2004 LandCruiser - What should I Offer/Pay

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UncleBillyCA

UncleBillyCA

Liberty or Death
10 Year
Joined
Oct 3, 2013
Threads
1
Messages
44
Location
Southern CA
This Cruiser is at a local SoCal dealer and has been on the market for 3 weeks. They were asking $16,900 I went and took a test drive too check it out. Nice rig, clean on the inside, no complaints. Only exterior damage is some gouges on front bumper, who cares. Some peeling on the side molding, which is kinda weird... I'm guessing this can be replaced for not a lot of money?

It has 185,000 mi and most of the service was done at the Toyota dealership. It did have the 90,000mi timing-belt work done, but is due for another one. I told the dealer this and said I wouldn't pay this much, since it needs this work, which is like a $1500 job. They said they couldn't come down that much. Told them its not my fault their buyer paid too much

So yesterday they lowered the price too $15,600 so that's good...

So I'm thinking of offering them $14,000 out the door, what are your thoughts?

I'm guessing they won't go that low, but since finding a Cruiser that's magneto grey with grey interior is all I want and very hard to find, I guess I'd go up some, maybe $15,000 OTD...

ImageUploadedByTapatalk1401686566.760897.webp
 
I'd get it checked out by a mechanic. Run a compression test.

If the truck is mechanically solid and the colors you want I would get it, even if they hold firm at 15600.
 
Hello,
That is a really solid price for being at a Toyota dealership. While pricing is almost universally higher at a mainline dealer, they do tend to only keep the best as selling used dogs causes terrible pr. Unless you are selling VAG products when new or old they are mostly canines.

A PPI can never hurt. Being in CA, rust should not be an issue. Will be nice to have both a 5sp and Bluetooth for what many have paid for a 1999.
 
As a data point, I recently paid $18K for my '03 w/ 88k miles but it needs the 90k service done, and I've already put $1500 into it for new Michelin AT2's, new windshield, and baselining fluids. $15,600 seems like a good price for a rust free LC. I would take it at their asking price if they do the 2nd timing belt service. Not a fan of the wheels and can't tell if the tires are in need of replacement. Check for all vin tags to see if it's been in any accidents.
 
Hi -

I own a dealership and I sell a few LX's/LC's from time to time. They're awesome cars to sell because they have such a strong following even at 10-15 years old, but that cult-following also means the margins arent great. They usually turn over reliably, but not always quickly.

$15,600 is a great price for that truck, especially in Southern CA. As a reference point, I'm a CA dealer and I just sold a 2004 Pearl White LX470 with 115k miles to a guy in Chicago for $23600. That was after a huge discount and didnt include shipping.

Here's how I value the caryou're looking at:
- Black Book Clean Wholesale: $16275-$18275
- Black Book Clean Retail: $17250-$18800
- KBB Dealer Retail: $16,200-$17000

According to the numbers, you would be getting the truck at below average wholesale and below trade-in. Not too bad.

Given that you said the dealer has had it for 3 weeks, they probably bought the truck to stock up for the post tax buying frenzy. That means they paid way too much for it because wholesale prices skyrocketed during that period. I was seeing cars sell wholesale at dealer auctions for what KBB said they could sell them for dealer retail.

If they've had the truck this long, it's unlikely they're going to sell it out from under you while you try to shave a few more dollars off the price. They'll also be looking at their first financing curtailment coming up on the lending they likely use to pay for inventory. Typically this means another financing fee (around $75) and a small paydown of the principle (maybe 5%). This means if it doesnt sell soon it will go right back up on auction so they can cycle their inventory.

Because the wholesale market has calmed back down and gas prices are high, that dealer will have to expect to take a loss when his inventory goes back to auction. This means you can negotiate a little harder. I would be direct; mention curtailment periods, turning inventory, cost of financing. etc. You'll make more headway with some of those arguments.

I would offer him $15000 and see how far you get. Be prepared to walk away, but also be prepared to close the sale quickly if they agree on a price. I know I give a huge dicount for quick and painless sales. Keep in mind though, $15,600 is very reasonable... only walk away if your neediness level is low and you're OK with losing it.

Goodluck
 
I've found black book value for trades and retail price to be pretty useful.

When I'm shopping, I always ask early on what they have in it... Most of the time they tell me and and also tell me what they need to make on the car. It's a pretty direct method that has saved me and the dealer a lot of time when doing deals. If they don't want to tell me I will negotiate much more aggressive.
 
Forgot to add, I second the PPI recommendation.

It's amazing what kind of good and what kind of bad you can find at a dealer auction. Some vehicles are like striking gold, while others are sticky poorly maintained modern jalopies... it can be scary.

That in mind, I have every car I sell inspected before I sell it so my clients dont have to worry about that. They get a report of the inspection and full discosure of what - if anything - is wrong with the car their buying.

If i'm scared, you should be too. Always get a PPI.
 
Just a data point to help anyone looking at buying. Hope this info helps.
Really hard to figure out what is a good price on used 100 series. I have a 2005 LX that now has 128k miles, it's also the great dark gray with grey leather. It has always been dealer maintained by the book with all records and has no rust Las Vegas vehicle. I had Slee Off road take out the entire AHC and install the 2" OME and Slee diff drop. Also replaced the steps with the Slee step rock sliders. All fluids are new and synthetic where appropriate, all maintenance up to date, even replaced the T's and new 33" Michelin tires. I love my LX and I will only be driving it about 6k miles a year from now on, so in another 10 years it will be time for another timing belt and water pump :). So this gives you an idea what I have. Now located in Austin Texas, just bought a new 2014 ES350 and for fun while I was looking asked the local Lexus dealer what they would offer me for my LX. The offer was $14k
 
I appreciate the info! I found a perfect 04 private sale over a month ago. They sold it from under me, even thought they knew I was going too make an offer and had been dealing with them for over a week...

