Ok, guys...help me decide. Here's the deal; I currently drive a '97 Audi A8Q, my wife a '95 LS400. I bought these cars during the first couple years out of law school (about 3 years ago). I now have my own practice, my income has tripled, and think it's about time to enjoy the fruits of my labor. I have become a Lexus fan, as my wife's LS w/ 150k miles runs like new and my A8 w/ 120k miles always has something wrong with it (don't get me wrong, I LOVE the A8, I just can't deal w/ all the problems). Having my own business I am looking to capitalize on the (now reduced to $25k) infamous SUV exemption. I found a '02 LX470 for $41,500. It is very nice w/ Mark Levinson sound system and 39k miles. Based on my research, this appears to be a good price. Should I take the plunge? I have $5-10k down, but will finance $30k and have a $550/mo car payment (which I can afford but is more than I'm used to). Are the '02's good models? What's the pro's/con's vs/ earlier or later models? What options were there in '02? HELP ME DECIDE!

Colby

P.S. I'd be keeping the LS for now, letting the A8 go, and keep an eye out for a newer LS430 in down the road.

 

Do it you will not be sorry. All years of that body style are good so you can't go wrong. There's a really nice spot on the official Lexus web site called the model library which tells you all the differences that took place with each year, I think you'll find that very usefull. If you do a search theres a link to it, I simply forget how to get to it its been a while.

The one your looking at sounds like a farely good deal I would surely get it. I'll tell ya these trucks are built like tanks, it would be the first and last SUV you'd own unless you choose to change.

The only gripe I have with the LX is power (I live in the hills so it really bug the crap out of me)
Third row. This is something I don't use much at all (no kids) but the one time I did my passangers complained. I also choose to remove the third roow seats altogether because when folded to the sides it create major blind spots for me. Those are the only two things that are cons for me, did I say that I really have issues with the power. So have you test drove one yet?

 

Yes the dealer let me have it for the night last night (took the wife out for her B-day). I live in Indy, so low elevation and no hills makes power not as important, but I did notice it was a slug compared to the LS and A8. It drives and feels just like the LS, but an SUV...which is exactly what we're looking for. It's just hard to swallow a $40k purchase, and I'm not excited about financing $30k. I guess my last reservation is that maybe I should wait until I have more cash in the business account and pay cash for most, if not all, of it. But I can get a loan at 3.39% which is almost like free money; I'd be better off investing that money than paying cash for it!

 

Not to mention you can always pay the auto loan off at any given time (note any payment penalties) or even double up on the payments. 3.3 is quite low, excuse me, awesomely low.

 

Are you purchasing this from a Lexus dealership? If so, is it a CPO vehicle?

I purchased a certified pre-owned Lexus (LX 450) and was glad I did. With a CPO, they extended my warranty to cover every problem, bumper to bumper, except for chromed parts and the clock (go figure). Obvious things like brake pads, rotors, and tires were not included, but everything else was. You won't likely have any issues with the 470, but it's very reassuring to know that if something does break, you're covered for another 3 years and up to 100k miles (on the odometer).

I had some very minor things repaired during the warranty period, but the work came out to over $3000 in parts and labor -- all covered.

The 470 is a very nice vehicle and I highly recommend you get one -- but you might consider finding one that is a Lexus CPO (if the one you're considering is not one).

 

Take the plunge!!
Incredible SUV......Get the Levinson/Navigation.I could buy just about anything and would only consider another 470! As scary as it may seem,you might even spend a little more and get an '03...you get 18"wheels new dash & bumpers and the 5 speed automatic.I flirted with getting a GX470 ( '05 w 270 HP) re4cently but after I drove home in my '01 LX I realized how spoiled I am....Now I am looking for an '03/'04 myself !!

 

Am I the only one who thinks that 41.5K sound a little high for an 02 model? I would have expected high 30s.

 

No, high 30's are more for 00's

To give you an idea what they go for here in Cali...

2001 57k miles $41k CPO

2002 47k miles $44k CPO

So I say he's getting a wonderful deal (02 for $41K with 39k miles) even more so if thats with CPO.

 

that seems high. i recently found a 2003 for 36000 with 33000 miles it was sold in 3 hours. If i was you id wait and find a 2003 it has a updated interior as well as a engine and a new 5 speed transmission.

 

-ADMINISTRATION.

 

What is with all the replies with these weird website addys. Do you write or just type these addys????

As for the LX take the plunge, very safe and awesome vehicle.

 

TO buy any lexus is a great choice. Lexus is the most impressive for me because it has the highest veriety in cars and keeps its constant high standerds in all their cars. Buy a Lexus and if you already have one, pick another and play with it. If I had money like some of you guys talk about I would go car crazy with lexus. Buy Lexus over any car under 80 grand, any more and you better look at ferrari or lamborghini.

 

well, to begin with, yes 40K is high for a 2002 model.
do a search on ebay and you will find a less than 50k mile 02 model for around 37 to 38k.
as for the certified pre owned thing, well you can get the platinum extended warranty from lexus directly covering the same as a CPO vehicle items, and it can be purchased for around 2650 list price (lower if you search) as long as the lexus is still under factory warranty.
here's a link to the lexus website.
http://www.lexus.com/models/warranty.../platinum.html