Why are used LS460s so cheap?
#61
Driver School Candidate
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talked at length today with the folks at Nash and JM lexus regarding their source of stock
the point about most cars being bought at auction as lease returns or rental trade ins is totally accurrate which makes sense
thanks for the advice i hope to be highway cruisin soon
great aspect about this forum is sharing ideas and perspectives from folks nationwide
thanks to all
the point about most cars being bought at auction as lease returns or rental trade ins is totally accurrate which makes sense
thanks for the advice i hope to be highway cruisin soon
great aspect about this forum is sharing ideas and perspectives from folks nationwide
thanks to all
#62
Lexus Test Driver
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I have to admit I was pretty happy to find that they were so attainable used. I got mine for 39k but I got it in 2010 as an 07. The car barely had 30k miles on it and in the end the payment was even lower than my GS 350 payment. The birth of my little girl was the perfect opportunity to step up to the LS. I have been happier with this LS that I have been with any car I have ever owned (although the prelude I had in college was bulletproof)
#66
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I am new to this forum and I would really like to thank all of you for your insights, information and wisdom on this topic! Please keep your comments coming, not everyone knows as much about these vehicles as some of you do.
I started off over on the ES350 forum. My local Lexus dealer loaned me a new ES350 for a day and I was hooked. Then I realized that a 3-year old LS460 is about the same price as a loaded ES350, took an LS460 for a long test drive and we were hooked! THIS is the car I have been looking for - the ES350 pales by comparison.
In my part of the world (Portland Oregon), we have only one Lexus dealer in a 100 mile radius. On their lot right now, the very few 2008 LS460s they have asking prices of $45 - $49K with 40,000+ miles. There aren't too many of these cars for sale locally so I guess they can jack up the prices. Unfortunately the local Lexus dealer doesn't seem to run across clean local used cars very often or else maybe they are snapped up quickly. The cars being offered are all from auctions, all from other parts of the country and all have BAD service records - engine blowups, camshaft seizure, wheel vibration that can't be permanently fixed, numerous attempts at fixing wind noise, etc. In one case, Lexus of Santa Monica dumped a car too bad to certify CPO, but Portland Lexus picked it up and is now certifying it - all documented in the service records.
I really thank those of you who have steered newcomers like me to Lexusdrivers.com to be able to see full service history on-line. Without that, just the Carfax reports alone do not tell anything like the whole story - I would have bought a lemon yesterday had I just stuck with Carfax. This is one major benefit for Lexus that I have not been able to find with BMW or Mercedes, you can't view their service records. Taking that into consideration as well as the longer manufacturer warranty, I find myself hard pressed to look seriously at Mercedes-Benz or BMW as alternatives.
Any other places to look to find good deals on lightly used, well priced LS460s are much appreciated.
I started off over on the ES350 forum. My local Lexus dealer loaned me a new ES350 for a day and I was hooked. Then I realized that a 3-year old LS460 is about the same price as a loaded ES350, took an LS460 for a long test drive and we were hooked! THIS is the car I have been looking for - the ES350 pales by comparison.
In my part of the world (Portland Oregon), we have only one Lexus dealer in a 100 mile radius. On their lot right now, the very few 2008 LS460s they have asking prices of $45 - $49K with 40,000+ miles. There aren't too many of these cars for sale locally so I guess they can jack up the prices. Unfortunately the local Lexus dealer doesn't seem to run across clean local used cars very often or else maybe they are snapped up quickly. The cars being offered are all from auctions, all from other parts of the country and all have BAD service records - engine blowups, camshaft seizure, wheel vibration that can't be permanently fixed, numerous attempts at fixing wind noise, etc. In one case, Lexus of Santa Monica dumped a car too bad to certify CPO, but Portland Lexus picked it up and is now certifying it - all documented in the service records.
