june

I got an offer from Lexus to buy back my LS460. I decided to take the offer because it is more than I can get for the car if I try to sell it. I am waiting to be contacted by the “Impartial Services Group” (3rd party that Lexus uses to inspect the car), and make a report on the condition of the car.


I just received a updated buy back offer from Lexus. The repurchase price for my 2007, LS 460 is now $71,791.58 minus the mileage. I used, 23,165 miles. They calculated the Price I paid for the car, times the mileage I put on it, divided by 120,000 miles. They added in the Lexus Extra Care Warranty that I bought.

$64,000 x 23,165 miles / 120,000 miles = -$12,354.67 for a net buy back of $59,436.67.

I called the Lexus dealer and asked him to find me a 2009 or 2010 LS460.

Marty

Breitling

what?

give me their number... i'll sell them mine too. haha

Nick2JZ

Great decision Marty................that is a lot of money for a 07' with 23k mi. Good luck on your next LS.

corvettesa

Marty, If you should choose an LS460 AWD, check the car for a torque converter problem that causes a jerking sensation between 35 and 45 MPH. The problem has been a characteristic of the above since 2008.

Lexus does not have a fix and does not seem to want to acknowledge the problem although the dealer service departments are aware.

I also have to believe that used car managers are aware and diminish the value accordingly.

I am trying to work with Lexus Customer Service on such a problem - it's a slow process.

daryll40

I agree that getting 60 grand for an '07 is WAAY better than the market. Heck, I'll sell 'em my 2009 AWD car with 21K for that!

daryll40

BTW, June, can you refresh my memory as to the problem with your car that caused the buyback? Or is there another thread here that already discusses it?

JFNash

What a deal?

If they are buying it back for $60K, for how much will they sell it ?

WBuffettjr

I'm definitely missing something here. A car like that should be going for about $35,000?

rominl

iTrader: (4)

it's a lemon kind of buy back

june

I took my LS460 in for the VSR recall, and several TBIS’s. The results were that there is a slight hesitation in the acceleration.
They took the engine apart but had to take it apart a second time after the VSR was completed because they found a loose valve which they had to replace. They said I was losing combustion in one of the cylinders. That did not fix the hesitation, so they replaced the heads with new ones.
They said this corrected it.

Here is the kicker! My 2007 LS460 has only 23,165 miles on it.

I am very dissapointed in the quality of my car. Lexus is doing a fine job of handling the warranty work, but my problem is that all these items have gone bad on a Top-of-the Line Lexus with so few miles on it.

This car is supposed to be bullet proof. Did I get a lemon? They’ve had the car now for 23 days. Has any one had simmilar problems? Any comments would be appreciated, for example how to handle this with Lexus. I will be picking the car up on Saturday.


TBIS’s
Loose outside passenger mirror being replaced.
Noisey brake actuator. (on back order).
Center padded console armrest, needed more padding. (being replaced).
Replaced two motors in the drivers seat for the Lumbar assembly and Air Conditioning.
All 8 Control arms need new bushings, they where ripped, and the arm was almost rubbing on metal to metal. They replaced both sides front lower and upper control arms.

Thanks, Marty

RocketSlug

I only had my entire car disassembled once:

https://www.clublexus.com/forums/5921882-post401.html

And front brake actuator, among the major things done.

I've always been cautioned about the first year for a new design, but my 98 GS400 was flawless, as was my 01 430, so I thought Lexus was the exception to that.

So it was in a shop for a month and I had to drive an ever-decreasing-in-headroom Rx350 and filmed another Harry Potter movie: The Quest for the Hidden 12 volt outlet.

But now my 07 ls460 runs better than ever. Did 14.45 at the track in the 1/4 mile, on Lumerai 19s, and I'm getting 27 - 30mpg on the highway, and I even think it keeps bad spirits away at night.

Now if only the car would quit going through aftermarket 9005 high beam bulbs like a machine gun, I'd be all set.

daryll40

Marty-June, I'm still confused. Did they buy the car back or are you still waiting for the 23+ day repair? HUH?

caha14

That posting looks familiar, so I think he just did a quick copy-paste of his original posting before the buyback came through.

daryll40

Ah! Well then I'm sorry his Lexus experience wasn't good like mine has been, largely without exception, since 1989. But I'm glad they bot back the car, made him whole and he can move on. Hey, it's just a car!

june

I got an offer from Lexus to buy back my LS460. I decided to take the offer because it is more than I can get for the car if I try to sell it. I am waiting to be contacted by the “Impartial Services Group” (3rd party that Lexus uses to inspect the car), and make a report on the condition of the car. If it pass is the inspection, they cut us a check.

Marty