Value Question

[jlynch]

First, great forum.

I'm obviously a newbie to the world of land cruisers. I have an opportunity to buy a 1988 FJ-62. My girlfriend works a side job for a woman who's husband died a couple years ago. The FJ was his baby. She is ready to sell it but I only seem to find comps that are low end restoration projects ($800-$2500) and restored vehicles ($6000 and up). I think this vehicle is in the $2500 to $6000 range.

I drove it this weekend and saw the service history for the last 200,000 miles. Damn, I see why you guys love these trucks. Here is what I remember without having the records in hand.

233,000 miles. Everything seems stock but well maintained.
It is the gun metal gray color. The body and frame are straight(outside of a little dent on the post by rear window) with no visible rust.
Two owners. This owner purchased it in 1992 with about 30,000 on it. The vehicle has resided on the west coast from LA to Portland so limited winters and no off road exposure. The interior is in nice shape for 22 years and 233,000 miles. All power stuff works and AC blew cold.
In the last 20,000 miles:
Rebuilt tranny, new radiator, water pump(?), belts, brakes and exhaust.

In the last 3,000 miles, it had a $4000 service(it sounded like she wanted a 22 y/o vehicle to not leak in the garage): New head gasket, replaced seals on seemingly everything.

The owner sent home the ebay page with the Kelley Blue Book of $4875. It seems a bit high for a vehicle with 233,000 on it but I've read the 3FE is a war horse. Any thoughts? The owner is more than financial secure but my girlfriends doesn't want to get into negotiations with her. What do you guys think of this price? I plan to offer $4500 to replace cracked front windshield. It would be a daily driver about 20 miles a day until I'm ready to turn it into a weekender for the next 20 years.

Thanks.

 

[Jan-78FJ40]

First, great forum.

I'm obviously a newbie to the world of land cruisers. I have an opportunity to buy a 1988 FJ-62. My girlfriend works a side job for a woman who's husband died a couple years ago. The FJ was his baby. She is ready to sell it but I only seem to find comps that are low end restoration projects ($800-$2500) and restored vehicles ($6000 and up). I think this vehicle is in the $2500 to $6000 range.

I drove it this weekend and saw the service history for the last 200,000 miles. Damn, I see why you guys love these trucks. Here is what I remember without having the records in hand.

233,000 miles. Everything seems stock but well maintained.
It is the gun metal gray color. The body and frame are straight(outside of a little dent on the post by rear window) with no visible rust.
Two owners. This owner purchased it in 1992 with about 30,000 on it. The vehicle has resided on the west coast from LA to Portland so limited winters and no off road exposure. The interior is in nice shape for 22 years and 233,000 miles. All power stuff works and AC blew cold.
In the last 20,000 miles:
Rebuilt tranny, new radiator, water pump(?), belts, brakes and exhaust.

In the last 3,000 miles, it had a $4000 service(it sounded like she wanted a 22 y/o vehicle to not leak in the garage): New head gasket, replaced seals on seemingly everything.

The owner sent home the ebay page with the Kelley Blue Book of $4875. It seems a bit high for a vehicle with 233,000 on it but I've read the 3FE is a war horse. Any thoughts? The owner is more than financial secure but my girlfriends doesn't want to get into negotiations with her. What do you guys think of this price? I plan to offer $4500 to replace cracked front windshield. It would be a daily driver about 20 miles a day until I'm ready to turn it into a weekender for the next 20 years.

Thanks.

A 230k FJ62 better be in exceptional shape to be worth that much. it should be truly rust free and certainly should not have a cracked windshield.
I'd also be worried about the tranny. The A440F is not easy to rebuild and many people have bad experiences with rebuilt units that have been overhauled by someone, who does not specialize in them.
And war horse or not, 230k miles is a lot for any engine, no matter how pampered it was.

I think the truck is not worth $4500.

cheers,
J

 

[jlynch]

Thanks for your thoughts. I figured that was too much.

 

[jlynch]

Any thoughts on what might be a reasonable starting point?

 

[Kurtis]

4500 with that kind of maintenance history and no rust is an excellent price. There is a lot of people that will come in with there excellent deals they got but honestly no rust, no leaks, and a rebuilt transmission that shifts nicely 4500$ is a great buy. I bought a rust free straight 60 for a 1000$ but I would have easily spent another 3500 on all the maintence you listed this one had and the interior wasn't great and the paint on the hood was faded. I didn't care because I put in a v8 auto new interior Spring over axle lift, paint new tires and rims etc. So when people say that price is high they are high because to catch up on overdue maintenance on these things is spendy. Not to mention the trans rebuild is worth 2k in itself if done right.

