I am looking at a 2004 LS 430 Modern Luxury Package with 49K miles on it. The dealership offered me a 5 yrs / 60k $100 deductible full coverage warranty for $2900. It seems like there are not a lot of major problems with this model but every car is unique, would the warranty be worth it?

 

Not worth it. Put $2900 in bank instead to use in the unlikely case something breaks that costs that much.

 

Thanks, I think I just needed someone to say that and I feel better about not getting it. It's low mileage but 12 years old, anything I should look out for on the car?

edit: has a clean carfax, 2 owners both in FL with lots of lexus dealer service up until 2009/39k miles.

 

Many posts to review. Make sure you go to a second dealership toyota or Lexus to have it inspected, or heck pay to have it inspected at the dealership you are at. Check all electricals, mirrors, steering wheel, Lexus vehicls history, door panel numbers match and ir does not break often. Are you getting any type of warrantee, 30 days or so, with the purchase?

 

Like Warm suggested - take the time to manually test every single option in the car. Make sure all switches and electricals work perfect, locks, windows, mirrors, steering wheel tilts/tele, steering wheel controls, radio, CD, HVAC, etc - everything - it will take you an hour at a minimum.

 

Check the carfax and the Lexus Driver's site. Enter the vin and look around at what was done to the car. If everything works you're ok. You can also take the car to a Lexus dealership and for around $100 they'll give the car a once over if you need to rest your fears about the car.

good luck.

 

skip that 2900 warranty. I'm actually in the same boat as you, looking to buy another LS 04 to 06 model, very low miles meaning under 60k. If the car has been maintained, there are no worries.
As to pricing...i think the market is $17 to 19k for 05 to 06 models with less than 50k miles, solid maintenance and excellent condition, often one owner car, NAV, modern luxury. I'm seeing some Ultra Luxury cars with no real price premium, which is as it should be given the air suspension issue. Having said that, you can save a good couple K if you're willing to go up to 70k miles, which in many cases is a smart thing to do. If you can efficiently inspect the car, I'd be tempted to go that route. I can't, hence the screen down to <50k miles, one owner, etc.
PM me if you want to talk

 

the other thing to mention, ignore the asking prices on the various websites such as cars.com and autotrader from the dealers. Many of those guys are high and the cars are sitting for quite a while, the dealers hoping they get lucky. Be patient, call around and you'll soon see where the market is by the cars that get sold quickly.

 

The book says to replace the timing belt and water pump at 90,000 or after 108 months. I just bought one, same year and mileage, and am looking at that work after having all the fluids replaced.

 

At this point 50-75k miles on 01-04 are extremely low miles. You almost don't want much lower than 50k on a 11 yo car because in my opinion cars need to be at least minimally driven on a regular basis to stay in good operating order.

 

skip the additional warranty. These cars are extremely solid. I can't think of what would go at that low of mileage that would be worth it to put $2900 bucks on the line.

 

As Jabber suggested. Keep that money, the LS will most likely not ask for it anytime soon if it has been taken good care of.