need help evaluating and valuing a 2000 LC

[FatJoe]

Okay, I'm new to LCs and the forum. Did some searching around and reading many posts on 100s, but still need help evaluating and determining a value for a 2000 LC. Also, what are some common problems to look for, etc.. If I missed an existing post, appreciate being directed to it or hints on what to search for... thanks in advance!

Basic info on the truck:

- 2000 LC
- black w/ tan interior
- 136,000 miles
- asking price: $12k

Other things I noticed when looking it over:

- maintenance records only go back as far as the current owner (~1 yr - bought it for a son that didn't want it)
- Engine seems to be running strong, serpentine belt and battery were recently replaced
- Brakes solid & no noises
- Probably need shocks (considering a suspension upgrade anyway)
- Will need tires almost immediately (not a big deal, as I'd want to pick tires anyway)
- Driver side rear bumper was rubbed against a wood sign post. Superficial scrapes will require fixing or a new bumper.
- Some rust on the bottom edge of the rear upper tail gate. Is this a common rust area?
- Sun roof does not open or tilt (got stuck when we tested it)
- Some corrosion on the mounting brackets under the front seats. Is this common or does it seem strange?

Does any of this sound like more problems lurk below the surface? Or does it sound more like common issues for a 16-yr-old truck? Hard to evaluate all of the motors for the seats, windows, etc., but they appear to be in good working order. Are these things to be worried about? I am located in Virginia, so it seems that rust free may not be common on a vehicle this old. My gut is telling me it is over-priced, especially considering some of the know issues.

I appreciate any input you can provide. Hoping to join the ranks!

 

[Ricks_Adventures]

I'm actually picking up the lexus 100 series Wednesday, and it's a 2001 model(lx470). It has corrosion in the same areas though. Two quite small patches on the bottom of the upper lift gate around the plate lights, as well as some corrosion on seat mounting brackets.

I'm getting mine a good bit cheaper, but the reasons for that are:
-The dealer took it on trade, was planning to sell at auction/wholesale for what he gave for it.
-He thinks it has a coolant issue and isn't worried about looking into it (i'm 99% sure it's an $8.00 heater t fitting, as I've spent a few solid hours giving this beast a run down).
-The LX has 212,*** miles..

While I'm quite content with it, despite the miles(my truck has the same motor + 12,000 miles and I trust it implicitly), I wouldn't mind one with a few less trips around the globe. That said, I saw a '99 100 series at the auction I work at with 406,*** miles. My bet is that you're good. It's a great vehicle. I can't wait to join with you!

Cheers,
Rick

Sent from my XT1254 using Tapatalk

 

[MarcFJ60]

The price seems on the high side. The upper tailgate is a common area for rust. But that doesn't mean a rusty tailgate shouldn't lower the price versus a spotless 100 series.

Does he have a record of the timing belt being changed? It was due at 90K. If there is no record or no proof (sticker in the engine bay), I would plan on doing that and the waterpump ($800-1200).

Without seeing it or know more details, I would ballpark around $10K for that based on mileage, maybe even less. That said, mileage is far less important than maintenance and condition. These will run 300K+ if taken care of. From your brief description, even with the low miles, it doesn't sound like it was impeccably maintained. Not saying that you shouldn't buy it, but not one I would overpay for.

Edit: Google the Slee Landcruiser buyers guide. There were several changes to the 100 series over the years and it is somewhat reflected in the used market. Notably, 2000+ has a stronger front diff and went to Atrac and did away with the rear locker. 2003+ got the 5 speed auto. 2005+ got the more powerful engine. The 2000 and 2001 (maybe early 2002) may have a higher incidence of failing transmissions at higher mileage, but I'm not sure how widespread that is.

 

[FatJoe]

Thanks for the input. Not sure this one will work out because of price. Seller has an offer that I am not willing to beat. Plan to throw him a number in case the first buyer falls through. Slee's Land Cruiser newbie guide is great, though! Will definitely come in handy in my search.

Thanks again, Rick and Marc.

 

[ppdd]

I'd agree with MarjFJ60 on this.

Even spending $10K on it, you'll probably come out behind a more expensive impeccably maintained one after a year or two of ownership. You can very, very easily spend $2K-$5K just catching up on maintenance on any vehicle, let alone a 100 series.

I "overpaid" for a 2002 with 145K on it at $14K, but it was owned by a moderator on ih8mud, had zero rust, and came with a maintenance history that meant I wouldn't need to touch the wheel bearings, timing belt, shocks, steering rack/pump, brakes, starter motor/contacts, tires, battery, fetc for the next few years. All I have to do is keep up with maintenance for the next 150k miles.

Buy the best maintained one you can find at your price, for sure.

 

[larrydallas]

The price seems on the high side. The upper tailgate is a common area for rust. But that doesn't mean a rusty tailgate shouldn't lower the price versus a spotless 100 series.

Does he have a record of the timing belt being changed? It was due at 90K. If there is no record or no proof (sticker in the engine bay), I would plan on doing that and the waterpump ($800-1200).

Without seeing it or know more details, I would ballpark around $10K for that based on mileage, maybe even less. That said, mileage is far less important than maintenance and condition. These will run 300K+ if taken care of. From your brief description, even with the low miles, it doesn't sound like it was impeccably maintained. Not saying that you shouldn't buy it, but not one I would overpay for.

Edit: Google the Slee Landcruiser buyers guide. There were several changes to the 100 series over the years and it is somewhat reflected in the used market. Notably, 2000+ has a stronger front diff and went to Atrac and did away with the rear locker. 2003+ got the 5 speed auto. 2005+ got the more powerful engine. The 2000 and 2001 (maybe early 2002) may have a higher incidence of failing transmissions at higher mileage, but I'm not sure how widespread that is.

Actually more power didn't come until 2006 model year. That also meant AHC was added. Not all models have AHC but most do. Something to consider if you want to do a lift and will be adding weight (will need an AHC removal).

 

[FatJoe]

Just to close this thread... didn't get the LC. Recently found an '03 GX470 that is in much better condition. 104k miles, very clean, no rust. More than meets my needs for now (wife's daily driver),and maybe someday will turn it into more of a toy.