Absurd values of 1st gens, has it always been this crazy?

Ok, I realize that me even posting this thread is testament to why these trucks are desirable, but I can't remember it being even remotely this bad in the last couple years.
I'll admit that I have not looked at a truck for sale in probably 6 years, since I don't have the money for one, And I know Tacoma's have always had a pretty high value, but it's comical what they are selling for now.

I posted a couple days ago about my neighbor looking for a specific truck, so I've been checking the classifieds and it's blowing my mind everyday. Trucks with 300,000 mi are selling for 10 to 15 grand....wtf is that? Anything for less than 10 grand is a massive pile of shit.

Unless I'm not remembering it correctly, wasn't it fairly easy to find a 1st Gen 4x4 in the neighborhood of 7 to 8,000 about 6 years ago? I feel like that was the average price for a decent truck.

I also realized that Toyota crushed a ton of the first gen's which made their value go up, And of course I know what the pandemic did to the used car market, and that the 4th gens are pretty much garbage which also made the value go up, but this just seems crazy.

I'll admit that I'm way behind the times, But how long has it actually been like this? Maybe my head has just been in the sand and they always sell for these ridiculous prices?

 

Yea man, 1st gen owners get flagged down in parking lots pretty much since the 2005 was introduced.

I know one guy that has had 10 offers simply over the span of owning the truck.

I had one boss pay 25,000$ for a 4 year old tacoma limited and I thought it was nuts in 2006.

What annoys me is the 3rd gen 4runner, which is similar, USED to be disproportionately cheap, but now have inflated like tacoma.

 

Your in the wrong part of the country

here in Oklahoma, Texas they have plenty come thru for less than 10K
and not rust buckets either....

Where you are from supply is way too low....and demand is way too high
just like those homes perched on the side of hills

Can you still get a lot of life out a 300K one......maybe you ought to ask 2023 tundra owner with his truck waiting on a new engine...
you know the one who's making payments on a busted tundra....and now has to use his old gen1 to get back and forth to work...

 

Prices will always be higher out west. CA, AZ, OR, WA ect.

 

Ones out West, North west....you've got to watch/look for rust...thats the biggest reason they're in such short supply


and if they don't want 20 or 30K for it.....usually means it needs a ton of parts
25 yrs and they didn't hardly do anything to it

 

As someone else said, location location location. Here in MA you'll pay mightily for these..if you can find one that is.

 

Until recent, Toyota trucks in general have been a 300k no issue vehicle. No overworked 4 cylinder turbo, no over complicated emmisions. Geneerally timing chains...

Brand loyalty means nothing anymore, try maintaining a new VW/Audi, BMW. Dont even mention the big 3.

IMO The early 2000's will be the height of the auto legacy. Finding a low mile Toyota in that range is golden.

 

Na, with the EV mandate gone I think there’s a chance to see a return to more basic new gas trucks and not just the tricked out over priced, option heavy, limited supply offerings now. Wishful thinking maybe but possible. The market is there. If and when that returns then the first gen values will drop.

 

i have read that in the north east even old tacos with patched frames (but relatively clean otherwise) are for sale for an eye-popper if you can find one

 

In my area 1st gens are everywhere. The unicorn is finding somebody who wants to sell one. You see 2x as many on nice weekends going to the grocery store. Due to the wealth tier of people who usually own Tacomas they get stuffed in the garage while their other dailey driver goes back and forth to the office. Minus trendy youth and work trucks. Your kidding yourself if you think prices are gonna go down.
Ask the little girl at the lemonade stand on the Toyota commercial "lemonade" "how's business", slam with the big Ole jar o cash. Ha ha

 

No one makes a compact 4WD pick-up and first gens and 2000s era Rangers are it. The latter is a Ford so there's that.

But OP is right, 150k truck can get close to MSRP if it nice. That said, every time someone posts a "looking at this truck, any thoughts?" type post, the forum excoriates the asking price... "walk away at that price" they always say. These prices are reality unless you want a ratbox CL truck with dog hair all over the ripped seats. That truck still posts up for $5k.