Its much better to buy a well maintained vehicle in my opinion that try to save 1500-2k and end up spending double getting it up to speed.

 

[Michael Hanson]

Pics? Price seems very fair, with its history. Hard to buy a 4-wheeler for that price. MIke

 

[jlynch]

I have a couple pictures on my camera. By the time, I thought about taking them it was in the garage. I'll download tonight to see if they are even worth posting.

I know the maintenance that was done on the truck was first class. The shop has a great reputation. I guess my concern is, how long can a well maintained 3fe run? I really love this truck but I wanted a hit from the experts.

 

[EUROTECH1986535]

check the rear frame for rust if its all good snag that baby up well worth the $ if all the work was done right.

 

[fj80toyman]

Just as a reference, I recently couldn't sell my 1990 with 178,000 miles on it for $3500. Sounds like mine had some rust issues yours doesn't have but in my opinion when the economy gets healthy again, these are going to go back up in price because there's nothing made today that has as much personality, staying power and general fortitude as the 60 series.

I think if mine was rust free like you say this one is, I would have gotten my asking price but that's about it.

G'luck, Dan.

 

[tucson_sailors]

Talk to the mechanics who maintained it?

I have a couple pictures on my camera. By the time, I thought about taking them it was in the garage. I'll download tonight to see if they are even worth posting.

I know the maintenance that was done on the truck was first class. The shop has a great reputation. I guess my concern is, how long can a well maintained 3fe run? I really love this truck but I wanted a hit from the experts.[/QUOTE

Might be worth going down to the shop and asking the guys who fixed it what they thought about it. Most of the mechanics at my local Toyota dealership were amazed to see mine, and enjoyed chatting with me about the rig and its history. If the wrenchers at the shop have good things to say, then thats another point in its favor.

$.02

Glenn in Tucson

 

[spongejosh]

I'd say it's a good price if the engine and trans were just gone through and you have all the records. If you plan to bastardize it like some of us and swap in other engine/trans combos then I'd look for another one. If you want a good condition truck with the stock running gear then it sounds like a good price.

I paid $3000 for mine with 250k miles. It runs well but leaks from anything that holds fluid. Almost no rust and the interior is OK. I plan to swap a diesel/NV4500 into mine and I feel I got a good price for mine since it will run for a year until I start the swap. Lack of rust was the top in my list of priorities when searching for mine.

 

[Lost]

just dont spend to much on a rig thatll give you 11-13mpg.

rust free rigs are getting harder to find.

 

[imnewtolandcruisers]

I agree here what kurtis said. I bought one for 4300 in good shape, rebuilt engine, but dont know about the tranny, but everything is ok condition, but the tires needed replacing, shocks, sparks, etc...I spent roughly 1200 more to get it running smoothly and now its in good shape. So I spent 5600 or so.

I personally would buy what the person is offering what 4k or so?? with maintenance records and all? thats a good deal....

4500 with that kind of maintenance history and no rust is an excellent price. There is a lot of people that will come in with there excellent deals they got but honestly no rust, no leaks, and a rebuilt transmission that shifts nicely 4500$ is a great buy. I bought a rust free straight 60 for a 1000$ but I would have easily spent another 3500 on all the maintence you listed this one had and the interior wasn't great and the paint on the hood was faded. I didn't care because I put in a v8 auto new interior Spring over axle lift, paint new tires and rims etc. So when people say that price is high they are high because to catch up on overdue maintenance on these things is spendy. Not to mention the trans rebuild is worth 2k in itself if done right.

Its much better to buy a well maintained vehicle in my opinion that try to save 1500-2k and end up spending double getting it up to speed.

 

[jlynch]

check the rear frame for rust if its all good snag that baby up well worth the $ if all the work was done right.

Do you expect to find frame rust near the leaf springs? I'll have to go back out there this weekend.

 

[jlynch]

I have a couple pictures on my camera. By the time, I thought about taking them it was in the garage. I'll download tonight to see if they are even worth posting.

I know the maintenance that was done on the truck was first class. The shop has a great reputation. I guess my concern is, how long can a well maintained 3fe run? I really love this truck but I wanted a hit from the experts.[/QUOTE

Might be worth going down to the shop and asking the guys who fixed it what they thought about it. Most of the mechanics at my local Toyota dealership were amazed to see mine, and enjoyed chatting with me about the rig and its history. If the wrenchers at the shop have good things to say, then thats another point in its favor.

$.02

Glenn in Tucson

Thanks Guys. I'll grab the truck this weekend and take it out to the shop that the majority of the work was done at. Thanks again. I'll let you all know how it goes.