VQT

Hi,

I am shopping for a 93 LS400; can you tell me your opinion on the price range?
would $13k to $14K for a full loaded, around 100K mi. a alright price?

Thanks,
VQT 93 SC400

zushwa

I don't know where you guys are looking but I got mine from a private owner with just over 100K for $13,000 cash. When I was looking on the internet and in the local papers the most I saw one for was about $17,000. Even the local dealers (crooks) weren't close to $20,000. Just keep looking. Don't rush into buying one. Find one (color, options, etc..) you really like for a good price.

VQT

Zushwa,

I like private owner too, use car dealers want way too much
Did you get all the options for the car? Traction control, heated seats, memory, shoulder belt adjust, Nakamichi...?

VQT 93 SC400

zushwa

I got everything but the NAK, but I had/have plans to upgrade the sound system anyways. I might go with a complete Eclipse system if I could just see what it would look like!!!

The previous owner kept all the records and had documentation from everything even after the warranty was expired. A couple of scratches and 2 new tires but otherwise in great shape. I took it to the mechanic before I bought it just to make sure nothing was about to crap out. I'm not a big fan of puddles in the parking lot. :eek: I took it for about 4 test drives before I bought it. The lady was very understanding. She also knew I was paying cash because of my wifes big mouth so I'm sure that explained her patience.

New Owner

Recently (3 weeks ago) I "lucked into" a late '96 LS400 (assembly date 04/96) with only 43k miles on it from a private owner and longtime friend of the family. The husband had recently passed away and his widow was offering to sell me his mangificent condx LS400 for the "bank appraisal" of $21.5k Naturally I jumped at it.

Now as good as my deal was, I think a 93 with 100k on it seems a bit pricey at $13-$15k, even for "certified".

Kelly Blue Book (trade-in value) reports this car at $8875, a price I'm inclined to believe. Of course that's wholesale. A dealer is entitled to recover his cleanup, repair and advertising costs and make a fair markup. However, considering the dealer makes only a scant 10%-15% on his brand new cars, he should be entitled to more than that on a preowned car, unless it's a real cream puff. I've run the numbers a dozen times and keep coming up with a maximum high retail of $11,000 with a more realistic number in the high $9k to low $10k range.

If you really want the car and think this is the one for you, I'd write out a check for the biggest number I could live with, i.e., say $11,500 and lay it in front of him. If he says 'no' then pick up your check and leave. Let him stew in his own juices for 3-5 days and go back. Lay the same check in front of him once more and see if he bites this time. If he still doesn't, leave your business card with him and write a date that's say 10 days from now on the back of it. Tell him your offer is good until that date, and leave.

8-9 year old Lexus LS400s aren't worth $15k unless they have really low miles on them. 100k miles may be low for a '93, but it's still 100k miles. I'd stick to my guns on the $11k number. (and IMO that's still high)
It's just a car...