I would like some feedback from people who actually own these cars so here goes my dilemma.

There is a 2002 GS 300 that has 21,900 miles and only one owner for $18,000. The problem is that the one owner was rearended by a pickup truck and the ins. co. salvaged it. The person/shop selling it now had it rebuilt and has a new title.

I drove the car and it is great. I spoke with the original owner and she said that she took care of the car and hated that it was salvaged. I followed up with lexus and they confirmed that she had the necessary maintenance performed on the car.

So the bottom line is...is it worth it?

 

Recent Owner here.
I will say no.
For these 3 reasons
1-I assume you are paying the car cash.I will keep 10k in my savings put 8K down and buy a car not salvaged.
2- even when the price seems to be right, you have to think on the future when the time comes to sell your car.
3-Get an 03 certified ( peace of mind untill 100K) a newer car,a little more cost , a lot of value.At 25k value put down half (12.5K) finance the rest @7% inerest 60 months ( High) $247 a month and still have 5.00 on the bank to go on vacations and enjoy your car.
From the buyers point of view , i will not buy a car from someone who bought a car from someone else who crashed the car.
There is plenty of good cars around ,even with the same mileage as yours.Be patient something else will come around. Good luck in your purchase of one, if not one of the best cars .

 

This other opinions different mileage car but same situation.
Buying Salvaged GS

 

Appreciate your feedback. I have the red flags all over the place on this car but my wife thinks it looks good so everything should be okay.

 

im a gs300 owner
no and no not a good idea the value of your car would go down when it comes time for a trade, the miles are good and that is probably your reason for thinking that is a good deal, but NO

 

I'm with ZULU keep looking. Me and wife just got an 03 gs300 w/26k miles for $24.5k with all the service record all new Strusts all around and 4 new tires and 100k extended warranty. Keep looking you do not want that car. It may look good but you will never be able to get rid of it. Keep looking there is a GS with your name out-there just got to find it.

 

Two things to think about.

1. Insurance may be hard to get for a salvaged car. I had a buddy buy a salvaged Saturn. He drove it two days and hit a deer. He called his insurance company and they told him they dont' cover salvaged cars.(he had 30 days to tell them he bought a new car) Needless to say he was out a bunch of $$. He ended up fixing it himself and had problems getting coverage so he sold it.

2. Salvage car resale values suck. If you need or want to sell it you'll end up taking a hit. Not only that, it will take forever to sell. If you try to trade it in, the dealership will give you two sticks of gum and a jelly bean for it and make you feel the fool for trading in a salvage car.

Only buy a salvage car if you have done your due diligence and plan to drive it into the ground and sell it to the neighbor kid for a nickle bag.

 

save yourself the headache man... don't buy it unless this is going to be a project car and you plan on doing an engine swap. even then - it's only worth HALF THE PRICE!!