Australia's "Pickup" - Toyota Landcruiser Ute

In Australia, when someone says the word Ute this is what most people think of, Toyota’s legendary Landcruiser fleet. These vehicles are most known throughout the country for their reliability, especially when going up against The Outback.

After introduction to the Australian Market in 1958, they quickly surpassed rival vehicle models such as the Land Rover, the highest sold 4WD at the time, which is odd considering it was from a Japanese manufacturer. This new popularity was mainly due to the rugged build quality and relatively low price point. The Ute’s, especially the early 70 series, quickly became the peoples choice when choosing a tray back, for the same reasons they thrived over the Land Rover in the late 50’s early 60’s.

So you’re probably thinking this is the Ute most people aim to buy and yes, you would be correct, but with specific emphasis on the word ‘aim’. See, buying a Workmate Landcrusier today will set you back around $60 to $70k, and that is without optional extras like the tray and bull-bar. Buying second hand is an option, but you’d wanna hope its from some old bloke who doesn’t know the value of these things, and good luck finding one in decent condition under $10000 (if you do, buy it while you can).

Fanboys will argue that you are paying for the longevity. While this may be true, most people in today’s society will only purchase a vehicle for 5 years or so, making longevity irrelevant.
How about resale value? Not really.
Think of it this way, if I buy a Ute for $40,000 new and sell it for $10,000 later on, I get 25% back. If I buy a Landcruiser for $65,000 and sell it for $20,000 I only get 5% more, because I spent more initially.
Don’t get me wrong, I’d love to buy one of these for myself, but I must acknowledge that they are no longer in the reach of most consumers looking for a cheap, honest work Ute, which is what they used to be.

I’m not going to get into how they drive, because this isn’t what you purchase a Landcruiser for. You purchase a Landcruiser to tow/carry unbelievably heavy loads, get muddy, test the limits of Toyota’s engineering and show off, all while burning a hole in your pocket.

What do you guys think, are these Utes overpriced in today’s market? Or am I being a cheap ass?