Possible Third Gen Purchase - Salvage Title

[danthemanx07]

I have a chance to pick up a 1998 4runner with about 300k miles from a member of my local Toyota club. Only catch is that he had a little fender bender with a tree and it was totaled by his insurance company. He can buy it back from the insurance company for $1,350. I wouldnt otherwise be interested, but it is a 5-speed with a rear locker - a very nice combo.

Damage is not that bad. Will need a hood, one head light, fender, grill, AC drier (and a recharge), and a bumper of some sorts (I would shoot for something for a winch anywhere so this doesnt matter to me really). I think I can pick up used parts for pretty cheap - maybe $500 for most of it. I can do the work for the installation.

BUT I am pretty sure that i will have to get a salvage title for it because it was totaled.

Am I on crack for even considering this?

 

[Kanoe]

If he’s going to let you have it for near the $1350 I think it’s a good risk. As long as it’s not rusted all out that is. You could make that parting it if you find it’s too badly damaged.

 

[Sarki]

If you do land up buying it I would invest a few $$ and have a shop with a frame machine confirm no damage or make some pulls if all is not in spec.
Impact with a tree can result in unexpected frame damage.
Manual with locker is a very sweet combo so I understand the temptation.
Hope it works out for you.

 

[theesotericone]

BUT I am pretty sure that i will have to get a salvage title for it because it was totaled.

Am I on crack for even considering this?

Yes, it will have a salvage title and nothing you do will ever change that.

If you are picking it up to try and flip it I'd pass or negotiate a lower buyout with his insurance.

If your picking it up to get it fixed and plan on keeping it I'd say it's worth it. These rigs can take a beating and replacing the quarter panel and hood is super easy. If the motor was maintained well 300k isn't that bad. It could easily go another 100k.

I'd still try and get a better buyout from his insurance though. It costs them money to get it moved, listed at auction, etc.

 

[nissanh]

I was about to say $1350 is too much but then saw 5 speed! Buy it and get the parts installed. Parts alone will cost like $350 from a salvage yard. Looks like AC is unharmed!

 

[thennen]

Also keep in mind that $1350 isn't the end of the world if it doen't turn out. Not like you'd be losing $10,000. To me it looks like opportunity knocking if you're up for the repairs and are planning to drive the wheels off of it. The exception would be bad rust. Best wishes!

 

[danthemanx07]

Flipping isnt my intention but keeping it forever isnt either. A later sale is the only thing about the salvage title that concerns me. I'd probably fix the hood, fender, and AC if necessary, and slap the 33" BFG Mudterrains I have sitting in my garage on it and wheel it as is while shopping around for some lift parts.

Even with the salvage title, I have a hard time believing that a locked 5-speed isnt worth $1,500 or so to someone who just wants to hit the trails with it. And if it isnt worth that all together, just a few parts are probably worth close to that I would think. The rear axle and wheels and tires might get me close.

Believe the runner has been a south Louisiana vehicle its whole life, so there shouldnt be any rust. That would be a deal breaker for me.

I am going to see if he can get a little knocked off. Will be going to look at it tomorrow or sunday.

 

[WeakSauz]

5 Speed with an elocker?

The 5-Speed swap parts and elocker swap parts ALONE on this truck are worth more than $1,350 market value

 

[danthemanx07]

5 Speed with an elocker?

The 5-Speed swap parts and elocker swap parts ALONE on this truck are worth more than $1,350 market value

My thoughts were along those lines. I paid more than that for the parts when I swapped my auto for a manual. Throw the tires and wheels (Tundra wheels) in, and I think I would be ok.