How much are you paying for your 2017 Tacoma?

I'm not intending to be rude when I say this: You not understanding my point doesn't make it illogical. It's okay if you don't get it, lots of people don't. That's why dealers have an easy time getting people to overpay for model year leftovers. Run the numbers on otherwise identical 2012 and 2013 Tacomas. MSRP difference was $500, yet KBB gives a $1500 lower trade-in value for the 2012 than the 2013.

KBB, Edmunds, etc. all are quite able to quantify depreciation. Whether the figures for current model year vehicles are available to us non-subscribing consumers is a different matter.

 

I'm also not trying to be rude either, so my apologies in advance. Let me explain the total loss process to you, so that you have a better idea of how little sense your first statement makes...because for all you know, I settle total losses for a living.
And let's not forget, your statement was about basing a discount on it being a total loss, NOT on trading it in.
Settlements are based on fair market value, of what comparable vehicles actually sell for in a particular geographical region. Not what edmunds, kbb, nada or any of your other vast resources are telling you.
1. The lack of any resale market because the vehicles being so sought after, and 2. It still being in the first model year is production would return a value at, or even possibly above what someone paid.
If anything the only dicernable difference in value from year to year would be the small hike in MSRP from 16 to 17.

Walking into a dealer and saying hey you have a brand new 16 on the lot, I want you to discount it 1500 because edmunds said that's how much it has depreciated is illogical, completely retarded, and holds no merit.


If you're still confused, I woukd be happy to go into more detail.

 

You're focusing on the short term valuation, which is understandable given that is the example I presented. I probably should have made it clearer that I was thinking more generally even with that near-term example. My error.

I'll accept that you're in the business and the sole difference in value between two model years is the MSRP difference between those years.

So here's the question I'm left with then: Does MSRP difference ever cease to be the only difference in valuation? If so, when does that happen?

With the various used cars I've insured over the years, never has any company asked about the original in-service date; are they picking that up from somewhere and are valuing the vehicles based on that instead of the model year? If I somehow found a leftover 2015 I could buy it and it would be valued at its full MSRP value?

 

If we are speaking to depreciation in regards of having a claim, the actual cash value is dictated by the resale market.
That's where vehicles like the Tacoma, FJ and 4Runner stand out. There is very little, if any actual depreciation.

Using the 2015 as an example, if you found one new and bought it, Because it was a new purchase, if you had a claim, it would be valued at MSRP for a time determined by terms of your policy. A rule of thumb is 3-6 months, however it differs by carrier. Some will carry it for a year.
At that point, the ACV would be determined by the resale market, which as you know is still currently comparable to MSRP.

 

Sorry bro but your #s are completely wrong. A 2012 is worth over $1k LESS than a 2013 simply by the model year?? I work in the business and here's the REAL #s:

2012 Dbl Cab SR5 V6, 45k miles
KBB Wholesale value: $25,044

2013 Dbl Cab SR5 V6, 45k miles
KBB Wholesale value: $25,354

There's a mere $350 difference between wholesale values, and there was a starting difference of $500 in MSRP. I can upload the booksheets if you really want....

In the real world there's probably still about a $500 difference in real tradein value between model years. If you bought a 2012 when the 2013s were already as long as you got at least a $500 extra discount you didn't lose any $....

 

Take it up with KBB. I used their trade-in values when I ran a quick estimate for discussion. (and save the lecture on KBB's free site accuracy or lack thereof, this was for illustrative purposes)

... and that was my original thought after all. Actual #'s would vary by my factors of course.

 

Ok I see what happened. When you don't give KBB specific information like miles its going to spit out for average miles of that year. We're trying to compare if someone bought a 2012 when the could've bought a 2013, the truck will have the same miles and one is not ACTUALLY a year old, just a model year. But when you run KBB it will give you a value of assumed mileage so in your #s KBB probably thought the 2012 had 12-15k MORE miles which accounts a lot more for the $1,500 difference you got.

But when all else is equal (miles, options, condition) the difference in value is only $350.

Just defending agains't the idea that "dealers use this to get people to overpay for older model years" because that idea is so common its frustrating. You have no idea how many people we get that are offering $3k-$4k below invoice on 2016 Tacomas right now and when we tell them "that's ridiculous we'd literally have to lose thousands of dollars to sell it to you for that" you know what they say? They call us liars because someone online told them KBB told them blah blah blah. So I just like to speak up and bring some facts when I can.

Not trying to insult you personally or anything just want accurate information out there because it comes back to us in the dealer world VERY fast.

