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Old 12-15-14, 04:55 PM
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Thinking of selling, pls help me value car(s)

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Old 07-29-14, 09:36 PM   #1
53063
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Default Thinking of selling, pls help me value car(s)

Hello,

So, I have two Lexus's I am considering selling. I would be selling them for the goal of getting a fair price but not so high I sit on them for 6 months, and then using the money to buy a newer car. I have looked at Edmunds, NADA, and KBB but the values they give vary by so much (thousands and thousands of dollars) that I have no clue what my cars would sell for. Hopefully someone here can give some guidance as to what is realistic and if they would be hard to sell.

Car 1 - 1999 LS400. Mystic metallic gold with ivory interior. 30,500 miiles. All needed maintenance done (timing belt in 2011), and every single thing on the car works. Garage kept. One owner. Interior in great shape. Exterior in good shape, shiny paint, but a few issues as noted next....Negatives - the color, I don't like it. The tires are original and while having plenty of tread left it is time for new ones! The car was in a minor accident in 2002 and the hood was a poor paint job - color doesn't blend perfectly (they did half the hood for some reason instead of painting the whole thing) and there is a section of clear coat about a foot long that is coming off on the hood only. The hood is shiny even where the clear coat has peeled and from a few feet away looks fine. Light scuffs etc on rear bumper, no accident just normal from putting stuff in trunk etc. Top corner in rear next to trunk lid had repair done after bumped when loading something in trunk.

Taking all of the above in to consideration, what would you suggest I advertise the car for?

Car 2 - I know this is the wrong forum but it is a 2003 LS300. Kind of a creamy ivory pearl - very pretty. 32,700 miles. Garage kept. 1 owner. No damage to body - minor scratches, minor road chips etc but overall looks great. Interior great, everything works. Tires and brakes and everything else great, but due for timing belt change (can do belt change before selling if recommended)

What do you all think?

Thanks!
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Old 07-29-14, 10:49 PM   #2
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I'm not a good judge for how much cars are worth but I can tell you that, at least in Northern CA, KBB undervalues what you can get selling a used LS400 that is low mileage. You could try perusing craigslist to see what others are trying to get for your car. Hoe this helps.
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Old 07-30-14, 09:31 AM   #3
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Do you all think I could get $8500 for the ls400? I don't want to waste my time dealing with potential buyers/test drives/etc if you don't think I'll get any offers in that area. KBB says around $10,456 for 'good' condition which it sounds like it matches for the exterior and interior definitely exceeds that category, but I figured I'd take off a bit to get it to sell faster, and because I'm sure gold is not the most popular color.

If I can't get at least $8000-8500 I'll probably just keep it. Thoughts?
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Old 07-30-14, 10:03 AM   #4
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I noticed when I was working for Honda a couple years ago that KBB was primarily used in the coastal regions of the US and NADA more around the Midwest. That seems to be how banks valued cars.

I know that run of the mill cars are easier to value with KBB/NADA but special interest cars and pristine well kept luxo cars are often like used HD parts. It's worth what the next guy is willing to pay. I will say that (at least around here) if you try to take $8000 to a car lot and expect a car as splendid as a low mileage LS400 it will be a wildly disappointing experience. There are plenty of instances where KBB/NADA overvalue/undervalue cars. Where you live will have a big impact on what you can expect to get IMHO. My SAAB was for sale for around 5 months and priced over book because of the tasteful tuning. The right buyer saw it and couldn't wait to complete the transaction. Around here people are scared of Euro cars r/t lack of dealer support. I would let it stay for sale and plan on leaving it on the market for a little while to give the correct buyer a chance to see it... Actually if it were me I would be driving that 99 and selling the other.
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Old 07-30-14, 10:44 AM   #5
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I appreciate the response. Can you tell me why you would keep the ls400 and sell the es300? I am deciding whether to sell one or both so I am truly interested. People on the lexus forums seem to hold the ls400's in higher regard than some of the other models and I am unaware of the rationale behind that.

Another question for anyone reading - have you found it worth making repairs before selling or better to sell as is? For example, I could have the hood repainted or at least the clear coat redone as that item is the biggest flaw on the car before putting it on the market, but only if I am likely to get that money back out of the sale. It really does not look bad as it is...
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Old 07-30-14, 12:27 PM   #6
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Quote:
Originally Posted by 53063 View Post
I appreciate the response. Can you tell me why you would keep the ls400 and sell the es300? I am deciding whether to sell one or both so I am truly interested. People on the lexus forums seem to hold the ls400's in higher regard than some of the other models and I am unaware of the rationale behind that.

