I just checked the NADA value of a 3-4 year old Sequoia (2012) 4WD with 40,000 miles and the "Clean Retail" value is $41,000. Even the "Clean Trade-in" value is $38,000. The 2WD version (why would you buy this?) is about $1500 cheaper. The prices of used cars, especially Japanese cars, have gotten so high that it almost doesn't make sense to buy used over new anymore unless you are getting a car that is at least 5 years old. If you figure that the car will run 200k miles and then calculate the cost per mile, it is typically cheaper now on a per mile basis to buy a new car than a used car that is 1-3 years old.

We all tell the stories of how cheap we got our low mileage used cars and feel pretty smart but the market has changed dramatically in the last 5 years and a purchase like the one you made in 2007 just isn't realistic today.