Buying 300k+ 4Runners

[akaye]

Hello everyone,

Wanted to speak in generality about a 3rd gen that's for sale, hoping to get some further insight from you all!

Here's the scenario:

3rd gen 4Runner (pre-2000). E-locked, 4wd, auto, single owner, original engine/trans, impeccable routine maintenance records, good amount of upgrades over the years and preventative maintenance, comes with some extra parts, couple inches lift, newer tires, etc etc etc. Looks nice, the owner definitely has taken care of it. Almost 320k miles and asking just under $10k.

Is this still around the going rate for 4Runner like this with this high of mileage? I've learned a lot from this forum and my own research, I'm just having a little of a hard time justifying the cost/mileage ratio here in my own mind.

Curious to know what you think of this scenario to further inform my upcoming purchase of a 3rd gen and of the T4R world in general!

Thanks a lot.

 

[T4R2014]

If it had a supercharger I could understand, but 10k for a 300k mile single owner truck is still too much. If it had 100k that would be a good deal. At 300k the engine or trans could go tomorrow without any notice.

Babying a truck to that mileage is cool when you are the original owner. Taking it over from the previous owner is a different story. I'd set aside a solid 2k in case the engine or trans goes. When either one does you'd might as well replace both. Diffs will be worn at the mileage no matter how much you believe in Amsoil.

If it really is pristine, 4.5k at best.

 

[umidkusername]

I must be in the minority. No way that would be my daily driver and I also wouldn’t take it on any trail.

I would literally have to swap the engine for a peace of mind. For that price I might as well get something else.


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[spartacus]

I will take a well maintained truck, one owner with 300k + miles over a 200k poorly maintained 4 owner truck. Negotiate the price but if it drives good sounds good and has no rust. I wouldn't worry about the miles too much. Get pré buy inspection done by a good shop.

 

[biratley]

Offer $2500


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[4Reak Show]

Price/cost is different than value. So yeah, the price may seem a bit high overall, but the value to me justifies it. 320k? So what. If it’s documented well maintained it could be as good as day one. Set aside a little emergency money and roll with it. The 3.4 is in my opinion a historic engine. And the 3rd gen is in my opinion the best all around 4Runner. You’ll have the ideal platform. ANY used cars engine or transmission could blow at any time. Higher mileage does mean it’s more likely, but given the info you described, seems right to me. If it’s what you want, then the value will outweigh the price every day of the week to me.

My 1995 has a junkyard 3.4 with a total of like 150K on the engine as of now, entire truck is at 255K and I would get in right now and drive coast to coast without question. Everything can break down. But some stuff is just least likely. Rust free, documented maintenance, one honest owner, options you want, a vehicle getting rarer and rarer everyday... pull the trigger and have fun.

 

[akaye]

If it had a supercharger I could understand, but 10k for a 300k mile single owner truck is still too much. If it had 100k that would be a good deal. At 300k the engine or trans could go tomorrow without any notice.

Babying a truck to that mileage is cool when you are the original owner. Taking it over from the previous owner is a different story. I'd set aside a solid 2k in case the engine or trans goes. When either one does you'd might as well replace both. Diffs will be worn at the mileage no matter how much you believe in Amsoil.

If it really is pristine, 4.5k at best.

Yeah I hear you, setting aside the 2k seems like it would be a smart move. I wish $4.5k would get me one of these nowadays but it seems like any 4x4 3rd gen out there in good condition is going between 7-10k unless you get some lucky break on one.

 

[akaye]

I will take a well maintained truck, one owner with 300k + miles over a 200k poorly maintained 4 owner truck. Negotiate the price but if it drives good sounds good and has no rust. I wouldn't worry about the miles too much. Get pré buy inspection done by a good shop.

I would still have to offer some amount less than what they're asking because of my own finance situation, but I think I'm with you on this one. Thanks for the insight!

