The last few months have seen a significant rise in used truck prices. And few, if any, models are immune to the value jump. The Toyota Tundra is not one of them. Hence why many used Tundra owners are gearing up to sell their trucks. But if you’re looking to buy rather than sell, what kind of price should you expect to pay?
Used Toyota Tundra prices are rising
As noted above, used Toyota Tundras are just one of many used trucks experiencing a price increase. And while all used vehicle types have gotten more expensive, price hikes have hit pickup trucks the hardest, The Drive notes. All of this is due to a combination of factors.
Firstly, there’s a general dearth of new pickup trucks due to the ongoing microchip shortage affecting production. And the 2021 Toyota Tundra is one of several models impacted by the shortage. With no brand-new pickups available at dealers, buyers turn to the used market, increasing demand and therefore prices.
Secondly, the Tundra has a reputation for reliability, a desirable trait for any vehicle, especially a truck. And that reputation partly comes from its longevity. The Toyota Tundra’s 2022-model-year redesign is the first one since the current-gen truck debuted in 2014. On the downside, it means the 2020 and 2021 Tundras are rather long in the tooth. But it also means most of their glitches have been ironed out. Also, since the truck didn’t change significantly since 2014, used examples look relatively modern.
Speaking of reliability, rumors suggest the 2022 Toyota Tundra is ditching its 5.7-liter V8 and going V6-only. Although Toyota executives promise the truck’s new powertrain outperforms the outgoing one, it’s nevertheless something novel. And introductions aren’t always smooth, as that 5.7-liter V8 exemplifies. Months after its 2007 introduction, several owners experienced camshaft failure, CarBuyingAndSelling.com reports.
While that issue has long since been rectified, situations like this often make customers nervous over first-year models. So, they stick with the proven previous-gen version and thus drive up prices.
Newer, low-mileage examples can get fairly pricey
It’s true that used Toyota Tundras have gotten more expensive. According to iSeeCars, prices are up by 26% year-to-year, compared to the average used car’s 16.8% increase. For a Tundra, that works out to an average increase of $8,356.
However, that doesn’t mean all used Tundras are priced out of reach. There are plenty of first-gen models available for under $10,000. To be fair, these Tundras typically have well over 100,000 miles on their odometers. But again, that’s why these trucks hold their value so well: their reliability. Plus, they’re the only Tundras available with manuals, MotorTrend notes.
Broadly speaking, first-gen Tundras tend to be the most affordable models. Kelley Blue Book considers $10,000-$20,000 to be a good price for a sub-100,000-mile 2000-2006 Tundra. Prices for 4WD and/or V8-equipped models tend to be on the higher end of that range.
If you’re looking for a second-gen 2007-2013 used Toyota Tundra, be prepared to pay more. A good price for a sub-100,000-mile example on KBB ranges from $20,000-$40,000. Again, trucks with V8s and/or 4WD are more expensive.
As the current-gen 2014-2021 Toyota Tundra is the newest, it’s also the priciest. Sub-100,000-mile lower-trim SR and SR5 models cost anywhere from $26,000-$60,000 on KBB depending on the mileage. Meanwhile, Limited and Platinum models range from $32,000-$65,000. And TRD Pro Tundras are the most expensive, ranging from $40,000-$70,000.
It’s worth noting, though, that these high prices might not last much longer. The used market may have already reached its peak, Autoblog muses, so used Tundras could become more affordable. But if you want or need one right now, this is how much you’ll likely have to pay.
What is the best year for a used Toyota Tundra?
The purchase price isn’t the only cost to consider when looking at a used Toyota Tundra, though. Although these trucks have a reputation for reliability, some model years were more problematic than others.
Consumer Reports, for example, doesn’t recommend the 2002, 2007, 2009, or 2021 Tundra. 2000-2003 Tundras are also known to suffer from rusting frame cross members, The Drive points out, though there was a recall to address this. CarComplaints, in addition to recommending avoiding the 2007 Tundra, also found significant issues with the 2005 and 2012 models. The latter is noted as one of the worst years for a Toyota Tundra.
Based on this, the best years for a used Toyota Tundra are 2004, 2006, 2010-2011, and 2014-2020. That last group is the most expensive, but also the most modern. Those models also have higher payload and towing capacities. But if you’re looking to save some cash, picking from one of the other three Tundra model-year groups is the way to go.
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