I would say this is a pretty fair price, maybe not an amazing deal but reasonable. Really about where these should be $35-40K depending on how clean.
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For Sale Most recent 200 Series purchase prices
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Get the popcorn out to see where this one goes: 2010 Toyota Land Cruiser URJ200 - https://bringatrailer.com/listing/2010-toyota-land-cruiser-2/
2010, 145K miles, some corrosion/rust and maybe even cigarette smoke? Guessing this will not hit reserve as seller is optimistic. However, BaT is weird and maybe someone really wants one of these. Remember 5% buyers premium on top of it. Should be sub $30K in my book, maybe even closer to $25K if it really reeks of smoke. Guessing seller looking for $35k.
2010, 145K miles, some corrosion/rust and maybe even cigarette smoke? Guessing this will not hit reserve as seller is optimistic. However, BaT is weird and maybe someone really wants one of these. Remember 5% buyers premium on top of it. Should be sub $30K in my book, maybe even closer to $25K if it really reeks of smoke. Guessing seller looking for $35k.
At a Nissan dealership, is this Armada guy's trade in? Haha.just came on, no undercarriage pics but price looks decent. 2018 88k miles, $55k
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This wont end well. Higher inventory and higher cost to hold that inventory.
Trade Winds Are Shifting in the Auto Business - Cox Automotive Inc. - https://www.coxautoinc.com/market-insights/trade-winds-are-shifting-in-the-auto-business/
Trade Winds Are Shifting in the Auto Business - Cox Automotive Inc. - https://www.coxautoinc.com/market-insights/trade-winds-are-shifting-in-the-auto-business/
I picked this one up last night. It was sitting on the lot because it has a rebuilt title due to a collision five years ago. I checked all the points that were indicated as rebuilt and the salesperson was cool and let me tear it up a bit in a nearby lot to make sure the frame didn't do anything scary. Everything felt great and I was driving it off the lot barely two hours after I drove on.
Super stoked! It was serviced recently, and I see a few new hoses under the hood. I've never owned a LC/LX and I live to wrench on my own vehicles, so please hit me with recommendations to dig into for preventative maintenance and things a novice may have missed on the test drive and inspection.
Super stoked! It was serviced recently, and I see a few new hoses under the hood. I've never owned a LC/LX and I live to wrench on my own vehicles, so please hit me with recommendations to dig into for preventative maintenance and things a novice may have missed on the test drive and inspection.
That LXs story is crazy. Looks like it got issued a junk title and somehow got rebuilt in CA. Ballsy buying it from a FL BHPH, I hope you negotiated way down.
Yeah, would be interested to know what you paid if you don't mind sharing. Personally I'd want a huge discount for the risks involved.
Was putting gas in my (2) tanks 2-3 months ago, 2021 LC , otherwise mostly stock (removed third row). Guy came up to me and started visiting, walked around the truck and casually asked me the mileage, ~12,000. He offered to write me a check for $100K for it on the spot. I said no thanks, keeping it another 20+ years.
He then says snarkily "I guess you don't want to know what I would really pay for it." Suggested he foad and drove off.
He then says snarkily "I guess you don't want to know what I would really pay for it." Suggested he foad and drove off.
Anyone can type nonsense on the Internet....and there is a lot of non sense out there.
People were hoarding tulips at one time as well.
Car prices will continue to fall
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It will certainly have some impact on new vehicles which almost all are floor planned and dealers (not Toyota or Honda) are starting to turn down slow moving (many are EVs) units on allocation. The impact on used inventory will be limited due to the fact most franchised dealers do not floor plan Used Units, this is where they tuck most of their cash.
Unfortunately, the bigger impact high interest rates have on used vehicles are the lack of ability to trade for vehicles due to the current purchase being a much higher rate/payment than the one they currently own. That combined with the fact there were far fewer 20/21/22/23 models and many of those that were sold will not be in an positive equity situation to trade is not going to help the supply side.
Higher interest rates will and has slowed inflation in the automotive industry, but because there are still plenty of supply challenges to offset the lower demand it isn’t going to be a quick crash, just a proper right sizing of used values which had to occur at some point.
All being said, all these things will not have a tremendous future impact on the low volume end of the era 200 series, the fat has already been trimmed which brings the market to about where it is today and close to where it should have been. Just your typical historical depreciation rate from here forward, which is somewhat more on Land Cruisers compared to 4Runners and Tacomas. Cruisers were never a vehicle you can buy and drive (really low mileage will be a somewhat exception) for free for a year or three, other than during the Covid/Penultimate Bubble.
