Is This A Good Deal?

I found a 2022 SR5 Premium 4WD that I really like. At a Toyota dealer. It is "Certified". 31,XXX miles on the odometer. White w/black interior. Nice running boards on it. NO third row seat, NO moon roof.

I drove it, inspected underneath.

The vehicle was previously a rental unit. Cosmetically, I found 3 small dents in the driver's door, which I would get fixed.

Toyota dealer is asking $37,900. I offered 34K, before tax, title, etc. (No trade in involved)

After some negotiating back and forth, their final(?) offer came to $35,900.00, so $1,900.00 over the price I was willing to pay. I thanked them for their time, and walked out.

What's everyone's thoughts on it having been a rental? Good thing or a bad thing? I had previously thought I would never buy a rental, but this vehicle was very nice, and clean as a whistle underneath. (I was looking for rust underneath, but it was good.)

What do you think of them coming down from 37,900 to 35,900? It just doesn't seem like enough to me. A two year old vehicle, ex rental unit. It's been on their lot for a month. You'd think they would be wanting to move it. My thoughts are that the economy is not all that great, these vehicles should be dropping in price substantially. What happens if this country gets in to a war? I fear that these high vehicle prices will then really take a sh_t, especially if gas prices go stupid again.

I'd like to have a 4Runner, but these prices for a used one just seem to be too high.

 

Agree still seems high, plus the rental thing...

 

Rentals (if operated by one of the major rental companies - ie Hertz, Avis, Budget, Enterprise, etc.) will normally have all factory maintenance done on the correct schedules, have been kept clean (after being returned) and generally be in pretty good shape. The problem with a rental is it's impossible to know if the Runner was operated improperly or in a way that might compromise it. That limitation of info exists in any pre-owned car you buy from a dealer. Private purchases from original-owner individuals can provide that intel (assuming they're honest...). Hey, the good news with this one is that - at 31k - you do have 5k-ish miles of bumper-to-bumper warranty left and 29k-ish of power train warranty left. It's entirely possible that the Runner you're looking at was a lease-return (ie program car). At 2 years of life and 30k miles, it may have been on a 2-year 15k miles/year lease. Lease owners tend to take pretty good care of their vehicles knowing that they'll be thoroughly inspected at the end-of-lease point.

I'd recommend (and I'm sure our colleagues here on the 4Runners group would agree) that you will want to have a thorough pre-purchase inspection performed by a shop and tech you know and trust. Red flags on a 30k 2-year-old Runner would be things like front brake pads that are almost worn-out, etc. A 2-year-old Runner shouldn't have a bit of rust even if it was operated in a snow ski area... So, finding future rust areas may be tough on a Runner that young. A thorough pre-purchase will run you about $300 and will give you peace mind. Again, highly recommended and worth the money it costs.

The price doesn't scare me. If you can be out the door at $35.9k that's not terrible. Every deal is subjective. Depends on location, the vehicle, the financial situation of the seller and you. At the end of the day, you being happy with spending a large pile of cash (or credit) is all that matters. We're a pretty diverse group of owners here on this group and we all have options, but one thing we will all agree on is that you need to be completely happy with the deal and the vehicle. If you're not - or something about it is in question in your mind - walk away.

Before you pull the trigger - if you do, I do need to point out that Runners are becoming way-more available new and you're not far away from being into a new one at around $40k. The days having to pay MSRP+ are over. If you are at at a dealer who tells you otherwise, leave and find another dealer. You may have to drive to find the vehicle you want, but you can buy a new Runner at under MSRP now if you look around. I'm sure you've already weighed the difference in new vs. used, but I just want to mention it here. Nothing compares to owning it from zero miles and if you're worried about a vehicle's history/use/abuse by its first owner, that would no longer be a concern. Might be worth the small difference. If you are as meticulous as it seems from your original post, my hunch is that you'll happier with new.

 

$35.9k for a certified '22 ORP seems very fair to me. The no moon roof or 3rd row seating are selling points in my book. If the vehicle checked out, I'd have no problem getting a rental. My wife has had a previously rented vehicle for 3 trouble-free years.

