Best way to estimate Value of Gen 2 toyota

Anyone have some advice on how to estimate the value of my truck. I am essentially looking on craigs list/ auto/truck trader/ newspaper and making comparisons. Kelly Blue book IMO way undervalued the truck. Even if I use the local zip code, the excellent condition option, and sale to individual the value is way under what I would sell it for. I value my truck at least 20% to 30% over what they value. In fact if I could only get KBB value I would likely just keep the truck. Any advice on a quicker way to value the truck accurately?

 

I have a (2012) 2nd gen and when I was considering selling private party or trading...I found KBB (as well as Edmunds) to be fairly accurate when compared to comparable trucks for sale. Actually it's gone up in value over the past few months. Had time to kill so got a dealer to value the trade....waaaayyyyy lowballed it compared to KBB and Edmunds. Private party price is actually a little more than what I paid for the truck. 2012 DCSB 4.0, 30k miles,Dealer serviced w/records, auto, 4x4 ,tow pkg ,alloy, perfect paint/no rust, etc. Try a different region/zip code (maybe another state) just to see what value it gives you. Double check info you input as well. Easy to miss one or two things. These ARE estimates. Only worth what someone will pay you for it.

 

It depends on the market. If people really want your truck, they will pay for it. If the customer is smart enough, they will go by KBB and if you are asking too much, they know to just wait for the next opportunity to buy.

How many miles, what condition and how much would you want for your truck?

 

I think the best way to price your Tacoma is to look at existing ads on eBay, Craigslist, Autotrader, etc., and find a similar truck with similar miles and see how much they were asking for. On eBay you can even check the price that the trucks sold for. That may give you a good indicator on the value of your truck. For instance, I see several first gen Tacoma's on Craigslist right now. Years are ranging from 01-04 and miles are ranging from 137k-222k. All these trucks are priced at around 8400-9500. If I had a first gen Tacoma with 120k, id post it up for 10k and see if I get some hits. It all depends on what people are willing to pay.

 

thanks for the input... great points as always. For sure, it is worth what ever someone is willing to pay. But I also noticed that the trucks around this age were all priced more on craigslist, auto trader and car guru than they were on KBB. I did not check Edmunds yet. I think KBB at least undervalues these trucks due to demand, reputation, condition. That at least seems to be what the numbers show. Of course I am looking at the asking price on those sites not what someone actually paid... but the prices seem reasonable... and I also look at it as what would it cost me to replace my truck if I had to... what if my new Toy got in an accident, or I lost my job and needed to save money and sold the new one and bought something older... what would I want to pay and what would it be worth it to pay.

I'll keep getting data for awhile and I think I have an idea how much to ask. I will eventually come up with a number in my head that if I can not meet, I simply will not sell the truck at all. So it is worth it to me to have it over the money at some point... I just gotta figure out exactly where that point is... right now I have a pretty big range and I need to narrow it.

this truck is First owner, all original paperwork, religious oil changes, extended cab, 4x4, TRD, SR5, 6 foot bed, rhyno liner bed, year 2000, relatively low miles at 149,000, Snug Top High C cap with carpet in pretty good shape, elevated platform in bed, tires in great shape all weather michelins, Yakama rack, entire rig in good shape. I dont think I can let this truck go for under 10$k.

 

Remember that the add ons (post stock) aren't going to be reflected to any degree with KBB or Edmunds. The cap, platform,rack, etc. aren't figured in the valuation. 149k miles is a factor too (even if it is a Toyota). If it were me, and I could get 10k from a buyer for what you're describing...I'd cash the check before the ink could dry. Good luck.

 

I never pay more than what KBB values any vehicles at, it's a good starting point. KBB is usually generous with higher values then any appraisal or dealer offers.

However depending on what's done to the truck, some mods add value, some take away. Post it forsale for what your asking and go from there.

 

Our trucks are in demand. Set a minimum price that your willing to accept for the truck. If that's 10k list it for 14k. You may get someone that is looking for a truck like yours that has a max budget of 11k.

