Buying 1st Gen Tacoma

So I've been looking around my area for a 1st gen Tacoma to replace my 2011 when I sell it, lo and behold I find a great truck close by and I really want it.. I mean really want it.

It's everything I was looking for in a truck. I went and checked it out in person last week.

Here are the stats. 2001 Red Ext. Cab V6, 5 Speed, 4x4, TRD Off Road Package, and only 87,000 miles.

The guy said it was garage kept. It looked it. Underneath barely any visible rust. Paint doesn't look faded, though there are some dents and dings but still looks great for it's age. Interior looks good, engine sounds good. I'm going to test drive it this weekend. Once I sell my truck I can buy it from him no problem, but here's the thing. I KBB'ed his truck, value came out to around 11k, but he's asking $14,250 and he made it clear he wouldn't come down much.

What would be a fair price? I'm not looking to spend more than 12k no matter what truck I decide to buy. Is it only worth that much to him? How high should I go on my price? Thoughts?

Here's a pic from the ad:

 

Great looking truck! Quote Kelly's and tell him thats all the bank will loan. Your approved and can have the check PDQ. I bet he bits.

 

That truck would go for about 14k in my area. 11 seems low to me. looks like a nice truck

 

Nice! Never thought of that. I was thinking of telling him I only got 12k paid on my truck so when I sell it that's all I'll have.

 

Is everything really that much more expensive in Cali?

 

yeah. i got my 96 for 7k

 

Tough call. The truck can be worth more to you than what kbb suggests, but kbb is based on market prices, so it carries some weight. If the truck is truly garage kept and with the low miles you can pay a little more, but from 11 to 14,250 is a stretch.
Did you show the kbb to the owner?
Maybe give him some time, if he sees that he can't sell it, he might change his mind and drop the price. Give him your number and follow up with him in a week or so.

 

That would probably sell for around 12-13 up here...My brother bought his 01 ext. cab with 110k miles on it for $12,000 and I bought my 02 DC with 47k miles for just under $15,000, which was right at KBB value at the time.

 

No I was only there for 20 mins checking it out the first time, I didn't want to seem to interested. Next time when I show up for a test drive I'll show him KBB value, I know he'll have something nice to say about that

It's been on craigslist since mid February, I'm sure he's ready to get rid of it. I hope I can get my truck sold soon enough to show up with a 12k check and tell him take it or leave it.

 

Also, in the pic the truck looks lifted?

 

KBB is becoming more of a dealer tool than a public sellers (I know it says private value) but try NADA and Edmunds and average the three.

Edit Nada says 11,600 in NC with no power options or tow package.

 

I got mine, which is identical spec (if the OPs is SR5 trim, too) for $12,725 in Oct. 2010. Bought it in Santa Cruz CA. from a private seller. It had 101k miles and a nice Snugtop (~$1k new) plus the T-belt already changed (~$500, due at 90k miles). It needed tires, which can be somewhere from $500 to $1000 installed, and shocks.

Make damn sure the diff lock works, which is really the only TRD feature of note and is expensive to replace or a pain to fix if it is not working correctly. The shocks will likely be shot if they are original, and the stock leafs and coils are soft and may need replacing.

Consider all that and stick to $12k.

 

It's like anything you bargain for in that what's it worth to you. On the plus side it is a low mileage truck which is a big plus even for a Toyota. On the other hand another truck could come along at the price you want to pay. I would ask him how he arrived at $14,250. What has he added that would increase the value. You could counter his asking price at a half way point of $12,625 which is half way between $11,000 KBB and his asking price. See if he will meet you half way. If he stays put give him your number and say if you change your mind give me a call and walk away. Also if he agrees to sell it tell him you want your mechanic to look it over 1st and do it. If you loose the deal another will come along. Don't use your heart for a guide, use your brain. Looking the truck over look for things that need replaced or changed, tires, dents, spare tire, jack and does he have a service record for oil changes, timing belt, spark plugs etc.

 

Check and see what similar trucks are going for in your area for reference. That is really the best way to compare. Every area is different.

I'll just say that if it were for sale here, it would be priced right, or, easily more which wouldn't be out of the ordinary. Most '01-'04 first gens here, regardless of the mileage, go between $14-$20k.

BTW, why are you selling your 2011 for a 1st gen?

 

that truck is worth the 14k he's asking. It's a dependable truck and if it was garage kept it must be fairly clean.

 

It has a revtek lift on it, I plan on replacing all that once I get it. I'm also going to have the timing belt replaced and do a ton of maintenance to it in general. I asked him about the diff lock, he said he used once over the winter and it locked up in no time, he said he's also used here and there as needed. It has 285 BFG A/T KO's on it with about 70% tread. That I like.

And to the other guy I'm selling it cause I need cash for school and don't need a 2011.

 

+1

 

i still think 14 seems pretty high for an 01 x cab. you could always try to get him down a couple grand. money talks

 

I'd buy it for that price.

 

14.6K is what I paid with taxes and everything for mine in Colorado Springs, back in Nov 2011, and with 75K miles.


That truck is no steal, but is priced right.