Help assigning value to "Overland" 2008 4-Runner

[outdoornate65]

I'm considering selling my 2008 Toyota 4-Runner and doing a van build.

When I plug my vehicle info into a website like KBB, I get what seems like to me a "lowball" estimate of it's value.

My T4R has 150K miles, a Old Man Emu lift, Front Runner roof rack, Fiamma F35 awning, ARB front bumper, TJM Winch, aftermarket wheels w/ Nitto Grapplers, and seat covers. It's in good shape with no accidents. Denver area.

My question is how do you guys assign value to these niche vehicles outfitted with "Overlanding" gear when compared to normal used cars?

Thanks for any advice,

Nate

 

[crazysccrmd]

Look around and see what the stock vehicle would sell for in your area. Maybe add 50% of the cost of your mods to the price and hope you find someone who wants a pre-modded vehicle.

 

[Ryanmb21]

I would estimate 15-20k, depending on condition and maintenance history and finding the right buyer.

4Runners are reliable and the new ones offer the same capability, so they seem to hold value pretty well.

Also, KBB is worthless.

 

[Dalko43]

I agree with crazy on the pricing: add the price of the base vehicle to 50% of the modification costs. That should give you a good ballpark estimate to start from.

150k is a lot, even for a 4runner. I could see a vehicle, modified as such, going for another 100k miles easily, but it will likely require maintenance and repairs throughout that 100k.

V6 or v8? The V8's usually fetch a little bit of a premium.

 

[Ryanmb21]

The 50% of mod cost thought bears no connection to reality of sale price. It’s just something people say.

Put a price on it that you’d be happy to get. If it doesn’t sell, lower it incrementally and periodically.

 

[Dalko43]

The 50% of mod cost thought bears no connection to reality of sale price. It’s just something people say.

Put a price on it that you’d be happy to get. If it doesn’t sell, lower it incrementally and periodically.

Well the OP certainly isn't going to get 100% of the value of those mods repaid to him, and neither should his vehicle sale reflect 0% of the costs for those mods.

50% is a good starting point; if he wants to set a higher asking price, that's fine too...the reality is if you paid $10k for mods, you're not going to get that full $10k back when you sell the vehicle, in most cases.

 

[outdoornate65]

OP here....

Thanks guys for the feedback. I'm not looking to get 100% of my money back from the mods....just listed the stuff I have done to my rig as an example.

Let's add another twist.....

Do "Dealers" consider the modifications a negative when considering the vehicle's trade-in value? (to be clear, I'm not planning to trade the truck, would sell it myself when the time comes)

Thanks again for the help,

Nate

 

[cmorrow]

OP here....

Thanks guys for the feedback. I'm not looking to get 100% of my money back from the mods....just listed the stuff I have done to my rig as an example.

Let's add another twist.....

Do "Dealers" consider the modifications a negative when considering the vehicle's trade-in value? (to be clear, I'm not planning to trade the truck, would sell it myself when the time comes)

Thanks again for the help,

Nate

I am sure there are some fair dealers out there, but in the little experience I have seen - a dealer will lowball you or at least give almost nothing extra with all of those ‘mods detracting from the stock vehicle value’ and then they’ll turn around and sell it with a huge premium and descriptions like “Look! Ready to go anywhere with a quality lift, bumper and winch!!!”

I truly hope your experience differs, but that is the unfortunate summation that I have seen in my area (PA).

 

[Clutch]

+1 for adding 50% of modifications' cost.

Mods are ver subjective, and getting 50% of the retail cost is about the best you can hope for. Some buyers will see the mods as added value, others will see the mods as harmful and will view a modded vehicle as being worth less than a stock one. You don't want to be in a rush to sell a modded vehicle - it'll take time to find the right buyer.

Count me in the crowd that is worth less than stock. Modded vehicles tend to be used a little harder than a stock, whole reason it is modded in the first place...so I steer clear of them. I try to find absolutely bone stock something that was owned by a grumpy OCD old man, with all the service records.

