Rebuilt title values

So this isn't a 3rd gen Tacoma question, but I'm not a member of any other auto forum.
I'm looking at a new, used 4runner to replace the wife's 2004 with 275K.

I have seen and driven the vehicle and all appears copasetic.
Here's is the vehicle in question:

2012 4Runner Limited wrecked @ 100,000 miles, rebuilt and sold to it's new owner who has driven it another 22,000 miles since 2020.

Opinions and or observations?
Damage is consistent with a hard deer strike, and that is the story the current owner was given.
Price is 24K.

Before:
https://stat.vin/es/cars/JTEBU5JR3C5108140

Now:
https://chattanooga.craigslist.org/cto/d/cleveland-nice-2012-toyota-4runner/7676577962.html#

Thoughts?

Mods, if you would be so kind to leave this thread up for a minute, it beats another oil thread, yes? ¯\_(ツ)_/¯

 

2012's with similar miles, and clean Titles
https://www.cars.com/shopping/resul...limited&year_max=2012&year_min=2012&zip=37341

$24K is right in the middle of that data set. Why would you pay full price for a dirty Title?

 

I've looked at everything within 100 miles for three months and it's in better shape than any of them.
Hate the title for all the obvious reasons, but we do keep cars until the wheels are falling off. Sometimes literally..

 

I would take it . Damage is minimal. As long as it drives straight no weird tire wear, it’s a go for me. Check alignment. It’s it’s ok, I’d get it. Great price too. It’s a limited so it’s full time 4wd. You can’t heat that .

 

I'm leaning towards picking it up after work today.
Resale isn't an issue, because, as mentioned, it will be driven until it's days are done.

Thanks for your input, I appreciate it.

 

That’s a great deal. If it’s closer, I would take it if you won’t .

 

Would not pay more than $18k. Cars that have been in accidents with clean titles, deduct half the repair cost from accident free value. Rebuilt title, deduct the entire repair cost from clean title value.

 

I'm not familiar with that algorithm, but do appreciate the opinion. Thank you.

 

I like driving branded title cars. The pics of the one you are contemplating shows a vehicle with no structural damage that would affect the way it drives, stops, or anything that would affect safety. I've repaired two Tacos myself, in my own driveway, with regular tools. Both trucks were/are reliable after the repairs and were/are driven enough miles that they have proven that branded title vehicles can be expected to go as many miles as any unbranded vehicle with as few issues.

That said... I'd never expect to get 24K for a 2012 branded title 4Runner with 122K miles on it. I'm sure someone would pay that for it, but it wouldn't be me, and if the seller is not anxious to sell then he will probably not sell for what I would be willing to pay.

Branded titles are harder to sell... and that is the only real downside to me. Of course there ARE other issues if you want to insure the vehicle fully. I don't insure for collision and comprehensive so that isn't problematic to me... but insurance companies will rape you by charging regular rates for full coverage and then if you get in a wreck they will only pay out half or less on a branded title. And banks don't like to make loans on branded title vehicles.

The 4Runner looks like something that could be worth buying, but only if the price is right. Get it checked out by both a mechanic you trust and a good body shop, and I'm thinking the top price I would consider would be around 18K. I'd offer less to see if the seller is negotiable. If you are already in love and can't walk away, then get out your wallet.

 

Thanks for the rational opinion and the heads up on insurance. I was concerned about insurance and went as far as speaking to a supervisor with my insurance company this morning. Fortunately, they do offer collision and will pay out as if it held a clean title.

Owner appears to be holding firm @ 24K.
I'll be carrying cash, so we'll see.. Hundred dollar bills have a way of swaying one's heart in my experience.

 

I’d check your state? Some do not easily register rebuilt titles. Typically if they do you’ll need to have it inspected by a shop of their choice. Great deal but so is the Brooklyn bridge for $100. Good luck

 

If you are the last owner and it can be registered and insured, use your best judgement. We call them ranch trucks.

 

Are you financing that $24k?

Most banks won't loan that kind of coin on a salvage titled vehicle.

I buy all my Toyotas wrecked for cash and rebuild them.

As you do, I drive them until they have around 300k miles.

I have no fear of salvage titled vehicles, but be aware, the IC is only going to give you the bare minimum they have to if you total it.

If you total it (again), you can not expect the IC to give you the BB value of an unbranded vehicle...nor sould they. If they did peeps would by salvage titled vehicles, rebuild them then wreck them on purpose so they can get a good payout and buy something with a clear title.

I have never had any issues selling a Toyota with 300k on the clock. They sell for the same vehicle with a clear title.

 

Welp, it followed me home, and the wife will drive to work this morning in something a little safer than yesterday. As with all those that preceded it, it will be with us for the long haul.
22K.

Thanks to those who gave their input on what was clearly a questionable purchase.