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FJ values: are we at the peak? (opinion)

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14K views 38 replies 22 participants last post by  darksidetourist57  
#1 ·
Hi folks, Jimmy here, author of the FJ Buy / Sell Guide here on FJ Cruiser Forums.

At 11PM MT last night, Toyota USA's facebook page announced the imminent return of the Land Cruiser:

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Which means that the next 2 years from Toyota will see 4 vehicles targeted at offroading / overlanding: the new Tacoma, the new Lexus GX, next year's 4Runner and now Land Cruiser.

Having now seen 2 of these 4 products demonstrated in detail, Toyota isn't screwing around. Horsepower and torque are up with the turbocharged hybrid powerplants, significantly. Frame and suspension modifications have been made to allow the new Tacoma to fit 35's without rubbing. Expect the 4Runner and Land Cruiser to be as offroad focused as the Tacoma and GX, if not more so.

One of the first questions I asked myself was: what does this do for FJ values?

Let's pretend that none of ^^^ this was happening. Let's pretend that Toyota continued to do what they've been doing for 20 years: the next 4Runner is more bland, slightly more fuel efficient, has more city driving tech. The next GX now has 360 cameras and climate concierge. In that scenario, what happens to FJ values? The same thing that has been happening for the last ~15 years. It's the last hardcore Toyota offroader, values stay high.

Problem is, the opposite is happening. When the FJ Trail Teams marketing effort debuted in 2007, that was for 1 vehicle (the FJ). Toyota is about to release 4 new vehicles that are not bland evolutionary changes to their existing lineup. The new Tacoma and GX both show that they are taking aim at the offroading / overlanding market. What are the odds that one of them is seen as a significant upgrade from the FJ? Especially one of the two we haven't seen yet, that will likely be more hardcore than the ones we have seen? Section 3A of the buy/sell guide is "You should probably be looking at a Lexus GX instead", that's based on the number of people I talk to about FJs who end up buying a GX. And that's a current luxury GX that they have to modify significantly to offroad, not a new overlanding-targeted GX.

If this ^^^ is what happens, I don't think the impact is immediate at all FJ price tiers. A ~$65K new Land Cruiser isn't going to make an '07 FJ with ~125K miles suddenly worthless. But is a collector-grade TTUE that sold for $103K still worth so much when a new Land Cruiser Trailhunter comes out? I'm not so sure. In 5 years as these vehicles start to compete with ~50K mile FJs, there's a good chance that the FJ is less desirable. Then in 10 years for 100K+ mile FJs, same thing.

What the FJ still has going for it, until we see the new 4Runner / Land Cruiser: a shorter wheelbase than the new vehicles will likely get. A better departure angle, unless Toyota puts the spare for those on the back door. An aggressive 2-door look that the 4-door vehicles can't replicate. And a simpler drivetrain -- no turbos, no hybrid -- that may prove to be more reliable, or it may not.

This isn't me saying "sell your FJs now!", if you love your FJ and it does what you need then I look forward to seeing your FJ on the trails. The main point of this post is that I'm excited that Toyota is finally taking our hobby seriously. I bought a TRD Off Road trim 4Runner and built it into a better truck than a TRD Pro, seeing the Trailhunter trim I'm no longer sure that my build is better. And they're doing this ^^^ with 4 new vehicles, not just one.

But if you're the type of FJ owner who is more collecting than using / enjoying, be aware ^^^ of this and how it may impact your values. We'll see.
 
#2 ·
I think a lot of it is about the technology too. I want a naturally-aspirated engine that's easy to maintain, and I want simple knobs and buttons on the inside that do what they're supposed to without having to navigate a touchscreen. I don't want the vehicle braking for me, I don't want the vehicle steering for me, and I don't want the friggin' thing beeping at me for every conceivable alert under the sun. The FJ is peak for me, as it has the safety, convenience and reliability I want without relying on a computer for too much. I've talked to plenty of others that share many of these same feelings, but like you, I'm curious to see where things head. So long as Toyota doesn't bring the LC in as a small stripped Prado model with front and rear lockers, I think our values are okay. Personally, I'd ditch my FJ pretty quick if Toyota went back to the old Land Cruiser style of a basic, functional off-roader at a reasonable price, assuming a manual transmission was still an option.
 
