Looking to buy a '92 LS400, need some tips

[david4780]

Hi, I'm new to Lexus' so I decided to come to the forum for some help. I'm looking for a cheap car to fix up and daily for a little bit before reselling it for profit. I'm looking at a 1992 LS400 with 234k miles. The interior is a little rough, and the exterior is a little rough, but nothing too bad. Clean title, and the owner says it needs the cats replaced, alignment, and a new battery. He says the emissions are done for this year, and in January the car will be 25 years old so I'll no longer need emissions. (I'm pretty sure at least.) So, I was thinking about just cutting the cats off since I won't need them for emissions anymore. The guy was asking $900 but he said his lowest price is $750 because he needs the money to fix his other car. Is it worth it? Should I go for it? What are some things I should look out for? I have a friend with a '96 LS400 and I might get him to come look at it with me. Any help would be greatly appreciated. Thanks! 

[Exhaustgases]

First off so far these are not money making cars, maybe someday they will be, but that is at least 10 years out. Second that one has big miles, and yeah I know they go forever. Not really.  It still takes maintenance to accomplish that. If the body and paint isn't an 8 or 9 out of 10 and the interior the same or better. Its more of a parts car.

The normal bad points are, leaky power steering, bad alternators because of it, leaky trunks, leaky moon roofs, leaky engines valve covers, seals etc. front suspension problems with parts wearing out. If you want a project okay it may well be a big one. If the paint and body is no good its never going to pay back at sale what you put into it.

I say the main things to look at are 1, paint and body, 2 interior, 3 front and rear suspension, 4, maintenance like starter replacement, and when timing belt was done.

It is not worth fixing a total junker up, some little dents here and there okay but no major clear coat pealing off etc. good quality repaint is very very expensive, and would cost more that rebuilding the engine and the transmission and all the suspension work. It sounds like a $200 or 300 wrecking yard car if that.  And its not legal to take any emission stuff off the car, lots of people think it is. Just research it. And doing that sort of thing will ruin it for anyone that likes the car hobby so don't do it.