Anyone else notice used vehicle prices finally coming down?

tlp1234

tlp1234

Moderator
Been in the market for a used Toyota 4Runner. 2010-2017 model. Seeing prices finally coming down in my state.

Been reparing my 2002 4Runner and nursing it along since new. Got 307,456 MI to date.

Since the life of the vehicle:

  • 3 timing belt/water pump changes
  • 5 sets of tires
  • catalytic converter replacement
  • upper and lower front end ball joint replacement
  • full set of struts replaced
  • 2 sets of drive shaft bearing replacements
  • 2 sets of spark plugs and wires replacements
  • three sets of front and rear brake pads and rotors replacements
  • 2 O2 sensor replacements
  • emmision system EVAP cannister and check valve replacement
  • Fuel pump replacement
  • 2 fuel tank cap replacements
  • Numerous lights & lamps replacements
  • Electric stowable radio antenna replacement
  • 3 windshield replacements
  • Numerous engine oil, air intake, transmission fluid, differential hypoid fluid and filters replacements
Having a love/hate relationship w/vehicles in general, I can't think of a worst investment since most immediately depreciate substantially after purchase and continue to for the life of the vehicle.

I must be in the super-minority of those that hang onto a vehicle for 20-plus years. I don't even remember my dad holding onto any vehicle that long. All my peers keep goading me "...........hey dumbass.....quit nursing that POS along and just buy a new one." But I've held onto this old turd so long, I'm attached to it. Almost feels like one of the family.

Any other used car/truck/SUV shoppers out there with something to share?
 
I nurse along all of my daily drivers until they drop, which is usually at 11 or 12 years.

Currently: 1997 Suburban coming up on 206k. Had it over 8 years.
Last year: 1986 Ford LTD. 122k on the body and tranny, 12k on a crate engine. Would still be driving it but lost it in a fire last summer.
2008: Sold a still running 1983 Olds Delta 88 with 200k, drove it 8 years.
2003: Sold a still running 1974 Camaro with 130k, drove it 11 years.

This just in: bought a 1991 Chrysler New Yorker from my 94 year old neighbor. 262k. Runs great, starts great, doesn't burn or leak hardly any oil. Still had all the original coolant hoses and fuel filter. Replacing those now along with water pump, plugs, and plug wires.
 
I bought a 2006 Buick Lucerne in 2018 for $5100 with 39k miles. I am up to 68k miles on it now, and I had a guy offer me 5k for it a couple weeks ago. It's in great shape, and I plan on driving it until it dies, I don't care if it looks like a grandpa car...it's comfy as hell, rides like a cloud, tons of leg room (I am 6'6) reliable and I have no car payment.
 
My distraction to holding on to these old vehicles is the diminishing amount of loss they can be insured for.

But then if you amortize cost of ownership by time and/or milage it doesn't look so bad. I suppose that mind game could be applied to anything. And then if you use it for business in the legally allowed/IRS sense for those allowed deductions, even less so.

I often wonder too how much better American made vehicles are today vs 40yrs ago when I bought my last new American vehicle. 1982 Chevy Silverado 5.0L. I must have got a lemon. It had numerous problems and only lasted 110,000 miles before I gave up on it and walked away from it.

The last 2 vehicles I bought new were 2002 4Runner and 1999 LS400. I still have both and just keep repairing them as they break.

The rare times I drive a vehicle made in the last couple of years, they feel alien. And they appear uber gadigity.....way more things to fail on them (electronics), and way more things not as easy to work on unless you're an auto techie trained, experienced, and tooled up on the latest.

You know you're getting old when you become one of the things you criticized in your youth.

I look at that luddite everyday now in the mirror.
 
tlp1234 said:
My distraction to holding on to these old vehicles is the diminishing amount of loss they can be insured for.

But then if you amortize cost of ownership by time and/or milage it doesn't look so bad. I suppose that mind game could be applied to anything. And then if you use it for business in the legally allowed/IRS sense for those allowed deductions, even less so.

I often wonder too how much better American made vehicles are today vs 40yrs ago when I bought my last new American vehicle. 1982 Chevy Silverado 5.0L. I must have got a lemon. It had numerous problems and only lasted 110,000 miles before I gave up on it and walked away from it.

The last 2 vehicles I bought new were 2002 4Runner and 1999 LS400. I still have both and just keep repairing them as they break.

The rare times I drive a vehicle made in the last couple of years, they feel alien. And they appear uber gadigity.....way more things to fail on them (electronics), and way more things not as easy to work on unless you're an auto techie trained, experienced, and tooled up on the latest.

You know you're getting old when you become one of the things you criticized in your youth.

