What do you consider insane resale value . . . .
Lexus Test Driver
Joined: Mar 2008
Posts: 9,978
Likes: 240
From: California
Sold today: 2005 Acura MDX AWD with touring package and 155k miles. Mint condition. Sold for $6000. We were pretty impressed. There were several parties making us offers the second it hit the lot.
Lead Lap
Joined: Mar 2015
Posts: 4,513
Likes: 345
From: In your head
Well, everyone can make mistakes, that's for sure. Like I stated before, no automaker is perfect.
However!
1. Those frames were made by Dana, an American company that makes frames and axles for lots of companies.
2. Toyota replaced the frames for free.
Toyota is pretty good at making things right from what I've seen. (Free dash replacements and such) And the numbers don't lie, of all the car makers, theirs are the least problem-prone.
However!
1. Those frames were made by Dana, an American company that makes frames and axles for lots of companies.
2. Toyota replaced the frames for free.
Toyota is pretty good at making things right from what I've seen. (Free dash replacements and such) And the numbers don't lie, of all the car makers, theirs are the least problem-prone.
As long as Toyota enjoys a broad market dominance sales wise in the globe, and keeps to the platform and parts sharing, buyers will continue to enjoy the lowest operating costs. The minute Toyota separates brands and suppliers with a wall and every unit starts developing their own proprietary tech real world data on parts performance hits the can, and also would increase operating costs.
Thread Starter
Lexus Champion
Joined: Aug 2012
Posts: 4,592
Likes: 30
From: TN
Bought my 2012 Tacoma DCLB TRD Sport Prerunner V6 in 11/6/2012 for $25,000. The last 2012 they have on the lot and being 2WD in Nebraska is hard to sell. I drove it until 8/31/16 (almost 46 months) with about 68000 miles. I got hit TWICE (in parking lot and at stop sign - None is my fault) and received about $5100 from insurance. I kept the money and did not fix it.....I traded it in for a '16 Tundra CM Limited 4x4 for $21464. With 7.25% sales tax in Nebraska, that 21464 becomes $23020, meaning I lost about $2000 after 4 years of owning it. With the insurance $$$$ I actually PROFIT from owning the truck.
The dealer put the "certified" sticker on it, listed $26,900 and sold it in 1 week. I felt bad for the guy who bought it since he might pay for about $23k-$25k which is a lot for a 4 years old 2WD truck...who happens to live the the area I drive by everyday and saw him at least 5 times. I fell out of love with the Tundra in less than 4 months and traded it in for a Lexus NX200t FSport...I lost some $$$ on the Tundra though. Bought it for $40465 (MSRP $45665), traded it in for $38000 + $1000 Rebate on the NX + $1000 Lexus Certificate from the Sales Manage that gave me.My Dealer is Lexus Plus so No Negotiation...So, overall I considered it is a small penalty to get rid of the Tundra.
The dealer put the "certified" sticker on it, listed $26,900 and sold it in 1 week. I felt bad for the guy who bought it since he might pay for about $23k-$25k which is a lot for a 4 years old 2WD truck...who happens to live the the area I drive by everyday and saw him at least 5 times. I fell out of love with the Tundra in less than 4 months and traded it in for a Lexus NX200t FSport...I lost some $$$ on the Tundra though. Bought it for $40465 (MSRP $45665), traded it in for $38000 + $1000 Rebate on the NX + $1000 Lexus Certificate from the Sales Manage that gave me.My Dealer is Lexus Plus so No Negotiation...So, overall I considered it is a small penalty to get rid of the Tundra.
Lexus Fanatic
Joined: Oct 2003
Posts: 94,208
Likes: 220
From: Virginia/D.C. suburbs
The average new vehicle, in the U.S., in general, depreciates (roughly) 50% or so in the first three years of ownership....sometimes a little more, sometimes a little less. So, as I would see it (though I wouldn't call it an insane value) if you can get more than 50% after 3 years, you're doing well....or at least OK.
Also, remember that, even for the same vehicle, there are several different residual values (Retail, Trade-in, and Private-Party), and, within those categories, values based on mileage, age, options/equipment/packages, and general condition (Poor, Fair, Average, Good, Excellent)
Retail is what a typical dealer would sell it for on the used-car lot....assuming that it is not a CPO (Certified Previously-Owned) vehicle, which adds more.
Trade-In, of course, is pretty much what it implies.......what a dealer would typically give you as a trade-in value towards a new vehicle.....or in some cases, simply buying the vehicle from you.
Private Party is what you could typically ask for in a private sale to another individual, where a dealership is not involved.
Typically, Retail is the highest value, and Trade-in the lowest.
Also, remember that, even for the same vehicle, there are several different residual values (Retail, Trade-in, and Private-Party), and, within those categories, values based on mileage, age, options/equipment/packages, and general condition (Poor, Fair, Average, Good, Excellent)
Retail is what a typical dealer would sell it for on the used-car lot....assuming that it is not a CPO (Certified Previously-Owned) vehicle, which adds more.