#4 ·
Its an exciting time for the offroad community. At Overland Expo West before the heavens came down upon us, I asked for a ride in the new Tundra. That thing did impressive off camber with the driver I had. So likely the new trucks going to be great.
I built up my FJ to enjoy it. Knew I would take a hit if sold it. Gets me in and out exploring and I can work on it if I choose to. Been no issues driving back and forth between the west coast and midwest. Its a pretty simple truck. And I have a bike rack to haul my bikes.
Either way keep the FJ or go new, its win win.
On the trails success and safety still comes down to driver skill regardless of the built in goodies.
 
#9 ·
Because they're classics at this point, more about an image than actual usability.

There are very few cars built in the last ~15 years that are worth more now than they sold for new, in the few cases where that does happen it's usually because you can't buy something new that is comparable. I think the market for "offroad capable Toyotas" that is currently limited to FJs, 4Runners and a few GX's is about to get a lot more crowded.
 
#7 ·
I dont think more off-road Toyotas hurt the FJ value, but may increase it. It may cut into the Bronco and Jeep market, but they ain’t making more FJs and the iconic FJ remains desirable…. Toyota going higher profile in off-road elevates all off-road Toyotas, rising tide concept…

fwiw Bronco copied the FJ style….

as said above newer more complicated is not what you want off-road…

i bought my FJ to use . not sell for profit so i only get bragging rights with the value rise
 
#8 ·
Glad to hear Toyota is announcing a renewed emphasis on off-road capability - it hasn’t escaped me how many different automobile companies film their ads in Moab or offroad (some almost laughable), yet at the same time more trails are being closed off or threatened. I do not care about resale value of my FJ one bit (she’s my 4ever vehicle) but greatly care about where I can wheel, and whether or not I get sh!t from locals about using said trail. Hence your post is great news - I’ll remain hopeful that Toyota has read the market and public sentiment, and is responding to the continued interest in off-roading and overlanding.

Also, it’s simply a fact that the FJC and FJ styles will always be iconic and everyone knows that 😍
 
#10 ·
I dunno. To me a stock FJ has little appeal (with all due respect to my fellow members with stock rigs). A stock FJ looks old, anemic, and uninteresting. I can’t see them continuing to fetch a huge premium.

On the other hand, the FJ really comes to life when you start to mod it for off-road, overlanding or even Mall crawler duty… and this is where it excells. Parts and mods are relatively affordable, it’s easy for DIY’ers to work on, and the reliability (although I don’t believe it lives up to its legendary status) is another draw. I think folks looking for a Jeep alternative will continue to be drawn to the value proposition of the FJ…reasonably affordable to buy and maintain, easy to mod and work on, capable and reliable, and stands out amongst the crowd.

Perhaps most importantly, new vehicle prices are mostly out of this world. It makes an old FJ priced well beyond what it was new, look like a bargain.
 
#19 ·
I dunno. To me a stock FJ has little appeal (with all due respect to my fellow members with stock rigs). A stock FJ looks old, anemic, and uninteresting. I can’t see them continuing to fetch a huge premium.

On the other hand, the FJ really comes to life when you start to mod it for off-road, overlanding or even Mall crawler duty… and this is where it excells. Parts and mods are relatively affordable, it’s easy for DIY’ers to work on, and the reliability (although I don’t believe it lives up to its legendary status) is another draw. I think folks looking for a Jeep alternative will continue to be drawn to the value proposition of the FJ…reasonably affordable to buy and maintain, easy to mod and work on, capable and reliable, and stands out amongst the crowd.

