Trade-in values weakening?

Looking to trade in my 2019 SR5 at a Toyota dealer for a 2023 Taco TRD Off-Road. Off course, they won't give me a trade value until the new vehicle is there and I'm in the chair ready to sign.

Frustrating.

I was offered $42k for it early in the summer from the local Toyota dealer. But, it seems the market may be softening. I'm seeing 4Runners like mine within 100 miles going for between $36k and $42k.

I'm going to need about $38-$40k for trade to be comfortable with the deal. If not, then I'll just keep the 4Runner and start doing some serious mods to make it awesome.

Curious if others are seeing trade values on 4Runners softening.

 

This was bound to happen because of interest rates going up.

 

Isn't 42 near or at retail for a 19 SR5?

 

Probably. I test drove a 2021 Taco TRD OFf-Road bone stock with 30k miles on it and they wanted $43,999. Price for a new one is $42k. Ironically, I saw it go by with temp plates on it yesterday while out for a bike ride.

 

I guess your need is different than mine, you seem to need a truck.
I was thinking to trade in my 4runner 2019 to a 2022 but even though the trade in prices were high I decided to keep the lesser tech 2019 since I wasn't too confident with my 2021.
But back of head I want something like a Tacoma with a manual transmission. Hope you get lucky for a pretty good trade in value.

 

A report I read last week said vehicle repossessions have doubled among PRIME borrowers which means used vehicles will become plentiful and the bottom is falling out of the used car market.
Massive inflation has stretched some budgets to the breaking point.

 

They offered me $57k for my 21" Trail Edition with 22k Miles back in Feb. I paid $42k in March of 21" for the same vehicle. They have now offered me $48k with 28k miles on it.

 

4Runners don't need mods to be awesome.

They're arguably better off-road than a Tacoma. The only advantage that Tacoma would have over your SR5 is the rear locker.

If you just want a pickup, I get it. But, if you're looking for off-road capability, keep the 4Runner and add a locker.

 

+1,

Lockers certainly add another layer of capability, but I’ve been off roading for 22 years now without one and have never been stuck. Driving skill and good judgment will get you far.

 

I've ran my vehicles through carvana dozens of times just out of curiosity. I just did my '22 ORP and it came back just over $38k. The days of sky high trade in offers are pretty much gone.

 

I have plenty of capability with 2" lift and 33's. But doesn't the TRD OR package also add crawl control and MTS in addition to the locker? I would like a pickup so I can haul a mid-size ATV in the bed and tow a small camper.

 

True. I didn't get stuck at all for the first two years.

Once I had armor, I started trying more technical obstacles, and have used the locker to get out of a few pickles. On most trail days, I might engage it 2-3 times, usually only for a minute or two.

I've also been in spots where guys with lockers could walk right up or over an obstacle, while those with open differentials had to use momentum. That's a good way to break stuff, IMO.

Yes, it does. But, the locker is the only one that's ever really made a difference for me. I think Crawl and MTS are cool features, but I'd trade them both for a front locker.

If you just want a pickup, the Taco is a good choice! If the right deal comes along, I say go for it! Then again, my advice is never the most financially sound.

There's no mod that's going to make an ATV fit in the 4Runner. Towing the trailer with the 4Runner wouldn't be an issue. But, it sounds like you want to be able to tow while also hauling the ATV. I might be concerned about being over the payload between the ATV and the trailer tongue weight. But, I really don't know what ATV's weigh.

If you're curious what your trade in is worth, you could always take it to another dealership and get an appraisal. Or, get an offer from Carvana.

 

Carvana sucks. They lose paperwork and are in litigation with a ton of states for messing up everyone's registrations

 

I wasn't suggesting selling the truck to them. I suggested using them to get an offer to see what the trade is worth.

I thought a few people here had sold their vehicles to them without any issues.

 

My apologies, not trying to criticise the use of them for a valuation or even a sale.

Edit: Buying with Carvana is where they screw you over a ton. Thats where you got to be careful and where I meant to direct my lamentations lol

 

I do appreciate the heads up! I don't know anyone who has used them, so I have no idea what they're really like. I'll probably avoid using them for anything.

 

here's some of the details:

https://news.yahoo.com/carvana-facing-legal-issues-including-202954985.html

 

My 18 ORP with 60k had an offer for 26k on Carvana…a couple of days after I paid substantially more than that at the dealership for it (I was curious how badly I got hosed, turns out a lot). FWIW Carmax was offering quite a bit more when I was considering trading my old vehicle in on the 4R, and they seem to have slightly less BBB complaints than Carvana. My friend purchased and then later returned a vehicle from Carvana, no issues, but there are definitely horror stories out there. I almost bought through them, but their mandatory delivery fees steered me away, especially since I was still driving 4 hours to pick the car up from their nearest gimmicky car vending machine.

 

I bought new, because I could not afford a used 4Runner (similar price to new, or slightly more, at a higher interest rate). Now I can see a flood of vehicles available on auto trader, with a couple of TRD Pros seemingly stuck at dealerships for over six weeks now (in Canada) since asking price is so high.

 

I sold my 2012 truck to Carvana without issues. The vehicle was paid off with a clear title.
The most important was to drop-off the vehicle at the local office and collect the checks on the spot.

Avoid tow vehicle pickup/drop offs.

 

Too many used T4R in the market now with high prices. Hope this isn't a bad sign.

 

Find a new dealer. If they wont give you a trade in value now, F them. However, it is unrealistic to expect a trade in value now, and then in 4 months when the rig is there and you are ready then, that they would honor it. The market is softening. So many rigs being sold, so few new ones available and so many people simply can't afford 18mpg and 90 min commute times any longer. Interest rates are going to climb again. Those with variable rates will start selling off when their monthly increase by 10-35%. Think I'm wrong? Look at the RV and overlanding trailer world. Last year you could d not find a used overland trailer. Right now, I found 66 on FleaBay within 5 hours of me (I'm 5 hours from the next major city in West Texas). RV dealerships are pumping huge TV commercials right now becasue inventory is HUGE. Unless you have to buy a car, dont. The grass is not greener and is only going to have dogs shitting on it for some time to come.

 

People got in over their heads prior to the inflation climb with the “free money” they received. That money is long gone and along with the massive increase in cost of living they are defaulting on their loans. The used car market will be flooded with repos.

 

People got in over their heads due to the poor choices they made, not due to "free" money. Buying a big house way over selling price when they don't need it. Buying a new car at over MSRP because they want one even though they have a good vehicle. Buying toys left and right instead of saving money. List goes on and on. That "free" money my wife and I got went direct to medical bills.

 

Excessive gas prices and double interest rates are the biggest factors.

Mortgage refinance rates was around 2.75% in May 2021 locally. Now its around 6.0%

County property taxes jumped up because of artificial house prices.

Not to talk of health insurance premiums.

Go figure. Spend your money wisely.

 

I did the Carvana offer thing on a whim.

Yikes! Offer was $27,673. That's about $12k less than the average retail price around here. Not sure what they are smoking.

 

I check mine periodically, and it's gone down dramatically since last year. I think you are correct. Trade in values seem to be back down from space.

It's definitely worth checking around, though.

 

The days of making a profit on a 1-2 year old 4Runner are definitely over.

 

It’s not a fluke. I had about the same form them.

 

Carvana is in trouble and not handing out huge trade in cash. That and the market has a lot mreo used cars now than a year ago. Demand has fallen some, but will get worse, but when demand falls even some and inventory goes up, prices go down. Except new vehicles in this very unique time of history. Too few new and too many stupid (read- cant afford variable ARP's) people willing to pay over MSRP.