shakazulu

I sorta stumbled across this one the other day, the car is in mint condition. The only hint of wear is a tiny bit on the drivers side seat bolster. It's been dealer serviced it's whole life, last timing belt/water pump change was at the 204k mark.

Edmunds has it at 4200 for our area, dealer has it listed for 6500, but knows he's coming down from there. I was actually thinking 5k before I looked up on Edmunds, it really is the cleanest one I have seen in a while, regardless of miles.

I'm coming off of years of BMW ownership, which naturally means I'm quite adept with tools. I don't think anything on the Lexus could be worse than changing both VANOS units on my M5, so I don't mind a little work. I just want something solid for running around town etc. I got a Scion recently and while I love the gas mileage and utilitarian nature, I realize I simply miss having a solid luxury car. Just drives so much nicer.

Any thoughts?

Joeb427

iTrader: (1)

$6500 for a '98 w/240000 miles.That's funny.
.
Why would you want to buy a '98 luxury car or any car with that kind of mileage for anything close to $4200 or at all?

shakazulu

Seems cheap to me for what you get. I've gone well over 200k on every single car I have owned doing all my own servicing. Heck, I fully expect my truck to hit 500k soon and it still drives the same as always. Plus the Lexus reputation for reliability etc.

Joeb427

iTrader: (1)

Well,whatever floats your boat.
Doing your own servicing is a big plus.

shakazulu

So what is your opinion of a fair price?

Joeb427

iTrader: (1)

Depending on care and condition is cherry...tops $3500.
240K miles is a lot of miles even on a Lexus.
Dealer probably took the car in for less than $2K.

Lavrishevo

iTrader: (1)

That's a lot miles. I'm not saying the car is not a good car but I don't think it's worth buying a car with that many miles. If your budget is around the 5 grand mark then look for private owner. You will get better deals this way if you are paying cash. You may have to get a older car but I would try to stay under 140k miles if possible.

If you really want that car I would say no more then 5 grand. Clean retail is $6750 on the high end with that mileage but I would be a little concerned about the transmission longevity. Just my opinion. If you can get it for $3500 good luck but that is way under retail. Like I said, private owner is going to be at least 30% less then dealer retail.

shakazulu

Thanks, I really don't know where to price these, so I appreciate the feedback. I'll just go in low and see what happens, worst they can say is no. I was actually shocked when I saw the mileage though, it's in near perfect shape, and has a stack of dealer invoices going back to 2006.

Joeb427

iTrader: (1)

S,I'm no authority on pricing something like this but that's my opinion.
Other more knowledgeable may chime in.

Gonads

I saw a black on black '98 LS400 with 273,000 miles go for $4,300 the other day. It looked really clean too.

I think $6,500 is definitely over priced. $5K is decent and $4K would be great. I wouldn't worry too much on the mileage as long as it has been taken care (esp dealer serviced). At 200K miles, alot of issues that was going to happen has already been addressed.

Lavrishevo

iTrader: (1)

Kelly Blue Book, Nada, and Edmunds are all guides and you can't rely on those numbers as absolute. Pricing is all about market value. If they can sell that car to someone for 6 grand they are going to turn down your offer. It's all about market demand. Always shoot low and go from there. Does not hurt to walk away and look at other options.

johnnyg66

A used car dealer will try for 20 percent mark up from book value for a price. Sometimes depending on the car can be higher and demand. If 5k is what you can live with without regret than by all means. He may shoot you down but just leave your number and wait. Keep looking if this is the type of car you want to own.

After all its a V8 and with gas prices the dealer may cave after awhile.

Good Luck.

RA40

iTrader: (6)

Clean examples are out there with lower miles. That is good this one is clean and has had regular service intervals. That is valuable where most cars in those miles will be on 2-4 owners so maintenance can be missed. A private party for a similar car would be lower. Is this a factory dealer lot?

Even if you enjoy wrenching, I'd keep an eye on this one and shop more to see what else can be found. If you were willing to consider the CA market, you can probably hunt one down pretty quickly. Condition is key so if this one is that clean, . The 250K miles mark is up there.

deanshark

I usually dont get into these "How much is it worth" threads but I'd have to say that is alot of miles, even for a Lexus, it's still a 15 year old car. You say he's got invoices since 2006, What about before that? Is it a one owner, or how many?

Legender

I think you can get one with less miles for the same money... I'd wait on it and keep looking...maybe even outside of your area.