Advice Before Purchase of 02 SR5

NCarolinaT4R

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Hi all. I've been lurking for a while as I hunt for a T4R, but now that I'm getting serious about one in particular I wanted to join to get some advise on the purchase.

2002 Toyota 4Runner SR5 2WD 6cly
Above is the Craigslist ad to the truck. It speaks for itself. It's a 2002 SR5 2WD with 186k miles. As stated in the ad, the owner has a big fat folder full of maintenance records dating back to his wife's purchase of the vehicle as a Toyota Certified Used car just before it reached 20k miles.

Went and checked it out yesterday. Outside it's cherry. There's only one very small dimple in the hood less than the size of a dime and not deep at all. The paint is in amazing shape for a 2002 aside from a spot above the driver's door handle and a spot near the rear. Both look like they can be buffed as they're more "on" the paint that in it or deep marks. The interior is in outstanding shape as well. No tears or cracks, original floor mats, even have the tonnea cover for the cargo area.

All electronics work, door locks, power windows, rear hatch window, CD player, power antenna, and the heat and air blow hot/cold respectively.

The biggest downside (outside of the engine bay) is the key tumbler in the rear hatch is loose in the hatch. A key can be inserted and turned, and the lock can be used, but it "floats" around in the gate. I assume this is simply a clip that can be replaced by taking the inner skin off the hatch from the inside and replacing. (Can anyone confirm?)

Now for the bad...

The engine has 186k miles on it, which I know is no where near done (or even cause for worry) in a 3rd Gen T4R with the 3.4L. However, the last time the timing belt/water pump was changed was 88k miles, so it's all but due for that. The undercarriage is clean and dry as a bone. No major leaks UNDER the engine/transmission, no signs of "strawberry milkshake" in the radiator or overflow reservoir, all fluids are as they should be, rear end and wheel housing (read: wheel cylinder/bearings) dry as well. However, there is some "gunky buildup" around the rear of the passenger side valve cover and noticeable leakage onto the exhaust manifold, though slight. When you run your fingers along the valve cover gasket in this area you draw back wet oil. (pictures attached)

Given this, I think it's safe to assume it's going to need a timing belt kit and valve cover gaskets replaced very soon. I called my regular mechanic and he quoted me $850-950 to do this all in one trip. Sound reasonable?

The lowest the owner would go is $5,800 cash. I feel if I can get it for $5,500 or preferably closer to $5,200 I'd feel a lot better about it. Thoughts on that?

I apologize for the long post. I wanted to be as thorough as possible.

My ultimate questions are:
1) What are your thoughts on value cover situation?
2) Is there anything else I should be looking for/should worry about?
3) Thoughts on the price?
 

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One other question...

According to the owner this truck has never had keyless entry. However, I've read on this forum (and in 2002 dealer brochures uploaded to the internet) that keyless entry should have been standard on 2002 SR5's.

http://www.toyota-4runner.org/3rd-gen-t4rs/65808-do-i-can-i-have-factory-keyless-entry-3.html

I have read this entire thread (specifically posts #26 and #37) but am still not 100% clear... If this 2002 has the module pictured in post #26 then it has the option for keyless entry, right? Was that the final decision? Can anyone confirm?
 
I just bought a 2002 SR5 4x4 a couple months ago for $6300, well $6700 after tag and taxes. It had 185k and maintenance records back to 30k miles. Timing belt is still 15k from needing replaced. It did need the valve covers done though. I w tired of smelling oil burning every now and then. Parts from camelback toyota were $120. I have all the part numbers if you were to need them. Plus I put new NGK plugs and wires on it $65. It's not extremely hard to do it just takes time. Make sure you use OEM parts. They just seem to hold up better IMO. If you let the guy do the work for you make sure and have him replace the water pump also during the timing belt replacement.
 
I don't know how hard it is to find 4runners in your area, but that seems a bit steep for a 2wd. Here in Utah, you can't give 2wd away. I would think you can find a better deal or at the least talk him down a bit. Like I said though, your area might be higher cost then out here. Use the timing belt as a way to talk him down. If he doesn't budge, i would pass.

Just to put it in perspective, mine was just over 5k for a 97 4wd SR5 with 115k miles on it. Needed a new brake master cylinder and timing belt hadn't been done, but other than that it was in excellent shape.
 
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Link12, thanks for your input. The deal you got does seem comparable, except for the fact that you got a 4x4.

Run 4 Fun, at first I agreed with you that it did seem overpriced for a 2WD, but checking the comps on 2000-2002 4Runners in NC/SC it might be about average. I'm not sure if it's just me, but I feel like $6k-$6,500 is the going rate for them around here.

