Hello,

I just started looking into purchasing an LS430. It seems like a comfortable and reliable car.

After finding a few cars on-line and finding they have all been sold, one of the local (Houston) Lexus dealers showed me a car that just got traded in. It's a black 2005 LS430 with the navigation system and about 33K miles. I had a chance to look at it before it got detailed and fixed up, and it's in overall good condition. I have a copy of the maintenance records from the dealer, and it seems the previous owner did a good job of taking it in for the regular maintenance.

The dealer wants to CPO it and sell it for $33K. Even with the CPO, it seems a little high to me. However, I am fairly new to the market and really don't know what's a good price. Do any of you have any advice on whether it's a good price or if I should just wait for a better deal to show up?

Thank you!

 

Finding an LS with very low miles is still possible but becoming more difficult. Based on looking at asking prices (check auto trader.com) across the US, I think a realistic asking price for a low mile CPO 2005 LS430 in near mint cond with Nav would be 28-29k. A similar mint 06 model might go as high 29-33k asking price. What they actually sell it for depends on local demand and the quality of the car. There are also lots of well maintained but more worn, high mile LS430s still avail so those will sell for up to $4-8k less. I find it encouraging that these asking prices haven't dropped much in the last 2 years for the low mile cars.

 

If it is mint, has documented maintenance, is not a base model, and has 33K miles in black (the #1 color) - the book values are not as relevant. Prior post notes the range the car should sell for - but the truely mint ones can go for more. My 03 with 60K miles just sold for 19K - and it was only in very good condition. Mint would have pushed it over 20K (which is what I paid for it 3 years ago).

Used car values are higher now that folks don't want to spend $$ on new vehicles.

Good luck with your search - the LS is the best riding sedan on the road. My advise is to get a certified car from a lexus dealer - it is a little peace of mind (in my opinion).

 

Jabberwock is right the low mileage LS430's are becoming a rarity, especially UL's. Im sure being in Houston the dealer is willing to haggle the price a bit, and you could find some discrepancies (test everything, push all the buttons!) on the car to knock the price down in range. I always crawl in, out, and under cars I consider buying.

33K does seem high to me also, but like tkbalt said used car prices are higher now. I would lowball it at 28 and see where the dealer goes from there (IF it is in supernice condition). I paid 21.5k for my 05' 430 with 55k miles 13 months ago.

 

Thanks for your replies. Since the car hasn't yet been reconditioned, they are willing to sell it to me without the CPO for $30.5K. However, even then the prices seems too high. I am going to go back and take a closer look at the car.

 

If it has a black exterior run away from it as fast as possible. The paint finish is so soft it scratches like crazy no matter what you do. Never, ever will I own another black Lexus. I have had plenty of black cars but the Lexus black finish is less than junk.

 

The $33k price is $5 to $6k too high, even for a CPO. For a bit more, you can almost get a LS460.

Nice to have a low mileage LS430 but if overall condition is on par with a higher mileage version it would be $10k cheaper, that would be a better deal. You will not be able to recoup the $33k price (even more after taxes) if you ever decide to resell within 3 year.

 

Just to understand:

- $33K for completely reconditioned and CPO warranty?

- $30.5K as-is with no reconditioning and no CPO warranty?

If that is true, the $30.5K price is way too high. The car would likely get fresh tires, brakes, thorough detailing, all service brought up to date, and all non-working items repaired to be eligibile for CPO. I don't know about Lexus, but the Cadillac CPO warranty alone used to cost $1K plus the reconditioning costs.

 

Lexus CPO link - http://www.lexus.com/cpo/index.html
Select LS as model without entering Zip code - the result might give you some idea/reference about CPO pricing. Hope it helps!

 

Thank you all for your advice. I ended up deciding to get the car. I was able to negotiate the price down. Could I have done better? Perhaps, but at some point I have to decide whether it's worth my time trying to hunt down a better deal. I already lost a few days' worth of work time looking for a car.

In the end, I think I'll be happy with the purchase. I plan on driving it for the next decade, at least.

 

Congrats. You've read enough to know that pics are required. Also, did you get it CPO or not?

 

So... you got a very much like-new LS430 with a warranty for around 40% the cost of new one... I can understand why your happy! Enjoy the ride...

 

Congrats on the new rides.

 

Congrats and welcome.

The only major problem with owning an LS is that it will spoil you - over time you begin to realize and appreciate how good it is in so many subtle ways - likely spoils you forever but I guess that is a good thing.

Get it washed, clay bar'd and waxed and post some pics - nobody on here ever gets sick of looking at pics of a nice LS : )

 

Thank you, everyone, for the congratulations. We did decide to get the CPO, though I am not sure whether it will be worth it. To a certain extent, I hope not as that would mean the hassle of getting it repaired.

I still don't have the car as they need to take it through the certification process, detail it, etc. Once I get the car, I'll post some pictures.