Trade-In, of course, is pretty much what it implies.......what a dealer would typically give you as a trade-in value towards a new vehicle.....or in some cases, simply buying the vehicle from you.
Private Party is what you could typically ask for in a private sale to another individual, where a dealership is not involved.
Typically, Retail is the highest value, and Trade-in the lowest.
Last edited by mmarshall; Jan 29, 2017 at 05:26 PM.
Lead Lap
Joined: Oct 2002
Posts: 4,664
Likes: 18
From: TX
I'm going to take this another direction and go back to 2002 when the SC430 was first introduced. There were lines of loyal Lexus owners on waitlists with deposits clamoring for the new SC and not enough of them to go around. So, if a used or demoed SC430 was sitting on the lot the dealer was charging $1000's more than the cost of a new one because it was immediately available. Typically the car would have dropped in value by 10% or more just by driving it off the lot. Now that is insane resale value.
Thread Starter
Lexus Champion
Joined: Aug 2012
Posts: 4,592
Likes: 30
From: TN
^ That always happens when there is a hot new car, especially a fashion item like the SC430, everybody has to be first to get one. 3 years later the sales of that car went off a cliff. Once the supply issue worked itself out, the resale value went back to what is normally expected of a new car.
Lead Lap
Joined: Apr 2002
Posts: 4,892
Likes: 14
From: Virginia
The average new vehicle, in the U.S., in general, depreciates (roughly) 50% or so in the first three years of ownership....sometimes a little more, sometimes a little less. So, as I would see it (though I wouldn't call it an insane value) if you can get more than 50% after 3 years, you're doing well....or at least OK.
Lexus Fanatic
Joined: Oct 2003
Posts: 94,208
Likes: 220
From: Virginia/D.C. suburbs
This is a bit too simplistic of a view of depreciation. There is a HUGE range of 3 year depreciation rates across the industry. Ranging from something like the Toyota Tacoma at somewhere in the 60 to 70% range down to something like the Mitsubishi i-MiEV at below 20%. Even an "average" car like the Camry is roughly in the low to mid 40's. The F-150 nearly 60.
Last edited by mmarshall; Feb 1, 2017 at 04:01 PM.
Pole Position
Joined: Aug 2013
Posts: 2,634
Likes: 254
From: CA
To the OP:
The high cost of smart key replacement is NOT unique to MODERN DAYToyota/Lexus.
If you compare the cost of making a key in YOUR era, most of the auto makers are comparable in cost (the keys without chips).
Also back in YOUR era, it is very easy to hotwire a car/pickups due to the KEYS ATE NOT SMART!!! LOL😁😁😁
Also back in YOUR era the safety features in most modern cars now FAR SURPASS YOUR era. Especially in the small overlap frontal crashes. Also the automatic notification to emergency responders should you have a severe enough a crash that triggers the automatic notification system.
Simply put:. There is a price for all theses safety and convenience. I understand your wanting to keep it simple. But without innovations and progress, all systems will be at a standstill. I do not necessarily agree that all the auto makers are cramming all the latest whatever techs into their cars (some didn't finish full beta testing yet) and expect the customers to sort it out later and ultimately bear the costs.
The high cost of smart key replacement is NOT unique to MODERN DAYToyota/Lexus.
If you compare the cost of making a key in YOUR era, most of the auto makers are comparable in cost (the keys without chips).
Also back in YOUR era, it is very easy to hotwire a car/pickups due to the KEYS ATE NOT SMART!!! LOL😁😁😁
Also back in YOUR era the safety features in most modern cars now FAR SURPASS YOUR era. Especially in the small overlap frontal crashes. Also the automatic notification to emergency responders should you have a severe enough a crash that triggers the automatic notification system.
Simply put:. There is a price for all theses safety and convenience. I understand your wanting to keep it simple. But without innovations and progress, all systems will be at a standstill. I do not necessarily agree that all the auto makers are cramming all the latest whatever techs into their cars (some didn't finish full beta testing yet) and expect the customers to sort it out later and ultimately bear the costs.
Pole Position
Joined: Aug 2013
Posts: 2,634
Likes: 254
From: CA
Yes, I remembered those days. I wanted one too. But I didn't have the money back then. Lucky for me back then, I guess,😂😂😂😁😀
I'm going to take this another direction and go back to 2002 when the SC430 was first introduced. There were lines of loyal Lexus owners on waitlists with deposits clamoring for the new SC and not enough of them to go around. So, if a used or demoed SC430 was sitting on the lot the dealer was charging $1000's more than the cost of a new one because it was immediately available. Typically the car would have dropped in value by 10% or more just by driving it off the lot. Now that is insane resale value.
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