Are gas prices making our 4Runners loose their value?

[arouth]

I've been reading about how used car lots are filling up with SUVs, so I was just wondering about the resale value of the 4Runner.

Also, when I go to edmunds.com my 4runner appraises for just under $19,000, but when I go to kbb it appraises for $16,500. Do you guys know why their is a $2500 difference?

Mine is paid off though, so I'm not planning on selling it. Just curious.

 

[MikeinCincy]

I would assume so, but it's hard to gauge how much value is being lost. It's just so terrible. I bought my 4Runner in November of 2007, a little over 6 months ago. I remember it was costing my around $60 to fill up. Now, it's about $80 to fill up. Gas in my area, Cincinnati, is at $3.95 for regular. It's absolutely ridiculous. I am really taking her easy and driving in 2 wheel drive all the time.

 

[RonMAIDEN]

It's more the general market for vehicles that get under 20mpg and unfortunatly we're taking a hit but I do think they'll (all 4Runners) still hold their value better than the competition like always.

 

[Neversummer]

Yes, and killing sales.

 

[kimboy]

I think inflation would beat the crap out of everything, except for energy stocks, agriculture and some technology companies.

 

[neoflex]

One of the reasons why we are getting a 4 Runner is I can't afford to keep my Rubicon which gets 10 mpg. Plus the fact that I work 50 miles away from home and ended up buying a Civic to commute with and the wife has been driving my Rubicon everyday. Even with gas prices where they are, I do not see the midsize SUV market going away. Hurt yes, but not disappearing. I do think the Yotas and Honda will hold their value better than most. GM products on the other hand will be worthless IMHO.

 

[arouth]

Just curious, one of the questions I asked wasn't answered...which appraisal is more accurate edmunds or kbb? There is a $2500 difference b/w the two websites.

Unfortunately, it seems kelly blue book is the standard across the indusrty...

 

[ndrwdvs]

2005 4 Runner LTD AWD MPG

I think the different "book" values are for dealers' use in order to give you the least for your trade-in. That's only from my experience, anyway.

On another note, I have been reading up on "hypermiling". My son is getting 45 mpg with my old Rav4, and has been encouraging me to try it. I drive a 2005 $runner Ltd with AWD and 4.7 ltr v8 automatic tranny and everything else standard.
I'm new at it, and just Googled "hypermiling" yesterday, but I have been trying on my own without their info for about 150 miles this tankful, and I started using their methods yesterday. I am now up to about 190 miles so far on this tank, and per the dashboard mpg computer, I'm getting 23.9 mpg.
Anyone getting better? Are any of you trying this technique? I'm not a "die hard" hypermiler, meaning I try not to disrupt traffic, so I could probably do a lot better. I'm trying at this point to get better mileage every tankful, but don't want to make any modifications to my truck.

 

[toto]

Just curious, one of the questions I asked wasn't answered...which appraisal is more accurate edmunds or kbb? There is a $2500 difference b/w the two websites.

I've always found that Edmunds is high and KBB is low, but an average of the two is a pretty realistic number.
When I bought my 4Runner, I was surprised that during the negotiations, the dealer brought over a KBB.com appraisal of my trade to point out how my trade was worth less than I thought. I didn't fall for it.

You really can't say that any Web site or book is truly accurate. A tactic that I've seen dealers use when appraising a trade-in is to call other dealers - especially those of the brand of car you're trading - to get an idea of the most recent auction sales.

So, in addition to checking KBB and Edmunds, I check the prices of similar vehicles sitting on used car lots and at Carmax. Keep in mind that the seller probably got $2000-$3000 less for a trade-in than what the dealer's asking price is. That way, the dealer can negotiate down with a buyer and still make money. That explains the three values you get from KBB and Edmunds - trade-in, "private party", and dealer retail. The middle one - private party - is what a buyer would realistically pay.

As for the other question - are our 4Runners losing thousands of dollars overnight? The real answer is no, although there is a lot of media hype and angst among the public like there's something magic about $4.00/gallon. We just had a recent thread about how the media often creates their own negative reality. The 4Runner is a hard sell today, but won't be as bad once the hype blows over. Some people will still want an SUV forever, and I'd take one made by Toyota over one made by one of the "big three".

 

[majmattmason]

If life has taught me anything it is that the majority of people act like lemmings. The typical media types are at the forefront of this group.

Do you need to transport several people at one time? Do you need to haul stuff that doesn't fit into a small car? How will you do it? What will construction workers do with their trucks that get "low mileage" (determined by some arbitrary method), will they start to drive Yugo's? How will folks haul a trailer for work or pleasure? I own a MINI also, I'm not about to try and hook up a trailer to that little toy.

