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When are vehicles at their highest resale value?

Posted on 12/30/16 at 3:49 pm
Posted by LSUisKING12
Baton Rouge
Member since Sep 2010
320 posts
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?
Posted by OysterPoBoy
City of St. George
Member since Jul 2013
34970 posts
Posted on 12/30/16 at 7:28 pm to
General rule of thumb is miles are inversely proportional to value.
This post was edited on 12/30/16 at 7:32 pm
Posted by NewIberiaHaircut
Lafayette
Member since May 2013
11540 posts
Posted on 12/30/16 at 8:49 pm to
I can't directly answer your question, but I would repair it. That vehicle has a lot more miles in it.
Posted by Ton
New Orleans
Member since Dec 2015
156 posts
Posted on 12/30/16 at 9:02 pm to
Whats the issue? I may be interested for the right price.
Posted by LSUisKING12
Baton Rouge
Member since Sep 2010
320 posts
Posted on 12/30/16 at 9:11 pm to
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 by GaryMyMan
Shreveport
Member since May 2007
13498 posts
Posted on 12/30/16 at 9:18 pm to
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.
This post was edited on 12/30/16 at 9:23 pm
Posted by carguymatt
Member since Jun 2015
538 posts
Posted on 12/30/16 at 9:18 pm to
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 by Ton
New Orleans
Member since Dec 2015
156 posts
Posted on 12/30/16 at 9:21 pm to
Those aren't real issues so I would just shell out the money to fix it.
Posted by Twenty 49
Shreveport
Member since Jun 2014
18725 posts
Posted on 12/30/16 at 11:16 pm to
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 by TheSHU
Baton Rouge, LA
Member since Jan 2010
1075 posts
Posted on 12/31/16 at 2:57 pm to
quote:

vehicles are at their highest resale value around mid feb to late march



Tax time.
Posted by tlsu15
Capital of Texas
Member since Aug 2011
10010 posts
Posted on 12/31/16 at 4:17 pm to
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 by Janky
Team Primo
Member since Jun 2011
35957 posts
Posted on 12/31/16 at 4:51 pm to
70k miles on a 4 runner is just getting broken in. I would not expect any major issues any time soon.
Posted by I B Freeman
Member since Oct 2009
27843 posts
Posted on 12/31/16 at 7:29 pm to
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.
This post was edited on 12/31/16 at 7:32 pm
Posted by GFunk
Denham Springs
Member since Feb 2011
14966 posts
Posted on 12/31/16 at 7:33 pm to
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.
Posted by member12
Bob's Country Bunker
Member since May 2008
32089 posts
Posted on 12/31/16 at 9:05 pm to
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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