2004 LX 470 rust evaluation. Too far gone? (1 Viewer)

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Location
United States
157k miles, dealer asking 17k. The selling dealer took a detailed video of the undercarriage. I have never owned one of these, so I need help. Is this too far gone/overpriced?

 
I would say yes to both questions. Speaking from experience with my '03, it is a lot of work to get all that rust out, cured, and painted. And that doesn't even begin to cover all of the additional problems you'll run into like seized bolts that snap off that turn a simple fix into a big problem. The more you get into, the more you find and the more problems you also create. If you really want to see how bad it is, drop that spare tire and take a look at the rear crossmember. I say all this and my '03 didn't look half as bad as what I'm seeing here. My advice... RUN!
 
Too far gone? Not at all. Overpriced? Completely.

If you were in a northern state and the truck was half the price then that's fine, totally able to be addressed and would make a fine truck. In your location and for that price, it looks like a hard pass based on rust alone.

These trucks handle mileage well, and 20 years is 20 years. If you can't find exactly what you want, I would be more willing to accept higher mileage for less rust. Being in Arkansas means rust is a choice not inevitable, no sense creating more work for yourself. The same components (bushings, suspension, maintenance) will be needed on a 165k truck as a 265k truck, they will just be harder to do on the rusty one.

My 04 is rustier, but I live in a place with both ocean salt and road salt so it is an accepted norm here, plus I paid less than half the asking price of that one.
 
At $17k, these people are as high as their price. Low miles on a 20 year old vehicle doesn’t mean much. What it tells me is, there will be a lot of maintenance coming up very soon. Look at it like this, if the vehicle is at say +200k, a large majority of maintenance has *likely* been done. At 150k, you will *likely* be the one doing all of the maintenance that someone has already done on something with +200k vehicle. I say “likely” that way because some people stay on top of things due to age, not failure. BUT it’s *likely* not the case. Most people wait for something to go wrong to address it. Should probably note as well, I’m from Michigan and still pretty convinced I am driving one of the rustier Cruisers on here. But I paid $4500 for mine 5 years ago.
 
I follow 100 series prices on carsandbids. The rusty ones usually sell for 2/3 to 1/2 of prices of rust free ones.
 
It's rusty, but not a lost cause. I'd bet a set of Heater Tees that there is body rot hidden behind the rear bumper cover and behind the plastic caps on side steps.

This hole is not factory. It's rot through. Not the end of the world by any means, but I certainly wouldn't pay $17k for it. In my mind this 100 should be under $7k, despite the mileage.
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Overpriced but not too rusty. Will also depend on if they can provide any service history. If well maintained , 12-14 wouldn't be too crazy for that mileage / condition.

Should ask for some pictures of the engine and undercarriage instead of a video. How far away is the vehicle, can you go look at it?
 

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