'92 SC400 with 156k miles for $3000, yay or nay?

[kenzotic]

Hello there, I'm new to this site but figured it would be a good place to get some advice. Okay, so I found a 1992 Lexus SC400 with 156k original miles on craigslist for $3500, clean title. I've been doing my research on these cars for awhile and this is the first I've actually found close to where I live. So I went to the guy's house earlier today to check it out and it seems really nice. It seems to have been decently taken care of, has originally red paint that has no clear coat peeling and only a couple tiny dings in the body. Also has moisture in the driver's side headlight but not a big deal at all. Overall I'd give the exterior about an 8/10. Interior is also really nice, only a few small tears in the driver's side seat, broken door handle, and a few of the gauge cluster needles are blacked out, I've heard this is common on these cars. Car also has a new exhaust system on it that is quiet at low rpms, but comes alive at higher rpms, which is perfect in my opinion. So besides what I've already listed, the only other flaws are that it could use new tires soon, the left-hand turn signal bulb needs to be replaced, and the brakes felt a little spongy, probably just from the brakes needing to be bled. Luckily, the dude said he would give it to me for $3k. So, is $3000 for this car a good deal? Any problems I should watch out for with this mileage? Any insight is much appreciated, and feel free to ask questions, I'll answer what I know! I'll upload what pictures I have of it c:

[TrevC]

Hi Kenz...welcome to the Club!

That is a great looking car...probably just needs a damn good service, brake fluid replacement, etc

Go for it !

Regards   Trevor

[kenzotic]

@Trevor Catt Thanks man, currently waiting on approval for the loan, I'll make an update post when I know whether I can get it or not.

[62Daytona]

The front lower control arm bushings will be broken. 

Has the Timing Belt been replaced?  The water pump is driven by the Timing Belt.

At 60,000 miles the service is to include-spark plugs, timing belt and valve clearance check.

Timing belt can last 100,000+ miles, but 152,000 miles and 24 yrs is really pushing it.

I have a 92 with 162,000 miles.  I've had it for 16 yrs.  Several items need attention.

I'm replacing all the rear control arms because the bushings are hard and the bolts are frozen.  The back control arms were $1800.

Check to see if any OEM parts have been installed in the last 24 yrs.

I had to replace part of my TRAC control system, it was $1000.  OEM parts for these cars are very expensive.

Replaced my Fuel Pump Control unit, it was $368.  I did the work myself.  Get complete shop manual(s) if you plan to keep the car or work on it.

 

[kenzotic]

@62Daytona Thanks for the advice! I've had nonstop issues with the car since I bought it, but it still starts up and goes when I need it to and that makes a good car in my book!

[62Daytona]

It is sad to see how fast SC Lexus cars loss their value.  I found a 1992 SC400 with 75,000 miles in TX for $3500!  I can tell from

reading the description that the Main computer's capacitors are leaking causing all sorts of problems.  The car looks brand new.

I could take my car's ECU and plug into this car and it would drive normally.

Found another 92 SC400 with 65k miles for $4800-one owner! 

This month I've spent $1800 for all OEM rear control arms, $200 HP Tokico rear shocks, new rear strut mounts $86, rear sway bar bushings $30, rear Sway Bar Links, $80, Tanabe Coil springs NF210 $216 set, bought a new used Cluster with good needles for $80 (installed new back lighting bulbs $16) .  That's about $2212 worth of parts for my 1992 SC400.  My trade-in value is about $2000.  I've tallied that I've spent about $4600 fixing my car over 16 yrs.  I still need a windshield.  I guess I'm keeping my car another 16 yrs.