nameinuse

Keep in mind we're a 20-something, middle class couple with a 6 month old who can't quite afford a new, or even closer to new RX. We don't want to finance and have another monthly bill, but are able to spare enough to pay cash for an older model vehicle.

We've found an '04 RX330 with 143k, loaded with literally every single option available. It's a 2 owner, meticulously maintained, all service records available, beauty in excellent condition. The only interior or exterior body defect is the small (common from what I read) dash crack. KBB is around 15,000 as best as I can tell. Dealer listed price as 13,995, but we got him down to $13500, with a $1500 trade in for my old Mustang.

Well, here's the issue...
I took her for a pre-purchase inspection today. Everything received excellent marks. Everything but the power steering components that is. Apparently, the power steering fluid is seeping. Dealer said that he'd give it 6mths - 1 yr before an actual leak develops. I've read up on the problem on these forums (you lovely folks have helped immensely in my research!), and it seems to be a known issue. Dealer said they could fix it for around $1200, but would wait to do the fix until it develops into a full on leak. We've got a meeting with the dealer tomorrow. I'm going to offer he either reduce price by 1200 or get it fixed before we will purchase it. Otherwise, we're walking.

So, if the dealer does reduce price, or get it fixed, do you think it's still a smart move to purchase? Would one be preferable to the other in your opinion? I'm going to be honest, I originally started researching older Lexus' due to reliability and safety ratings and I've fallen in love with the RXs. I would rather buy an older, higher mileage vehicle with better features/reputation than a newer one with less features as long as the older vehicle seems in excellent condition.

Sorry for the novel, but we're really struggling here. I'm pretty sure we also got seduced by the looks and feel of this beauty so outside opinions would be much appreciated!

RX330inFL

Welcome to Club Lexus, nameinuse.

A used vehicle which has been thoroughly inspected can be a good purchase. Those here with steering rack failures have reported that the leak never gets all that bad, so you could go some time before needing to have it fixed just adding DEXRON II/III fluid (RX uses ATF for power steering fluid). The repair price has also been noted to be less if you shop it around at places such as Toyota.

As the water pump, timing belt and spark plugs have more than likely all been replaced not long ago you should be set to go with the possible exception of tires and brakes for some time to come. Make the offer and see what they have to say. Walk as needed. There are plenty out there. Just keep having them checked out beforehand.

http://www.cars.com/for-sale/used/le...les&sf2Dir=ASC

warminwisc

I would suggest never fall in love with a car, keep an open mind, otherwise it may lead to buyers remorse. 143k is still alot of miles. Does anyone have a link to auction prices for the last month, bet they gave the guy 10K$. Good luck1

GadgetmanN

I applaud you for not financing. Hopefully this will not cut into your 8-10 month emergency fund. All that said, I can't imagine going wrong with a meticulously maintained RX. But of course you could do a bit better with a private sale over a dealer. But don't agonize over it too much. If this one does not work out, there is always another one to be had.
Oh, and I forgot to mention, my '04 with 73k miles was $14,750 back in Dec from a dealer. I am sure you could do a bit better anyway.

nameinuse

Thanks, everyone. That's food for thought GadgetmanN. Did it take quite a bit of negotiating?

Adamjeeps

You are taking a gamble in purchasing a vehicle with high mileage. I know you said you don't want a monthly payment, but rates are so low right now you can get great interest rates. I would not even bother trading your vehicle for $1,500, unless you can't afford to keep it, which in that case you should not be buying a Lexus.

I don't mean to sound like you are making a mistake, but at this point in your life you can not afford to take a big risk. My advice would be to purchase a 2-3 year old vehicle with a good warranty and finance it. You don't need a Lexus when a Toyota would do the exact same job. On the other hand, you could buy this and have no problems for 5 years.

Good luck with your new baby and whatever you decide to do.

alchemist

iTrader: (1)

Here are the most recent Manheim auction results. Remember that the best deal you can usually get is when a car is traded in then you buy it. They often low-ball the previous owner. If they can't sell after 30-60 days, they run it through the auction.

