riknchar

So I had just semi-committed to purchasing a 2010 LS460L from my local Lexus dealer (91k miles, AWD, great shape, good history) for $21,600. I left a deposit via phone (credit card), pending a final walk-around. Here's the link to this car: https://www.lexusofomaha.com/Vehicle...-NE/3146146853

I had earlier sent an inquiry to a private party who was selling a 2011 LS460L AWD in St Louis, but hadn't heard back from him until this morning. His 460L only has 58K miles and is a year newer. He bought the car as a CPO in March of 2016, so the car is just about done with the standard CPO warranty. But he had paid extra to extend the CPO for another 2 years, unlimited mileage, so the car has over 2 more years of full Lexus warranty on it... He just put new tires on the car 20 miles ago, but couldn't remember what brand (sounded like he didn't use good Pirelli's or Michelins). His original asking price was $27,500, but he said he would sell the car to me for $25,750. The car is the Deep Sea Mica color with light interior. Here's a link to this car: https://www.cargurus.com/Cars/invent...ting=197614811

So now I have a bit of a dilemma... Do I back out of the deal with Lexus of Omaha and take the 2011 for a bit more money? I have a bit of a preference for the Smoky Granite Mica color with the dark interior, but the Deep Sea Mica can look pretty nice when clean/detailed... Seems pretty clear-cut that the 2011 is the better deal, with the lower mileage, full warranty for 2 more years, new tires, etc... I'd end up having to hop a direct flight from Omaha to St Louis ($200 on Southwest) and drive the 2011 back to Omaha (7 hours), but that wouldn't bother me much.

One last thought: Didn't the CPO program that included unlimited mileage (the one that this car was bought under) include free scheduled maintenance for the 2 years? If so, I think this car could probably receive the full 60K service for free, which would be sweet! The current owner seemed unaware of this perk, and has been taking the car to his local mechanic for oil changes since he got it...

Any thoughts from the forum? I realize I've been totally flaky on this car search quest... Thanks!

UDel

Personally I would save the $4000 and go with the original car but I am not a fan of blue cars. If it was a 2000 difference then having a car with 40K less miles, new tires, extended warranty, and a year newer would likely be worth it but I still would not want a blue car but I can see where most others would.

JLAWS

Newer and far less mileage. No brainer when you going to spend $37K on an LS600L. What's an extra $4000?
You won't hit 100K miles on it until several years have past. I loved a blue L with 19" 5 spoke wheels

johnnyg66

The first one has AIR so maybe not and the rear seat is the basic set up. Looks like no separate controls like most L's have. What does the other one have in way of options?

TexasTea

Wow, another sharp looking car to consider.

When I was LS460L shopping a couple of weeks ago, my general rule of thumb for LS460L price comparisons was $3,000 per model year and 10 cents per mile ($1,000 for every 10,000 miles).

So you have a 2010 with 91.5K miles priced at $21,663 and a 2011 with 59.5k miles priced lowered to $25,750 (for a $4,087 price difference).

So using my pricing rule of thumb shows the price difference should be $3,000 for the 1 year newer + $3,200 for the 32K less miles = $6,200.

If the extended warranty and 60k maintenance can be transferred to you as the new owner, then that makes it even more valuable by perhaps another $2,000.

You may want to run a Carfax report on the 2011 car before flying to St. Louis just to confirm the car was sold as a Lexus CPO and see if there has been any accident or damage. It is kind of strange that the owner was not aware of getting the 2 years of free maintenance with the L/CPO unless his repair shop is giving him the free maintenance while the shop gets reimbursed by Lexus.

Also you may to ask for some more photos of the front and back seats to see any wear, which can be sent by text message or added to the Cargurus car listing.

Good luck with the buying decision.

TexasTea

It appears that both cars have the air suspension which Lexus calls AVS, Adaptive Variable Suspension and nearly same options.

