Need advice! 2003 V8 for Sale

Hey guys,
New to the forums, looking at a Black V8 2003 with 200k Miles. The seller is asking for $8500. No accidents, 2nd owner (he's only had it for 6 months, inherited a second truck and selling this). Looking for some feedback on the deal!

Has some usual scratches on it, tear on the driver seat, rust on the shocks that need to be replaced soon.

Other than that its in great shape overall.

After doing some research I've determined I need to have the following checked at a PPI:
1. Timing belt change
2. Sticky brake caliper
3. Severity of frame rust
4. Engagement of 4-Lo
5. Locking center diff
6. Water pump status - determine if there is any pink residue

 

Your list is good, I think at 200k the price may be a little high

 

thanks, I'm thinking of offering $7k, figuring I'll have to put in $1500-$2000 right away (New shocks ($400) + labor) and timing belt (assuming it hasn't been swapped out twice yet).

 

He agreed to $7,250. I'm complaining a bit about the rust that he mentioned, although after speaking with you guys here, it really seem's like it's a non issue.

After fully discussing with him, there's a few fixes:

1. New shocks - still factory ones @ 200k miles
2. Timing belt needs to be replaced.
3. Minor nick in windshield, but hasn't spidered
4. Drivers seat has a rip on side near controls.

I'm expecting about $2k in repairs. Does $7,250 seem like a reasonable deal for this truck? (2003 V8, 200,000 miles)

 

id say 6500-7000 seems reasonable with the miles/rust/service or lack there of.

 

i think youre getting closer to a real good deal, as sam said that 6500-7000 range would be prime, especially considering the money you know you need to put into it/condition

 

Yeah he passed on $6750. We settled at $7250. Not sure if I'm being too picky over $500 but I just started looking over the last day or so