2002 LS - What's It Really Worth?
Thread Starter
Lexus Test Driver
Joined: Apr 2004
Posts: 1,265
Likes: 9
From: MA
2002 LS - What's It Really Worth?
I'm looking at a 2002 LS430 with 36,500 miles. Both Edmunds and KBB peg the retail including adjustment for mileage at around $18,500... The advertised price is $20,995... What would you pay for this car?
http://www.autotrader.com/fyc/vdp.js...e&rdpage=thumb
Thanks - Jim
http://www.autotrader.com/fyc/vdp.js...e&rdpage=thumb
Thanks - Jim
Lead Lap
Joined: Jan 2004
Posts: 3,595
Likes: 271
From: Kansas
KBB is pure fantasy. I've never understood how they support their valuations. I bought my highly optioned 2000 LS400 from a non-Lexus dealer in 2003 at 38,000 miles and three years out from its original sale date for less than the KBB trade-in value and far below the KBB retail value.
If the color was right (we buy only white cars), I doubt if I would pay more than $14K for this LS430 -- even with its low mileage. It's an 8-year old, out of warranty, minimally equipped LS. I do like how they try to hide in the photos that it doesn't have nav. Actually, I would consider not having nav a big plus in an 8-year old LS. And I even like the 01-03 LS430 style more than the 04-06.
If the color was right (we buy only white cars), I doubt if I would pay more than $14K for this LS430 -- even with its low mileage. It's an 8-year old, out of warranty, minimally equipped LS. I do like how they try to hide in the photos that it doesn't have nav. Actually, I would consider not having nav a big plus in an 8-year old LS. And I even like the 01-03 LS430 style more than the 04-06.
Advanced
Joined: Oct 2008
Posts: 504
Likes: 54
From: wa
it's all about supply and demand.
KBB give out value based on some type of forumla, equation. KBB has no idea how much the market price is for cars.
if we based on KBB, everything out there seems overprice. look at your local cragslist, ebay, autotrader... to get an over picture.
To me, if the car has been listed for so long, it pretty much means OVERPRICED and no one feel like paying what the seller is asking. Most sellers think their car is "better" then the others so they price it higher for whatever reason.
On the other hand, you pay what you feel comfortable paying, not by how KBB or other says how much the car should be priced. Remember, you are looking for something you like so if it cost a little more, does it make a different?
KBB give out value based on some type of forumla, equation. KBB has no idea how much the market price is for cars.
if we based on KBB, everything out there seems overprice. look at your local cragslist, ebay, autotrader... to get an over picture.
To me, if the car has been listed for so long, it pretty much means OVERPRICED and no one feel like paying what the seller is asking. Most sellers think their car is "better" then the others so they price it higher for whatever reason.
On the other hand, you pay what you feel comfortable paying, not by how KBB or other says how much the car should be priced. Remember, you are looking for something you like so if it cost a little more, does it make a different?
Rookie
Joined: Feb 2010
Posts: 66
Likes: 0
From: Az
LS prices her have really jumped in the past year, just like most desireable used cars. Last year, BMW of North Scottsdale had a real nice silver 01 with mileage in the high 70s. The car was spotless. They were asking $12,800 and dropped it to $11,800 and it sold quick. That same car here now, a year later, is probably worth a couple thousand more than it sold for last year. It is very hard to find a nice, unmolested used Lexus. There are some really nice cars out there, at good prices, but they are few and far between. If you see one, don't wait it will be gone.
That being said, I think that this car is way overpriced.
That being said, I think that this car is way overpriced.
Advanced
Joined: Oct 2008
Posts: 504
Likes: 54
From: wa
I'm looking at a 2002 LS430 with 36,500 miles. Both Edmunds and KBB peg the retail including adjustment for mileage at around $18,500... The advertised price is $20,995... What would you pay for this car?
http://www.autotrader.com/fyc/vdp.js...e&rdpage=thumb
Thanks - Jim
http://www.autotrader.com/fyc/vdp.js...e&rdpage=thumb
Thanks - Jim
they expect you to offer less than what they want anyway
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