Vintage 4x4 values are recovering, and the FJ60 may be the buy

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After a post-2022 correction, Hagerty data shows the top vintage trucks firming up first, and the FJ60 hasn't caught up yet.

Vintage 4x4s went through a boom and a correction, and Hagerty says the market is starting to turn again. In an Oct 6 piece, Hagerty's Nick Jaynes walks through the latest Hagerty Price Guide numbers.

The long-term picture is huge. Jaynes writes that a decent 1971 Ford Bronco could be had for well under $10,000 in 2006 and now trades around $50,000 in "good" condition. A good-condition first-gen Bronco is up more than 400% this century, and the best FJ40 Land Cruisers have reached six figures.

Then came the hangover. After the 2020–22 frenzy, the market pulled back starting in late 2022. Per Hagerty, a good-condition Grand Wagoneer is down more than 26% over three years, an FJ60 Land Cruiser is down 20%, and the Scout II slid about 10%. A Bronco bought near the top in early 2022 lost about 20% of its value.

Now the leaders are recovering. Hagerty says some FJ40 models are up 23% over three years and 8.2% in the past year. The Grand Wagoneer is up almost 9% this year, the Scout II is back in positive territory, and the Bronco has been flat for the past quarter after three years of falling. Hagerty's Greg Ingold said there is "a recovery going on with these segment leaders."

That's why Jaynes calls the FJ60 the segment's "buy." It has followed the FJ40's curve a few years behind and is down 20% over three years and 15% over the past year, at about $24,800 in good condition. He also flags the 1969–91 Chevy K10 Blazer, which barely rose or fell, with a good '75 Cheyenne around $24,900.

Hagerty says Gen X and millennial buyers who grew up with SUVs are driving demand. As always, this is market commentary, not financial advice, and Jaynes says so himself. But if you want an old truck to actually drive, prices have reset.

Sources: Hagerty