Thinking Of Selling My 92 Ls400 - What Is It Worth

[NC_lexus]

207k miles, dealer serviced since new.

Scott

sbetzold@carolina.rr.com

[92Lex]

Go to KBB.com to find out the private party value of your vehicle.

[NC_lexus]

Thanks!

KBB says 4850 but I see these cars commonly advertised for 6000-8000. I am just curious what people are really getting for them.

here is a link:

http://www.carolinahondas.com/forums/showt...&threadid=13059

[92Lex]

I had a 92 LS400 w/ 92k that I bought for $4,850 a few months back....I sold it about a month and a half ago for $7,200 but that's beside the point. Even though your car is probally in top shape it's going to be hard to get anything over KBB value for it because of the mileage...it's not much for a Lexus but it's still high though. Here in California I see LS' like yours go for about 5 grand.

[Lexls]

Expect less than you think you'll get. There are always rare cases out there but I typically see cars sell for less or much less than KBB value :whistles:, just my experience around here in MN.

[92Lex]

Expect less than you think you'll get.  There are always rare cases out there but I typically see cars sell for less or much less than KBB value  :whistles:, just my experience around here in MN.

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I agree....KBB is just the starting point for negotiations. I was just lucky to find my cars for well below KBB value. The buyer will most likely adjust the "asking" price based on the actual condition of the vehicle.

[silvermate]

KBB says 4850 but I see these cars commonly advertised for 6000-8000. I am just curious what people are really getting for them.

yeah i've seen them go for that as well, but not with over 200K. more along the line of lower to mid 100's.

i would shoot for around 5,500 or so....you should be able to get that, if the car is in good condition.......

it still amazes me that a 92 LS can still bring around 8K with so many miles......but they do..........

[jvcn]

Surely $5500 is overly optimistic, unless it's in really good shape and he can find a local to fall in love with the car? 200k miles scares off a lot of people. When I was looking I would have dismissed someone asking over $5K for a gen 1 car with that many miles. Local dealers are asking (and not always getting) $8000 for 1995s with about 150K miles. Make the appropriate adjustments for age, higher mileage, and lower price for private party sales.

If it were me I'd start at $5K and be prepared to negotiate downward.

[silvermate]

Surely $5500 is overly optimistic

yes it is :D and you have to be optimistic when you are selling your car................you can always come down...... ;)

[90LS400Lexus]

KBB on my 90 LS was $3900, but I had ended up letting it go for $3000.

It was 2-owner ( I was 2nd owner), perfect engine and transmission, but minor quirks: (broken A/C, radio on the blink, front suspension clunks), but I think it was the high mileage that scared most people away. Poeple tend to be scared of cars with over 200K- even if it is a Lexus. My car had 235K, but its strange, because I did not even have the mileage listed in the ad and only got about 7 calls on it and only 2 actually showed up to look at it. The 2nd person to look at it bought it, after I came down to $3000 in the local paper. I did not advertise it that much. If I had of placed it in the local trader, I may have been able to get more for it, but I did not.

Like Lexls said- a lot also depends on location. Charlotte is a large city, so you may be able to get a good price for it. I live in a fairly large metro area as well (not as large as Charlotte however) and I had to sell my car for a lousy $3K.

[jvcn]

My observation is that KBB is quite unreliable in predicting market prices for very old, high mileage vehicles. Repairs on these things are expensive. With 1993-1994 models selling for under $8k <100K miles and no obvious defects, it's hard to sell a 200k Gen 1 car just because the risk is higher. Of course some high mile cars are gems, but how does a buyer know that? A poor choice could mean a black hole of repairs.

Also many private sellers don't want to acknowledge that they usually have to offer cars that are cheaper AND in better shape than dealer cars given the uncertainties arising from private party trades. I don't know how many times I called someone who wanted a price that was higher than was being asked by dealers with cars with the same general characteristics. The stubborn ones usually had cars that went unsold for weeks or months while the value continued to drop. I just moved on and contacted someone else.