I have an opportunity to buy a 1 owner, limited ultimate 02 Ex 7.3. Approx 175K miles. Very clean. Regularly dealer serviced. Carfaxed. All stock, no mods. If I look at blue book and edmunds, estimated values are:

Edmunds: $6500, 7400, 8900 (trade in, private party, dealer retail)
Blue Book: $11,900 to $14,000 (Buy from Dealer) $13K fair market

Thoughts on what I should pay or pricing strategy? The truck is pretty mint; not a lot to gripe about. I had it inspected by a dealer and all they could come up with was a possible Y pipe gasket replacement. "Other than the body in the back, car's tip top!!!" - Jules Winnfield

Seller's asking $14K.

I want to negotiate this tomorrow, so any thoughts you can provide by the morning would be great.

Regards,

DJ LPM

 

Based on what I put myself through over the last few months looking at other Excursions and having people on here that know ten times more than I do about diesels tell me "That's a lot of miles for the money" I feel educated enough to repeat that to you. For 14k a 2002 should have a lot more to offer than just a clean carfax. Just my two cents though.


Also might want to finish up your profile so your location is shown. If someone is close you might get a hand in checking it out.

 

Thanks Apocalypse. I've only been looking for a couple of weeks and this one seems like the cleanest one. Others have been lifted, chips, etc, but I'm looking for a bone stock if possible.

I've seen other 7.3's on Craig's and Autotrader for anywhere from $10K-$20K depending on condition. Anything with less than 100K miles seems to be getting a premium over $20K.

Truck is in Utah. I'm in L.A.

 

I looked for about 6 months before I bought my Ex. In October of 14 I bought a 2000 Limited 4X4 7.3 with 95k miles. I paid $10,500. Mine had a bit of body damage, a good size dent on the back right corner, and needed a few parts to make it fully ready to drive. I also think the guy didn't know what he had because I feel he could've gotten way more for it, even with all that work it needed. I say all that for perspective.
What you are describing actually sounds like a great deal. I have seen a ton of nice Ex's go for way more. This Ex you're looking at also seems to be a bit on the rare side being the limited ultimate. I have seen plenty of Ex's with 175k miles sell for more than $14k. In fact when I was looking, there was one guy that had an 01 Limited 7.3 with 180k miles for $14k. A dealer bought it and had it for sale the next week for $18k.
So to make a long opinion short (too late) based on what I have seen of Ex's here in Texas what you have there is a good deal. Please know that rust doesn't enter the equation for me here in Texas. If there are rust issues with this Ex you are looking at, then my response is probably null and void.
One last thing to keep in mind is bank loan value. Regardless of the market, if you can't get a loan for the price of the truck, assuming you don't have cash, then that's an issue. My Ex's loan value was $10,500 hence the reason I paid that amount. I used it as a negotiating tactic but again, I don't think the guy knew better. That won't always work.
Sounds like a good price, check loan value, post pictures for us. Good Luck.

 

Thanks JuanHuevos. That is helpful.

I had the inspection check for rust and they didn't find any. I will check myself before I commit.

 

Thanks JuanHuevos. That is helpful.

I had the inspection check for rust and they didn't find any. I will check myself before I commit.

Granted I've only been looking for a couple of weeks, I've had similar experience in terms of pricing. The only thing that threw me off was the Edmund's TMV. The guy clearly priced to Blue Book, but it sounds like real market values tend to run higher given the rarity of the vehicle and 7.3.

I'll obviously try to work the guy down, but its comforting to know that the pricing seems reasonable. Thanks again.

 

I would also like to point out that I was looking at 99% 6.0 models, I know way less about the 7.3. I guess the 7.3 is totally different, I apologize if my opinions detracted from your decision.

 

Price is in the ballpark IMO. But if truly "no mods" then the suspension needs to be replaced (almost no one goes back with a stock suspension - it was inadequate when new). It is nearing time for most of the front end to be replaced and the injectors to start need replacing. Don't be surprised if you need $3k or $4k of work to be done soon after the purchase.


So you are probably looking at paying closer to $18k in the end unless the seller has receipts showing that this work was done recently. IMO $18k for a vehicle that is truly in like new condition mechanically is a decent price. But before purchasing I would have an independent shop spend at least an hour checking everything. Because if the seller has skipped basic maintenance on something as important as the suspension what else has been skipped?


Now $14k if everything including front end, rubber parts, suspension, etc is in new condition would be a great price.

 

Did I miss something 2WD or 4WD?

 

Sorry MecDac. Its a 4WD.

Gene Horr: Great puts, thank you. I had a Ford dealer take a look at it for me (probably should have used an independent facility ). I have a call in to pick his brain on your points and a few others. I believe the tranny is original but it sounded like the front end had been done.

I'll let you know what I find out and if I purchased in a follow up post.

Really appreciate the feedback from everyone.

DJ LPM

 

Can't be any easier to see, geez!

 

Sounds like a good deal to me. If you don't buy it, I'm sure someone else will pretty soon. 175k is nothing on a 7.3. Lots of people on this site with 300k on original injectors, a couple with 400k+. You can spend $500 and have X Code leaf springs put on the front end, thats including labor. (I found the springs on a low mileage F350 at a junk yard and payed a shop to put them on.) The rest of my suspension is fine. I've got a 171k on mine and I wouldn't sell it for $14k. The only thing Id rather have is an identical 03, or maybe an 02-03 in black or dark blue. For what its worth, a green 02 Limited 4x4 7.3 with 157k sold for $15k at dealer auction in CA about a month ago. So, what color is this one anyway?

 

Just buy it if you like it.

 

Michael is right (now that it is clearly 4WD), you may haggle a bit but you won't get hurt even at $14K.

 

Studawg - Grey with tan trim.

Apocalypse - Thanks for the cover, although, I suspect a bit of editing on your part...

Mecdac/LivingLarge - Agreed. The more I research, the more I realize $14K is a steal.

As a follow up, I just submitted an offer for $11.5 (my rationale was that it needed the Y pipe exhaust leak fix as well as reserve for future tranny/front end work, although I realize that the discount will not fully cover both). I realize I'll probably have to come up from that.

I'll let everyone know the result.