Project Car? Contemplating paying cash for 2002 with 115k miles...good service, EXC
#1
Project Car? Contemplating paying cash for 2002 with 115k miles...good service, EXC
i know it sounds crazy but I cannot find a red/ecru with decent miles for a good price, and the best ones are CPO and way too much money for a 5-6 year old car (the last year they made absolutely red was 2005) for like $35k.
So...I found an interesting car...2002 red/ecru at a MBZ dealership in MISS for asking $17,990, but they will sell for $16k. I am at a stall with them after I offered $15k to see if they would go for it.
Any folks out there pushing these kind of miles and what advice do you have?
I know it will need timing belt, water pump, spark plugs, etc. It has been serviced 100% at lexus dealer its entire life and is a one owner.
Anything else I find is much lower miles but $20k-$25k, which is a hard price for me because I probably would have to get a small note and the banks wont lend to independant dealers anymore and private owners are like 7% interest rate which is crazy!
Here is the link:
http://www.cars.com/go/search/detail...9&aff=national
So...I found an interesting car...2002 red/ecru at a MBZ dealership in MISS for asking $17,990, but they will sell for $16k. I am at a stall with them after I offered $15k to see if they would go for it.
Any folks out there pushing these kind of miles and what advice do you have?
I know it will need timing belt, water pump, spark plugs, etc. It has been serviced 100% at lexus dealer its entire life and is a one owner.
Anything else I find is much lower miles but $20k-$25k, which is a hard price for me because I probably would have to get a small note and the banks wont lend to independant dealers anymore and private owners are like 7% interest rate which is crazy!
Here is the link:
http://www.cars.com/go/search/detail...9&aff=national
#2
they're asking top dollar for that milage. if it really is in excellent condition, that's the blue book price. but blue book values lag a bit behind reality. so $16k probably isn't too for off from what's fair. the only thing i'd worry about from the carfax is that it's registered in a national emergency flood zone. that doesn't necessarily mean it has flood damage. but it's something to consider.
#3
Lexus Test Driver
I would consider it. If it is in excellent condition mechanically then I wouldn't hesitate on pulling the trigger. The major things are belts and possibly spark plug replacement (which is recommended @ 120K which is close to the 115K it currently has). Other than that, it looks like a winner. Check eBay, they have good prices most of the time. You never know. Good Luck!
#4
Lead Lap
I say go for it! You can't get the car at blue book value esp. at the dealer. Dealers normally sell a lil higher. If you can get it for 16 or even at 17k, get it. I had a lexus gs400 that had 150k mi and it runs like a new car. Engine and transmission wise, don't worry about it. What to worry about are the normal wear and tear stuffs. CV joints, lower arm boots, shocks and springs, etc... you know the norm.
Hope this will help you to make the decision.
Hope this will help you to make the decision.
#5
thanks gang...I am negotiating down from $16,600 based on the fact that it will need the 120k service (which is a modified 30k service) plus the timing belt, water pump and tires soon.
the flood thing does bother me...carfax looks good so insurance didn't write it off. For this type of car I really would like to be at $15k so I can sink some money in it and feel comfortable that I was not too stupid for letting my 2002 with 29k miles that was PERFECT go for only $24k. The closer I get to that $24k price of my old car, the more I KICK myself for being so stupid for selling it so cheap.
the flood thing does bother me...carfax looks good so insurance didn't write it off. For this type of car I really would like to be at $15k so I can sink some money in it and feel comfortable that I was not too stupid for letting my 2002 with 29k miles that was PERFECT go for only $24k. The closer I get to that $24k price of my old car, the more I KICK myself for being so stupid for selling it so cheap.
#6
looking at the link, small used car dealers like that scare me. the kind that have a mobile home for an office in a parking lot. the car may be fine. but i would have it inspected by lexus before i'd write them a check.
#7
yeah good point...maybe I should stick with the 2002 red/ecru locally with 72k miles for $18,962 which is their cost at this tiny dealer in dallas. At least I was able to see it first hand and drive it and saw what it needed. two ML 6x9's in the doors, rear trunk struts, brake job, 60k service (hasn't been done), new antenna (motor doesn't work) and interior leather reconditioning and it is ready to go.
My only problem on this one is PRIDE. After I put a couple of grand in this car, I would be at where i was on my last one (I owed $20k on my 2002 when I sold it for $24k) only now I've got someone elses well used SC430 with 72k miles instead of 29k that I have to start all over again on! Kind of stupid, I know. I guess I am suffering through it trying to teach myself a valuable lesson in car trading. I should have kept her.