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The first thing we did when I got to the lot was crawl underneath with a flashlight and put my hands on anything I could reach. Some spots of surface rust but nothing scary that most 10 year old vehicles won't have, and I can clean most of it off easy enough.
I'm no licensed mechanic but a lifelong hobbyist with a wrench, and given the frame looked great I had no real fear. That is also why I got the guys to let me whip it around on the test drive. I got out the door after taxes and all for about the same price they're asking there. I got them down a few thousand.
I got some decent maintenance records with it and the only thing it looks to be missing is an AHC fluid job, so that is on order now.
The second owner drove it around 20,000 miles on the rebuilt title themselves, and while we can make assumptions every which way about why they got out of it, after the test drive beat down and the miles I have put on it since, I am feeling confident in the truck.
Similar to the housing market, automakers will buy down and make new models slightly more affordable. Used cars will depreciate either fast or slow determined by the macro in 24/25. I believe there was minimal fat trimming in LCs. Toyota had 18-20k LC 2016+. Any LC HE 20/21 with sub 5-10k miles will likely command a premium, while those with 15k+ miles will correct further then depreciate. People may claim they'll keep a car for 20 years, but two decades is a significant period, and life changes during that time.
Something to note on BaT: since last month, some of these LCs aren't changing hands even when marked as sold. This is when we saw interest rates advancing. I'm waiting for the Carfax of these to update. The 1-3 month mark is usually the cutoff when temporary registration expires, and the legality of registering a vehicle comes into play. I will update those when they do.
LC VIN# JTMCY7AJ8M4105406 (see attached) sold, the lien was paid, but then there's no further information. It could be sitting in a warehouse with a new owner, the same owner who still possesses it, or it may have been shipped overseas. It probably would have been serviced by now and if anyone has more info, that would be greatly appreciated.
Whether we agree or disagree, it doesn't matter; everything is just opinions. As far as my views, during this economic cycle, individuals may wonder why they've lost their jobs, yet the economy is firing on all eight cylinders. Additionally, the government manipulates inflation calculations to fit a particular narrative. Hedonic adjustment is a mockery, given its highly subjective nature, much like PCE. The media also follows and promotes the same narrative. For example, market is assigning a 10% chance of a 25 basis points rate cut in January 2024. Not going to happen unless something breaks bad. Unfortunately, we are not at a restrictive level when it comes to interest rates; we are barely at the long-run average. I'm in the camp that believes the long end of the yield curve will continue to advance. Life is becoming more expensive, and people may run out of money if they haven't already. Look at revolving credit. The future is uncertain, but with the government's substantial spending, we may be entering a new regime that diverges from the previous 40 years (excluding the three-year shift already in progress). The worst case is decades long grind.
Well everyone is standing on pricing right now, one the units I’m trying to buy. Even if sitting for 3 months on the lot
While I enjoy speculation as much as the next person, there’s a myriad of reasons as to why the Carfax trail would go cold post auction. It could have been purchased by someone with a dealer’s license or a slew of other reasons. I would wager the two largest reasons that suggests the transaction was consummated would be that the winner bidder has racked up 5 additional wins in the months since that 200 series auction. No one gets to be that type of deadbeat bidder and stick around BaT. Second, the truck wasn’t re-listed. While obviously at the discretion of the seller, I don’t think most would hesitate to re-list that truck given the flurry of activity it saw at the end of the auction. I hesitate to even mention re-list since the underbidder would have also been offered the opportunity to buy. Nevermind the lien likely wouldn’t have been paid if the seller didn’t receive funds for the truck. But in general, that truck seems to fit the motif of that particular buyer, especially one where the Carfax might not show anything for some time. If ever.
For sure, I was thinking about the dealer as well when I mentioned it's sitting somewhere with a new owner. My brother sold an SUV 1.5 years ago to a guy who ships them out of the country. He didn’t drive it; he just bought it within 20 minutes and had someone drive it to the truck for shipping. He had around 10-20 that day and worked like a clock.
Just keeping an eye out for trends on these LCs so I can snag one at the right time.
For sure. And some states make it incredibly easy to obtain a dealer’s license. It essentially can be used a loophole in certain places to avoid taxes and insurance on individual vehicles. I once showed up in FL to buy a BMW that has been “owned” by the seller for over two years… except he had a dealer’s license and had been holding the car on an open title. He drove the car over 10k miles, merely slapping his dealer plate on the back when he wanted to drive it. Not to say he was following the law to a T, but for someone with a small, rotating car collection, oversight is likely to be minimal, especially if the cars are being sold out of state.