Is High Resale Value a killer?

[hayde89]

I am currently in the process of selling my 2016 Trail Premium but I am having a hard time determining how to price it. I have had it up for 2 weeks with zero calls. Couple local tire kickers I suppose. It is clean inside and out. It does have KDSS as an option as well. The only reasonings I can think of is perhaps it's priced too high because after all they have great resale value but many consumers are put off by that and would rather buy new. I know this was the case for me when I purchased but I never imagined I would have such a hard time selling. The truck is completely stock now and has 29k according to KBB I should be able to sell for a little over $36,000. I have it set at $36,000. MSRP is 41,000 which obviously it can be had for a little less because I bought at invoice at $38,800 not including taxes and fees. What do y'all think it should be worth and what are your opinions on why this thing is so hard to sell? This isn't my first rodeo selling a car but man all I am hearing is crickets

 

[Rightside Up]

Like you just said.
For a few thousand more, people can buy new.

 

[hayde89]

Like you just said.
For a few thousand more, people can buy new.

Agreed. That is what I did but that makes me change my thought process that I had when buying. A huge selling point was that the 4runner has really high resale value. But is that really a selling point if it cannot be realized?

 

[Rightside Up]

Agreed. That is what I did but that makes me change my thought process that I had when buying. A huge selling point was that the 4runner has really high resale value. But is that really a selling point if it cannot be realized?

You need to keep it longer to benefit from it.

 

[TacoRunn0517]

I would guess that with newer 4Runners, your value will probably more appreciated as a trade-in. The reason why I bought my 4Runner new is the same reason why you have no bites: there isn't much incentive to buy a lightly-used 4Runner. With price points similar, I'd pony up a couple more $ to ensure that I can treat the vehicle how I want to from inception.

 

[MannMade82]

I hate to make the suggestion... but have you tried seeing what Carmax will give?

I suggest CarMax as well. I took my wife's old car there and I was surprised how reasonable the offer was. Eventually I sold the car on my own...but it's worth the 30 minutes to get a baseline.

 

[Toffees]

I am currently in the process of selling my 2016 Trail Premium but I am having a hard time determining how to price it. I have had it up for 2 weeks with zero calls. Couple local tire kickers I suppose. It is clean inside and out. It does have KDSS as an option as well. The only reasonings I can think of is perhaps it's priced too high because after all they have great resale value but many consumers are put off by that and would rather buy new. I know this was the case for me when I purchased but I never imagined I would have such a hard time selling. The truck is completely stock now and has 29k according to KBB I should be able to sell for a little over $36,000. I have it set at $36,000. MSRP is 41,000 which obviously it can be had for a little less because I bought at invoice at $38,800 not including taxes and fees. What do y'all think it should be worth and what are your opinions on why this thing is so hard to sell? This isn't my first rodeo selling a car but man all I am hearing is crickets

High resale value is fabulous. Your problem is your 4R is too new, and too much like what a buyer can get off the lot and for a similar price. If yours was 2 years older and had 20,000 more miles, people would snap off your hand to buy it in the low $30s.

It's a perception issue--surely you're selling a "lemon"

Related--how are you replacing the 4R and why not/didn't you trade it in? You'd lose some value, but save the tax difference.

 

[dot_tom]

I agree with previous statements. Need to hit that 3+ year mark in order to really see the value in high resale.

 

[hayde89]

High resale value is fabulous. Your problem is your 4R is too new, and too much like what a buyer can get off the lot and for a similar price. If yours was 2 years older and had 20,000 more miles, people would snap off your hand to buy it in the low $30s.

It's a perception issue--surely you're selling a "lemon"

Related--how are you replacing the 4R and why not/didn't you trade it in? You'd lose some value, but save the tax difference.

Agreed. Well here is the kicker. I am not selling for something new. I am just sick of car payments and would like to elimiate the obligation from my life. I love the 4runner but I can be just as happy is a 2006 land cruiser. It is not a matter of not being able to afford it. So I suppose I could just sit on it longer. But I have been thinking of the CarMax route just to get a base.