Type Odometer Price Sale date Auction Engine T
R Cond Color Sample
4D SUV 74,404 $13,600
05/22/13
ATLANTA 6G A Abv WHITE N
4D SUV 77,985 $13,250
05/22/13
CALIFORN 6G A Abv GRAY Y
4D SUV 45,593 $13,000
05/14/13
ORLANDO 6G A Abv SILVER Y
4D SUV 92,148 $13,000
05/03/13
FT LAUD 6G A Abv LBLUE N
4D SUV 76,110 $12,700
05/09/13
DARLNTON 6G A Abv CHAMP Y
4D SUV 89,559 $12,500
05/22/13
FT MYERS 6G A Abv WHITE Y
4D SUV 84,860 $12,200
05/17/13
FT LAUD 6G A Abv BLACK Y
4D SUV 103,698 $11,900
05/20/13
NC 6G A Abv SILVER Y
4D SUV 117,140 $11,900
05/15/13
NASHVILL 6G A Abv WHITE Y
4D SUV 84,858 $11,900
05/09/13
ATLANTA 6G A Abv SILVER Y
4D SUV 65,827 $11,700
05/22/13
NJ 6G A Abv GRN Y
4D SUV 62,822 $11,700
05/22/13
CALIFORN 6G A Abv GOLD Y
4D SUV 65,065 $11,500
05/22/13
NEWORLNS 6G O Abv WHITE Y
4D SUV 198,735 $11,500
05/06/13
NC 6G A Abv WHITE N
4D SUV 115,103 $11,200
05/15/13
CALIFORN 6G A Abv SILVER Y
4D SUV 99,644 $11,100
05/24/13
FT LAUD 6G A Abv BAMBOO Y
4D SUV 106,530 $11,000
05/01/13
SF BAY 6G A Abv SILVER Y
4D SUV 130,505 $10,900
05/21/13
GEORGIA 6G A Abv WHITE Y
4D SUV 130,412 $10,900
05/01/13
CALIFORN 6G A Abv SILVER Y
4D SUV 93,993 $10,800
05/06/13
NC 6G A Abv DK BLUE Y
4D SUV 111,316 $10,700
05/15/13
CALIFORN 6G A Avg GRAY Y
4D SUV 63,941 $10,600
05/03/13
FT LAUD 6G A Avg GOLD Y
4D SUV 98,691 $10,500
05/22/13
SAN ANTO 6G A Avg SILVER Y
4D SUV 130,478 $10,500
05/16/13
RIVRSIDE 6G A Avg SILVER Y
4D SUV 89,403 $10,500
05/15/13
HAWAII 6G A Avg BLUE Y
4D SUV 85,146 $10,500
05/08/13
LAKELAND 6G A Avg LT GREEN Y
4D SUV 87,642 $10,400
05/22/13
ATLANTA 6G A Avg GREEN Y
4D SUV 98,563 $10,400
05/03/13
FT LAUD 6G A Avg LTGREEN Y
4D SUV 95,926 $10,200
05/22/13
SAN DIEG 6G A Avg GRAY Y
4D SUV 98,964 $10,200
05/14/13
ORLANDO 6G A Avg SILVER Y
4D SUV 191,449 $10,000
05/22/13
CALIFORN 6G A Avg SILVER Y
4D SUV 102,777 $10,000
04/30/13
ORLANDO 6G A Avg WHITE Y
4D SUV 122,755 $9,900
05/08/13
DALLAS 6G A Avg BLUE Y
4D SUV 103,190 $9,800
05/21/13
HOUSTON 6G A Avg BLUE Y
4D SUV 138,347 $9,800
05/08/13
HAWAII 6G A Avg BLUE Y
4D SUV 119,854 $9,800
04/30/13
STATESVL 6G A Avg BLACK Y
4D SUV 125,896 $9,700
05/22/13
NEWORLNS 6G A Avg WHITE Y
4D SUV 154,669 $9,700
05/09/13
ATLANTA 6G A Avg SILVER Y
4D SUV 139,236 $9,700
04/30/13
RIVRSIDE 6G Avg GREY Y
4D SUV 110,761 $9,600
05/03/13
DALLAS 6G A Avg GREEN Y
4D SUV 139,192 $9,500
05/28/13
STATESVL 6G A Avg SILVR Y
4D SUV 91,306 $9,500
05/28/13
ATLANTA 6G A Avg BLUE Y
4D SUV 132,024 $9,400
05/22/13
CALIFORN 6G A Avg SILVER Y
4D SUV 191,165 $9,400
05/01/13
CALIFORN 6G A Avg SILVER Y
4D SUV 139,622 $9,300
05/14/13
ATLANTA 6G A Avg BLUE Y
4D SUV 94,537 $9,200
05/28/13
ORLANDO 6G A Avg GOLD Y
4D SUV 225,454 $9,200
05/08/13
CEN FLA 6G A Avg BLACK N
4D SUV 159,223 $9,200
05/07/13
ATLANTA 6G A Avg BLUE Y
4D SUV 128,814 $9,000
05/22/13
CALIFORN 6G A Avg SILVER Y
4D SUV 128,465 $9,000
05/01/13
CALIFORN 6CY A Avg Silver Y
4D SUV 156,351 $8,700
05/24/13
NEVADA 6G A Avg BLUE Y
4D SUV 167,042 $8,700
05/07/13
ATLANTA 6G A Avg BLUE Y
4D SUV 113,935 $8,600
05/28/13
ORLANDO 6G A Avg SILVER Y
4D SUV 165,013 $8,600
05/16/13
ATLANTA 6G A Avg BLUE Y
4D SUV 110,535 $8,600
05/14/13
ORLANDO 6G A Avg SILVER Y
4D SUV 168,153 $8,600
05/07/13
GEORGIA 6G A Avg BLUE Y
4D SUV 177,517 $8,500
05/23/13
NYMETSKY 6G A Avg WHITE Y
4D SUV 134,248 $8,500
05/23/13
ATLANTA 6G A Avg BLUE Y
4D SUV 132,459 $8,500
05/17/13
FT LAUD 6G A Avg SAGE Y
4D SUV 140,289 $8,500
05/09/13
PHOENIX 6G A Avg BLUE Y
4D SUV 156,784 $8,400
05/22/13
CEN FLA 6G Avg WHITE Y
4D SUV 128,037 $8,300
05/23/13
SO CAL 6G A Avg WHITE Y
4D SUV 135,213 $8,200
05/09/13
ATLANTA 6G A Avg SILVER Y
4D SUV 130,886 $8,200
05/02/13
PHOENIX 6G A Avg GREY Y
4D SUV 180,684 $8,100
05/17/13
FT LAUD 6G A Avg WHITE Y
4D SUV 134,032 $8,100
05/07/13
BALTWASH 6G A Avg BLACK Y
4D SUV 149,092 $8,000
05/14/13
SO CAL 6G A Avg BLUE Y
4D SUV 161,746 $8,000
05/14/13
ATLANTA 6G A Avg SILVER Y
4D SUV 131,380 $7,900
05/23/13
STATESVL 6G A Avg TAN Y
4D SUV 140,104 $7,700
05/16/13
PHOENIX 6G A Blw SILVER Y
4D SUV 162,854 $7,700
05/01/13
FT MYERS 6G A Blw GRAY Y
4D SUV 155,128 $7,500
05/15/13
CEN FLA 6G A Blw BLUE Y
4D SUV 180,403 $7,300
05/14/13
ORLANDO 6G A Blw GREEN Y

