Am I Nuts for Considering a Cruiser Purchase in Today's Market?

[t6dpilot]

As the title says..... I definitely don't need one right now, but the want is very strong. I also don't plan on driving it much in the winter since I would like to keep the chassis free of corrosion, so I am not in a hurry since we are staring the salt season straight in the face. I have an '84 FJ60, so can scratch my itch there. I just want to add a 200 to the stable to keep forever - for a multitude of reasons/uses.

Am I nuts for even considering this now? It seems that everything is $7k to $10k higher compared to pre-bubble (not even going to use the C word, wink, wink). Seems like a trifecta of artificial inflation - end of the series in the US, bubble high market prices, and Toyota premium. I can deal with the Toyota premium and maybe a little of the demand from the end of the series trickling down. I am curious of your thoughts on this. I know, you ask 10 people that and you will get 12 opinions. Really would like to hear what you guys think is the right decision (I know, only I can make that for myself). Damn the torpedoes and buy now or just sit tight and wait. I am thinking the latter.

However, I am going to look at a very nice condition 2013 (edited from 2011) with 85k for $54k today. Dealer won't budge much on the price, maybe $1k I suspect.

 

[AnyMal]

As the title says..... I definitely don't need one right now, but the want is very strong. I also don't plan on driving it much in the winter since I would like to keep the chassis free of corrosion, so I am not in a hurry since we are staring the salt season straight in the face. I have an '84 FJ60, so can scratch my itch there. I just want to add a 200 to the stable to keep forever - for a multitude of reasons/uses.

Am I nuts for even considering this now? It seems that everything is $7k to $10k higher compared to pre-bubble (not even going to use the C word, wink, wink). Seems like a trifecta of artificial inflation - end of the series in the US, bubble high market prices, and Toyota premium. I can deal with the Toyota premium and maybe a little of the demand from the end of the series trickling down. I am curious of your thoughts on this. I know, you ask 10 people that and you will get 12 opinions. Really would like to hear what you guys think is the right decision (I know, only I can make that for myself). Damn the torpedoes and buy now or just sit tight and wait. I am thinking the latter.

However, I am going to look at a very nice condition 2011 with 85k for $54k today. Dealer won't budge much on the price, maybe $1k I suspect.

Look im gonna be completely honest, if i were in the market looking at these prices there is absolutely no way i would do it unless money was seriously not even a consideration. The type of person i am, it wouldn't even matter if that were the case, I would still wait regardless of my ability to spend it.
It's just not wise to overspend by these amounts on anything even if you have no regard for money.

If i were looking to spend that kind of cash $70-90k on a used SUV i would rather buy a new R1S or something.
I love my truck, but there is an upper bound here that just doesn't make sense.
There are already a TON of compromises you make by driving these things, and for that kind of money, im sorry but im out. The value proposition just doesnt add up.
Cost to run, cost to repair (yes you will be repairing things) and the cost of proper maintenance it just doesnt make sense unless you absolutely are using it for remote exploration where your life depends on it.

It's not a unicorn that warrants these prices despite obviously being near and dear to everyone here. Im sorry.
It just isn't that compelling of a vehicle or rare for that matter.

 

[CharlieS]

Yes, it would be nuts. Prices are insane. Supply and demand are all out of whack. The frame will rust, even if it sits parked all winter - as much as I love my Toyotas, they haven't figured out how to protect the welds, and do silly things like leaving machined surfaces on kdss components in bare steel. Sit tight and wait.

 

[linuxgod]

As the title says..... I definitely don't need one right now, but the want is very strong. I also don't plan on driving it much in the winter since I would like to keep the chassis free of corrosion, so I am not in a hurry since we are staring the salt season straight in the face. I have an '84 FJ60, so can scratch my itch there. I just want to add a 200 to the stable to keep forever - for a multitude of reasons/uses.

