Buying a high mileage 1st gen

I bought TWO Tundras this year. Admittedly I smartly strategically did it during the Covid car sale slump and got extraordinary good deals paying cash. I got a lifted impeccable 4x4 2000 with 1/2 the miles for 20% more than yours, and a excellent condition 2002 2WD with 240k miles for a LOT less than yours. So even though it was a unique situation, I'm basing my experience to say you may be overpaying.

ALWAYS run a carfax and title search. $30 cheap peace of mind. I've walked away from a few that had suspicious entries in their records or other concerning issues.

Assuming it's rust free, good service records, no problems, clean title, $5k is probably at the top end of what I'd pay if I needed a good truck. I'd probably offer $3k cash and see what the response is. Yes, these can seemingly go for many more miles, but it depends on a LOT of factors including maintenance history. I'd need to see records and verify big things were done (timing belt, serpentine belt, oil changes, transmission service, water pump, bearings, etc.). If those were done at mandated intervals, the miles aren't as big of a concern and $5k would be more reasonable. I'd still shoot for $3k.

Without records, it's an expensive gamble. Carfax might have some generic records. But if no records and you still want to take the gamble $3k is where I'd start.

The engines can handle 300,000 miles. We hear about 400k, 500k, or a lot more. But the average vehicle is going to be aging at 300k miles. But other parts break down - rubber hoses, seals, interior parts, seats, door handles, hinges, etc. Try to spot check EVERY ITEM and negotiate down even a bit.

 

Agree with everything you say. Truck did check out mechanically, zero rust. Some very small repairs were needed which the owner already had the parts for. We negotiated, his asking price was 5600 and he ended up firm at 5k. I ended up buying it a few days later. So far so good! Bought everything to rebuild the front end, and just working on doing all the PM stuff I can do.

 

Pay attention to all of the rubber parts, many will be dry rotting and cracked by now.

 

Read every post by PHM and comply with his standards and it'll be like new again. Or do about half of it and it'll be like new again!!