Why have the cost of Tacomas skyrocketed lately?

Because Toyota builds a great truck and some people want them badly enough to pay five grand over sticker...

My base model 2010 RC 5-lug was a gift from my parents back in September 2009 when I finally got my learner's permit; I actually took the road test to get my license in this truck! I don't remember the exact sticker price, just that it was over $17K but less than $18K. My dad traded a 1996 Nissan Pathfinder with 113K for the Tacoma and got like $2,300 for it.

The final OTD price for my Tacoma was like $14,900 or something. My dad could have easily paid cash for the truck, but he has great credit and Citadel was offering 0.9% APR financing for new vehicles. He paid about $2,000 up front and financed the rest; I forget whether it was three years or five years, but the truck was paid off by the beginning of 2013.

My truck has a few fender benders on its Carfax report (most of which are not my fault), but it has never been totaled and thus has a clean title.

My truck is presently less than a thousand miles from hitting 200K, and even at nearly 15 years old with those miles, it is still worth about $8,000! I believe that I fixed some of the age-related cosmetic issues, I could get ten grand for it, but I'm not selling!

 

I definitely think that that will at least be a piece of the puzzle if a crash occurs in the next 4 to 5 yrs. Already seeing it in my slice of life, either that or people who cannot afford to buy a vehicle despite needing one desperately without getting raked.

I think it's dependent on the person. My nephew has a Tesla and loves it, he doesn't drive a lot and gets free charging at work. He did install a home charger but it was pretty cheap and he has solar panels as well. He's on the Cybertruck list still.

I don't drive much (10K or less a year now since I went full work from home) and would be foolish to part with my truck as my needs are still all met by it and it got reframed 3 yrs ago.

I paid about 17 for mine at 3 yrs old with under 7K miles (same truck as @PennSilverTaco even the colour), mine is at 140K now. I'm not moving it either, among other reasons I can't get a midsize truck single cab.

 

Honestly it’s a combination of things both political and social. Granted they go hand in hand but the uncertainties of the economy has most people not wanting to drop 65+K on an untested truck. That paired with the decreasing bang for the buck most companies are putting out. Even Toyota isn’t immune to the decrease in QC and gimmicky products. If not just look at the seats in the new Tacoma

 

Does that $17K include interest from the loan?

 

Bingo

 

First year is a real thing, I saw it firsthand with my parents buying the first year Ford Escort. Not that that vehicle was a sterling one in the first place of course but you get the point.

For me, if I had 65K in hand to spend right now, I'd pay off the rest of my mortgage instead.

No but off my skull it wasn't much, I got the 0.9 deal as well. Got 6.5 for my old truck so only financed 10.5

 

2004... $45,000
https://eastoregon.craigslist.org/ctd/d/la-grande-2004-toyota-tacoma-6-trd-off/7764263461.html

 

The biggest reasons are that Toyota makes a great truck, and even the shittiest examples command a premium. Other obvious reasons are inflation and supply chain issues.

Yet another big reason is that affluent people with more dollars than sense are willing to pay thousands of dollars over sticker for a truck that will never be used as a truck or taken off-road. This keeps us working class folks, who could actually use an affordable and reliable pickup truck, out of Tacomas.

On another note, I wouldn’t take anything less than ten grand for my truck if I had to sell it…

 

Lots of reasons, all of em bummers.

also, EV’s are pretty great for some use cases, but American-market automakers won’t offer what people actually want: cheap, small, high range vehicles that don’t start in the $40-50k range

 

Inflation but Toyota also knows the following and reputation they have. The price hike with scare some away but overall they’ll be just fine.

 

"Nice things cost money"

 

This is mostly all true. People with more money than you have always been like that.I have gone to auctions to see some people spend more money on classic cars than what the average person would think is way too much..I could never spend that much. I certainly wouldn’t think that they were born with rich parents (maybe some were) but in my case I went to trade school went out and got a great job having to work 7 days a week at times..I did that for 43 years and retired 4 years ago. I made good money and always had fairly nice toys. Now with a great pension and with the stock market being good to me I can go to the dealer and buy my TH for 65k..when we all come back here in 15 years that same truck will be 90 k and some will still complain. If some people can afford something more power to them if not you’ll just have to settle for a used one.. I had used vehicles for most of my life but I would like a new one for a change…of course this is just my opinion for the truck market we are in..

 

Dam right

 

A big part of that is making an objective decision with everything in life in mind of what one can afford.

When I was trying to buy a house my father told me "don't look at the number the bank will approve you for. Mess with a mortgage calculator, interest rates, etc..and decide what you can afford to pay each month PLUS having something each moth for repairs (planned or otherwise), PLUS your vehicle/food/clothes etc, PLUS something to save". I didn't always heed his lessons on money but I did that time and and forever thankful.

Auctions especially can be funny, so many get caught up in the process. I went to many auctions and once found a 10 yr old Chevy Citation. Not much but basic get around, and it wasn't known if these vehicles started/ran/drove/anything. I figured if I could grab it for $200 or less it was worth it as a buy/flip/parts car worst case. Two people kept in it after the bidding thinned out and ran the price to just over $700. At that price you could have bought that same car private party but you'd know at least some of the stuff about it. These people knew nothing about that car.

 

True..when I moved out when I was 19 I was looking at apartments to live in.. he said no way you should go looking at apartments buy a house he said. Never thought I could afford one till I started looking..found a nice house near town for the same monthly payments that I was going to spend on a apartment..never wasted one dime on renting..your dad Was smart like mine

 

And nice thing cost even more money when they won't stop printing it

 

I moved out a little later than 19 into an apartment, that was moving in with my girlfriend who already had the place. We bought the house 18 months later though.

Definitely, houses aren't for everyone but long haul it's an investment. Plus nowadays stability in renting isn't there like it once was, at least in my little slice of the world.

 

Yep bought my 2017 Tacoma and now its worth more used that it was new. lol. BTW. I live in Hawaii so that probably accounts for that

 

My wife sent me this last night. I literally said WTF.

https://classics.autotrader.com/classic-cars/1987/toyota/pickup/102079424

 

Also:

1. Guy buys Tacoma
2. Tacoma ends up being reliable
3. 15 years goes by without needing to buy another vehicle
4. Time to get new vehicle..maybe another Tacoma; Guy goes to dealership and is surprised everything is more expensive now

Unless you work in auto sales or deal with auto prices on a regular basis, you simply aren't going to keep mental track of the constant changes in the market.

In about 6 months, it will be 10 years since I bought my Tacoma which I paid ~$34K for brand new from the dealership. I'm certain that if I went back to that same dealership trying to buy a similar truck I'll be shocked that it probably costs around $44K now. (and yes I know we are all debating whether inflation resulted in the same truck package costing $10K more over 10 years)