Evaluating a possible trade

I need some help evaluating a (possible) trade. I've got a turquoise '02 Lexus LX470 (= Land Cruiser) with 155k miles. Good truck with minimal rust and no significant issues. Though we've also got a Sienna, I do like that I can schlep everybody with the Lexus (I've got 4 kids). But I've been missing the utility of the pickup and the stick shift.

Enter my neighbor. He's got a silver '04 Tacoma Xtracab SR5 V6 4x4 with 212k miles. Stick shift, TRD. Body is in pristine condition. Frame has surface rust but overall is solid. Also has a matching cap on it. Neighbor's interested in making a trade for my Lexus.

Is this an even trade? Does it need any kickers, one way or the other? What else should I be considering?

 

Given that it's an LX, I would say no.

However, you will be trading into an 04 Tacoma TRD 4x4 with a manual. And in good condition. And it's a truck. Try to see how it would go if you were to sell your LX for market price, and also find what a similar truck like your neighbor's is worth around you.. if you can even find one in such condition and spec.

Very interesting scenario I would say

 

Thanks for your reply!

I'm unclear why you say it's not an even trade. Because my LX is superior? Or the Taco?

 

I'd argue that a 2004 access cab manual with 200K miles is worth 12K? An LX with 150K miles has got to be worth a bit more than that...

 

I agree. That's why I was thinking of asking for a kicker...

 

I’d say bad trade. Keep it if you really miss the bed buy a trailer to pull as a bed. Your engine is better with less miles. Probably get better mpg. You know how you took care of your car.

 

I'd have to say, regarding market value, it is not an even trade.

My SWAG would be that your LX is worth at least $2k more, and at most $5k more depending on condition and equipment. I'd probably propose a trade plus at least 2 grand on top of it.

Again, that's strictly talking market value. However, if this truck is exactly what you want and you're not likely to ever find another one like it, then market value isn't the only factor. If it's worth it to you, if you want it that bad, then go for it and don't look back.

 

That's helpful, thanks. I was considering asking for $3k on top of it.

 

Where has this truck lived?

You say the frame has surface rust, but did you dig deeper?

I know you have a Sienna (awesome rides) but you'll never get the family in the truck comfortably. Just a consideration.

 

Per Carfax: Washington state, Florida, Colorado, and most recently (where I live) Michigan. Assuming the rust is from the Mitten.

Definitely won't get the whole fam into the four-seater Taco—unless there are a couple of kids in the bed.

 

The frame needs a ball peen, probe and borescope inspection. Many threads here on where and how to tap, probe and look.

You don't want to be stuck with a failing frame.

 

That's super helpful, thanks! There isn't still an open recall, is there?

 

18 years and 200k is when you’ll start having trouble with other things too possibly. When was clutch replaced last. All pumps, filters, hoses, timing ,Ball joints, tie rods. Cv boots alt. And electrical things regulators all that. Ex.

 

As long as both parties are happy Go for it.

 

12 years from date put in service.

So '04's were done long ago.