Perhaps most importantly, new vehicle prices are mostly out of this world. It makes an old FJ priced well beyond what it was new, look like a bargain.
Ah, but you're forgetting that a stock FJ in really good condition (no rust, low miles, never wrecked, etc.) is a clean unblemished block of boring marble just waiting for a serious artist modder to chisel it into a spectacular, distinctive and superior 4WD vehicle that the owner will cherish forever.
 
#11 ·
Market value is meaningless to me. My 07 FJ has brought me 10+ years of freedom exploring deserts to beaches to mountains, it works great, has never let me down from nasty desert trails to back country camping. With proper maintenance and the occasional part replacement, I expect the FJ will bring many more years of fun. No reason to sell if the value goes up or down 50%, Sure vehicles evolve with technologies, but do you really need another layer of gadgetry when the FJ is highly capable and will get you to the same remote camp spot that a newer model will? Selling is not for me, dollars sitting in the bank from a sale cannot replace the FJ love, glad I have one!
 
#12 ·
I love my FJ but have gotten antsy about trading. Just in the past couple of weeks I considered trading my 2010 in on...what I don't know, but something. Then the new LC news dropped, and I purposely am keeping my FJ on the off chance that the new LC is in fact a serious off roader with retro styling in which case I'll trade for that, and that will be my last car ever. My dream LC package comes out something like Jeep is doing - a 4 door option or a pickup option, with simple interiors that you can hose out, something that will take 33's or 35's easily, something that will take a decent bumper, etc. etc. If they just rebadge another rounded over, plain jane SUV like the Prado, (I mean, just look at the 2023 Prado for a taste of what I'm afraid they'll do) then I guess I'll keep my FJ until it croaks, because at that point it will be obvious that Toyota has shot its wad in my lifetime and in fact the FJC will be the last hardcore off roader that isn't just a Tacoma (and I'm not paying Lexus GX money). Tacomas don't excite me any more, I've had 3 of them. They're trucks and that's all fine. No way am I paying that kind of money for another Tacoma with a different sticker package.

I bet a ton of people with FJ's and 4Runners will trade in on a new LC and you will see prices drop on FJ's at that point. 4Runners are still nice enough grocery getters that they'll still be popular with the family car demographic in a way that FJ's never were.
 
#13 ·
Then the new LC news dropped, and I purposely am keeping my FJ on the off chance that the new LC is in fact a serious off roader with retro styling in which case I'll trade for that
The new LC300 is not coming to the US. Currently only being sold overseas.

The 2024 Lexus GX550 was announced about a week ago and it actually seems very promising, almost like Toyota actually listened to the offroad consumer crowd. I would buy one of those if I had the $ for it.
 
#14 ·
I agree totally - I like it a lot. What I'm hearing is that they want a price point BELOW the Lexus - more in line with the Bronco.

I'm hoping the new LC is a "Wrangler killer" and comes with a similar mindset. Every time I walk past a 4 door Jeep pickup sitting on 35's I think "Why in God's name can't Toyota do this?" Well maybe they will. You can't spit for hitting a new Jeep and maybe Toyota can win back some of that lost territory.

Until then I love my FJ - and I'll miss it if I have to trade it.
 
#15 ·
I agree totally - I like it a lot. What I'm hearing is that they want a price point BELOW the Lexus - more in line with the Bronco.

I'm hoping the new LC is a "Wrangler killer" and comes with a similar mindset.
Were are you finding info that we are getting a Land Cruiser in the US?
 
#22 ·
I would love to see Toyota basically follow Ford in making the new LC with removable doors and top. It's not inconceivable to think that this thing could possibly be the "FJ" a lot of us had hoped for. I see no reason the execs at Toyota haven't noticed the popularity of the FJ and decided to bring it back, changed a little, with a new badge.
 
#23 ·
Thanks for the update. The market dynamics of supply and demand are definitely at work here. Demand has increased for the FJ due to the increased interest in off-road/overland ecosystem. At the same time the supply of FJs are slowly decreasing.

