shopping for a 98-00 GS400
02-16-06, 11:00 AM
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shopping for a 98-00 GS400
I've been watching in the San Diego (or Orange County) area for a decent GS400 in the $15k to $20k range.
For pricing research, I look at KBB (which I understand to be somewhat inflated in a seller's favor; a "suggested retail value") and Edmunds's TMV (which is supposedly a reflection of the actual market). While I've always trusted Edmunds for new car pricing, I'm trying to figure out why there appears to be discrepancies in the used pricing.
Here's an example of an LS400 and a GS400, both from Lexus dealer listings:
1998 Lexus GS400 77k miles ask:$19,400 KBB:$22,230 Edmunds:$16,501
1999 Lexus LS400 73k miles ask:$18,000 KBB:$23,025 Edmunds:$18,642
I tried bargaining with a local dealer starting from the Edmunds TMV, and he practically kicked me out of the lot. Granted, that particular lot specializes in financing; they seem to be focusing on people with iffy credit who are willing to trade a decent finance rate for a higher price. My credit is fine, so I'm more concerned about the bottom-line price.
Either Edmunds is overvaluing the LS400 or undervaluing the GS400. I have noticed that there is a larger inventory of LS's...is that the only reason for the pricing disparities?
Other notes:
So far, I'm not aware of any issues to watch out for in the GS400, other than to check to see if brake rotors and pads are aftermarket (without shims) or OEM (with shims). Not a big deal, but some of the aftermarket kits without shims can be noisy.
To those of you who've driven the GS400 and the LS400...is the GS significantly more fun to drive than the LS? I wouldn't rule out an LS....respective stock 0-60s are 5.8 and 6.5, which isn't too big of a difference.
For pricing research, I look at KBB (which I understand to be somewhat inflated in a seller's favor; a "suggested retail value") and Edmunds's TMV (which is supposedly a reflection of the actual market). While I've always trusted Edmunds for new car pricing, I'm trying to figure out why there appears to be discrepancies in the used pricing.
Here's an example of an LS400 and a GS400, both from Lexus dealer listings:
1998 Lexus GS400 77k miles ask:$19,400 KBB:$22,230 Edmunds:$16,501
1999 Lexus LS400 73k miles ask:$18,000 KBB:$23,025 Edmunds:$18,642
I tried bargaining with a local dealer starting from the Edmunds TMV, and he practically kicked me out of the lot. Granted, that particular lot specializes in financing; they seem to be focusing on people with iffy credit who are willing to trade a decent finance rate for a higher price. My credit is fine, so I'm more concerned about the bottom-line price.
Either Edmunds is overvaluing the LS400 or undervaluing the GS400. I have noticed that there is a larger inventory of LS's...is that the only reason for the pricing disparities?
Other notes:
So far, I'm not aware of any issues to watch out for in the GS400, other than to check to see if brake rotors and pads are aftermarket (without shims) or OEM (with shims). Not a big deal, but some of the aftermarket kits without shims can be noisy.
To those of you who've driven the GS400 and the LS400...is the GS significantly more fun to drive than the LS? I wouldn't rule out an LS....respective stock 0-60s are 5.8 and 6.5, which isn't too big of a difference.
02-16-06, 11:22 AM
#2
I bought my 99 GS4 a few weeks ago, south florida, 70k miles for $15,200, and it is almot mint minus a scratch on one door, just for your reference. I probably could have found one cheaper, but didn't want to wait and it was a southern car, with no rust, etc. etc... underneath it looks new.
02-16-06, 11:35 AM
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Edmunds is pretty good for pricing. I bought my 2000 GS4 with 90K mi for $14K this Monday 
. I was happy with the price and the car is GREAT condition. Did I mention I enjoy this car, no, I really ENJOY this car!! My price was a lil bit less than edmunds FMV for private party. Edmunds was also dead on for what we got my wifes pathfinder. There prices are usually quite a bit lower than kbb, and nada but I think they are much more representative of the value of used cars.
