CarbonCrew

I'm looking for a late 90's early 2000's Lexus GS300. I've come across many and have seen some really crazy prices (well I think they are crazy). Eg. Today I found a 1998 Lexus GS300 with 100k miles, seems to be in decent condition. They are asking $12,999. I've reasearched the price of the vehicle and have come up with the following KBB Retail: $8550 Edmunds Retail: $8807 NADA: $11350. Even the NADA (which I think is really high) is being blown out of the water. AND these are retail prices! Private party values are coming in at $6500-$7000 range. I know when I go to trade in a vehicle, I most always get quoted the KBB Trade In Value. I would be inclined to think they would price their vehicle using the same source. However, that is clearly not the case.

And this is not an isolated circumstance. I'm finding similar examples all over the place. Am I missing something or are these guys asking too much for the vehicles? Any light that you can shed on the subject would be greatly appreciated. Thanks for the help!

LexFather

You will find those that price their cars higher for whatever reason. Just take the time to shop and find the car for you. Higher examples traditionally have either lower miles and/or are in mint condition and/or are in some rare option or color.

LexFather

oh and welcome to Clublexus!

paradox

I've seen that too... Many potential sellers have been using the increased gas costs to justify higher prices for 6-cylinder cars, as well as 4bangers that could be had for the proverbial song and dance awhile ago. The general perception of 8 cylinder vehicles as being less economical, and the market backlash against them resulting in their degradation in value, have also allowed for smaller size engines to command a higher price point. What that means for you, though, is that -if you were interested- you can purchase a GS4 for a much cheaper price today, than you would have a year ago. I still intermittently peruse Craigslist, Autotrader and the newspaper classifieds since I purchased my GS4 earlier this year, and I have seen comparable GS4's (and, to a greater degree, LS4's and GX470's) advertised for almost up to 4K less than they were at that time.

swat1727

iTrader: (2)

i paid 18k for my 2001 gs300 in 2006. it's a lexus, i dont think u can get one for 6k. ppl sell a 2000 civic for 6000

augdogg

Truth is although these quotes exist, the seller will be lucky to get the same or more. If they took it to a dealership they would get even less. So if they wanna hold out cool but if they don't tell'em you'll offer this amount (reasonalbily w/i qoutes) or they can get less tryin to resell it to a dealer or someone unfamiliar w/ book values...

AllBlackon

fyi, as some1 who works in the insurance industry i can safely say that even on the kbb website they state that they dont guarantee the amount they list and they dont buy vehicles. For a good market evaluation of your vehicle I would just check local listings in your area. Hope that helps....

4ntvings

iTrader: (6)

research is your best friend. check the hi's/lo's in your local area.
GL!

SoCalSC4

I would think for $6-7K these examples would be pretty beat,
perhaps even flood damaged or salvaged. If you're looking at
cars on a used car lot or auction, these are suspect as you can't
really know their history. Look for Bondo, rust, water damage,
repainted panels, etc. If you don't care about this, just buy
any GS, but be prepared to sink some $ into it at some point.

On the other hand, what most people consider "clean" I would
consider needing new paint, leather, wheels, etc.

JoelGs

iTrader: (1)

Real reason why they put these cars in such high prices is because they tags you with
the smog fees + license fees and all other parts that needed. For example, if the dealer
takes in a car for $4500 then they would simply tags $1600 on top of it cover for their
fees. Yes, it seem crazy but it true. Just keep on looking around, you might find something
out there that suitable for you..DO NOT RUSH it!!!

Och

iTrader: (3)

Just a note... In the used market, GS300 and GS430/400 go for almost the same price. I suggest you get a 400/430, you wont regret it. Its a lot more powerful, I believe has bigger brakes, comes stock with a sick looking HID/yellow fog combo, and usually 17" rims if you prefer sportier ride.

KNEXX

iTrader: (1)

I agree the true market value in your area is the best gauge.

WVGS4

Listen to the guys when they say get the 400/430. The enjoyment of having the V8 under your foot will cover the extra cost of gas.

Och

iTrader: (3)

Except the V8 gets the same mileage as the I6, maybe just slightly worse in the city, so there wont be any extra costs.

CarbonCrew

Wow... Thanks for all of the replies. Usually first posts get answered by "search noob!". Whenever I do get a GS, there will be a GTE swap in it's near future. I had pretty much ruled out the gs400/430's due to swapping ease.

Something odd I found today as well. I was originally looking for a SC300 and decided I would be better off with a GS300. Well I just checked the KBB Private Party Value of a SC300 similar to the GS300 I described above and it is valued in the $8500 range.

Welp, the search will continue. I making things hard on myself as I just looking for cars with black interiors. Perhaps I should loosen my search up a bit.

Thanks again.