Valuing a 100 series Landcruiser?

[aphil]

Hi, so after a year of amazing ownership, I may be forced to sell my beloved 2000 Landcruiser :-( For the past 4 years I've worked from home and only put about 4,000 miles a year on a vehicle. Unfortunately, shortly after my purchase and a costly baselining process, a change in my job structure means I'm driving between Northwest Arkansas and East Texas multiple times per month which is about 700 miles round trip. I've put 15,000 miles on it in the last 6 months and the gas mileage is killing me.

I believe circumstances may force me into a more practical vehicle for this type of driving. What I'm having trouble figuring out is a reasonable sale price for this vehicle. The KBB and Nada values seem to be nearly half of what I see them listed for on Craigslist and even further off if I look at what a dealer is selling them for. I was hoping I could list out the details and you guys might be able to let me know what is reasonable?

2000 Toyota Land Cruiser
Riverrock Green Mica
179,000 miles
I'm the 2nd owner (purchase at 164k) in June 2016
Previous owner was a wealthy family in Kansas City who had it serviced religiously by the dealer.
It's in excellent interior and exterior shape visually and verified by my mechanic
Never been offroaded (except some bumpy dirt roads out to the river)

In the last 8 months I've done the following to baseline the vehicle:

Water Pump and Timing Belt etc... - $750
Left outer CV boot leaking - replaced axel - $250
Small steering rack leak - replaced Steering rack $800
Replace Antenna: $20
New Front sway bar link pins install - $150
New OEM Shocks $480
New Starter $300
New Micheline Tires $1000
New Rear rotors and pads $380
All fluids reviewed, checked and changed where needed
New Interstate Battery
New Headlight Bulbs
New Front weathertech Floor Mats $75

Only remaining item needing fixing in the future:
It has the ticking sound and has a small exhaust manifold leak. Mechanic says it will likely never need to be replaced through as it's not causing any harm.

I've looked at similar Cruisers at dealerships with similar miles but do not have ANY of the above baseline work done to them and the dealers are asking 14k to 15k for them while the Blue Book value on those cars is only $7k. I've asked the dealer why they are so much higher than book and they simply responded that sell them for what people will pay.

So, as you can see, I am at a loss knowing what I could sell this thing for or what a reasonable asking price is. Any help?

 

[bucfl]

They are right. An item is worth what someone is willing to pay. Look thru the classified for some ideas. Geography plays into it also.

 

[Warde]

a 2003+ with this condition and miles would be $14k - 17k as you mentioned, but a nonNav, 4speed, nonVVTI 100 is devalued in the market

I would not take less than 10k and you probably will not recoup the $$ you spent on maintenance

 

[aphil]

Thanks. Yeah, I don't expect to recoup the total cost of my baselining, but I would assuming it would significantly increase the sales price.

I bought this thing WAY under value because the small car lot, was doing a weekend liquidation sale and was selling things at loan value. I took it to a mechanic and came back with a list of all the work it needed and they dropped another $3k off the price. So If I sold it for $11k I would make up 100% of the money I've put into it. From doing some looking on craigslist and auto trader it appears asking pricing for this year and mileage is $12k to $14k, which makes me think a reasonable sales price is probably $11k to $12k

 

[edwardmatt83]

I paid $8500 for my 2000 in Utah last month. It had 180k miles, spotless interior, and good service records - I think I got a really good deal though.

 

[ap100]

Having just been through this on the buying end, I found that NADA was fairly close in valuations whereas KBB was laughably low (at least in southern california). If you aren't hurting to sell right away, list slightly under what dealers are asking, see what interest you get and adjust from there. Good luck!

 

[tacoduck]

RUST?

 

[fjfj60]

When selling, that manifold leak can/will cost you some money on the sale if the buyer knows what it is. Looking at a $1000+ repair.

 

[aphil]

RUST?

Now, I'm no expert in this area, but the mechanic i took it too said the rust was very minimal and typical for a car of this age and mileage. He said it was nothing to be concerned about.

 

[aphil]

When selling, that manifold leak can/will cost you some money on the sale if the buyer knows what it is. Looking at a $1000+ repair.

$1000? I took it to a muffler/exhaust shop and they said it's not hurting anything, but if the sound bugged me a $100 weld would fix the issue... Maybe we are talking about 2 different issues?

 

[studawg]

but a nonNav, 4speed, nonVVTI 100 is devalued in the market

This is not true, some buyers are specifically looking for Non-Nav and/or Non-VVTi LCs and LXs, and putting that as priority over the more desirable 5 speed transmission.

 

[ga12r1]

This is not true, some buyers are specifically looking for Non-Nav and/or Non-VVTi LCs and LXs, and putting that as priority over the more desirable 5 speed transmission.

This was me. I sought a non-nav so I could install a new pioneer nav unit. That gives me current 2017 tech. I didn't want early 2000 tech that I would be stuck with.

 

[abuck99]

Price it at $14,995 and see what happens, you can always lower the price- hard to go up.

 

[cwmoser]

When I was looking you could throw the KBB and NADA pricing out
the window. Nice LC's and LX's are hard to find and do command
a premium above those pricing guides. There are a lot of buyers
looking for nice examples and willing to pay a premium.

 

[Warde]

This is not true, some buyers are specifically looking for Non-Nav and/or Non-VVTi LCs and LXs, and putting that as priority over the more desirable 5 speed transmission.

We may be looking for that, but we account for 1% of the buying population (or less)

but the general public buyer values gadgets and tech and wants Nav

 

[aphil]

We may be looking for that, but we account for 1% of the buying population (or less)

but the general public buyer values gadgets and tech and wants Nav

I would agree if we were talking about any other vehicle, but I would say that the general population is not looking for a Land Cruiser with 180k miles.

 

[abuck99]

There are just enough cruiser nuts like us out there who are looking for 100 series trucks that push the demand curve beyond availability and the prices are reflective of the mania- (we've done it to ourselves.) Average or better 100's don't last long on dealer lots, craigslist, etc. no matter if they are 4spd, 5spd, Nav, Non-nav VVT or not.

 

[bctlex]

There are just enough cruiser nuts like us out there who are looking for 100 series trucks that push the demand curve beyond availability and the prices are reflective of the mania- (we've done it to ourselves.) Average or better 100's don't last long on dealer lots, craigslist, etc. no matter if they are 4spd, 5spd, Nav, Non-nav VVT or not.

Yep it is all about supply and demand. We might be less than 1% of the population but there are a lot more of us than the LC/LX for sale. Plus, there are not many large SUV with full time all wheel drive. Since I owned my LC, I am surprised that I have met many people who I did not think care or know about cars, but they know what is a Land Cruiser.

 

[BullElk]

I think even $12k is high priced for a 2000. Got my wife's '06 with 144k miles and very up to date maintenance for $16,300

 

[boostincoupe]

I would weigh the cost of fuel savings against one-time sales tax/registration costs. It will take a couple/few years to recoup that on a new(er) car.