Will the high vehicle prices trickle down to my 500,000 mile Sequoia too?
- Thread starter atikovi
- Start date
$5000 isn't enough for him apparently...
Yeah, he wanted 6k initially and the final bid of $3527.77 wasn't enough either.
Still advertised for 6k on Craigslist.
2003 Toyota Sequoia SR5 4X4, VA insp. 1 Owner Fully Serviced May...
I have 200 more pictures and a detailed description on my webpage at: https://2003toyotasequoiasr5.blogspot.com/2022/04/500000-miles-one-owner-clean-carfax.html (copy and paste link to your browser)...
washingtondc.craigslist.org
Another guy is at 4k with only 219k and another guy at 7k with 225k.
2003 Toyota Sequoia Limited **DVD** Runs Excellent!!! - cars &...
2003 Toyota Sequoia Limited w 219,xxx Miles.. 4WD.. DVD System.. Aux/Bluetooth.. Rear View Camera.. New Battery.. Newer Tires.. Heated Seats.. Fog Lights.. Sunroof… Rear Door Latch needs...
washingtondc.craigslist.org
2003 Toyota Sequoia Limited Sport Utility 4D 225168 Cash Price,...
This Toyota Sequoia can be yours today! If you have bad credit or no credit, we can help! 2003 Toyota Sequoia Limited Sport Utility 4D Price: $6,950.00 Year : 2003 Make: Toyota Model: Sequoia...
washingtondc.craigslist.org
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OVERKILL
$100 Site Donor 2021
If I was the guy that owned the house he constantly stages in front of, I'd be demanding some sort of commission, lolYeah, he wanted 6k initially and the final bid of $3527.77 wasn't enough either.
Still advertised for 6k on Craigslist.
2003 Toyota Sequoia SR5 4X4, VA insp. 1 Owner Fully Serviced May...
I have 200 more pictures and a detailed description on my webpage at: https://2003toyotasequoiasr5.blogspot.com/2022/04/500000-miles-one-owner-clean-carfax.html (copy and paste link to your browser)...washingtondc.craigslist.org
Sure it does. The price to buy the same trim level brand new is now like 10-12k higher. The price looks better by comparison. That same thing new is now a lot more expensive than a 2021 model.
Hypothetically speaking if they doubled the price of new vehicles tomorrow the used market would respond upward dramatically even if it has 500k miles.
I remember a buddy of mine got rid of his 10 years ago for about 1700, still driving but with a bid of minor fender bender and muffler work needed.
Are you sure? That assumes that cars on the market are fairly priced. Fair market value said that 500k vehicle was worth about $3500. But he wants 6k. The market speaks, but not everyone listens.
Do you ever admit things sometimes don't make sense......like your post comparing a 20 year old vehicle with a half a million miles to a new one......
Gem in the eye of the beholder. I would keep it and drive it. It's paid off and the idea that a lot of upkeep has been done shouldn't separate you from this automobile. Cheaper to insure and with this vehicle climate it would be smart to drive this when weather is awful and don't want your better vehicle out in bad conditions. Paying taxes on new cars is criminal enough, don't give her up just yet. Maybe trade somebody for something....
I will explain it again. A buyer wants a Sequoia. They try to decide how new they want to pay for. The new model looks great but it jumped about 20% in MSRP and faces availability problems.
A few years old is selling very strong values because of the increased price of the new model. The shortage enforces the price plus markups in place today.
If the buyer doesnt want to pay what used to be brand new prices for one that is already 3-4 years old and 50k miles they have to go older and more miles. I evaluate any used car on a set assumption of a 10 year 200k mile life, so 5 years 100k miles in i would expect it to trade for less than half the new replacement cost. You used to be able to find great used cars that would have at least half their useful lives left for about 25% of the new one.
Any bumps in new prices trickle down to the entire used market. No matter the age/mileage, there is an effect. The harder it is for any consumer to choose brand new, the more demand they place on the used sector.
Your GM half ton truck for example is the closest thing to a commodity that we have the the market today. For years a shrewd negotiator could get a new one for the price of a 1-2 year old used one. New prices shot up, discounts vanished, and the used market shot way up. If you and i could get that old price on a new pickup we would pull that trigger. We are not getting that deal so our used trucks are not hitting the market.
The used buyers strongest negotiation tool has always been “i will just buy a new one instead.” Now that people cant easily do that and MSRPs are skyrocketing, it does lift all used, even ultra high mileage. New going up 20% might only translate to 5-10% on an end of life unit like the OP has but it does help his value.
TL/DR: New go up=Used go up.