Am I nuts for even considering this now? It seems that everything is $7k to $10k higher compared to pre-bubble (not even going to use the C word, wink, wink). Seems like a trifecta of artificial inflation - end of the series in the US, bubble high market prices, and Toyota premium. I can deal with the Toyota premium and maybe a little of the demand from the end of the series trickling down. I am curious of your thoughts on this. I know, you ask 10 people that and you will get 12 opinions. Really would like to hear what you guys think is the right decision (I know, only I can make that for myself). Damn the torpedoes and buy now or just sit tight and wait. I am thinking the latter.

However, I am going to look at a very nice condition 2011 with 85k for $54k today. Dealer won't budge much on the price, maybe $1k I suspect.

I bought my 2013 LC with 49k miles on it in January 2016 for $49,000. You're considering a 2011 with 85k for $54,000. It's crazy to me to think my modded '13 with 120k miles might fetch nearly what I put into it 5 years later. So personally I'd wait... I'm not sure when prices will come back to normal, but I am sure you'll be able to find a newer LC with less mileage a year or two from now for less money. If you play your cards right you might swing a 13-15 which had some updates or possibly a newer facelift 2016+.

Also being I'm also around Chicago, I can say for certain that you'll get a better deal on an LC bought and shipped from somewhere else than you will locally (mine came from Houston). You'll also likely get a much better deal on a similar (or newer) LX around here as the LC is rare here but the LX is more common, so if you don't necessarily care which you own I'd recommend searching for an LX. (Also everything which has been a local vehicle will likely be a rusty mess underneath - which is fine if your mechanic does all the work but sucks if you have to do stuff yourself.)

Then again, nobody *needs* an LC, and if you have $ to burn why not do it and enjoy it?

(There you go... 3 opinions form 1 guy).

 

[El Skywalker]

As the title says..... I definitely don't need one right now, but the want is very strong. I also don't plan on driving it much in the winter since I would like to keep the chassis free of corrosion, so I am not in a hurry since we are staring the salt season straight in the face. I have an '84 FJ60, so can scratch my itch there. I just want to add a 200 to the stable to keep forever - for a multitude of reasons/uses.

Am I nuts for even considering this now? It seems that everything is $7k to $10k higher compared to pre-bubble (not even going to use the C word, wink, wink). Seems like a trifecta of artificial inflation - end of the series in the US, bubble high market prices, and Toyota premium. I can deal with the Toyota premium and maybe a little of the demand from the end of the series trickling down. I am curious of your thoughts on this. I know, you ask 10 people that and you will get 12 opinions. Really would like to hear what you guys think is the right decision (I know, only I can make that for myself). Damn the torpedoes and buy now or just sit tight and wait. I am thinking the latter.

However, I am going to look at a very nice condition 2011 with 85k for $54k today. Dealer won't budge much on the price, maybe $1k I suspect.

I purchased mine in this market.
The Tacoma I traded in fetched me what I had paid for it 5 years prior to.

With this said, $54K for a 2011 is a tad overvalued (even in today's market).

You can find a better deal, as I did.
I personally would keep an eye on the 2016+ in the area when available (nothing wrong with <2016 btw).

 

[t6dpilot]

Great replies guys. Thank you. And I agree with all the comments so far. Really appreciate your input. I am most likely going to wait. And it just kills me to buy from a secondary dealer. I would so much rather buy from a private party and not from up north. I looked at one in MA that had only 70k miles on a 2013. Holy crap was it crusty underneath.

 

[Leaky2014]

Keep looking, you can find 200's half as old for just a couple thousand more.
Not a fan of carmax but if you are quick you can snag one.

https://www.carmax.com/car/20432349

'16 for $56k

 

[D21FJ60]

Are you determined to get a low mileage unit? Higher mileage early 200 years seem to be going for around precovid prices, from what i've seen. I also live in a rust area so who knows how they're doing in the south.

 

[LTSR]

Keep looking, you can find 200's half as old for just a couple thousand more.
Not a fan of carmax but if you are quick you can snag one.

https://www.carmax.com/car/20432349

'16 for $56k

I agree. keep looking, deals come up from time to time, you just have to be ready to pounce.

