3rd gen value vs maintenance/mods

[amalik]

Just trying to get a feel out there from fellow 3rd gen owners.

We all know the book value of 3rd gens is pretty low - even for Excellent condition -- for my year (97) -- the KBB is $4k.

Depending on the amount of maintenance/projects/mods, it's possible to tally up half of the $4k or more over time.

Obviously most of our 3rd gens mean a lot more to us than what depreciated book value says, but just curious how many folks have tallied up costs that are 50% or more of the value of the vehicle? And if so, do you care?

Most of us are aware the 3rd gen is extremely reliable and has a very solid engine you can rely on for the long-term, but sometimes if you have a huge to-do-list that ends up being half of the vehicle value or more, it still feels weird.

By comparison, $2k of parts/mods/whatever on a 2013 4runner would be 6% of the value.

 

[Lizard333]

I just paid 7K for my 98 limited 4x4. After a new set of tires, plugs, wires, new stereo, the timing belt and seals, a transmission cooler, new floor mats, ultra gauge, rack and pinon, and fixing a leak on my transfer case, I'm up to 4K.

Does it bother me. Nope. I've got a dependable and reliable vehicle. Period.

 

[MONTYMTB]

50% is pretty easy to get to, just in maintenance. In the past 12 months I've replaced LBJs, inner/outer TREs and radiator, and done the TBU. About to replace the shocks as well, and will be due for new timing belt and water pump before too long.
Do I care? Nope. I know where it's been and how it's been maintained, and I wouldn't hesitate for a second to hop in it and drive it across the country, even though it's about to flip 370,000 miles. I'll probably never sell it anyway - even if I buy another vehicle - so as far as I'm concerned the only value is what it's worth to me.

 

[amalik]

50% is pretty easy to get to, just in maintenance. In the past 12 months I've replaced lower LBJs, inner/outer TREs and radiator, and done the TBU. About to replace the shocks as well, and will be due for new timing belt and water pump before too long.
Do I care? Nope. I know where it's been and how it's been maintained, and I wouldn't hesitate for a second to hop in it and drive it across the country, even though it's about to flip 370,000 miles. I'll probably never sell it anyway - even if I buy another vehicle - so as far as I'm concerned the only value is what it's worth to me.

Whats tbu? Thats quite a good list.I resonate with much of your feelings... but have a lot less miles.

 

[amalik]

I just paid 7K for my 98 limited 4x4. After a new set of tires, plugs, wires, new stereo, the timing belt and seals, a transmission cooler, new floor mats, ultra gauge, rack and pinon, and fixing a leak on my transfer case, I'm up to 4K.

Does it bother me. Nope. I've got a dependable and reliable vehicle. Period.

7k is a little high even if it was in excellent condition. Did it have a supercharger and 7th injector for that price?

 

[MONTYMTB]

Whats tbu?

Tundra brake upgrade.

 

[Lizard333]

7k is a little high even if it was in excellent condition. Did it have a supercharger and 7th injector for that price?

That's what they are going for here in AZ. She has ZERO rust, and the interior is in great shape. I got the color I wanted, so I'm happy. This truck has lived in the desert it's whole life so with 144,000 miles I think I did ok. Averaged 9k miles a year.

Stock motor, no super charger.

 

[98WhiteT4R]

The way I looked at it when I bought mine (which I read on another thread) was to have a total price in mind. I think mine was 15k, for the price of the vehicle, mods and PM. Basically a total price to build the truck I wanted. Granted I'm close to my total and still want to keep modding! I'm also kind of anal when it come to PM so I've prob spent more on that then others have. I also plan on keeping my T4R for a loooong time and eventually just using it on the weekends so the money spent now is just to prolong it life IMO. I think myself and others on this site don't really care about (or think about) the money we spend as a negative but I could be wrong!

 

[MTD]

KBB is $6250 for mine, and I have $5k in mods when I include my RTT.

 

[LittleCaesar]

I for one will use my extra money earmarked for the 4runner on DIY maintenance first and foremost. Then comes a little modding.

Some mods, such as the SC, just are too much bank for me, even though I found one for the right price I would jump on it.

The scary thing is some repairs now on the 3rd gens with shop fees and extra can be as much as it books in value.

 

[White 4x4runner]

In the last 15k miles ive put about 3 grand into a 4500 dollar 4runner... I'm really kinda fed up with it breaking things but it is my fault for the abuse. Rebuilt trans blew the rear end replaced lbj's and had to do wheel bearings and seals in the replacement axle... And now... It's been parked for a month because ive got somethin else going on with the rear end... I'm just too fed up and pissed off with it to even take it apart and figure out what's going on.

I'm at the point of fixing the issue at hand and selling it... Hopefully I can get a **** that's on CL for cheap enough and still have money left to finish building my track/commuter car

 

[Kanger328]

I bought my '96 for $2,500 (I know...a steal). So far I've put in another $4,400 in maintenance and upgrades. I kinda feel dumb b/c I feel like I should have a way crazier setup for the amount of dough I put into it. Oh well.

The way I see it, as long as the engine and tranny are good...upgrade away. The money that goes into ROUTINE maintenance and upgrades will still be lower than buying a newer vehicle. Any major engine issues (heads cracked, etc.) or tranny issues and I'd ditch mine...luckily none...so far.

