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When are vehicles at their highest resale value?
Posted on 12/30/16 at 3:49 pm
Posted on 12/30/16 at 3:49 pm
I have a 11 4Runner SR5 with 70k on it that is paid off but has a couple problems that would cost about 3k to fix. Trying to decide whether it is worth it to fix those problems and drive for another couple of years or sell now (valued around 20k) and buy a used newer model Tahoe with more features.
At what point does a vehicle reach it's maximum trade in value and you can avoid getting into the more costly repairs on a vehicle?
At what point does a vehicle reach it's maximum trade in value and you can avoid getting into the more costly repairs on a vehicle?
Posted on 12/30/16 at 7:28 pm to LSUisKING12
General rule of thumb is miles are inversely proportional to value.
This post was edited on 12/30/16 at 7:32 pm
Posted on 12/30/16 at 8:49 pm to LSUisKING12
I can't directly answer your question, but I would repair it. That vehicle has a lot more miles in it.
Posted on 12/30/16 at 9:02 pm to LSUisKING12
Whats the issue? I may be interested for the right price.
Posted on 12/30/16 at 9:11 pm to Ton
The issues are very minor things (windshield, antenna and a couple spots were the paint has chipped up) but would add up. Worried about more major issues popping up in the future and wondering when the price will see them most significant drop.
Posted on 12/30/16 at 9:18 pm to LSUisKING12
Wouldn't you have to perform those repairs anyway to get the "$20k" valuation for it?
It's not ideal but sometimes cars need dumb repairs. I had a Yukon that needed $2500 worth of axle bearings and differential work at around 90k miles. I'd never heard of that at such low mileage. Even the almighty Land Cruiser is notorious for throwing water pumps at ~75k miles.
Don't switch horses midstream, especially if the other horse is a GM GMT900 SUV.
ETA: I thought you had a real problem not paint imperfections and a cracked windshield. Geez. Fix your windshield for $300, get an antenna from eBay and just live life, man.
It's not ideal but sometimes cars need dumb repairs. I had a Yukon that needed $2500 worth of axle bearings and differential work at around 90k miles. I'd never heard of that at such low mileage. Even the almighty Land Cruiser is notorious for throwing water pumps at ~75k miles.
Don't switch horses midstream, especially if the other horse is a GM GMT900 SUV.
ETA: I thought you had a real problem not paint imperfections and a cracked windshield. Geez. Fix your windshield for $300, get an antenna from eBay and just live life, man.
This post was edited on 12/30/16 at 9:23 pm
Posted on 12/30/16 at 9:18 pm to LSUisKING12
vehicles are at their highest resale value around mid feb to late march and again mid september to mid october. I would keep that one a few more years or you'll get rough book on trade in value which is about 15K.
Posted on 12/30/16 at 9:21 pm to LSUisKING12
Those aren't real issues so I would just shell out the money to fix it.
Posted on 12/30/16 at 11:16 pm to LSUisKING12
quote:
The issues are very minor things (windshield, antenna and a couple spots were the paint has chipped up) but would add up.
That's just normal stuff that could happen in year one. Fix them, or don't, and drive on. Save that money.
Posted on 12/31/16 at 2:57 pm to carguymatt
quote:
vehicles are at their highest resale value around mid feb to late march
Tax time.
Posted on 12/31/16 at 4:17 pm to GaryMyMan
quote:
ETA: I thought you had a real problem not paint imperfections and a cracked windshield. Geez. Fix your windshield for $300, get an antenna from eBay and just live life, man.
For real
You have a 5 year old 4 runner that's paid off, needs a new windshield (which will cost $300 MAX), and a couple of minor things that you don't even need to fix right away, and you want to get RID of it?
You can get another 200K miles out of that car if you want to. Unless you're just the kind of person who needs a new car every three years, keeping it makes a lot more financial sense.
Posted on 12/31/16 at 4:51 pm to tlsu15
70k miles on a 4 runner is just getting broken in. I would not expect any major issues any time soon.
Posted on 12/31/16 at 7:29 pm to Janky
I buy new, do the scheduled maintenance and own for about 10 years.
I have an 08 tundra now with 200K that has not had one dollar spent on it rather than scheduled maintenance. I consider windshields regular maintenance--I have replace the windshield.
I will trade it in 17 or 18. That has been pretty cheap transportation for a half ton truck.
From a money point of view trading cars that are running and are safe is almost always a bad idea.
That said very few people trade cars from a strictly money point of view. We just get tired of what we are driving.
I have an 08 tundra now with 200K that has not had one dollar spent on it rather than scheduled maintenance. I consider windshields regular maintenance--I have replace the windshield.
I will trade it in 17 or 18. That has been pretty cheap transportation for a half ton truck.
From a money point of view trading cars that are running and are safe is almost always a bad idea.
That said very few people trade cars from a strictly money point of view. We just get tired of what we are driving.
This post was edited on 12/31/16 at 7:32 pm
Posted on 12/31/16 at 7:33 pm to Janky
4Runner Platform is usually just breaking in around 75,000 mile mark. I have bought two in succession with >130K Miles. I put 79k on the first one before someone totaled it in an accident. The 2nd one I have put 100K+ on and I'm still going. Leaks a bit of oil every 3,000 miles.
Not bad for a 16 year old truck with close to 240,000 miles.
Not bad for a 16 year old truck with close to 240,000 miles.
Posted on 12/31/16 at 9:05 pm to LSUisKING12
quote:
have a 11 4Runner SR5 with 70k on it that is paid off but has a couple problems that would cost about 3k to fix. Trying to decide whether it is worth it to fix those problems and drive for another couple of years or sell now (valued around 20k) and buy a used newer model Tahoe with more features
I have had excellent luck with full sized Chevrolet trucks, and the Tahoe is a good, sturdy vehicle.....but your 4Runner should be up for another 100,000 miles without too much trouble.
Cars these days are built pretty well. Trading them in after 70,000 miles isn't really common anymore.
Unless you have outgrown it, I would hang on to it and make the repairs to keep it going. Both your 4Runner and anything you replace it with will depreciate pretty quickly and both will ultimately serve the exact same purpose.
This post was edited on 12/31/16 at 9:10 pm
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