 

[wfo9]

There is no such thing as an accurate re-sale value. Its what ever the market is willing to pay at a given moment for that truck, in that location... the 36k number is probably too high at this point.

The platform is so aged.. I predict the used prices should be dropping rapidly soon, but hard to predict.. depends a bunch on what the new market offers. In general. used car truck prices have been way too high lately for what you get. So anyone with funds.. just buys new and gets more for their money.

 

[hayde89]

High resale value is fabulous. Your problem is your 4R is too new, and too much like what a buyer can get off the lot and for a similar price. If yours was 2 years older and had 20,000 more miles, people would snap off your hand to buy it in the low $30s.

It's a perception issue--surely you're selling a "lemon"

Related--how are you replacing the 4R and why not/didn't you trade it in? You'd lose some value, but save the tax difference.

PS thanks for the read. I enjoyed it and agree with the point being made.

 

[smallfry]

Wait..there is someone else floating around in Ogden besides me. :laugh:

 

[e60ral]

The platform is so aged.. I predict the used prices should be dropping rapidly soon, but hard to predict.. depends a bunch on what the new market offers.

if they soften the 6th gen, 5th gen resale values will stay high for a long time

 

[vintage]

I used to be in the car business years ago. Selling a car is like going fishing. If fish aren't bitting you need to lower your bate. Meaning you need to lower the price of the car. Try dropping the price at $1000 increments until your phone starts to ring. Also get it advertised on as many sites as possible, the more the better. Example: Ebay-motors, Auto Trader, Criags List and your local new paper. Good luck. layball:

 

[TacoRunn0517]

High resale value is fabulous. Your problem is your 4R is too new, and too much like what a buyer can get off the lot and for a similar price. If yours was 2 years older and had 20,000 more miles, people would snap off your hand to buy it in the low $30s.

It's a perception issue--surely you're selling a "lemon"

Related--how are you replacing the 4R and why not/didn't you trade it in? You'd lose some value, but save the tax difference.

It's interesting that you bring up up the perception issue because I went through that same process when purchasing my TE. There was used 2015 4Runnner SR5 someone had traded it in to purchase a new Honda. The SR5 had 990 miles on it when I test drove it (April-May 2017). I wasn't going to purchase it but wanted to finally drive the 5th Gen 4Runner. I just kept thinking to myself why would someone get rid of vehicle like that with so little miles. The Honda dealership wanted $31K before TTL. With that being the case, I knew I was better off getting new and fortunately was able to get an "old" new stock TE.

 

[smangrum44]

For what it's worth, I just bought a 2015 Trail Premium no KDSS with 35k miles for $30,500.

I agree that yours is too new. It's the exact vehicle I was looking for, and I would have paid a dealer a few thousand more just to start with a clean slate before I would have paid you $36. I ended up settling for no KDSS because I felt I found a good deal. Trails are very tough to come by in my area for some reason. Plenty of Limiteds and 2wd SR5s available to pick up the kids from soccer practice.

 

[Liquid_G]

I've been shopping for a few weeks at something 2-3 years old but basically stopped and now looking at new because of the high resale value. Good and bad thing I guess.

 

[Toffees]

PS thanks for the read. I enjoyed it and agree with the point being made.

Glad you enjoyed it. There's better explanations of the lemon problem on the internet, but I put in a whole 30s of research so wiki was the best I could link up.

 

[hayde89]

Wait..there is someone else floating around in Ogden besides me. :laugh:

Yep, I am here. I have seen you around town but never had the opportunity to speak.

 

[rzgkane]

If fish aren't bitting you need to lower your bate.

And sometimes you just need to keep fishing. Things go in cycles. Sometimes there just aren't any folks in your area looking for what you're selling. A month or two later, you're getting calls even though your price has stayed the same.

Personally, I would not pay $36K for something I could have new for (like the OP said) $38K+. Why would anyone? So in this instance he may be overpriced.