Heberhobby

Hi, I'm new to the forum and am about to make an offer on a 1995 LS400 with 48,000 KM or 30,000 Miles. Serviced at the same dealer its entire life. Body is in great shape with no rust , except for a scratch along the passenger side from the front wheel well to the back rear well. The 92 year old driver got too close to an A&W drive thru. What would you pay for it? Please say if it is in US or Canadian dollars.

lextout

Heberhobby

Is that 5000 US or Canadian?

lextout

AandSC

oldskewel

iTrader: (1)

I'll say roughly $10k+ minus whatever it will take to fix the paint/body damage.

There are legends out there on the interwebs about how any car older than {10, 15, 20, 25 years old, take your pick} will need to have every piece of rubber (suspension bushings, hoses, tires) on it replaced due to dry rot and impending destruction. My cars are generally 15-30 years old, 100k-200k miles, and I'm calling BS on that. I think it is a ploy to let people pay too little when buying old cars.

But what it's worth is what the market will pay, so if enough people believe the legend ...

Also, 1995 was the first year of the interference engine on the LS400, so a timing belt failure could cause significant engine damage. So you'll need to factor that in on deciding how much risk to take on the timing belt. Spec is probably 7 years or 90k miles, whichever comes first. I'm currently at about 80k miles and and 18 years on the T-belt in my '91. But since my engine is non-intereference, a T-belt failure will be inconvenient, but not destructive. So I'm waiting, and chances are something else will kill the car (Green new deal anyone?) before the T-belt does.

Heberhobby

Wow. What a difference. From 5k to 10k US. He's asking 11K Canadian.

Heberhobby

Thank you for the heads up on the timing belt, as the owner says it hasn't been replaced on the vehicle because of the low mileage. I'd replace first thing if I get it.

Hobycat

Whew!....Oldskewel do I ever agree with your statement on rubber, hoses etc.! I drive a 95 Miata like I stole it (by revs not speedometer) and have only replaced a few hoses @ 181k and counting.

My 99 LS was garaged her whole life until I purchased and have continued. The rubber and hoses are excellent although I changed upper and lower radiator when I did the 19 year old T belt (looked new) and water pump @ 73k .I am constantly seeing LS's for sale with 2-350 k on them, do you think they were all always meticulously maintained, stored out of the elements,babied etc. nada,and guess what ? They just keep on rolling(they are for sale). Heberhobby when you do decide to buy, do the regular maintenance, keep an eye out, smile and ride.

bradland

I think $5K is a bit extreme but I also think $10K is a bit extreme. Somewhere in between but I'd lean closer to $5K. Paying a premium for low miles with an LS just doesn't make good financial sense based on the reliability and longevity these cars offer. I drove my first LS, a 91, daily for about a month shy of a decade. When I decided to sell it I posted an ad and a buyer handed me $1000 the very next day. The car had almost 270k miles. In the end would it matter if the car had 45K or 85K miles when I purchased...?
Edit- the 91 was purchased in 1998 for approx $10K with 95K miles and sold in 2008 for $1k with 268K. Not a bad value formula IMO...

Fit1too

Low miles are not always a good thing. Many people start their car, drive 5 minutes to the store, church, etc., shut it off, shop, worship, etc., and go back home. They don’t use it again until the next week and do the same thing all over, or they forget and leave it out in the driveway all day and run out at night, start it, pull it in the garage, and shut it back off. Their oil changes are hit and miss. They rely on their son or nephew (daughter or niece) to do the maintenance “when they can get around to it”, or worse, they take it to Iffy Lube! All of this is fine, but it takes away from the value of the car as far as I’m concerned. I paid more than most probably would have for my 98 model, but it met all of my requirements: No rust, Southern car (no salty coastal air), ALL service records, dealer maintained (except for the last 2 year), 90K mile service completed (including timing belt), newer valve covers gaskets, strut rods, AC compressor, brakes, and tires. It is everything I wanted and needed it to be. I didn’t want to have to repair anything, I didn’t want to deal with a dealer, I didn’t want to deal with meeting odd sellers in strange places. I bought mine to tinker with instead of smoking. I told my wife that I could easily pay for the car in 2 years if I quit smoking and drinking coffee ($7.00 per day). After 6 months I still love it and have discovered that the previous owner was Mr Magoo (all four corners have rub marks on the lower edges), one of the stereo pixels fades (temperature related), and it needed a good detail (just the fun stuff). Point being, it all depends on what you want it to be. Pricing varies wildly. I’ve seen sellers asking a fortune for a car just because it was (old, low mileage, rare, etc.). Close inspection proved that they were ridiculously overpriced! I’ve purchased the ‘little old lady” car only to find it needed WORK! I’ve purchased the ‘little old lady’ car that DIDN’T need work. Sometimes people need cash (tax time, bail), which has led me to purchase cars at unbelievably low prices that needed nothing but a driver. I don’t know what resources you have for pricing, but I use KBB.com, Edmunds.com, and NADA.com. In the end, especially with older cars, it all depends on what shape it's really in, how it operates, and how much you think it is worth.

Heberhobby

I haven't heard of nada.com or bbb.com so I'll check them out. Thank you Fit1too for all of your input .

Fit1too

KBB.com = Kelley Blue Book

Fit1too

For Edmunds.com you have to click on 'Used Cars for Sale' on the first page and then "Car Appraiser" on the second page. Not sure what zip code to tell you to use. See if it will let you use one of your postal codes. If not try one from a major city in the US like 90210 or something like that.

400fanboy

I paid 5500 for 120k miles on an otherwise perfect, like-new example of a 98. Zero rust. Zero maintenance issues besides a broken fan clutch which was impossible to diagnose until summer.

If the car is a good spec without air suspension, I'd say north of 7 but below 10k. You say the timing belt has never been replaced, which is a must-do-ASAP item. I agree with an above poster that 7 years or 90k miles is the spec for this car on the timing belt. Ask for 1000-1500 off just because of that.

At this point, mileage is less relevant. It's not a 5000 mile example anymore. There will be time-based gremlins simply based on the car being over 20 years old.

Negotiate based on the mechanical condition of the car:

Strut bars clunking?
Tires in good condition?
Speakers all working? Interior lights? Seat heaters? Electronics? Steering Column motor?
Brake condition?
Is the engine leaking\burning oil which could be related to cam\crank seals?
The starter motor is a big gremlin too.
I also think the ECU capacitors on that car are suspect until 96 or 97 which could present weird issues.