About 5 months ago I went to kbb.com and checked the trade in value of my 06 2WD V8 4Runner (base SR5 with tow package)with 32,000 miles. I had a trade in value of $24,500.00/private party $26,000. Today with 37,000 miles on the odometer kbb is reporting a trade in value 18,500/$21,500 private party. This is a big difference for such a short period of time.
Fast Depreciation
- Thread starter JP4RNR
- Start date
Register to hide this ad
G.I.G.
New member
There are a few different variables at work here....
First off, KBB is not the most accurate. Most car dealerships and lenders use NADA to price new and used vehicles. You might get a more accurate estimate using NADA. There is also the consumer NADA book value and the one the dealers use. Don't ask me why there is two but something to keep in mind.
Also, some vehicles depreciate more depending on region. I noticed that you have a 2wd 4Runner. Here in Colorado, you couldn't give away 2wd SUV of any make or model. I'm sure that is different in Southern California where you live, but just something to consider.
The best way to gauge the true value of your car is to price out similar make, model, year and optioned 4Runners in your area via Craigslist, Cars.com, etc. That will give you the best indication of what your vehicle is worth IMO.
First off, KBB is not the most accurate. Most car dealerships and lenders use NADA to price new and used vehicles. You might get a more accurate estimate using NADA. There is also the consumer NADA book value and the one the dealers use. Don't ask me why there is two but something to keep in mind.
Also, some vehicles depreciate more depending on region. I noticed that you have a 2wd 4Runner. Here in Colorado, you couldn't give away 2wd SUV of any make or model. I'm sure that is different in Southern California where you live, but just something to consider.
The best way to gauge the true value of your car is to price out similar make, model, year and optioned 4Runners in your area via Craigslist, Cars.com, etc. That will give you the best indication of what your vehicle is worth IMO.
BigRig
New member
I've been looking at 04/05 models recently to replace my current car and one reason you may have seen some of that drop is because its now out of warranty (assuming 36k). To me, at least, that is a big deal when looking at used vehicles. It is definitely more expensive to buy at 35,000 miles than at 36,001. That seems like it would only be part of it though, that is a pretty big drop.
I work for a dealer, so I will give me .02
A few things are influencing trade in values for the 4runner.
1) In the Pacific Northwest region 4runners are going for very little at Auction. All dealers research auction prices when evaluating a trade. If they can purchase a car at auction for less, why would they pay more for your vehicle?
2) Incentives kill resale value. The reason Rav4's, Prius...etc. continue to have high resale values is because you will never see an incentive for them. Right now the 4runner has big incentives....causing the values to go down.
A few things are influencing trade in values for the 4runner.
1) In the Pacific Northwest region 4runners are going for very little at Auction. All dealers research auction prices when evaluating a trade. If they can purchase a car at auction for less, why would they pay more for your vehicle?
2) Incentives kill resale value. The reason Rav4's, Prius...etc. continue to have high resale values is because you will never see an incentive for them. Right now the 4runner has big incentives....causing the values to go down.
E
Even Steven
Guest
josh220 said:
They have outstanding resale value when you compare them with other vehicles within the same class.
Go see what a Jeep Commander or Jeep Grand Cherokee is worth at the same age & mileage compared to a 4Runner. Better yet, do a comparison with a Ford Explorer of the same age and mileage. Then you'll see how much better our resale value is over the others within the class.
I decided to donate my 1996 Exploder to charity. No brakes, power steering leaked, 118k miles...wasn't worth the effort to sell it myself.
But, as for resale vlue of thr T4R...I just paid $23,995 for an '04 v8 limited w/ 45k miles (in mint condition, I have to add). That wasn't a steal but was a pair market price compared to other 4Runners with similar options (loaded) and mileage. MSRP was over $41k 3 years ago!
But, as for resale vlue of thr T4R...I just paid $23,995 for an '04 v8 limited w/ 45k miles (in mint condition, I have to add). That wasn't a steal but was a pair market price compared to other 4Runners with similar options (loaded) and mileage. MSRP was over $41k 3 years ago!
Last edited:
pmrowczynski
New member
When I went looking for a new 4Runner, I started with 2006's and wanted particular options (color, 4wd, etc.) and basically saw an $8k difference between the 2006's and 2008's. Because it was so close, I simply went with a new one.
2006 gray 4wd limited 31000mi - 26000 in MD
2006 shadow mica 4wd x-reas rear air suspension limited & navigation 31000mi - 31000 in MD
2008 shadow mica 4wd x-reas rear air suspension limited & navigation 4mi - 39000 in KY
Two years and mileage -- it was sooo close plus the other ones around the same price (+/-1000) were selling faster than I could find the ads on oodle.com
2006 gray 4wd limited 31000mi - 26000 in MD
2006 shadow mica 4wd x-reas rear air suspension limited & navigation 31000mi - 31000 in MD
2008 shadow mica 4wd x-reas rear air suspension limited & navigation 4mi - 39000 in KY
Two years and mileage -- it was sooo close plus the other ones around the same price (+/-1000) were selling faster than I could find the ads on oodle.com
It holds resale value very well compared to others.
Its all in what someone wants , if a dealer has NO used V6's they would give you more as compared to if they have 5 on the used lot already , same goes for the V8. Always good to shop around your trade.
Every dealer is different , and bottom line it's only worth what someone will pay for it or what they are in the market for.
I agree a 2wd 4R will not hold its value as a 4wd. Here in WI it's all 4wd , I've never seen a 2wd on the lot.
Its all in what someone wants , if a dealer has NO used V6's they would give you more as compared to if they have 5 on the used lot already , same goes for the V8. Always good to shop around your trade.
Every dealer is different , and bottom line it's only worth what someone will pay for it or what they are in the market for.
I agree a 2wd 4R will not hold its value as a 4wd. Here in WI it's all 4wd , I've never seen a 2wd on the lot.
I agree with Barc11, where rebates and price reductions have adversely affected the price of used vehicles.
Here is Canada, the pricing schemes are seeking to reduce MSRP in Canada a bit closer to the US market, which, while reducing prices for new units has also reduced trade in values for used units.
I am not sure if we are further ahead?
My wife traded her 18 mo old Chev Avalanche for a new 08 Tundra and she owed more on it than she got in trade-in value.
Here is Canada, the pricing schemes are seeking to reduce MSRP in Canada a bit closer to the US market, which, while reducing prices for new units has also reduced trade in values for used units.
I am not sure if we are further ahead?
My wife traded her 18 mo old Chev Avalanche for a new 08 Tundra and she owed more on it than she got in trade-in value.
I don' t know about you, but my friend would love to get his hands on a used 4runner. The problem is, the value just stays in these vehicles better then a lot of other suvs in the same category.
If I had to buy a 4runner again, I'd definatly consider auction sites as an option. i.e. ebay
If I had to buy a 4runner again, I'd definatly consider auction sites as an option. i.e. ebay
