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Did I Get A Good Deal And What To Look For Going Forward


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I have put down a $500 refundable deposit on a 2007 LS460L for 43,000 sight unseen on eBay. Before you say what's wrong with my head, it has 7800 (not 78,000) original miles on it. 42k is the high KKB value. The person that owned it is well to do and has a stable of cars. In fact she even sat on a towel while she drove and they didn't have kids so the back seats were rarely used. It has ML sound, and every other option minus the Exec package.

My first question is should I pull the trigger? I'm coming off an '02 Q45 that I've put 100k trouble miles on. I just want something new now. I've test driven the newer BMW 750Li and it was fine but I'm concerned about the slightly older one's reliability.

The other question I have is aside from the wind noise (which seems like a fairly easy DIY fix) should I be concerned about anything else, especially '07 being the first iteration of that LS design?

Thanks in advance,

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Hi James and glad you've joined the LOC.

Pick one: Yes. It's a great deal. 2: You paid what?? Which one of these answers makes you feel the best? Glad I could help. LOL

Your question is the same one that all of us ask each time we start that neat process of buying a new car. The Civilians in our lives simply can't understand the thrill of the hunt. I haven't looked at the blue book numbers to check your numbers, but it sounds like it is within the 2013 ballpark. The mileage is amazing. However, does the seller have a complete set of service records, and a CarFax report? This is a deal breaker as far as I'm concernesd.

To be brutely honest James, I would NEVER buy a car sight unseen let alone with out a test driven. Yet, some of our members do it all the time. I know you have done your due-dilagence, but if this process is supposed to work for both of your benifits, I would strongly encourage you to have a contract that gives you the right to cancel the sale and return the LS if it's not as advertised. Who's going to pay for transport of the car?

This is both a good opportunity and a possible money pit. My sueggestion is to pass this one up. There are a lot of LSL's out there, any ones you can drive and kick the tires. Try to throttle back on the adreniline and proceed one car at a time.

Come back and let us know how thing are going.

Paul

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$43,000 is a lot to pay for a seven model year old LS sight unseen even if it is very low mileage and is highly optioned. That's very close to what I would expect to pay for a 2011 LS460L coming off a three year / 36,000 mile lease with all options including air suspension but without the executive package. A 2011 LS460L like that should have had an original list price of between $85,000 and $90,000.

My rule of thumb is that a three model year old Lexus LS should cost no more than 50% of its original retail / window sticker price. OK, I went over 50% a tiny bit when I bought my 2000 LS400 for $30,990 just after it came off someone else's 3-year / 36,000 mile lease. Its original retail / sticker price was $61,770 so I was pretty close to 50%. I maybe could have bought it for less but I bought it the first day it was available and it was equipped with exactly the options I wanted in my preferred exterior and interior colors to boot. I bought it from a broker. The local Lexus dealer was asking nearly $40,000 for similar (slightly lower mileage and less equipment) 2000 LS400's at the time.

But! If you are happy with the deal you have made and it is exactly what you want, who cares?

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I did get a clean car fax from them. Really the only thing that I see on it is that all the inspections were clean and they recently did an oil change. The guy I'm working with seems upfront. Said there's literally not a single scratch on the vehicle and said it's the nicest used car with 7k miles he's ever dealt with. For me, the low miles is the big selling point. I've been searching high and low and yes, I could find something newer with higher mile but I thing it's cool that I'll have a near "new" car for less than half the price. I believe they said it was about 88k new. And I got them to ship it for free as part of the deal.

Having said all that, I'm thankful for the responses and will ask them to guarantee that it is truly in the condition they say it is. Otherwise I just made the biggest financial blunder of my life so far.

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  • 1 month later...

My advice is to get the VIN and call your local Lexus dealer to look up its record. They can see all the maintenance on the vehicle.I did that with the Lexus dealer that I'd been dealing with for 15 years. I'd also ask for a Carfax to make doubly sure it was not in an accident or flood. I bought my LS 2007 460 with 21,500 miles on it and now have 81,000. I bought it sight unseen from a dealer in Okla City and had it shipped by auto transporter to Florida. It was a Lexus certified vehicle which gave an added feeling of confidence. My dealer's service manager said-go for it. I've never had a problem except for the chrome wheels that are notorious for the beading to break down and you have to keep adding air to them. Fortunately I onl have one tire giving me that problem. You may wish to buy a 460 from a dealer. Good luck!

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