Wandl

The private seller seems to have replaced with Michelin PILOT HX MXM4 tires which are $250/tire and decently rated on Tirerack. I think you can get the price lower for the private seller (he/she has had it up for 30 days) but the warranty lasts for just 2 more years. I like the color of the 2nd one but if it were me, I'd gun for the first LS460L at your Lexus dealer.

JLAWS

Both look to be fully loaded with air but has the non leather door armrests
Not a deal breaker for me but would want to have it. Rear seat recline reset button is missing so no rear reclining seats controls I guess.

riknchar

Great inputs! Both cars are very similarly equipped, and both have the equipment I care most about (Mark Levinson, AWD, long wheelbase, Air Ride). From a purely book-value viewpoint, I think the 2011 wins easily (and I like your method of comparing values, TexasTea). The 2010 at Lexus of Omaha is an acceptable deal (roughly $1600 under KBB dealer retail), but the 2011 is even better, which makes sense since it's being sold by a Private Party. Trade-in value on the 2010 is around $17K, meaning I'd lose roughly $4600 just driving it off the lot (if I was going to trade it back in soon). Trade-in value on the 2011 is around $22,600, meaning I'd lose roughly $3100 if I traded it right back. However, future depreciation is likely to be a bit less for the 2010, since it's $4100 cheaper to begin with.

The seller of the 2011 seems a bit confused on his warranty/service plan. He said he called Lexus today, and they confirmed that the 60K service would definitely be covered by his plan. From looking at the Lexus service history, it does look like the car was a CPO from Hendrick Lexus in KC 2 years ago. If the car really is a CPO and still happens to be covered by the original CPO, I wonder if I could extend the current 2 year CPO wrap plan to a 5 year plan by paying a small additional amount (through Toby Rivers)? That would be nice!

I'm definitely torn. I do prefer the Smoky Granite Mica quite a bit over the Deep Sea Mica color, and a black interior is just so much easier to keep looking sharp with high miles...

I've attached both Lexus service histories for those interested in diving into the weeds with me ;-) Keep those thoughts/ideas flowing!

wasjr

I vote local as well. In looking at the Carfax, most service has been performed at that dealer. Depending on how long you are planning on keeping the car, maybe you can negotiate new brakes (shows replaced at 64k), tires, replace all fluids, etc.

riknchar

Thanks for your input, WASJR. The local car has definitely been well cared for here at Lexus of Omaha (and it was originally owned by the Used Car Sales Manager, who took really good care of it). I guess maybe I shouldn't be too concerned with the miles (91k vs 58k), since these engines are so bulletproof when maintained. My gut is telling me to go for the local 2010 Smoky Granite Mica LS, because I really do like how the car looks in that color scheme. But my logical head keeps tripping me up due to the better deal, lower miles, and warranty on the blue 2011... Guess that's the definition of a "Dilemma..."

jrmckinley

I'd go with the SGM but I'm very biased since I own the exact same car (same year, color scheme, slightly different options). Personally I don't care for that blue color when I see them on the road but to each their own. I have kept my last 2 LS's over 250k miles so 90k miles vs. 60k miles wouldn't scare me one bit. Both are priced fairly based on mileage, year, and the addition of warranty on the 2011. So in my opinion the "value" is identical- which means it comes down to color and options that you prefer.

You may have an added expense of changing out the tires on the SGM (those tires look strange to me), but it would still be worth it to me because I think the color combo is far superior.

213374U

The fact that your local dealer is intimately familiar with the 2010 is a big plus in my book. And I'd have to go with the black interior over the lighter color; black tends to age much better and especially so in these cars.

sktn77a

iTrader: (2)

The blue car looks like it needs new door panels (dirt on the sticky door pull). You might want to use this car as a negotiating tool with your local dealer to throw in an extended warranty.

JLAWS

(91k vs 58k miles)

I'd be taking the longer way home more in the one with 58k miles. You have a very flexible budget so I say wait.