New VS. Used

[wadle5]

Not necessarily 4runner related, but at least Toyota. Randomly driving through the lot last night and they just happen to get a 2017 TRD Pro Tundra in Cement stickered at $47k. Drive farther down the lot and see a CPO 2015 TRD PRO in black with only 15,000 miles stickered for $45k.

I by no means am thinking of either(although I do want a Tundra), but have been watching the markets as well on 4runners and toss the idea around if its worth saving around $2K-$3K for 15k miles on a vehicle?

Thoughts/input/sarcasm ?

 

[ZebRuaj]

Interest and total cost after said 48 mo/60 mo financing would be a factor for me. If you can score a good rate on a new vs used, no doubt go new.

 

[blacktrail]

I was on the same situation, looking for a new one and end up with a used 2014 trail with 12k miles for 33k, this was in Dec 2015, looking at the sticker the 1st oner paid closed to 38k so that's almost 5k difference, to me that was a good deal. Like ZebRuaj said if you have decent credit your rate is probably going to be lower for the new one and end up making that 2k-3k back


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[racebum]

with the auto buyers program at costco buying used becomes even more ridiculous if you're looking at 1-2 years old

if i were in the market for new it would be the first place i look. dad bought a new taco 3 years ago and saved almost 3k going through costco over the "best price" the dealer offered. loaded trd etc.

if you live in a non rust part of the country buying 10 year old used makes sense as does new. buying one with 20k on it for maybe 1-2 grand less than costco wants for new i don't see the point in. you're taking the used vehicle risk without any financial reward

 

[ThorInc]

I would have to go new as I do not know how the 15K was put on it....worth $3K to me. I'll add that they will likely negotiate the price differential to much more that 2-3K.

 

[-JD-]

In a similar situation looking at Tundra platinums. The pricing of some of the used stuff is so high its hard to justify not just going new.

As has been already stated the interest rate can be the deciding factor. Also nice to be able to get exactly what you want by buying new and a little peace of mind that you dont have to worry about anything the PO may have done to it.

From what I hear though the TRD pro's can be quite hard to find so that may be a factor too. Personally I dont think its worth the price tag vs buying another model Tundra and modifying it to be as good or better than the pro, but people seem to be willing to pay for them. Supply and demand, right?

 

[Hepar]

I think it's better to look at it as a percentage. So, with it being $47k new vs $45k used, that's under a 5% savings. Personally, I wouldn't find that worth it.

 

[CXS]

Thoughts/input/sarcasm ?

Personally I would never pay those kind of prices much less brand new regardless of financing. The immediate depreciation has to be considered and it hurts. I won't buy new and prefer something with 50k or more thsn has verifiable maintenence.

Just bought a "new" car for my wife. She prefers Honda so we took our time and found a '99 Acura with 90k on it. Corporate owned, full records, excellent condition, etc under $5k. That's the way to do it, write a check and drive it into the ground!

 

[wallytoo]

Personally I would never pay those kind of prices much less brand new regardless of financing. The immediate depreciation has to be considered and it hurts. I won't buy new and prefer something with 50k or more thsn has verifiable maintenence.

Just bought a "new" car for my wife. She prefers Honda so we took our time and found a '99 Acura with 90k on it. Corporate owned, full records, excellent condition, etc under $5k. That's the way to do it, write a check and drive it into the ground!

complete agreement.

bought a used '95 legacy wagon back in 1999, put 250k miles on it and retired it in 2013. replaced it with an '87 4runner with 97k on it (paid 5K) that now has 159K miles. wife bought a '97 corolla back in 2001 with 55K on it (paid 6K), just retired it in 2016 with 275k miles. replaced with a '91 celica (paid 1.2K) with 160k miles.

they'll all be driven into the ground and become parts vehicles, for someone.

oh, and bought an '89 camry (paid 2.2K) in 2014 for my kids, with 85k miles.

wally

 

[gm350reratliff]

Hey! That's where my cement tundra is! I'm on the waiting list for a cement tundra but the dealer in Albuquerque can't seem to get one, they seem to all end up 1000 miles away.

On the other hand, I could probably get a nice SR5 for $10k less than the TRDP. That could buy a lot of mods! So, even if they do get one in, I'm not sure that I will go through with it. Then there's also a rumor that Toyota will be showing off the "updated" 2018 Tundra next month at the Chicago auto show so I'm going to wait and see what that looks like.

As for new vs used, when we purchased my 2008 4runner back in late October 2008, the economy was crashing, it was an election year, gas prices where going up, and nobody wanted a SUV. We had a Pontiac G6 GTP (horrible little car) that we wanted to trade in for a 4runner. We tried dealing with both Toyota dealers in Albuquerque but they would not deal on anything and were really trying to lowball us on our trade. We happened to find our 4runner at one of the Honda dealers in town. It was locally bought and traded by some lady that feared the high gas prices and traded it for a civic or something like that. It had only 8k miles on it and was like new. After hours of back and forth haggling, we got what we wanted for our trade and bought the 4runner for $25k. Going used saved us thousands of dollars on that deal and it's been a great vehicle.

