New guy here, hello, and...need advice on potential purchase

[Doofenshmirtz]

Been reading the forum for a few weeks despite never having owned a LC...but I've got a line on one, which is the point of my first thread here. A friend is selling a 2003 and I've got the first shot at possibly purchasing. Black exterior, tan interior, no wrecks, no offroad, no mods, very little towing, Southeast vehicle [TN & GA], 2 owners, 183k on the odometer, been mainly a daily commuter since ~50k. Needs paint work on front bumper and there's the usual parking lot dings/scratches, a little corrosion starting on the wheels. Interior is pretty good, front seats show wear, some minor leather damage but no cracks. Will need tires ASAP, but it had timing belt/water pump replaced ~40k ago.

Regional differences notwithstanding, interested in the board's opinion on FMV plus any other suggestions. TIA, and hope to be joining the club soon. Will now try to attach pics...

 

[Doofenshmirtz]

 

[Doofenshmirtz]

 

[INTP]

Can you post some pics of the bottom? Do you like the way it drives?

 

[SWUtah]

Asking price? Pic's of bottom? How does it drive?

 

[Doofenshmirtz]

Didnt get any bottom pics...we were in public and she's a shy one, but I like the way you guys think. Drives good, but I was only in town didnt get on the interstate although I know it commutes on interstate daily. I now remember its had a wheel speed sensor and bearing done at some point, too. Not really an asking price yet, friend is looking for next vehicle while still driving this one. That's part of why I'm asking for feedback. Thanks again.

 

[Manhattan]

I do think that the perfect 100 to buy is one with a trashed bumper (or bumpers) and bald tires. Really.

How sure are you it's a S.E. truck? The lack of stick-on fender flares and the presence of the corrosion could be an indicator that it spent its formative years else wear. That front bumper makes it look like an NYC truck. Me - my first week in the city: "Hey man, you hit my car". Local - we'll call him Vinny: "Yo, it's a bumpah right?"

 

[GregLCA]

Been reading the forum for a few weeks despite never having owned a LC...but I've got a line on one, which is the point of my first thread here. A friend is selling a 2003 and I've got the first shot at possibly purchasing. Black exterior, tan interior, no wrecks, no offroad, no mods, very little towing, Southeast vehicle [TN & GA], 2 owners, 183k on the odometer, been mainly a daily commuter since ~50k. Needs paint work on front bumper and there's the usual parking lot dings/scratches, a little corrosion starting on the wheels. Interior is pretty good, front seats show wear, some minor leather damage but no cracks. Will need tires ASAP, but it had timing belt/water pump replaced ~40k ago.

Regional differences notwithstanding, interested in the board's opinion on FMV plus any other suggestions. TIA, and hope to be joining the club soon. Will now try to attach pics...
View attachment 1133716 View attachment 1133717 View attachment 1133718 View attachment 1133719 View attachment 1133720

If it's got the factory NAV system (which it appears to show in the photos) you'll be stuck with it for life.... no way to change out the deck for something better later on, so decide how important that is to you. I think I recall seeing that you can at least add a Bluetooth adapter but that's about the extent of "upgrades" that it will support.

"Baselining" an LC can get expensive, so check the receipts on services to see what has already been done by the owner. YES, you can go through and replace all the fluids, Heater Ts, waterpump, tensioners, spark plugs, fuel filter, wheel bearings, sway bar bushings, etc, etc, etc.... but that stuff really adds up. If the truck is priced well, you can still justify the purchase even with a long list of baseline work to do.

All tolled, I think I spent around $5K getting mine fully-sorted but now it runs so well, that I wouldn't hesitate to jump in and drive it ANY distance on a moment's notice. That peace-of-mind is priceless to me... and I wouldn't be willing to DD a 14-year old vehicle unless I was 100% sure that it wasn't going to leave me stranded.


-G

 

[Doofenshmirtz]

Thanks guys. Any thoughts on a fair price?

 

[GregLCA]

Does she have good service records to share?

The biggest objections when people buy these vehicles are:

1. Mileage
2. Rust

Mileage isn't really an issue IF you can see evidence that the vehicle received proper maintenance throughout it's life. Fluid changes at appropriate intervals, timing belt service, waterpump replacement, new plugs at 120K, etc. If those things are all missing... or if a LOT of work was just done recently, it might be a sign of a long-neglected vehicle that may not enjoy the same 300,000 - 400,000 mile life expectancy as one that was lovingly maintained throughout it's life.

Rust is the other big concern. The guys out west have a "zero tolerance" policy on rust, whereas the rest of the country is perhaps a bit more pragmatic when it comes to rust and "how much is too much"..... these vehicles are meant to be driven and enjoyed, so I wouldn't let some minor rust dissuade you. However, if there is perforated rust or structural rust it's better to just walk away. The 100-series LCs are hard to find.... but not THAT hard to find where you should accept a lousy, rusty example.


Once you have a good sense of those 2 key areas, you can start discounting off the "typical" prices that you might see them advertised for online.
If you're handy and have time to fix things yourself, you can save $$$ by doing a lot of maintenance yourself. I don't think anyone is going to be willing to guess a fair price until/unless you can get photos of the underside (of the truck).


-G

 

[Doofenshmirtz]

As for service records, I've seen invoices for the non-routine stuff stated above, plus a couple brake jobs and oil changes. They don't have every oil change receipt and I wouldn't have expected it, just b/c they're not type and it's been primarily a kid carrier/commuter vehicle. They've kept up with routine maintenance and done work recommended by the shop. I told them several years ago to make sure I got first shot if/when they ever sold the LC so since then I usually hear when work has been done. I'm sure it hasn't been as meticulous as many on here, but I feel comfortable with the maintenance level due to knowing the owners & the LC for about 8 yrs.

