Kindred

Hi,

I am currently looking into purchasing a 2003 SC 430 with 219k miles. I want to know whether or not this is a good deal. My friend is asking to make a deal in trading my car which is at 205k miles and also pay him $4000. Kelly Blue Book value on the right now ranges from $1300-2000. So it would be total of $5300-6000 investment. He told me he put in a lot of work into the car and is giving me the car as a loss and being a generous friend after driving my junky corolla for so many years. Said that he will also take car of me first 3 months of owning. Im just curious to really see what you guys think and whether it is a good value.

Here is what he says he has done with the car in the last month.
-Timing belt replaced
-4 New Brakes
-4 New Tires with 18" rims
-Transmission flush
-Oil changed
-Interior is in great condition

A few cons that I noticed when i test drove the car
-VCS light was on. He did say that he reseted it today and it is no longer there. Should I still be concerned?
-Back left speaker did not work
-Navigation system showed error - he said he has the cd and just need to reinstall the maps
-Chips on the front hood/bumper
-Minor scratches throughout the car
-The wheel was vibrating on the freeway. He said it was just the road. I didn't notice the vibrating off of the freeway though and we reached up to speeds of 50mph. Should this still be a concern?



All in all, the car is still beautiful and id like to use it as a daily commuter for 2-3 years and buy another car. I am pretty much a rookie when it comes to this so any advice would be appreciated. Thanks!


-Kindred

Jabberwock

Do not buy the car unless you you exactly what you are getting into. SC430s are wonderful very reliable cars but when they have high miles like the one in question they can have expensive problems unless they have been well maintained. Take it to Lexus and have them inspect it and give you an estimate to fix any issues BEFORE you buy it. If the seller balks or refuses to allow you to get the Lexus inspection - walk away.

jzdulexus

Well, it sounds like he takes pity at your driving the junky corolla and is being helpful as a friend. If the car works out he would think you owe him thousands for getting a deal, if it doesn't you would be forking over thousands for fixing the car. Either way its not a good situation for your friendship.

mandyfig

I agree with the friendship thing. Nothing will spoil a friendship but a deal gone bad. Nobody wins.

This is not a good reason to buy an SC. JM2C.

Kindred

Thank you for the feedback everyone i appreciate it.

Friendship aside, is paying $4000 cash dollar investment worth it for an sc 430 at 219K miles? He recently purchased from a lexus dealer. Does this mean anything? Is it within Lexus policy to sell you a used car that is in bad condition? Again, I am very new to this car selling biz and any experience or input is greatly needed/appreciated

jonas's RX

What I notice is the depreciation curve on the SC has close
to bottom out on almost all years.

What this means is unless you buy an 08-10, any SC that has
about 100K , in very good to excellent condition will still sell for
about 15K in most areas.

once a car reach a certain depreciation curve, they rarely dropped
anymore . What I don't know is when they hit 200K in mileage
what they go for. You have to start factoring repairs then as
I would imagined parts will need to be repaired
motor mounts, transmission mounts, top motor, value cover gadkets
A/C etc cannot be cheap in a discontinued car

Prasha

@ $4000 what is the risk? on parting maybe recover more than that?

jzdulexus

Buying a car is not like buying a house; you would not want to call it an "investment", its strictly consumption. So the question really is: does the consumption fit your lifestyle and budget preferences?
Its curious why your friend wants to sell his newly purchased very high mileage Lexus. Does he have buyers remorse or he genuinely wants to help you out? Another odd thing is that Lexus dealer normally does NOT sell a Lexus car that old and high mileage. The common practice for Lexus dealership is to get rid off it at an auction. Maybe he bought it at a regular used car dealership instead? I feel he may not be forthcoming with you about the car, which is a concern.

DshngDaryl

I don't know what part of CA you are in, but I think I would consider one of these other cars

https://losangeles.craigslist.org/la...116445808.html
https://losangeles.craigslist.org/an...130759205.html
https://losangeles.craigslist.org/sgv/cto/6132862636.html

Your friend may have the best intentions for you, but I believe all car manufacturers build cars to last a specific amount of miles. They engineer/product test/quality control them to last a specific amount. That is why it seems like eveything on your car seems to go out at the same time.

I do not know what Lexus' design point is, but I bet it is closer to 250K than it is 130K

P.S. Buying a salvage car has it's associated risks, but buying a car that has been keyed is just cosmetic and can easily be resolved (Maybe you can trade your corolla to a Car painter in exhange for the work)

jzdulexus

If the car drives nice and its top works I would not care if its salvage for $4600. Think about it, someone must have spent less than $4600 to fix all the damage! On this car, $4600 damage is nothing.

kevin3344

You should think carefully about this purchase. As others have mentioned it's not the price of the car, it's the maintenance costs. I passed on a high mileage SC430 with 200k a few months ago for one with about 104k, and I'm glad I did. I will have many more years of use out of it and the resale value will be higher (although I have no intentions on selling it). Even so, I had to replace a battery and a power steering hose (par for the course with a 15 yr old car). If you have to sink $5k into it you might as well wait and purchase one for about $11-12k like I did. Keep in mind, after purchase price and any maintenance you will still only have a car with 219k. I'm not saying don't purchase it, as I have a GS400 with over 225k and not a single problem. I'm just saying you have options.