lexus114

$13,000 is all I would go for that RX with that kind of millage.

alchemist

iTrader: (1)

I actually wouldn't do more than $12k.

Is this car at a lexus dealer or used car dealer? Some of these used car dealers put a premium on lexus, benz, bmw etc. Keep searching and don't be afraid to look outside of your area as that has an impact on pricing as well.

Another tip sell your used car privately - you're gonna get hammered on a trade in. Example: my in-laws were going to trade in their 2004 Infiniti Qx56 with 136k miles. Dealer offered them $7500. They sold privately a week later for $13k.

nameinuse

Thanks again everyone.

We got her! Got the dealer down to 11k overall. I didn't mention before b/c I was already a little long winded, but the RX was the dealer's wife's old car. It's been maintained here locally at the same dealership my husband takes his Camry to. (He upgraded her to a gorgeous 2010 RX we caught a glimpse of). I verified all records, everything the dealer told me matches up. Overall, we understand the risk but feel like it's worth it at this point. I will say that I had scare though. The car didn't want to move, and made a terrible screeching sound when I first tried to drive her off the lot. Turns out, the E brake was on. (I may or may not be a blonde).

Overall, we got what we wanted. A nice, known to be reliable used car that still left us with a comfortable amount in savings and no monthly bills. Theoretically, we could've afforded something newer with less mileage, but this move is what made sense for us right now. I'm not expecting it to last forever either.

And for the record, the Mustang was a holdover from my college days - a 2003 base model V6 coupe with 209k on her (so this may be why I'm not as afraid of high mileage cars, am also from a family of hobbyist mechanics).The mustang was still in decent condition, but we didn't have the time or parking space to hold out for a private sale. We were willing to take the loss for the convenience.

RX330inFL

Congrats on your purchase. I will assume at that price you did not get the power steering rack repair thrown in on the deal. Something to keep an eye on and to research possible repair options.

As for the emergency brake, with so many vehicles today having the handbrake right there in the console you sort of forget about it when you do not see it. With the RX it is back to the old days of needing to use your left foot to apply and disengage the brake. To be honest, I rarely use mine at all.

Post pictures when you have a few minutes.

GadgetmanN

Nope. I tried, but could not get him down. It was basically the price. It is a long story, but I walked over $150, and he caved. He obviously won... Or maybe I did???

GadgetmanN

Congrats! Life is good !!!

thomas1

The steering rack can be had for a lot cheaper at places like Rock Auto.com. Enjoy your ride, remember the timing belt will be due at 200k miles, hopefully it was done at around 100k miles. Wealth of info on this site.Ask questions when before any repair, and save some money with the knowledge.

Adamjeeps

That sounds like a good price, especially since it was so well maintained. When I traded my RX in they gave me $14,000 for it. I saw it on the dealer website later for $19,000. They had put new tires on it. It was gone a few days later. Don't know what selling price was but it goes to show the big money is made on used vehicles.

Also, we love pictures!!!