Opinion on used Toyota Tundra

[Deleted member 9101]

This was another big factor I was considering, but I'm wondering if this is a concern with all modified trucks? If I bought a stock truck, modded it, then totaled it, you lose all the $ from the mods?

That all depends on your policy. I have accessory coverage and I have a file full of reciepts. As I add more mods, I'll up the coverage.

 

[al_burpe]

So? It does have pricing information... and a little big data/machine learning and they can extrapolate plenty from other sources (carfax, police reports, etc).

None of those sources would have information on if a car was sold for cheap because it had a bad transmission or one of dozen other mechanical failures that weren't part of an accident.

 

[bkg]

None of those sources would have information on if a car was sold for cheap because it had a bad transmission or one of dozen other mechanical failures that weren't part of an accident.

Does that really matter? throw out the statistical anomalies, do a little machine learning and you'll get decently close.

 

[Deleted member 9101]

Is the 4.7 a big downgrade from the 5.7? Seems something like this might fit my needs. https://reno.craigslist.org/ctd/d/rocklin-2004-toyota-tundra-sr5-4dr/7136270983.html

I did like the size of the 2nd gen, but have heard the the 1st gens are basically like a DCLB Taco w/ a v8.

The 4.7 is a damn near bullet proof motor...but it is a step down from the 5.7. It also has a timing belt that should be changed every 90k.

The 1st gens were basicailly a Camry with a bed (as one of my buddies said when I bought mine). Their rear suspension was soft, the transmissions were not that great, and they don't tow or haul all that well.

They are "good" trucks, but the 2nd gen is better in every way.

 

[MTVR]

Here is the KBB selling site list for 2nd gen Tundra, 100k miles max, 5.7L, 4wd, and only those deemed a "Great Value" by KBB, ordered by lowest price.

https://www.kbb.com/cars-for-sale/u...y=derivedpriceASC&numRecords=25&firstRecord=0

Cheapest regardless of condition is $14k. The 18th truck in the list (out of thousands) is >$20k.

Not surprisingly, newer vehicles with less miles, often have higher values.

And again, those are ASKING prices, not actual values...

 

[tacollie]

KBB is not an accurate way to access vehicle value. Post to the forum. Call your banker and insurance agents. Navy Federal thought my truck was wortj more than KBB. Allstate also says my truck is with more than KBB. USAA said it was with more than KBB before I switched to Allstate. To be clear my fancy shocks after not included in that value and if something happens I would be out that cash.

 

[Deleted member 9101]

To be clear my fancy shocks after not included in that value and if something happens I would be out that cash.

Why not get accessory coverage in your policy?

 

[MTVR]

KBB is not an accurate way to access vehicle value.

...and you are?

What makes you say that KBB is not accurate, and what makes you think that you are?

Navy Federal thought my truck was wortj more than KBB. Allstate also says my truck is with more than KBB. USAA said it was with more than KBB before I switched to Allstate.

What makes you think that?

 

[tacollie]

...and you are?

What makes you say that KBB is not accurate, and what makes you think that you are?



What makes you think that?

Banks will give loans way above KBB. They don't care what a vehicle is worth as long as you pay your bills. I considered taking a loan out for the Tundra when I bought it since we bought a FWC at the same time. Navy Federal was happy to go up $22k which blew my mind. The truck wasn't worth it.

I went back and forth about with the insurance agent about our policy. It's a 12 year old truck and I couldn't decide if full coverage was worth it. It was worth it on our 07 Tacoma when it got totaled. We get enough hail here I opted for it.

 

[tacollie]

Why not get accessory coverage in your policy?

I probably should but it's a 12 year old truck. I figure that stuff doesn't add much to the value of the truck and odds are it'll never be an issue. The suspension is the only mod. The most likely thing to happen is hail. If the truck was newer and I had more money in mods I would definitely get coverage. Our FWC is insured for more than the truck ?.

When our taco got totaled the insurance company let me swap any parts that didn't come on the truck from the factory with factory parts.

 

[bkg]

KBB is not an accurate way to access vehicle value. Post to the forum. Call your banker and insurance agents. Navy Federal thought my truck was wortj more than KBB. Allstate also says my truck is with more than KBB. USAA said it was with more than KBB before I switched to Allstate. To be clear my fancy shocks after not included in that value and if something happens I would be out that cash.

Going to disagree with you on a few things here. While KBB doesn't always reflect local market, it is directionally correct in most instances.

Banks will not lend you more than the vehicle is worth unless they BELIEVE there is low risk... and most will build a gap insurance into that loan.

There are always exceptions to the rule. Just look at bringatrailer.com. But for the general populous, KBB is a good barometer.

 

[Deleted member 9101]

I probably should but it's a 12 year old truck. I figure that stuff doesn't add much to the value of the truck and odds are it'll never be an issue. The suspension is the only mod. The most likely thing to happen is hail. If the truck was newer and I had more money in mods I would definitely get coverage. Our FWC is insured for more than the truck ?.

When our taco got totaled the insurance company let me swap any parts that didn't come on the truck from the factory with factory parts.

When my wifes Altima was totaled they paid me for every mod and accessory, I just sent them the reciepts. The stereo, window tint, trailer hitch, even the weather tech floor mats. I think I pay like 3.00 more a month for the accessory coverage.

 

[Deleted member 9101]

I went back and forth about with the insurance agent about our policy. It's a 12 year old truck and I couldn't decide if full coverage was worth it. It was worth it on our 07 Tacoma when it got totaled. We get enough hail here I opted for it.

I have always had it on every thing I own. It's not that much more expensive and it's saved my ass a couple of times. The free windshields are worth it to me...lol.

 

[tacollie]

When my wifes Altima was totaled they paid me for every mod and accessory, I just sent them the reciepts. The stereo, window tint, trailer hitch, even the weather tech floor mats. I think I pay like 3.00 more a month for the accessory coverage.

Really!? I'm glad I kept my receipts. I'll definitely look into getting they stuff covered.

 

[Slo_dak]

So, after some looking around, I have found this. https://www.facebook.com/marketplace/item/2342981062660921/?ref=messenger_banner

Similar miles, also black, also 6in fabtech lift (though not sure what kind/ quality yet), a 2007, and an F-150. Half the price.

To me, it seems to be a similar quality truck, right? I know Toyota has a reputation for high mileage/ reliability, but I have seen lots of reports of 250-300k F-150s of this era.
But it seems that F-150s sell for considerably less than Toyotas.

The KBB of this truck is pretty similar to the 2008 Tundra, I got 8-10.5k range for this F-150, with the Tundra at 10-12? However, the Tundras seem to be selling for at minimum a few thousand above that. Are Tundras of this era really higher quality than F-150s?

This F-150 seems to be a bit above KBB, (Facebook marketplace says 5.5 - 9, but that seems a bit low), but that is just the listing price.

I have ~16k cash and would prefer not to take a loan, though was considering a 5-6k loan potentially. If I could get this F-150 for ~10k, I'd have quite a bit leftover for potential repairs, service, or an offroad focused suspension upgrade. Would I be getting a significantly better truck if I shopped around more in the 15K range than 10k? Or could the extra cash be better used for customizing and maintaining a 10k rig?

Thanks for any ideas!