Trade-In Values

[WookieBait]

Cash. Are you in CO? I have it listed for $68.9k and have had a lot of interest from private parties. If you don't want to leave money on the table, I would suggest the private party route first.

Yeah CO, mine is just a premium, not first edition. I also have scratched up mirrors and pin striping from offroading, a few deeper scratches, from rocks etc. ended up giving it to autonation for $63,600. Glad to be done with it, I thought about private party but didn't want to deal with a lot of tire kickers due to the pin striping and off-road use it's endured.

Good luck with the sale. No more overheating transmission for me lol.

 

[Esquire]

Yeah CO, mine is just a premium, not first edition. I also have scratched up mirrors and pin striping from offroading, a few deeper scratches, from rocks etc. ended up giving it to autonation for $63,600. Glad to be done with it, I thought about private party but didn't want to deal with a lot of tire kickers due to the pin striping and off-road use it's endured.

Good luck with the sale. No more overheating transmission for me lol.

It sounds like you did very well at $63,600 with it being in pretty rough shape. I'd hate to see what you would get out of a 2024 Range Rover that was put through the off-roading ringer. I bet you'd lose 50% in two years.

 

[cmarshall1008]

My '24 LCLC in Mass with 30k miles shows trade in value at $55k. Is KBB being very conservative? Or does my location having a major impact on value?

 

[chrisw2069]

I was offered $62k with 14k miles and was going to trade in for a 2026 Honda Passport Elite HPD for $54k… no sales tax… but I choose to keep my LC! I just could part with it!!!!

 

[Esquire]

My '24 LCLC in Mass with 30k miles shows trade in value at $55k. Is KBB being very conservative? Or does my location having a major impact on value?

That's a pretty conservative value. However, 30k miles on a 2024 is quite a few. I'm still under 6k miles on my '24.

 

[Esquire]

I was offered $62k and was going to trade in for a 2026 Honda Passport Elite HPD for $54k… no sales tax… but I choose to keep my LC! I just could part with it!!!!

After owning one and being extremely impressed and satisfied with it, I can't see myself not owning a Land Cruiser. I'll eventually trade it in for another new one, however, I won't not have one around the stall.

 

[psycheout]

Your issue is that you have FE. Premium / luxury models ALWAYS depreciate faster than base models. According to KBB, my 2024 LC 1958 with 20k miles has a trade-in value of $57k, basically the same amount I paid new. My local dealer offered me $58k to trade it in for a 2026 model. A 2024 LC FE trade-in value is $61k, only $4k more for a vehicle than was $17k (!!!) more expensive when new.
Buying top trim (or luxury) vehicle is a sure way to lose money on depreciation. Few people are willing to pay more for fancy-schmanzy stuff when buying a used vehicle. I have owned over 30 vehicles in my life, so I have a bit experience with trading cars. If you want to minimize your losses, buy the base model of a "superior" vehicle instead of the top trim of a "lesser" model. For example, few years ago you could buy a RAV4 Limited for a similar price as a Highlander LE. RAV4 Limited trade-in value has plummeted compared to the trade-in value for a base trim Highlander.

View attachment 66461

Unless you bought your FE used like me and didn't pay the premium buying new. First owner paid $78K, I paid no where near that.

 

[jed clampett]

I just priced my FE with 10k miles at Carvana....$62,200

 

[Esquire]

I just priced my FE with 10k miles at Carvana....$62,200

That seems low for an FE w/10k miles. Try Carmax.

 

[LC250CO14]

Appreciate all of the responses. I guess this brings up another question for those looking to trade for other vehicles. What are you looking to move to and why?

I'm looking at an X5 M, yes a completely different class of vehicle. My dream SUV is a Mercedes G63, but that's a little out of my budget right now, although it is the ultimate SUV that can tackle most everything. The X5 M was second on my list in the dream SUV category and the current generation ends production this Summer. After looking at what's coming for the next gen X5, I am not at all impressed with the styling. I also figure, worse case scenario, I can always just buy another LC since it seems like they will probably only get better over time. My current LC has never seen anything other than pavement and off roading was never really in my plans. It is nice to know it is capable of that though. My only concern right now with the X5 is winter driving. It seems like tire swaps might be a common this in the Fall and Spring.

 

[WookieBait]

I bought a 100 series land cruiser to replace mine. I wanted a tried and true platform. Not super comparable for a true daily driver comparing safety features and gas mileage but for my use case I think I'm going to be happy with my choice.