My only problem on this one is PRIDE. After I put a couple of grand in this car, I would be at where i was on my last one (I owed $20k on my 2002 when I sold it for $24k) only now I've got someone elses well used SC430 with 72k miles instead of 29k that I have to start all over again on! Kind of stupid, I know. I guess I am suffering through it trying to teach myself a valuable lesson in car trading. I should have kept her.
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#9
That is my option # 2. If I can't steal a 2002 with higher miles, than I should upgrade to a 2006+ or at least a 2005 with bluetooth, right?
I'm a sucker for absolutely red. One old lady drives one at my gym I go to every day and I can't help but miss my old car every time I see it!
Absolutely red stopped in 2005....
I like the tech on the 2006+ and the shifter, but the rev limiter kind of sucks on the 2006 makes it feel like a chrysler pacifica shifter or something. Not as cool as the c-gate on the 02-05's.
My fav color is red, then # 2 would be black. If I could find a great local deal on a black or silver I would do it. Your silver looks awesome
I'm a sucker for absolutely red. One old lady drives one at my gym I go to every day and I can't help but miss my old car every time I see it!
Absolutely red stopped in 2005....
I like the tech on the 2006+ and the shifter, but the rev limiter kind of sucks on the 2006 makes it feel like a chrysler pacifica shifter or something. Not as cool as the c-gate on the 02-05's.
My fav color is red, then # 2 would be black. If I could find a great local deal on a black or silver I would do it. Your silver looks awesome
#10
i can't remember who told me this. but it's one of the best pieces of advice i've heard. always buy the best you can afford and you'll never have any regrets. i'd get an 06 if it's in your budget. especially if you can get one around $25k. bluetooth doesn't make a difference to me personally. so i'd either go 02 or 06. also, be patient. the longer you wait, the lower the price is going to drop. get one in the dead of winter and prices should be bottomed out.
#11
if i only had patience! that's why i sold my last SC i didn't have the patience to do the mods and thought I would easily tranisition into a porsche without thoroughly researching the pcars. If I had only spent some significant time in the 911's I would have seen that I shouldn't have sold my lexus yet!
#12
That is my option # 2. If I can't steal a 2002 with higher miles, than I should upgrade to a 2006+ or at least a 2005 with bluetooth, right?
I'm a sucker for absolutely red. One old lady drives one at my gym I go to every day and I can't help but miss my old car every time I see it!
Absolutely red stopped in 2005....
I like the tech on the 2006+ and the shifter, but the rev limiter kind of sucks on the 2006 makes it feel like a chrysler pacifica shifter or something. Not as cool as the c-gate on the 02-05's.
My fav color is red, then # 2 would be black. If I could find a great local deal on a black or silver I would do it. Your silver looks awesome
I'm a sucker for absolutely red. One old lady drives one at my gym I go to every day and I can't help but miss my old car every time I see it!
Absolutely red stopped in 2005....
I like the tech on the 2006+ and the shifter, but the rev limiter kind of sucks on the 2006 makes it feel like a chrysler pacifica shifter or something. Not as cool as the c-gate on the 02-05's.
My fav color is red, then # 2 would be black. If I could find a great local deal on a black or silver I would do it. Your silver looks awesome
#14
Driver School Candidate
Join Date: Jan 2007
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here, i've got a car for ya
2002 blk/blk SC430. 'Less than perfect' no perfect maintenance records, no accidents though, however* here are the issues: small ding on hood- not sure from what, was there when bought it a few yrs ago. Since I've had it though -driver's side door has a couple large deep scratches and bit of a rippled effect(someone scraped up against the side while parked on side of road in queens)but is isolated to the door, the CD changer=dead. "ERROR" which i've seen is common w/ these cars. those are the 3 major issues. just changed front & rear brake rotors/pads today. 118k miles, i saw you mention paying cash for a "project car" so I thought I'd post this. I can take photos if interested, the car doesn't look like a mess, but it's obviously not perfect. i'd sell it of course very C H E A P compared to what you're looking into, you could make an offer, can post photos and people on this forum can decide ballpark price, I havn't put it up for sale yet or thought of possibly fixing issues before selling, really don't feel like fixing it up though, rather sell it cheap, as i'm busy w/ 2 careers. If you're not interested, I'd still like to hear any comments on this as to what I could get for it or reccomendations to attempt to fix issues before selling. Thanks
-Rob
-Rob
#15
Lead Lap
rather than look for an inferior car for less than you sold yours for, i'd look for a better car even if it costs a little more if you can afford it. you should be able to get a good rate on an 06 if you don't mind doing a loan.
i'm not a fan of the color, but here's a good deal on a 2006.
i'm not a fan of the color, but here's a good deal on a 2006.