2002 LC100 with 136k: what's a fair price?

I've been looking for a vehicle to take me out to BLM land and mountains around Boise, ID, and decided that the LC100 would be a good fit. I test drove a '02 LC with 136k miles yesterday and thought it was in pretty decent shape, but since I'm new to older cars I wanted to hear some opinions.

Seller says she bought it 2 weeks ago for her teenage daughter because it's 4WD and well-built, but her daughter thinks it's too big, so now they're getting rid of it to get a Jeep. Asking price is $17.9k.

Pictures by seller
Pictures I took of undercarriage and interior

The good:

• Low miles
• Toyota dealer serviced up to 2014 and 100k miles
• TB kit replaced at 95k in 2011
• Interior is in very good shape
• Fresh oil

The bad:

• Pulls to the right on the highway (probably needs an alignment)
• Undercarriage kinda rusty toward the front
• Front of rear left wheel arch is cracked (rust damage?)
• Seller had it inspected by Meineke on 1/6/23 and the report lists the following issues:
  • Front/back shocks worn
  • CV axle leaking, axle boot cracked
  • Steering stabilizer worn
  • Steering rack leaking
  • Exhaust manifold damaged

I don't know how concerned I should be with the inspection report. Are these issues considered normal for a vehicle of its age, and does anything need immediate attention? Would it be a good deal at $15k? Thanks!

 

[AlpineAccess]

Hard pass. Meineke is terrible btw. There is no steering stabilizer - the rack is probably bad. The exhaust manifold is cracked and they usually both are. Those two jobs right there are $2k to have someone else do with good parts.

CV axles if leaking are fine but if theyve leaked a long time they are $450+ install and it's involved. Shocks are cheap and easy. Pulling is probably because they hit something, is related to the rack, or something is worn out like ball joints/bushings/etc.

Has timing belt and anything else been done for higher mileage? Honestly it sounds seriously neglected.

for $17k you can get an enthusiast owned and maintained vehicle. It will be higher mileage but miles don't matter, maintenance does.

 

[zy5716]

Hard pass. Meineke is terrible btw. There is no steering stabilizer - the rack is probably bad. The exhaust manifold is cracked and they usually both are. Those two jobs right there are $2k to have someone else do with good parts.

CV axles if leaking are fine but if theyve leaked a long time they are $450+ install and it's involved. Shocks are cheap and easy. Pulling is probably because they hit something, is related to the rack, or something is worn out like ball joints/bushings/etc.

Has timing belt and anything else been done for higher mileage? Honestly it sounds seriously neglected.

for $17k you can get an enthusiast owned and maintained vehicle. It will be higher mileage but miles don't matter, maintenance does.

Thanks for the detailed advice. At least seller was being honest by letting me read the inspection report. Sounds like I avoided a money pit!

 

[BullElk]

Too high to me and I would say low mileage is not neccessarily a "good"

 

[nissanh]

Thanks for the detailed advice. At least seller was being honest by letting me read the inspection report. Sounds like I avoided a money pit!

RUST! unfortunately this low mile truck with such a good interior will end it's life very soon. I would not trust a seller who is trying to sell you something especially a CAR! They are good authors with good stories!

 

[stonepa]

Around here that LC in that condition would be near to $5000 to 7500. May be worth it at that price for a fairly cheap offroad weekend vehicle. But $17,900? That’s high even it this were mint.

 

[zy5716]

Around here that LC in that condition would be near to $5000 to 7500. May be worth it at that price for a fairly cheap offroad weekend vehicle. But $17,900? That’s high even it this were mint.

Seller claims to have received a dealer trade-in offer of $14k. If that was true, sounds like she probably should take that offer and get rid of this cruiser ASAP

 

[3_puppies]

kinda wondering what the seller bought it for 2 weeks ago?

 

[jLB]

In my part of the country, the body rust is a turn-off, and reduces the value (to me) substantially under the asking price.

 

[zy5716]

kinda wondering what the seller bought it for 2 weeks ago?

I googled the VIN and found a cached listing at a local dealer for $19,950.

 

[97 AZ LC]

I googled the VIN and found a cached listing at a local dealer for $19,950.

How long ago? "I bought it for my daughter but she doesn't like it" is almost always a flipper.

 

[dubdub20003]

How long ago? "I bought it for my daughter but she doesn't like it" is almost always a flipper.

Or someone realizing how bad a purchase they made.

just buy a ticket to phoenix and buy one there and live a rust free life… and boast about it being rust free when you want to sell it in a few years, this rust will only get worse.

 

[dubdub20003]

Second edit… just fly to Dallas and buy the white one. the difference in rust will be worth many thousands in saved labor over the years!!!!