 

[Bucky Badger]

Your issue is that you have FE. Premium / luxury models ALWAYS depreciate faster than base models. According to KBB, my 2024 LC 1958 with 20k miles has a trade-in value of $57k, basically the same amount I paid new. My local dealer offered me $58k to trade it in for a 2026 model. A 2024 LC FE trade-in value is $61k, only $4k more for a vehicle than was $17k (!!!) more expensive when new.
Buying top trim (or luxury) vehicle is a sure way to lose money on depreciation. Few people are willing to pay more for fancy-schmanzy stuff when buying a used vehicle. I have owned over 30 vehicles in my life, so I have a bit experience with trading cars. If you want to minimize your losses, buy the base model of a "superior" vehicle instead of the top trim of a "lesser" model. For example, few years ago you could buy a RAV4 Limited for a similar price as a Highlander LE. RAV4 Limited trade-in value has plummeted compared to the trade-in value for a base trim Highlander.

View attachment 66461
View attachment 66460

True but I want the extras!

 

[Bucky Badger]

I was offered $62k with 14k miles and was going to trade in for a 2026 Honda Passport Elite HPD for $54k… no sales tax… but I choose to keep my LC! I just could part with it!!!!

GOOD MOVE!

 

[RideWithYanu]

True but I want the extras!

Exactly. I never purchase a vehicle based on what I could theoretically resell it for. I buy the vehicle and features I want, knowing that vehicles aren’t investments and will depreciate.

 

[wpage]

Prefer the convenience of trading into the dealer, for whatever brand. As long as the price is right. Toyota reliability as past precedence demands good trade values...

 

[MSINAL]

Appreciate all of the responses. I guess this brings up another question for those looking to trade for other vehicles. What are you looking to move to and why?

I'm looking at an X5 M, yes a completely different class of vehicle. My dream SUV is a Mercedes G63, but that's a little out of my budget right now, although it is the ultimate SUV that can tackle most everything. The X5 M was second on my list in the dream SUV category and the current generation ends production this Summer. After looking at what's coming for the next gen X5, I am not at all impressed with the styling. I also figure, worse case scenario, I can always just buy another LC since it seems like they will probably only get better over time. My current LC has never seen anything other than pavement and off roading was never really in my plans. It is nice to know it is capable of that though. My only concern right now with the X5 is winter driving. It seems like tire swaps might be a common this in the Fall and Spring.

Just be aware you can no longer afford to hit a pothole or poorly maintained rail road tracks. mwheels and tires cost a fortune. Ask me how i know.

 

[justindory]

Cash. Are you in CO? I have it listed for $68.9k and have had a lot of interest from private parties. If you don't want to leave money on the table, I would suggest the private party route first.

Did you end up selling yours? How much did you get if I may ask?

 

[Esquire]

Exactly. I never purchase a vehicle based on what I could theoretically resell it for. I buy the vehicle and features I want, knowing that vehicles aren’t investments and will depreciate.

I respectfully disagree. I consider how well a vehicle holds its value as one of the most important factors.

Buying a vehicle (vehicles) that depreciate(s) rapidly is akin to writing a large check every month and working against your overall financial position.

As Warren Buffet says...."Keep an eye on the pennies and the dollars will take care of themselves."

 

[chrisw2069]

I used to sell via private party but there are so many fraud schemes out there. When I have sold private party, we meet at my bank and I see funds (cash or VERIFIED CASHIERS CHECK with issuing bank) and it goes directly to loan and once funds are cleared and loan paid off bank sends me title (or to them) usually about a week…. If they don’t like that I don’t sell to them.
Now buying from private party is a whole bowl of potential fraud and theft!!!! Duplicate titles, liens, counterfeit titles, the list goes on not to mention no recourse of vehicle issues after the sell!

I got burned bad once with car back in 1993 (1984 Nissan 300 ZX) I bought from a private part. The drove fine and ended up with $4k transmission issues within a week! Nothing I could do but repair car at my own expense. After it was repaired, I sold it to a college girl and I later found out from my mechanic that originally repaired transmission said the buyer I sold it to had transmission issues again! Lemon car I guess.

Fast forward to 2011, I bought a 2008 Audi TT (cheap) due to high miles for a run around car…. The transmission went out on highway and I called dealership, they towed vehicle to their shop and fix it for free. My point is if you have a trusted (that’s the key) dealership you have more recourse if there are problems. You may end up spending more buying and getting less on trade or sale but you USUALLY have less issues…

 

[Sugarloafer80]

It sounds like you did very well at $63,600 with it being in pretty rough shape. I'd hate to see what you would get out of a 2024 Range Rover that was put through the off-roading ringer. I bet you'd lose 50% in two years.

Doubtful esp if a defender. They are in serious demand.