Buying my first 4Runner

What’s going on everybody. So I’ve been in the market recently for a classic 4 x 4. And I finally narrowed it down and found a 1988 four-cylinder manual with only 65,000 original miles. The owner and her late husband bought it new. It has been garage kept and lightly driven. We have agreed to terms and I hope to pick it up in two weeks. I am paying quite a bit but she’s putting new tires on it. It will be $15,000. She’s also going to provide a PPI. Can anyone tell me about the 4 x 4 badging on the side. I haven’t seen that on a lot of the 88’s that have sold in auctions. What are y’all think about the price?

 

Welcome to the forum Steven, i think you got a very good deal.

 

As long as there's no rust, this is one hell of a find!

 

Welcome and congratulations on thinking about a classic 4Runner.

I personally think it is way overpriced for what it is. You have to consider age as much as mileage. Even being garage kept, it is going to have a bunch of issues with the rubber degrading.

NADA high retail for the top of the line model of that year is $3,800.00. I would not pay more than that. If you really want it, offer 3,800.00. If they do not want to sell it for that then I recommend you walk away. I never ever get caught up in the emotion of what the seller thinks it's worth. OTOH if you have the money and have no issue paying almost 4 times of what it's worth then go for it.

 

I cannot imagine offering somebody 3800 for this. It has zero rust. One owner. Has every single service record and there’s never been an accident. Always been garage kept. extremely low miles for the year. These are trending upwards. They are auctioning for mid 20s when restored properly. There wouldn’t be much to do to this one. No rips or tears inside. You could probably put a fresh coat of paint on this, some aftermarket decals, and still turn a profit. Obviously this is super high end of the spectrum. But this one that auctioned for 42 has 10,000 more miles than the one I have agreed to buy.

 

True definition of a garage/barn find. Welcome and congrats! FYI those retro floor mats are sweet!

 

Thank you. How can I find the exact replacement for those factory stripes? I found some, but not exact match. Can’t find the 4x4 that is on the door

 

That's cool. The vehicle is only worth what someone will pay. If you are willing to plunk down 15,000 hard earned dollars for it then it's all good. Even fully restored it is still going to be a money pit. As long as you are aware of the shortfalls and compromise then get it. Also will be good to remember this vehicle is not going to hold it's value. We are in a very weird time right now where vehicle prices are at insane high levels.

I had a really good friend who was into Vintage Indian motorcycles. The insanity of watching guys bid these old beat to crap and restored bikes up into the stratosphere was puzzling and mind boggling. To them it's the rush of winning the bid. Then comes the crash of pouring endless amounts of money to keep them ridable.

To me an 88 4Runner is not a classic. It is merely a 33 year old vehicle that will need a lot of work and upkeep. The NADA pricing is the proving ground for current vehicle value for the masses. I might add that in the case of new and under 10 year old vehicles even NADA listings are outrageous during these strange times.

Best and very most accurate way to price a new or use vehicle is hit up a bank. The LTV will be about 115% - 125% for good credit. Simply subtract 25% of what the full amount of loan will be and now you have the true maximum value of any vehicle. FWIW Banks use dealers invoice as the base of value. For used vehicles I'm not sure. I do know loan officers in motorcycle dealerships use NADA for used bikes writing up loans.

 

Welcome from Arizona! Good find.

 

Assuming it's mint as the op says that 4runner will always be worth way more than 3800 even during a recession. 15k is on the higher end but if everything is legit it would fetch 10k all day long even during the shittiest of times

 

$3800? Lol

Have you ever bought a Toyota truck?

 

Suboptimal pictures of a truck in Virginia, where rust is an issue, and no photos of the undercarriage.

Good luck.

 

I have many friends who have and that is what a 33 year old truck is worth. I have seen Tundras and Tacomas in years past go for under 4,000.00. It may be different in other parts of the country. I'm in Southern CA.

 

My gawd, OG 4runner kept that great in shape? It's like the T-1000...old, but not obsolete (at least in the T4R Universe)

 

don't listen to those who would belittle you for your purchase. whether it was 1500, 0r 15,000, you can't put a price on pleasure. welcome to the forum

 

Welcome from Wisconsin! The picture of the interior takes me back to my '86 pickup. Very nice find!

 

Welcome to forum and congratulations. My biggest concern would be the frame. Inspect it and make sure it’s ok. That is a good find! My parents had almost same model when I was growing up. Also had a excellent 1983 Toyota truck. Frame rust would be a big concern.

 

Classics don’t fall under any true NADA values. And, more importantly, the market on these are not dictated by the bank, it’s cash all day.

 

Hi there Jeff, I think you missed my point. Accurate vehicle value is dictated by what banks are willing to loan. In the end of course it's cash. Calling an 88 4Runner a classic is the same as a 88 Ford Escort. They are nothing more than 33 year old vehicles. Now of course if someone is willing to pay triple or quadruple the value that is up to the buyer.

I will tell you with 100% certainty that a bank is not going to loan $15,000.00 on a 1988 4Runner with just the vehicle as collateral.

 

In making a comp you can’t compare a 4 to a 6. It is indeed priced like a classic. The old lady is clever.

 

Interestingly, 15k is the original MSRP. But it cost the old lady quite a bit per mile to pay the insurance and upkeep for 33 years.