To buy or not to buy

J

JoelB

Joined
Jun 27, 2016
Messages
1,351
Location
Minnesota
Coworkers family member is selling a little S10 and has offered to sell it to me for a pretty good price considering the current truck market. I wasn't looking for a vehicle really, especially not a little truck since I've given up on finding a nice one around here. I know I could make money on a flip but I live in a townhouse so it will sit in my driveway and need to be moved around occasionally which can be a pain.

The details: 2003 S10, regular cab, short box, 2.2 4cyl, auto, 67k miles. From the pictures there is no body rust. I have close ups of cab corners and rear wheel wells and see no bubbling. Photos of the underside show surface rust, but nothing more than that, uncommon around here. I believe I could get it for about $3k.

Considering I'm in the rust belt and this is a fairly rare find, would you go ahead with it if it was you? It will take 6 weeks at least to get the title so I'm committed to it at least that long. If I did buy it I'd do a huge detail on it and get it looking as new as possible. Probably a few new fluids then cruise it around with the wife.
 
Just to clarify, the longest I'd keep it would be into the fall. So no matter what it's a temporary purchase to tinker on this summer.
 
JoelB said:
Coworkers family member is selling a little S10 and has offered to sell it to me for a pretty good price considering the current truck market. I wasn't looking for a vehicle really, especially not a little truck since I've given up on finding a nice one around here. I know I could make money on a flip but I live in a townhouse so it will sit in my driveway and need to be moved around occasionally which can be a pain.

The details: 2003 S10, regular cab, short box, 2.2 4cyl, auto, 67k miles. From the pictures there is no body rust. I have close ups of cab corners and rear wheel wells and see no bubbling. Photos of the underside show surface rust, but nothing more than that, uncommon around here. I believe I could get it for about $3k.

Considering I'm in the rust belt and this is a fairly rare find, would you go ahead with it if it was you? It will take 6 weeks at least to get the title so I'm committed to it at least that long. If I did buy it I'd do a huge detail on it and get it looking as new as possible. Probably a few new fluids then cruise it around with the wife.
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Well, according to your signature, it would be your biggest vehicle.

If you want/need one, buy it if you like it. If you are looking to flip it, etc, what are the costs for tax, tag and title fees to then turn around and sell it? (Not sure how much of that you have to pay up there. Tax man usually gets a cut no matter what. Costs to get the title. Add license and insurance if you are driving it and it adds up to real money. Which is why there probably isn't much in a flip if you have to own it for a while.)
 
MN has a lovely rule that as long as the car is over 10 years old and you pay less than $3k for it you pay a flat $10 tax. So transferring the title is under $50. I'd have to insure it but I pay month to month so it would be like $30 a month I would guess.

I think there is more than $1000 to be made on it cleaned up. Truck market (yes even baby 2wd trucks) here is just insane right now.
 
A regular cab s-10 is small and relatively tight. I own one. But it seems like you’re used to driving small cars, so maybe that’s not a big deal.

I don’t know kbb or other valuations on those. Obviously the v6 is more desirable, but the 4cyl will be more frugal. You may not need a ton of excess power if you and your wife are just cruising around.

Theyre decent trucks, parts are cheap. Mine has about the same mileage but is a 98 4wd. Short of one vacuum issue which I’m fixing, everything works. No real complaints. Could it be larger? Sure. But you know that going in.

$3k for that may be high, but the market is high... I’m sure you can get another 30-100k mikes on it easy. If really clean and in good shape, it doesn’t sound bad assuming that the deal is decent.

Maybe watch one like this and adjust accordingly. Extended cab is worth something, v6 is worth something, but how much? $1000 total? Kbb or other price guides might at least help you understand the premiums associated with certain factors. This one is about the same age, had a dent, but looks good and is similar mileage. The xtreme ones go for more like $9-10k.

www.ebay.com

2001 Chevrolet S-10 | eBay

2001 Chevrolet S10 LS Extended Cab. Sold as is. Hood has been replaced. No visible rust. See photos to fully appreciate. No broken glass. All lights work. Clean clear title.
www.ebay.com

Not sure if it’s a good flip, unless you can get a significant cost reduction - money is made at the buy, not based upon how much detailing or fluid changes you do. So the question really is if it will bring you and your wife value.
 
