350g

If you want to know what your vehicle goes for at auction, simply PM me and I'll give you the details. There's only two flaws with the program:

1) For extremely current vehicles, such as 05s, you may want to simply view the KBB trade-in value since not many of these models will have gone through auction.

2) The program does not distinguish between a vehicle's options. For instance, the UL package will generate a higher bid than a base model. In most cases, this $12k package only adds anywhere from $3 - 4k to the auction price.

With that in mind, these figures will give you a starting point for negotiation (used car). You can reasonably expect to add $1500 to the auction price for dealer acquisition & markup.

Enjoy!

Gary

350g

All I need in your PM is the year, make, & model of the vehicle . . .

lnguyenh

What is the value of the 2001 LS430 then?

350g

Auction value without regard to options is approx:

$26500 (low mileage: 36k)
$24200 (average: 62k)
$21900 (high: 88k)

Expect to pay $1500 over this amount for dealer markup . . . From what I understand, the ultra luxury package adds anywhere from $3k - $5k to auction value. It all boils down to what condition the vehicle is in.

G

lex430

The last 2 months that I was looking, for 01' with ~60k miles, dealers were asking in the high $30s.

350g

That's surprising . . . I would think CA, having an abundance of luxury vehicles, would be more competitive than the dealers I see here in KY. Hell, I could find an 01 with less than 60k miles for 29-31k (non ultra version) every day. Certified even . . .

However, keep in mind that each dealer plays the game a little differently. Some post an outrageous asking price (well above even KBB retail) to give you the perception that you're getting a deal when they discount it $4k. Unfortunately for the unaware, another dealer within 30 miles has the same exact vehicle marked $5k lower than the asking price from the 1st dealer. Obviously, the 2nd dealer cannot discount it $5k like the first dealer, but in the end, you receive a better deal from dealer 2.

G

350g

The most important thing I've done during my vehicle search is to make the dealer aware of my goals and the tools I have at my disposal (auction access). One dealer was quite candid by saying "ok. it comes down to how much do you think my time is worth?" My brother, who is a finance manager, told me that $2k above auction is actually a good deal. In this case, the dealer only asked for $1000 over auction. Too bad the vehicle was pulled from the lineup prior to bidding. Next auction please

G

lnguyenh

Thanks 350G. I guess I paid for my car lower than the auction value

Russ G

Interesting, as reference, One year ago (Jan 2005) I paid $30,800 for an '01 LS430 with Nav/Levinson, Lexus Certified with 50,000 miles. So based on your information mine is now worth $26-27,000.

350g

Russ . . . . you got an excellent deal from what it sounds like. You can still find 01s on Ebay going for low 30s. Only a few go for high 20s and even then, they're typically in not-so-great shape. I viewed a local one that had great pics & descriptors . . . too bad it looked as if a 5yr old took liquid white out to touch it up

G