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Old 04-25-2021, 06:11 PM #1
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Question about buying a used 5th Gen

Looking for a used 5th gen 4x4 and trying to stay under $30K. In my research to this point, it looks like the changes made to the 2014 are not biggies, but the price difference between the 2014+ and 2013- with similar goodies and mileage seems bigger than I would have thought. Are the 2014+ just more sought after because of the gauges, a little minor body work, and head/tail lights, or is it just my imagination the price jumps after 2014?

Edit - Actually, just reading the 2014-2015 had more issues than other years. Is this common?
The Worst Used Toyota 4Runner Model Years

Toyota 4Runner Problems | CarComplaints.com

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Old 04-25-2021, 07:00 PM #2
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2014, as you mentioned, was a facelift. 2010-2013 Trails are quite sought after. This is the worst time to buy a used 4Runner that has ever been. Various market forces have conspired to increase prices on used models to an unprecedented level. Good time for research. Good time to wait until prices return to something that is not insane.
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Old 04-25-2021, 07:33 PM #3
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Quote:
Originally Posted by 5thToy View Post
2014, as you mentioned, was a facelift. 2010-2013 Trails are quite sought after. This is the worst time to buy a used 4Runner that has ever been. Various market forces have conspired to increase prices on used models to an unprecedented level. Good time for research. Good time to wait until prices return to something that is not insane.
yeah, tell me about it! What "various market forces" do you mean? Gas is on the way up and interest rates are still reasonable for New. My old Dodge pickup is on it's last legs, and don't know how long I can keep my wife at bay on getting a newer vehicle (long story). :
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Old 04-25-2021, 09:23 PM #4
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Originally Posted by RobS10 View Post
yeah, tell me about it! What "various market forces" do you mean? Gas is on the way up and interest rates are still reasonable for New. My old Dodge pickup is on it's last legs, and don't know how long I can keep my wife at bay on getting a newer vehicle (long story). :
The pandemic stalled or closed auto and subassembly plants over the past year. In addition, there have been a few extreme weather events, one in particular affecting 4Runner production in Japan, and another knocking down chip production in Texas.

Then there is a global chip shortage affecting everything, mostly based upon production cuts over the past year and resources focused on a newer generation of chips, resulting in the wrong mix of chip generations on the market to feed auto production. Many car makers have been forced to shut down assembly plants. 42% of the average car value is in electronics. Inventory is crazy low, so used cars are in demand.

It's a perfect storm where two and three year old 4Runners are selling for more than they did new. There is a multi-page thread on the front page with examples.

Last edited by 5thToy; 04-25-2021 at 09:29 PM.
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Old 04-26-2021, 07:59 AM #5
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Originally Posted by 5thToy View Post
The pandemic stalled or closed auto and subassembly plants over the past year. In addition, there have been a few extreme weather events, one in particular affecting 4Runner production in Japan, and another knocking down chip production in Texas.

Then there is a global chip shortage affecting everything, mostly based upon production cuts over the past year and resources focused on a newer generation of chips, resulting in the wrong mix of chip generations on the market to feed auto production. Many car makers have been forced to shut down assembly plants. 42% of the average car value is in electronics. Inventory is crazy low, so used cars are in demand.

It's a perfect storm where two and three year old 4Runners are selling for more than they did new. There is a multi-page thread on the front page with examples.
Thanks for the background. I did read about the chip shortage, and that makes total sense in why there is a shortage in new vehicles, and higher prices for low mile used ones.

Do you feel there is much of a difference in demand though for the 2014+s over the earlier 5th gen? Seems like that's where the prices jump more. These things go for more than some Lexus SUVs!
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Old 04-26-2021, 01:36 PM #6
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Quote:
Originally Posted by RobS10 View Post
Looking for a used 5th gen 4x4 and trying to stay under $30K. In my research to this point, it looks like the changes made to the 2014 are not biggies, but the price difference between the 2014+ and 2013- with similar goodies and mileage seems bigger than I would have thought. Are the 2014+ just more sought after because of the gauges, a little minor body work, and head/tail lights, or is it just my imagination the price jumps after 2014?

Edit - Actually, just reading the 2014-2015 had more issues than other years. Is this common?
The Worst Used Toyota 4Runner Model Years

Toyota 4Runner Problems | CarComplaints.com

I wouldn't put much credence to 2014-15 being more problematic than other years. Sure, there are complaints but many issues they list are common among 5th gens. The infotainment system does suck and is why so many have upgraded to aftermarket head units.

Staying under $30K will be difficult in current market conditions. I'd say keep looking with an open mind and accept that spending a bit more than planned may be necessary.
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Old 04-26-2021, 01:49 PM #7
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I wouldn't put much credence to 2014-15 being more problematic than other years. Sure, there are complaints but many issues they list are common among 5th gens. The infotainment system does suck and is why so many have upgraded to aftermarket head units.

