What is going on with used Tacoma Prices?

I paid $32,300 for my 2017 TRD Off Road, certified used right back at the beginning of COVID. It was a touch more than others but it was certified and had extra features most didn't. But, that was just at the beginning of the sales boom. Now there are so many dealerships begging for trade-ins just so they have something to sell.

 

Just got on the carvarna bandwagon recently with my 2019 TRD offroad. 3 different dealerships met the carvarna offer as well and not playing the trick where they apply rebates and stuff to my "trade in" and keep their truck at sticker (which I thought was amazing). Once I finally traded my truck in, I went back a couple days later and the truck is listed over original sticker which was still in the glovebox.

 

Yeah Carvana has a hard on for 3rd gens because new owners want to buy semi-new and contactless from a vending machine.

 

Building a new house would be crazy expensive too as supplies are outrageous right now. There has been some kind of nationwide lumber shortage, I paid freakin $8 and $11 last night for a treated 2x4 and 2x6.

 

That poor Taco probably looks a lot like this truck! Yep... high class all the way!

 

Inflation.. supply and demand ..

 

This is unusual. Usually, when I buy something the prices crash on that product immediately after.

Remember the ‘97 Asian economic meltdown? That was my bad. I upgraded my computer.

 

Just wait till the other shoe drops for buyers jumping in with these insane prices.

Upside down loans will be everywhere

 

I know someone that bought a house in the 2006 peak in Sacramento for $340k in 2010 it was worth barely $150k. They finally sold it last year for $325k. The house was right on the edge of a rough area. She would have been better off renting. Sometimes people get it right and sometimes they don't

 

Carvana has my truck for sale...Excellent resale They paid me $36K

https://www.carvana.com/vehicle/1517556

 

Don't post that the Carvana bulls will claim it's a loss leader to drive foot traffic.

 

I think Carvana is trying to rip you off. The '05 below has 10K miles less than yours, yet look at the price!

 

It also say AT but shows a manual... Weird. It was just an automated evaluation though, I didn't talk to someone

 

I think Carvana is specializing more on the newer (last 5 year) style cars.
The margins they can make is higher on the higher priced vehicles and they are more likely to make $$$ on the financing which is really the biggest area of opportunity.

 

Two weeks ago I sold my 2017 for $500 less than I paid for it in April of 2018. I bought it from CarMax, sold it to a dealership in west Texas.
it’s not just Tacoma’s though. Get ready to overpay for anything you look to buy too.

 

Selling a house and buying one at the same time might be wise.
It depends if you are buying and selling at similar price points or not


Say 10 years ago when everything was crap, someone bought a 2000 sq ft house for $200k.
At the same time there may have been a 4,000 sq ft house for sale for $400k.

With the housing market heating up, that 2,000 sq ft house today might be worth $350k due to the demand of people looking for houses that size, under a $400k price range.

Meanwhile, in the last 10 years, those 4,000 sq ft houses didn't increase in value as much yet. Millennials might not be buying $400k houses and retirees or Gen X'ers who owned the $400k houses are beginning to sell so there is amply $400k houses available. With the decrease demand at $400k, that previously valued $400k house might only be getting $450k now because of supply and demand.

But in 10 years, when millenials have equity in their 2,000 sq ft homes, (plus two kids and a need for a larger backyard) they might be ready to upgrade to the 4,000 sq ft house.
If much of that generation at that point is doing it those 4,000 sq ft houses will increase in value probably from $450k to maybe $800k over the next 10 years.

Your buddy, if upgrading sizes of his house, might see terrific games in the 2nd-level house market which hasn't rebounded as much as the 1st level housing market has which is pretty hot right now.

Same can be said for third-level houses around a million. Those have not gone up in value over the last 10 years. There is probably an opportunity there to buy as well and be looking really good in 10 years.

 

they offered me 37.5k for my 2020 Trd Offroad loaded 4x4
Same deal with my brothers 2019 Frontier pro-4x 6 speed manual. He bought it for 30k out the door (including taxes) and they’re offering roughly 30k to buy it. Go figure.

 

Dealerships are happy to take your money if your willing to pay those asking prices. Apparently there must be a lot of people out there with more money than brains.

 

They must have strong weed in Ohio.