When we bought our 2014 4runner, we found that the Toyota dealer in Santa Fe was willing to work with us and made us a pretty good deal on a brand new TEP even though we had to order it. Now, there were some used ones here and there but they were just as much or more than our new 4runner. It didn't make sense to go used at that time.

I think it all depends on the situation and what vehicle you're looking to buy. You can save quite a bit on some of he domestic brands buying used. Sometimes it's not worth the risk if there's no maintenance records or you suspect it's had a rough life.

 

[poleclimber63]

:hiding:

I hate to rain on anyone's parade...

$47K and that's USD!! That's a freakin' mortgage! I get that its a gorgeous truck etc. AND its a Toyota--- and you like the idea of just changing the oil and turning the key for the next 5-7 years, without a care, but wow $47K... and maybe you're not into wrenching a bit... well, if you've got the cash, awesome!

I've owned a 98 SR5 for almost 5 yrs, If memory serves, I paid 7K for it, I've put maybe 3k of repairs into it (it has never broken down and left me stranded) and I've put maybe 2k worth of upgrades into it, which werent required--- just for fun. At this point, it is the main source of transportation and I would'nt hesitate to jump in it now and drive 1000km. From my experience, research, find the right vehicle >5yrs old (in the case of a Toyota truck >10yrs old!), maintain it, and you will probably have a great experience (unless you buy Ford, GM, Chrysler--- I digress)

As my brother says (who just bought a new Acura MDX), to each, his own!
My 2 cents

 

[Hepar]

:hiding:

I hate to rain on anyone's parade...

$47K and that's USD!! That's a freakin' mortgage! I get that its a gorgeous truck etc. AND its a Toyota--- and you like the idea of just changing the oil and turning the key for the next 5-7 years, without a care, but wow $47K... and maybe you're not into wrenching a bit... well, if you've got the cash, awesome!

I've owned a 98 SR5 for almost 5 yrs, If memory serves, I paid 7K for it, I've put maybe 3k of repairs into it (it has never broken down and left me stranded) and I've put maybe 2k worth of upgrades into it, which werent required--- just for fun. At this point, it is the main source of transportation and I would'nt hesitate to jump in it now and drive 1000km. From my experience, research, find the right vehicle >5yrs old (in the case of a Toyota truck >10yrs old!), maintain it, and you will probably have a great experience (unless you buy Ford, GM, Chrysler--- I digress)

As my brother says (who just bought a new Acura MDX), to each, his own!
My 2 cents

It's all relative, which is why I suggested looking at it as a percentage. If you were looking at a vehicle for around $9,500 and you could get the same vehicle two years newer with 15k less miles for $10k, would you? Obviously there are other factors, but barring any other glaring issues I know I would.

 

[poleclimber63]

complete agreement.

bought a used '95 legacy wagon back in 1999, put 250k miles on it and retired it in 2013. replaced it with an '87 4runner with 97k on it (paid 5K) that now has 159K miles. wife bought a '97 corolla back in 2001 with 55K on it (paid 6K), just retired it in 2016 with 275k miles. replaced with a '91 celica (paid 1.2K) with 160k miles.

they'll all be driven into the ground and become parts vehicles, for someone.

oh, and bought an '89 camry (paid 2.2K) in 2014 for my kids, with 85k miles.

wally

Wow, a guy on the same page as myself! I still have that 97' Corolla and it will be driven by my youngest for College next season! It's got 265K on it and its still running great! Just did the suspension and TB/WP. I've done similar vehicle changes over the years...:thumb:

 

[poleclimber63]

It's all relative, which is why I suggested looking at it as a percentage. If you were looking at a vehicle for around $9,500 and you could get the same vehicle two years newer with 15k less miles for $10k, would you? Obviously there are other factors, but barring any other glaring issues I know I would.

As a percentage, yes, you're right. 9500 to 10K, absolutely. I just couldn't bring myself to choke up $47K (61K CDN $), but you're right, if I had it to spend, 5% more for 2 yrs newer and 15K miles less, yes, absolutely.

 

[lsumedic84]

I know of a Toyota avalon with 750000 plus on it. Original engine and transmission.

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[gm350reratliff]

:hiding:

I hate to rain on anyone's parade...

$47K and that's USD!! That's a freakin' mortgage! I get that its a gorgeous truck etc. AND its a Toyota--- and you like the idea of just changing the oil and turning the key for the next 5-7 years, without a care, but wow $47K... and maybe you're not into wrenching a bit... well, if you've got the cash, awesome!

