A tacoma is one of the few vehicles that don't depreciate. My 2017 Chevy colorado I just offloaded for 3k less than I paid essentially, that's crazy.
I wonder why their lease prices don’t reflect the low depreciation?
A quick look has the three year lease residual values on a Tacoma in the 75-80% range. That's higher than other trucks in its class (such as the Chevy Colorado at like 64%). With seemingly similar money factors and sticker prices, that will absolutely reflect in a monthly lease payment.
What percentage of your personal monthly budget gets spent buying a used car? That is, not in servicing loan payments, but actually buying cars. Inflation is weighted for this reason.
It’s probably the number 2 most expensive monthly payment the average person has beyond a mortgage. What’s your point?
The average family isn’t but a whole new (used, but new to them) car every month. The percentage of people actually buying cars right now is a small fraction of the population. For everyone else, the price they bought their car was set when they bought it, and inflation has no affect on their loan payments.
One of the other oddities of this market is that prices for "normal" cars have increased at a higher rate than prices for "upmarket" cars. There is now some pricing overlap that never used to be there.
$7,000 to put a new engine in a 2011 GMC Terrain that was worth maybe $8000. The engine was recalled by GM for excess oil consumption, my engine had the fixed installed and still died 30k miles later. I went with a new one because that particular vehicle ended up costing me more monthly than a car payment.
Stop buying shitty GM's. I learned my lesson back in in the late 90's when I couldn't keep a GMC Sonoma running long enough to sell it (was like 3 years old). In 2000 I became part of the Toyota family (worked for FORD at the time) and never bought anything else since. The 2 Toyota and 1 Lexus we own are between 14-11 years old and look and run like they came off the assembly line yesterday (all 3 were bought used).…
Lifetime TCO is a thing.
If you bought a Bubble Taurus in '99 and fed it a new transmission every 100k you'd probably come out the same after adjusting for inflation between then and now.
I deal exclusively in shitboxes that are about 10yr beyond what the demographics most represented. Anyone peddling a "just buy a particular brand and you'll be all set" narrative is just wrong. If you said "be rich enough to do maintenance on the book schedule and not abuse your vehicles" you'd be on to something. There's a reason everyone wants a used grandma car.
Worth to whom? Have you listed it for sale? The market for used Tacomas and 4Runners is off the hook.
Carvana. Do you think it'd be much different if I tried listing it on Craigslist?
I entertained the idea of selling my '16 Mazda6 during all this madness so I filled out the online appraisal forms for Carvana, CarMax and Vroom. CarMax's offer was the highest - more than I paid for the car in 2018. Carvana and Vroom's offers were a bit lower. If you get serious about selling, you should obviously get multiple offers.
Stop buying shitty GM's. I learned my lesson back in in the late 90's when I couldn't keep a GMC Sonoma running long enough to sell it (was like 3 years old). In 2000 I became part of the Toyota family (worked for FORD at the time) and never bought anything else since. The 2 Toyota and 1 Lexus we own are between 14-11 years old and look and run like they came off the assembly line yesterday (all 3 were bought used).…
Lifetime TCO is a thing. If you bought a Bubble Taurus in '99 and fed it a new transmission every 100k you'd probably come out the same after adjusting for inflation between then and now. I deal exclusively in shitboxes that are about 10yr beyond what the demographics most represented. Anyone peddling a "just buy a particular brand and you'll be all set" narrative is just wrong. If you said "be rich enough to do main…
That depends on how much you value your time. I have had Hondas for the past 25 years that have not required major repairs for anything. Worst was having to get the automatic transmission solenoid replaced on a Pilot with 240k+ miles on it. In your world that would be 6 transmissions over three cars over 25 years; there's no way I would make that trade, since those 6 transmission failures represent significant lost time (opportunity and time costs when the car breaks down, getting it back and forth to the repair shop, etc., etc.)