If you need a truck, drive a truck. If you need a small car, drive a small car. If you buy a car and sell it two to three years later, then you better expect to pay a price for being dense. A car is not an investment. It is a machine that loses value over its entire life. Keep it until it falls apart and don't worry about "loss of value" because it won't matter to you. You will get the full value of what you bought it for in the first place.

A great quote to remember: "We buy stuff we don't need to impress people we don't like."

Don't be foolish with your money, and don't be a lemming.

 

[arouth]

Yeah, from watching the news it's like the media is shocked about $4 a gallon when everyone knew it was coming. You are right about a car being a bad investment. I've had my 4runner for 4 years now, and I'm thinking I'll keep it at least another two years.

Also, to get a new vehicle at this point would be "spending thousands to save hundreds". My 4runner appraises for 16-19 thousand, so I'm pretty sure a hybrid would cost more than that.

 

[blaniac22]

Give me a vehicle where I can comfortably carry 2 kids, a dog, some beach or camping gear, make the occasional Home Depot trip for some average DIY projects, the monthly Costco run and still be comfortable enough to drive everyday

That spells 4Runner to me - a cross between reliability, comfort, styling and functionality.

When you look for a vehicle like that the miles per gallon don't vary much....not enough to get rid of my 4Runner.

 

[Falls]

The gas prices always have a ripple and causes everything to loose it's value . Simply because people are hanging on to their money right now because of the increase in everything due to gas.

IMO very few things are immune to this unfortunate situation. Even the gas station owners are hurting because of it because ALOT more people are charing gas instead of cash paying which take 4% off their bottom line , and people not buying things in their store either.

Many of you have advantages over me since your 4R is not your primary vehicle. Although I'm happy with my milage , but when you drive 20-25k per year you feel the pinch.

My Ford Escape 4x4 V6 does not get good milage either. Actually about where my 4R is at .

 

[Odd Eddie]

I don't worry much about gas prices. I refuse to drive an econobox that gets good gas mileage because it is a sacrifice to my safety. With the roads full of trucks and SUVs, I'd rather pay a bit more to drive a vehicle with some size and weight behind it than to save a few bucks and get squashed in a tin can of a car!

As for trade-in values....well, sure the higher prices are having a negative effect, but that's true for all similarly sized SUVs. I'd bet that the 4Runner values are holding up much better than Chevy Trailblazers and Ford Explorers!

 

[Falls]

I'd bet that the 4Runner values are holding up much better than Chevy Trailblazers and Ford Explorers!

Thats a given no matter what gas prices are or the economy is. They just dont hold resale , never have , probably never will.

 

[Uneek]

It's losing value, see this CNN article.

 

[Odd Eddie]

It's losing value, see this CNN article.

I think the midsize SUVs will be the hardest hit of all. Here's why: The small cross-over SUVs are relatively economical, so many people will probably continue to buy them. The large SUVs are driven by a lot of die-hard SUV guys, so it may take a lot to get them out of their big SUVs. The midsize guys like us are more likely to move into cars or smaller SUVs with better fuel economy. That's just my theory and I'm sticking to it!

 

[webe363]

gas prices are to autos what mortgage rates are to homes----total cost to own....you're an idiot if you don't think it will make a difference. i bought my 4runner with the intention of driving it until it disintegrated so i don't really care if the depreciation accelerates b/c of $4 per gallon since i don't ever intend to realize the loss anyway. like one poster above mentioned, find me a vehicle that tows 6k lbs, can do serious offroad(not just a dirt road), carries groceries, kids, gear, etc., etc., and can get 22mpg hwy. there is only one = 4runner.

 

[ndrwdvs]

Hmm, no one seems interested in Hypermiling here. It may seem crazy in a 4Runner, but I will keep you posted (gor awhile at least) on my progress. Right now, the onboard computer says 24.3mpg average. I haven't done anything but change the way I drive.

 

[Odd Eddie]

Hmm, no one seems interested in Hypermiling here. It may seem crazy in a 4Runner, but I will keep you posted (gor awhile at least) on my progress. Right now, the onboard computer says 24.3mpg average. I haven't done anything but change the way I drive.

Hypermiling is a great concept, but it doesn't work for me because I find more enjoyment in swift acceleration and at times just putting my right foot to the floor.

Of course my 4Runner is no sports car, but I still like to feel the acceleration and get moving quickly when I feel the urge. I'd get bored quickly by very light acceleration. As for the other aspects of hypermiling--I do them already. I anticipate stops and usually start coasting toward them much sooner than the average driver.