So now that I have purchased my 460 (and have a 98 LS), I am in the market for an older project LS and I found the following:

94 LS 400 w/154k
Verified 2 owner and last owned since 1998
Gold on Cashmere
No air ride
Exterior 7/10 - pretty impressed for its age, a few rock chips but no sign of peeling clearcoat
Interior 7/10 - no rips, some bolster wear and a few cracks
Almost new tires
Perfect glass
The trunk looks like its got zero miles on it. Full spare is perfect, no stains, has the Lexus toolkit, CD changer and even the black lexus towel in pristine condition.

Now for the bad:

Car was a local car trade in with a small time dealer about 8 months ago and the car has sat on the back lot in the sun untouched for the full 8 months. I did not notice any paint oxidation or warping on the dash yet, but it cannot be good for the car to bake in the heat everyday.

The power steering was almost empty which means probably pump and/or rack are leaking

The AC was not blowing cold (honestly the first time i have seen an LS AC out, those things are near bullet proof)

The LCD climate control/clock display is blown out (pretty common is my understanding)

The battery was dead so we had to jump it and then after it idling for 20 mins would not restart so assume battery (at least) is dead and I will check the alternator if i go back out there to make an offer.

Dealer told me that they changed the timing belt and water pump for the owner not 30 days before he traded it in so there is that... but as a small local non Lexus dealer I am not sure I will get any evidence of this other than his word.

The dealer initially wanted 1800 (runs good, come see it price), you can imagine what I told them when the above was noted... ... but as I was leaving the manager said "make an offer, we would like to move it"

As I mentioned it would be a project not a daily driver and i am not afraid to turn a wrench. So given the above problems, what would you pay for this 94? I am thinking 800 but would love opinions and any feedback on what else to look for if i go back out.

 

I think that range is fine... but he might not be able to go below $1200... offer less than you're willing and see if he can meet your halfway to something you're comfortable with. None of the issues sound that serious.
I'm thinking $1k might be a happy medium.

 

https://www.clublexus.com/forums/ls-...ml#post1581983

There is no gold on the paint chart.
AC could be a lot of work. Its either low on refrigerant or the compressor is gone, I like when they all say it just needs to be recharged. Nope, the leaks need to be found first.
I myself over paid for a car with non working AC big mistake I was in the learning stage then.
So I'd hit him up with I'll pay your price if you fix the problems. Or I'll give you ??? what ever you decide you want to give for it. I haven't seen it so I don't know what the price should be, but if the AC is leaking at the evaporator and metal in the system the fix could be in or over the 2000 range for some shop to work on it. And if the evaporator could be the leak and or seals on the piping the dash comes out and the whole hvac comes apart to get to it. Likely a very easy job to do if you have done a few hundred of them in the last 2 years. The most difficult part of working on the interior stuff is not goofing the parts up, since there is a lot of plastic that snaps together. With no AC I would not want to pay over $1000. unless the car had only 3,000 miles and was perfect other wise.

 

It's probably beige, 4K7 or 4K9.

pricing seems reasonable for a clean 1st gen.

 

The A/C would be my only hold out. Could get costly real quick. The rest are the usual stuff you can fix in your spare time. Personally I wouldn't pay more than a grand with a busted A/C given it's other issues. If they are willing to fix it first, I'd negotiate around their price.

 

I bought a 1996 217k mile ls400 last year for $300 that was headed for the junk yard. Had a bashed in drivers door, cracked windshield, and no good tires. So by the time I put a new windshield and tires on it, I had a $1000 car. One year later and 10k miles, I'm just over $4000 just in parts(on-line not dealer prices). I figure I have at least $6000 of my own labor in it. Not trying to scare you, just letting you know what can happen with these older cars. Your mileage isn't as high as mine so you may get away for a few years of the maintenance problems I have had.

 

Or compromise on the AC since that is the big unknown. Have them pay for the diagnostics on what is wrong with the AC then you can either bargain down more now that you know, or be willing to pay up as it's not as big a deal as you thought. I prefer to deal with the risks I'm familiar with than gamble on what I don't know.

 

Windshield ? Did you do all the work your self? And wow 4K in parts? What are they for? I can see 1.5K in parts but 4K? That's a bunch of stuff.
That is why its way better to find one that doesn't need all the parts, unless the body and paint are in good shape. Also the interior, that's a huge expense too, a bad driver seat cover okay but not a total mess because if it is then it wasn't taken care of.

 

I paid $1800aud for my 1990 celsior. Ive spent around $2500-3000 to get it on the road. Things add up pretty quickly. Mine was non running and in need of repairs and maintanance. Still having issues chasing coolant leaks, there are a lot of joints and points for failure.

 

I guess the message here is unless you just like the older ones and don't mind working on them, the best bang for the buck is the newer LS's. And unless the project car is in super shape, its a total waste of time and money fixing it unless its just a junker to drive all the time, and with its future plans to be a parts car.

 

Grabbed some pics. going back up there Monday to negotiate.

 

It looks okay in the pic's. I hope it doesn't spend lots of time driving that road though, lots of gravel spray on the parts. Is the arm rest just dirty or worn? And looks like a trac car with heated seats if I'm seeing right.
I'd tell em if they want top $ the AC needs to work. And it needs a battery, and the power steering can't be doing any dripping. Else here is what I'll give for it, I'd try to keep it near 1K Maybe in the 1.2K would be okay but still theres that AC problem. At least the miles aren't too crazy high.