PlotPoint

I drive a first gen LS400. I bought it new and have maintained it reasonably well over the years and it has very low mileage for its years (around 100K).

In the past year I have FINALLY started to notice things 'going'. I will soon be spending at least $1500 on the front suspension replacement, and the rear air shocks could go at any time, since they are original (fronts were replaced several years ago). Yes, I am committed to keeping the air ride. I got a quote of about $800 per shock from a Lexus dealer that generally has good prices on OEM parts, so I know what I would be in for there. The fuel gauge works only intermittently (after the car has been driving for a long while, it 'might' kick in, though the low fuel reserve light still works (thank goodness). Dash panel lights flicker on occasion (have read up on that little project in this forum and it sounds like a pain). There are a few other repairs needed, like a leaking axle boot leather on one of the seats is splitting at the seam, and at some point a full tune up (spark plugs were replaced but not the wires nor the caps etc.). The engine mounts are good/new, etc Timing belt was done several years back.

I get pretty lousy gas mileage -- 12 mpg I think for around town. I don't know about highway, but assuming at least 15 and prob a tad better I will make a point to test that out soon.

I get offers all the time from people wanting to buy my car. One offered 2K which won't even cover the cost of my repairs for a recent repair (leaking valve gaskets) and the upcoming suspension replacement. So, 'in your dreams', dude.

Tbh, my car has gone years without needing any repairs, so looking at it that way, it's been dirt cheap to drive. It's also provided a fantastic driving experience.

That said, with just suspension replacement and rear shocks, I am looking at putting in a minimum (more) of $3,500K (not a DIY so will have to pay for labor).

At this point I am questioning whether this makes sense. $3,500 is 10% of a new car that would likely get much better mileage, have a facdtory warranty on parts/labor for at least a year , etc. etc.

Another option would be to upgrade to a newer LS400. I have not looked in to pricing, but probaby should. Love the Lexus, but too many little things (and some not so little) are starting to 'go'.

Are these older LS's really meant for only DIY'ers? At what point would you throw in the towel on owing one of these (admittedly fantastic) older models?

PlotPoint

Just took a look at Kelly Blue Book for my car and private party sale should be around $4,800 (given low mileage) and trade in value is around $3300. Cost for a 2004 LS model could be in the 11K to 15K range, depending on condition. If I can find a reasonably priced 2004 would be tempting to sell this and upgrade.

Any thoughts on whether a 2004 LS430 is as reliable as the first gen LS400s? There are probably some stats around on repair costs for each model but I am not sure where to look.

Thanks for any input.

Shmee

iTrader: (3)

From what I have read, the 430s are great cars. The ULs have a bit of an issue with the ride quality in the air suspension which has also had some reliability issues for some drivers. But for the most part they are very solid cars. I'm looking at an 05 to replace my 96 when I'm done school.

That said, if you can afford either option it is entirely your call.
Keep in mind you will never get the money you put into your car back out unless you continue to drive it.
A lot of the stuff you have suggested you can do your self fairly easily with a jack, stands and basic tools and would save you a lot of money to do so! Probably cut your repair bill in ½ or less!

It's a tough situation to be in and I have had a lot of customers in the same place. It really comes down to what you want! Keep in mind that the newer LS430 will likely still need some work as well and parts will be more expensive. Even a low mileage 430 will likely need a few things replaced, but how much comes down to how thorough your PPI is.

RA40

iTrader: (6)

I interpret that you are willing to spend ~ $35K for a car? In that case, you are in LS460 territory.

100K on a first gen isn't that high and with some DIY it will go substantially more. Depends how happy you are with the car to repair it and drive it. The out of pocket for a new car with updated insurance premiums is substantially more.

I personally like the cars as they age, the cost of ownership drops so long as the maintenance is kept up. Some years draw more maintenance expenses than other years. My rough ballpark would average about $500/year in maintenance. That factors past issues with alternator, starters and other incidents including consumables like tires, batteries... Aside from those the car is excellent and so long as I keep on top of it, I hope to see 300K+. Not all cars are great examples so if there are engine, driveline issues, those weigh in more heavily for replacement.

The improved safety standards is also a consideration. In that regard, the newer cars will be much more crash worthy.

LScowboyLS

This is exactly right!

sayow

I wont speak for your area or your individual experience but I can tell you that most informed buyers disregard KBB in favor of Edmunds which gives a better true market value. KBB is in my experience almost 100 percent higher than the actual sale prices I see.

Legender

Understand your struggle...
But you need to narrow it down to what are your key decision points...
What's more important? Keeping your car on the road? Saving Money? Getting a new model with better features?

It's really a personal decision... based on what's important to you? What is going to make you happy.
If you spend $3.5K on it to repair it and then 1 year later you need to spend another $1500 to keep it on the road? Are you OK with that.
If you spend $3.5K on it to fix the big things and then have the light and gage issues to deal with, are you going to be happy?
Every car will take money to keep it on the road. And you have to decide when to cut one loose and start putting money into another one. Of course, we all want to minimize how much we have to spend to keep it on the road, which it appears you've been able to do. Congrats on a great purchase.
I think you may not have enough info to make a decision... drive some new 400s and some LS430s and then do some comparisons and weigh where is the best place to spend your money.
Have fun...

PlotPoint

Thanks to you all. It's probaby very apparent that I am really struggling with this decison. I would have no problem putting in $4K or so if I thought that would take care of everything and give me another solid 3 to 5 years more of reliable driving, but I am just not convinced it will. So yes, I need to look in to other models and do some thinking -- maybe make a list of all the things that 'have' to be fixed to keep me happy then another list of what the remaining 'risks' are. It's tempting to just keep throwing money at it since I love the car so much. Btw, yes, I thought the KBB value was way too high. I'll take a look at Edmunds and see what they say. Appreciate the lead.