Used cars disappearing ?

[charlier]

A few years after buying my Toyota Tundra I started getting letters and phone calls from my Toyota dealer telling me that due to "High Demand" they were looking for pre-owned Tundras  X% over book value and throw a number at me. That number was interesting even though I knew it was a sales tactic/ploy/game. Finally one day when the dealer called with the pitch I took the call. I told them if they needed my Tundra so badly I would be come to their dealership that afternoon and I would be happy to give them the keys to my truck for the keys to a brand new Tundra. Even up swap, no cash at all changing hands. That was the last time I got one of those calls.

 

FYI, Toyota Tacoma sales have always been strong. When Ford and others withdrew that let the small truck market to Toyota. A few years ago Ford, Chevy, etc came to their senses and reentered that market segment. Even with the competition Tacoma sales in 2019 amounted to 39% of that market's sales. 

[charlier]

3 hours ago, padgett said:

Actually I do have multiple fridges, one in the front garage (mostly beer), another in the kitchen , and a mini in the 2nd floor computer room. And 7 TVs (well the 36" Sony is over 300 lbs so in a closed cabinet in the living room)), two are also computer monitors, a 43" 4K in the bedroom that hasn't been on for quite a while, an older Sony 55" 3D in the guest room, and a 75" 4k in the TV room I bought on a cyber-monday sale last year (only one with a cable connection). Some bought in the last millennium but none stacked)

 

If you ever need a 12 volt portable refrigerator/freezer let me know. I bought one several months ago and it works great. Even inside a hot car trailer it keeps my beverages ICE COLD. Also comes in handy when the power goes off at the house. 

[padgett]

Thanks but I have a (car related and AACA eligible) 44qt 12v Igloo I take on trips (have a 110v adapter and can stand up like a fridge in a hotel), also a smaller one that holds a six pack of tall boys.

 

ps in Florida it is when not if you will lose power, sometimes for days. I have about 12kw of portable generators and UPSs everywhere (can run the equipment closet from a 12v battery). Amazing what is acquired when you are in the same place for a long time.

Edited September 29, 2020 by padgett (see edit history)

[gossp]

43 minutes ago, plymouthcranbrook said:

I wonder if some folks think that if a vehicle is a bit beat up it will sell cheap?

I really think that is the case.... most of the time. 

[Robert G. Smits]

I was just researching prices on 1st generation Lexus SC 300/400 autos (1991-2000) on Bat.  The average price on confirmed sales is up $2000 in the last nine months.  They are great road cars and AACA tour eligible 1996 and older. 

[TTR]

While I don’t have interest of selling at the moment, but years ago I developed a habit of checking the resale value of my daily driver every 4-6 months and according to KBB, NADA & couple of recent cash offers by neighboring dealers, it appears my ‘16 Pickup which I bought new in May of ‘17 has been going up in value at the tune of +/-$1000 a month since the beginning of pandemic.

IIRC, I paid around $40K and at the beginning of this year it appeared to have retail value around $21-22K, but currently seems valued at almost $30K (was offered $28K cash a month ago). 

Weird, who'd ever thunk a white pickup could be so "desirable". 🙄

 

If this keeps up, maybe sometime next year it’ll be worth the same or more than I paid for it new ? 😳 
But since I’m not looking to sell, its perceived value is moot anyway. ☹️

OTOH, should an unexpected need for major insurance (salvage) claim become necessary, I sure hope my carrier uses same data to settle.

Edited September 30, 2020 by TTR (see edit history)

[alsancle]

Hopefully I can pick up my "new" truck tomorrow and I'll post some pictures of this 120k mile beauty that cost me 14k and I'm still thrilled to get it.   Weird times.

[Doug Novak]

When I worked as an Outside Electrical Sales Engineer the company gave their Sales People Company Cars. You could pick the options and they paid for all expenses including Gas, Tires, Etc. I was even able to get them to make it a four door with front Bucket seats.

You drove the cars for four years and then got a new one....and if you liked the car you could buy the one you were driving if you wanted it. We did buy them for the Family as a second. The cost was what a Dealer would pay, plus you knew what you were getting. 

[JACK M]

12 hours ago, TTR said:

OTOH, should an unexpected need for major insurance (salvage) claim become necessary, I sure hope my carrier uses same data to settle.

 

Yea, right....

[Robert G. Smits]

I was mentioning this to my morning coffee group today.  A friend remarked that his Lincoln in going off lease in a couple of months and and he is getting private offers to take over the lease so the new leesor can purchase it at termination.  Apparently the buy out price is predetermined  and much lower than current value.