I don't think you'd find a new ORP under $45k any more.

 

I would never buy a rental. Buying a rental is like marrying a former hooker.

Everyone probably drove it like they stole it and never took care of it.

 

Certified comes with the 7 year/100K powertrain warranty, right?
Even with that I would probably balk.

 

I probably got ripped off on mine, but I was desperate for a vehicle. I paid $44k for CPO 2018 in May. It had 50k miles. I’ve been putting high mileage on it (1k per month), including mountain driving. Despite being a previous rental, it’s been very reliable, even in cold weather and snow.

 

IMO, the decision is first about whether you want this one, and then about whether you want to wait and search for a nearly identical one for maybe $2000 less. I don’t think the price is bad, but I would only discuss out-the-door pricing.

 

DO NOT BUY RENTALS! My best friend works for enterprise & if he won’t buy their former rentals, you shouldn’t either. One lady, while pumping gas, here in Colorado commented she will never drive a 4Runner again. I asked why? She said she back her 4Runner rental into a mining shaft while driving in the high country…

FYI - it’s a Toyota 4Runner. Certified doesn’t mean that much with this much reliability. You’ll need it though if your buying a rental truck. I’d look else where

Also, pricing is dropping. I know because the 4/5 limited 4Runners I liked on CarGurus has reported price decreases. So be patience. I waited a whole year till I found the perfect taco & did the same for my 4Runner

 

Too much. I am seeing plenty of similar mileage in the 33-34K range, certified, and are not former rentals. Walk away. There will be more.

 

I lucked out with my new '23 ORP then. Out the door at just a little over $46k and it has KDSS and the moon roof options.

This is why I prefer to buy new though. Even with preowned you never know the history of it or if it was taken care of, and a rental for sure would be questionable.

 

The phrase "Don't be gentle, it's a rental" was not coined for no reason.

 

To me, 31XXX miles on a less than two year old 4R is a bit high mileage. I'll bet you find a better deal in a couple months. But I have noticed even with the current price drops, the TRD/OR's tend to bring a premium price in the used markets.

 

Lol didn't the 2022 sr5 start at like 38k new

 

That applies to all things rented..

 

This.

My daddy once told me "Borracho (yes, he called me that!), if it flies, floats or fucks......you RENT it."

 

I run a car rental company and my main advice is that if it is a previous rental vehicle l, have it checked out thoroughly. If it is Certified that is a great first step big it was part of that dealer’s loaner department, ask them to show you maintenance records. If the dealer bought it from the auction and it was a rental company turn in, let your mechanic check it over. Regular maintenance for a rental company is usually oil changes, brakes, tires, wipers, and filters. Nothing else unless it breaks. It would cost a fortune for large fleets to keep up a rental like you do your personal. And because they are driven by so many people who all drive differently, wear and tear is completely different then one owner type vehicles. I would recommend an extended warranty but only if the dealer will sell it to you at cost. Now as for the price, the market is flooded with cars right now and dealers are sitting tons of vehicles on their floor plan. They are selling new under msrp now and very often willing to deal on their used cars. I don’t know book value off hand, but I wouldn’t pay much more then that. Dealers generally like to make about $2k-$3k per used unit. I am also affiliated with a group of auto dealers so I speak with first hand knowledge. I hope this information helps. Good luck to you in your quest!!

 

Just like my friends told me when I was with my ex-wife "you can do better"
I would find a 4Runner that was not a former rental; I bet you can get it the same price or less even.

 

I remember trying to use a ball joint press tool that I rented/borrowed from the local part store. It was so beat up and abused I went out and bought my own.

 

My 4runner doesn't do any of those things...

 

i have a 2021 SR5 Premium with 3rd row seats and moon roof.. mileage at 29,200 so far I drove it to san diego, huntington beach, anaheim, palm springs, l.a., reno, tahoe somerset, and numerous trips to sac and santa cruz.. otherwise i would be way lower in mileage..

just for kicks i went to carmax to see how much they would offer and they quoted me $38,000..

hope this helps your decision making.. i just don't like the rental aspect of yours.. scares me..