The new Toyota offerings will most likely affect demand, as you intimated. The price of an FJ will not continue to increase to the point of a new 4Runner unless it is a rare collector vehicle. So this will add friction to the FJ price increases. If Toyota came out with a short wheel base direct competition to the FJ, this would add the most friction.

On the supply side, you would probably know more than anyone what may happen there.If everyone decides to sell their FJ when the new products come out, the price will drop. If no one is there to buy the FJs, they will really drop.

Eventually the FJ market will most likely rebound as the quirky FJ becomes supply limited similar to its forebears. I am looking forward to seeing what will happen as well.
 
#24 ·
With the sizing of the new LC being a bit bigger than the current 4Runner, I'm hoping they downsize the 4R some and go back to the roots with it. A Tacoma-based, smaller vehicle with a removable roof. The combination of those two, both being off-road oriented, could hurt FJ values a little, but we're still talking $50K+ vehicles, so there's plenty of market to keep FJ values up for the foreseeable future.
 
#27 · (Edited)
Nameplate bloat is as old as the Model A over the T. When Ford launched the Mustang II they touted how it bucked the trend (the '68 was bigger and the '71 was gigantic compared with the original 64 1/2). By many measures the II had similar interior room and power to weight ratio as the original, but the public hated it.

Pretty much only the Miata managed to avoid growing out of its intended purpose. A Corolla today is about the size of a '90s Camry, Rav4 about the size of a 4-Runner from that same era, etc.

Unfortunately, it is marketing 101 because customers always want more, and bigger, so long as they can afford it. Major economic downturns change that pretty dramatically but downturns never seem to last long enough for new product lines to be launched before economic growth returns and no one wants "small", again.

See the GM "downsizing blues" from the '80s as an example of this: GM did exactly the right thing, investing massive amounts into whole new downsized product lines but by the time they hit the market the economy was up again and their market share shrank faster than ever.
 
#29 · (Edited)
One thing worth mentioning is that the new turbo 4 cylinder and turbo V6 engines have not been around long enough to know if they will be as reliable long term.

Everyone knows that the Toyota naturally aspirated 4.0 V6 and 4.6/5.7 V8 engines last forever. No one likes the smaller V6 in the latest gen Tacoma...it's weak sauce. Some tundra owners went back to an older model v8 tundra after buying the new turbo v6.

I know the new engines outperform the older reliable engines on paper but some still don't like them. Feels like the Ford v6 ecoboost engines to me.

Also the price of these new Toyota vehicles will help maintain fj prices to some degree. And if Toyota sells the new Land Cruiser at 65k like you suggest, then they have cut out a lot of the features that were in the 2020 land cruiser which was priced at 85k+....heck they were selling the Heritage model for $100k at some dealerships. Everything is so expensive that a clean low mileage $40k fj seems like a good deal.

As others mentioned, the technology on the newer cars is too much for some of us. The big dials on the center console are perfect and a reminder of simpler times. People love the simplicity and ruggedness of the fj. It's just so unique.

I do think the new Toyota and lexus models will sell like hot cakes and I'm glad Toyota is once again investing in this segment.

Sidenote: I own a 2011 NSSE and a 2014 TTUE. But I traded in my 2008 sun fusion FJ with 200k miles for a 2023 Lexus GX460 in April (I wanted a gx with a v8 for my wife. I didn't want the one coming out in 2024 with the smaller v6). Anyway, the dealer gave me $13k on the trade which was exactly half of what I paid for it 15 YEARS AGO. Talk about a low cost of ownership! That thing was wrecked several times by my daughters..had a cracked windshield and some dings in the body/roof. still gave me 13k. Honestly it did drive as good as the day I bought it....straight as an arrow and smooth.

Only the fj...the thing is like a precious metal.

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#30 ·
Hmmm....

New Land Cruiser may be 4 cylinder only


If true, $65k for a 4 cylinder Land Cruiser seems ridiculous.

