Hertz is selling used 2024 Toyota 4Runners at prices that often exceed those of new models, making it a puzzling proposition for buyers. While it's true that rental vehicles sometimes carry a stigma due to their usage, Hertz' pricing seems to contradict that notion. In this article, we delve into the specific pricing discrepancies and examine why buying a new 4Runner directly from Toyota might be a more sensible choice.
Toyota just launched a brand new 4Runner, but Hertz has a selection from last year now up for sale. The rental giant might struggle to move these SUVs, as their prices often exceed those of new 4Runners. In fact, they're sometimes more expensive than the vehicle would've been when brand-new itself. Rental vehicles are often maligned on the used-car market for being ridden hard and put up wet, so to speak.
While that’s certainly not true of every rental, it's a genuine concern for buyers, one that can be enough to steer them away. Hertz's pricing seems to suggest that it believes its rental cars are actually worth more after time in service. It has a large batch—149, to be precise, at the time of publishing—of previous-generation 2024 Toyota 4Runners up for sale, many with surprisingly low mileage, and the prices are very strange. Take for example this 4Runner SR5 with 20,177 miles on the odometer for sale from Hertz in Baltimore, Maryland. While SR5 is the base trim of the 4Runner, this at least has 4WD as an additional option. Beyond that though, there isn't much to get excited about, and even less so when you see the price tag. Hertz's No Haggle Price is $47,488. For the record, the lowest-mileage 4Runner SR5 models—of which there seem to be a few with under 10,000 miles—hover around the $45,000 mark. That might not sound too high considering that the new-generation 4Runner that we recently reviewed has multiple trims priced at $66,900 before dealer markups, but let us give you some perspective here. The base 4Runner SR5 4X4 from 2024 had an MSRP of $42,705 when it was brand-spanking-new. That's not all though, there's more. A very quick search online garners several examples of the 4Runner with similar mileage and identical features for thousands less. Then, there's the real issue which is that Toyota itself is undercutting Hertz with the all-new 4Runner! That's right, you'll be better off rolling over to your local Toyota dealer and buying a brand-new 4Runner rather than buying a used one from Hertz. The base SR5 goes for $42,220 and including 4WD only pushes that price up by another $2,000—again, that holds true as long as Toyota dealers don't mark up the price. Notably, Hertz has some TRD Sport and TRD Off-Road trims of the 4Runner available as well but those aren't dramatically better from a value perspective. This two-wheel drive 4Runner TRD Sport has a price of $44,213 with 25,565 miles on the odometer. That said, it’s worth mentioning that Hertz could lower these prices over time, just as it did with the Shelby Mach-Es we recently told you about. Nevertheless, right now, for $4,500 more, a buyer could get a sixth-generation 2025 4Runner TRD Sport with all of the new bells and whistles that come with it. We've reached out to Toyota for additional information on its pricing strategy here and we'll update this post if we hear back
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