I look at that luddite everyday now in the mirror.
Click to expand...
Let's put it this way. My dad worked for GM for 41 years and retired 2 years ago. When he retired..he decided to buy a new car for my mom. They bought a Nissan. He said he felt somewhat bad about it...but the warranty, and reliability...it wasn't a hard decision. He simply had no faith in the current Chevy product anymore, mainly because he saw the problems every single day. I did inventory for him for years and saw all of the parts firsthand. If you saw the timing chains they put on some of those models...they are thinner than bike chains and none of those parts are made in America. "Offshore"..the new PC term they use. My grandfather built the first Corvettes that came off the line here in St. Louis, he worked for GM for 37 years. He was proud to be a Chevy guy and was proud of the product. My other grandpa worked at the AB brewery for 39 years. He was proud of the product. They would both be so dissapointed in what has become of those two great American companies.
 
tlp1234 said:
My distraction to holding on to these old vehicles is the diminishing amount of loss they can be insured for.

But then if you amortize cost of ownership by time and/or milage it doesn't look so bad. I suppose that mind game could be applied to anything. And then if you use it for business in the legally allowed/IRS sense for those allowed deductions, even less so.

I often wonder too how much better American made vehicles are today vs 40yrs ago when I bought my last new American vehicle. 1982 Chevy Silverado 5.0L. I must have got a lemon. It had numerous problems and only lasted 110,000 miles before I gave up on it and walked away from it.

The last 2 vehicles I bought new were 2002 4Runner and 1999 LS400. I still have both and just keep repairing them as they break.

The rare times I drive a vehicle made in the last couple of years, they feel alien. And they appear uber gadigity.....way more things to fail on them (electronics), and way more things not as easy to work on unless you're an auto techie trained, experienced, and tooled up on the latest.

You know you're getting old when you become one of the things you criticized in your youth.

I look at that luddite everyday now in the mirror.
Click to expand...
Well said! My old lady has a 2018 Jeep Renegade. Damn thing baffles me with all the dash gadgets. How do I turn off the radio, turn up the heater blower fan and turn on the wipers? I mean I figured it out, but it would be nice to have a quick start guide for us old farts.
 
japetus said:
I bought a 2006 Buick Lucerne in 2018 for $5100 with 39k miles. I am up to 68k miles on it now, and I had a guy offer me 5k for it a couple weeks ago. It's in great shape, and I plan on driving it until it dies, I don't care if it looks like a grandpa car...it's comfy as hell, rides like a cloud, tons of leg room (I am 6'6) reliable and I have no car payment.
Click to expand...
Interesting, as there is a 2006 Buick LeSabre at a lot a few miles from my house. White, well over 100k, and they are asking around $5850 and it just sits there. Great looking car though.
 
japetus said:
Let's put it this way. My dad worked for GM for 41 years and retired 2 years ago. When he retired..he decided to buy a new car for my mom. They bought a Nissan. He said he felt somewhat bad about it...but the warranty, and reliability...it wasn't a hard decision. He simply had no faith in the current Chevy product anymore, mainly because he saw the problems every single day. I did inventory for him for years and saw all of the parts firsthand. If you saw the timing chains they put on some of those models...they are thinner than bike chains and none of those parts are made in America. "Offshore"..the new PC term they use. My grandfather built the first Corvettes that came off the line here in St. Louis, he worked for GM for 37 years. He was proud to be a Chevy guy and was proud of the product. My other grandpa worked at the AB brewery for 39 years. He was proud of the product. They would both be so dissapointed in what has become of those two great American companies.
Click to expand...
If I do in fact ever buy another new ride, it’ll definitely NOT be American “assembled”.

With decades of formerly US mfr’ing and intellectual property moved off shore, few things are completely, or at least mostly made in USA.

Especially anything electronic.

So many piece parts of components, sub assemblies that are the final product no longer made in USA.

One current downside of many being a debtor nation. And at the present we could not afford to make much of it here if we had too. But we may have to.

Just the semiconductor industry itself, a huge industry. All in the quest for cheap labor USA began to export its technical and financial independence offshore decades ago.

With the patients running the asylum it will only get worse.
 
Slightly off topic, my brothers 2001 Acura RL has more than 1.3 million miles. Its verified by the local dealer. I told him he should contact Acura and have them use it for commercials and to give him a new one. lol. He's in sales and drives non-stop.
 
psychodave said:
Slightly off topic, my brothers 2001 Acura RL has more than 1.3 million miles. Its verified by the local dealer. I told him he should contact Acura and have them use it for commercials and to give him a new one. lol. He's in sales and drives non-stop.
Click to expand...
How many engines and/or transmissions has it had during its time in service?
 
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