[JamesR]

Glad we bought used cars for my kids last year, and not this year, based on what I'm hearing. A Chevy dealership sold us an '05 Impala in great shape with 89k miles for $4900. It's needed brakes and wheel bearings, but has been a great car. Even last year, there was a fair bit of buyer competition for that car. My daughter's 2010 Corolla is a great car, too...when she's not getting into accidents with it.

[TTR]

3 hours ago, JACK M said:

 

Yea, right....

Should they initially choose not to, it might be an indication they just haven’t seen my name yet in their (industry wide ?) files of “Oh s**t !”.  😳

Edited September 30, 2020 by TTR (see edit history)

[39BuickEight]

Boats and RVs are in short supply too right now.

[alsancle]

The dealer that sold me this today told me the issue is people don’t want to use public transportation anymore.

 

113k miles, 14k, but has the new frame.

 

 

[padgett]

Is this frame replacement a Toyota thing or Art Morrison ? Last I heard of one it was for a TVR.

[alsancle]

51 minutes ago, padgett said:

Is this frame replacement a Toyota thing or Art Morrison ? Last I heard of one it was for a TVR.

 

Toyota warranty replacement.  They boobed up their rust proofing and have had to replace the frames on a number of trucks.  Sometimes that means replacing parts of the suspension, leaf springs, etc, too.

 

My Son's truck looked like a 100k mile beater on top, and a brand new truck underneath.

[Frank DuVal]

6 hours ago, padgett said:

Is this frame replacement a Toyota thing

 

Very much a Toyota screw up thing!  A quick Google search will bring up maaannny hits. I have a co-worker who bought a used Toyota truck about three years ago with a new fresh frame.

[Frank DuVal]

5 hours ago, alsancle said:

My Son's truck looked like a 100k mile beater on top

 

You are 20 years behind the time with your comment. A 100K mile truck now is a cream puff, no matter the brand! Unless you drove it off a cliff......😄

 

A co-worker last year sold his mother's Toyota truck with 350K miles on it and got over blue book!

[alsancle]

7 hours ago, Frank DuVal said:

 

You are 20 years behind the time with your comment. A 100K mile truck now is a cream puff, no matter the brand! Unless you drove it off a cliff......😄

 

A co-worker last year sold his mother's Toyota truck with 350K miles on it and got over blue book!

 

Actually,  I agree that these days a 100k mile truck can be a cream puff.   Your co-worker's story is why my kids all got Tacoma trucks.   On top of that the 4 banger kept them from drag racing and the stick kept them occupied with driving. 

 

Other than the minor little frame issue in salt states the Tacoma is a GREAT vehicle..

[charlier]

8 hours ago, Frank DuVal said:

 

Very much a Toyota screw up thing!  A quick Google search will bring up maaannny hits. I have a co-worker who bought a used Toyota truck about three years ago with a new fresh frame.

 

FYI, Toyota's frame supplier (Dana Holding Corp. of Maumee, Ohio) is responsible for the screw up and Toyota is on the hook to replace the frames on up to 1.5 million vehicles. Hopefully Dana shares in the estimated 3.4 Billion dollar cost of their mistake.

 

A while back I ran into a Tacoma Owner in the parking lot at the food store. He told me he loved his truck and it had close to 400,000 miles on it with only having to do regular maintenance on it and he replaced one starter. Not the first story I heard like that wither with a Toyota.

[padgett]

So in the future a Toyota with an original frame will be worth more ?

[alsancle]

10 minutes ago, padgett said:

So in the future a Toyota with an original frame will be worth more ?

 

As guess as a collectible, yes.  But as a regular car not now.  Big premium for the new frame.  At least 3k and I wouldn't buy one without the new frame. 

[cahartley]

Last November while on the way back to town from picking up a choir director (I'm the organist) for an evening church service I smoked a BIG deer with my 2002 Chevy S10, pretty much ruining the entire front end except the passenger side fender........luckily the doors were spared.

I bought it used for $6500 with about 35,000 miles on it and it still has just under 80,000 miles on it.

While deciding to have it repaired or settle for a totalled payoff I spent some serious time searching for similar vehicles and even THEN I was STUNNED at the prices for used pickups.

I wound up sticking $2800 in it to fix it because I know what I have and had just recently stuck $1100 in it having an entire new brake system put in it and some other things.

To replace what I have would have cost me at least $8K and I would have no idea what I was getting.

