WBuffettjr

Hi all, I'm new to the world of Lexus and excited to purchase my first. I've been looking at a lot of used vehicles (from many brands) lately and it seems like the LS460 has got to be one of the best deals out there. I am startled to see how cheap the car is given it's reliability rating (among other glowing ratings of course). That an expensive car depreciates rapidly in a down economy isn't surprising to me, but what surprises me is how cheap the 2007/2008 models are relative to the the price of a new car not much older, and how cheap they are relative to the LS430 (or how expensive the LS430 is relative to the LS460 depending on how you want to look at it).

When I look up LS460s, it seems you can get an 2007 for $30,000 or perhaps less with haggling. A 2008 can be had for $35,000 or less. The thing that surprises me though is how expensive the LS 430 is. A 2004-2006 can cost $29,000 or depending on the mileage. Why would someone pay $29,000 for an older model that is also a year or two older and likely has more mileage when you can get the latest model that is a year newer?

I've seen road noise is an issue with 2007 LS460s...but it isn't an issue with the 2008, is it? And even if it was, how much road noise are we talking here? I've owned Honda Civics before, so unless the car sounds like a hair dryer next to your head, is it that big of an issue to warrant a $55,000 drop in the price of the car and worth the same amount of money as an older model (LS430)?

Any help would be appreciated. Just want to fully research my options.

rominl

iTrader: (4)

looking at ls460, the price is about right. 3 yr depreciation is about 50% on the lower end models. an 08 by now is around 3 yr, 35k now for swb means 70k new, about right. 07 is cheaper now of course. for ls430, it really depends on mileage and package, etc...

but i think if we look at avg price, ls460 swb are all around mid 30k. ls430, we will see them around mid 25k. i think that makes sense. if you look at low end of ls460 and high end of ls430, then of course you see the crossing there

welcome to clublexus!

94LSon20

I have a 2007 LS460, it had higher road noise compared to my 2001 LS430, until I went back to Michelin's. IMO I feel like the 01-03 are the last of the well built LS's (sorry, never drove an 04-06), the 460 feels cheaper, not like a Lexus and more like a 7 series.

As for the pricing, I agree with you, the 460's are cheap. Bought mine off a dealer's wife with 15,000 miles last year for 3X,000 (in the lower 30's) Its the dark money green color with the gunmetal 18's.

If I didn't already own the 2001 LS, I would have bought a lower mileage 04-06 instead of the 460. It's the last year they made it look like the original LS back in 89 (if you're a Lexus addict like myself you'll notice what I'm referring too...tail lights, body lines, etc..)

WBuffettjr

Thanks for the reply, rominl. Makes sense. I guess I just expected to see the LS430 cheaper than it is because it is an older style than what is currently out. Maybe that doesn't cause certain cars to drop as much as I am thinking. Also, those over in the LS430 forum seem to really love their cars.

I've noticed that there can be a noticeable price variance in LS460s across the country. True with any car probably, but 2007, 2008 LS460s seem to be several thousand dollars cheaper in Florida. I may even fly down there one way, buy one, and make a road trip out of it coming back to central Texas. Saving a few thousand and getting a road trip in the new car might be fun.

WBuffettjr

Wow, 15,000 miles for the lower $30s, that just seems nuts. Heck of a bargain. Is that really true that the 460 feels cheaper than the 430? If so, maybe I should be looking at 430s. I like the front end a lot, but I just wish the back end weren't so boxy (just my personal preference). I just assumed the LS460 would feel more opulent than the 430.

JFNash

Given their relatively high price point, Lexus cars depreciate quite rapidly to a certain level then they hold their value. That's why I think the LS430 has been holding its value for a long time.

The LS460 is going through its normal depreciation course and will stop for awhile somewhere in the low $30K's. I think the LS430 will remain around its current value until the LS500 is introduced next year. Then you'll see the LS430's new value level (low $20K's max).

So I think what you're observing is quite normal.