VIN - I've run it and its clean... No accidents, repo's, etc...
Only has had 3 owners. First was a lease, corporate deal. It is a CA car, so no rust issues...
Damn near all the maintenance has been done at a Toyota dealer. This dealer printed out the list for me...
Tires are in great shape and nearly new. I'd like new rims/tires
I'll ask if they sell it with a warranty, or if its a "certified pre-owned" deal. Not sure how this works.

I will ask them questions, string them along and see what they are willing too take at the end of the week. It's a cash sale, so guess that's good and bad...

If it sells by then, guess I start over. Only need it by winter anyway...
 
Toyota CPO certification is only available on vehicles under 100K. Thre are a handful of third-party CPO's, but they all cap at 150k miles.

Save your money on an independent dealer supplied warranty. Take a free one if they offer it or try to negotiate one into the price if he wont knock the price down further, but I wouldnt go out of pocket further for CPO or a warranty.
 
Great to hear what sounds like an honest dealer's perspective, though I'd be hard pressed to feel all are so straightforward as terrafirma. y limited experience with dealers, including my search for my 100 last year, left me with a bad taste in my mouth. That just seems like a lot of miles. Have there been repairs made to keep things that tend to wear out fresh?
 
I would say most dealers aren't bad, especially manufacturer dealers that sell pre-owned cars. Believe me, they don't want you coming back mad as much as you don't want to be mad. The independent dealers may be a little less motivated to work with you, but their prices are usually less.

I suspect a lot of the negative vibes towards car dealers are from the past when the consumer was MUCH less informed than they are now. Everyone can do their home work on price, car issues, etc now.... And a lot of dealers give you 30 day, 90 day warranty, and/or deep discount if a repair comes up soon after purchase.
 
This dealer seems nice. Both salesman and his manager answered my questions and no hard sell. Did just send them an email on rig, about their inspection findings and what was fixed/changed. So depending on what they say I might make an offer...

Also, just noticed a local 2001 LC with ONLY 56,000 miles for slightly cheaper! So it may be better too buy this one since it has so few miles and give up the 5 speed... Thoughts?
 
I will hold out for the 5 speed...
No idea what kind of rims. Should I leave them? I'm thinking of asking them to put stock ones on...

Sales manager called today and wants to deal It does come with a 1000mi warranty. Not much but if the truck was crap they wouldn't have bought it...

I have more questions so I'll string him along. If I lose it, I'll start over. I know more are out there, just need to be patient!

Looking online at other rigs their price is not bad at all, cheaper than others out there in some cases.

Think I'll start at $14,000 OTD and go from there... Thoughts?
 
Here is my $.02....

I recently bought a 2006 in great shape with 95,000 miles with the timing belt recently serviced and it already had the AHC removed and a complete OME lift installed.

I paid much more than $15k.

I guess the high gas prices in SoCal are really beating up the SUV sales there.

The brake system is one of the more expensive replacement items on a higher mileage 100 series, but the tranny and engines seem to be easily capable of 300,000 + miles if serviced well. A higher mileage LC can be in potentially better condition than one with 50,000 miles. Short trips and old people kill lots of good cars!!

Unless cheap landcruisers are falling from the sky, I would jump on this one for $15.5 or less.

See if they will do the timing belt service and give you a 5,000 mile/6 month warranty for a good deal instead of beating them up for a $1000 difference.

You said they are good folks, that means a lot to me on car purchases. I have dealt with a weasel dealership before and got a slightly cheaper deal. The service thereafter sucked and was overpriced on all labor and parts.

Never again. Short term gain, long term loss.

Btw- there aren't always more in line waiting for You. Don't make this excuse for yourself unless you are truly just a tire kicker and not a serious buyer.


Good luck man!
 
Sounds like this is shaping up to be a nice deal for you. Starting at $14k isnt offensive, but you should know that he's probably trying to hold onto the remaining $500 profit he has left in the car... if that. $15.5k and below and you can walk away proud of yourself.

If they're still negotiating with you on price, then I have to assume they dont have the in-house resources to perform the 90k mile servicing. Not all dealers have in-house service and there's nothing wrong with that. So far they've lost more money dropping the price than taking the hit having an hourly mechanic do the work + parts. Just something to keep in mind.

If the deal feels good and you like the car you should get it. Sounds like the dealer has been reasonable and treated you well.

If it doesnt feel good, or you notice one too many red-flags on the car, walk away. Some cars are hard to find, some arent. At the moment, LC100's and Lx470's are everywhere and in So Cal, they are not selling fast because of gas prices. If you were talking about a low-mileage, one-owner, completely dealer serviced, no kids, diamond in the rough, I would tell you to be seriously afraid of losing something rare. A normal dealer-offered LC/LX with nothing exceptional to speak of is far from hard to find. I see one or two at every auction I go to... and on busy weeks I'm at 3-4 different auctions just in LA and SD.

Keep a close eye on it: dont be afraid to give the dealer a call every day. As I said before, the dealership may be getting close to a cutailment on their inventory lending. They may even be preparing to send it back to auction to cycle it out. Right now, they will take a loss or just barely brake even if they do that. If you can make sure you're there at the right time you should be able to get it right above or at cost.

Goodluck
 
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