My 04' 4runner won't sell...what gives?

[Loki]

I've spent over 130 bucks so far advertising this truck for 3 weeks and not a single phone call. I tried autotrader.com, and the local newspapers. It's a loaded white 2004 Sport Edition 4wd, 32k miles. I'm asking 22,900.. Is this too much? I'm trying to figure out what the problem is here. Any help is appreciated; this is getting frustrating.

 

[Colemanfu]

I don't like hearing that. I just made my last payment and was wondering when I should move on? I was thinking next fall? Save till then and use the savings and $ from selling to upgrade.

It's a balance between milage and year. I only have 32K as well but know once it gets over 50 it makes it harder to sell. You don't want to hang on too long. I bet a dealer would scoop that up - no interest in trading?

If you don't mind me asking what do you plan to replace it with?

Good luck!

 

[Koz]

Book value is approx $20K.

Koz

 

[JP4RNR]

I can only speak from my own expeirience. I think that is a great price. That same truck on a used Toyota lot would have an asking price probably of 26,000-28,000 (My brother paid $24000 for an 04 with 37000 miles)atleast here in So. Cal. I think more than price the bigger issue is service and convenience. For most people it is probably more convenient to buy a vehicle in this price range from a dealer in terms of arranging financing and purchasing extended service contracts. When dealing with a third party you have to research the best financing options on your own and getting an extended contract would take a little more effort. I would rather deal with a dealership as I feel more protected as a consumer, I feel I would have more recourse if something were wrong with the vehicle. Also used car financing has a higher interest rate. Even with a 700+ fico you are looking at 2-3% higher over a new car interest rate which is enough to eat up any savings you would get by buying used over new and so really someone in the market for a 4 runner is getting a better value buying a new 06. And don't forget that the incentives on 06 4 Runners right now are really attractive like 2% for 60 months or $5000 dollars discounted. I think all of these factors make selling a used vehicle only a couple of years old tough

 

[Loki]

Book value is approx $20K.

Koz

which book? kbb , edmunds, all have it listed higher than my asking price

 

[Loki]

I can only speak from my own expeirience. I think that is a great price. That same truck on a used Toyota lot would have an asking price probably of 26,000-28,000 (My brother paid $24000 for an 04 with 37000 miles)atleast here in So. Cal. I think more than price the bigger issue is service and convenience. For most people it is probably more convenient to buy a vehicle in this price range from a dealer in terms of arranging financing and purchasing extended service contracts. When dealing with a third party you have to research the best financing options on your own and getting an extended contract would take a little more effort. I would rather deal with a dealership as I feel more protected as a consumer, I feel I would have more recourse if something were wrong with the vehicle. Also used car financing has a higher interest rate. Even with a 700+ fico you are looking at 2-3% higher over a new car interest rate which is enough to eat up any savings you would get by buying used over new and so really someone in the market for a 4 runner is getting a better value buying a new 06. And don't forget that the incentives on 06 4 Runners right now are really attractive like 2% for 60 months or $5000 dollars discounted. I think all of these factors make selling a used vehicle only a couple of years old tough

You make a bunch of really good points...so the question is how low do I have to go on the price to make up for these issues..dealer trade in is about 17k from my bmw dealer. ugh.

 

[007Runner]

In my experience it can be very difficult if not impossible to sell a vehicle privately if it is worth about $20,000. The reason for this is because when people spend this much money they rather go to a dealer that can give them some sort of warranty.

You may have to take a loss on this and go for the trade in at the dealer. I know it sucks, been there a couple of times with no luck and ended up taking a loss on a trade in. It's that warranty people are looking for that makes it so difficult to sell a car worth that much money. I have discovered that selling a car valued at under $10,000 sells rather easily privately. That I feel is sort of the magic price. I know this does not help you, but at least it may save you some additional aggravation on spending more money on advertising.

 

[Koz]

Your truck is worth from $20K to $22K depending on the condition. With gas still over $2 trucks are not gonig to sell well!

Koz

 

[Loki]

Your truck is worth from $20K to $22K depending on the condition. With gas still over $2 trucks are not gonig to sell well!

Koz

Thanks. I'm curious where are you getting these numbers? The online valuation sites seem to think my asking price is a bit low..so I'm al little confused. Maybe they aren't so accurate..

 

[Koz]

Thanks. I'm curious where are you getting these numbers? The online valuation sites seem to think my asking price is a bit low..so I'm al little confused. Maybe they aren't so accurate..

Kelley Blue book.

Koz

 

[Bill42]

Try posting it on Craigslist. BTW, you should be getting a far better trade in offer from a dealer than 17k. That is roughly 5k lower than blue book. That is excessive.

Since you were at a BMW dealer I guess that means you were looking at a BMW. As always, it is a game between what the dealership will charge you for the new vehicle versus what they will give you for your trade in.

I prefer to walk into a dealer and not discuss how I will be paying. I get the best deal for the vehicle up front. Then I start in on trade in value backed up by blue book estimates.

Be patient. Shop around to other dealers. It will sell

 

[mtnracer]

I sold three cars on Autotrader.com and was very happy with the price I got. Usually 2-4K abover dealer trade.

Just make sure you have lots of pics. At least 9 from all angles.

Just hold out. It took me about 12 weeks to sell one of them but at least I got a fair price.

Good luck.

