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Never seen it happen before

Discussion in 'Gearheads' started by BReeves, Apr 2, 2021.

  1. BReeves

    BReeves Sharpshooter

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    Ya in 71 I bought a Ford 3/4 ton Camper Special for $3000.00 out the door. Of course I was only making something like 15,000 a year at the time.
     
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  2. HoLeChit

    HoLeChit Semper Fidelis

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    Bought a 04.5 Cummins 4x4 with 170k a few years ago for $9500. Cleaned it up really nice, Drove it for 3 years, the front end needed rebuilt, I forgot to replace the front driveshaft and skid plate. Rear end was sloppy, transmission was getting eaten up by the tune, and I think it was needing an injector soon. Traded it in with 230k miles on it with the radio and amps pulled from the truck, driveshaft and skid plate still sitting in my garage for 10,900.
    Have a Silverado now, just paid it off. I’m saving and waiting for the day that I can trade it in for a newish Cummins again.
     
  3. Seadog

    Seadog Sharpshooter

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    Not a car but my old 1985 heavy half 4x4 GMC pickup was 20G when it was new.
     
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  4. Glocktogo

    Glocktogo Sharpshooter

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    I did really well once before. I bought a new 2001 Toyota Tundra TRD 4X2 for $21.7K. Two and a half years later I traded it in on a 2003 WRX. It had 32K on the odometer and needed new tires. Trade value was $18.5K, which I thought was pretty damn good.

    I think I just outdid that. I bought a gently used 2002 Toyota 4Runner SR5 with 8,200 on the odometer in late 2003. I think we paid $26K for it? 18 years later it had 101K on the odometer and was due a timing belt replacement. I listed it on Craigslist for $9,650. It sold for full asking price in 2 hours. That's about $2K ABOVE the highest listed KBB value for an excellent condition example. It also means a 37% residual value after 18 years of ownership, when most vehicles lose 50% in 5 years. I only lost 3.5% value per year on it over the 18 years I had it. :)

    The wild part was I wound up getting 29 inquiries on it from 4 different states. One guy from Colorado offered $1K above my asking price sight unseen, and he'd fly down the next day to get it, primarily because it didn't have any frame rust issues.

    Right now it is definitely a seller's market if you have anything decent for sale, especially a Toyota. :)
     
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  5. SlugSlinger

    SlugSlinger Sharpshooter

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    The value of the dollar is dropping like a rock. I read that February inflation rate was 2.6%, for 1 month. That’s been about the increase year over year for the past few years, the .gov claims anyway.

    Also read that 40% of the houses that have sold across the country have sold above the asking price. That’s insane!
     

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