Hello gentleman. I have been perusing this forum the last few days along with other Lexus related sites and would appreciate some insight/opinions regarding my very near future purchase.
I found a 2001 LS430 with 106k miles at a reputable dealership. I was in the car business several years ago and always prided myself in negotiating mutually beneficial and satisfactory deals.
This dealership was asking $10,000 for the above mentioned vehicle. I viewed it and test drove it two days ago. Honestly the car is in showroom condition, it barely looks like it was driven at all. The carfax showed two owners and all required services performed by a near-by Lexus dealership. It also had documented proof of the timing belt/water pump service/replacement done at 105k at the same Lexus dealership. Admittedly this car is pristine, not a spec of rust to be found on the body or even underneath. The only issue I could remotely complain about upon driving it was that the brakes felt soft and that I needed to be firm in pressing down the pedal to get the vehicle to respond. Now granted I just did my front brakes in my 530i and they grip very well so it may just be the difference in feel but other than that the LS performed flawlessly and every power option worked perfectly.
They would hardly budge on the price, I offered $8000 cash and did a walk out, was called the next day I offered $8500 cash and still was told they had no room to negotiate to that extent. Long story short they finally committed to $9200 with a 30 day warranty, inspection sticker and 20 day plates.
I guess I am looking for some sort of confirmation that this is a valid/fair price and would look to pacify my slight feeling of buyers remorse although I have not signed the p&s agreement just yet.
Thank you for reading my rant and appreciate any input regarding this purchase.

 

Well, first of all, welcome to the forum. I bought my 2001 LS 2 years ago and paid 7300 for it from the owner. At that time it had 104K on it and the TB had just been done. It needed brakes, which I did myself and I had to lubricate the tilt motor for the steering wheel to get it moving again.
Also had to repair the Sub, but most LS's need that...

To me, 9200 seems high for a 16 year old car, but it is a dealership, so they will demand a little more than private party sales. If it's as clean as you state it is, then perhaps it's worth it to you, but you no doubt could find one a few years newer for the same money.

.02

 

Congrats! I've been an owner for a week.

the brakes are soft, and my fronts are brand new oem rotors/pads (supposed to be, old parts were left in trunk 4 bolts, sensor, rotors pads which were only 20% worn but I wanted new and old hats rusted...incl Toyota boxes....do they pick them out of trash "for show" lol).

i have a '07 335i zsp and when I drove it yesterday, there are no similarities whatsoever. Not sure what year your 530i is.

as for price who can say? You walked out, so it implies they would not be game. I have seen when a car sits, the price drops on cars.com, to a price they did not entertain 30 days ago. If you are happy, that's what counts.

 

Thank you gentleman for weighing in on this matter, I appreciate the feedback.
I have found several other LS's for less money but none of them came close to the condition this one is in nor did they have the same amount of documented service.
As mentioned by Johnhav430 my happiness and peace of mind are worth a lot.
I think I will pull the trigger on this deal. Car shopping can be exhaustive and this one really does stand apart from the rest I have viewed.
Again, thank you and I look forward to the advice of this forum for future needs.

 

I agree with John in that if you are happy, that's what counts. You didn't mention which edition the car is ie. base, modern luxury, sport, custom luxury or ultra. That would help in figuring out a fair price but from your description, the car sounds special particularly with the low miles on a 15 yr old vehicle.

 

Thank you sir.
I believe it is just the base model but it met all the criteria I was looking for.
I am actually purchasing the vehicle for the benefit of my mother, she has Alzheimer's and is rapidly declining along with severe knee/hip issues. She was no longer able to get in/out of my SUV and the BMW's low stance and sport suspension does not provide a comfortable ride for her. I test drove a LS with her a month or two ago and she was quite comfortable and really enjoyed it. I really feel that this vehicle will provide the safety and comfort I desire for her.
I also was purposely trying to find a LS without the air suspension. Due to all my responsibilities I really needed a comfortable low maintenance vehicle since my time is limited and after reading all the reviews regarding this model I felt like it was the best choice.
She loves heated seats and after I personally sat and tested out the passenger side I am sure she will be loving it
Thank you gentlemen for your responses.

 

Now that our cars are changing hands more frequently, the condition of many of the cars is going downhill faster and the ability to find a well maintained straight one harder and harder. Therefore be prepared to pay that extra few thou for the nicest of the cars, but just remember that they are still pretty much old cars and will require repairs regardless of maintenance records which may be costly. This is the cost for LS430 ownership. As long as you have a base model you are ahead of the game. Good luck.

 

Thank you for your input Bocatrip.
The dealership delivered the car yesterday and I am officially a Lexus owner.
I have only driven it about 15 miles so far but it was long enough to make me smile and appreciate the comfort and technology that it possesses especially for being considered an old car. I noticed it was equipped with the Mark Levinson signature stereo and was wondering if that came standard with all LS models....I have not even turned the stereo on yet but am looking forward to testing it out.
So not to my surprise I became aware of a couple minor issues. Right rear tail lamp bulb is out and the auto tilt/telescopic works fine retracting but sounds like it needs lubrication upon extension/lifting.
Read every thread here regarding the TT and decided I will personally take a stab at it and see if I can revive it, in the event I can not or feel that it is beyond my mechanical abilities I decided I would disable the function via dealership or perhaps a recommended diagnostic/software program.
My thanks to all the other previous owners for the wealth of information available here.