I've owned a 98 SR5 for almost 5 yrs, If memory serves, I paid 7K for it, I've put maybe 3k of repairs into it (it has never broken down and left me stranded) and I've put maybe 2k worth of upgrades into it, which werent required--- just for fun. At this point, it is the main source of transportation and I would'nt hesitate to jump in it now and drive 1000km. From my experience, research, find the right vehicle >5yrs old (in the case of a Toyota truck >10yrs old!), maintain it, and you will probably have a great experience (unless you buy Ford, GM, Chrysler--- I digress)

As my brother says (who just bought a new Acura MDX), to each, his own!
My 2 cents

You're right. It is a lot of money. Certainly more than I'd really like to spend but I'm drawn to that cement color for some reason. Honestly, I'll probably bring home a SR5, which is still a lot of money to me. However, I have coworkers that have dropped $75k+ on trucks this past year. Now to me, that's nuts.

 

[4Ruinned]

Wow, a guy on the same page as myself! I still have that 97' Corolla and it will be driven by my youngest for College next season! It's got 265K on it and its still running great! Just did the suspension and TB/WP. I've done similar vehicle changes over the years...:thumb:

Count me in on your page as well.

The closest I've been to owing a new vehicle was when Toyota bought back my 99 Tacoma, they gave me good money for it and offered me a discount if I put that money on a new one, I turned it down.

Now the wife drives an 02 Tacoma double cab and I drive an 85 4runner. I like to work on them, parts are cheap and if I can't figure out a problem, forums like this one, have helped me out a lot and I have saved a ton of money. Not that they are not reliable.

I don't see myself spending that kind of money on a new vehicle in the future. I only wish I lived in a rust free area to have a good supply of older vehicles.

 

[daesonn]

I have a friend that works at a local dealer and you're absolutely right. When it comes to 4runners, the price difference between new and used is very minimal, however, my friend mentioned that when buying used, the vehicle automatically comes with a warranty, whereas if you purchase new, you must pay for the same warranty. Not sure how much it costs, but might be a consideration for some...

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[Beaumont67]

Count me in on your page as well.

^^ I've found best used vehicles, to purchase are - nicely depreciated, yet still stylish & hardly broken in.
Offers Huge $avings over brand new. My general, used criteria list:
- 7 years old or less, but not from Big3
- No Dealerships or Used Car Lots / from private sellers only
- under 60,000 original miles
- original paint
- proof of oil spray undercoating, a bonus
- Minimum CarFax accident or NIL
- loaded (many options become literally Free) / higher end models
- color is of less importance / condition and 1-owner, with good vehicle maintenance history..."wins the day"

Plus buy private / sell private - to keep upgraded vehicle, costs way down....and avoid monthly finance expenses.
- the trick is to have a keen eye for quality (with mechanical & body condition) and be patient in the search

PS - I've had a few GMC trucks, that I drove for 4-5 years Free (purchase price was slightly lower than my later sell price).
- similarly our Gen3 RAV4, should hold its value quite nicely / being a Limited, with the desirable v6-269HP, leather, moon roof, heated power seats plus heated wipers/side mirrors, tow package 3,500# (HD rad, alternator, both coolers), etc.

******************************************************************************************

COST ANALYSIS (Cdn$) - used vs. new:
a) Last family vehicle sold - 2002 Volvo v70 wagon:
- Pd $9K + 13% HSTax = $10,000 with 144,000 Km= 89K miles
- drove for 8 years / Sold for $4,500 with 297,000 Km
---------------------------------------------------------------
Therefore, adding 153,000 Km or 95,000 miles, over 8 years...11,900 miles/year
- for the total cost of $5,500 or prorated @ $688/year (bare ownership cost)
Used Cost/Mile = 5.8 cents

b2) 2nd Last family vehicle sold - 1998 Nissan Maxima || off 3 year $650/M lease:
- Pd $23.5K + Tax = $25,000 with 52,000 Km= 32K miles
- drove for 8 years / Sold for $3,000 with 335,000 Km
---------------------------------------------------------------
Therefore, adding 283,000 Km or 176,000 miles, over 8 years...22,000 miles/year
- for the total cost of $22,000 or prorated @ $2,750/year (bare ownership cost)
Used Cost/Mile = 12.5 cents

b1) In First 3 years of lease, original owner lost ($650*36M)-($2,750*3Yr.)= $15,000 Cdn.
New Cost/Mile = $15K/(52,000*.621F)= 46.4 cents (original owner $$)

c) Estimate Current family vehicle - 2008 Toyota RAV4 Limited v6:
- Pd $13K + 13% HSTax = $15,000 with 89,000 Km = 55K miles
- drove for 4 years / If Sell for $8,000 with 215,000 Km
---------------------------------------------------------------
Therefore, adding 126,000 Km or 78,000 miles, over 4 years...19,500 miles/year
- for the total cost of $7,000 or prorated @ $1,750/year (bare ownership cost)
Used Cost/Mile = 9.0 cents << Turning out to be our favorite ride !!

 

[wadle5]

In other news I keep driving by this at the lot haha. Way out of my price range...by about double