5th Gen used values?

He posted that he got an offer for $57k, then why is it still for sale? I don't think anyone is dumb enough to pay that price.

 

Yes. And the offer is $40k. We can call it an offer just a little bit lower than his asking price.

 

They are going to depreciate faster than a ford fusion?

 

There's still 2024s sitting on dealer lots?! Given a choice, there's NO WAY I'd get a 6th gen. No V6, not made in Japan anymore, initial build quality and reliability sucks, etc.

 

I was wondering about these same items, do you have any links to reports of these issues referenced? I would like to see documented issues of this.

 

It’s made in Japan. Just for the record.

 

I was curious what my ride is worth, and this is what I was offered (40th Anniversary with 15k miles in excellent condition and no mods):

 

Wow. How much was your MSRP? They gave me $43,000 offer with 6500 miles on my 2023 SR5P.

 

My MSRP was a little over $46k

 

I purchased my 23 Pro with 10k miles in June for $49k, it was on a Ford dealers lot, traded for a Bronco. I sold my 2018 Tacoma in August of 23 for $2k less than I paid for it. After the price hikes on the 24 Tacomas and the problems, it was an easy decision going with another 4runner, my 8th.

 

That matches the offer for my '24 ORP with 10k miles.

 

Did you click sell or trade in? I wonder how much are they selling them if the offer $49k for a 2023 SR5P (40th anniversary) with 15k miles.

 

Yup, you're right, I stand corrected. I must've been thinking of the Tacomas, which are made in Mexico.

 

I'm about 98% sure I clicked sell. Carmax always has high pricing on used cars. Well, usually.

 

Edit: I just found this 40th for sale on their site. Same mileage as mine:

https://www.carmax.com/car/26386161

 

Damn dude that's as much as they are selling Pros for. Granted twice the mileage but just showing for contrast.

 

I guess the people were right when they said the 40th would have a higher resale value because it might be a "collector" trim level.

 

And of course you got the best color of one! Biased of course. Lol.

 

I just checked Carmax, how can they pay these prices and make any money?

 

Gen5 won’t be on collectors’ radars like the FJ Cruiser, however similar to the FJ, owners will be more reluctant to sell knowing that they can’t be replaced with a new one. The only thing a 2024 shares with a 2025 is the name.

In 2026, low mileage 2024’s may get more money at the auctions than low mileage ‘25’s, despite the big increases in MSRP’s.

 

It’s not about owning a collector’s item. For many, it’s a rational decision. When people realize what truly matters, they want a 4Runner. Sure, we could buy an X5 or even a Porsche Cayenne for what we’ve invested in our rigs, but we’d rather avoid the steep depreciation, run-flat tires, $1,200 brake jobs, and endless software glitches. When people reach the point where they have nothing to prove to others, they seek a reliable, capable, and spacious SUV with old-school dependability.

 

I think the red 40th edition is the best looking of all 4Rs.

 

Nice to know it held such great value!

 

At some point these prices will have to come down. You can get a brand new Bronco cheaper than these used 4Runners.

 

I did the same thing with my 24 sr5 premium!

 

Did you end up selling it for $57k?

 

I did not. I had a buyer from central Kansas that firmed up the 57K offer. It did not come to fruition. Quite frankly, I'm ok with that. I absolutely love the car. With the exception, the thin paint and clear coat. I'm thinking about parking it for a spell and rolling a farm truck to lessen the miles driven. They are such a treat to drive.

 

They sell these on long term loans. Carmax does the actual loaning, so they are likely making most of their money on interest. And whenever a buyer defaults on a loan, Carmax gets to repo the vehicle and sell it again.

Given that loans are their primary business, something tells me they probably have people that can predict at what point in the loan a particular buyer will default. If that’s true, they could even design loans that will let them reposses and resell the same car a few times, each time for above new MSRP prices.

 

In addition to loans, they also sell service contracts that are fairly lucrative, well, ever since the DeMuro ranger rover fiasco happened at least.

 

I could have gotten 47000 from carmax or a couple thousands more via private sale.. but I factored in the sales tax savings and went with trade in route.

But OP thought the 4R would appreciate like gold.. lol they have sold hundreds of thousands of units.. shit won’t appreciate