 

My advice, do NOT put your truck on craigslist at 7pm on a Friday night. My phone rang until 2 am. People from 6 states away will hound you, and most sound sketchy. 2 cents worth.

 

As I'm sure you know...trading in a 16 year old truck to a dealer will get you nothing. They can't make any money from it (financing, etc.).
Do a little research, be honest with the condition issues, and come to terms with what your truck is REALLY worth. Hope you get lucky with it.

Did you say why you want to sell? New truck? Need the cash?

 

Try NADA. Their prices seem to better reflect the value of Tacoma's.

 

I somewhat agree with the post saying KBB is accurate but just from what I have time and time again started to see from the numbers is that the older trucks may indeed be a bit undervalued from KBB. I see very close estimates on the newer trucks sale price versus the KBB price.... and the middle age (10 years) as well.. but as the truck gets older, as long as it is in good condition and has low miles and good maintenance, I see KBB tend to undervalue these. This is just what the numbers tend to show.
I dont think KBB can fully filter local value THAT well and local popularity either... they probably run the location through some sort of mean income / cost of living filter taken from dealer car sale price data. Regardless, from looking at prices, I have an idea what my truck is worth to within say$500. And if I cant get that the good news is that I get to keep it

 

For sure, good advice, I will do just that as well. Yes, the dealers dont want to deal with a truck that old for sure. I'll try to talk myself down a bit and see where the amount falls. If it does not sell I can lower the amount.

I had to get a four door truck now that we have kids... or I would just keep this truck for 300 miles. But I have to admit after driving the 2016 for a week, my god it is nice... why did I wait so long. The new ones are SWEEEEET. Sure, I need to sell it to help pay for the new one and I dont have room to keep it here. But If I dont sell it i have a great place I can keep it and they would drive it some as well.

 

yep, just deposited 10.1K$ cash for the blue toy in the picture. Could have gotten more but really didnt have time to weed through the interest. The value went way higher than KBB and Edmunds which is totally irrelevant around here for these trucks. The demand is high here and folks will pay more for a first owner, well maintained, with camper shell and rack, with bed kit, with clean interior. It even needed a front brake and timing belt job. The best way to value these is the national automotive dealer association web site. they list these for a couple grand over KBB. which is what folks are getting. I got about 500 more than NADA even. The best thing to do is look at the local demand, come up with an estimate, see what CL and ebay are offering/getting and put the price slightly higher than you would take. I listed this one for 11.5. I was willing to come down to 10.5 but then after a week I decided to come to 10. I got 10.1. I saw these listed anywhere from 5K salvaged to 15 k $ in mint condition.

anyway, learned a lot and put all this money towards my new one.

just an fyi. I paid about 24K$ cash for this new in 2000 including tax and registration. I sold it for 10.1k$ a few days ago. Drove it for 16 years. did the maint, replaced both O2 sensors, rebuilt the starter, a new battery, some odds and ends, oil changes myself, etc. All in all I only paid about $1k a year for this truck. that is pretty hard to beat. Did the same with the toy I had before that and plan to do the same with my 2016. which i love.

thanks all for the advice you gave here... it was excellent advice and it put money in my pocket.

enjoy all your Toys

 

I'd say local listings is the most accurate.

Not a Tacoma but when I sold my 98 cobra, KBB said excellent condition was $7,750... Pssh. Sn95 Cobras with similar miles were going for $8500-14,000 in my area. I listed at $10,500. Took about a month but ended up getting $10k and was very happy.

 

The KBB private seller price I found seems to be very close to what I am seeing for actual sale prices here. It's worth almost what I paid for it five years ago which is surprising.

 

yea, seems like the best approach is to do all three, KBB, Edmunds, NADA, the local listings, CL and ebay and come to an estimate. There are some cars that are accurate to KBB and some are not, you cant just blindly use one and expect best price or accuracy.

 

The market determines resale value, not KBB. Here in CO subarus and Tacomas go for WAY above KBB. I would be looking on Craigslist to see what Tacomas in your area sell for, and determine from there.

 

Asking prices are not necessarily representative of sale prices. But overall they should be reasonably close.