jharpphoto
New member
May need to do some recalculating
Take the plunge?
- Thread starter jharpphoto
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May need to do some recalculating
jharpphoto
New member
guess whose wife got a job? Now that I'm not the only bread winner I've got some real breathing room in the budget for a 4Runner. Going tomorrow to check out a 2015 (new) 4R Trail w/ KDSS in mag grey. Dealer is quoting $40300 out the door but there has to be some negotiating room in there. I plan on trading my 2007 Jeep JK unlimited X 4wd 4 dr. I'm hoping to get $16K on trade. I guess I need to let my wife know at some point before the 4R shows up in the driveway huh?
And people wonder why the last financial crisis came out of nowhere and blind sided so many people.
OP, if you are anywhere close to worrying about your budget, DON'T SPEND THE MONEY!
You have so many options rather than dolling out $40k:
1) Buy a used 5th gen for 25% off.
2) Buy a used 4th gen (with awesome V8) for an even greater discount.
3) Stick with your JK, which is an amazing off-roader, probably even better than the 5th gen when it comes to hard-core wheeling.
4) Buy a used 100 series or 80 series landcruiser.
The economy is doing okay for right now and interest rates are very low, but that's going to change sooner or later. I say avoid the heartache and hassle and find a cheaper option, but one that will still give you nearly the same performance.
OP, if you are anywhere close to worrying about your budget, DON'T SPEND THE MONEY!
You have so many options rather than dolling out $40k:
1) Buy a used 5th gen for 25% off.
2) Buy a used 4th gen (with awesome V8) for an even greater discount.
3) Stick with your JK, which is an amazing off-roader, probably even better than the 5th gen when it comes to hard-core wheeling.
4) Buy a used 100 series or 80 series landcruiser.
The economy is doing okay for right now and interest rates are very low, but that's going to change sooner or later. I say avoid the heartache and hassle and find a cheaper option, but one that will still give you nearly the same performance.
David_S
New member
Good luck man. I'm guessing you're looking at a Trail premium for that price. Just want to verify, because that's too much money for a trail and the dealer is marking it up.
Personally I've always liked getting 2-3 year old used vehicles and pocketing the savings. I went new on the 4Runner because here in SoCal a 2-3 year old used 4Runner Trail Edition goes for only 3-5k less than a new one! Factor in the "value" of a warranty, 2 years free ToyotaCare, and just having a vehicle in it's lowest cost of ownership years and the nearly new used 4Runner doesn't make as much sense in my local market.
Comparing new to used, I took ($40,000new-$10,000when I sell)/125,000mi of no major maintenance costs to get 24 cents per mile as my expected costs.
I just would do the same equation for used vehicles. (purchase price - when I sell price) / (expected trouble free miles)
For example, a 2012 4Runner TEP at $35,000 with 30k miles = ($30,000-$10,000)/(95,000mi) to get 26 cents per mile.
I know I'm gonna get flamed for showing up with some lame equations, and I'm sure other people have better ways to model this, but this is what works for me. Obviously, I'm a ball at parties as well.
Personally I've always liked getting 2-3 year old used vehicles and pocketing the savings. I went new on the 4Runner because here in SoCal a 2-3 year old used 4Runner Trail Edition goes for only 3-5k less than a new one! Factor in the "value" of a warranty, 2 years free ToyotaCare, and just having a vehicle in it's lowest cost of ownership years and the nearly new used 4Runner doesn't make as much sense in my local market.
Comparing new to used, I took ($40,000new-$10,000when I sell)/125,000mi of no major maintenance costs to get 24 cents per mile as my expected costs.
I just would do the same equation for used vehicles. (purchase price - when I sell price) / (expected trouble free miles)
For example, a 2012 4Runner TEP at $35,000 with 30k miles = ($30,000-$10,000)/(95,000mi) to get 26 cents per mile.
I know I'm gonna get flamed for showing up with some lame equations, and I'm sure other people have better ways to model this, but this is what works for me. Obviously, I'm a ball at parties as well.
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hearno
Senior Member
Ummm, I'm single and maybe this is why but I'd rather beg forgiveness than ask permission.
jharpphoto
New member
Your equation doesn't make any sense. Why are you subtracting by the $ amount of depreciation? Shouldn't you be subtracting by the $ amount at which you sell it used? And you should be dividing by the # of miles you keep the car, instead of guessing how many miles the car will be trouble free.
OP, the fact of the matter is, if you look in the right places and buy at the right time, you can get used 4runners for nearly 25% off their MSRP. Case and point, I bought my used 2011 4runner trail (not premium and no KDSS) for about $27,000. Comparable new 4runners in my area were going easily for $35,000 if not more. BTW, I bought it a month after Christmas, when car dealers generally have the hardest time meeting sales goals.
Now some people will make the argument that a $5,000 or even a $8,000 difference between new and used (as it was in my case) is not a big deal, and is worth paying for the peace of mind and warranty. I guess that issue is all relative. $5,000 may not be a big deal for some, but for others it is. And I'm really not worried about major repair items on my 4runner...I still have powertrain for a little bit more and the design/technology in this truck is known for its reliability.
Also keep in mind, the second you drive off the lot, your 4runner is depreciating; this is true for both new and used cars. But cars generally take the biggest hit in depreciation in their 1st 3-4 years.
If you want/need to save money, buying used is the best option. If money isn't an issue, then buying new is a great option as well. You just need to figure out what your priorities are.
David_S
New member
Whoops, my mistake, that is the right ball park then. Sorry I missed that.
David_S
New member
I did subtract by what I think I would sell the car for. At $10k, the 4Runner would sell immediately, probably within hours. I probably can sell my 4Runner in 2025, with 125,000mi for more like $15k. $10k is very conservative. Of course inflation may change those #s.
If you think 10k is the depreciation, that is saying you can buy a new 4Runner for 40k and sell for 30k at 125,000 miles, I've not met a salesman that good.
I like 125,000 miles because I consider it a safe assumption the vehicle will not require any major maintenance. I just had to rebuild a transmission in my last truck for $2400. Trust me, I felt that and still remember it, so does my wallet. Maintenance costs matter, especially if you keep the vehicle into high mileage.
I actually get out of cars between 125,000 and 150,000 miles. Last two cars were out at 148k and 127k. Unfortunately the 127k truck needed a trans rebuild just before I sold it.
Used prices are all over the place and very dependent on location. Finding the deal you are describing in Southern California on a 5th gen 4Runner would be very, very hard to do. To get 8k off of new, you're looking at 50-60k miles here. Shoot, I had a hard time locating a new trail premium in white here. I put a hold on mine before it got to the dealer. Then whilst I was working out the deal with my salesman, 2 other people tried to buy it.
Sorry to be kind of hi-jacking the thread. OP, get a 4Runner, be patient to get a good deal. If you wait much longer and require a Trail, you might not find a 2015 available...of course holding onto the Jeep another year isn't really all that bad, you're in a good situation.
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jharpphoto
New member
I did it. Drove my 2015 magnetic gray trail home today. Woot. Love this thing. LOTS of technology to figure out. I think I remember being able to roll the back glass down with the key remote. Can you still do that?
eliminator
New member
Nice! Enjoy.
