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Pricing my used vehicle for private sale

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  • houdini1houdini1 Kansas City areaPosts: 6,020
    I have been looking at a 4 wheel drive 2002 Tacoma, 4 doors, 128,000 miles, v6 engine. The owner is a neighbor of mine and he has asked me to make him an offer.

    He has owned the truck for about 5 years and it appears to be very well taken care of. I am thinking around $9,000 tops for a private sale. What do you guys think?

    Any help would be appreciated !

    2013 LX 570 2010 LS 460 2002 Tacoma 4x4

  • stickguystickguy Posts: 15,412
    this I would like to know, since I would love to find something like that truck. But, I was thinking more like 1/2 that price! So one of us must be delusional.

    though, if it has a stick, I probably pay more!

    2015 Hyundai Sonata 2.4i Limited Tech (mine), 2013 Acura RDX (wife's) and 2007 Volvo S40 (daughters college car)

  • delthekingdeltheking Posts: 1,152
    edited August 2010
    That is way overpriced in MHO,Toyota or not. A brand new 2010 4dr Tacoma right now is selling for 18.6k which includes a $1000 rebate.. An 8yr old truck with 126k miles for 9k --- no way. And in general trucks are driven and used more roughly and harshly than regular cars plus lots of towing. No way I am paying 9k for that. :P

    Used Dodge and Chevy trucks can be got for much much less than 9k easily especially the base models. The Ford Ranger used is dirt cheap and you can get a very new 2 0r 3 yr old one with very few miles for less than 9k easily.

    The Tundra is a better value used than the Tacoma. Tacoma has the highest resale value in trucks. I personally would buy a used Tundra instead of a Tacoma. I have a base 2dr 2005 Tundra with auto tranny and boy , I love driving it more than my Lexus. No need for a truck for me, but in Texas,as they say,everyone has a truck !! :shades:
  • qbrozenqbrozen Posts: 17,599
    Actually, you are right on the money. It is worth $7500 as a trade in my neck 'o the woods.

    No way a new one is $18k. Maybe it is not comparable to this one. 4wd 4-doors... that's got an invoice of $24,500. TMV after $750 rebate is still $24k.

    '13 Stang GT; '15 Fit; '98 Volvo S70; '14 Town&Country

  • cccompsoncccompson Posts: 2,388
    Used Tacos bring outrageous money and I think your $9000 tops is, in fact, not too far from what it could bring on the open market (depending on condition and options).

    However, you're not talking about an open market sale here, but rather a neighbor who has asked you to make an offer.

    Suggest you do just that, starting low. You can always go up if need be.
  • houdini1houdini1 Kansas City areaPosts: 6,020
    Great input guys and thanks for all your comments. Even though a neighbor, he lives down the street and we are not all that well acquainted. I don't have a feel for what he is thinking at all. I would not be surprised if he would take $7500. or if he wants $15,000. I will let you all know what happens.

    2013 LX 570 2010 LS 460 2002 Tacoma 4x4

  • delthekingdeltheking Posts: 1,152
    Sorry about that.Totally missed the 4wd 4dr part. Yes, I priced the 2wd 2dr truck. But yes,used Tacos are priced very high. Still I think an 8 or 9 yr old truck with 126k miles - I personally would not buy it. But Tacos have rock solid reliability. :shades:

    Just a query . Does a similar Tundra have the same trade in value or atleast closer ? Thanks.
  • delthekingdeltheking Posts: 1,152
    Whatever you do , let him make the first offer. Then you would get an idea of his expectations- whether he is highballing you or not !! ;)
    Good luck.
  • qbrozenqbrozen Posts: 17,599
    Suprisingly big difference. I looked up an '02 Tundra 4-dr 4wd V6 with 128k miles.... $5500! So like 30% less than a comparable Tacoma. The V8 only adds about $250.

    '13 Stang GT; '15 Fit; '98 Volvo S70; '14 Town&Country

  • delthekingdeltheking Posts: 1,152
    Oh Boy !! So the Tundra is cheaper than a Tacoma considering that it is much bigger and priced higher when new. So with that info , a Tundra is certainly a better value than the Tacoma especially the 4wd version. Used car values can sometimes certainly be so unpredictable and surprising !!
  • greg128greg128 Posts: 369
    I would check the frame for rust. They are known for it.
  • delthekingdeltheking Posts: 1,152
    And how did you forget SUA !! They are known for it too !! :sick:
  • houdini1houdini1 Kansas City areaPosts: 6,020
    I got more hits by googleing chevrolet P.U. frame rust. Thanks for the tip.

