Blk04GS430

iTrader: (1)

I found a 2003 GS 430 with about 99k miles for about $15,500 with Mark Levinson sound system and navigation at a non Lexus dealership. The sound system and navi isnt that important to me but its a bonus. I have a couple of concerns and I hope my fellow knowledgeable CL brothers/sisters can help me out.

The carfax looks clean. There are no service records and none of the replacement/maintenance items has been done for 100k service like the timing belt and water pump. I guess you shouldnt expect any service records when you buy a used vehicle 90% of the time from a dealership especially when they obtained the vehicle from an auction or trade in.

The interior and exterior is in very good shape but Im concern about the mileage. I know these cars can probably go to 200k miles easily and I know there are a lot of CL members with cars that has 100k + miles. I know that we would most likely have to do a timing belt, water pump replacement around 100k miles. Are there any other items I need to replace at or around 100k miles like the radiator, etc? Im trying to calculate the out of pocket cost involved for the work that needs to be done after I buy the vehicle. I was hoping that I wouldnt have to spend any money right away after spending possibly up to $15k to buy this vehicle.

I have some tools and I am a little handy. Off the top of the my head I know I can change the oil, brake pads, rotor, bleed the brakes, sparks plugs and drain/fill the tranny fluid. I dont think I can replace the timing belt, water pump or radiator by myself because I dont have the tools and I have never done it by myself.

I also feel the price is a little high for a vehicle with 99k miles. How low can you possibly talk the price down to with the dealership? I know there is a markup but I not sure of the %. I spoke to a sales person there briefly over the phone and they said there is no negotiation on the price because their vehicles are price to sell and the prices are comparable to kbb, etc. The vehicle has been sitting in the lot for at least 90 days and I feel it hasnt sold because the vehicle is 7-8 years old now, maintenance needs to be done and parts needs to be replace at that amount of miles and also the price they are asking.

I really like the 2nd gen GS430 and Im in no rush to buy asap but I would be interested in buying the vehicle if I can get them to drop the price down to like $12,500. I dont know if that is a realistic price or not. I am new to buying vehicles especially at a dealership.

Sorry about the long post. I just wanted to make sure I covered everything. Any info/input is greatly appreciated. Pls help me out! Thanks in advance for your time and help.

Rich23

iTrader: (3)

that price is a bit high...

1QWKGS4

iTrader: (3)

Actually if you check out Edmunds TMV (True Market Value) -- http://www.edmunds.com/tmv/used/

The price is at Dealer retail, but recently my experiences of picking up a GS430 myself, its rather high because you don't have a clear history on the car and no warranties for buying at full-retail. From my experience a good buy range is between $12K to $13,500 (Max)

If they don't budge on the price, just walk away..

Mike813

iTrader: (5)

12-13k was about 3 years ago to me on these vehicles here in nyc dealer & private sellers. now a days the same vehicle runs you around 5-11k max depending on mileage and condition.

Gunnut

Price is high to me as well. Especially with the maintenance required. To get full retail, they should address all the maintenance items.

ThomasGS4

iTrader: (19)

Such a shame some of the nicer GS's were poorly taken care of.

fenderzig

iTrader: (2)

I'm with the consensus here that the price is high. You might have to replace lower ball joints which you can do yourself IF you have some patience and the right tools.

Retail price assumes that the dealership has paid to have the car inspected, all required service done, and fulll detail. The retail price reflects the cost of doing these things. If these things haven't been done then I wouldn't pay anything close to retail.

My 2000 GS400 Platinum with 98K on it cost me $8000 back in January. It didn't need timing belt/water pump but it did need ball joints, plugs, new hood release cable (it seized) oxygen sensor, rotors and pads, and a good detail. I know this is a 2003 GS430 but just for your help and reference....

Good luck!

Blk04GS430

iTrader: (1)

I guess private party is the way to go and as long as they have service records because the dealerships are marking the price up and they dont have any service records.

Triton3k

price is a bit high and mileage is one thing you dont have to worry about with these cars.

Blk04GS430

iTrader: (1)

i spoke sales person and the price has been dropped to $13,000.

i feel it is still high and the 90k-100k service still needs to be done. so im still not sure if i should stay away.

Gunnut

Shoot them 10.5 and list to them the deferred maintenance on the car. let them know it is your final offer and wait to see if they call or counter.
He's already gone from original price being firm to dropping it. See what else is in play. Its getting toward the end of the month so they should be willing to deal.

If you don't get a counter offer, chalk it up to experience.

McKrevice

iTrader: (1)

I paid that much for a 2000 GS400 with 35000 on it. And since the economy is way worse now, that is way overpriced.

ekhatchguy

iTrader: (3)

Hope fully they will work with you if not just find a private seller and go through you bank for financing if needed

krispl

I'm in NorCal and I could do your timing belt service for way cheaper then dealer or other shop.

Blk04GS430

iTrader: (1)

I agree with all of you guys. I should be patient...even though Im in love with the 2nd Gen black on black GS430.

I thought 13k was a good deal because I saw a similar vehicle at another dealership but 1 year newer, a 2004 with 45k miles and they were asking for $18k and sold it for that much. Im glad you guys put some sense into me. The facts are: 7-8yr old vehicle, 99k miles and no 90k or 100k services done for $13k is a little too much in this bad economy or even in a good economy. Thanks for the info and keep it coming.

Im going to call them and offer $10.5k and see what they counter offer.
I currently have a 2002 honda civic si that is paid off and only has 39k miles and im not in a rush to sell it or trade it in.