question about value, 1994 Extra cab, not mine

I'm a real estate agent in east Tennessee and the other day while on a listing appointment I walked out in the garage of my clients house and there sets a old Toyota truck in mint condition. The truck is a 1994 SR5 4x4, extra cab, auto tranny, red pearl color, with 67,000 miles. The body is mint and original and the interior looks brand new. It's a local truck that was bought new at a local dealer by his dad in 1994. Then he tells me he's going to sell it very soon because he has no use for it. Does anyone have a clue what the value would be on a truck like this? KBB shows $5,900 and as nice as it would be to buy it for that, I don't think that will get it. He told me to check around and make him an offer so I figured I would ask you guys.

This is not the truck but this is exactly what it looks like, paint color and wheels are also the same with grey cloth interior.

 

ill take it

 

I think he could get that much easily. That is incredibly low milage for a truck that will run forever (even more so if it has the 22RE). Hell I have the "bad" V6 and it has gone 225,000 miles and shows no sign of stopping anytime soon.

 

I had that exact same truck back in dark blue new in 94 & drove it 10 yrs 250k. The SR5 config was Toyota's top pkg. Did it have bucket sport seats & a sunroof? I have seen them on eBay go for 10k+. $5900 would be stealing it. The biggest downfall is its motor is kinda slow but would be an absolutely fantastic truck to own in the condition you describe.

 

I would pay it in a heartbeat. Paid $3,650 for my 1990 last year. It is in pretty decent shape with 262k on it. Was ready to pay up to $6k when I was shopping for a pre-Taco.

 

It has the 3.0 V-6, power windows, locks, cruise, no sunroof, towing package, and a new set of Michelins. The $5,900 is just what KBB has on it but like I said, I don't see him letting it go for that. If he would I would have cash at his door step tomorrow morning. I'm thinking somewhere between $8,000 - $10,000 would be a really good deal and from what I'm seeing on ebay it could bring as much as $15,000............not that I would sell it. If I wind up getting it, I would probably keep it as an extra truck and try to keep the miles down. I think in 10 years from now it would be even higher, especially if I could keep the miles under 80,000. As you can see from my signature pic, that's my favorite color also.

 

If you get it, protect the dash pad like no other!! Very rare to find one in good shape today.

 

I've been looking for another FJ60 or FJ80 Land Cruiser as an extra but if I could get this one I think I would just as happy with it. I had a 1989 extra cab back in 1995 and I've always wanted another one. I know the 3.0 engine isn't the best one but this thing has been taken really good care of and all service records are with it.

 

I agree and the great thing is, this truck has always been kept in the garage. His dad bought it after he retired so it's not been in the sun very much. I still can't get over the condition of this truck for being 20 years old. If it was a FJ80 Land Cruiser in that condition and miles, it would probably bring $20,000 - $25,000 or more.

 

Well I hope you get it!! Its great to see old school kept tucked away & discovered like that! Up here in VT everything just rusts away...that is what happened to mine especially the seams on the bed. No steel Toyota beds made it through our salt baths. What is nice is made in Japan quality. I never had one single issue, problem or vibe on mine. Loved that truck. Good luck

 

Only true issue with the 3.0 was the head gaskets. There is a good chance with that mileage it still has the originals. Swap those out immediately and you'll be golden.

Call Toyota and give them the vin, there is a good chance they will still replace them under the recall. It ended in 2006 I believe, but a know of quite a few people that got the work done for free still.

 

So would you guys agree that $8000 - $10,000 would be a good deal or is that too much? Obviously I'll try to get it as cheap as I can but I would like others opinions if I'm thinking too high.

As far as the head gasket, I'm sure if it's been replaced, it's in the records because I think he has everything ever done to it. My client told me his dad had everything done at the dealership, including oil changes.

 

Oh, my bad. I thought you were saying that the kbb value was too high. I would go $7-8 on the high side. It's still an old truck. Does the guy know what he has (that they are high value). Chances are, he just knows he has a 20 year old truck.

 

I think it would only be too much if the sellers didn't know what they had. That truck on eBay or those who know what it is & have $ well its 1 owner, gramps driver, all stock, dealer serviced kept in a garage....can you feel em out on what's their bottom line. Maybe they want it to go to someone who will appreciate it not just big bucks ...

 

The son doesn't have a clue what he has. I've sold a couple houses for him over the years and he drives a Jeep Cherokee so that tells me he doesn't have an appreciation for Toyota trucks or he would park that Jeep and drive dad's old truck. He knows it's in great shape but like you said, he probably looks at it as a 20 year old truck. He told me the only reason he hasn't sold it is because he may need a truck to haul stuff from time to time. He said since his dad passed away last year, it probably hasn't been driven 50 miles. When I left him the other day I just told him when he's ready to sell, I would like first shot at it. I tried not to act too excited and tip my hand but it was hard to contain myself. I would like to throw him a figure out just to see if he bites on it but I don't want to offer too much but I also want a chance at getting it. I think I'm going to try and get him to give me a price. He may just get on KBB and quote me the highest price and that's $5,900. If he does, I'll have me a cherry 94 Toyota truck

 

I take KBB with a grain of salt, I have never gotten a realistic price range from that site. However if you can use it as leverage to get it for under $7000, I'd scoop it right up!

Sadly though, if it's an investment, it doesn't sound like it'll be driven much . I hate to see vehicles that don't get used, no matter what they are. I'd be that guy putting 100,000 miles on my multimillion dollar vintage Ferrari, if I had the money ha ha.

 

I would show him the KBB and offer a grand more. That will give him something to chew on.

 

I just plugged in the values on KBB.Com with a Johnson City zip code. $5975 is private party retail for "excellent top 3%" condition, i.e. the price already accounts for the truck in it's current state. The same truck in "very good" condition drops to $5751.

Is there something especially desirable about 1994 pickups? It has lost the solid front axle by then and has the 3.slow engine. Can $8000 - $10,000 be better put toward a 1st gen Taco or 4Runner?

 

I hope all you guys that call it the 3.slow have actually driven the 3.0, instead of just jumping on the bandwagon. I have some news for you. When a stock 3.0 is tuned, maintained, and running optimal (not fubarred), they aren't as slow as everyone makes them out to be. Granted, they aren't as quick as the 3.4 or the 4.0, but for their time, they were pretty decent. Also, consider the power and torque that the 22re was putting out, and you will see the 3.0 was a bigger and quicker engine. Now granted, a lot of people are going to argue that the 22re was a better motor cause it's "bulletproof". Well, that's in the eye of the beholder. If you spend a few minutes on yotatech, you'll see there's a lot of people with issues on those 22re's as well. Yes, the 22re is a simpler design and has a timing chain, so it should be more durable, but I could make the same case for having a 2.7 over the current 4.0 (or the previous 3.4). All current issues with either engine need to be taken with a grain a salt, as they most likely have a lot of miles on them and definitely have a number of years on them. My 3.0 currently has 262k on it. How will your 4.0 be doing at that time? Time will tell. With all the current electronics, I'll bet you will have more money into that 4.0 when it has 262k and 24 years under its belt than the price of a head gasket.

And as someone who has owned both, the 3.0 in a pre-Taco is quicker than the 2.7 in a second gen. So it is comparative that it is a bigger engine in its class of truck body.

(Climbs down from soapbox rant)

 

Wow that is an awesome opportunity ! I would love to have an older Toyota truck in that great of condition as a 2nd. week end driver. Yeah if he has no clue what he is sitting on then I would offer him just a little over blue book and see what he says. You can always offer him more.