Used 4Runner prices dropping?

This will change unevenly for each OEMs. Toyota had had worse problems than everyone else with their supply chain.

a part of me thinks that it’s in their own interest to keep inventory low. They have created a demand never seen before and their bottom line hasn’t affected. I am guessing whatever they’d lose in incentives they are making with cars sold at msrp, even though overall numbers have reduced.
Keep the lot empty — sell lower number (and less units) at msrp — overall higher margins.

maybe I am too cynical

 

You don't find many 4runner rentals. I got on carfax and Edmunds so I can look at the history. I saw a 2019 advertised for really cheap. I read some more it was a frame damaged wreck. I got to be first wrecking mine.

 

I agree. However I was in Las Vegas over summer and budget rentals were filled with 4Runners. Very surprised to see that but yeah as you said, I see more jeeps and ford and Chevy than 4Runners in rentals

 

Toyota is biggest car maker in the world. They are Japanese and brand and reputation are more important than raping customers. I don't know of any Toyota dealership doing around here.I read a story that the CEO was not going to allow that. I saw a bunch of Broncos for sale on 4runner website. Toyota will sell no matter what for the price if someone wants it. Toyota on side lots and buy here pay here are the worst. That's the bad ones end at.with the hidden problems.

 

I see a lot of jeeps but I see tons of Broncos that are worth half what they paid leaving the lot. Ford doesn't have good frame corrosion history.

 

I know they have them but it's a lot of Toyota 4runner here
Poor people like good value and I hate walking.

 

Wow. I really feel bad for folks who have to buy a vehicle and finance it. These interest costs are insane.

 

They have a 4runner sr5 with less than 7k miles for under 40k at a hyundai dealer. Who would trade their 4runner for a hyundai? What car does hyundai have that is better than a 4runner. It says that it has leather but I think it is the premium sr5. Is 40k a good price for this vehicle it shows no accidents and one owner. Also 4 wheel drive

 

Hi Redwood. I had the same experience as you did. Traded in my 2010 FJ Cruiser, 11-years old, and 167,000 miles. Received over 50% of the cost new in 2010 as a trade-in, $1800,00 discount on a new 21' ORP/MR, and 3.9% interest rate in May, 2021. Don't think I could have done much better.

 

That rate sounds about right, for USED cars. I looked into used 4Runners before deciding to buy new. My credit score is in the 820 range, and I got 7.9% for a used car rate.

Thankfully Toyota offered me 6.28% for my new 4Runner. That saved me $50 per month off my monthly payment. Back in 21' when I bought my new Tacoma, I got 2.17% through US Bank for new car financing. I miss those days.

 

I don’t believe Toyota wants low inventory to have its customers wait months for a vehicle. A limited supply only benefits the dealers for max margin dollars per unit, but total margin dollars most likely be less as they no longer can rely on volume of units. Reduced unit volume also means Toyota will sacrifice market share, and there other benefits that come with having high volume sales (cheaper part costs due to volume, sales dollars to the brand heavily depends on volume).

If anything, they may narrow the selection in a product line, simplify/limit choices in a trim level. Example, in Canada the TRD Off Road, TRD Pro and Limited have no options. I think only the SR5 has one option, and that’s for a 3rd row seat. Lowering choices in a trim level, helps keep volume per trim level, which adds cost efficiency.

 

Never used the Bosch Icon wipers, but even since I was turned on to silicone blades I’ll likely never go back. They simply last forever it seems. Probably put 60k miles on my last vehicle with them on before I sold it, and the blades still performed like the day I put them on. Worth a try if you’re in the market for some. From what I’ve read and seen, is that they don’t sell them at the auto parts stores because they last too long, which should say something.

 

You are probably right. I think it was my original (cynical) interpretation of what I was seeing.
toyota gross profits numbers are more in line with what you are saying. Their gross profits reduced 2 out of last three years.
They have increased the number of SUVs they offer by a lot over past few years. I do agree that it makes more sense to reduce the trims. However, I don't see that happening here in US yet. New tacoma has all the trims it did in past gen. Plus a new trim (prerunner and trail hunter?). Not sure if they got rid of any existing trims to offer those two.

 

You mean Fiats.

 

They have 2 used Sequoias for about $90k each! WTF

I got my used 4Runner in VA for $38K almost 2 years ago. I went out of Colorado to buy it. 70k miles - 2015 Inferno Pro. I was looking for a diff locker, no sunroof, special color & no TSS 5th gen, so my situation was special. If you're going for an SR5 or OF then I do believe the higher interest rates have dropped the prices. I bought when trucks were high priced but still low interest rates. My rate is 3.65% fixed. I'm already down to $31k left on my loan

 

Wow, I will take a look tomorrow.

 

@kolter45 I also see ton of KDSS 4Runners (new) on the lot. Most have terrain monitoring package also. Great for those who are outside of CO looking for KDSS.

 

$7k in 2yrs? Damn, your payments are low. Did you finance for 7 or 8 yrs??

 

Probably during the Jimmy Carter years.

 

I bought in 2020 during start of Covid19. The dealer lots were full of inventory,.....just no customers! I got $3k off MSRP and 2.65% interest rate.
I would feel terrible for anyone buying in this economy

 

Yes. Not just used. New as well. My local dealership would have laughed at MSRP or lower last year and they had no 4Runners on lot and 3-4 month wait.

Now in past 2-3 months I’ve been getting promotion emails offering less than MRSP and “invoice pricing” and “employee” pricing etc.

If people are in the market for a 4Runner and patient I’m sure in beginning of next year market conditions and interest rates worse and can probably get nice deal then on a 4Runner. You’re trade in they probably won’t give you as good a value though.

 

I did 5 years, but the OTD price (taxes, license, plates, fees etc) put it over $42k. I've made 18 payments atm, 19 on the first. So not quite 2 years yet

 

I see some dropping actually, but a lot depends on area and model also. I see better deals now.

 

Special color Pros still seem a bit limited in supply. At least here in the northeast, I didn’t see alot of Solar Octane inventory throughout the ‘23 model year. Most that popped up were either accounted for or had big markups.

Doubt you’ll find many discounted ‘24 Terra colored trucks either. But I do think you should be able to get a better deal now versus a year ago on other colors/trims.

 

I just picked up my 2018 4R ORP with 53K miles yesterday for a hair under $39k here in SoCal. There have been a lot of 2021 and 2022 models with around 45K miles up for sale lately but I mark that up to either the rental or lease contracts coming to term. The 4Runner is still popular but they're sitting on the lots a bit longer than earlier this year and the prices are slowly trickling down.

 

I noticed that some dealers are selling the SR5 premiums at a higher price than the trd orp and limited. Why is that ?

 

Some may have run numbers and found those are their best sellers and looking for bigger margins maybe?

 

I'll tell you right now, COVID was the best time to total your vehicle and get paid out.

 

And then what? Ride a bike to work?

 

I don't think you are being too cynical. Porsche has always done this by design.