Recent market volatility is sending used car values all over the place. The Toyota Tacoma is no exception. Now, the used market absurdity has created a unique circumstance for owners. In some instances, used models are selling for more than new ones. Trucks like the Tacoma only add to that mix. The only thing that will be left at the end of time is the roaches and a few Toyota trucks. Well, that, and maybe the money you got out of selling yours at the largest market spike in recent memory.
Used Toyota Tacoma values are on the rise
The Tacoma is the sweetheart of the Toyota truck lineup. Personally, I’ve always favored the larger Toyota Tundra, but that’s only because I grew up with one. Both are steadfast, reliable, and practical. All great traits for a truck. However, the Tacoma, or “Taco” as they’re affectionately known, is just a little smaller, and more usable on a day-to-day basis. The Toyota Tacoma manages all this without sacrificing much in the practicality department either.
It’s for these reasons, plus the current market circumstance, that used Toyota Tacoma trucks are worth more than new ones. According to a series of studies by iSeeCars, the values of pickup trucks as a whole are up more than 25% as compared to last year, and they’re selling faster than ever. It’s a massive increase to be sure and means that buyers are willing to pay a premium for vehicles across the board. However, don’t go expecting your 2002 Taco to bring big bucks unless it’s got no miles on it. For now, this trend is limited to newer used models.
Selling now could net a nice profit
Now, those percentages and stats can be hard to conceptualize, so let’s break them down. First, that percentage change from last year we talked about. According to the study, a 25% increase in value on average equates to right around $7,383. “On average” is the operative term. The condition of your used Toyota Tacoma will always have a greater effect on its market value than anything else. Don’t expect some clapped-out ***box to sell for 80 g’s on Bring a Trailer.
There’s also a second component to the recent spike in Toyota Tacoma values. A second study by iSee Cars shows that new Tacomas are one of the fastest-selling new trucks on the market. This rabid demand for new models has seen used values spike as frustrated consumers are unable to get their hands on a new one. That combination of factors can and has led to sellers making off with quite a profit in recent months.
Can we expect these circumstances to last much longer?
This isn’t a trend that’s going away, either. It seems every day we hear of a new consumer product or industry hit by the after-effects of the COVID-19 pandemic, likely something we’ll be experiencing for years. If you have a decently clean Toyota Tacoma to sell, now is the time. Clean that thing up and get it listed as soon as you can. Close the tab, lock your phone, hop up off the toilet, whatever, just get out and sell that thing.