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My truck is worth more today then when I bought it 4 years ago... Crazy that automobiles are now an appreciating asset...
by syshum 5y ago
My truck is worth more today then when I bought it 4 years ago... Crazy that automobiles are now an appreciating asset...
- carabiner 5y agoMy truck, a 2015 Tacoma, is worth $4k less than what I bought it for 3 years ago. So totally normal depreciation in my case.
- post_break 5y agoA tacoma is one of the few vehicles that don't depreciate. My 2017 Chevy colorado I just offloaded for 3k less than I paid essentially, that's crazy.
- mrfusion 5y agoI wonder why their lease prices don’t reflect the low depreciation?
- throwaway0a5e 5y agoBecause why would they when they can just not and make even more money. It all makes sense when you realize that luxury car brand economics apply to pretty much every Toyota (other than arguably whatever their most subcompact hatch offering of the year is) because that's who their buyer demographics are.
- technothrasher 5y agoA quick look has the three year lease residual values on a Tacoma in the 75-80% range. That's higher than other trucks in its class (such as the Chevy Colorado at like 64%). With seemingly similar money factors and sticker prices, that will absolutely reflect in a monthly lease payment.
- deleted 5y ago[deleted]
- nathancahill 5y agoWorth to whom? Have you listed it for sale? The market for used Tacomas and 4Runners is off the hook.
- carabiner 5y agoCarvana. Do you think it'd be much different if I tried listing it on Craigslist?
- lastofthemojito 5y agoI entertained the idea of selling my '16 Mazda6 during all this madness so I filled out the online appraisal forms for Carvana, CarMax and Vroom. CarMax's offer was the highest - more than I paid for the car in 2018. Carvana and Vroom's offers were a bit lower. If you get serious about selling, you should obviously get multiple offers.
- carabiner 5y agoInteredasting. I just tried Carmax, Vroom, and KBB. Carmax gave $16k (so about what I originally paid), Vroom gave $12k about the same as Carvana. KBB said it was worth $17k.
- Domenic_S 5y agoVery much yes. Tacos have a cult following and were somewhat tough to get decently optioned models of even pre-pandemic. I would not be surprised in the _least_ if it's really worth more than you paid.
- nathancahill 5y agoBesides the advice in the other response, doing a search for your model across different websites should give you an idea of what they're listing for.
- lotsofpulp 5y agoSomeone left a post it note on my friends 2002 4Runner with their phone number in case my friend wanted to sell it. In northeast USA, after 20 years of salted winter roads.
- davidw 5y agoThis is exactly what we've done to the housing market in the US. For some reason, people intuitively get why it's happening with cars, but housing... it's some kind of weird mystery why it's so expensive in so many places.
- alphabettsy 5y agoHousing doesn’t seem like a mystery at all. Home prices have been increasing rapidly for several years and supply is partly constrained by the pandemic.
- dionidium 5y agoThis has actually been a favorite analogy of YIMBYs for quite some time. "What if the supply of new cars were constrained for some reason?," they'd ask. "What would happen to the market for new cars? Would prices go up or down? Would people who had planned to buy a new car settle for a used one? Would this drive up prices?" Etc, etc. And of course that's exactly what happened.
- culopatin 5y agoAre you accounting for inflation?
- oceanplexian 5y agoThe thing is, cars aren’t actually worth more today than they were 4 years ago, it’s just that your money is worth less and assets like cars+housing are where inflation is most visible.
- tonyedgecombe 5y agoOnly if wages have been keeping pace with inflation. I don't think that has been the case.