Mike_1GO

iTrader: (2)

A relative of mine is selling a 98 Ls400 w/ 98k all original miles. Silver/blk. Well maintained by a local mechanic, not by a lexus dealer. Timing belt and water pump hasnt been done. Elderly owned since new. 2nd owner. He's asking $8,000 OBO. I currently have a 1990 Cressida w/ 74k and looking into purchasing this LS as an upgrade.
So what do you guys think, is it a good buy at ~8k? I could probably get him down to $7500..

matchesLS

Seems a little high even at 7500. Timing belt and water pump can be around $1200, if you take it to a shop. What I've learned about my car, a 95 with 88k miles, is its not the miles but the years. Cars are made to be driven. Still a great car, just plan on putting some money into it.

j2b4o

Seems high to me. I'd be thinking more around the 5500-6500 range depending on how cherry it was. Probably going to need lots of suspension work soon if it hasn't been done yet.

RA40

iTrader: (6)

Your MX83 is better. IMO, the MX73-83 Cressidas were excellently built. Various trades in some areas and obviously the LS will be the safer car in a crash. If it is super clean, $7-7.5K is reasonable for this LS.

Mike_1GO

iTrader: (2)

Thank you all for the opinions! Didnt know it may be that much for the timing belt and water pump replacement. If so, then 8K is a bit steep. Suspension wise, yes i may need to shell out for new struts/mounts and maybe even control arms/bushings. Its been a NY car since new and NY roads arent the best. RA40, youre definitely right about cressidas being well built. My '90 is a CA car and the suspension is very tight even driving over expansion joints on the highway at any speed i dont get creaks or rattles

Speedboat

Looks like a steal to me. I am not sure how anyone could say this car is worth $5500..?! The average list price for 1998s is close to $11k, and this car has far lower mileage than average.

Sure, cars don't sell for list price, but at the same time they don't sell for 50% of list price, either. I've seen similar cars with many more miles sell for 5 figures this year. Strange to see that people think these cars are worth so little.

Lavrishevo

iTrader: (1)

KBB values are just not very accurate for today's maket, IMO. I picked up my 99 with 68k for 8k.

PureDrifter

iTrader: (10)

you need to look harder. market prices =/= retail prices or anywhere close.

RA40

iTrader: (6)

In Lavrishevo's situation, the availability is a factor.

This Edmunds is reasonably accurate for the stateside mainland peeps:
http://www.edmunds.com/lexus/ls-400/...an&style=12896

timmy0tool

iTrader: (7)

here i california i noticed the prices of cars are a bit higher compared to the rest of the country. IMO, that's a good buy at that price point but that's with california standards. where are you from?

BobN54

Second owner depreciates value. Clean Carfax? - If so, that's a plus; if not, that's a big negative. I would humbly offer $6500 explaining that even though it's in great shape, you have to budget for $1500 worth of 100k mile maintenance that those cars typically need.

xinkid

Location and condition are very important. It's a 98, which does fetch more premium. In my area, 98 LS with less than 100k miles are all asking north of 9k and they were selling fast this spring.

pmesfun

We got our 99 with 87k for 8900, no other one was clean as it.

Mike_1GO

iTrader: (2)

thanks for the input guys, the LS has been a NYC car its entire life. The first owner had it garage kept for the mere 3 years he owned it. When he passed away, his wife auctioned the car off. At the time it had 20,000 miles and sold for $20,000.. Since then, it has not been garage kept which sorta bothers me..

Dream005

I don't know about NY but here in Tennessee that is a good deal. If it is clean, has a good interior and has been well maintained a 98 is around 9k or 10k. Here in the south we don't have to worry about rust much. With it not being garaged kept the last while I would look for rust before I bought it.