2000 Ls400 With Salvaged Title

[streetrider]

I found this site while trying to do some research on a possible purchase. I thought I would throw this question out since it seems many of you have a great deal of knowledge regarding this model.

I have the opportunity to purchase a 2000 LS400 with 134,000 miles. This car received a salvaged title at 14,000 miles (I think) because of a wreck. The current owner has driven it 120,000 over the past 4 years and just made the step up to the LS430. It looks in great shape, has the Naka stereo system, and has been well taken care of. My questions are these: 1. What would you say the value (price) on this car would be? What other things should I be looking/checking out on this car because of the salvaged title?

Any other help or experience anyone has regarding this issue would be greatly appreciated.

[sahtt]

I found this site while trying to do some research on a possible purchase. I thought I would throw this question out since it seems many of you have a great deal of knowledge regarding this model.

I have the opportunity to purchase a 2000 LS400 with 134,000 miles. This car received a salvaged title at 14,000 miles (I think) because of a wreck. The current owner has driven it 120,000 over the past 4 years and just made the step up to the LS430. It looks in great shape, has the Naka stereo system, and has been well taken care of. My questions are these: 1. What would you say the value (price) on this car would be? What other things should I be looking/checking out on this car because of the salvaged title?

Any other help or experience anyone has regarding this issue would be greatly appreciated.

Depending on your area and the actual condition of the car [brakes/tires/AC/etc.], the clean title price would be around 17-19 thousand. With the salvage title, I would not waste my time with anything over 15k, and it would have to have religious maint. records to even look at it for 15k. If I was personally selling that car, I'd hope for 15k, and be satisified with 13k.

[OmarG]

According to edmunds tmv,(which i go by) your ls400 without a salvage title is only worth about 15k WITHOUT a salvage title. Most salvaged cars are only worth 60-70% of their value . SOO the car according to TMV private party the car is only worth about 10k. Which IMHO is a steal if its clean and was fixed properly. I bet you could drive that thing for 5 years no problem, with basic maintainence that is.

My basic advice for salvaged cars is, look closely at paint quality. If it was a good job only a very discriminating eye would be able to tell if it was painted. Look at body panel gaps. Look under the hood for any evidence of damage. If the owner had it for 4 years and it drives good then i think you might have a great deal on your hands.

[streetrider]

According to edmunds tmv,(which i go by) your ls400 without a salvage title is only worth about 15k WITHOUT a salvage title. Most salvaged cars are only worth 60-70% of their value . SOO the car according to TMV private party the car is only worth about 10k. Which IMHO is a steal if its clean and was fixed properly. I bet you could drive that thing for 5 years no problem, with basic maintainence that is.

My basic advice for salvaged cars is, look closely at paint quality. If it was a good job only a very discriminating eye would be able to tell if it was painted. Look at body panel gaps. Look under the hood for any evidence of damage. If the owner had it for 4 years and it drives good then i think you might have a great deal on your hands.

Thanks for the responses. I talked with the owner and he just had the timing belt, power steering, and clutch mechanism for the radiator fan replaced. Is there anything else from the 90+ mile check-up I need to check on? I've talked him down to $8,500 and plan to pull the trigger over the weekend.

[OmarG]

WOW $8500 is great! what color is it?

[nc211]

street, have you actually driven the car yet? The thing you need to be cautious of is the suspension settings on these cars. These cars are EXTREMELY smooth. But, that's not becuase of just good parts, it's also becuase of excellent, and very percise design. A design that could possibly of been altered by whatever caused that salvaged title to be issued. I would check the tires for abnormal wear patterns. If they happen to have brand new tires on them now "makes me think a possible cover", ask what kind of tires? If he put the expensive Michelin's on there, then I would feel better. But if he put the cheapo walmarts on there, just to sell it...well...i'd be a little cautious myself. Suspension parts on these cars aren't exactly cheap. Not too bad if you order them online and do the install yourself. But none the less. Any vehicle that was wrecked bad enough to be issued a salvage title, especially when the car was close to new anyway "higher market value = must have been one hell of a wreck to warrant the insurance company to total it out, instead of fix it" makes me nervous. Whatever value you save from buying a salvage LS400, could very easily be wiped out by repairs that most normal LS400's face at that mileage anyway.

