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.
Wife’s mom that is in assisted living has a 2016 Hyundai Tucson suv she will never drive again as the state pulled her license. 40,000 miles.
I ran the VIN last night on a what’s my car worth app. The appraised price was $12,900.
Then I got a link from Carmax wanting to buy the vehicle for a little over 15K. Drive it in and get a check.
Had no idea the market was this crazy.