    2013 LX 570 2010 LS 460 2002 Tacoma 4x4

  • sebring95sebring95 Posts: 3,233
    Keep in mind you're probably pricing a crew-cab Tacoma (4-door) to a typical ext-cab Tundra. Tundra did not come in a full crew-cab until 2004. I would bet model-for-model they're worth about the same which sort of makes sense....when I priced new in 2005 they were almost identical out the door. I bought the Tundra. Early Tundras also have a poor history with transmissions....so that's probably figured in there somewhere since 120k miles is doing pretty good for the '00-'02 models.

    In my neck of the woods...4x4 means big money. Last winter I sold a rought '98 F-150 reg. cab 4x4, V6 auto with 130k miles for $4,500. Sold in one day for full asking price and I had about nine more calls before I could delete the craigslist ad. I obviously under-priced it but I like a fast easy cash sale. That '02 Tundra would bring $8-9k on an easy sale. Tacoma would be about the same maybe a little more.
  • sebring95sebring95 Posts: 3,233
    There's just slightly more Chevy pickups (and by slightly I mean a gawd awful more). I had a Tacoma and a Tundra and both had more rust than anything else I've owned in such a short period of time. Loved them for what they were... but Toyota just has issues in that regard. You'd be crazy not to take a peak under the back end just to have a look.
  • kyfdxkyfdx Posts: 30,476
    Toyota actually had (has?) a program in place to buy back old Tacomas, due to rusted frames.. So, it's not just an idle comment, to say you should have a used one checked for that problem..

    My wife's friend had a late '90s Taco with a boatload of miles, and they gave her a ridiculously high settlement for it... and, now she is driving a new RAV4!

    Other than that one, admittedly major, problem.. Her 4WD, stick-shift Tacoma was bulletproof... (well..as long as the bullet didn't hit the frame..)

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • delthekingdeltheking Posts: 1,152
    What a big scam this Toyota SUA was?? The Congress just wanted Obama Motors to increase it`s sales through this deceitful tactic. It`s been proved to be driver error. And frame rusts !! LOL !! Chevy must have had the most frame rust trucks ever ..
  • greg128greg128 Posts: 369
    edited August 2010
    And frame rusts !! LOL !! Chevy must have had the most frame rust trucks ever ..

    I haven't heard of GM replacing complete frames on 8 year old trucks at a cost of around $12,000 per vehicle, which is exactly what Toyota has been doing and contiues to do. They don't want the liability for parts falling off their frames and causing accidents. They also don't want people to come to the realization that
    these trucks only have around a 10 year lifespan.

    Around here there are loads of 15 year old and older (some much older) American
    branded Pick ups still on the road. I don't see many old Toyotas.
  • greg128greg128 Posts: 369
    I just got off a Tundra forum and the Toyota frame rust problem seems to be accelerating. Many are complaining about premature rust on trucks as new as 2006 model years. In addition to the Tacoma frame replacement program there is
    also a Tundra Program. One poster commented that his Chevy Silverado had a much more substantial frame than his Tundra. I live in New York and have zero rust on my 2006 Silverado frame.

    This is and will continue to be a major problem and a huge financial hit for Toyota.
    If and when this hits the media in a big way Toyota is toast

    Here is the forum:

    http://www.tundraheadquarters.com/blog/2010/05/06/toyota-launches-00-03-tundra-f- rame-replacement-program/
  • houdini1houdini1 Kansas City areaPosts: 6,020
    In those situations where rust is a problem, it sounds like Toyota is taking care of their customers by replacing the frame or buying back the truck.

    I have no problem with that. What else would you want them to do?

    2013 LX 570 2010 LS 460 2002 Tacoma 4x4

  • qbrozenqbrozen Posts: 17,599
    Keep in mind you're probably pricing a crew-cab Tacoma (4-door) to a typical ext-cab Tundra.

    I was going to make that comment, but Galves still tells me its a 4-door.(?) I guess both sides in the rear have little suicide doors.(?)

    '13 Stang GT; '15 Fit; '98 Volvo S70; '14 Town&Country

  • houdini1houdini1 Kansas City areaPosts: 6,020
    edited August 2010
    The 2002 Tacoma that I am looking at has full doors in the rear with outside hardware etc., not suicide doors.

    2013 LX 570 2010 LS 460 2002 Tacoma 4x4

  • sebring95sebring95 Posts: 3,233
    I was going to make that comment, but Galves still tells me its a 4-door.(?) I guess both sides in the rear have little suicide doors.(?)

