Value Question - How to factor in high milage

Hello,

I recently saw a 2019 4Runner TRD Pro with most of the after market add-ons that I would want for off roading. The main concern and question I have is that it has nearly 140K kms on it and its priced just under lower trim models of the same year with much more normal milage. I like the vehicle and think I'm ok with the high milage, just not sure how that should factor into the price. Any advice would be welcome.

 

Generally mods don't increase the price when selling used. Often times people won't pay more for another person's customization and may have concerns on how well it was done or if it was abused off road. But it all comes down to the buyer and seller. If you find someone who has done everything you want and not beaten on the rig might be worth a premium to you not having to build it new.

Milage is trickier. The 4runner is reliable and will last a long time but maintenance will be needed once miles are adding up. Another call out on modified vehicles and using off road. This can increase need for maintenance sooner than stock pavement driven vehicle.

 

Documented maintenance is important, but a lower mileage 4R without all the mods and a good service history is a better starting point in my opinion. The Pro doesn't really get you anything that you can't build in better for $2K. Even with that 64,000 miles (correct?) is not too far above average milage for a '19.

 

That's not high mileage. If there are service records I would not bat an eye at that.

 

Maintenance history is great call out. Buying from an individual who has maintenance records or from a dealer where much less is known. I always have no problem selling my used vehicles. But I am the guy with every oil change documented and doing maintenance ahead of factory schedule. My OCD just got better of me and changed rear diff, xfer case and front diff out at 13k to get factory fill and break in metals removed.

 

I plugged in a few values on KBB.ca to try and see. Difference between 140k and say 70k is about $8000 CAD. Difference between TRD Pro and SR5 is only about $1000 CAD. Use that to guide you on how much you should pay. Of course used Toyota truck/SUV prices have become grossly inflated over the last couple of years.

Keep in mind with 140k kms on Canadian roads, the shocks would be pretty beat up and in need of replacement or rebuild, and shocks are the primary differentiator for the TRD Pro trim.

 

87,000 miles

 

It depends on whether you are a glass-is-half-full or glass-is-half-empty kind of guy. At 140k the engine is optimistically half way through its lifespan. The average car in the US gets driven 13k miles per year so it should be doable to find a 4Runner of similar age with half the miles on it.

Just some quick math:
A 2019 with 140k on the clock that had its oil changed every 10k miles would have had its oil changed every 3.5 months on average, almost 4 times a year.

If we do the same calculation with a 5k oil change interval it works out to an oil change every 7 weeks.

 

It's 86K miles.

 

Well duh. My bad.

 

Subtract from asking price cost of transmission replacement - that's what you will wind up with. modded means off-road abused, meaning transmission busted, dirt inside frame - frame busted. unless you got it really cheap and unload it after couple years of your own "fun"

 

^Nah, most "modded" 4Runners are mall crawlers

 

But but but you can push 50 shopping carts out of the way in the mall crawler to get that primo parking spot. That’s what SSO Slimlines with bull bars are designed for, isn’t it?

 

Thanks everyone for the valuable info. I'm gonna have a look at the vehicle. Hopefully they have good service records and I will adjust pricing based on milage and likely maintenance needed.

 

I always buy new. But you can use my analysis below to compare new, used vehicles and how much (dollars per miles) you will end up paying. Obviously no one can predict what one used vehicle will cost to maintain vs another. But lacking any additional info. one can calculate this number for every used or new vehicle, using following.

4Runner essentially has not changed since couple of decades. This makes it somewhat easier.

• Lets say you buy a vehicle of certain vintage -- 201x, and certain miles Y.
• You can project:
  • how long you will keep the vehicle and
  • how many miles you will put on it.
• Everyone has a rough idea, and even if you don't you can just use 10 years/10K miles per year as default. I do not think it matters to be exact here.
• Back out 10 years from 201x. Add 10*10K = 100K miles (or whatever you projected you will put on the vehicle per year) to the initial number so we have (Y + 100)K miles.
• This gives you a data point you can use -- find out how much used vehicles for model year (201x - 10) and with (Y + 100K) miles cost.
• With this arrive at a (dollar per miles) number. This is the cost that matters to you the most. This is the cost you will pay for any vehicle you are considering buying. And this is how you can compare if it makes sense to buy one vs another.
  • Obviously everyone has a number they can afford and I am not saying buy more expensive/new vehicle just because of it.
  • However with the current unusual used car market, and low toyota inventory making it even worst for a toyota, you will find that buying a new toyota brings you at a much lower (dollar per miles) cost, than used.
• You can compare new vehicle or used vehicles this way. You can even compare vehicles from different model years and mileage and get a comparable number.
• I am assuming all other things are equal, but obviously one has to adjust for no. of prior owners, accident history, maintenance history if its present etc.
• My analysis also does not take into account the current unusual used car market, and inflation in the future etc.

 

And sliders to guard against door dings, of course.

 

Interest expense? Opportunity cost?

 

For those of us that tend to keep cars for a long time, the remaining lifespan of the vehicle is also a consideration.

 

I bought a 2022 trd off road brand new. I could have bought a used GX 460 for 35k with 50k miles. They depreciate faster and while happy with my decision, I could have had a v8

 

Immaterial.
The market decides what the value is when you sell your vehicle. To a seller that is more important. It’s also directly correlated to remaining lifespan, as you say.

In this analysis, it doesn’t matter because remaining lifespan is already accounted by what marker is willing to pay for your old/used vehicle.

 

All valid points.
Left as homework for you.
feel free to expand on my simplistic analysis but at some point you gotta also life your life! This analysis just gives you a ballpark number that is generally accurate.

 

This is a lot of miles over a short period of time.

It's easy to get behind on routine maintenance when you are burning miles at that rate.

It wouldn't matter to me so much that sell price matched mileage and age.

I would want to make sure I felt comfortable maintenance was done in a timely manner.