I plan on driving it until it just stops.......I have nobody to impress nor the desire........ 😁

[Buffalowed Bill]

On 9/29/2020 at 8:11 PM, Robert G. Smits said:

I was just researching prices on 1st generation Lexus SC 300/400 autos (1991-2000) on Bat.  The average price on confirmed sales is up $2000 in the last nine months.  They are great road cars and AACA tour eligible 1996 and older. 

I made a comment on the phenomenon in a previous thread, so just tune out the old man if you remember it. I drive 20-30 yo cars, not all of which were of that old when I bought them. Over the years I have added some of the same type of car to my driving stable as a good one would come up. This allowed me to track the car's value, as well as other similar cars as they aged. What I saw seemed to see jibe with something that I had read years ago. Cars depreciate until they have little value at about 20-25 yrs old. By about 20 yrs old, only 1% of the total production has survived. Drop in value and the model's disappearance happens at a different rate, depending on the car, but at about 25 yrs of age only the most special are even salable. Suddenly the model just disappears, not totally, but you no longer see them on the road. The wrecking yards are full of them, but with little demand for their parts they too disappear. Now the good cars reappear, but not at the price for which they could have been bought, but only at a premium. 

 

The savvy buyer who understands the process, can watch until the car begins to disappear. This is the sweet spot where even the best cars have little value and the best deal can be made. The process repeats itself over and over again. If you doubt it, take any model 25-30 yrs old and try to find a good one on Craigslist. Your car of choice may not mirror exactly to Lexus, which has always been in high demand, but I think you will find the same thing has happened to it.

[Robert G. Smits]

On 10/3/2020 at 3:45 AM, Buffalowed Bill said:

same thing has happened to it.

Interesting observation that I had never considered.  

thanks

[padgett]

Agree with BB that has been a commom pattern in the past but suspect other forces are at work now pushing prices down around June from a lack of driver car sales but now the market has dried up and prices are rebounding. Suspect this is a good time to sell 2- to 4+ cars.

[marcapra]

My brother bought a brand new Tacoma V-6 with the towing package in 2017.  He sold his old 2002 Tacoma for about 8K.  He has a bad back and was unsure at first if I wanted the Tacoma. He test drove a Nissan Frontier which had a more comfortable seat.  But he liked that towing package on the Tacoma, since he had just bought a new travel trailer.  After about one week, he said he was going to take the Tacoma back and sell it back to the dealer.  His back was really hurting.  I went out to check out the seats and he was right.  The Tacoma seat would be perfect for someone under about 170 lbs and under 5' 9".  But for a bigger man they just don't work, which was confirmed by Consumer Reports.  But he finally decided to keep it, despite his aching back.  He'd lose a fortune selling it back after he'd put several hundred miles on it.  Lesson, be totally sure you want something before you decide to buy!  

 

[alsancle]

3 hours ago, marcapra said:

My brother bought a brand new Tacoma V-6 with the towing package in 2017.  He sold his old 2002 Tacoma for about 8K.  He has a bad back and was unsure at first if I wanted the Tacoma. He test drove a Nissan Frontier which had a more comfortable seat.  But he liked that towing package on the Tacoma, since he had just bought a new travel trailer.  After about one week, he said he was going to take the Tacoma back and sell it back to the dealer.  His back was really hurting.  I went out to check out the seats and he was right.  The Tacoma seat would be perfect for someone under about 170 lbs and under 5' 9".  But for a bigger man they just don't work, which was confirmed by Consumer Reports.  But he finally decided to keep it, despite his aching back.  He'd lose a fortune selling it back after he'd put several hundred miles on it.  Lesson, be totally sure you want something before you decide to buy!  

 

 

I think for an every day car  I would take an F150 over the Tacoma all day long.  Especially towing something.   But as a "shop truck" or a beater or a starter car a Tacoma wins.  Obviously not a 30k new one but a used one.    It will run FOREVER and when it stops and you trade it in it will go to Africa or some third world country and last another 20 years.

[padgett]

Probably sacrilege but given that I'd find a Frontier seat to put in the Tacoma and put the stock seat in a big baggie. Either that or find a really good upholsterer to re-contour the seat (an electric meat carving knife works well on foam - personally do not have a problem with height but too narrow a seat makes my right (accelerator) hip hurt after about an hour.

 

For my Crossfire, I bought a second driver's seat from a wreck, removed the seat cover, and attacked the foam. Soth Florida is a three hour drive and was comfortable (of course it also required use of a sawzall to get the seat reclined far enough for me...)