Every Generation Of Toyota 4Runner Ranked Least To Most Valuable
Toyota edged out Ford last year as the bestselling auto brand in the United States, with a shade less than 2 million vehicles sold. Five of the ten best-selling vehicle models worldwide are Toyotas, including the Camry, Hilux, and CR-V.
While it may not be at the top of sales charts with an average of fewer than 100,000 sold yearly since 2005, Toyota's 4Runner has established a reputation for durability and lasting value since it first hit the roads and trails in the United States in 1984. That first 4Runner was essentially just a Hilux with a rear seat and a fiberglass camper shell added on.
The first update to the 4Runner came for the 1990 model year, and the mid-sized SUV is now in its fifth generation. Let's compare how each of the five eras of this venerated model compare in terms of their current value and take a closer look at how the 4Runner has evolved over its almost 40 years in development.
First Generation: 1984-1989
It should come as no surprise that the oldest 4Runner has the lowest book value. The original generation ran from 1984 through 1989, and the 1989 version had an MSRP of just under $14,000. Depending on condition, the official market value for that vintage 4Runner currently sits between roughly $2,000 and $4,000.
Toyota introduced the 4Runner as a smaller replacement for the outgoing Land Cruiser and originally outfitted it with the legendary 22R inline 4-cylinder engine. Toyota debuted the SR5 trim level in 1985 and added a turbo option to the SR5 the following year. A naturally aspirated 3.0-liter V6 capable of 145 horsepower and 177 lb-ft of torque arrived in 1988.
While the stated book value of first-generation 4Runners is laughably low, these models are scarce, and the removable top makes them desirable. There are currently no first-generation 4Runners available for sale on Bring a Trailer or eBay, and the only two listed on cars.com have asking prices well above the value set by industry standard-bearers like JD Power.
[Featured image by OSX via Wikimedia Commons | Cropped and scaled | CC BY-SA 3.0]
Second Generation: 1990-1995
The fourth most valuable generation of 4Runner by book value is the next one in its evolution. The second generation debuted with the 1990 model year and had a price tag of slightly more than $16,000. The second generation 4Runner saw some changes to the body, including abandoning the removable rear top and adding rear doors. The rear leaf springs were also switched to coils, and the transfer case on the V6 models was changed from a gear drive to a chain drive.
The 1990 model is currently valued at between $2,000 and $5,000 depending on condition, while the 1995 model year is valued at a few hundred dollars more than that. Considering that it is common for these vehicles to run beyond 150,000 miles, it's likely you can find one on the used marketplace at or near those prices that still has some life left in it.
Fourth Generation: 2003-2009
The fourth generation 4Runners are the next most valuable; that series ran from 2003 through 2009, and the 2006 model currently holds a value of between roughly $4,000 and $5,500, depending on condition. This generation saw updates to the body to make it more rounded and a switch from locking differentials in the axles to a Torsen locking center differential. The interior was also made bigger and more luxurious, possibly to bring the 4Runner's sales in line with the more popular Ford Explorer, which outsold the 4Runner by more than 100,000 units in 2005.
The fourth generation saw Toyota drop the inline 4-cylinder engine in favor of a 4.0-liter V6 and a 4.7-liter V8, which cut the 4Runner's fuel mileage down to 18mpg combined for the V6 and just 16mpg for the V8. Sales of the 4Runner dropped steadily throughout this generation, from a little more than 100,000 units each in 2005 and 2006 to below 50,000 in 2008 and under the 20,000 mark in 2009.
Third Generation: 1996-2002
Moving further up the 4Runner value scale takes us to the third generation, which ran from 1996 through 2002. The 2002 model initially sold for just over $36,000, and that model year 4Runner is valued at between about $3,500 and $8,300 today, depending on condition. The third generation 4Runner was the first model to have a design that wasn't shared with Toyota's line of pickup trucks, and Toyota also updated the SUV with bigger engines: a 2.7-liter I4 and an optional 3.4-liter V6.
The body was also rounded off, the wheelbase was extended, and the interior was significantly upgraded. The third-generation 4Runner has remarkable staying power: there are currently a dozen listed for sale at cars.com that have been driven more than a quarter million miles, and one owner of a 2002 model in Colorado reported putting more than 400,000 miles on theirs. "419k and still hauling the trailer with the boat," they wrote. "The BEST CAR EVER!!! Love this car. Wish they made them this well now."
Fifth Generation: 2010-Present
The latest update to the 4Runner came in 2010, and that year's model currently has a book value of between $14,000 and $15,000, depending on condition. A 2023 4Runner has a base MSRP of just over $40,000, making the newest generation unsurprisingly the most valuable.
The update in 2010 brought a more powerful 270 horsepower V-6 and an off-road-ready TRD Pro trim package that included beefier tires, shocks, skid plates, and springs. The 2020 model saw the addition of driver-assist technology like lane departure alert, collision avoidance and pedestrian detection systems, and radar-assisted dynamic cruise control.
The fifth generation also saw the 4Runner's sales recover from the fourth generation's nosedive, climbing from less than 50,000 in 2013 to more than 77,000 the following year and besting the 100,000 mark every year from 2016 through last year. It remains to be seen if the climbing sticker price for new 4Runners reverses that trend, but Toyota's dedication to the model and commitment to the truck and SUV sector means the 4Runner is likely here to stay.