Was it worth it?

I just took my 98 4wd 4runner limited in to get a remanufactured engine put in it. Had to do it due to compression loss on the top end of one cylinder and it would have been almost as expensive to fix it properly and since it had 270K miles I figured just do it all. I ended up making a deal for 8k out the door. This included the engine installed with all new accessories ( water pump, timing belt, seals, plugs ect.) also getting the brakes done, diff and transmission fluids flushed. Other than the engine its in great shape, hasnt been beat up and no rust on the frame or undercarriage. What do you guys think? Should I have opted for a new rig and gone the payment route or bought another used one?

 

I think you did good, personally. Depending on your location, finding another used one with lower mileage would probably cost you around $8k(+/- $1k) anyway and you'd inevitably end up spending some on maintenance regardless. Also, another used one would have a whole new set of "unknowns" that are always in the back of our minds...

If yours is really in great shape, I'd say you did the right thing and it'll likely last a lot longer and end up serving you well. Clearly there's some sentimental value cooked in there too and that's priceless. New rig/payment route is obviously the best for piece of mind, but also 4x the cost of what you paid for what will, in all likelihood, be several more years of reliability.

 

Not something I'd do but your not me... If your happy with it that's all that matters.

 

I'm thinking 8k is easier to swallow than 5 times that would have been. Considering the overall shape your runner is in.

 

I think that's a wise choice; it will be ready for the next 270k miles.

 

I originally voted no, because it's a lot of money to spend on a 23 year old ride, but thought about what I would personally do. With those fixes, I'm sure it will last you another 23 or more years, and 3rd gens are honestly so cool. Plus, it's a lot less than getting a new runner. Enjoy and best of luck!

 

My Wife and I bought a '98 Limited in 2002. It was a lease turn in at 75k highway miles. Not a scratch underneath it.
We ran it up to 275k miles and started to throw codes. Low compression in #3 cyl., bad valves and seats.
We traded it in for a new 2010 Rav4 V6 2wd. Still took on dirt roads though.
Oh and they gave us $12k for the trade in.
Toyota's are definitely high mileage vehicles.

Except 5th gen windshields suck and they know it.

 

I had for many years a paid off in full 1998 4Runner and I did have to replace the engine at one point in time I did it myself but wow it was great no monthly payments to make to the bank However I did keep in mind that someday I was going to want a newer rig so I made monthly payments to a savings account and considered once it is in there it was gone after 4 years of doing that at $245 a month I took that plus tax return and bonus from work purchased new 2007 Toyota FJ cruiser pissed the dealership Loan manager off when I told him I only wanted to finance $4,500 of the entire purchase...

 

Yup, the interest on the loans is where they make their money.
They don't WANT you to pay cash, or only finance a small portion of the cost. They want you to finance a big portion of the vehicle. And only make the minimum payments.

Credit cards are the same way. Keep a big balance, and only make minimum payments. That's what THEY want you to do.
Irritates them no end when you only use it for the bare minimum you HAVE to, and make large payments. Every penny you pay above the minimum payment is cash off the principle, which lowers the interest they can charge.

Have fun, all!
Pat☺

 

Posted some pics if youd like to see

 

Nice rig im in snoqualmie bought a 98 limited 4wd auto no rear dif lock. Its in fantastic shape 227k miles..

 

Yes!

If you like it I think it was totally worth it. 3rd gens are so good looking, and yours appears super clean.

 

I think it was a wise decision, better the devil you know right. Now you know for sure you have a good 4runner with a good engine, and no rust, in a package you like with good options. I paid about that much for a rare optioned 4runner (and it was only a base model too), depending on where you live a vehicle like that would cost what you paid to get the engine redone.

And your paint doesn't look like its gone through a war like mine. Definitely a good deal if you liked the vehicle already.

 

Old thread but I figured I’d post and update. Car has been running great and has taken me on many adventures. I’ve put in an Apple CarPlay system, new speakers, small subwoofer, a 2.5 inch icon lift with all the upper control arms. Absolutely loving this thing and I’m glad I kept it. More upgrades to come…