What would it take to fix this? Worth it?

Hi guys. I'm new here and NOT a mechanic. I'm looking at picking up an old Tacoma and need help deciding. Found one that seems like a good deal except that it "Needs: rack & pinion bearings and the head gasket is leaking a little oil". Can anyone tell me if it is worth the $4600 he's asking? I live in Seattle. I've searched the other threads and didn't find anything that could help me. Here's the rest of the details:
Toyota Tacoma, Extended Cab
'97
245,000 miles
V6, 3.4L
4WD
Automatic
AC
Single CD, AM/FM Radio
Tall Pickup Shell
Alloy Wheels, Wide Tires
Black
Tow Package - 2" receiver
Sliding Rear Window
Good Condition

$4600 OBO

 

Sounds to me like the seller doesn't even know what's wrong with it?

Can you take it to a mechanic and get a quote on repairing whatever needs to be fixed?

Factor the repair cost into the purchase price and decide if it's worth it to you...

 

That's a good idea, thanks.

 

FWIW - That's a good looking little truck! Maybe some of that work could be put off to the near future...
Even if it cost you a couple of bills for the mechanics evaluation, you'd at least know what you are getting yourself into...

Good luck!

FYI - if you are even slightly mechanically inclined, these are pretty easy vehicles to work on...

 

Pray4surf, I've done a bit of work on my vehicles in the past. Is replacing a steering rack something that's not too difficult/expensive? I could probably get a used one.

 

The steering rack isn't too bad. Just awkward if you have to lay on your back. Probably a couple of hundred for a reman rack, less if you can find one used/salvage... Wasn't the easiest thing I've had to do on my truck. And I don't look forward to doing it again. (Mine has a couple of leaks that need attention)
O'Reilly's lists the unit in my area at $300

 

That is a good lucking truck. However, I would be fearful of the statement that "the head gasket is leaking a little bit of oil." I would want to find out exactly how much oil, and how long it has been leaking oil. I know these trucks hold their value, and I have no doubt that it will go 300k and beyond, but $4600 seems like a lot for a vehicle with 245k miles. I personally would not buy it, but I do not know your budget or situation.

 

Id offer $4000

 

devinzz1, that's what I'm thinking. Actually, I was gonna offer $3500, and take $4000.

 

Where is it located? That's a factor too. I'd say for that amount of miles I'd offer like 3,300 and try and get him to take 3,700. Look at the frame too! Make sure that b!tch doesn't have major rust!

 

FlyFishVA, I thought the price wasn't too bad, actually. I'm guessing prices are lower in your area. Check out the others in my area: http://seattle.craigslist.org/search/est/cto?auto_make_model=toyota+tacoma&max_auto_year=1999

 

Answering my own question with Seattle. Snow up there? Salty winters? Beware the frame rust!

 

Rockguitar316, Seattle area. I'm guessing prices are a little high around here. Everyone wants a Tacoma!

 

Yeah, they do salt the roads here. I'll be sure to inspect the frame, thanks!

 

Low ball him if you're okay with the high mileage. Sell the camper shell and use that money towards the parts. Install parts yourself and learn more about the truck

 

But I want the canopy!

 

IMO the prices for 1st gen Tacomas everywhere are way too high, but the market dictates the price, and it's only worth what someone is willing to pay, etc, etc. I think @rockguitar316 has the right idea price wise. That's a $3000 truck to me, and the premium for getting what you want is worth an extra couple hundred bucks, but not 50% of the truck's value. But again, just my opinion. If it is what you really want, and the money is right for you, go for it!

ETA: The head gasket would be my primary concern.

 

how does the head gasket leak oil? Maybe it's the common cam cover bolts are not tight enough lol Good looking pickup for sure. I'd say it's worth 3500.