While in the end this is all very personal, when i want to buy a LC200 in 2020 I looked at:
- Model years 2013 and newer
Money Wise I considered:
- Calculated 250k minus actual milage / purchase price. You could use 300 or 350k or even more as well.
- Then applied the max money I wanted to pay (in my case could effort new as i had enough cash) and ended up with a new 5 miles Pearl White/Black Leather at $80.5k before tax.
Now the last point is not very good way to look at things obviously, as you can invest that money at say 5% year on year. So I spoiled myself with a new one, then again I want to keep it to at least 250k and know its full history. Should keep its value as one owner pretty good as well.
In case of cash + loan you can calculate this as well, I prefer to use excel.
Condition:
Since now all 200's are second hand checking them out will be most important:
- Wear on headlights and windshield (assuming still has the original toyota) can be indicators of use or higher mileage then advertised (this is unlikely states side)
Otherwise check a bunch:
- Maintenance history and number or previous owners (preferable one)
- General rust condition
- Carpet wet at footwells or not
- Cold start and any noise from valves or timing chain
- Signs of water pump or valley coolant leaks (signs at gearbox for the later)
- KDSS screws rusted or not (i have sprayed mined with rustproofer and put marine grease on top...)
- Check Hi/Lo range and transfer case locking
- How it drives straight without pull, symmetric wear on tires
- Brakes straight or with pull (hands lose from steering wheel)
Etc.
You could scan this forum and find a few more things like the cowl rubber seal condition and leak into the recirc box, signs of radiator leak on pre 2018 etc.
Good luck!