Would you buy this 2005 V8?

[PJP71]

I'm no stranger to breathing new life into cars and trucks. I knew this one would need some work, but was thinking I could turn it into a pretty nice 4th gen with a little cash and a lot of sweat equity. I can get it for $4500.

I went and test drove it recently. 1st 4th gen I've ever driven. Seemed fine for the most part. I was expecting better acceleration but that may be due to the weight of the factory 20s and larger than original tires which rubbed a bit when turning. The ABS, VSC, traction control lights are on, which from what i've gathered is a faulty brake light switch. Other things of note are: It was a one owner until seller purchased from his boss with the intention of building it up but changed his mind as he has 3 other vehicles. 175k miles and needs a timing belt. Looks like it lived outside most of its life as the hood and roof have failed clearcoat and feel like sand paper. Fender flares could use some paint too. Could get away with that but could use a whole paint job. Leather is in pretty good shape with no rips or tears but carpet needs replacing. Headlight housings are cracked from sun exposure. Sunroof has been silicone sealed shut and "doesn't leak". Dash is cracked. No rust other than surface in 2 spots where the carpet was worn through.

My plan would be:
Brake light switch $30
Coverlay vinyl dash cover $170
Carpet replacement $250
Sell factory 20s and get 17s with 275 70s $1700
Fix sunroof $0-?
Have at least hood, roof and fender flares professionally painted $500
Lift $500ish

So around $7500- $8k

What do you guys think?

 

[Atlanta_man]

The sunroof could be a $2K surprise, sounds like a $3500 4Runner and that much only IF it is 4WD

 

[villaphoto]

The sunroof could be a $2K surprise, sounds like a $3500 4Runner and that much only IF it is 4WD

If you can find the sunroof assembly for a reasonable price, the job itself isn't that bad. I just did it myself with relative ease. I picked up the sunroof for $150 and if you follow the TSB it's not too bad of a job.

That being said, I agree $3000-3500 is the most I'd pay for that thing.

 

[PJP71]

The sunroof could be a $2K surprise, sounds like a $3500 4Runner and that much only IF it is 4WD

Yes it is a 4WD

If you can find the sunroof assembly for a reasonable price, the job itself isn't that bad. I just did it myself with relative ease. I picked up the sunroof for $150 and if you follow the TSB it's not too bad of a job.

That being said, I agree $3000-3500 is the most I'd pay for that thing.

I initially walked after seeing the hood and roof were beyond minor clearcoat issues, the headlights needed replacing instead of buffing, carpet needed replacing and state of the sunroof.

Thanks for the replies guys. Good confirmation that I should probably just be patient and save some more instead of getting a fixer upper.

 

[Bumbo]

Make sure it actually switches into 4WD high and low, along with the center TC lock is functional... fixing those things can be costly.

There are also more than one thing that can cause ABS, VSC lights to come in in these trucks... almost an annoying multitude of things including ABS sensor, zero point calibration which is an easy fix to name a couple.

I would take a code scanner with you next time to see if anything pops up.

 

[Morphyne]

Hey let me know if you actually buy this. I bought a brake switch and didn't need

 

[MSRP.]

for the carpets, you are probably better served to repair the rust and slap on some weathertech floormats. More practical, and "out of sight, out of mind"

My carpet is fine but I also haven't seen it since the second day of ownership since the weathertech/husky mats went in.

 

[kieljon]

I don't know... I bought a 2003 for $5,000 that was in much better shape, and I've already put $2,500 back into her. I'm still pleased with it, but you just tallied up $2,500+ of stuff you *know* you're going to repair. The minute something else major surprises you, it's no longer worth it.

 

[Atlanta_man]

That's also about the mileage where, on the V8, the pollution blower motors blade failure/sticky valves fail. At very high cost.