Thanks for all the input. I went and looked at 3 cars yesterday. Learned a lot about what condition to expect. We also have a family friend that is a service manager at the local Lexus dealership. At first he thought I was asking about a new GS and said he couldn't comment on longevity yet. Then i corrected him and told him I was looking at an LS and he said, "Oh, don't even worry about the miles. That's a 400k mile drivetrain. Check everything else on the vehicle and if it works well, it could be a good deal."

That said...I'd rather have a pristine car with higher miles than a car will issues and less miles.

So...a pricing question. If the car is in decent shape, what should I actually pay for an 06 ML in very good cosmetic shape, everything working, and with 75k miles on it?

 

I'd say ballpark 28-32k for CPO. 2-3k less for non CPO.

 

Not sure Lexus does a CPO up to 75K miles. Thought there was a cutoff - so many years old / so many miles....

Also - I would not limit my search to an 06. Looks at miles and condition. We were looking at an 06 CPO with 18K last march (dealer wanted 35K). While in the dealership to negotiate the deal, another customer drove in an 03 with 38K miles to take delivery on a new LS. I drove the 03 home, showed the wife, went back and bought the 03 for 20K (as a CPO). Condition and maitenance history is key when buying these cars (in my opinion). This is our 4th used lexus. We shop for lower miles / pristene condition - and have always paid for a CPO. We have found the CPO to be valuable (opinions vary) - as an example - we had (4) parking sensors replaced in our LS - that's 200+ per sensor plus about 300 to install - total of about $1,100 - our bill $0.

 

yep good point - Lexus will not CPO a car after certain age in years or after certain mileage - maybe 50 or 75 K. These cars don't change much so you can look to other years - a 06 with 30k would be pretty identical to an 05 or 04 with 30 k - just as long as the older cars had been garaged and well maintained. The plastics and fabrics do age as time goes by but that is a more minor risk consideration in a high quality car.

 

I guess what I've heard is that milage is not a concern on this car directly. The powertrain will run forever, even if somewhat neglected for the first bit, if properly cared for in the long run. So from that, looking for a newer car in better cosmetic shape with all the options and buttons working is the way to go. Anyone disagree with that?

 

Optimally, you want to find a car that was driven by a non-smoking little old lady from Pasadena who only drove it on Sundays to her church which was 25 miles away by freeway. She kept the car in her garage, washed and waxed it by hand every month, used only Shell premium gas, never drove it in snow or rain, avoided unpaved roads, never had an accident, and had the car serviced at the Lexus dealer every three months. She never ate or drank in the car, picked up carryout food, or transported messy kids, grandkids, or pets.

While you're not likely to find a car with this pedigree, you can find cars for sale by the original owner that may come close. One of my high school teachers used to live down the street from us. He was single and bought a new Oldsmobile every 3 years. Aside from his short daily commute, he would visit family and friends out of town every weekend and during the summers. He kept his car spotlessly clean in his garage and drove it with a heavy foot. Every three years, the same guy would buy his cars and would eventually pass them on to other happy family members.

 

I'll take that one, please. How much???