoma Safety Technology

The safety technology available on Toyota trucks has improved in just the last few years. Technology like cruise control, lane-keeping assist, and automatic emergency braking comes as standard equipment on many new Toyota trucks and low-cost options on others.

New Toyota Tacoma is More Fuel-Efficient

Toyota is striving to improve the efficiency of every car in its lineups. From compacts to full-size trucks. A compact sport utility will meet the efficiency of a ten years old midsize sedan. You will find fewer V8 and V6 engines in today's Toyota cars. They're being replaced by high-tech turbocharged four- and six-cylinder motors. Toyota is employing advanced automatic transmissions to glean every bit of energy out of each gallon of gasoline. Lightweight yet strong materials allow Toyota cars to burn less fuel without compromising safety as they roll down the highway.

Read More about Toyota Tacoma Fuel Economy.

You Get Full Warranty Coverage by Buying New Toyota Tacoma

An essential benefit of buying a new Toyota Tacoma is warranty protection. Most trucks come with bumper-to-bumper coverage covering everything but the powertrain for a minimum of 3 years or 36,000 miles. Powertrain warranties usually eclipse the basic warranty, with coverage extending ten years or 100,000 miles. A new Tacoma warranty is included in its price. Therefore, there is no need to pay to get the coverage.

New Smell of New Toyota Tacoma

For some opponents of the new Toyota Tacoma, getting that fresh smell might seem a funny reason to pay extra money. For others, the new car smell symbolizes that you're the first owner of the truck. That means no one else has been behind the wheel of your new ride.

Read More about Impact of Toyota Tacoma Previous Owner’s Number on the Price.

Disadvantages of Buying New Toyota Tacoma

Buying a new Toyota Tacoma isn't a perfect option. Several reasons are purchasing a new Tacoma might not be the best choice:

New Toyota Tacoma is Expensive

Buying a new Toyota Tacoma is the most expensive way to get behind the wheel.

Adding the cost of financing, warranty coverage, and insurance costs makes the difference even more pronounced.

You Have to Buy New Toyota Tacoma from a Toyota Tacoma Dealership

New Toyota Tacoma is sold exclusively through franchised Toyota dealerships. Unlike used Toyota Tacoma, which can be purchased from various sources, including Used Toyota Tacoma Dealerships, used car superstores, and private parties.

You Have to Pay Lots of Sales Tax for a New Toyota Tacoma

When you buy a new Toyota Tacoma in Palos Verdes, you're taxed on the total price you pay. Buy a used Toyota Tacoma, and you won't pay nearly the same amount in taxes due to the lower transaction price.

When you purchase a used Toyota Tacoma from a private seller, you must pay the sales tax when you title or register the truck with your local DMV in Palos Verdes. So you're not forced to pay taxes. The amount you spend on new Tacoma lease differences by jurisdiction. So it's the best idea to check with a tax professional before you lease.

New Toyota Tacoma is More Expensive to Insure

New Toyota Tacoma is more expensive to insure than used Tacoma. Especially if you want to have more coverage types. For example, you might forgo collision coverage on a low-value used Tacoma. But most lenders don't allow you to do so on a new one that you are financing.

Click Here to Read More about Toyota Tacoma Insurance.

New Smell of New Toyota Tacoma

The new Toyota Tacoma smell contains volatile organic compounds off-gassing from new plastic interior surfaces. That's the reason it's a good idea to open the windows and hope the vaunted fresh Tacoma smell goes away as fast as possible.

Click Here to Read More about Buying a New Toyota Tacoma.

Advantages of Buying Used Toyota Tacoma

There are more benefits to purchasing a used Toyota Tacoma than a lower price. Many truck buyers wouldn’t get near a new Toyota Tacoma due to their high prices.

Used Toyota Tacoma is Less Expensive in Many Ways

Purchasing a used Toyota Tacoma will save you money when you buy, especially when auto insurance and tax are added. Though the interest rate on any financing will frequently be higher. The total amount of interest you'll pay throughout the loan will likely be lower since the price of the Tacoma is lower.

A used Toyota Tacoma can be easier to fit into a monthly budget. With lower used truck costs, you’ll get lower monthly payments. Then you can avoid the need to take out a loan that lasts six years or more.

Used Toyota Tacoma Doesn’t Take a Huge Depreciation Hit

The moment you drive a new Tacoma off a dealer's lot, its value begins to drop. It's called depreciation. Much of Tacoma’s value is lost during the first few years of ownership. Less depreciation occurring later in the truck’s life. By buying used Tacoma instead of new, you let the first owner absorb the massive depreciation hit, giving you a much lower-priced Tacoma that will depreciate more slowly as it ages.

Depreciation is one of the highest costs of car ownership, though you won't feel it until you sell the car and learn the vehicle's value.

