When is it time to sell my car?
03-27-14, 02:14 PM
#1
Intermediate
Thread Starter
When is it time to sell my car?
I have a silver and black (with cherry) 2002 UL with 83,000 miles on it. It has factory chrome wheels. The car started leaning a little to the right in 2006...made six visits to the Lexus store over two years. It was a CPO car, so it was in warranty. They replaced sensors, boards, etc. I kept telling them that it probably was an air strut, but they insisted not. The car still leans a little to the right. Ride comfort is still very good.
The car has only had one repair, which was a minor fuel leak ($300). However, the car is twelve years old. The car has a lot of gadgets on it. It has been maintained by the book, by the Lexus dealer. It is well taken care of....wash it almost every week, and wax it fairly often.
I am at the point of do I keep it, or is it time to sell it. I do not want to get into a situation of major repairs, or expensive repairs on a vehicle that has depreciated substantially.
I do realize that buying a new car means substantial depreciation, but I will have warranty. I just don't know how reliable this car will be at twelve years old. I like the car. I just don't want to start feeding repairs, or get stranded on the side of the road.
All thoughts and opinions appreciated.
The car has only had one repair, which was a minor fuel leak ($300). However, the car is twelve years old. The car has a lot of gadgets on it. It has been maintained by the book, by the Lexus dealer. It is well taken care of....wash it almost every week, and wax it fairly often.
I am at the point of do I keep it, or is it time to sell it. I do not want to get into a situation of major repairs, or expensive repairs on a vehicle that has depreciated substantially.
I do realize that buying a new car means substantial depreciation, but I will have warranty. I just don't know how reliable this car will be at twelve years old. I like the car. I just don't want to start feeding repairs, or get stranded on the side of the road.
All thoughts and opinions appreciated.
03-27-14, 02:46 PM
#2
Kinda thinking the same way. The wife's LS is 9yo with 90k miles. Well maintained, excellent condition and just completed the 90k service. Plus, there's no car note. However, I'm always worried about all the expensive options on the car and "what if". Also, the "old" technology (audio, GPS, etc.). It is, more or less, a garage queen and is driven very little since my wife drives my Camry to work (I'm retired)
I love the car;but for the above reasons/thinking, if we could afford a later model ES, we'd go for it.
I love the car;but for the above reasons/thinking, if we could afford a later model ES, we'd go for it.
03-27-14, 03:46 PM
#3
Pole Position
After making a mistake getting rid of my old 2004 with 150K miles, I recently bought one with about the same mileage as your two cars. I don't have the UL model, so my situation is slightly different, but I am not going to worry about repairs this time around. I love everything about the car, and for the $17K I paid for it, I will be more than happy to fix it. Not having a 430 for 8 months really made me realize what a great car it is and how perfect a fit it is for me.
03-27-14, 04:29 PM
#5
I totally agree with you Bob. Although I did not go without a LS as I traded in my LS400 for my 430 UL. The Lexus dealer gave me 8 grand for my 99 LS400 with 89k on it. 
Even with the air suspension, if you decide to convert to regular springs it's less then 2 grand for parts and labor. I found a very nice set of lightly used air-shocks on eBay for $450 as backup. So if I have a shock start leaking I can just swap it out.
In my opinion, the ideal time to purchase a LS is after the previous owner paid for all the major 100k maintenance. This is what I did. Found a beautiful single owner, impeccably maintained and all the service records at the dealer. New tires, brakes, door speakers, and some other little things. So in other words, mafpolo, unless you have the itch to get something new you are much better off keeping what you have. Think about how far a $400 a month car payment goes towards maintaining a perfectly good LS.
Even with the air suspension, if you decide to convert to regular springs it's less then 2 grand for parts and labor. I found a very nice set of lightly used air-shocks on eBay for $450 as backup. So if I have a shock start leaking I can just swap it out.
In my opinion, the ideal time to purchase a LS is after the previous owner paid for all the major 100k maintenance. This is what I did. Found a beautiful single owner, impeccably maintained and all the service records at the dealer. New tires, brakes, door speakers, and some other little things. So in other words, mafpolo, unless you have the itch to get something new you are much better off keeping what you have. Think about how far a $400 a month car payment goes towards maintaining a perfectly good LS.
03-27-14, 05:07 PM
#7
Pole Position
I totally agree with you Bob. Although I did not go without a LS as I traded in my LS400 for my 430 UL. The Lexus dealer gave me 8 grand for my 99 LS400 with 89k on it.