I actually looked up a lot of comparable 2000-02 4Runner's last night to see how this one was priced. Here's what I found:

2000 4RUnner LTD 2WD 142k $7200 leather, sunroof, timing belt has been done
2002 4Runner SR5 4WD 170k $7000 Sport, sunroof, replaced/new transmission
2000 4Runner SR5 2WD 200k $6800 sunroof, new brakes and speakers
2002 4Runner SR5 2WD 160k $6650 leather, sunroof
2002 4Runner SR5 2WD 186k $6500 <<<<< This is the green one I'm looking at.
2001 4Runner LTD 4WD 175k $6500 leather, sunroof, heated seats
2000 4Runner LTD 4WD 180k $6500 leather, sunroof, DVD/navigation
2000 4Runner LTD 2WD 238k $6300 leather, sunroof, aftermarket roof rack
2000 4Runner LTD 2WD 227k $5900 leather, sunroof, keyless entry
2000 4Runner LTD 4WD 176k $5800 leather, has had valve cover gaskets done
2002 4Runner SR5 2WD 224k $5700 new tires
 
I just sold my mint 01 limited with 206k for 5500. All the major work done around 190k.

Sounds about right for the price.
 
Even though you said there is no sign of the milkshake I would change the radiator while changing the timing belt. I bought mine without any research and though it took almost a year the milkshake bit me. I have been quoted 3000 to rebuild the trans. Used trans can be bought on car-part.com anywhere from 600-1500 but mostly have quite a bit of miles on them and when you have them shipped they are drained so there is a chance the trans had milkshake in it. Better safe than sorry.
 
Link12, thanks for your input. The deal you got does seem comparable, except for the fact that you got a 4x4.

Run 4 Fun, at first I agreed with you that it did seem overpriced for a 2WD, but checking the comps on 2000-2002 4Runners in NC/SC it might be about average. I'm not sure if it's just me, but I feel like $6k-$6,500 is the going rate for them around here.

I actually looked up a lot of comparable 2000-02 4Runner's last night to see how this one was priced. Here's what I found:

2000 4RUnner LTD 2WD 142k $7200 leather, sunroof, timing belt has been done
2002 4Runner SR5 4WD 170k $7000 Sport, sunroof, replaced/new transmission
2000 4Runner SR5 2WD 200k $6800 sunroof, new brakes and speakers
2002 4Runner SR5 2WD 160k $6650 leather, sunroof
2002 4Runner SR5 2WD 186k $6500 <<<<< This is the green one I'm looking at.
2001 4Runner LTD 4WD 175k $6500 leather, sunroof, heated seats
2000 4Runner LTD 4WD 180k $6500 leather, sunroof, DVD/navigation
2000 4Runner LTD 2WD 238k $6300 leather, sunroof, aftermarket roof rack
2000 4Runner LTD 2WD 227k $5900 leather, sunroof, keyless entry
2000 4Runner LTD 4WD 176k $5800 leather, has had valve cover gaskets done
2002 4Runner SR5 2WD 224k $5700 new tires

In that case, seems like its a rather good deal being that he has all of the records. Good to know that it has been taken care of and still has a lot of life left in her.
 
Thanks for the continued input yall. I messaged several friends who are either shop managers for chain care care centers or mechanics to get their opinion on this truck last night. The ones who got back to me (3 of 4) agree with a couple of yall saying it's way over priced for what it needs and I shouldn't pay more than $4,500. I still feel like Toyota's add at least a few hundred (if not more) just because of them being Toyota's and people think it's worth paying a premium for their reputation. I'm still trying to decide which direction to go on this one, and my thoughts may continue to change by the hour, but right now I'm thinking I might offer the guy $5,000 and tell him that's because it needs close to $1,000 of work. If he's not interested, I'll let him know if he changes his mind he's got my number and keep hunting.
 
I partially agree, 4k, 4250 or walk, still to many miles for that premium. This is a price point only sale, be smart. Good luck!
 
[MENTION=119843]NCarolinaT4R[/MENTION]:

1) What are your thoughts on value cover situation?

I would consider pulling the valve cover and installing new gaskets at some point relatively soon. Not dire, but necessary.

2) Is there anything else I should be looking for/should worry about?

Look at the age of the radiator. Inspect all suspension/steering components. You already mentioned the timing belt/water pump situation and needing to be replaced. Run the truck and smell around.

3) Thoughts on the price?

Personally, I've got a 2002 SR5 and I'd hate to let it go for anything less than $6,000 but I've got a lot of sentimental value in it. Honestly, it seems like a slightly inflated price to be around $5,500-6,000 but that's what 4Runners go for in our areas. I always say, haggle the price low and expect somewhere in between.

There seems to be a lot of new faces on T4R.org since my last visit. Also, hey from over here in Virginia!
 

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