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Fair price in the south?

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Old Feb 27, 2024 | 05:52 PM
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Default Fair price in the south?

New to the forum. I am looking at a 2007 HSE, 131k miles. $8.5k. Never been off-roaded. No rust at all, incredibly clean. No leaks, suspension is good, transmission is good. Wheels wouldn’t be my first choice but I like them and prefer them over stock. I like the roof rack and ladder, I will probably remove the aux lights. It’s my favorite one I have seen and I like the seller, well maintained though I plan to do an inspection before. Checking to see if price is fair as I am new to this though I have loved the LR3 for a long time.

 
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Old Feb 28, 2024 | 08:10 AM
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From: Coastal NC
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No real way to know unless it has comprehensive service records and you get an inspection, but maybe. The 07 SE (with pretty much all the HSE options, including HD rear diff) with 130k miles I bought from a private owner about 18 months ago was listed for $7500. Clean carfax and was able to trace the car through owners to be comfortable it hadn't lived in areas that salt roads, etc. No rust, no leaks. Only noticeable problem was the battery light was on. I paid a local indy to do a pre-purchase inspection. They identified a handful of items needing to be addressed, including the alternator going bad, and some routine maintenance that they couldn't find in service records (like spark plugs and brake pads/rotors). Other items I wouldn't have picked up on myself included a wheel bearing just beginning to go and the propshaft carrier approaching failure. I don't remember the full list, but I used it and their initial quote to negotiate down to $5,500. My goal at the time was to make sure I could keep all-in cost for year 1 below $10k (knowing I could easily do half the needed work myself), on the idea it would be highly unlikely I could ever get more than 10k out of it even with everything perfect. A suspension airbag went not too long after buying it and I decided to replace the front diff to address a whine that was beginning, so I probably ended up having $11-12k in it at end of year 1, but it is a great vehicle and in really solid shape for its age so I'm not worried as I plan to drive it as long as it lasts. I do expect annual maintenance/repair to average out at $3k-$5k/year, so not cheap, but I couldn't buy a vehicle this good for that cost.

So, if all the maintenance can be verified as done and it checks out with no/few issues, $7,500 could be a good deal. But that could go from good deal to upside down quickly if there is work to be done, particularly if you need to hire out all of the work.
 
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