Covid free money added to the fun, but the prices didn't settle back much.

I bought my current daily in 2016 on west coast for $18k admittedly overpaid but I was tired of looking. Now 100k miles later I could still get close to that much.

First gen values won't drop IMO if a someone makes a smaller 4WD truck again. New vehicles are loaded with hack and track computer systems, annoying driver assist features that are now standard on everything and the base price is still double a very nice first gen. A lot of people don't want those systems and the demand for low-tech vehicles is increasing.

 

This area has a lot of Tacomas. All generations.
I'm out in a semi-rural area and there's even sort of a wave thing developing among the 1st Gens.
I do get asked to sell my '95 quite often. Almost always from a Latino. They know what's up with old Toyota trucks and know that they're not a low dollar item.

 

Best I could do in CA after 6+ months of hunting was $13.5k for a good condition ‘04 with 171k miles (Xtracab TRD 5speed). It stung a little after paying just $8.5k a few years ago for essentially the same thing.

 

I dropped $6900 on a 2004 Extended Cab 4x4 w/ differential locker, 171K in early 2017. After 2 years of driving it I figured I'd take it to my local Toyota dealer to for an oil change and look it over. I was taking care of the maintenance up to this point. They told me that the frame was shot...but under warranty. I had no idea there as ever an issue with them as I haven't owned a Toyota pick up since 2000 and that was a Pre-Tacoma model. I just always thought they were a sweet truck with a good name behind them so that's why I bought another. There was actually 2 months left on the warranty on mine....dumb luck, but very appreciative of that. Fast forward to now. I've replaced the rack and pinion and rear axel that was leaking everywhere, lower ball joints, new set of tires, exhaust work and brake work. I probably have $12K total into now but could get that today if I wanted. The best part about the truck is the CD/Tape combo. I'm from the 80's and I still have my tapes! I'll post a picture when I bring it out of hibernation.....I'm up here in Wisconsin. It's no longer my daily runner and I'm only taking it out when the weather is good. They'll never make a truck as good as this....216K miles and runs like a champ. Cheers!

 

It is true..and if you actually see one, good luck getting the person to even talk about parting with it. There are some that got reframed by Toyota BITD or people used the Saf-T-Cap or other methods as you touched on.

Only other one was the S10, and it's the same thing if you can find one that's still in one piece. Chevy wasn't a bad option then at least.

I paid about 17K for mine 3 yrs old with under 7K miles. I'd suspect I could get around 12-15 now even in this part of the country because of the reframe if I cared to think about it.

Agreed re the new tech stuff, regardless of one's opinion those things add to the cost of the vehicle new and therefore used.

Nice catch for sure and an honest dealer to boot! I chuckled at the radio as my wife's 2005 Rav had the same setup..and I still have tapes.

 

yeah agreed OP
i got 'gifted' my taco with a long list of maintenance parts to go thru (13months of wrenching)
tip top now(thanks to seasoned members here!)

big reason was gifted bc was for my 15yr kid's 1st vehicle

once i started looking up pricing.......taco is worth triple than my POS that i daily drive
(i routinely use that as leverage if kid misbehaves....."IM JUST GONNA TAKE YOUR TRUCK FOR MINE")

 

curiosity got to me
J.D. Power book values (formerly NADA)
Is this source gospel?
I entered actual mileage for my rig and it returned this...

 

Is your truck the actual 97 SR5? O
If so, that's the goat. And definitely seems to be accurate around here anyway

 

yes it is
with the MT
no sunroof though if that matters at all?
no diff lock either or supercharged
just yer basic black taco with the chromed mirrors lmao
chrome won't get ya home

 

I thought it had come down quite a bit in the past year or so. There is often a pretty stark difference between your high mileage run-of-the-mill craigslist truck and one in near showroom condition on bring-a-trailer. For me it would be worth the $10k+.

Also, rain with minimal snow on the west coast doesn't affect the frames. The mild weather makes the interiors, rubber and plastics last forever.