ElGuapo88

I found a private party on craigslist. The condition of the car exterior and interior seem really good. Service records are great. But I will definitely test everything and scrutinize everything in person. It's a 2008 LS460L with about 65,000 miles. It has all packages except rear seat upgrade, executive, and radar/precollision.

They are asking for 31,150. I think this is actually a pretty fair/good price. But how much lower should I try to aim for?

I am not sure what a car dealership would pay this guy if he tried to sell/trade it in. Any ideas? (because I think I would just add 1-2K to that value and feel like its a good deal for both of us).

Any help and expert advice is greatly appreciated!

sktn77a

iTrader: (2)

It's hard to value a car, sight unseen. If it drives really well and has been looked after, that's probably a reasonable price. The three most important things to consider are condition, condition, condition!

LXurious

Check craigslist to compare, come with a check or cold hard cash (risky but effective) I think 08 with that miles no more than 30 28 if possible

twadem

I agree - between 30 -28 dependent on condition.

hfahmy

three weeks ago, I got $33K from a Lexus dealer here in Atlanta for my old 08 460L (49K miles) with Touring package, was in good condition. Also, remeber the tax benefit of trading in at the dealer. You need to add this to the trade-in value. For me it was more than $2K on the top of the $33K.

waynedog

Trade in value is around $25k assuming it is in good shape. Fair private party value is around $28k. Make sure and have it checked out by a mechanic and preferably a body shop. Many cars sold via Craigslist are there because dealers will not take them due to problems with the car.

CJITTY

Today's pricing on Manheim is showing $26.6k for auction pricing and $32k est Retail for an average condition 08 LWB

ElGuapo88

Thanks for the replies! I will most definitely do thorough inspection and take it to an independent shop for them to look it over too. The service records are well maintained.

Thanks for the Manheim price! That's great information that I'll definitely take into account. I am so anxious to get an LS460! But I know I need to be smart and think/figure out everything and just take my time to make sure everything is right on.

PeteinPA

iTrader: (2)

Pricing is also regional and based on availability. I have found that the prices in the mid-Atlantic area tend to be a little higher although I am not sure why.

Check autotrader/KBB and Edmunds to get a feel. If you want to go CPO consider looking in FLA. I was about to pull the trigger on a CPO in West Palm when I just happened to come across a car that met my needs at a price I could live with close buy. Good Luck.

QB330

Like most of the folks above have already said, condition will be your main factor. Your region does play a minor role too, but most private parties try to sell their emotional value of the car. I recommend having a professional look thoroughly over the car and then make an evaluation.