 

[MojaveMadMan]

IMO you missed one thing. The 3rd gen's are basically bottomed out, so you can expect that the value will pritty much stay stable from this point on plus/minus a couple hundred bucks. But the newer rigs are going to drop as they get older. I mean, if you have a $4K 3rd gen and you add $4k worth of parts to it, you can probably re-coup a lot of that depending on what parts. So your $8K investment will probably re-sale for close to $7K, which is not bad. If you paid $40K for a new one, and add $4K worth of parts, your not gunna be able to sell it for anywhere close to that. After a few years you would be lucky to get $30K... I think we are in a good spot.

Plus keep in mind the monthy costs. It is a lot cheaper to own, opperate and maintain a 3rd gen, even with the maintenance that is coming up due, than to pay the $350+ car payment for a new one. That doesn't even account for insurance costs, maintenance on the newer ones when it comes due, and all that stuff...

 

[MtnChick]

IMO you missed one thing. The 3rd gen's are basically bottomed out, so you can expect that the value will pritty much stay stable from this point on plus/minus a couple hundred bucks. But the newer rigs are going to drop as they get older. I mean, if you have a $4K 3rd gen and you add $4k worth of parts to it, you can probably re-coup a lot of that depending on what parts. So your $8K investment will probably re-sale for close to $7K, which is not bad. If you paid $40K for a new one, and add $4K worth of parts, your not gunna be able to sell it for anywhere close to that. After a few years you would be lucky to get $30K... I think we are in a good spot.

Plus keep in mind the monthy costs. It is a lot cheaper to own, opperate and maintain a 3rd gen, even with the maintenance that is coming up due, than to pay the $350+ car payment for a new one. That doesn't even account for insurance costs, maintenance on the newer ones when it comes due, and all that stuff...

Exactly. I drive a LOT, and look at it on a cost per mile basis. Even with some repairs, compared to our new Tundra 3rd gens are CHEAP!!

 

[Lizard333]

I actually traded my 2011 Limited 4WD Ford Explorer, 46,000 retail, for my 1998 4Runner. I had all the bells and whistles Explorer, but was not happy with the 600 + monthly payment and the higher insurance. With what I was making in payments on Explorer, I was able to buy a 4Runner every year. Now, I have no more payments, my insurance is less, and I believe I have a better vehicle thats a better 4WD and more reliable.

 

[4yotaguy]

I think about this a lot, mainly because I am gearing up for a build and I am trying to justify the expense to my responsible self (much smaller version of my true self).

Owning a new car here in CT also means waaaaay higher property tax (paid annually) and insurance. Before I turned in my 11' 335 xi (worked for BMW) I paid a fortune in insurance and at least $600 annually in property tax. I save on all that with the 4runner.

Really though, as everyone said, I plan to keep my 4run forever and all I try to do is make sure I cover all the basic maintenance needs prior to spending money on the wants....No dealer uses KBB anyway, its worse than that, they use Galves or NADA....

 

[98OzarksRunner]

What you are buying (besides status, and in our case, off-road fun) is mileage. Even if you put another $4000 in it (between now and 300,000 miles), you will get another 100,000 miles out of it for $.08 per mile. A new 4Runner (at $38,000) will also go 300,000 miles, but it will cost you $.13 a mile (plus repair costs,which probably will bring it up to $.14 per mile). So, driving a 17-year-old 4Runner (except for status) is $5,000 cheaper for that last 100,000 miles than a new 4Runner. Drive the one you have and bankroll the $5,000.

Every time I start thinking how much I'd love a new Tacoma, I do the math and realize there is no way I can drive a new Tacoma for anywhere near what my 2002 4Runner is costing me. I figure there's another 125,000 miles in mine, though I'm likely to give in to 'Tacoma fever' before I get there.:doh:

 

[Grgg1978]

I bought my '99 for $1200 from my brother, I've done regular some maintenance, timing belt, new clutch and throw out bearing, and now have to do the rear bearings and seals. I've also done some mods like the breather mod and tundra brakes. It only has 145,500 miles on it and running strong. I could never see myself selling it cuz you can't find a more capable 4door SUV with a manual anymore. I would spend way more than blue book on mods and maintenance to keep it running...

 

[4rever]

New member and owner recently purchased 2nd and 3rd gen I agree that the dependability is worth it. Hoping to get some responses to my post about rear gate, no key and don't know how to open or fix

 

[Ruff]

Many many many moons ago, I had a maxima that reached 170,000 miles.

However, when it reached 170K it started having a lot of issues...starter, alternator, water pump, radiator, etc. One issue after another every 2 or 3 weeks. I even had to tow it to the mechanic a couple of times.

He was a guy my family had known for a long time and I always trusted what he said.

The last time I took the car to him he told me..."Get rid of your current car when your car repair bills exceeds the cost of car payments. Keep bringing this car to me and I will make enough money to retire. The car is old and needs to be retired." Made sense.

I paid off my 4R in 2008. The cost of maintenance (tires, batteries, oil changes, spark plugs, etc.) and repairs (gaskets, water pump, etc.) for any year since I've had it has never surpassed 3K. I love not having a car payment. Heck yes, it is cheaper to keep it.


Ruff