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I've previously daily driven a Mitsubishi mirage and Chevy spark so size and power are pretty much never a concern of mine.

Here are some pictures. It's definitely what I would consider "grandpa spec". But I think that's kind of neat.
S10 (1).JPG

S10 (2).JPG
 
No. Trucks are in high demand but that one doesn't really check any of the demand boxes other than being a truck. And at 3k I'd say there is no room on it at all anyway.

Now if you wanted the truck to keep (doesn't sound like it) probably a decent buy.
 
JoelB said:
I've previously daily driven a Mitsubishi mirage and Chevy spark so size and power are pretty much never a concern of mine.

Here are some pictures. It's definitely what I would consider "grandpa spec". But I think that's kind of neat.
View attachment 55576
View attachment 55574
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I kinda like it too. Simple plain Jane.

But if parking is a pain, and you don’t have a good use for it, then it becomes in the way. Sometimes one has to pass up on a good deal, like when it doesn’t solve a problem and/or makes more problems than it is worth.
 
Great miles but when you go to sell, you're competing with all the $1000-$1500 S10 trucks out there. Most people sort by price so yours will be at the bottom of a search. While the low miles is attractive, most people won't pay all that much more for it over a high mileage truck that runs good.
 
While that truck is not for me, I am sure there is a market out there.
Your cost may include licencing, insurance and perhaps tires?
Do you have adequate parking for another vehicle?
It looks pretty clean. If you want the truck then go for it.
Good luck.
 
It's probably a dog with the auto, but it looks pretty clean and the mileage is low. I'm sure you could baseline it and it would run for years with simple oil changes. If it was a Nissan/Toyota, it would peak my interest, but I'm not sure I could buy a Chevy. BTW, that would sell pretty quickly in southern CA or AZ.
 
ryster said:
Is this 2WD? If so, it would be a hard pass. 2WD trucks are a tough sell.
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Respectfully, maybe in PA. I live in the N. Georgia mountains which is definitely 4WD country. I brought my 2WD 2015 GMC Sierra 1500 with us when we purchased our home up here. When we decided to sell it last year we posted it for sale on Facebook Marketplace. I had a buyer (and he did buy it) within four hours of the posting. I never expected it would happen that fast.
 
atikovi said:
Great miles but when you go to sell, you're competing with all the $1000-$1500 S10 trucks out there. Most people sort by price so yours will be at the bottom of a search. While the low miles is attractive, most people won't pay all that much more for it over a high mileage truck that runs good.
Click to expand...
You can currently buy used trucks in the $1000-$1500 prince range right now???
 
Kind of a neat simple truck, but a trailer makes your Sonic just as capable. We have a hobby farm, but without 4wd a truck like that is pretty much useless. I guess if you need/want a 3rd vehicle probably that truck will not depreciate at all anymore atleast.
 
What's really funny about this is that most people responses are practical and responsible financial advice. Traits I also use in most decision making processes. But in this case the fact that it's a truck is kind of irrelevant to me. It could have been a convertible, hatchback, sedan or anything else. It's just a vehicle that has fallen into my lap as an option for purchase. No dealing with craigslist creeps or Facebook marketplace buffoons.

I don't need it, I have no use for it, practically speaking I shouldn't bother. But there is a little tug in my brain saying I could detail it for days. Get under the hood and tinker, drive it and get it all sorted out.
 
If it's cheap money and you know it's a "toy" then go for it. Figure out how much you are willing to spend, set up a budget, and have fun. I can think of hobbies that I enjoy that I do basically that: the money is spent to buy happiness, but when I think about "going to the next level" I always make sure to check that it a) will actually make me happy and b) is it inside of my budget.

My wife just gave me permission to buy something like this, kinda ironic in timing.
 
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