 

[akaye]

Price/cost is different than value. So yeah, the price may seem a bit high overall, but the value to me justifies it. 320k? So what. If it’s documented well maintained it could be as good as day one. Set aside a little emergency money and roll with it. The 3.4 is in my opinion a historic engine. And the 3rd gen is in my opinion the best all around 4Runner. You’ll have the ideal platform. ANY used cars engine or transmission could blow at any time. Higher mileage does mean it’s more likely, but given the info you described, seems right to me. If it’s what you want, then the value will outweigh the price every day of the week to me.

My 1995 has a junkyard 3.4 with a total of like 150K on the engine as of now, entire truck is at 255K and I would get in right now and drive coast to coast without question. Everything can break down. But some stuff is just least likely. Rust free, documented maintenance, one honest owner, options you want, a vehicle getting rarer and rarer everyday... pull the trigger and have fun.

Yeah I understand where you're comin from. I guess one of my other concerns is how am I ever going to resell this one day if it has 400k miles on it, right? I mean who would ever buy a used car with 400k for even $5k or am I wrong on that in the 4Runner world? I guess if it has the rear lock and 3.4L I could prob always get it sold to someone who wants an off-road project maybe?

 

[4RunnerAquasport]

IN my opinion a well maintained 1 owner 3rd gen is like a bar of gold. The decrease in value of the dollar recently, keeps these trucks in seemingly high value. Toyota's can almost be considered a hedge. We saw this same type of scenario back in the recession of 89', the value of classic muscle cars went through roof. Not quite the same with a 4Runner, but similar.

Do the diligence, compression check, smell the oil and tranny fluid, drop some coolant out of the bottom of the rad and look for residue under cap. Check everything twice. How recent was the T-belt changed, look for residue of coolant around the pump and timing cover, valve cover leaks, etc. Is the hvac working well or just OK. Crawl underneath it with a screw driver and poke the frame for rust as well.

Don't just drive it around the block, DRIVE it. Get it warmed up for 20 minutes, rev it up in park and hold the revs up and fluctuate between 2k and 2.5k rpms for several seconds. Then put your foot on the brake, put it in drive and give it some gas and hold the revs at 1500 this time, see how it responds to this. Keep an eye on the temps through all of these tests. The engine will talk to you if there is a problem. You'll hear odd noises if there is any internal problems. If the owner has an issue with any of this? Move on.

Used car dealers hate me......that excuse they use about gas being almost empty? That's cool, let's go put a couple gallons in. I'm gonna TEST DRIVE this thing.

 

[Scubarookie]

If it's a keeper then maybe...

These 3rd gens are becoming rarer than ever in good condition, especially in the rust-free department! With everything going on in the world today it seems; escape, would be nice... However breaking down is the middle of nowhere is probably the reason for the rise in asking price for one of the most reliable vehicles ever built. That too is dependent on care and maintenance! If your planning on just using for trend sake, save your money and buy something else. However, if you plan on keeping this 10k valued 3rd gen, then that's entirely up to you. Where are you located? Maintenance may be one of the biggest expenses with 3rd gens, if your in the rustbelt parts of the country. If it had a 5speed along with everything else... I would buy it!

 

[4Reak Show]

Yeah I understand where you're comin from. I guess one of my other concerns is how am I ever going to resell this one day if it has 400k miles on it, right? I mean who would ever buy a used car with 400k for even $5k or am I wrong on that in the 4Runner world? I guess if it has the rear lock and 3.4L I could prob always get it sold to someone who wants an off-road project maybe?

So this is where you lose me. I keep things forever once I’m invested, either emotionally or financially. So the whole “what about reselling it someday” never crosses my mind. If you want it as an investment, then it probably isn’t gonna work out. But if you want a highly reliable, fun, capable, easily repaired/maintained vehicle with parts still available, this isn’t a terrible choice. (Of course it needs a thorough inspection as stated above. Don’t just take one’s word for it).

That all being said, you could get your money back to the right buyer. Using my 1995 as an example, I recently added up all the money I’ve spent on it over the last 17 years, and it’s a stupid amount, like $14,000 in add ons or something. I’ll never get that back. BUT, to the right person, knowing what it is and what went into it, would probably be willing to pay around 7-9K I’d guess. Again, gotta be the just right person. Of course I’ll never sell it but you get the idea. Cost vs value.