I purchased in this market but also sold a car in this market. I found a 200 with 1-owner, clean carfax and dealer records priced 5-10k below market. Dealer was an hour away from a major city. I have been looking for a little over 5 months, almost everyday. If you take the time, you can find deals, just have to act quick.

 

[AnyMal]

Give it 6 months man, we are about to have (are having) a massive global economic crisis lol.
Demand is already eroding and shriveling up left and right. Housing market is already tipping.
The ponzi dollar and leveraged economy is fully exposed for everyone to see now, tin foil hat crew and normies alike.


Theres also lots of good replies here too, like skywalker said, if you are trading then its a wash anyway and that makes sense.

 

[82SC]

Man it’s your money and everyone has a different threshold.

Are you getting a screaming deal? No. But do we expect prices to plummet by more then 20%. No.

If you can afford it and it’s worth it to you then do it. Especially since you buying to keep and not investing or planning to flip or move on in a few year. The premium you paying spread over 20-25 years is negligible.

 

[Cincodemustache]

We’re all nuts here. I bet you will find the perfect one and join us soon. When it comes to vehicles, a strong want will usually dominate actual need.

 

[liv2bike]

I know those of us that are rational expect prices to level off...but will they? If people continue to pay inflated prices for these trucks, then they may not. This is just another example. I'd definitely hold off man. Unless money doesn't matter, then go for it.

These aren't air cooled 911's. Or something vintage and Italian. At the end of the day, it's just a Toyota. But...I'll get buried in mine! Have patience man. The right one will find you. Cheers.

 

[G-Cat]

Yes

 

[t6dpilot]

We’re all nuts here. I bet you will find the perfect one and join us soon. When it comes to vehicles, a strong want will usually dominate actual need.

Right? I will find one that fits the bill pretty closely. I am patient and love the search. It is half the fun right? Well, not really... The one local to me was actually a 2013. Drives like brand new, but damn the salted roads. That really does not do these rigs any favors. It had too many flaws for my taste.

@liv2bike I hear ya about the 911 market. I got into the early 911 market years ago before the huge run up. Still have some and have done very well on the ones that have found new homes. Call it a stock portfolio diversification that you can actually have fun with.

 

[Otapnam]

My 2013 LX with 120k miles was 38k$ at CarMax. I know the cruisers go for more but 54k for a 2011 LC.... I don't know man that's like 6-8k above today's already inflated cost

 

[linuxgod]

If you find one that isn't rusty, slather the KDSS screws with marine grease and coat the entire underside of the rig in Fluid Film each November. Mine looks better after 5 years in Chicago than most vehicles do after just one year. @GoISU lives out in Wheaton and will FF you rig affordably.

 

[umarali]

Keep looking, you can find 200's half as old for just a couple thousand more.
Not a fan of carmax but if you are quick you can snag one.

https://www.carmax.com/car/20432349

'16 for $56k

What do you think of this from carmax? 113k miles, but one owner and all records from toyota dealer. BTW i reserved it yesterday and now it is inbound for carmax near me, hopefully $350 transportation wouldnt go to waste if i find something wrong with it. I will be trading my 2021 gx460 i purchased in july a little under MSRP but including extra dealer protection 3m clear thing so the tradein will make it good buy in my case since carmax is offering me $60k for tradein on my gx with 7700 miles on it.

 

[hickuptruck]

Yeah, Cruiser prices are absolutely ridiculous these days. But then again, I bought a FJ60 for the money I had saved up for another 200, and on the market for a Fj60 now.

If I absolutely had to have a daily driver 200/300, my money would be on a brand new LX600, and come out pretty good with depreciation if they follow the same depreciation as LX570s.

 

[TLC2013]

There have been some good experiences posted here of camax covering expensive repairs that popped up during the warranty period they include on all cars sold through them. Cant remember the exact issues but it was thousands in free repairs.
There don't seem to be many of the 2016 and newer cruisers posting issues with the coolant valley leak, cam tower leak or timing cover leaks which have popped up on the older and higher mileage 200s. I'd have all these trouble areas checked out either before or after purchase to see if they need to be addressed.