I bought my 2011 LR4 Lux with 102,000 miles a couple months ago for $14,000 USD. I purchased it from a local private owner and it was clear he was using it to haul his family around on a regular basis. Except for needing to be detailed, it was in great condition both inside and out. The loan to collateral value was such that it was worth more than the loan (at least on paper). It turns out not to have the HD package, but I didn't even know such a thing existed at the time. Given the used car market, it was the cheapest 4x4 I could find in nice condition and without a ton of miles. Since then, I've come to understand that LR miles and miles on other vehicles aren't precisely the same thing.
I may have a little bit of cash to play with over the next six months. That leaves me with a dilemma. Do I take the cheap vehicle and enjoy it for what it is? Or, do I pump a bunch of money into it and lose that one advantage? The reason I might be willing to pump money into it is I have come to enjoy it for other reasons, not just because I could get into a capable 4x4 cheaply. Plus, it's still relatively cheap even if I pump money into it. Let's say I were to sell it for $12,000 and put that together with another $10,000, what am I going to get for $22,000? Nothing, that's what. How about another $15,000? Okay, you might be able to get a Nissan Pathfinder. That's kind of like the LR4, right? Nope.