My 21 GTPE with 23k miles is worth what?

[Deleted User 981389]

Let me start off by acknowledging used car prices have tanked and yes pandemic prices were insane. We are were planning on purchasing the new 2024 Toyota Landcruiser when it comes out in the spring. I was contemplating on just trading in my 2012 Toyota FJ Cruiser which as of today has a Carvana (yeah lowest possible price point) value of nearly 20K. 20K for an 11 year old gas hog isn't bad. I then regrettably plugged in the info for our 21 GTPE with 23K miles. TWENTY FIVE THOUSAND? WTF - I'm going to pretend I didn't see that and keep that orange pig forever and never buy another out of spite. I am now rethinking my life choices and I'm fairly sure there won't be any new vehicles in my future for quite a long time.

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[HuntingPudel]

Heh, mine is pretty much the same and it has 14K on it. Not getting rid of it any time soon. The plan was to keep it a while anyhow. ?‍?

 

[azerik]

I'll give either of you $26k
Or, mine and $5k
Just sayin I'm here for you if you need me.

 

[AngryMan]

A force coming into play MAY be the used EV tax credit. Dealers MAY be trying to buy low (duh) so they can float the tax credit as an incentive for used car buyers to pick an EV.
Prices would still need to go lower to qualify since the limit stands at $25000 . THAT has me worried

 

[Deleted User 981389]

I'll give either of you $26k
Or, mine and $5k
Just sayin I'm here for you if you need me.

Thanks mate, I value your generosity. ?

 

[thekat03]

Let me start off by acknowledging used car prices have tanked and yes pandemic prices were insane. We are were planning on purchasing the new 2024 Toyota Landcruiser when it comes out in the spring. I was contemplating on just trading in my 2012 Toyota FJ Cruiser which as of today has a Carvana (yeah lowest possible price point) value of nearly 20K. 20K for an 11 year old gas hog isn't bad. I then regrettably plugged in the info for our 21 GTPE with 23K miles. TWENTY FIVE THOUSAND? WTF - I'm going to pretend I didn't see that and keep that orange pig forever and never buy another out of spite. I am now rethinking my life choices and I'm fairly sure there won't be any new vehicles in my future for quite a long time.

That's several thousand lower than Kelley Blue Book is estimating, but yeah, first year or two is the biggest depreciation in value, plus it's a first year of a new model with some uncertainty of how long it will last or how quickly it will become obsolete, plus ev price wars and interest rates and everything else... It is no wonder the cars aren't getting good trade in values. Annoying, but not surprising. So hopefully you love the car and want to keep and drive it for many years.

At least it's a bright happy orange!

 

[txaggies07]

I'll give either of you $26k
Or, mine and $5k
Just sayin I'm here for you if you need me.

Same.

 

[DevSecOps]

I got bad news for you my man. Don't expect much at all. My car was appraised at "Excellent Condition":

 

[AKgrampy]

I guess I do not look at my car as an investment. Normally keep them for about 10 years or more. Figure to get rid of Mach sooner but may not. I do have Options so if it goes upside down I may turn it in and purchase a new car then. For myself I have had no issues so far so if it keeps on that way why get rid of it?

 

[Deleted User 981389]

I guess I do not look at my car as an investment. Normally keep them for about 10 years or more. Figure to get rid of Mach sooner but may not. I do have Options so if it goes upside down I may turn it in and purchase a new car then. For myself I have had no issues so far so if it keeps on that way why get rid of it?

No definitely never thought of as an investment.

 

[Deleted User 981389]

I got bad news for you my man. Don't expect much at all. My car was appraised at "Excellent Condition":

Ouch! There's some solace in knowing I'm not alone.

 

[AKgrampy]

I will certainly see what the value is at final payment. I am actually hoping something significantly better has rolled out but I am not holding my breath. I want to stay with a EV but would go back to a two car ICE if nothing good available. That also means available with service in Fairbanks Alaska!

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