How Much Is A 2018 Toyota Tacoma Worth? Here’s How To Find Out
Image by Nick Magwood from Pixabay
The Toyota Tacoma is like the punk band of pickup trucks, offering an edgier alternative to its more sophisticated midsize rivals. Also, the Tacoma offers plenty of off-road creds, as demonstrated by its numerous trail-ready models and optional off-road gear.
If you’re looking to trade in your used Toyota Tacoma, the best time might be now. How much is a 2018 Toyota Tacoma worth? How much does it compare with similar make and models in the market? Is now the best time to trade in your 2018 Toyota Tacoma?
For today’s post, we’ll discuss the trade-in value of the 2018 Toyota Tacoma, plus the factors that contribute to the current worth of this rugged pickup truck. Keep reading to learn more.
Is This the Right Time to Trade In Your 2018 Toyota Tacoma?
Unless you’ve been living off the grid for a while and unable to check your newsfeed, you’ll know car prices have skyrocketed. The COVID-19 pandemic, the supply shortage, and Russia’s invasion of Ukraine have formed a perfect storm that may permanently change the landscape of the car buying experience.
According to the Consumer Price Index Summary by the U.S. Bureau of Labor Statistics, consumers paid 12.2% for new vehicles in January compared to last year. However, that’s not even the worst part, especially when compared to used vehicle sales. Used car prices soared by 40.5% more in January than a year ago.
Furthermore, prominent car-shopping website Edmunds.com found that 8 out 10 car shoppers paid above sticker price in January 2022. Compare that to 2.8% in January 2021, and you have an idea of how bad things are for the average car buyer. This is clearly a case of low supply and high demand. This begs the question, will it get better?
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Is There Good News?
According to KBB, new car prices may slowly come down eventually. The KBB article states that car supply will gradually improve, but inventory will remain tight. While the costs will remain high for several months, the market is unlikely to experience record-high prices again.
The used car supply is also showing signs of recovery but is still limited compared to last year. Despite the inventory growth of used cars, prices may still increase because what’s being added are more expensive cars.
Trading In Your Toyota Tacoma Now
So many of you are probably asking: How much is a 2018 Toyota Tacoma worth? While it’s certainly not a buyer’s market right now, used car sellers can capitalize on the current trend. The same forces that work against buyers can help you if you’re selling your 2018 Toyota Tacoma.
With used vehicles having more worth than ever, there’s no better time to sell your 2018 Toyota Tacoma than now. With potential hundreds and thousands of profits from inflated used car prices, selling or trading in your pickup truck may easily help you get into a new car. It’s even better if you’re in a position where you can sell your vehicle without needing a replacement.
While it’s best to go for a private sale for your 2018 Tacoma, selling to a dealership is also viable. Dealerships are hurting for used cars to sell right now, so approaching them could earn you top dollar.
Factors That Affect Your 2018 Toyota Tacoma’s Trade-In Value
Here are a few primary factors that affect your vehicle’s trade-in value.
- Age - A vehicle may lose 20% or more of its value during the first year of ownership. About 60% or more of its original value will depreciate in five years. It’s all downhill from here unless your car is considered a classic or collectible.
- Mileage - Lower mileage can tip the favor for an older trade-in vehicle. Below average mileage can improve your Tacoma’s trade-in value. According to the U.S. Department of Transportation, 13,476 miles is the average driven by Americans per year.
- Condition - This applies to your trade-in vehicle’s interior and exterior. A few scratches, dings, and stains may not be a big deal for you, but it is for a professional appraiser.
- Maintenance history - Regular maintenance will improve reliability and keep the resale value of your vehicle up. Keep a complete record of your Tacoma maintenance history.
- Equipment - Higher trim models tend to have more trade-in value, but only because they have fancy add-ons that make them more appealing. Higher-end models generally have more standard features, in-car entertainment, safety tech, better engines, extra equipment, etc.
For example, a 2018 Toyota Tacoma SR valued at $30k-$32k will be much lower than a TRD Off Road model ($37k+) with similar mileage. The TRD Off Road has more features and extra equipment that make it a more capable off-roading vehicle – thus, it costs more than the SR trim, which is the base model.
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Your 2018 Toyota Tacoma Trade-In Value
Obviously, you came here to answer the question: How much is a 2018 Toyota Tacoma worth? There are numerous ways to get an estimate of your 2018 Tacoma’s trade-in value.
One of the most common ways to calculate a vehicle’s trade-in value is to use Edmunds.com Appraisal Tool. It offers a wide range of specs and features to ensure that you get an accurate appraisal of your used Tacoma pickup. According to the website, a used 2018 Toyota Tacoma has a value range of $22,107-$46,943, depending on the factors outlined above.
Another reliable tool to calculate how much is a 2018 Toyota Tacoma worth is Kelley Blue Book’s My Car’s Value Tool. For instance, looking up the value of the 2018 Toyota Tacoma Access Cab TRD Off-Road Pickup, you’ll get a trade-in value of $28,526 and potentially $31,015 for a private sale.
Last but not least, we highly recommend using CoPilot’s Hidden Profit Calculator tool. This handy tool lets you know if you can make a quick profit from your used or leased vehicle. If you lease the 2018 Tacoma, you may be able to pay off the lease and earn some profit on the side. Meanwhile, you could be in on thousands of dollars of profit if you own the vehicle.
The tool provides a Real-time Market Value Breakdown in your area, and then you can unlock the bids for customers who are looking for a used 2018 Toyota Tacoma. Unlocking the bids is as easy as signing up for a CoPilot account.
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