WBuffettjr

When you say introduced next year, does that mean September 2011, or September 2012?

JFNash

September 2012

daryll40

I've read that the next generation LS will come out in the fall of 2012 as a 2013 model and I've also read that it will come out in the fall of a 2013 as a 2014. If it follows the same pattern as the old LS430, it will be built for six model years and come out in about 14-15 months from now as a 2013 model.

As to depreciation, it appears to me that the LS460 is going thru a normal depreciation curve as per another post. I've owned a 2003 LS430, a 2004 LS430, a 2007 LS460 and now a 2009 LS460 SWB AWD. In the olden days I also owned two 1990 LS400s and a 1991 LS400. I find the current car to be as solid and trouble free as the priors, although the AWD sucks a little more gas than I had hoped. Anyway, the LS is STILL the best regular production passenger car ever built, according to this year's CONSUMER REPORTS and I agree. If you can find a cheap one, GRAB IT!

Newps

You can find cheap ones all day long. Funky colors, stained interiors, dents, dings, with previous accidents and high miles. However if you would like to find one in excellent condition with low miles that is another story. I know I looked here in SoCal for about four months before I found ours. I know I paid more then some of the other ones I saw advertised but it has half as many miles, in near perfect condition and the most desirable color (silver with gray int.). I will never have a problem selling this car as long as I take good care of it. Cream puffs always stand out in a crowd. Sure smoking deals might happen once in while but it’s more of a fishing story then fact. Start looking and driving those cheap ones you see being sold at R&S Leasing and Used Vehicles. Now go look at the certified used ones at the Lexus Dealership that are priced in the 40s. You will quick see the difference in the quality of the vehicles. Granted there might be some price variation between Florida and California. You get what you pay.

marky2mark

Exactly. I doubt you are going to get a '08 CPO with low miles and perfect condition for anywhere near 30k. At least not in So Cal. And I have a dozen Lexus dealers within 30-40 miles of my house so there is lots of price competition. Unless you are back east and looking at cars that have gone thru some winters with sand and salt etc.

WBuffettjr

I don't think Florida gets much in the way of winters.

I didn't say anything about CPO. I have to say I'm a little skeptical about the claims that "you get what you pay for" being justification for paying $50,000 for a vehicle with numerous listings in the low $30s. I'm getting an LS460 either way, am I not? Am I getting a lemon? If it has 40,000 miles, I could pay $100 for an inspection, then own one of the most reliable cars made that has passed a detailed inspection and is still under factory warranty.

Funky colors? I can see the pictures in the listings -- they look like standard colors to me. I appreciate the input and advice, but honestly you guys come off as just being mad that your cars have depreciated so much and someone can pick one up for $30k.

Newps

I can see different markets have different prices (Fl vs CA). What I am pointing out is that the ones with the lowest prices are priced that way for a reason. You get what you pay for. Not trying to bag on you at all. When I started searching for mine I looked at Mayham pricing, I thought I could get one for 32k to 35k. I could find them for that price but they were funky colors, high miles with previous accidents. I quickly learned that a nice one was going to cost more. I have looked at a ton over the last few months in person. How many have you looked at in person and test drove?

Your statement makes no sense, I just bought my car this month.

I8ABMR

I have to admit I was pretty happy to find that they were so attainable used. I got mine for 39k but I got it in 2010 as an 07. The car barely had 30k miles on it and in the end the payment was even lower than my GS 350 payment. The birth of my little girl was the perfect opportunity to step up to the LS. I have been happier with this LS that I have been with any car I have ever owned (although the prelude I had in college was bulletproof)

WBuffettjr

Okay Newps, sounds like I am wrong. Please accept my apology for my incorrect assertion.

Central Texas prices are probably similar to the ones you found in CA. I'm willing to go to Florida and make it a road trip (or ship from Florida) to save a few thousand dollars if that's possible (and it looks like it is from a nation-wide search). Black or white are my most likely color.