I have been thinking about purchasing a 06 Lexus LS430 with 240k miles on it. It's in decent shape, but kinda seems like it was a travel car. In 2013 the car had 80k miles on it, and 6 years later has gained 160k miles, so that's what my suspicion is. I just don't want to end up buying a dud. What would you say is a fair asking price for it? Considering there is no car service report, and I don't want to purchase a review from Carfax.

 

Buying anything with 240,000 miles entails some (perhaps considerable) risk. I don't know what a "car service report" is, but you can check its Lexus dealer service history on the Lexus website. Although now quite pricey for a single report, Carfax's best value is for records on 6 vehicles for $100.

The maximum asking price (absent any details except mileage) would be somewhat less than $6000 for a stellar example. Deduct from there for problems or needed service.

 

My sister has an 02 LS with 267,000 miles on it. We bought it with 236,000 miles on it five years ago. It didn’t need much work when we first got it but now it’s starting to need more maintenance done. We did the 90k service, replaced brakes, radiator, installed coilovers in place of the old struts, and a new battery. The only other work it needs is suspension stuff like lower control arm bushings, tie rods, and a set of engine mounts. Outside of the radiator blowing up in the local dealership’s parking lot, it’s never left us stranded.

It’s not a bad idea to get the car. In the event that you buy it and need parts, RockAuto and eBay will be your best bet for OEM parts. Using those websites for parts has saved me a fortune on our LS430’s and GX470.

 

The way I see this is that you can pay for an inspection or pay for the report. If the shop that does the inspection is thorough then you have a pretty clear basis for the decision. Carfax reports can be incomplete but for the price they give a general indicator. Their cost isn't bad in these situations where there is no ready paper trial available.

 

It varies all over the place but I personally think it should be 4 figures. Set some money aside for any needed repairs/maintenance, our cars are getting older and older. The newest ones are about 14 years old.

 

One thing a person can do is take it to a Lexus dealer as if they owned it, not for inspection. The opposite will happen. A free multipoint will be done where it's overly thorough. Now take that report to an indie, and have them do the actual pre purchase. Not all the dealer stuff is made up, just most of it. My theory has always been if a person bought this car for $60k, always dealer serviced it, and one day they are told it needs $7000 worth of work, they dump it for a new Lexus. Now the dealer who sorta made up that needed work sells it on the used lot and makes money on it, and the sale of a new car.

 

Service records are key to your purchase. Without them, it's entirely your call and gamble. Price might not even be pertinent if the car ends up needing major repairs. Regardless of what the mechanic may find the records will reflect not only what's be done but whether the car was cared for or neglected.

 

Not everyone will agree with me, probably most will not. But I don't believe that dealer service records mean much if anything at all. Here's why.

There are all kinds of comments that they think the dealer changed 7/8 plugs because one was hard to do and nobody would ever know, and endless jobs that could be like that. AT the same time, the Lexus business model was to have the car come in every 5k. If one looks at the list of services, it's check this, check that, $500 this. What does checking accomplish (on a car with say 35k miles), and when an entire list of service is to check, was it even done?

Now, go to a car co. where all cars were serviced by the book as in BMW. Does this now mean that all BMWs are great used cars? They have complete and by the book service, because it was free to the owner.

Now lastly, compare the dealer to your indie who lets you walk around their shop and under your car, and shows you the spent fluids and puts the old parts in your trunk. What if a person went there since 0 miles? These shops tend not to bother with carfax. Just food for thought.

btw my car has full and complete Lexus service records to 40k, at which time it went to the 2nd owner and has no records. With me? Last 3 years and 35k? No records. It would not surprise me if I was the 1/3 owners who took the best care of the vehicle.

 

You could have Lexus Service Records if you had registered your car on my lexus.com. Service provided at a Lexus dealer would be automatically added to the Service List. You can even add service done to your vehicle on the Lexus Service. Just enter the data of who and what was done. Of course that doesn't mean much if you can't back it up with receipts, etc. If you have receipts of service/repairs made on you car for the last 35 years, you can still enter those services into the Lexus data base. They will be entered chronologically and appear there. I have done this with my car for the past 12 years. Most of my work is done at my Lexus dealer, but I do routine easy jobs and enter the data. I also keep my records, receipts, in a notebook. I don't think most people know that this process is available to Lexus owners. Try it and see.