Those buy here pay here lots typically only exist to rip off people with credit problems. They generally don't negotiate because there target market for the most part can't really go anywhere else for car shopping.
In short keep looking if you have the cash there are deals to be had out there it took me about two months to find the vehicle I wanted for the PRICE I wanted to pay. YMMV.
Good luck in your search. And don't settle for less than what you want!!
The ATLien
. I was happy with the price and the car is GREAT condition. Did I mention I enjoy this car, no, I really ENJOY this car!! My price was a lil bit less than edmunds FMV for private party. Edmunds was also dead on for what we got my wifes pathfinder. There prices are usually quite a bit lower than kbb, and nada but I think they are much more representative of the value of used cars. Those buy here pay here lots typically only exist to rip off people with credit problems. They generally don't negotiate because there target market for the most part can't really go anywhere else for car shopping.
In short keep looking if you have the cash there are deals to be had out there it took me about two months to find the vehicle I wanted for the PRICE I wanted to pay. YMMV.
Good luck in your search. And don't settle for less than what you want!!
The ATLien
02-16-06, 11:37 AM
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Originally Posted by lexforlife
would you be interested in mine i might be selling shortly everthing in my mod list execpt the big brakes 9will replace with supra tt) and wheels looking for about 22k 
02-16-06, 11:37 AM
#6
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Originally Posted by lexforlife
would you be interested in mine i might be selling shortly everthing in my mod list execpt the big brakes 9will replace with supra tt) and wheels looking for about 22k
02-16-06, 11:40 AM
#7
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Jamie, welcome to ClubLexus!
I own both a 98 LS400 and 98 GS400; performance stock vs stock isn't all that different. GS handles slightly better but is less cushy and a bit louder. The LS is a bit bigger inside and bigger 'feeling'.
There have been a number of threads asking a similar question that will be helpful
https://www.clublexus.com/forums/sho...d.php?t=127071
https://www.clublexus.com/forums/sho...d.php?t=127069
https://www.clublexus.com/forums/gs-2nd-gen-1998-2005/92272-potential-buyer-for-gs-or-ls-need-opinion.html
https://www.clublexus.com/forums/sho...d.php?t=142551
https://www.clublexus.com/forums/sho...d.php?t=142442
I own both a 98 LS400 and 98 GS400; performance stock vs stock isn't all that different. GS handles slightly better but is less cushy and a bit louder. The LS is a bit bigger inside and bigger 'feeling'.
There have been a number of threads asking a similar question that will be helpful
https://www.clublexus.com/forums/sho...d.php?t=127071
https://www.clublexus.com/forums/sho...d.php?t=127069
https://www.clublexus.com/forums/gs-2nd-gen-1998-2005/92272-potential-buyer-for-gs-or-ls-need-opinion.html
https://www.clublexus.com/forums/sho...d.php?t=142551
https://www.clublexus.com/forums/sho...d.php?t=142442
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02-16-06, 11:46 AM
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Originally Posted by ATLien
Edmunds is pretty good for pricing. I bought my 2000 GS4 with 90K mi for $14K this Monday . I was happy with the price and the car is GREAT condition. Did I mention I enjoy this car, no, I really ENJOY this car!! My price was a lil bit less than edmunds FMV for private party. Edmunds was also dead on for what we got my wifes pathfinder. There prices are usually quite a bit lower than kbb, and nada but I think they are much more representative of the value of used cars.
Those buy here pay here lots typically only exist to rip off people with credit problems. They generally don't negotiate because there target market for the most part can't really go anywhere else for car shopping.
In short keep looking if you have the cash there are deals to be had out there it took me about two months to find the vehicle I wanted for the PRICE I wanted to pay. YMMV.
Good luck in your search. And don't settle for less than what you want!!
