About to pull the trigger. Thoughts?

I have been looking for a work truck for 3 months now. After countless hours and research, I have come to rest on a Taco! It's a 2002 Ext. Cab, V6, 5 speed, 4x4, SR5 and TRD, with 156000 on the clock. Little rough around the edges, but nothing I can't handle. I had it independently inspected yesterday, complete with special attention to the frame and a compression check. I'm already $150 into this truck and I haven't bought it yet! Small price to pay for peace of mind IMO. It comes with no service records, 4 bald tires, A faulty A/F ratio sensor, TERRIBLE drivers side LBJ and a few other dings. Dirty as hell! Nothing has been touched on it by the dealer, His employee is driving it. While this was good for me, cheaper price and true mechanical picture, It will not pass inspection. In Missouri, It has to pass an MVI before it can be sold. Unless it is being sold as a parts truck. I do not want the dealer putting his cheap crap on the truck, thereby disgracing its eternal majesty, and jacking up the price. I assume, as most dealers do, he "knows a guy" and can get it passed anyway. He is asking $8500 for it in its current condition. Any thoughts? I may be retarded, but I'm seriously considering it. I should never have driven it... Damn you sweet Taco allure!

 

Hmmm. I got my '05 v6 sr5 4x4 for $10500 with 131k on it, old man one owner with all service records. I had to drive to MS to pick it up, but it was more than worth the gas to get it. I think there are better deals to be had. Just keep checking Craigslist and Autotrader. I actually saw mine on ebay's classified ads.

 

^ Agreed. I bought an '02 that sounds about the same as the one you are looking at with 140K for $6200. It was a work truck and had some issues. I think I got a good deal here in CO.

 

I also agree with the other two posters. I would not jump too fast on this, I got mine over a year ago, it was a one owner, and she came from west texas, and she had spent her last few years as the ranch truck, but I only paid 3,000 plus some freight, got her off of ebay, the broker had a great rating, and everything was as sold. she was dirty, BUT, no surprises. uses no oil despite 183,000 miles, and everything that is important and expensive to repair is in great shape. without seeing the truck, myself, i think you should really think long and hard on this.

 

what did KBB say about the value? Iwould check that and then offer about 500-1000 less due to the unknown service record and the condition. people assume (correctly or not) that a clean truck is well maintained/cared for, and a dirty one isn't. also, remeber the V-6 has a timing belt. there is a good chance it wasn't changed at the 90K interval recommended by Toyota.

 

Thanks for the replies! I have always paid cash for my vehicles and never paid close to book value. This is my first financed vehicle. I don't have any previous credit on my record. Kinda sucks when you go house hunting and are told that your lack of using credit will net you unbelievable interest rates. And I thought I was being responsible... Anyway, so I'm financing. My old habits of buying rough cars, and fixing them up, may be too much to overcome. I wouldn't usually pay anything close to what he's asking. But, from what I've learned thus far, these trucks tend to hold their value and run a bit higher than KBB. I'm a 4cyl import guy myself, and it has always amazed me how much difference there can be between "book values" and what a vehicle is truly worth. I bought my g/f a 89 Honda Accord 4cyl/5spd with 90k, 4 years ago for $500. After a little refreshing and tires, It is still a great ,and reliable, car. To me, it's worth much more than I paid (which was pretty low) or it's value, irregardless of KBB or TMV. I am under the assumption these trucks are the reverse. Pretty expensive for used, but worth it. Every truck, but this one, hasn't lasted a week before it got snatched up. And they were mostly single cab 4cyl autos! Gas price driven, I would expect. I just don't want it to be "the one that got away."

 

I agree with all previous posts too. Seems there may be a better deal to be had somewhere else. I'm not standing in front of the truck but a bit of searching online can help you and your pocket book out. There are much better deals out there IMO. Good luck.

http://www.kbb.com/toyota/tacoma-xtracab/2002-toyota-tacoma-xtracab/pickup/?vehicleid=4882&intent=buy-used&mileage=156000&options=188668%7ctrue%7c188680%7ctrue%7c188686%7ctrue%7c188683%7ctrue%7c188692%7ctrue&condition=good&pricetype=private-party#survey

I'd be willing to bet, the dealer has maybe $3-4k in the truck.....

 

I did a bit of poking around craigslist in your area (Parkville). Not much in the KC area but venture a little, and there are deals to be had. Financing a vehicle of the age you are looking at may be the problem and whats gonna get you.
You should check with your local bank first to see what they can do for you. In most cases they will not lend on a vehicle loan for older than 10yrs but they may be willing to give you a "personal" loan. Most cases the intrest rate on the personal loan will be less than the rate from the dealer.

 

a few more words of advice. If you are financing a used vehicle you need to know what you are getting. anything used like that and the %finance is going to be high, and along with those monthly payments you will have to carry full coverage insurance, so with that and if you have a breakdown, that could break you. I have seen this circle too many times. step back and think about it, there are plenty of Tacoma's out there.