Staying under $30K will be difficult in current market conditions. I'd say keep looking with an open mind and accept that spending a bit more than planned may be necessary.
I think you're right about the realistic budget. I went from looking at 1st Gen Sequoias and 4th Gen 4Runners at around $16-18K to the 5th Gen at nearly twice that. It's tough to swallow, but the wife doesn't want to buy another old truck, and am coming to the same conclusion. I still love our 3rd Gen, but ready for something with some of the improvements in convenience and safety technology. I remind myself when we bought it in 2004, it was only 5 years old, which puts us in a 2015-16, so going to use that as my rationalization. But of course we only paid $16K back then, with 65,000 miles on it ;-).
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Old 04-26-2021, 01:57 PM #8
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It's a tough situation for sure. Buying recent model year Toyota trucks has always been somewhat of a questionable choice since they maintained so much value that new trucks were generally available for only a little more money. But now that new vehicles are hard to find it's very difficult all around. (my local huge volume Toyota dealer has literally 0 new 4Runners, when they used to keep 70+ in stock).

I think part of what we're seeing is also a general demand increase for older, simpler vehicles, as well as an increase demand in offroad vehicles. Even the 3rd Gen 4Runner market is going up and up. I bought a 2002 4Runner 2 yeas ago for ~$7k with 165k miles and sold it a year and a half later with 175k miles for $11k.

We all have our own budget constraints, but if it were me deciding between a 6+ year old 4Runner with 60-80k+ miles for $30k or a new model for ~$40-45k I'd personally go new.
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Old 04-26-2021, 02:03 PM #9
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Thanks for the background. I did read about the chip shortage, and that makes total sense in why there is a shortage in new vehicles, and higher prices for low mile used ones.

Do you feel there is much of a difference in demand though for the 2014+s over the earlier 5th gen? Seems like that's where the prices jump more. These things go for more than some Lexus SUVs!
I'm not sure I can offer anything meaningful regarding the differences in market demand pre and post facelift, but it doesn't surprise me that there is a demarcation there due to updates. It's just a question of whether or not those are important to you and where you fall on budget vs. age/mileage.
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Old 04-26-2021, 02:29 PM #10
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We just (2 weeks ago) paid $42K (OTD) for 2019 SR5 with 16+K miles. That was really just a little more than ones with 2x or 3x the mileage. It was listed on Saturday & we were there at 9:30. Salesman said 3 other couples had looked at it and 3 dealers called. There were some others (only 2) around this area.
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Old 04-26-2021, 02:48 PM #11
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We just (2 weeks ago) paid $42K (OTD) for 2019 SR5 with 16+K miles. That was really just a little more than ones with 2x or 3x the mileage. It was listed on Saturday & we were there at 9:30. Salesman said 3 other couples had looked at it and 3 dealers called. There were some others (only 2) around this area.
Sounds like yours was almost new! $42K is definitely outside our budget, and Insurance will most likely be higher as well. I have no problem with something with a few miles on it, just have to find the right one
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Old 04-26-2021, 04:55 PM #12
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Quote:
Originally Posted by RobS10 View Post
Looking for a used 5th gen 4x4 and trying to stay under $30K. In my research to this point, it looks like the changes made to the 2014 are not biggies, but the price difference between the 2014+ and 2013- with similar goodies and mileage seems bigger than I would have thought. Are the 2014+ just more sought after because of the gauges, a little minor body work, and head/tail lights, or is it just my imagination the price jumps after 2014?

Edit - Actually, just reading the 2014-2015 had more issues than other years. Is this common?
The Worst Used Toyota 4Runner Model Years

Toyota 4Runner Problems | CarComplaints.com
Keep in mind that 'more issues than other years' when referring to 4Runners is almost like saying they had 2 problems and the other years had 1. I know, a little exaggeration there, but Consumer Reports in 2017 named the 4Runner the most reliable vehicle you could buy, and that would encompass the year range you're looking at. If I were looking for a Gen5 for myself, I don't think the year range would put me off. Plus, you're in CA where road salt doesn't exist, so your chief deciding factors may be miles and money. Keep looking - you'll find the right one.
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Old 04-26-2021, 05:21 PM #13
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Keep in mind that 'more issues than other years' when referring to 4Runners is almost like saying they had 2 problems and the other years had 1. I know, a little exaggeration there, but Consumer Reports in 2017 named the 4Runner the most reliable vehicle you could buy, and that would encompass the year range you're looking at. If I were looking for a Gen5 for myself, I don't think the year range would put me off. Plus, you're in CA where road salt doesn't exist, so your chief deciding factors may be miles and money. Keep looking - you'll find the right one.
Finding out how common is exactly why I'm here :-).
Rust - I have crawled under a couple 1st Gen Tundras when I looked at them years ago. Most had only a smattering of frame rust. But I did look at one that was owned by a guy who lived close to the beach. It was pretty worrisome to see some of the really active and aggressive looking frame rot on it. At least it's something that's easy to spot.
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Old 04-26-2021, 06:21 PM #14
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Got a 14' last Nov had 89k on it & some dings paid 23k ! Ain't had a problem yet fingersx ! Not sure where you're located but something from left coast would be little safer imo , rust & what not !
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Old 04-26-2021, 06:30 PM #15
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Do you have specific requirements? Rear locker? low miles? Because 30k can easily buy a 5th gen for 20k with slightly higher miles, 5k for a lift, tires, etc, and 5k left for maintenance and parts.
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