"The engines in the screenshot start with the 1GD-FTV, a 2.8-liter turbodiesel that powers the current Toyota Prado SUV, Toyota Hilux pickup, and Toyota Fortuner SUV in Australia. The second engine is the 2TR-FE, anticipated to be a 2.7-liter four-cylinder gas engine allotted to entry-level mill in markets where there will be Prado trim steps. The Land Cruiser's always been sold here with one engine at a time, so if U.S. shoppers get a choice, that would be another departure.

The third engine is figured to be a turbocharged 2.4-liter gas engine, the T24A-FTS four-cylinder we know from the new Tacoma pickup in hybrid form. In the Tacoma, the setup comes in three outputs: 228 horsepower and 243 pound-feet of torque; 270 hp and 310 lb-ft; or 278 hp and 317 lb-ft. When the Land Cruiser retired in the U.S. after the 2021 model year, it drove off with a 5.7-liter V8 making 381 hp and 401 lb⋅ft. The new version will be a comedown in power, but remember, we expect the new model to be substantially lighter than the 5,815-pound 200-Series Land Cruiser. "



"Rationalizing the engine lineup to four-cylinder-only could make production easier, and in the U.S., it could help keep distance between the Land Cruiser and the 2024 Lexus GX 550h. The Lexus uses a twin-turbo 3.4-liter V6 hybrid making 340 hp and 479 lb-ft. It's also possible a six-cylinder joins the Land Cruiser lineup later. "
Image


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#37 ·
Here is CA I'm seeing prices on the 2010+ 4x4 models with options going back up again. There's one plain jane 2010 with 235K miles going for $16K and it has been messed with. Everything else is north of $25K and up to $50K with low miles and a later model year. The factory optioned ones are still north of $25K regardless. Pre 2010 models are no longer inexpensive. A few in my neighborhood were going for $7K. Now they are all above $10K and many are $20K. Whenever I take mine to the car wash people say "Oh, he's a rich dude". Weird how CA Toyotas have become status symbols that almost never go off road. FJ-40's are all fetching at least $65K if they have an engine. There was a FJ-60 from Texas near my house for $24K. Sold before the sign went on it and just resold for $69K. 214K on the ODO.
 
#38 ·
Some thoughts as to why FJs prices should continue to increase.

Not that many FJs were sold in the US.
Every day there are less FJs on the road, high milage, accidents and rust are some of the causes with no replacements being made.

With proper maintenance. You should expect to get 200k to 300k miles out of an FJ. It will be interesting to see if the Bronco’s or similar vehicles can be as dependable as the FJ at the 5,10,15 year mark.

FJs iconic look, will stand the test of time.

For folks who want to purchase a new vehicle with a naturally aspirated engine their options will be very limited. In the near future new vehicles will not have this option.

Some of the big auction houses have had FJs sell for very high prices. I expect this trend to continue and eventually see some frame off restorations go up on the auction block.

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#39 · (Edited)
The whole car collector thing is going to take an interesting turn in the next 10 or so years- it's people in their 50's, 60's and 70's (like a lot of us) that are fueling the auction house craze, the next generation doesn't seem nearly as interested and as these collections are liquidated, some think these 'kids' aren't going to step up with the same fervor. If you look at the stock Model A/Model T (and other similar cars) market, which was driven by the Baby Boomers' fathers, you'll see what I mean. Some 'experts' believe the interest in clean, low mileage FJ's is short term. Don't get me wrong- I'd get a real kick out of it if before I died my boys (or for that matter, ANYONE! ;)) decided to frame off restore my '08 (as long as they do it with all the cool Marlin Crawler Long Travel stuff, 37's on Method beadgrips and a beefed rear axle... and don't forget the supercharger! 🤣 😈🤣- think big, evil laugh here), but to that next generation there just isn't the passion we've held (and grown up with) for anything automotive. For too many of them a car is just another tool.
 
owns 2008 Toyota FJ Cruiser