Even with the air suspension, if you decide to convert to regular springs it's less then 2 grand for parts and labor. I found a very nice set of lightly used air-shocks on eBay for $450 as backup. So if I have a shock start leaking I can just swap it out.
In my opinion, the ideal time to purchase a LS is after the previous owner paid for all the major 100k maintenance. This is what I did. Found a beautiful single owner, impeccably maintained and all the service records at the dealer. New tires, brakes, door speakers, and some other little things. So in other words, mafpolo, unless you have the itch to get something new you are much better off keeping what you have. Think about how far a $400 a month car payment goes towards maintaining a perfectly good LS.
Even with the air suspension, if you decide to convert to regular springs it's less then 2 grand for parts and labor. I found a very nice set of lightly used air-shocks on eBay for $450 as backup. So if I have a shock start leaking I can just swap it out.
In my opinion, the ideal time to purchase a LS is after the previous owner paid for all the major 100k maintenance. This is what I did. Found a beautiful single owner, impeccably maintained and all the service records at the dealer. New tires, brakes, door speakers, and some other little things. So in other words, mafpolo, unless you have the itch to get something new you are much better off keeping what you have. Think about how far a $400 a month car payment goes towards maintaining a perfectly good LS.
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03-27-14, 05:45 PM
#8
Lexus Champion
I still see MANY 98-00 LS400s on the road that still look practically new. Goes to show the quality.
I see beater pre 98 ones all the time. I see so many LS430s around LA it's crazy. It's time to sell when you don't see many on the road anymore; just my opinion.
I'm driving my 04 until the wheels fall off.
I see beater pre 98 ones all the time. I see so many LS430s around LA it's crazy. It's time to sell when you don't see many on the road anymore; just my opinion.
I'm driving my 04 until the wheels fall off.
03-27-14, 06:40 PM
#10
A note on a new LS will cost you about $1k, and I wouldn't even think about a newer ES, a friend bought one and I was simply unimpressed. It's time to sell when you no longer enjoy the car. Mine is paid for, and it'll probably get passed down to my oldest in about 3 years.
03-27-14, 07:28 PM
#11
When it doesn't run and/or the return on repairs exceeds the sellable/tradable value on the car. Studies say drive em til they puke. This is the best financial time, though you may be sick of the car..
03-27-14, 08:47 PM
#12
Moderator
My rule of thumb over the years is to keep the car until it is likely to need a repair or serious maintenance that will cost more than the car is worth. The only problem with that goal is it is almost impossible to predict when something costly is going to break. So in the past I have sometimes been stuck paying a high dollar repair on a old car and then selling it.
The LS in particular seems to have been incredibly well made. My 06 still runs and drives like it is almost new. All the switches, doors, ***** etc still work perfectly with almost no signs of wear. So I think the LS430 could be very reliable for 15-20 years compared to average modern car which is reliable for maybe 10-12 years max.
If I had an 02 and it was in great shape I'd likely keep it mostly because I don't want to spend the money required to get an LS430 compatible newer car (30k+). However if I had a UL I would be concerned about the air suspension potential repair or conversion costs. There is no right answer.
I have a friend that has a 96 ES300 Lexus that has 408,000 miles on it with no major repairs. He is a traveling salesman...that car does not owe him a dime at this point : )
The LS in particular seems to have been incredibly well made. My 06 still runs and drives like it is almost new. All the switches, doors, ***** etc still work perfectly with almost no signs of wear. So I think the LS430 could be very reliable for 15-20 years compared to average modern car which is reliable for maybe 10-12 years max.
If I had an 02 and it was in great shape I'd likely keep it mostly because I don't want to spend the money required to get an LS430 compatible newer car (30k+). However if I had a UL I would be concerned about the air suspension potential repair or conversion costs. There is no right answer.
I have a friend that has a 96 ES300 Lexus that has 408,000 miles on it with no major repairs. He is a traveling salesman...that car does not owe him a dime at this point : )
Last edited by Jabberwock; 03-27-14 at 08:50 PM.
03-27-14, 09:29 PM
#13
Keep it for another 100k miles... Then pay cash for ur new toy 5-6 yrs from now and sell this. I've paid cash for my last three cars and it just frees up so much down the road. You own a car that will give you that reliability window to save up.
Replacing/updating things till then will always be cheaper than a freshly new car note. But... If u just want something newer now is the time to sell at lower miles and pre major maitenance.
Replacing/updating things till then will always be cheaper than a freshly new car note. But... If u just want something newer now is the time to sell at lower miles and pre major maitenance.
