2020-2021 HE Used Market - Insane Prices

[tonyholland00]

Hello I own a 2020 HE Midnight black with 17k miles on it now. Just looking around at the used market and the insane prices being "asked". Is anyone actually buying at this price? I would be willing to part with my 2020 HE but again only at these insane prices 115k etc. Just curious if anyone has a better pulse on what is really going on other than some people asking an astronomical price and just hoping.

Thanks!

 

[hendooman]

I think the FOMO of the last years and the HE is raising rates. I bought a 2019 with 10K miles for 79K in August. Probably paid too much but again there are not any out there with that kind of miles readily available.

 

[hankinid]

Hello I own a 2020 HE Midnight black with 17k miles on it now. Just looking around at the used market and the insane prices being "asked". Is anyone actually buying at this price? I would be willing to part with my 2020 HE but again only at these insane prices 115k etc. Just curious if anyone has a better pulse on what is really going on other than some people asking an astronomical price and just hoping.

Thanks!

Imo it's no more V8's.

 

[Big Timber]

I think the FOMO of the last years and the HE is raising rates. I bought a 2019 with 10K miles for 79K in August. Probably paid too much but again there are not any out there with that kind of miles readily available.

Wait until gas prices go higher. It may not affect the HE prices much, but I guarantee you'll start seeing a few base models show up for sale cheaper than they are now.

 

[hendooman]

Probably right...gas is getting a little out of control.

 

[Tex68w]

I think these crazy prices will hold until the market itself starts to crash. IMHO it's a combo of people wanting what they can't have being that it's an outgoing generation, the lack of a next generation replacement (at least stateside), it's the last of the V8's and then of course the overall madness created by the covid nonsense. I was offered over $90K for my base model and I still passed, there's no way I am going to take a small profit over having to find another with these inflated prices.

 

[04UZJ100]

Probably right...gas is getting a little out of control.

Drill baby drill!

 

[CharlieS]

I'll play: I'm hoping a bunch of people that really don't know land cruisers "just had to have them" since they are not going to be sold here anymore, or think of them as an investment, (with little regard for the reasons a lot of enthusiasts buy them), rushed to dealerships and spiked demand, driving prices up on an already scarce vehicle (in an already overheated truck/suv market where prices are insane to begin with). I'm hoping that like a lot of things right now, it will eventually self correct, and many of these people will dump them, flooding the market with used units and driving prices into a more rational place. Based on some of the questions that have popped up on this board recently, I think it is already starting.

 

[goodnightnyc]

What do you guys think about this deal? I found a ‘21 HE with 8k miles. It’s a dealer demo that the GM was driving. I negotiated the price to $94.5K but told them I need some time to think it over.

We already have a ‘21 HE but thinking about buying another to add to the fleet. Should I pull the trigger on this? It’s a lot of money but seems like a decent deal in today’s market.

 

[HSTexan]

I would probably say it's a decent deal in todays market, but only you can decide if it's worth it or not. I have never been one who can stomach the idea of paying markups on pretty much anything, let alone something that (typically) depreciates as fast as a car. If I had to have it I'd be willing to pay MSRP and not a cent higher, but realistically for 8K miles I'd rather just wait for a year or two until the market settles

 

[Avalon911]

I would probably say it's a decent deal in todays market, but only you can decide if it's worth it or not. I have never been one who can stomach the idea of paying markups on pretty much anything, let alone something that (typically) depreciates as fast as a car. If I had to have it I'd be willing to pay MSRP and not a cent higher, but realistically for 8K miles I'd rather just wait for a year or two until the market settles

Hello I own a 2020 HE Midnight black with 17k miles on it now. Just looking around at the used market and the insane prices being "asked". Is anyone actually buying at this price? I would be willing to part with my 2020 HE but again only at these insane prices 115k etc. Just curious if anyone has a better pulse on what is really going on other than some people asking an astronomical price and just hoping.

Thanks!

I don’t believe these vehicles are selling for the crazy prices we are seeing people ask ($120k+).

 

[goodnightnyc]

Yeah I also have a hard time stomaching a markup on anything. In hindsight I should have bought two LC’s earlier this year when I purchased mine. But given the LC 200 won’t be produced again, I’m sort of rationalizing paying a markup now. Still not sure if I’ll go through with the deal.

I’ve also been cross shopping the 4R TRD Pro and the markups on those are absolutely insane. Between $5-20K. No way I could justify that since after all it’s still only a 4R.

 

[Tex68w]

I'd pay the markup on the HE 200 before a TRD Pro 4Runner lol.

 

[goodnightnyc]

I'd pay the markup on the HE 200 before a TRD Pro 4Runner lol.

Exactly, I agree.

Any thoughts on this vehicle being a dealer demo with 8K miles? Visually it seems to be in excellent condition. Took it for a short test drive and everything seemed to function fine.

I’d never really consider buying a demo except in this case, since I can’t buy a new HE 200 anymore.

 

[Tex68w]

Dealer demo should be sold with full warranty to start at the mileage you purchase it at, i.e. the 3/36 should run to 44K miles. I wouldn't hesitate to buy a demo if the price is right and you know they are well taken care of properly maintained.

 

[goodnightnyc]

Dealer demo should be sold with full warranty to start at the mileage you purchase it at, i.e. the 3/36 should run to 44K miles. I wouldn't hesitate to buy a demo if the price is right and you know they are well taken care of properly maintained.

Unfortunately I think the warranty started when the vehicle was placed in service, which was April 2021. So basically I’d be losing 8k miles and 7 months of warranty.

I guess the price is right for this market? But it’s still over MSRP, just not as much as other comparable HE’s.

 

[Tex68w]

Unfortunately I think the warranty started when the vehicle was placed in service, which was April 2021. So basically I’d be losing 8k miles and 7 months of warranty.

I guess the price is right for this market? But it’s still over MSRP, just not as much as other comparable HE’s.

If it was never titled then it'll start at the mileage you purchase it at but if they did title and plate it then it'll be less those miles and time.

 

[goodnightnyc]

If it was never titled then it'll start at the mileage you purchase it at but if they did title and plate it then it'll be less those miles and time.

Interesting. The dealer said it was never titled and only had dealer plates. I guess I could call Toyota with the VIN and find out the warranty coverage.

Edit - just checked on the official Toyota website. Here’s the language:

The factory coverage warranty period begins on the vehicle’s in-service date, which is the first date the vehicle is either delivered to the original purchaser, lessor, or used as a company car or demonstration vehicle.

 

[Gr8Daneger]

I paid over MSRP for my 21 HE with 2000 miles on it, and I have no regrets. I also bought the 10yr 100k miles factory warranty, because I have no intentions on selling.

I’ve wanted an LC200 for a long time, and finding out to late that they were being discontinued in the US I was unable to find a new one for MSRP. Most of the dealers I contacted told me the owners were demoing the last ones they got. I almost gave up until I stumbled upon mine. I also know these won’t depreciate nearly as fast as other full size SUV’s in this class.

 

[Tex68w]

Interesting. The dealer said it was never titled and only had dealer plates. I guess I could call Toyota with the VIN and find out the warranty coverage.

Edit - just checked on the official Toyota website. Here’s the language:

The factory coverage warranty period begins on the vehicle’s in-service date, which is the first date the vehicle is either delivered to the original purchaser, lessor, or used as a company car or demonstration vehicle.

Interesting, because we've bought Toyota Executive vehicles in the past and that's how it worked. I guess they are different than a dealer demo.