 

[akaye]

IN my opinion a well maintained 1 owner 3rd gen is like a bar of gold. The decrease in value of the dollar recently, keeps these trucks in seemingly high value. Toyota's can almost be considered a hedge. We saw this same type of scenario back in the recession of 89', the value of classic muscle cars went through roof. Not quite the same with a 4Runner, but similar.

Do the diligence, compression check, smell the oil and tranny fluid, drop some coolant out of the bottom of the rad and look for residue under cap. Check everything twice. How recent was the T-belt changed, look for residue of coolant around the pump and timing cover, valve cover leaks, etc. Is the hvac working well or just OK. Crawl underneath it with a screw driver and poke the frame for rust as well.

Don't just drive it around the block, DRIVE it. Get it warmed up for 20 minutes, rev it up in park and hold the revs up and fluctuate between 2k and 2.5k rpms for several seconds. Then put your foot on the brake, put it in drive and give it some gas and hold the revs at 1500 this time, see how it responds to this. Keep an eye on the temps through all of these tests. The engine will talk to you if there is a problem. You'll hear odd noises if there is any internal problems. If the owner has an issue with any of this? Move on.

Used car dealers hate me......that excuse they use about gas being almost empty? That's cool, let's go put a couple gallons in. I'm gonna TEST DRIVE this thing.

This is all great info, thanks a lot. I don't understand this tip though "drop some coolant out of the bottom of the rad and look for residue under cap" - are those two separate things are part of the same test? Sorry for the ignorance!

 

[akaye]

These 3rd gens are becoming rarer than ever in good condition, especially in the rust-free department! With everything going on in the world today it seems; escape, would be nice... However breaking down is the middle of nowhere is probably the reason for the rise in asking price for one of the most reliable vehicles ever built. That too is dependent on care and maintenance! If your planning on just using for trend sake, save your money and buy something else. However, if you plan on keeping this 10k valued 3rd gen, then that's entirely up to you. Where are you located? Maintenance may be one of the biggest expenses with 3rd gens, if your in the rustbelt parts of the country. If it had a 5speed along with everything else... I would buy it!

I'll be driving it mostly in southern california, occasional trips to the northern snowy states, but hopefully very rare trips to the east of the country.

 

[akaye]

So this is where you lose me. I keep things forever once I’m invested, either emotionally or financially. So the whole “what about reselling it someday” never crosses my mind. If you want it as an investment, then it probably isn’t gonna work out. But if you want a highly reliable, fun, capable, easily repaired/maintained vehicle with parts still available, this isn’t a terrible choice. (Of course it needs a thorough inspection as stated above. Don’t just take one’s word for it).

That all being said, you could get your money back to the right buyer. Using my 1995 as an example, I recently added up all the money I’ve spent on it over the last 17 years, and it’s a stupid amount, like $14,000 in add ons or something. I’ll never get that back. BUT, to the right person, knowing what it is and what went into it, would probably be willing to pay around 7-9K I’d guess. Again, gotta be the just right person. Of course I’ll never sell it but you get the idea. Cost vs value.

Oh, I'm definitely the same way. I like to buy quality things ONCE, and maintain them while enjoying having the best of the best along the way. However I am a freelance sound artist and engineer, so moving out of the country temporarily or permanently is never *too* far out of the realm of possibility. I don't see a reason I would ever sell the 4runner I get if I am in the US. I'm just trying to weight how much I would lose my hat If I bought this and *had* to sell it in a few years. Just don't want to lose like 6 grand on that move or something insane. Also being a freelance artist my margins are unbelievably small so every single move I make that is a financial choice has to be made pretty carefully and without much room for error.

 

[4RunnerAquasport]

This is all great info, thanks a lot. I don't understand this tip though "drop some coolant out of the bottom of the rad and look for residue under cap" - are those two separate things are part of the same test? Sorry for the ignorance!

