New member and poster here...2004 LS430, 22000 mi, Premium model. Can someone suggest the best source(s) for figuring out what this vehicle is worth? I don't know if I should go to my selling Dealer, consult KBB/Edmunds, or if there is a more accurate way of determining current value on rhe open market. Should I settle for "wholesale trade-in", high retail or somewhere in between? I'm asking here because I am confident that the LS enthusiasts represented in this forum are more knowledgable than anyone else I can ask. Thanks!

 

3 things you can do:

1. Use Edmunds.com site to self appraise your car - they have an online appraisal tool will give you retail, private party and wholesale estimates based on your model, miles, options, paint color, location, etc.

2. Do a search of both ebay and autotrader.com to see what cars that match yours are selling for. Do a nationwide search so you can see as many 2004 LS as possible asking price.

3. You can take your car to CarMax and/or the Lexus used car dealer and ask them to make you an offer. They are in the biz of buying used cars and always need more cars and you will get a competitive wholesale offer from them in 15 min.


When selling the price you get is generally proportionate to the effort and time you put into the sale. Sell the car yourself in 1-4 weeks for high retail after detailing the car to perfect condition and spending time and hassling with fielding calls and doing test rides, negotiating with various strangers, until you find a serious buyer that values your car at asking price. At the other end of the price and time scale, sell your car in 15 minutes without even having to take it to the $10 car wash to Carmax or Lexus dealer for low wholesale. And there are legitimate reasons for doing either one - time is money so just have to pick what best fits your needs.

btw - a 2004 LS with only 22k is going to be a VERY desirable used car if its in good shape and clean - should be very easy to sell. And don't let anyone tell you that a premium optioned model is worth less than a more heavy optioned model. There are people out there (like me) that would pay more for a clean low mile Premium model than for a heavy optioned LS.

 

+1 on that. I have an 04 UL with 96k. The only thing that keeps my value is the expensive maintenance (done at the dealership) that I had done. 22k on an 8 1/2 year old car is a dream. Besides, the dealer will most likely certify it and sell it for about 25k or more

 

Lexus cannot certify a vehicle that is more than 6 years old

 

I personally wouldn't use Edmunds or KBB as my barometer, as neither are reliable sites. Your starting point should ALWAYS be NADA.com. Anyone puchasing your car who needs a loan to purchase it will be going to their bank or credit union and every bank on the planet uses NADA and no other source when determining value. I've sold a whole lot of cars in my life (a bit of a car enthusiast) and I never even look to any other site, because it's simply not relelvant in determining what someone can get for a loan. Now, that said, you can probably get a bit more of a premium for such a unique vehicle (i.e. such low miles). The bottom line is that someone in the market for an 04 LS isn't likely going to find more than one or two in the country with the mileage this low, so it puts you in a good position, if someone is willing to pay for such a low mileage car.

The other factor not to be underestimated is the color combiination you have. Almost everyone has preferences when it comes to the color and most (including me) have certain colors they simply will not purchase. I wouldn't take a gold (tan...or whatever else you want to call it) car if you gave it to me for free, so that will definitely factor into the equation for most people when determining what they are willing to pay for a vehicle. My experience with cars tells me that the most desirable colors are usually black, white, or dark gray, with silver bringing up the rear. Best of luck on your sale.

John

 

If you know someone who is in the car business it doesn't hurt to find out what they are going for at the auction.

 

Most dealers are guiding people toward the edmunds.com price for trade in value as they tend to run low. Look at all the guides and comparable vehicles for sale on autotrader. If you just need a valuation for insurance / net worth purposes, I use the KBB private party, good condition price.

 

I'm currently putting our '03 Ultra Lux up for sale and I've used a combination of eBay, Craigslist, NADA, KBB and Car Fax. NADA didn't have the UL package option, so the $18.5k they estimated was a bit low to me, also considering we put on 20" staggered wheels.

Car Fax was interesting in that after we ran the report, it actually told us to price +$1100 over private party blue book because of the clean history, few owners, UL package and wheels. If I get the asking price, it was definitely worth the $35 to run the report.

R

 

^^^
I think oversize wheels likely detract from the value of a car like the LS because you need to find a buyer who doesn't want it stock (assuming you aren't selling the stock wheels with the car) and the buyer needs to have the same taste in wheels. When I was shopping, I skipped ads that showed cars with aftermarket wheels as I felt the owner may have hacked up other things in the car and it was likely owned by a young person. Yeah, I know that may be stereotyping, but that's been my experience in the past.

 

Yep I agree - when I was shopping for a used LS and came across a car with oversized custom wheels I just hit the "next" button. Now I am an older more conservative part of the overall buyer demographic but I'm gonna guess that the majority of used LSA buyers may feel the same. Although I am certain there is a also a group of LS buyers that would highly value the custom wheels - just don;t know how sizable the group is.

It may be better to put back on the stock wheels and tires if you have them and they are in good shape and then sell the custom wheels as a separate transaction.

 

That's interesting b/c when I was negotiating a price for my used LS, the sales manager pulled out a hard copy of KBB. I don't know if the fact that I didn't get a loan had anything to do with that....