Washed title 1998 LS400 on Craigslist
12-10-17, 08:35 AM
#1
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Washed title 1998 LS400 on Craigslist
be careful with this car posted on Asheville NC CL everyone, I was so tempted to buy it, but luckily I ran a carfax.
Guy is asking $3900 OBO, that's with the assumption that it has a clean title. 124k miles.
https://asheville.craigslist.org/cto/d/1998-lexus-ls400/6384904393.html?lang=en&cc=gb
It was advertised as clean title, but turns out it was previously rebuilt salvage.
Looks like it was transferred to a state with more lenient title laws (TX) and the rebuilt status was wiped away. Very sketchy if you ask me.
Low miles caught my eye, and I love the color and it actually looks pretty clean, but couldn't bring myself to offer more than $2500 for it. Seller got offended but claims he sells rebuilt cars for a living, so he may be behind some of the sketchiness. I guess he's banking on someone not running a carfax.
Anyone else have an opinion on what it is worth?
Guy is asking $3900 OBO, that's with the assumption that it has a clean title. 124k miles.
https://asheville.craigslist.org/cto/d/1998-lexus-ls400/6384904393.html?lang=en&cc=gb
It was advertised as clean title, but turns out it was previously rebuilt salvage.
Looks like it was transferred to a state with more lenient title laws (TX) and the rebuilt status was wiped away. Very sketchy if you ask me.
Low miles caught my eye, and I love the color and it actually looks pretty clean, but couldn't bring myself to offer more than $2500 for it. Seller got offended but claims he sells rebuilt cars for a living, so he may be behind some of the sketchiness. I guess he's banking on someone not running a carfax.
Anyone else have an opinion on what it is worth?
Last edited by Scraape; 12-10-17 at 08:55 AM.
That sucks to have "dealers" or other side people doing this type of business by not disclosing such details.
12-13-17, 09:17 AM
#4
Good catch. I know salvage or rebuilt titles usually should discount the price some, whether it makes sense or not. So a smart buyer will hopefully have and use this info to get a discount.
But realistically, it was rebuilt 15 years ago. I expect any problems would have made themselves apparent by now, if there were any.
But realistically, it was rebuilt 15 years ago. I expect any problems would have made themselves apparent by now, if there were any.
12-15-17, 12:47 PM
#5
Problem with salvage titles is on an older car a dented fender will cause that to happen. Really stupid stuff. A rebuilt title should only apply to a car that had sections cut out and welded in like a quarter panel or something. And on a newer high dollar car even that will NOT cause a salvage or rebuilt title. Its only when the repair would cost more than a price guide says the car is worth when it is done. And pure non sense.
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