Third time's the charm? - hunting another FJ40 (4 Viewers)

[drooartz]

While I wait for the inspection on the '71, I've been thinking about the FJ40 market here in 2025. A couple observations from someone returning after 15 years:

1) Boy there are a lot of South American 40's here in the states now. Easily more than 1/2 of the trucks I'm seeing for sale are SA. Not particularly interested in one, but they do seem to be an outsized part of the market now. Certainly it is an interesting time if you want a FJ43 or some other non-USA variant and are willing to deal with the potential issues.

2) Prices have softened since the peak a few years ago. They're still up significantly since I bought my last 40 in 2011, but are definitely down from the heights. Really nice no-excuse clean trucks are in the $40K range, with a few exemplary example in the $70's -- but those really are the outliers. I've kept an eye on Bring-A-Trailer to get a sense of the top of the market price-wise, and most of the really nice ones are in the $40s. Again, far cry from 2011 (or 1995 for that matter) but down from the stupid heights they reached a little while ago when I figured I'd never have another 40.

3) The universality of delusional sellers remains constant. The '76 I had inspected is a decent truck, but certainly not the "best one you'll find, absolutely no issues" truck as the seller explained it to me. The prevalent rust in the roof cap and mediocre repaint I guess are not issues? Didn't want to insult by making a low offer, so didn't bother. Another example, I had a '79 inspected at the start of my journey. At the time they were asking $49,995 which would be a real stretch for me, but for an excellent truck I might have been able to make it work. The inspection showed an OK truck at best, with rust coming through the inner fenders in a number of places. Poor paint prep at best, serious issues at worst. I passed.

I just noticed that same '79 is now listed at $68,955! What the actual F***!?! Did they find $20K in cash sewed into the seats?
1979 Toyota Land Cruiser FJ40 $68,955 - Passport Motorsports - https://www.passportmotorsports.com/Listing/390125/1979-Toyota-Land-Cruiser-FJ40.aspx

So it's an interesting market out there. Sellers are still a bit slow to catch up to the current price realities, normal in a period of softening prices. I've watched a few listed locally sit for a while with gradually dropping prices. They're not ones I'm interested in, at least not near their current ask. Really nice stuff still commands good money (just look at one of the Tilda Bogue threads here to see what quality work and parts cost) but everything else is a bit more reasonable.

All in all it's an interesting market, and as a buyer patience is your best tool right now.

 

[Living in the Past]

2011 the US was still recovering from the great recession. The 70 I own I was helping a WWII vet sell it. I researched the market and was asking a price that was where I have found others sold for. 2007 he could got close to double the price. Owner was in early Alzheimer's and could use the money. Only possible buyer dropped out when the market dipped.

 

[70fj40]

I am not sure I’ve ever seen a thread where living in the past has ever mentioned selling any of his 40 fleet especially not the one owner. I’m guessing you already talked to him. The one he mentioned would be a rare find.

 

[procomsignathid]

As a proud owner of a South American ‘40 (that may have started life here as it seems US-spec, but it was in Columbia until recently), oh man. Its pretty but I tell people all Ive had to do on it so far was everything

 

[drooartz]

As a proud owner of a South American ‘40 (that may have started life here as it seems US-spec, but it was in Columbia until recently), oh man. Its pretty but I tell people all Ive had to do on it so far was everything

Sorry to hear that -- though it does track with what I've read. Certainly enough stories to keep me with US models.

 

[CBFJ]

I seem to be predictable. Every 15-ish years I feel the pull of the FJ40. The last time this hit was in 2011, so today in 2025 it is time again. The Good Lord help my bank account.

My first one (a 1976) bought for almost nothing in 1995, all rusty awesomeness. Was my only car at the time. Sold it in 1997.
View attachment 3935682

Next one (also a 1976) came along in 2011, bought here off Mud. Paid more than "almost nothing" for it, but fair for the time. Planned to daily it for a couple years until I could afford to retire it, but wound up selling it after a few months as the reality of winter road salt here in the Utah mountains sunk in. Darn near cried when I sold it.
View attachment 3935687

I saw that very same red truck at a local shop a few months ago. Still looks great and really got me thinking. Enough thinking that I sold my ND Miata a little while later to build up funds for today's price reality. That new price reality is now substantially more than the "almost nothing" of 1995, but I've been able to save up enough to be in the game with spousal approval to proceed. We've also built a 36'x40' shop in my back yard since my last FJ40 so there's storage and work space (and a lift!) now. Somehow 3 old crocks seems to be the right number for me.

So I'm on the hunt again. My goal is '76 and up in very clean, original condition, though I could be convinced by the right '71 or earlier (column shift could be fun). Some preference to '79 or later as the taller gearing would suit me well. Usage goal is to play up here in the Uintah mountains where I live, and also a little travel down to the desert.

In my research over the last month I've become very aware of current pricing trends. I've spent enough time playing with old British cars over the last 20 years to know that you spend that money one way or another -- at purchase or after. Nothing more expensive than a cheap old car.

Wish me luck!

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[procomsignathid]

Sorry to hear that -- though it does track with what I've read. Certainly enough stories to keep me with US models.

No worries! It's all learning and I'm ultimately happy (albeit a bit poorer). One of the pieces of wisdom gained has been to go deeper on solving these issues, get involved on Mud, and posts like this one here (which I'm bookmarking), will be helpful the next time I buy a vehicle. I honestly had no idea that something like the lemon squad existed. But I appreciate your cool head to the journey, it's certainly something I could learn from! This was pretty much my mental process / extent of my diligence upon seeing the truck:

 

[drooartz]

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Thanks, I’ll take a look.

No worries! It's all learning and I'm ultimately happy (albeit a bit poorer). One of the pieces of wisdom gained has been to go deeper on solving these issues, get involved on Mud, and posts like this one here (which I'm bookmarking), will be helpful the next time I buy a vehicle. I honestly had no idea that something like the lemon squad existed. But I appreciate your cool head to the journey, it's certainly something I could learn from! This was pretty much my mental process / extent of my diligence upon seeing the truck:

I feel you! I’ve earned my wisdom the honest way, by making all sorts of expensive mistakes. Get enough mistakes under the belt and even this old dog can learn a little.

None of the decisions around these old trucks are fully rational, otherwise we’d all be driving something modern and precisely capable enough for what we need (not want) to do and nothing more. Owning a 50 year old, slow, inefficient, uncomfortable truck is not exactly rational. It is, however, fun and part of a joyful life, and towards that end I’ve learned to mix the practical and the emotional. With what I am prepared to spend I know I need to take real care and be willing to walk away, while at the same time I’m waiting to feel a bit of that spark that says “this one needs to come home with me.”

I call it the “there it is” factor. An example: in addition to my day job I also gig regularly as a musician. A couple years ago I was feeling it was time to get a new acoustic guitar, an upgrade. Went to a great local store to try some really nice instruments and see if I really felt they were an improvement. There was one for me that just felt right. Kept going back to it. “There it is.” Even though it was eye-wateringly expensive, I bought it that very day. Part rational as this is an investment in the tools I use to make some of my living, and part emotional as it just felt right.

The current ’71 I’m considering has some of that feel. I’ve had it on and off my list during my search since it popped up, as I really wasn’t looking for an older rig. But it just kept nagging at me, like maybe it needed to come home. Maybe “there it is.” We’ll see.