hello I'm interested in getting the Ls 460 07-10 version. Leaning towards the 2010 though.. my question is my friend got his dealer license and now he's goes to the auctions and get cars. So is it possible to spend 12k and under for a good LS? And what should I be looking for to know if the Ls I'm getting is good? Thanks in advance

 

Absolutely not possible

 

OP, it's possible to get an LS460 for that amount, but whether it would be "good" is questionable. You'd need the service history and a pre-purchase inspection by a mechanic with LS460 expertise, followed by an in-person inspection and test drive to get some idea of this.

You can go to sites such as cars.com to begin your search. Here's one possibility I found, but it would require careful scrutiny:

https://www.cars.com/vehicledetail/d...8068/overview/

ETA: Note that there's no VIN mentioned. I'd want more photos, too. There are no interior shots.

 

You get what you pay for and if it sounds to good to be true its probably is. Auctions and wholesale vehicles can have many hidden problems and many have lost or fake titles. So beware.

 

Just be aware that the "bargain cars" may come with hefty repair bills once you get them home........ Lexus parts and repairs are pricey so I highly suggest spending a little more money on a well cared for car that has a known history and you can take your time to check it out. Keep in mind that the "older" cars that show up at auctions are usually cars that dealers took in on a trade and don't want anything to do with them so they unload them at a auction.
Can a "good deal" be found at an auction?? YES! ...... But rarely. These dealer auctions are very competive with plenty of market analysis on price and NOTHING is given away.

 

One thing your friend should explain to you is that there is no PPI at auctions. What you see, and more importantly what you don't see, is what you get.

I think centuries ago they coined the phrase "caveat emptor" at a chariot auction.

 

Agreed to all of the above. Best advice I can proffer is that the VIN's are disclosed prior to the auctions. Go to Lexus's owner's site: http://drivers.lexus.com/lexusdrivers/
and setup an account and at least you can see whether or not they have been dealer serviced.

If you can find one of the auction cars that does not have a hole in its service history and the aforementioned friend has experience (or you) in being able to tell whether or not a vehicle has had serious damage, you will vastly mitigate risk.

 

Cars of all ages and condition are sold at auctions every day. And therein lies the problem. You need to be a very experienced used car assessor to know the factors that predict the likelihood of problems with any given car. If your friend has just got his dealers license then I suspect he does not fit this description. I suggest you do not go down this path.

 

I think it depends on what part of country you're shopping in, being that you're from NY I can tell you that not far away in Massachussttts these cars are available for under $20,000 on Craigslist, but then again that's not in the under 12k range. I think it'd be tough to find one in that price range that's didn't have 150,000 plus miles on it, or that didn't need a couple thousand in repairs. The control arms are an issue on these cars, I'd look for one that has had those replaced already...that'd probably be one in the 100,000-115,000 range....only problem is in that mileage range that is a car that will probably run for $15,000-$18,000.

 

One last thing. When I purchased mine, I asked one of my older brother's former bosses who owns a dealer what the Black Book value was of the LS460 that I was considering. If not familiar, Black Book is what most every car dealer that I know of uses when assessing trade in value.

In my example, 2007, Short Wheel Base, RWD, Nav/Mark Levinson package, Comfort Plus, no accidents, 87,000 miles, black/black. I was told that wholesale for my example in the Southeast Region is $17,000 and it was a "high demand vehicle" As I ended up paying $16,500 from the original owner, with both new Michelin's and brakes within 8000 miles of sale, I drove 250 miles to Charlotte to purchase it.
Point being, many dealers will not cut loose Lexii to auction unless there are issues and or reconditioning are to the point that profit is a true concern,

Now currently it is getting the "dent that is so minor that I never bothered fixing as you could not really notice" that was just a wee bit understated to the point that the repair went beyond the domain of paintless dent repair and there were enough scratches on the deck lid that I am about to spend almost $900 getting that fixed. So I suppose I really paid $17400 once that is factored in, but I am honestly pleased as punch.

While I certainly found a few cheaper examples, none without at least 30,000 more miles and or accidents and none with a complete service history from new to current all at Lexus. I honestly did not realize the dent was as bad as it was until the morning I left to purchase it as I foolishly did not ask for a picture prior. That said, he showed me the texts and had a half dozen offers at asking. ($17,000) It was fate or somesuch that I was the first person who called and that was within 2 hours of it posting on Autotrader. After running the VIN at the Lexus website I referenced above, while talking to him we quickly struck a deal and made arrangements to meet.

All that said, in spite of doing my due diligence, having a good deal of experience with cars, etc, I still needed the brake actuator replaced once I got back. However, I was cognizant as the records showed him having issues as soon as the last actuator was replaced. This along with the control arms are both quite expensive. Thankfully, the brake actuator is under an extended "service campaign" or whatever they call it when they don't want to spend millions on a recall, but know a part is tending to fail at a pretty high number. Mind you, this is close to a $4000 repair.

 

If your plan is to buy from an auction, I highly recommend you find a way to survey the Lexus vehicles that will be auctioned. Then spend time researching all you can about the select vehicles you are considering. As mentioned, the main thing is to sign up on the Lexus site so you can enter a vin number and get as much detailed service information as was input. Not all info will be listed since anything done outside the dealership (unless manually added by owner) will show. Even a CarFax will not give all details, especially if there was a small collision not reported. So, when spending your money on the unknown, try to find out all you can ahead of time.

Good luck.

 

See my post in the Member Intro/Roll call thread. Just purchased an '08 SWB with rebuilt title and 88K miles for $12K. I know the re-builder (family member) AND the damage and felt confident enough to pull the trigger despite the branded title. Around Chicago, if you want an LS460 around this price, you're looking at a car with close to 200K miles.

 

there at auctions for a reason, mostly dealer rejects that arent decent enough to sell on there lots or leased beaters.

 

I have access to Manheim auction. You can't buy 2010 LS460 for $12k unless it has more then 200K on the clock or has a history of structural damage.