Tips for 4runner shopping

I bought a 4Runner last summer and learned from my experience. Here are some buying tips that may help you as you look for a used 4Runner. There may be some things you haven't thought about before. And I'm sure some of my advice you will not agree with at all.

Don’t purchase without a CarFax They seem expensive at $40 for one report, but it’s cheap insurance against overpaying for a salvaged or flooded vehicle. I bought a 4Runner for $4000. The CarFax I paid for made the price $4040, a 1% price increase. For a more expensive car the CarFax would cost the same but the % of the purchase price would be lower. Most car dealers will provide a CarFax for free. I wouldn't buy a car without a CarFax to check its history. (I edited out my "dumb" comment. I was dumb for stating it this way.)

Shop for a month before buying If you peruse 4Runner ads on Craigslist, eBay, Cargurus, and other car buying sites, after a few weeks you can dismiss many (most?) cars immediately as overpriced, see what the going rate is for local cars, and spot an occasional good deal. You will be in a much, much better negotiating position if you know the car’s current market value. The seller knows. Why not you? You don’t have to “buy it now”. There are millions of 4Runners on the road and new ones come up for sale daily. There is a term in financial circles to describe buying too soon without research, FOMO. Fear of missing out. If a 4Runner in my area comes up for sale I better buy it, right now. There may never be another like it. Nope. There’s always another one. If you have done your research, you are a better buyer.

“Garage Kept” is a big plus If buying from an individual, try to find out if the car was kept in a garage. My 1999 was. The exterior paint finish is almost like new. Also being kept out of the sun means no dashboard plastic cracks.

Look for cars from a state requiring an annual inspection I live in Alabama and I’m glad we don’t have an annual inspection law. But the 4Runner I bought came from Georgia and in its CarFax history I can see the annual inspections and that several sensors have been replaced as well as several “emission system serviced” entries over the years. A high mileage car that passed a recent annual inspection is a lot less likely to require after purchase maintenance to be reliable and economical to drive.

A dirty, but dry engine bay is good Everyone knows an engine covered in oil shows valve cover gasket replacement and maybe worse is facing you. What about a spotless, shiny, recently cleaned engine bay? The seller may be hiding a leaky, worn engine. An engine that is dry and lightly covered in dust is probably in good shape and not detailed to hide something.

A dealer may give a better deal than an individual Not necessarily a cheaper price, but a much better car for the money. This applies mainly to relatively new cars, 10 years old or less. Large dealers (like CarMax and new car dealers) have full-time buyers that go to auctions and see thousands of cars. Picking good ones and avoiding lemons is essential to the firm’s reputation and profit. If you buy 50 cars a week you get pretty good at it, better than me and maybe better than you. I recently shopped for a 2013 Honda Accord. I probably paid $1000 or $2000 more than I would have from an individual or small dealership. But it is in perfect condition, everything works, and it has been 100% trouble-free. None of the similar non-large dealer cars was close to the value I got. On the other hand, the 1999 4Runner I got from an individual was a much better deal than what small dealers had for sale. Large dealers seldom have 20 year old cars on their lot.

Add repair price to get final price My $4000 4Runner was actually a $6000 4Runner. Still a decent deal I think. It had worn out tires, required an alignment, needed its brakes replaced, the driver’s seat needed recovering, and it had two broken light tail light and parking light lenses. But an ultra cheap 4Runner with major problems may not be a bargain at all. Add up estimated repairs to add to the purchase price and then re-evaluate your deal.

Some problems work in your favor Things that are easily fixed and self-fixable for a known price enable you to know your final cost and make a wise decision. And visible, easily fixed items can let you negotiate a lower price. Examples are tires, brakes, appearance items, exhaust pipe leaks, cracked windshield. Things that are unknown could make your purchase a real money pit. Examples are engine and transmission problems, electrical issues, underbody stuff rusted, loose, or missing.

Modified or strictly stock This one is controversial. Here are two viewpoints. Choose the one that you agree with.

1. Modified: A car equipped with heavy duty suspension, heavy duty brakes, extra large tires, a lift kit, running board delete, special rims, or free-flowing exhaust shows it was owned by someone who knows cars and how to take care of them. Serious money was spent and this car was given the best care. And I am going to do some of these mods anyway so this reduces my final cost.

2. Strictly stock and preferably 2WD: Some of the most skilled engineers in the world designed the 4Runner to run efficiently and reliably. And changes made to enable the driver to look down onto other drivers and look bad-ass at the traffic light are for the better? How do off-road miles, mudding, rock climbing, etc. compare to on-pavement miles in wear and tear? 10:1 ? 100:1 ? 1000:1 ? And what are the driving habits of a 20 year old off-roader vs. a soccer mom, and how will they affect the car’s condition?

Calculate cost per remaining mile Several years ago for fun I made a spreadsheet comparing costs per remaining mile for 4Runners ranging from nearly new to very old. I assumed all cars would travel 15,000 miles per year, had a lifetime of 400,000 miles, and the cost was the average price for the year model. Things have changed and the prices are no longer current. But the method is the same.

The most expensive were very new cars, and very old cars. The nearly new ones cost more per remaining mile because they had not depreciated much and the very old ones cost more per remaining mile because they had not much life left in them.

Example 1: 2021 4Runner with 15,000 miles cost $49,500. 400,000 – 15,000 = 385,000 remaining miles. $49,500 / 385,000 = $0.13 per remaining mile.

Example 2: 2007 4Runner with 225,000 miles cost $13,300. 400,000 – 225,000 = 175,000 remaining miles. $13,300 / 175,000 = $0.08 per remaining mile.

Example 3: 1999 4Runner with 345,000 miles cost $10,100. 400,000 – 345,000 = 55,000 remaining miles. $10,100 / 55,000 = $0.18 per remaining mile.

Your potential purchase won’t match any of the above examples but you can figure your cost per remaining mile to compare to other cars on your shopping list. My purchase was a 1999 4Runner with 201,000 miles that cost $6000 after necessary repairs. My cost per remaining mile calculated to be $6000 / 199,000 = $0.03 per remaining mile.

Moral: To get the most for your money buy a low mileage older vehicle.

But if you’re like me you have to take what you can get and I was very fortunate to find a 4Runner with low mileage for its age and not a high price.