Sounds like to me the owner used the car for highway purposes...or was a realtor type and used it to shttle clients around. Or maybe just liked to drive..who knows...but, if you want my opinion...you're going to face repairs one way or the other at that mileage... I'd just like to know that when I make the repair, the car is that much closer to when it was new. Not closer to when it was totalled.

What did carfax come back with? What did the owner say happened? I would drive it, have it inspected at a lexus dealership, have the vin # ran by the dealership to verify all repairs and maintence, and most importantly, if the carfax gives a police record number for the accident, see if you can get a copy of the report. But, that's just my opinion. If you love the car, and really want it, then buy it and we'll tackle the issues as they arise.

And just one more thing, then I'll hop off the pulpit here: Whatever repairs you make, whatever you end up investing into the car, will most like not be returned to you if you turn around and sell it...because you'll be the 3rd owner of a salvaged vehicle. I'm the 2nd owner of a 1995, with 118k miles currently, and I've done a ton of repairs on mine. If I decided to sell it, and showed all the receipts of repairs to a buyer, I look like a maintence freak "which I am anyway" and I have restored the car back to new. For you though, it could look like you've been trying to fix a major problem with the car due to the wreck, and have given up and selling it to someone else. Just my $2 cents, nothing more...

[streetrider]

NC211, you raise some very good points. The owner of the car is actually a relative living in the same city. I have driven the car a couple of times as well as seen the care given to it over the last four years. High quality tires, premium gas, constant attention.

I'm going to run the carfax and look for additional salvage information over the weekend. I will update with the information I find to get your take. I plan on taking an extended test drive as well over the weekend to get a fresh perspective after researching the car. I will pay special attention to the suspension.

And it is a two tone gold color.

[denslexusgx470]

Becareful with the workmanship of the vehicle. I have a friend that for a couple years bought SALVAGED cars from a guy that can fix them up. They were never, or even close to the original vehicle. Suspensions were all messed up, rattle here, noise there. Well just a word of caution. Now if you want a real steal (and if you have the cash) have a guy in town (that fixes salvage cars) find you a salvaged LS400, or even LS430 that was STOLEN. I've heard stories that an LS430 or S600 was stolen, and considered SALVAGE but was recovered and found out that the only thing wrong with it is that the NAVi was missing. No body damage or anything. Those are the good salvage buys.

Just my $0.02 ;)

[blake918]

I'd go for it @ $8500! That's a great price (if you are concerned about resale value, this might not be the best car choice.). I'm more comfotable about the salvage knowing that they've put 100K miles on the car sine it has been repaired. Give it a thorough test drive and inspect (or get it inspected) the mechanicals, and if they are good, go for it!

[sahtt]

8500 is a steal. I'd pay close to 10.

[SKperformance]

Needs to be inspected by a pro.

Pay $100 -250 for a precise idea of issues repaired and not as well of in need of being done. We truly can;t tell you anything to look for as you did not even mention what caused it to be salvaged with an itemized list.

I don't think 8500 is a steal unless it was in that avg-excellent condition.

[vyhanh]

Hi,

Is it a 'distant or close' relative ???

[streetrider]

Hi,

Is it a 'distant or close' relative ???

It actually is my father. I took the car in this last week to get a full check done and they say it is in great shape. There is a bit of engine noise coming into the cabin around the keyed ignition inside. It may be nothing more than a rip in the firewall.

However, I reached a hurdle I don't think I will be able to jump...the wife. We took it for a spin together and she did not like the size and driving position at all. She hates the gold color (imagine) and has said she would not be excited if we purchased it. Let's see, upset the wife and get the car or pass on it and use this situation for leverage on something else nice? I'm going to have to choose the latter.

I ended up posting the car for my father on Craigslist out of Salt Lake for $10,500. I'm sure someone will pull the trigger on it. Thanks again for all the help from the board. I wish there was a happier Lexus ending for me.

Here is a picture of the car just as an added bit.

[RFeldes]

Get the car and trade the wife....lol..just kidding!! :chairshot:

[OmarG]

if it was white, i'd buy it in a heartbeat. my mom needs a new(er) car. A white ls400 would've been perfect.

[streetrider]

if it was white, i'd buy it in a heartbeat. my mom needs a new(er) car. A white ls400 would've been perfect.

Hold on while I get a can of spray paint out...lol

[Ronalder]

take it to a good mech and bodyshop. have the frame checked out.