The ATLien
. I was happy with the price and the car is GREAT condition. Did I mention I enjoy this car, no, I really ENJOY this car!! My price was a lil bit less than edmunds FMV for private party. Edmunds was also dead on for what we got my wifes pathfinder. There prices are usually quite a bit lower than kbb, and nada but I think they are much more representative of the value of used cars. Those buy here pay here lots typically only exist to rip off people with credit problems. They generally don't negotiate because there target market for the most part can't really go anywhere else for car shopping.
In short keep looking if you have the cash there are deals to be had out there it took me about two months to find the vehicle I wanted for the PRICE I wanted to pay. YMMV.
Good luck in your search. And don't settle for less than what you want!!
The ATLien
I'm not too picky about options; colorwise, my top pick would be Spectra Blue (though I realize those are hard to find, 5% made in that color) with Cinnibar, Black, or White being my other choices.
02-16-06, 12:04 PM
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KBB vs. Ed
I think the relation between how closely cars sell at vs. kbb or edmunds is also dependent on your location. In some areas the cost of cars is just higher - esp resells. I have never met a dealer that was willing to discuss edmunds for either a sale or a purchase. They are usually set on low kbb and high kbb. I bought my 98 gs4 in december with 88k towards the bottom of that price range. Given I got a good deal but I also had to have 90k service done and it needs new tires (not bald yet just very cupped). This was for standard setup + CD Changer, Moonroof, HID, 17" factory upgrade.
Also, i may be biased, but having driven the ls & gs I way the gs is hands down more enjoyable. I guess it depends on your style of driving though.
Also, i may be biased, but having driven the ls & gs I way the gs is hands down more enjoyable. I guess it depends on your style of driving though.
Last edited by shiwen; 02-19-06 at 08:06 PM.
02-16-06, 12:29 PM
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2 more pennies from the ATLien.
I think you will find the best prices and cars through private party sales. That was one reason my search took so long. I thought some of the dealers were frankly out of their minds for the prices they wanted and I saw that the better deals and cars were sold by owners. I think that being able to talk to the owner gives you a good feel on how the car has been treated (along with a car fax and inspection).
One last thing, let Lexus do an inspection cost me $100 bucks a pop but it saved me from a bad deal (short version 1st deal the car had a door that had been replaced, transmission mounts were bad, evidence of undisclosed body damage, you get the idea). Saved me a ton of money and headaches because the car looked pristine to me but the hidden problems were there.
Good luck bro!!
The ATLien
I think you will find the best prices and cars through private party sales. That was one reason my search took so long. I thought some of the dealers were frankly out of their minds for the prices they wanted and I saw that the better deals and cars were sold by owners. I think that being able to talk to the owner gives you a good feel on how the car has been treated (along with a car fax and inspection).
One last thing, let Lexus do an inspection cost me $100 bucks a pop but it saved me from a bad deal (short version 1st deal the car had a door that had been replaced, transmission mounts were bad, evidence of undisclosed body damage, you get the idea). Saved me a ton of money and headaches because the car looked pristine to me but the hidden problems were there.
Good luck bro!!
The ATLien
02-16-06, 01:10 PM
#11
Originally Posted by markgs4
I wouldve jumped all over this two years ago. Not only did Ed do all the work on his car, but hes a fanatic about keep it well take care of. If you're in the market for a 98, consider spending a little more and getting a car already fully modded by one of our CL elder statesmen....
02-16-06, 01:11 PM
#12
Originally Posted by shiwen
I bought my 98 gs4 in december with 88k for low kbb - $12,500 at the time. Given I got a good deal but I also had to have 90k service done and it needs new tires (not bald yet just very cupped). This was for standard setup + CD Changer, Moonroof, HID, 17" factory upgrade.
whoa any more specs? dealer or private seller? I'm surprised you found a low mileage car for that price in CA.
02-16-06, 01:22 PM
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i had a pretty strong connection with the private seller. Basically, they gave it to me for what the dealer said they would buy it at - low kbb. come to find out it needed new lower ball joints and has a few small dings around it on the body. I'm def not complaining though.