No worries.
It involves opening the valve at the bottom of the radiator. Do this when the engine is cool, and just open it for a second and let it drain into a cup. It just gives you an idea what the coolant looks like at the bottom of the radiator and under the cap at the top.
If maintenance has been done properly, the rad is most likely fine. But, the coolant tank for the trans fluid can crack, mixing the 2 fluids, resulting in the pink milkshake syndrome. That's why inspecting all fluids before and after a test drive is important on a vehicle w this much mileage.

 

[T4R2014]

Lol, if I was selling a car and someone asked me if they could drain the coolant from the radiator I would probably tell them to screw off. Maybe if the guy was paying a shop to do a PPI then I'd be willing to allow that since he's probably serious. Just being realistic after having dealt with selling used cars. Plenty of characters out there that will do anything to get a quick deal.

 

[Jubsz]

Lol, if I was selling a car and someone asked me if they could drain the coolant from the radiator I would probably tell them to screw off. Maybe if the guy was paying a shop to do a PPI then I'd be willing to allow that since he's probably serious. Just being realistic after having dealt with selling used cars. Plenty of characters out there that will do anything to get a quick deal.

Agreed. This question is a matter of your risk tolerance. It's old and has a bunch of miles. I've put more into my 3rd gen than I ever intended to but it's a great truck. On this whole radiator/trans thing, I suggest opening the radiator cap, when cold, and pulling the trans dip stick. Look for any evidence of a mix of the two. When I was looking, I was also reading maintenance records and if I saw a radiator replaced, coolant flushed, trans flushed in the same service, that meant that it had a pink milkshake in its past. I was not interested in buying that vehicle unless it was priced well enough that I could replace the trans.

To the OP, these things have been documented as stupidly reliable. The 3rd gen 4runner/1st tacoma platform are arguably one of the most reliable consumer vehicles ever produced. There are a few common things that I've seen lead them to the junkyard, outside of normal accidents.

1. Rust - Rust eats frames and they break. Do not buy one with bad bones.
2. Pink Milkshake - Seal between trans cooler and cooling system (in radiator) breaks, mixing coolant in the trans. The water is nearly impossible to truly flush out of the trans and leads to an early death. Depressurization of the cooling system and trans fluid in it can also lead to overheating which means head gaskets. Search adding a separate trans cooler on this forum.
3. Front lower ball joints - Search this issue. Front lower ball joints break after 150-200k miles and cause an accident leading to suspension/body damage. Replace these with OEM as a maintenance item at your desired interval (150-200k?) and you should be ok.
4. Head gaskets or hairline cracks in the heads - This is not uncommon in these vehicles at 200k+ miles. It is not an inevitable issue like it was with the 3.0. There are plenty with way more miles that have not had it happen but it does happen.

Other than those things, they're still old and high mileage. Stuff happens. There are other common but non terminal issues to look out for (rear axle seals, leaky valve cover gaskets, etc.). They're still pretty darn reliable overall. They're easy to work on and parts are abundant. When you go to resell, I think they will continue to be desirable. It will take longer to sell than a 5 y/o vehicle with an obvious market value but you should be able to sell it without too much hassle I'd think. It is a niche market and you won't be able to trade it into CarMax for a price you'd like.

 

[T4R2014]

I would set aside $1000 per year in an unexpected repair when dailying a 3rd gen. As braggadocious as we are about these trucks, they are aging. If it really is pristine, then try to negotiate the hell out of this. These trucks hit rock bottom in pricing nearly a decade ago and appraising them is now a blur. Being a west coast vehicle the metal will likely be very good on it.

 

[ElectroBoy]

You’re getting some good advice in these posts. The price sounds high. I sold my pristine 2000 3 years ago @239K miles for $4500. It was stock with all records, well maintained, and I replaced lots of items before they failed. Talk to the owner and look for evidence of replacing radiator, water pump, thermostat, plug wires, belts, no rust, regular fluid changes, lower ball joints, etc. If these haven’t been done they need to be, and you should factor that into your offer price.
And that yearly budget of $1000 is reasonable for preventative maintenance. You’ll need tires about every 5 years.