    Correct. Tundra only came in a "normal" extended cab with the suicide doors until 2004.
  • delthekingdeltheking Posts: 1,152
    edited August 2010
    To those minute number of customers,Toyota is absolutely taking care by replacing or buying back for $12k. $12k-- That`s a lot of money for 8-10 yr old trucks. :shades:

    GM has no funds to do that. They would again beg the Congress for money money if they had to buy back stating it is a safety issue concerning the American buyers. :sick:

    And that will be the last post regarding these issues. Dont want to hijack this thread !
  • qbrozenqbrozen Posts: 17,599
    Oh, I know the Taco has 4 full doors. That's how I priced it.

    '13 Stang GT; '15 Fit; '98 Volvo S70; '14 Town&Country

  • houdini1houdini1 Kansas City areaPosts: 6,020
    edited August 2010
    Yeah, I can now see when you said suicide doors you were talking about the Tundra.

    The guy still hasn't given me a price on the Tacoma. I assume he has changed his mind about selling so I am looking elsewhere.

    2013 LX 570 2010 LS 460 2002 Tacoma 4x4

  • igozoomzoomigozoomzoom Waleska, GeorgiaPosts: 796
    I have a '95 Jeep Grand Cherokee Laredo that my mom ordered new back in November 1994. She drove it for 11 years, then my dad used it for a few years before they gave it to me as a 'spare' three years ago. So, technically it's a one-owner as the title and registration have always been in my mom's name for the entire 16 years it has been in our family.

    It has been very well maintained mechanically and has no known mechanical issues. Unfortunately, it has always been parked outdoors exposed to years of Georgia sun and hot/cold extremes. The clearcoat on the paint is peeling on the hood and roof in several spots and the lower body cladding and bumpers show some fading. The interior is in EXCELLENT condition - spotless cloth seats and carpet, dash and center console are in great shape...the only minor interior issues are the headliner, which is coming loose above the driver's side door and the leather steering wheel cover is cracking (a new cover is an easy fix).

    It's 2WD, has the 4.0L Inline-6 and 4-speed automatic with 196,000 miles on it. The powertrain is all original and it doesn't use oil or smoke on start up, oil pressure is good and the tranny shifts same as always (oddly syrupy, but they all did). A/C blows cold, new Dayton tires 12k miles ago, radiator replaced last year and all maintenance up to date.

    Options are probably meaningless on a car this old in terms of value, but I'll list the major ones anyway-
    Infinity Gold CD stereo w/ amp
    Dual power front seats (cloth)
    Overhead console w/ compass & trip computer
    Towing Pkg (beefier power steering pump, hi-capacity oil and trans fluid cooler)

    I'm trying to figure out where to start the asking price??? The pricing guides are all over the map-
    KBB- Private Party- Good cond- $2305 and Fair cond- $1780
    NADA- Clean Trade-In- $1550 and Clean Retail- $3175
    Edmunds TMV- Private Party- Average- $581 and Good- $988
    TMV- Retail - Average- $1257 and Good- $1936

    The KBB price range is exactly what I had in mind before I checked any of them. I was thinking about asking $2300 (or maybe even $2500) and sell it for at least $2000 (with a bottom dollar of $1800)....input?
  • stickguystickguy Posts: 15,412
    if it does run well like you indicate, i would shoot higher. 4K might be a bit much, but I would ask at least $2,995, and figure to get something close.

    at least selling a well used car is an example of feedback telling you your answer. Put the ad in, and if you get no hits for a few days, too high. If you get bombarded with calls/emails immediately, too low!

    2015 Hyundai Sonata 2.4i Limited Tech (mine), 2013 Acura RDX (wife's) and 2007 Volvo S40 (daughters college car)

  • qbrozenqbrozen Posts: 17,599
    Ummm... hate to be the one to say it, but I think Edmunds private party is much more accurate on this one than the others. Exterior is in poor shape, sagging headliner, and the real kicker ... 200k miles! It has exceeded its life expectancy. What's more ... its 2wd and the 6-cyl. There is nothing desirable here. Maybe I'm too pessimistic, but you should be pleased to get a grand for it.

    '13 Stang GT; '15 Fit; '98 Volvo S70; '14 Town&Country

  • sebring95sebring95 Posts: 3,233
    edited October 2010
    I think you're on the right path with your pricing. Might be a tad high but in that ballpark....I'd say $1,500 bottom dollar if it's as good mechanically as you say. Pretty much anything decent that runs is pushing $1,000 these days so I think Edmunds is low on their pricing. Straight-six is desirable....they run for 300k miles easily. I sold a barely running, smashed up '89 Ford Escort without a title for $500 awhile back.
This discussion has been closed.