Another question for anyone reading - have you found it worth making repairs before selling or better to sell as is? For example, I could have the hood repainted or at least the clear coat redone as that item is the biggest flaw on the car before putting it on the market, but only if I am likely to get that money back out of the sale. It really does not look bad as it is...
I'm not going to speculate on why people hold the LS in higher regards. Could be that the LS is the flagship lexus model. I see the ES as more the entry level model and I'm sure others do as well.

People will use paint chips and other faults as a bargaining chip, but you'll probably lose money fixing it first and then trying to sell it. Your average car buyer doesn't value a clean paint job as much as any enthusiast. Sure they'll nitpick about it, if they even notice, but you didn't get the chips and botched hood paint fixed because there was no need. The average car buyer holds that same sentiment and will leave the paint as is probably until they sell it themselves. In reality, and this may seem shady, but people don't readily notice what isn't pointed out to them. Highlight the good and people will focus on that while ignoring what may seem problematic. Lead with the bad, and people will shy away from the car.
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Old 07-31-14, 09:44 AM   #7
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IMO, you're not going to get $8500 for your LS unless you take care of the hood and tires first. Over $8K is for nearly-pristine looking examples. As is you're looking at $6K-$7K max, assuming the rest of the car is in as great a shape as you're describing. If the seats are worn out, you'll get less still.
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Old 07-31-14, 11:29 AM   #8
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It's all about the market, timing and the right person seeing it. And the opportunities and prices vary across the nation. You're going to have to determine what you think you're bottom line is... put it out there at a higher price to leave some bargaining room and let it run. Hard for us to tell you what someone else might pay...though we could tell you what we might pay. Personally, to pay a premium price, even with the low miles I'd want the paint and everything else to be perfect also...otherwise I'm in the 6$-7$k ballpark also. Remember... just because you don't like the color...does not mean someone else is looking for just that color.
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Old 07-31-14, 12:33 PM   #9
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I thought this car sounded familiar - this is your grandfather's LS that you were posting about a couple of weeks ago. So you bought it from him and are now looking to flip it? As long as you don't pay title/registration/sales tax in MD on it you should be able to make a nice little profit. Did you drive it back from Florida on those 15 year old tires?!
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Old 07-31-14, 01:59 PM   #10
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Yes, that's the car! I probably should have flown out before I bought it, but decided just to go for it. It really is overall in great shape so I can't complain - the only thing it needs is tires...I'm just not feeling a connection. I love my 2003 es300, and the LS has more comfy seats, more power, is quieter and has a smoother and 'tighter' ride and more bells and whistles but it just doesn't appeal to me the same way.

Plus side is Gramps took off a bit on the price since it was so much to ship, so total right now with shipping I've got $5390 in it (I haven't registered it or switched the title yet - debating it in case it takes 6 months to selI in which case might as well drive it in the mean time). Didn't buy it with the intent of flipping, but why drive a car you don't like for the next 5 years? Husband thinks we should keep it unless we can get at least 8k because "it's too good a car to give away", but I'd be happy making my money back plus a small bit.
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Old 07-31-14, 04:00 PM   #11
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Originally Posted by 53063 View Post
Yes, that's the car! I probably should have flown out before I bought it, but decided just to go for it. It really is overall in great shape so I can't complain - the only thing it needs is tires...I'm just not feeling a connection. I love my 2003 es300, and the LS has more comfy seats, more power, is quieter and has a smoother and 'tighter' ride and more bells and whistles but it just doesn't appeal to me the same way.

Plus side is Gramps took off a bit on the price since it was so much to ship, so total right now with shipping I've got $5390 in it (I haven't registered it or switched the title yet - debating it in case it takes 6 months to selI in which case might as well drive it in the mean time). Didn't buy it with the intent of flipping, but why drive a car you don't like for the next 5 years? Husband thinks we should keep it unless we can get at least 8k because "it's too good a car to give away", but I'd be happy making my money back plus a small bit.
All the taxes and fees to get you street legal area going to be close to a thousand dollars, so don't go there if your intention is to sell for a profit within a few months. I'm in MD too and bought my 2000 LS back in March. The sales tax alone was about $600. Title and registration are a couple hundred more, plus you have to pay for the safety inspection, which will probably turn up some repairs you didn't think of. If you don't plan to own it long term, don't spend all that money on it.
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Old 07-31-14, 08:07 PM   #12
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I would list it on eBay if i were you,due to the low mileage you will get a bigger audience.
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Old 08-09-14, 09:26 AM   #13
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I would say do a whole new paint job of a color you like and keep it
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Old 08-09-14, 03:51 PM   #14
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I would say do a whole new paint job of a color you like and keep it
Diamond white.......
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Old 08-09-14, 03:51 PM
 
 
 
 
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