 

I actually put 30,000 in for each. I don't live far from work so 10k/yr is typical for me. I also used the Atlanta area for localization.

2012 - $26,124 - http://www.kbb.com/toyota/tacoma-do...=30000&pricetype=trade-in&condition=very-good
2013 - $27,623 - http://www.kbb.com/toyota/tacoma-do...=30000&pricetype=trade-in&condition=very-good

I can only present what I saw KBB told me.

I see where you're coming from. This seems to be a case where there's a kernel of truth that gets blown way out of proportion. When I suggested a lower valuation of a prior model year I was thinking a relatively small amount, particularly on a high demand / low depreciation vehicle like a Tacoma. Certainly nothing like thousands of dollars, and the difference on the 2012/2013 was higher than I expected.

I'd also suggest that some domestic brand dealers inadvertently foster the perception. Every year I see clearance advertisements touting giant end of year savings. Granted, the observant and educated consumer knows that some brands seem to have sales with thousands off every day that ends in Y, but I'm sure you can agree that many consumers are neither observant nor educated.

I appreciate that. I'm not intending to create misinformation, so I do appreciate that we can seek clarity.

 

I see where you're coming from and in general yeah I think you're right. Sorry if I got a little defensive in regards to specifically the Toyota Tacoma

this is also why I get so frustrated with KBB. Its the gold standard for car valuation and what 95% of lenders use to valuate loan to value, so KBB is like God, but there's two sides to it. Karpower is the official KBB that I'm using, regular consumer side KBB SHOULD give close to the same info but as we see here it can be wildly different.

 

No worries, it's all good.

I too agree on the frustration that KBB's paid/commercial side gives different numbers than the free consumer side. I imagine that creates repeated conflict with shoppers who used KBB.com to estimate their car's trade value.

 

Exactly. My 2017 TRD OR Access Cab LB has a manual slider.

 

Nobody buying new tacomas? Lets don't let this thread go dormant. It is great and many of us prospective buyers are very interested in it. Please post your deals.

 

Reposting from the 2016+ thread:

2017 DCSB TRD OR 4x4 Automatic White

• Premium and Technology Package
  
  
• Tonneau Cover
  
  
• V6 Tow Package
  
  
• All-Weather Floor Liners/Door Sill
  
  
• Bed Mat
  
  
• Exhaust Tip
  
  
• Mudguards
  
  
• Wheel Locks

Sticker: 39,903
Paid: 37,000 + tax, title, fees

 

When you mention fees, were those dealer fees or state/government fees?

 

Dealer fees. 399 was tacked on. It was a bit higher than some others doing 199 or 299 fees, but this dealer was participating in the free lifetime and unlimited mileage powertrain warranty, had the exact configuration truck I wanted, and got me 500 under invoice with virtually no effort, so I wasn't going to argue it.

 

Cool. Seems like a solid deal.

I just asked for clarity since dealer fees can vary by hundreds of dollars in some states. Here, one dealer might offer "invoice + $500" and have no fees, another might offer "invoice + $0" and then rear end you with $900 in fees.

 

Yup, definitely something to ask about...and even though they will tell you it's not negotiable, as soon as you start to walk out the door all of a sudden it will become negotiable. They'll either further discount the price of the vehicle or the fees.

Again for reference, this dealer is giving the free lifetime and powertrain warranty included at 399...so if another dealer you're checking with tries to justify 500+ in fees with similar arguments, you'll know better.

 

I'm looking at a 2017 SR5 DCSB V6 2wd with Tow Pkg.
They said they'd throw in a Lifetime Powertrain Warranty.
$30,000 out the door.
I'm thinking I may bite...
Any thoughts?

 

Nowhere nearly enough info to advise you. Tax rates vary.

What's the invoice total using the invoice/options thread, including destination charge?
What's the total price including any dealer fees, but not including tax/title?
What is MSRP including dealer fees, but not including tax/title?

Lifetime powertrain warranties only have value if you'll use it. They seem to never be transferrable, so you need to keep the truck beyond the factory powertrain warranty period before it ever comes into play. Great for folks who keep their trucks for years, no value to those who trade in after three or four years unless they're driving a LOT of miles annually.

 

I calculated NC sales tax at $945
Their sales sheet breaks down like this:
Base - $29,690
Options - $849 (includes V6 tow pkg and clear paint protection-door pkg)
Delivery - $950
Total - $31,489
Tax, title, dealer fees are not listed

$30,000 out the door with Lifetime Powertrain. Yes I plan on keeping the truck for 7 or more years