Quote:
Originally Posted by JasonCSU
One of the things I love about my 2017 Tacoma is how well Toyota trucks hold their value. I keep track of the annual depreciation of my vehicles in my financial software, and was recently looking at the values for my Tacoma according to KBB. I was expecting to see minor depreciation, but instead was surprised to see values appreciate to a range with a high end slightly above what I paid for the truck.
I'm guessing in addition to the increased demand for used vehicles, the appreciating values are possibly also due to rising costs of new vehicles. For example, an equivalent 2021 model of my truck now costs about $4k more than what mine listed for.
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I'm thinking a lot of it is this part, yeah. The cost of new vehicles is just insane these days and they do not reflect the inflation/salary increases of the average person. I think people are just tired of it and they realize if they can find a 1 year old, almost new car, they can save on 20% of the depreciation immediately.
That's what I've been doing with my last few cars too. I bought my '18 at 11 months old and saved 30% of the sticker price.