Is that correct, 427,000 miles?
427,000 isn’t to bad (I have one with 327,000) and would drive the Pan America tomorrow... if this van has truly been maintained then it can go another 300k with proper maintenance.
If your considering buying this is way over priced that is number 1. This is worth 5,500 tops. If the seller is willing to be realistic about the price then next step would be...
A. Engine
1) Check for any obvious fluid leaks, especially the engine valley, tranny weep hole area, and around the turbo and pedestal.
2) Check coolant with strips and find out the record of any changes or water pump replacement based on mileage.
3) If possible, do compression check, and Cylinder contribution test.
4) Inspect turbo inlet side vanes, should be straight and not dusted or jagged. Try to move the shaft in and out and up and down. Any real noticeable movement by hand is bad. Open and inspect air cleaner assembly for an idea of how it was maintained.
5) If possible, have fuel pressure tested at engine to check pump.
6) Check all intake /intercooler boots for residue or leaks and corrected before trying to determine engine condition If leaks or residue is present.
7) Look at oil pan for notorious rusting, make sure not beyond repaint type repair. If this was a Cali rig its whole life not to much of a concern other than the ocean air, but still worth checking.
8) Know whether you're getting forged or PMRs. 99-mid 01 = forged, anything later is possible or for sure PMR. This won’t be an issue Unless you tune or put performance up grades on it, & until you exceed 400HP.
B. Transmission, driveline.
1) Look for any obvious leaks.
2) If a 4wd (this isn’) but for future reference it’s worth having. With the system in 2wd, grasp and rotate both front drive axles and ensure they rotate freely. Go to the hubs, ESOF and manual should rotate from lock/auto to free with no problems.
3) Grab rear driveshaft and push up and down along it's length checking for worn u-joints or bearings.
4) Check front and rear differential levels. (An indicator of maintenance) Level should be at or w/in 1/2 inch of check plug. For this van just the rear.
Test drive. If you have never owned a 7.3 PSD, try to get a 7.3 owner to test drive it with you. I’ve owned 5 to date. I did this with a friend when I bought my first 7.3 truck back in 97. Invaluable evalation because you have no idea how a 7.3 drives. A stock PSD may feel like a slug to the gasser uninitiated but it can pull a house off of it's foundation. So they drive quite differentl.
Startup. Turn key and watch wait to start light. The colder it is the longer it will take but should take no longer than 15-20 seconds on even cold days. Start engine. Should crank readily and turn the tach while cranking (although mine does not). Should start within 2-5 seconds of cranking. The colder it is the longer it will take but if longer than 5 seconds there may be a problem. Even in colder weather. If it does not not start easily on the second try, suspect problems, possibly in the glow plugs or GP relays. If it does not crank readily, or seems to drag, suspect batteries first, starter next, then cables.
Driving. Check all operational items. Don't be rushed. This is a investment and you want to get it right and at this mileag you’ll probably be the last owner.
7.3 Performance. There should be no hesitation in the PSD 7.3 when all is in working order. Any hesitation is an indicator of a problem. By design, if all is in order, at throttle tip in, it simply responds. No excuse such as mileage considerations. If there is hesitation this will equal a repair bill...
OK so my OCD just got the better of me but this is my humble opinion on what to look for when buying a high mileage 7.3psd.