How big is the used car market for 4Runners?

[oh6SR5]

I am looking at selling the 4Runner to get out of the negative equity that I rolled into it. The KBB private value is $25,300 and the retail is $27,xxx. I want to sell for around 24,500 for a 2006 SR5 4x2 V6 with 21k miles. I called Toyota and even though I am leasing, the person who bought it could write Toyota a check and they would send the title to them. Also, the warranty and pre-paid maintenance transfers with the vehicle. Does this sound like a good deal?

 

[Road Warrior]

I think that might be a bit steep...but I doubt that's what you want to hear. Let me explain...I bought an 06 SR5 4X4 with 24K miles for $23,995.00 back in July. And that's up hear in YANKEE land where 4X4's command top value due to the winter snow thing. I had to drive to another state (PA) to get the vehicle, but it saved me around 2K$.

The best way to figure out what you can get for any vehicle and how much they are worth in the retail market is to keep an eye on the wholesale auction prices, which is difficult unless you know someone 'in the business'. When buying a used vehicle I think KBB is worthless and costly (priced too high). Edmunds is closer, but the market is really dictated by supply and demand, which trickles down from the manufactured supply from the auto OEM's.
There's probably some dealers on this site that can assist you!
Good luck.

 

[oh6SR5]

I know it might seem a bit steep, but 95% of the dealers around here are selling 4runners for more with more miles. Plus, V6 4x2 are more in demand here in Memphis TN where it might snow once a year. Obviously I would come off of that price some.

 

[Even Steven]

I know it might seem a bit steep, but 95% of the dealers around here are selling 4runners for more with more miles. Plus, V6 4x2 are more in demand here in Memphis TN where it might snow once a year. Obviously I would come off of that price some.

In more demand? I would think 4wd 4Runners are in higher demand in just about any location.

 

[oh6SR5]

Why would you say that? Memphis is a flat town with no bad winters. People here care more about gas mileage than going off road or having a V8.

 

[toto]

You don't need to be "in the business". Another way to gauge your market is to look at what price dealers are putting the used units on the lot. Basically, you go used car shopping for your own vehicle. You want to find as many units as you can in your geographic are that have similar options.

Once you know what the "list price" is for your used car based on that research, then you need to understand what Edmunds and KBB are telling you. The wholesale/trade-in value is what the car would be worth at auction, so that's the "dealer's cost". That's what the dealer would give you for it on a trade-in. The private party sale price is what you would realistically expect an individual buyer - either private party or at a dealership - to pay for the car. The "retail price" shown by Edmunds/KBB is what the dealer sticks it on the lot for as "list price" or "sticker price". Just like with a new car, the dealer has to have room to negotiate down from the sticker price.

Typically "private party" is about $1000-$1500 below "retail", and wholesale is about $2000-$3000 below "retail".

I've had the opposite experience with Edmunds and KBB - I find that Edmunds is usually the higher of the two. Using an average of the two is a pretty good number.

 

[Road Warrior]

Toto,

No argument here. I probably didn't explain my point clearly enough. If a car is sitting on a lot, that means it hasn't yet sold and is costing the dealer money. The fall back postion of any dealer is 'well, if it doesn't sell I can always take it to a wholesale auction and get $XXXXX.XX dollars for the car.'

Knowing what the car is going for at auction can allow you to make an offer on the car low enough to get a good deal, but no higher than you need to, just enough to prevent the dealer from taking the used vehicle to a wholesale auction.

 

[Even Steven]

Why would you say that? Memphis is a flat town with no bad winters. People here care more about gas mileage than going off road or having a V8.

I think most people who care about gas mileage wouldn't be looking at a 4Runner in the first place.

 

[oh6SR5]

True above, but if someone is dead set on a 4Runner and the engine doesn't matter, they probably would go with the V6. Perfect example, my girlfriend was looking for a 1 or 2 year old used vehicle a few weeks back. At our local Toyota dealer, there was a V6 and a V8 SR5 that were almost identical. The only reason she liked one over the other was because the V6 got SLIGHTLY better gas mileage. But, in the end, she ended up with a 08 Camry (4 cylinder).

 

[4RunnerBarbie]

My two cents...(and this is from a girl who wanted a 4x4 V8 but got a 4x2 v6 because it was cheap) If someone is dead set on a 4runner but is worried about the gas money they are also going to be worried about paying to much for the 4runner and want it to be dirt cheap. I don't think your girlfriend is a good example of your point, mostly because...she bought the Camry.

As far as 24,500 for your 4runner...I think that compares to about what I saw at dealers 2 months ago while shopping for mine. And if it came down to paying that to a person or a dealer I'd go with the dealer.....3k warranty with them and if something went HORRIBLY wrong I know they would do more to fix it because they would want to keep their "good name"

But that is just my girlie input.

 

[oh6SR5]

Well, all of the warranties transfer (36k and 45k) and so does the prepaid maintenance.

 

[qs933]

In more demand? I would think 4wd 4Runners are in higher demand in just about any location.

I think we had this debate before. It all depends on the specific area. You can't assume that what's popular in your area is as popular everywhere else in the country.

In my area, 2WD V6 4Runners make up the majority of the new sales (yes, most of us are just "mall-runner" wannabes ). Guess which 4Runner is easier to sell on the used market here?

 

[oh6SR5]

Well, I listed in in Autotrader starting at 24,900 (Which is the lowest in the area for a SR5 V6 4x2.) but I made it clear I would come off the price. I will probably come off that price $1,500 -$2,000 and lower the price every month I make a payment.