As for rust, I didn't get underneath, just leaned down around wheels and each side. Saw no signs of rust and I know this has been a city LC that has not dealt with inclement winter weather, road salt, saltwater, or offroad use. I will, of course, get underneath before any offer, but it would be highly unusual for a GA/TN LC to have a rust problem.

The only $$ discussion has been a reference that "KBB says ~$11k for good condition..." and I haven't said anything except I'm interested.

 

[Doofenshmirtz]

**I haven't figured out how to edit a post - I assume this is possible?**

FTR, I don't plan on turning this into a heavy duty trail rig. Primary importance would be to haul family/gear hunting and camping, with some towing. A/T tires, light armor, and suspension improvement are likely about the extent of things as our hunting areas have well-maintained access roads.

 

[GregLCA]

**I haven't figured out how to edit a post - I assume this is possible?**

FTR, I don't plan on turning this into a heavy duty trail rig. Primary importance would be to haul family/gear hunting and camping, with some towing. A/T tires, light armor, and suspension improvement are likely about the extent of things as our hunting areas have well-maintained access roads.

You should be able to see an "edit" button across the very lower band of your responses, highlighted in yellowish.... on the left side.

I guess since this seller is more of a friend that some total stranger, you don't have the luxury of just lowballing and insulting them like you might otherwise be comfortable doing!!! I guess the best strategy is to find some kind of compromise price between the "Sell it Yourself" price that KBB provides vs. the "Trade In" price that they'd get by just dumping it at a dealer for wholesale.

You save them the aggravation of listing the vehicle for sale, answering lots of calls and wasting time meeting with strangers who just want to waste their time.... that should be something they can see as valuable. And your purchase price will still be higher than if they just took the laziest approach of just wholesaling it with a dealer or as a trade-in. It seems like these vehicles kind of "bottom out" pricewise at around the $8000 - $9000 mark regardless of mileage and condition.

My non-scientific guess is that if they've thrown out $11,000.... they might settle at $10,000 if you make the deal quick and easy. There's probably too much psychological resistance to allowing themselves to sell it for $9999 or less ($9999 just FEELS like a lot less money than $10,000 even though it's not)

No matter what happens, there will probably be a few unexpected expenses...and perhaps a few pleasant surprises. Doing even a small amount of work on suspension, tires, and armor is going to add up quickly, so hopefully getting the truck for around $10K still leaves you enough left over to outfit it the way you want.


-G

 

[Doofenshmirtz]

You should be able to see an "edit" button across the very lower band of your responses, highlighted in yellowish.... on the left side.

I guess since this seller is more of a friend that some total stranger, you don't have the luxury of just lowballing and insulting them like you might otherwise be comfortable doing!!! I guess the best strategy is to find some kind of compromise price between the "Sell it Yourself" price that KBB provides vs. the "Trade In" price that they'd get by just dumping it at a dealer for wholesale.

You save them the aggravation of listing the vehicle for sale, answering lots of calls and wasting time meeting with strangers who just want to waste their time.... that should be something they can see as valuable. And your purchase price will still be higher than if they just took the laziest approach of just wholesaling it with a dealer or as a trade-in. It seems like these vehicles kind of "bottom out" pricewise at around the $8000 - $9000 mark regardless of mileage and condition.

My non-scientific guess is that if they've thrown out $11,000.... they might settle at $10,000 if you make the deal quick and easy. There's probably too much psychological resistance to allowing themselves to sell it for $9999 or less ($9999 just FEELS like a lot less money than $10,000 even though it's not)

No matter what happens, there will probably be a few unexpected expenses...and perhaps a few pleasant surprises. Doing even a small amount of work on suspension, tires, and armor is going to add up quickly, so hopefully getting the truck for around $10K still leaves you enough left over to outfit it the way you want.


-G

This was my thinking/plan pretty much. I will have my shop look it over prior and I feel pretty safe at that number all things considered.

I still am not seeing the "edit" though - I see "report/like/quote/reply" in yellow and that's it.

 

[GregLCA]

This was my thinking/plan pretty much. I will have my shop look it over prior and I feel pretty safe at that number all things considered.

I still am not seeing the "edit" though - I see "report/like/quote/reply" in yellow and that's it.

You might not get "edit" until your post count gets a little higher.... now that I reflect back on my own experience it seems to have just "showed up" one day after passing 10 posts, or 25, or 50.???


-G

 

[ponytl]

you are always safe... saying i will give you $500 more than carmax... of course carmax will offer $3,700... you might buy it for what they get offered as a trade in... plus the tax difference they will have to pay

 

[Junglejack]

Given the mileage and condition, I would not pay over $17,000. With the ideal being $14-15k. And it being that high is due to being a Southern truck.
If you can get it for anywhere near $11k, run, don't walk.

 

[Doofenshmirtz]

you are always safe... saying i will give you $500 more than carmax... of course carmax will offer $3,700... you might buy it for what they get offered as a trade in... plus the tax difference they will have to pay

Well they're smart folks [and friends as well] so the extreme lowball won't fly. Have already told me that if I don't buy it they plan to sell it themselves instead of trade in.

 

[Doofenshmirtz]

Given the mileage and condition, I would not pay over $17,000. With the ideal being $14-15k. And it being that high is due to being a Southern truck.
If you can get it for anywhere near $11k, run, don't walk.

The more I look around I agree RE: $11k. Just wanted to see if folks on here thought the same. Likely see if they will go $10k due to bumper paint, tires, and other "issues" I will point out. But ultimately I think 11 would still be a very good deal. If it wasn't a deal I'd probably keep looking as the color isn't my preference and there's better kept trucks out there.