You Can Buy a Better Tacoma Model

Because used Toyota Tacoma is much less expensive than a new one, you can buy a better Tacoma model than you might have otherwise been able to afford.

The price of a used Tacoma is mainly dependent on its mileage and condition. If you're willing to buy a Toyota Tacoma with higher miles or one that's not quite in perfect condition, you can get more cars for your money.

Click Here for Different Used Toyota Tacoma Prices.

It’s Easy to Explore the Used Tacoma History

Not knowing the history of a used Toyota Tacoma is one of the scariest aspects of buying a used one. Today, it's easy to learn about a vehicle's past by getting a history report from a company like Carfax.com or Autocheck.com. A car history report can show you the history, such as its maintenance record, The number of previous owners, and information about repairs.

A car history report doesn't replace a pre-purchase inspection from an independent mechanic. It can eliminate vehicles from contention before you waste time and money.

Disadvantages of Buying Used Toyota Tacoma

While buying a used Toyota Tacoma instead of the new one has a lot going on, getting a pre-owned Tacoma isn’t for everyone. There are many downsides to buying used trucks:

You Buy Someone's Discard

Ask those who buy new cars why they do so. They claim that they don't want to buy someone else's discarded car. By thoroughly studying the Tacoma history report and getting a pre-purchase inspection, the risk of purchasing a bad truck can be reduced. But it will never be eliminated.

Click Here to Know Does the Number of Previous Owners Affect Used Toyota Tacoma Price?

You Never Know Used Toyota Tacoma History

Toyota Tacoma history reports became thorough. But they are not perfect. Recent accidents may not be reflected in the reports. Unless an accident occurs, you'll never know how hard or easy the truck was driven.

Read about How Reliable is the Carfax?

Used Toyota Tacoma is Sold As-Is

The moment you drive a used Toyota Tacoma off a used Tacoma dealership, all of its problems belong to you. With exceptions like certified pre-owned Toyota Tacoma, you can't return a used Tacoma. The technical term is "as-is," It releases the seller from nearly any claim you can make against them for the truck’s failings.

There’s No Warranty Coverage for Used Toyota Tacoma

The only warranty you have with a used Toyota Tacoma is one you have purchased. Warranties from Toyota cover the new Tacoma. Except for certified pre-owned Toyota Tacoma.  Without a warranty, you'll have to pay for any repairs.

If you're purchasing a new or used Toyota Tacoma at a Toyota Tacoma dealership, they'll almost always offer you an extended warranty. Before buying at the Toyota Tacoma dealership, check with your auto insurance company to check if you can get a reasonable price or enhanced coverage.

Your Financing Will Likely be More Expensive

Used Toyota Tacoma generally requires higher-priced financing. In the value of the Tacoma being financed and the customer's credit risk, increased risk leads car lenders to charge more expensive interest rates on used Tacoma than they do on a new one. The more expensive the interest rate you have to pay, the higher your monthly payments will likely be.

To ensure that you're getting the best interest rate on your used Toyota Tacoma, you shop for financing before you shop for the truck.

Few Used Toyota Tacoma Deals are Available

It’s easy to find dealerships on the new Toyota Tacoma. But the only used Toyota Tacoma dealership you'll find is for certified used Tacoma.

Car Plus Finance is one of the best used Toyota Tacoma dealerships in Palos Verdes.

The Bottom Line

Do your research and ensure that the Toyota Tacoma model you are considering has good reviews and reliability. If you know nothing about Toyota Tacoma, you should have a trusted mechanic look over the truck for you, mainly if used.

 Assure you shop around for the best loan if you borrow money to purchase your Tacoma, and don't be worry about negotiating the best price possible for your used truck.

 Car Plus Finance is one of the best used Toyota Tacoma dealerships in Palos Verdes. Because we are the Number 1 used Toyota Tacoma dealership in Palos Verdes in sales, we can buy your used Toyota Tacoma at the best price to keep our wide selection of used vehicles growing. We also can offer lower prices and better trade-in offers than many competitors in the Palos Verdes area.

When selling your used Toyota Tacoma to a significant and reliable Used Toyota Tacoma Dealership like Car Plus Finance, transactions can be safely completed simultaneously.

Kenrick, S. 2021 (August, 10). Should I buy a new car or used car? iwikkteachyoutoberich

https://www.iwillteachyoutoberich.com/blog/cost-vs-value-should-you-buy-a-new-car-or-used-car/
 

Caldwell, M. 2021 (August, 23). Buying a New Car vs. Buying a Used Car: Which Should You Choose? thebalance

https://www.thebalance.com/buying-a-new-car-or-used-car-2385961

Vincent, J. 2019 (January, 21). New Cars Vs. Used Cars.Cars.usnews

https://cars.usnews.com/cars-trucks/new-cars-vs-used-cars