Clueless Newbie with an Obnoxious Question

Always wanted to buy a 4runner with my eyes particularly set on a 3rd gen. I finally have enough money and I am starting to look. However, prices seem very high for what I am getting. I know these vehicles are the paragon of reliability and if they are well maintained can hit 250k+. But it seems like 4runners have reached full cult status and there is a big bubble in the market. I am seeing rigs with relatively low miles that are priced at around 8k. Like this one for example (https://tampa.craigslist.org/hil/cto/d/orlando-1996-toyota-4runner-4x4-5-speed/7131663919.html). I am also seeing ones in much worse condition pushing 200k+ miles that aren't significantly cheaper. I suppose I might be a bit nervous to drop this kind of coin on a 25 year old car.

What's going on here? Are these overpriced? Am I an idiot?

 

Good question and I think there is no clear answer to it, maybe that one was treaded always in the best way and will last another 140k miles and 25 years, maybe it will not!
I personally looked into a 3rd gen as well and my opinion is that 8k is too much but again you really will know if you paid to much after years or miles of driving it.
I think the real value for that age is more 4-5k but sure enough getting a good one for that money can be a challenge

 

I just looked again and I seen some for 2k (170k Miles, SR5, 4x4) and im sure when that one got a nice detail job and some mechanical love it’s as good as the 8k one

 

Just remember, people selling vehicles can ask any amount they want and it doesn't mean they will get it. A vehicle is only worth what people will pay for it. I have a 96 with 469,000 miles so yes, they are amazing trucks but it all comes down to your budget.

 

Some of those people are the ones that might be looking to make a quick flip to make a couple grand. Taking advantage of the T4Rs popularity. Be careful, I see scam posts using Toyota trucks all the time. I had a person claim they were getting deployed and wanted me to send a 1k deposit, and a family member would finalize the sale. Then I saw the same vehicle for sale a thousand miles away. Others have a strong attachment and don't want to sell at all, they're just feeling the market out. Is a 150 to 200k mile well cared for 3rd gen worth 5 to 7k? You bet ya, but you have to weed the bad ones out unfortunately. The other thing is just because it has some dents and dings, doesn't mean it wasn't taken care of mechanically.

 

i think 4-5k is a little more my budget but I would stretch it a bit if I found something "perfect". Definitely a roll of the dice in terms of not knowing if it was a deal until years of driving it. I think this is a good perspective, I appreciate it.

 

All really good points and an interesting way to look at it. This will be helpful going forward, thank you.

 

Saw a fully loaded 2002 Limitted 4x4 locally here recently for $13k. 85k miles. Garage kept. NC southern car. Pictures looked perfect. Two days later when I decided I should maybe take a look...it was already gone.

I thought for sure it wouldn't sell so quick for that price even with low miles.

So yeah, there's a bit of money chasing the good ones.

 

But 85k in 18 years, that’s roughly 90miles a week. Even when that wasn’t a daily driver I bet it got a huge amount of cold cranks and that isn’t good. I always prefer a highway runner over a grocery runner.

 

you can always go look and make an offer, though total low ball offers are a pain, which was often when I recently sold my 99 tacoma. But id say dont ever go expecting to pay the price that is listed when it comes to used cars. Everyone I know who has sold cars listing a price that would be nice to get vs what they would acutally take.

 

We just bought our 2000 with 170,000 miles in SoCal for $3,400. Runs great, passed smog, needs seat covers and for safety I put brand new tires on it. I literally emailed the guy 4 minutes after he posted it and he already had two other buyers interested. I said I would pay his asking price and he saved it for me. I think I got a fair deal for a great ride!

 

Same! I bought my '03 in '05 with 80K on it. I'd probably be pushing 350K by now, but I traded it in.

Funny, my 4runner is no longer a "daily" since I have a work vehicle that I take home every night. But, I've still managed to rack up over 5K in the last 3 months anyway.

 

If you plan on financing have at least $1500 cash set aside for any immediate problems. Same thing if you plan on paying cash, I'd have some extra set aside for any problems.

My personal opinion is a 3rd gen without major body damage, rust, etc, that runs reliably is worth 5-7k depending on miles and overall condition.

If a super clean one pops up then I'd pay a little more.

I found my 2001 4x4 sport at a big Honda dealer originally marked $8400. I got it for right around 5k. Had 173k miles, but bad paint, and shredded front seats.

I had to get a new rack and pinion literally the first week, shortly after that a new battery, plugs, and wires. Also the suspension was saggy. Previous owner didn't take great care of it.

I knew the cosmetics were needed and budgeted for it. I had been searching for weeks.

Long story short. I love my truck. They have a timeless look, great reliability, and will last forever. But be prepared to get it up to speed on maintenance immediately after purchase.