 

[GatorGreg]

Loki, if you haven't already you can start a thread in the Classified's sub-forum here on t4r.org (hey, it's free at least ) However, it looks like you're in the same boat as 4runnerman (see his thread below) I can't believe he still hasn't had any action on his '03 V8 SE 4x4 at $15.5k, seems dirt cheap for something that nice IMO.

http://www.toyota-4runner.org/showthread.php?threadid=22537

 

[sbbamafan]

It seems I am always on the short end of the stick in the last few cars I have sold. Personally (without looking at book value on yours) it seems like a good deal. If you were closer I would seriously consider trading with you just to get sport and 4x4. FAct is I drive so much, mileage hardly matters. I have almost 14,000 in 6 months. I looked at some used ones and the prices were so high I just decided to go ahead and get a new one.

Another factor that is really hurting the ability to sell used is the crazy low interest rates on new vehicles. Mine is 2% through credit union. As you know many manufacturers are selling now at 0 to 3% deals.

After 4 months of trying to sell my last vehicle I decided I needed to go ahead and sell it any cost. It was an '01 Dodge Dakota Quad Cab, white, loaded 2WD in perfect condition with 115,000 miles. I originally tried to sell it for +/-12,000 and lowered my price to below 10,000. I was offered 6,000 by the dealer. I sold it on eBay for aobut 8,500. It wasn't what I wnated but it was gone.

Like someone else said, right now it is just hard to get rid of anything that doesn't get wonderful mileage...

 

[X6RUNNER]

Sorry to hear it......as I was on the same boat back in May of this year. I've got the "4 SALE" on back and side of the truck for months. Yes! Two calls, no show. I was so embarrassing and frustrated to drove the truck around town with the 4sale sign for more than 4 weeks. Also, I've advertised on the Sentinel for another two weeks.....bamm, someone has called and left a message. I can't wait to call that person the next Monday. Guess what? She already purchased a brand new SR5 for lesser money than my asking price ($26,995). Here we go. Dealer offered 24K. Car Max offered close to 25K. Sold to my girlfriend for $25K after two months of frustration. BTW, mine was 06 Sport Edition V8 2X4 with all bells and whistles. Original MSRP ticker is: $35,5XX. Good luck.

 

[Thai]

This is sad...these are good deals IMHO.

Have you tried EBAY??

Good luck.

 

[Falls]

I think the price is real good , the gen III's sell for 20k around here per the dealer.

KBB / Edmonds gets you a good ballpark , but thats exactly what it is , a ballpark.

Lots of different factors with the time of year , fuel prices , ect...

 

[Fro-Runner]

Your truck is worth from $20K to $22K depending on the condition. With gas still over $2 trucks are not gonig to sell well!

Koz

I agree with what Koz said above! There are three major reasons that your sport edition Runner is not selling very quickly. One is the rebate issue. Toyota had to offer rebates just as the american mfgrs did during the last few years because that's what it took to move vehicles off the dealer's lots.

Secondly, cheap financing (0-3.99%) over the past 3-4 years has hurt the used car market. Not only is Toyota having trouble but all of the american models are also. Combine this with the factory rebate and why wouldn't someone pay 4-6k more for a brand new truck with a 36k mile warranty. You have to remember the base price (invoice price) of a sport edition is about 28k. Subtract the $2,500 rebate and add in 3.99%-5.0% financing through a good credit union, people will probably buy a new one. Also factor in the method that some people can borrow from their 401K plans (which is a loan at virtually 0% interest), plus the factory 2.5k rebate and any local dealer incentive of $500-$1000, you now have a base price of 24.5-25k for the a 2006 model. You are asking 22.5k at a higher financing rate plus the unknown knowledge of what your truck has been through.

The third problem is the gas prices! Even though the prices are falling, americans are still sensitive about how any little weather or world event can send the prices skyrocketing again. You know how the oil companies use this excuse to justify raising the prices tommorrow for a hurricane that might show up next weekend.

I do NOT like this used truck market sitiuation either! I have a 2004 4X4 with about 19,350 miles on it and dread looking at the prices of used 4th gen Runners in the sale magazines. The dealer is always trying to get me to trade my truck in on one of thier sucka bet deals to upgrade to a Tundra or Sequoia model (though I like the upcoming 2007 model Tundra). You are going to have to bite the bullet on the trade in or try posting on the internet in other forums......ie (Sienna, Pilot, Exploder, Trailfaker, etc).

As far as the 3rd generations holding above their resale values, I think it's because people know that is the last of those body styles. It also very easy to modify the truck for offroad capability. I kinda like the 3rd gen's body styling also. It is going to be interesting to see if the Toyota corporation goes back to focusing on the 4Runner's offroad capability especially since the Rav is nearly as big as the Runner now. The new Chrysler Jeep (due out in November-see Motor Trend Nov. issue) has put pressure on other manufacturers to put up or shut up when it comes to total offroad capability right off the dealer's lot. It is a good vehicle with live front and rear axles. I'm interested to see which way Toyota leans when they redesign that 2009 4-Runner!

 

[Hank]

In case no one has mentioned it in previous posts, remember that the buyer of your 4R will have to pay sales tax on the purchase upon registering the vehicle. So they'll have to factor in the $22.5k asking price + approx 10% sales tax + reg/tags = $24.5k (give or take). However, most private party sellers/buyers negotiate on an agreed "purchase price" of the vehicle which would benefit both parties : Good luck with your sale!

 

[toto]

As much as the trade-in value sucks (I think the original poster was offered $17K), some of that may be offset by a reduction in sales tax on the new car.
In Illinois, you only pay sales tax on the difference between the new car and your trade-in. I made a trade a few years ago where I had to talk a dealer up in order to match an offer I got from Carmax. When you factor in the sales tax savings, doing the trade-in at that price was almost $2K better than taking the same cash offer from Carmax.