Good Deal or Big Mistake

MrsJ · **Good Deal or Big Mistake**

I purchased a '99 Toyota 4runner for my dh yesterday for $8900 at 7.9% interest. Did I make a good deal or will I regret this purchase?

allgirls · 10-30-2007, 12:55 PM

I guess if you're asking then it's a mistake. Or are you asking about whether it's a good deal or not? sorry, I was lots of help.

allgirls

chevy_chick95 · 10-30-2007, 01:15 PM

how many miles does it have on it?

MrsJ · 10-30-2007, 01:46 PM

Quote:

Originally Posted by chevy_chick95

how many miles does it have on it?

It has 113,100 miles... V6 4x4 a few minor damages, like tore seat and small crack in windshield other than that the body is in good shape and everything works. The bank valued it at 11,000, which I thought was crazy.

chopey · 10-30-2007, 01:48 PM

That interest rate seems kinda high, but otherwise, it sounds like a good deal to me...I love that year's body style of the 4 runner, I wanted one when I graduated high school!

MrsJ · 10-30-2007, 02:23 PM

Bank said since it was old (higher risk) it has a higher interest rate. New vehicles rates run at 6.55% at State Bank and Trust.

momof2boys in il · 10-30-2007, 02:52 PM

Quote:

Originally Posted by MrsJ

I purchased a '99 Toyota 4runner for my dh yesterday for $8900 at 7.9% interest. Did I make a good deal or will I regret this purchase?

Well, I don't know if it was a good deal or not. Did you buy it from a person or dealership? I just bought a 2003 Ford Taurus....75K miles.....1 minor door ding. I put $450 in "tune up" stuff and I paid $4700 for it.

Claire · 10-30-2007, 03:02 PM

I went New Car Prices, New Car Reviews, Used Car Prices - Official Kelley Blue Book Site (Kelly's Blue Book) and made some assumptions. According to that (double check my assumptions and use your own zip code), the car was worth $9780 if it was in excellent condition. So, it sounds about right to me.

Kelley Blue Book - Suggested Retail Pricing Report - Toyota, 4Runner

desertmom · 10-30-2007, 05:07 PM

I don't think the interest rate sounds so bad for a used vehicle. We had a '97 Toyota 4Runner Limited and LOVED it! Our biggest issue was one that they kept denying, but after we traded it in, Toyota indeed did acknowledge the problem publicly. There was a problem with the passenger front bushings. We also had tire quality issues, which I'm sure, you're not on original tires.

But it was a great vehicle. I miss it.

However, you bought an 8 year old vehicle, so plan for maintenance costs. The timing belt, a/c, other things. I would get a full workup and have it checked out. Unfortunately, replacement parts are expensive.