We Help a Used Car Buyer Find a Cool SUV
This episode is a follow up to episode 2 where we introduced Nic Bodiford and his search for a used 4-wheel drive SUV under $8K. Nic followed our five simple, yet essential rules to find a cool use car, truck or SUV at a great price, and he ended up doing just that after only a couple of weeks of searching.
He began his search looking mainly for a Toyota 4Runner in the 1998-2002 model year range. He also looked at Isuzu Troopers and Rodeos, the Mitsubishi Motero and the Rodeo-based Honda Pilot in a similar model year and price range. Most of these were 6-cylinder vehicles, but he ended up finding something just a little bit different with a V8!
00:00 - Show Open and Introduction
I reintroduced Nic and his search for a cool SUV, plus I gave a quick rundown and review of how Nic used the 5 essential rules to find a cool used 4x4 SUV at a great price.
04:15 - Nic reveals that he bought a first generation 2002 Toyota Sequoia
Nic goes into detail on why it fit his needs. He talks about how he had considered a 4Runner of the same vintage and was looking for specific features including 4-wheel drive with dual range (high/low) transfer case, vehicle stability control (VSC), Active Traction Control, etc. The Sequoia has all these features and is a garaged, one-owner SUV with 177,000 miles, excellent interior and exterior with extensive maintenance records highlighted in the CarFax.
08:00 - It's got a 4.7-liter V8!
08:20 - "Post Purchase" Inspection
Nic took it in for a post-purchase inspection and found only a couple of very minor issues, but overall the Sequoia is in excellent condition cosmetically and mechanically.
09:20 - The Price
The asking price was $7,000, but Nic negotiated down to $6500 and with tax & license paid $7200 total. Gary said the Sequoia was probably worth at least $2000 more based on what he's seen for sale in recent months.
10:45 - A One-Family-Owned Sequoia
The owners were great and even gave Nic back $50 to fill the tank with gas (say, but with today's gas prices, $50 hardly fills my Miata!).
11:20 - A Picture is Worth a Thousands Words, But An In-Person Inspection is Priceless.
Gary said that Like many car ads, the Sequoia looked good in the pictures displayed in the ad, but it looked even better in person and only had a few minor blemishes on the exterior that can be easily touched up. Some cars look worse in person, so seeing it with your own eyes is essential.
12:40 - There's an Arrow In It
Nic tells the story of one 4Runner he looked at while car shopping that had a steel arrow shaft and feathers for a radio antennae.
13:45 - The Best and Lowest Priced Used Vehicles Last A Day... Maybe.
Nic mentioned that he learned from this experience that cars in this price range sell very quickly and that you have to drop what you're doing and go see a car you like immediately if you want to have a chance to buy it.
14:36 - Cars Outside Urban Areas May Take a Little Longer To Sell
Nic thought that since the Sequoia was about a 45-minute drive north of Seattle, the time/distance may have kept it on the market longer than a vehicle in this condition would normally be available.
15:00 - Search In As Wide An Area As Possible
Gary recommends searching a wider area when looking for a used car - even looking in adjacent states. He then tells the story of a car he bought from someone in Salt Lake City and how he flew out and drove it back on the same day. 20-hour Fly & Drive Road Trip!
15:50 - Do Your Research To Know What You Want
Gary asked Nic if he had learned anything he wanted to pass on to listeners. Nic said that when buying in the future, he will definitely impose a wait time to make sure he does research to know exactly what he wants. He said that was invaluable this time to finding the right SUV.
16:30 - Don't Forget The Pre-Purchase Inspection
I typically recommend a prepurchase inspection (though in this case Nic felt comfortable buying the Sequoia with just the maintenance information from the CarFax).
17:15 - Don't Forget The Little Things (Like Wheel Locks!)
Gary mentioned that when buying a used car with wheel locks, be sure to ask the owner if they have the wheel lock key. You don't want to be stranded by the side of the road with a flat tire you're unable to remove simply because you can't find the key.
18:00 - Weigh The Pros & Cons of Passing on a Pre-Purchase Inspection
Gary also mentioned that while it's best to have a pre-purchase inspection, sometimes owners of cars that are low priced (under $5000, for example) will not allow you to take the car for an inspection since they just want to sell to the first person willing to hand them cash. As a buyer, you need to weigh whether you are comfortable not having the inspection.
19:15 - Get A CarFax or AutoCheck History Report
Nic bought the three CarFax bundle for his search and used all three over the course of a couple of weeks. Gary said he recommends CarFax, especially if the owner doesn't have or cannot find their maintenance records (often times some of the maintenance info is listed on the CarFax report, but paper maintenance records are best).
20:00 - Talk To Mechanics Who Serviced The Car (if possible)
Nic was happy to have access and contact info for the mechanics who had serviced the Sequoia in the past. He got lots of positive reviews and useful information from them about the Sequoia, and that was key in helping him ultimately make the decision to buy it.
21:00 - Thanks again to Nic and Show Wrap
