zbimmer

Hello, I'm new here. I'm looking at a 2002 LS430 with the Ultra Luxury package that is for sale. It has 37k miles and original owner. It has nearly every available option. What I'm concerned with is the timing belt hasn't been changed. The owner has a bunch of other cars and this one does not get driven much. It's listed on Craig's List here:

https://reno.craigslist.org/cto/d/le...522580915.html

Clean carfax with a noted parking lot front bumper hit and repainted bumper cover. Other wise the car is immaculate. It is truly like new. Do you think the asking price is fair? What do you think about the car still on the original timing belt? There are other folks looking at the car and I need to make a decision before someone else gets it. Any comments or opinions are welcomed.

InToyoda

I would say the price is a little high, but I do not like the lighter colored interior vehicles (hard upkeep + unattractive , again, personal opinion - you could say black interior gets too hot on the same token) so i am biased, and it is also an 01-03 LS - (not the updated body 04-06 w/ 6speed trans too)

the timing belt is due as you mentioned (10years/90k).

While the price may be high it is harder to find lower mileage LS430s these days. It's really up to what you think the car is worth and what you are willing to spend

I would check the air suspension all around. check fluids, the lack of being driven is what would scare me here,

goodluck!

zbimmer

I've driven and looked at the car a couple times. There are zero leaks or issues anywhere. The owner does take it out every month or two to keep things lubed up. He's a BMW M car collector. He's looking at a V10 M5 or M6 and needs the garage space. I'm the opposite on the color and interior colors. I prefer this interior and color combination. But like you said, personal opinion.

InToyoda

I would start low and work up from there, if he truly needs the garage space he will get rid of it for less than 15 stacks, especially if the car has been on craigslist for a little. hope this helps. I would say at max the car is worth 10-12 private party (again, what your willing to bend as a buyer is up to you, remember timing belt service is not cheap at a lexus dealer)

InToyoda

check if the brake fluid is dark as well. what has been actually replaced on the car is what would concern me

zbimmer

It's only been on CL for 3 days. He doesn't need to sell the car, so he's not budging on price. Where else do you find one of these in new condition? I haven't found one. Never driven in the winter, northern california/nevada car. Or is 37k miles something that there are others out there? If you know of any please point me in a direction.

InToyoda

patience is the key for the 'new condition'

heres one on ebay https://www.ebay.com/itm/2004-Lexus-...gAAOSwM1tamCXC , granted updated body style and no UL package, however it was listed at 28k (yes, 28000 dollars for a 14 year old car) two weeks ago? you can see he's coming down. I would personally wait if I were you.

The fact he did not do the timing belt after 14 years scares me as a buyer, then again if you can get it for cheaper, go for it?

InToyoda

Have you checked this car on KBB private party value at all or any other sites? Is there an accident on the record ( i know you mentioned parking lot fender bender, was it reported? this all affects resale and what the vehicle is worth)

zbimmer

I have checked KBB. He's close at $14k. But in a national ebay search, there are zero cars like this one available. Unless I want a car with in excess of 100k miles. They just don't exist. Anyone else have thoughts? I doubt KBB has actually received sales data on a '02 UL package car with less than 100k miles on the odo. So how would they even know what this car is worth. A real low mileage car has more than 80k miles on it. NADA doesn't even know what the Ultra Luxury package is. So book numbers are not very accurate. I'm thinking more like what can I buy for $15k that is better than this car.

InToyoda

so 14k - timing belt service cost = what my reasonable offer would be? and I do hear you, It's hard to find the low mileage ones. Depends on if your willing to bend as a buyer. from his add it looks like the accident was reported

05ls430518

iTrader: (1)

That car is way over priced $6000-$9000 is reasonable he wants way to much for a old decrepit non collector luxery car. That car will sit there and rot for that price you can use that $15,000+ taxes, reg etc so lets say with plates and all you would spend $16,500 you can go put a huge down payment on a ls460 with barely any miles with a warrenty that is 10+ years newer.

I checked kbb and it say $6000-$9000 so yah overpriced.

InToyoda

No car is better than the ls430

InToyoda

was about to say, 15k is ls460 price range right now

TriC

Within the past few days, an '01 Ultra with just under 40,000 miles was listed on the Akron/Canton (OH) CL for $13,000. The ad doesn't say anything about the ownership or maintenance history, but it is obviously a very nice car. So, to the OP, similar cars are out there, they just don't pop up everyday.

That said, if the '02 owner is firm at 15, he likely will be keeping it a long time. While his asking price is not an unreasonable starting point, he needs to be realistic about the actual selling price, especially with timing belt service needed. Knocking off an immediate $1300 for TB service equals $13,700 which still seems high. 11 to 11.5 seems like ALL the money IMHO.

Along those lines, I considered an '06 Ultra late last year - silver/black with 75,000 miles, chrome 18s and PCS. It needed TB service. Seller wanted $16,000. I told him to get with me if/when something between 11 and 12 would buy it. Owner contacted me a month ago and offered it at $12,800. Having already purchased a different '06, I passed, and it was then traded in (or sold) to a new car dealer.

InToyoda

agreed, your patience will pay off!!!