I just reached the 10 year mark with my 2004 LC (purchased used in March of 2007), and wanted to share my experience on total cost of ownership. I’ll focus only on depreciation, maintenance, and repairs. I’ve kept it bone stock, with the exception of replacing the crap OEM speakers, and it’s in excellent condition (body in great shape, near perfect leather, etc. – put $1,600 into a body “clean-up” around 5 years ago to address accumulated pin stripes, dings, etc). Also, I replaced the original tires with OEM Bridgestone Duelers (before I discovered MUD), but soon realized those were crap, and went to Michelin MS and then Michelin AT2s.
Here are the basics, with all maintenance performed by ToyOnly in Atlanta or World Toyota in Atlanta (only when absolutely necessary due to scheduling, etc.), as I don’t have the tools, time, or ability to do much of anything myself:
Purchase Price = $35,000
Current Value = $10,000 (reasonable minds may differ, but an easy number)
Miles at Purchase = 43,992
Current Miles = 220,311 (17,600 per year)
Total Repairs & Maintenance = $20,462 ($2,046 per year)
Total Repairs, Maintenance & Depreciation = $45,462 ($4,546 per year)
Other than the body work referenced in the intro, includes 2 windshields; 3 timing belts with the first at 60,000, second at 120,000, and third at 210,000; new radiator at 220,000; valve cover gaskets and power steering pump at 218,000, front brake rotors at 215,000; heater hose Ts at 205,000 when they failed (no lectures, please); new gas cap at 200,000; hood struts at 150,000; and new key and transponder at 132,000 (yeah, I know – recently purchased YotaMD keys and very pleased).
I recently considered purchasing a used 200 series or a new 4Runner and giving my LC to my 16 year old, but just couldn’t bring myself to pull the trigger. My LC still runs like a champ, looks great, and while I like the new 4Runner, I can’t live without my v8, and need my 3rd row with 3 kids. As for the 200 series, I’d love to have one, but I’m very pleased with the 100, it’s obviously paid for, and I just don’t see the need to spend the additional money. Besides, keeping it is my way of thumbing my nose at our consumer obsessed culture!
Here are the basics, with all maintenance performed by ToyOnly in Atlanta or World Toyota in Atlanta (only when absolutely necessary due to scheduling, etc.), as I don’t have the tools, time, or ability to do much of anything myself:
Purchase Price = $35,000
Current Value = $10,000 (reasonable minds may differ, but an easy number)
Miles at Purchase = 43,992
Current Miles = 220,311 (17,600 per year)
Total Repairs & Maintenance = $20,462 ($2,046 per year)
Total Repairs, Maintenance & Depreciation = $45,462 ($4,546 per year)
Other than the body work referenced in the intro, includes 2 windshields; 3 timing belts with the first at 60,000, second at 120,000, and third at 210,000; new radiator at 220,000; valve cover gaskets and power steering pump at 218,000, front brake rotors at 215,000; heater hose Ts at 205,000 when they failed (no lectures, please); new gas cap at 200,000; hood struts at 150,000; and new key and transponder at 132,000 (yeah, I know – recently purchased YotaMD keys and very pleased).
I recently considered purchasing a used 200 series or a new 4Runner and giving my LC to my 16 year old, but just couldn’t bring myself to pull the trigger. My LC still runs like a champ, looks great, and while I like the new 4Runner, I can’t live without my v8, and need my 3rd row with 3 kids. As for the 200 series, I’d love to have one, but I’m very pleased with the 100, it’s obviously paid for, and I just don’t see the need to spend the additional money. Besides, keeping it is my way of thumbing my nose at our consumer obsessed culture!
