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If you live in Michigan, even if you buy a rust free car, it will look like that after a couple of winters.
I would say go for it but budget for getting the surface rust brushed off all the rusted parts and painted with a rust converter and a protective coat.
Also check the rear wheel arches behind the plastic covers as that is where the body rot tends to start and that is much harder to deal with.
I am from michigan so rust is very typical. There's someone else with a 2005 LS 430 non-ultra that is willing to trade as well so if I get some pictures hopefully today I'll post those here.
How does this look compared to the previous images?
Wow this makes me grateful I don't live in the rust belt. Unfortunately, I wouldn't purchase the car as it is far too gone in my opinion. I'm not an expert on rust though!
This is not the worst. To be fair, this is better than average given the age of the car. Does this compromise the integrity? No. Does this make servicing the car harder? Probably yes.
It's all surface rust on heavy-duty parts so purely cosmetic. Yes, it will make getting some bolts off much harder but it's not crazy levels of rust yet. If the owner thinks he is getting California car prices for it, walk away.
But for a decent price I'd buy it, stick it up on a ramp and spend a weekend getting rid of the surface rust, painting with rust converter and then a protective paint coat or 2. You'd probably have to repeat that process in 10 years.
I live in the UK where we don't get much snow but the roads do get heavily salted for a month or 2 most years. My 2004 has 140k miles and isn't anywhere near as rusted as that but has light surface rust in most of the same places.