Value of 2021 1794 better than a 2024 1794?

These 2021 1794 Tundra's are holding their value like nothing else I've seen when they are in good condition with less than 45K miles on them. I believe the MSRP on these back in 2021 was around 53K or so depending on time of year and any options. Today they are 49 to 52K used with low miles. I think some are listing more than their original MSRP's and that's 3 years old now.

Gives me concern on what they are asking today for 2024. Did they really advance their overall truck quality and build a better truck for 20-30K more? Did the change create that much value add in 2022 - 2024. I am not seeing it reflected in the market. I think they are being really greedy with these 2024's and missing the sweet spot in price and pushing folks to look at used.

Anyone get a 2021 instead of a 2024 for similar concerns and research?

 

IMO it is not all "value". Some of the price increases on the new models are due to several factors such as inflation, scarcity and dealer markups. I don't have Tundra specific #s but pricing on Toyota products as a whole went up about ~23% on average so about a ~$12K increase.

 

I can logic that there are yearly cost increases. When factoring in depreciation on those that I am seeing, I still have concern though. I can see paying more due to increase in labor materials etc. I can see paying more for truly better product but not sure its as much as Toyota's margins are.

I am really torn in the decision. I would love the updates they have in 2024 but not the depreciation that comes with it at their asking price. I hope Toyota isn't going the way of BMW where the depreciation is ridiculous to make them a confident purchase.

 

https://pressroom.toyota.com/toyota...022-2023-toyota-tundra-and-lexus-lx-vehicles/

The Gen 3s are going through new model growing pains. The good news is these issues don't appear to be design related but rather supply chain and assembly procedure related. Bad press is enough to keep some buyers away from the used models. I think this accounts for the steeper depreciation you see in the used Gen 3 models market. Early Gen 2 models suffered the same dip compared to later Gen 2/2.5 models. Also some people in the truck market just prefer the Gen 2.5s with the last of the V8s and a simpler design.

 

I traded in a '23 1794 for a '24 1794 LE just a few weeks ago and received a nice amount for my one year old truck. I was actually surprised. With the tax savings figured in, they gave me around $60 to $61K for a truck I bought as year ago for $67k.

Maybe it depends on what area of the country you are in. Here in the south, trucks are a religion.

 

that’s not a great trade in, how many miles? My gen 2 trucks were depreciating about that much with 80-90k

 

I traded in my 2017 for a 2021 in 2021 to intentionally have the last model year. Ideally people should buy a duplicate and put into long term storage. Its like buying a 1967-71ish Corvette before the emissions regulations took place. Currently we're in the second Malaise era.

 

You are not wrong
I wish I could afford to snap up a low mileage '21 to throw in a garage for a bit

I drive a low mileage one but I also want one for down the road