This whole "well, it is a Toyota" I take with a grain of salt. Seems like anymore because "well, it is a Toyota" people don't take care very good of them. Lots of roached out Yotas going for a premium out there...simply because "well, it is a Toyota!" Honestly... I have given up on finding a nice clean used low mile Toyota that the owner doesn't want an arm and leg for. It is like trying to find a Unicorn-Pegasus that lays golden eggs..

But people continue to keep on buying them for asinine prices because "well, it is a Toyota", so what do I know!?

 

[Adventurous]

OP here....

Thanks guys for the feedback. I'm not looking to get 100% of my money back from the mods....just listed the stuff I have done to my rig as an example.

Let's add another twist.....

Do "Dealers" consider the modifications a negative when considering the vehicle's trade-in value? (to be clear, I'm not planning to trade the truck, would sell it myself when the time comes)

Thanks again for the help,

Nate

Dealers don't place a premium on mods and it is often more beneficial to remove stuff from your truck, sell it separately, and trade in as close to an OEM truck as possible. When I was floating the idea of trading my Tacoma in for a Tundra the sales guy said they may not even consider taking it in trade, or, if they did, giving me nowhere near what I could get through a private sale. Return to stock would be the route I'd go if I chose to go through a dealer.

 

[Dances with Wolves]

Dealers base price on wholesale. That’s the real value of a vehicle anyway. Any price above that is BS worked into the deal. I don’t think any mods are considered a bonus to a dealer as it limits the vehicle’s appeal to the broader marketplace.

 

[Mr.Rick]

I've worked in the financial industry (auto finance) for about the last 10 years. I can tell you from a bank standpoint, the add-ons and extras mean bunk. I also live in the Colorado area and will say that some dealers will give you a little extra for the basics. Winch, bumper, etc. The "Overland" mods such as cargo and fridge and stuff are not going to do much for you. I know with such a specialized vehicle you would do better to sell private party. The 4Runners here in Northern Colorado definitely fetch a premium and would sell on the higher end of the spectrum. What I will tell you though is that you would almost be better off stripping the vehicle down and selling in stockish form or with the lift and bumpers. A bank, where majority of consumers go when purchasing a car, is not going to loan someone enough to cover the mods unless then are financing part and coming in with cash down. I know in the past I have had no problem selling a vehicle that is slightly modified, whereas if you have a purpose built rig it is going to cater to a much smaller demographic. But here in Colorado a 4th Gen will fetch a top end of the value book with 150k on the clock. Everything we see is coming in with 220k+ so that is a low mileage vehicle in my book.

 

[teotwaki]

I recently sold my 2005 4x4 SR5 4runner. It had 239,000 miles on the odo and you will find that high mileage is the biggest hit on resale value. There were zero mechanical issues but it did have some minor damage to paint and metal; otherwise it looked great . I too looked at KBB and then tried out CarMax and they echo KBB but will try to offer you 25% less. Dealers will offer even lower than CarMax. I figured if I went private party sale I was likely to get more than KBB.

I removed 99% of my mods, reinstalled OEM gear and thoroughly cleaned the 4R inside and out. Otherwise be prepared for people to call out problems and deduct from their offer. I looked at similar models in the local Craigslist listings and picked my "Asking" price but kept in mind my bottom line, about 25% over what CarMax offered. In your ad clearly state that if the ad is still up, the 4Runner is still for sale. That cuts down on a number of useless emails. Granted, you have to deal with lowballers and so on but it can be worth it. In my ad I instructed interested parties to supply their phone number or risk being ignored. This filters out most scammers, spammers and local used car dealers looking to score.

I think it took three weeks to sell it because I was in no rush to let anyone pressure me. Rather than update your ad just copy the contents, edit them and post a new ad every 4 to 5 days. That keeps your car near the top of the listings and also keeps interested parties from deciding you can be lowballed because your ad is "old". Try to look for a buyer who really wants your vehicle and be willing to negotiate. Have your maintenance log and receipts handy. Ultimately I got 50% more than what CarMax offered me.