I really thank those of you who have steered newcomers like me to Lexusdrivers.com to be able to see full service history on-line. Without that, just the Carfax reports alone do not tell anything like the whole story - I would have bought a lemon yesterday had I just stuck with Carfax. This is one major benefit for Lexus that I have not been able to find with BMW or Mercedes, you can't view their service records. Taking that into consideration as well as the longer manufacturer warranty, I find myself hard pressed to look seriously at Mercedes-Benz or BMW as alternatives.
Any other places to look to find good deals on lightly used, well priced LS460s are much appreciated.
#67
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I have an LS and SC, had an ES and GS and they are not even in the same league as the LS.. your right there.
I would say your the perfect candidate to purchase one down here in No or So California and then take a road trip to bring it back up to Oregon. The prices down here are very good, because there are so many of them bring turned in within 2 years on leases.
With the service records and if you can get a CPO, you are pretty much covered for any of the bigger issues that may arise, but honestly these vehicles if they are properly maintained, are almost bullet proof, so you can drive it back with confidence.
I would say your the perfect candidate to purchase one down here in No or So California and then take a road trip to bring it back up to Oregon. The prices down here are very good, because there are so many of them bring turned in within 2 years on leases.
With the service records and if you can get a CPO, you are pretty much covered for any of the bigger issues that may arise, but honestly these vehicles if they are properly maintained, are almost bullet proof, so you can drive it back with confidence.
#68
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Okay Newps, sounds like I am wrong. Please accept my apology for my incorrect assertion.
Central Texas prices are probably similar to the ones you found in CA. I'm willing to go to Florida and make it a road trip (or ship from Florida) to save a few thousand dollars if that's possible (and it looks like it is from a nation-wide search). Black or white are my most likely color.
Central Texas prices are probably similar to the ones you found in CA. I'm willing to go to Florida and make it a road trip (or ship from Florida) to save a few thousand dollars if that's possible (and it looks like it is from a nation-wide search). Black or white are my most likely color.
#69
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I don't think Florida gets much in the way of winters.
I didn't say anything about CPO. I have to say I'm a little skeptical about the claims that "you get what you pay for" being justification for paying $50,000 for a vehicle with numerous listings in the low $30s. I'm getting an LS460 either way, am I not? Am I getting a lemon? If it has 40,000 miles, I could pay $100 for an inspection, then own one of the most reliable cars made that has passed a detailed inspection and is still under factory warranty.
Funky colors? I can see the pictures in the listings -- they look like standard colors to me. I appreciate the input and advice, but honestly you guys come off as just being mad that your cars have depreciated so much and someone can pick one up for $30k.
I didn't say anything about CPO. I have to say I'm a little skeptical about the claims that "you get what you pay for" being justification for paying $50,000 for a vehicle with numerous listings in the low $30s. I'm getting an LS460 either way, am I not? Am I getting a lemon? If it has 40,000 miles, I could pay $100 for an inspection, then own one of the most reliable cars made that has passed a detailed inspection and is still under factory warranty.
Funky colors? I can see the pictures in the listings -- they look like standard colors to me. I appreciate the input and advice, but honestly you guys come off as just being mad that your cars have depreciated so much and someone can pick one up for $30k.
#70
Lexus Test Driver
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Sorry, everyone is correct when they say, you get what you pay for! I would highly recommend a CPO. If you want to pay $10k less for an LS, that's not a Lexus dealership, you are taking a huge gamble. Learn from my lesson. I purchased an 02' CL500 Mercedes, that was not CPO. A few months down the line I was already $6k in the hole with repairs and labor costs. I had the piece of junk sold within the year. A very costly mistake.
#71
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You can find them even at Lexus dealers. Here's one at Lexus of North Miami 27K miles for $39k.
http://www.autotrader.com/fyc/vdp.js...standard=false
http://www.autotrader.com/fyc/vdp.js...standard=false
#72
Lead Lap
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With all of the $$$ electronics in an LS460, looking out into the (normally, say with an '08 model) 4th, 5th and 6th years of ownership, having the CPO protection can be a worthwhile investment. IMHO.
Best Wishes to all, Mikey
Best Wishes to all, Mikey
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