270k mile 3rd Gen 4Runner... Is this a good deal for the price?

Hi! So I have come across a listing for a 3rd Gen 1998 Limited 2WD that has 270k miles for 5,500. The frame has no rust. The hood and roof of the car has faded paint. I was able to take it in to a mechanic to have it checked out. They said the engine was strong but told me it had about 3k worth of things to fix including the timing belt. It has quite a few leaks, the ball joints are worn out, valve cover leaks, rack and pinion leaks, the list goes on and on. It comes with 4 sets of roughly new tires (regular and snow tires). Most of the mileage is highway. The interior has been up-kept for the year of the car. I was able to negotiate down to 4,000. Is there a possibility that more things will just continue to go downhill from here?

Is this worth fixing? Is it worth the investment? or should i just keep looking for another car. I just happened to stumble upon it.

 

Well I mean some simple math there.

KBB says a 2002 Limited in excellent condition is worth about $5,500 and it doesn't sound to be in excellent condition.

So $4k + $3k in work is $7k.

 

used car prices are dropping like a rock.

 

Maybe f it was four-wheel drive. With a two-wheel drive, to me it's not worth sinking all that money into it and then having something that you're going to have a hard time selling afterwards should you decide to do so.

If you're looking for a project and you plan on doing all the work yourself, then maybe that it might be worth it, but I still have a hard time with 2WD 4Runners.

 

Thanks, your reply is much appreciated. I'll keep that in mind. I was a bit wary on the whole package which is why I chose to turn to the 4runner experts for advice. Any other advice/opinions is welcomed as well.

 

Last year I bought a 1999 Limited for $4000 + $2000 for brakes, tires, cosmetic repairs. 200,000 miles. It's a 2WD and I really like this vehicle. Mine has no leaks at all and is "tight" - no rattles, no leaks, no play in steering, shocks are OK. If you don't drive off road the 2WD is better. Mine has a record of good maintenance but no timing belt replacement. I'm rolling the dice and driving as is.

Self-done repairs: Clock - resoldered circuit board, HVAC controls - fixed by spraying fan and temp. potentiometers with cleaner spray, shift lever wobble - replaced plastic bushings, reupholstered driver seat bottom.

I was lucky to find a good deal on my 4Runner. The one you are looking at seems like a good deal but not a great deal for $4000. If you get a 4WD I think you would pay more initially and have more to spend in possible repairs. Again, if you don't drive off road you can save a lot with a 2WD. (I know I am in a minority preferring 2WD, but to each his own.)

 

in my market a decent price for a 3rd gen 4r in decent condition (not needing thousands in repairs) is around 2.5k for a 2wd above 250k miles. 4wd in range condition go for around twice a much with the rear locker.

 

2WD is a huge bonus in my opinion unless you plan on serious off-road driving including beaches. Otherwise it's hundreds of pounds lighter with less maintenance: diff oil, transfer case oil, zerks and sleeve joints greased on the front drive shaft, worn out CV joints etc.