LS460, smart purchase?
07-06-18, 02:26 PM
#1
Driver School Candidate
Thread Starter
LS460, smart purchase?
i realize I am all over the place in wanting a Lexus. Just want to get out of leasing. My local dealer has a gorgeous 2007 LS 460 with ML audio, park assist, etc.. it does not have air suspension. I just drove it, buttery smooth for 100K, inside is looks new, love the V8! What's a fair price to pay? they are offering it up for 14,389, which i told the used car manager is too high. They have gone to no haggle. they trade value they are offering is fair, but id be paying $440 a month for a 2007, and that just aint right...but is an LS worth it? it was a 1 owner with all service records. I was surprised to find it has an aux input and spare 120v in the center console. The seats were to die for comfy.
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sdhayesky (07-06-18)
07-06-18, 03:16 PM
#5
Lexus Fanatic
The LS is a great car, but I would absolutely not pay $500 a month for a 12 year old car...
07-06-18, 04:36 PM
#7
Pole Position
I just traded in my 07, they gave me $7,000 for it. It had 178,000 miles and they told me they were getting $5,000 at the auction with that type of mileage. I tend to believe them because a couple years ago I tried selling it on Craigslist for $15,000 (it had 130,000 mikes on it at the time). I never received one single offer above $11,000.
So no I wouldn't pay $14,389 for an 07, no way in hell. They won't get $14,389 for that thing...financing for an eleven year old car isn't realistic for most people, the rates suck and most people won't spend $400-$500 a month for an eleven year old car. That eliminates most of their buying market. They have no leverage. And once people start taking vacations - like they're doing right now - their dealership will be a ghost town, they'll be begging for someone to buy it for $12,000...probably $11,000. It's a terrible terrible time of year to sell cars. Buyers have the leverage right now.
So no I wouldn't pay $14,389 for an 07, no way in hell. They won't get $14,389 for that thing...financing for an eleven year old car isn't realistic for most people, the rates suck and most people won't spend $400-$500 a month for an eleven year old car. That eliminates most of their buying market. They have no leverage. And once people start taking vacations - like they're doing right now - their dealership will be a ghost town, they'll be begging for someone to buy it for $12,000...probably $11,000. It's a terrible terrible time of year to sell cars. Buyers have the leverage right now.
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diamente (07-10-18)
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07-06-18, 05:42 PM
#8
Driver School Candidate
Thread Starter
haha, i said that pretty much. the sedan market is dying, and it was an 11-12K car. for $440 a month, I'll keep my damn lease and the tax write off i get with it. they have a lovely GS350 AWD with 78K on it for 12,980, and it's been sitting. I might have bought it, but the trunk was too small.
07-06-18, 06:06 PM
#9
Racer
haha, i said that pretty much. the sedan market is dying, and it was an 11-12K car. for $440 a month, I'll keep my damn lease and the tax write off i get with it. they have a lovely GS350 AWD with 78K on it for 12,980, and it's been sitting. I might have bought it, but the trunk was too small.
07-07-18, 09:37 AM
#13
Intermediate
Four months ago I bought my 07 LS with 104K miles, immediately put on new front brake rotors and pads and new tires for another $1000.
I bought it from a private party, an older man who bought it new at Lexus and had it serviced there every 5000 miles, perfect condition.
He hated to try to sell it himself with Craigslist and newspaper advertising, tire kickers coming over to his house ect.
I had a 1997 Lexus LS400 with 200,000 miles and I was ready for a major upgrade so when he offered it to me for only $11k I jumped on it.
I know you can buy an equally good 07 from a private party for less than a dealer price, they buy wholesale and mark up thousands.
The good thing about buying from a Lexus dealer is you can kind of hold them responsible for some things which you cannot private party.
I bought it from a private party, an older man who bought it new at Lexus and had it serviced there every 5000 miles, perfect condition.
He hated to try to sell it himself with Craigslist and newspaper advertising, tire kickers coming over to his house ect.
I had a 1997 Lexus LS400 with 200,000 miles and I was ready for a major upgrade so when he offered it to me for only $11k I jumped on it.
I know you can buy an equally good 07 from a private party for less than a dealer price, they buy wholesale and mark up thousands.
The good thing about buying from a Lexus dealer is you can kind of hold them responsible for some things which you cannot private party.
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diamente (07-10-18)
07-07-18, 09:55 AM
#14
First, I believe the 14k price is fair if you have all the service records and there are no issues.
Second, not sure how you get the 440 payment. What is term? Are you looking for early termination of lease and they are rolling some of that cost into the note?
Second, not sure how you get the 440 payment. What is term? Are you looking for early termination of lease and they are rolling some of that cost into the note?
07-07-18, 01:33 PM
#15
Driver School Candidate
Thread Starter
Yes rolling my buyout in. I offered way less and more for trade and they might take it but I asked for new rotors as well. $13,500 for theirs.