In his defense, it's always true, just look at the title of this thread. OP thinks that the high prices will increase the value of his older, high mileage vehicle. I'm surprised he got what he did, but he wanted even more and didn't get it.
OP is a car flipper/dealer. He has too many cars as it is to keep it. Sometimes it makes sense to hold them, but if the car shortage is easing, he should just dump it. He's been holding onto that 6k figure for way too long, should have just kept lowering it $500 every few weeks til it sold.
It's particularly funny because he felt he overpaid for this vehicle when he bought it! And now he wants triple the money for it....
Maybe he’ll get lucky. I think miles helped but sold a 2000 V8 Tundra 4x4 extra-cab with 130k for $5000 (asking $6k) and that would not pass inspection due to rusted out bumper and few bad rust spots on body.
Condition was presented in pictures prospects complained but then I parked at local park for them to preview and then message me if they wanted to test drive. I got the right buyer who messaged me for test drive. He drove back and asked if he could pick up $5k cash and done!
Condition was presented in pictures prospects complained but then I parked at local park for them to preview and then message me if they wanted to test drive. I got the right buyer who messaged me for test drive. He drove back and asked if he could pick up $5k cash and done!
Maybe for a Tahoe or Expedition. Oh wait, no Chevy or Ford ever made it to 500K. Not sure on what planet you were searching for prices that you came up with $3500, but if you do find one at that price, expect to spend another $4,000 or $5,000 on service and repairs to make it reliable and safe.
OVERKILL
$100 Site Donor 2021
Right, so the Million Mile Ford van, or all of the various taxi and limo Ford vehicles don't exist. Gotcha. Guess I better scrub that 1.2 million km Town Car limo from my memory.
Now, I'll admit it isn't 500,000 miles, but here's a 2016 Expedition Max with 500,000km (310,000 miles) on it for sale:
2016 Ford Expedition Max 4WD 4dr Limited - Courtice
Selling 2017 Ford Expedition Max Limited in good condition. Black on black leather, power running boards, sits 8 with bench, front and rear heated seats, 20 wheels, folding mirrors, Hwy mileage Clean inside out, don't need any work. Serious only. Please call at **********
www.autotrader.ca
A quick hop onto Craigslist found this 2004 Expedition with 400,000 miles:
2004 FORD EXPEDITION - cars & trucks - by dealer - vehicle...
RUNS AND DRIVES EXCELLENT COLD AC 4WD CLEAN TITLE AUTOMATIC NO ACCIDENTS NO LEAKS 400K MILES 2 OWNERS chris Good work truck Tax and registration 227.oo
dallas.craigslist.org
So clearly, they are out there, and probably similar rarity as your Toyota.
Also, that KBB value isn't far off for an Expedition of the same age and mileage:
Maybe my sarcasm wasn't that obvious, however, I was primarily replying his comment that it was worth about $3500 when the published values are double that.
OVERKILL
$100 Site Donor 2021
Those are "from dealer" values though, that doesn't mean that's what you'll get private party. If you plug the same vehicle into the "what's my vehicle worth" category, if you choose "Excellent" under condition (which some may debate), you get:
And if you choose "Very Good" you get:
So, it depends on what you are going by and whether you and the potential buyer agree on your classification of the condition of the vehicle. $3,500 seems to be the bottom of the range for both "Excellent" and "Very Good" condition for example.
I'm going by the dealer price for a fully serviced and state safety and emissions inspected truck.
OVERKILL
$100 Site Donor 2021
Of course you are, but you aren't a Toyota dealer, at least not in the sense that KBB is referencing. You curb-stage vehicles you've purchased and flip for a profit. You don't have a showroom or a service department or storefront that a traditional dealer does, which is what "justifies" the additional margin tacked onto the price. This is why your expectations are likely unreasonable.
Maybe you'll get lucky and get what you are asking, but I don't think those pointing out that it seems overly optimistic are out-of-line.
Also, you must keep in mind that people here know that you paid less than $3,000 for it (sounds like around $2,400-2,500 based on your comments):
500,000 mile 2003 Sequoia
I got phone calls for several years from a guy who bought a Miata I’d once owned. It got a little annoying. If anything went wrong he felt like I owed him an explanation. It was a little worrisome, like it felt like he was somehow entitled to warranty support from me. I did not like that. it...
bobistheoilguy.com
So yeah, our perspective is going to be a bit different than Joe Blow who doesn't know the history.
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KBB doesn't differentiate between a Toyota dealer or an independent dealer. A dealer is anyone with a dealers licence. And what someone paid for it is irrelevant. In a free country you're not entitled to make a profit? No, I didn't pay $2,400-2,500 for it. I PUT that much into it above what I paid for it. And again, what does that have to with the asking price?
