Seeking a Bit of Final Advice on a '99 LX470

[willgabriel]

Many of you have been quite helpful and kind to me as I have been making a decision to buy a LC/LX or an FJC. I decided on a LC/LX, and have been looking at various ones for sale.

For the last three weeks, a Toyota dealer in Indianapolis has been working with (on) me regarding a one-owner '99 LX470 with 59k miles (it belonged to the manager's wife).

I had offered $14.5k from the beginning. They finally moved down to $16.2k and in the last week also sent me pics of a half-dollar sized bubble/rust spot just above the metal above the upper lift gate handle. Both their and my mechanic say $1,000 would make it right (though you could cheaply fix it for $400). Anyway, the salesperson has assured me by email and by phone that the vehicle is perfect except for the one spot (and I grilled him about "one rust bubble can be the tip of the iceberg" and how unusual a Lexus would get one rust spot in that location to the point where he got irritated saying the vehicle was perfect except for that one spot).

Considering the $1,000 "to make it right" repair, he has lowered the price to $15,500 and is waiving the dealer fee. He insists that they cannot go lower, and that the wholeseller has offered them about that much.

What do you guys and girls think?

The rust spot is a concern for me, but the vehicle seems very good otherwise.

 

[ChuckB]

I'm no expert and not having seen any pictures that seems like a fair price given the low mileage.

 

[willgabriel]

I'm no expert and not having seen any pictures that seems like a fair price given the low mileage.

The spot in question:

 

[100 TD]

I don't know about the price, but rust in the gate there , but possibly caused by a leak from the washer or glass seal or top brake lamp seal. Or it could have started from the outside from a leaf slipping down behind the trim holding moisture there. Have a really good look around for any other rust spots, although the vehicle looks new from this pic (besides the rust). What sort of warranty can you get on an older cruiser like this, being a dealer/principal vehicle push them for what you can. Sounds like it has been driven to the mall and back a few times and may have never have been off road. Have a crawl around underneath for a look, if possible get them to throw a 90,000 service in with it, change timing belt, water pump, starter contacts as it is 10 years old. Or just stick to your guns and reoffer $14500 (if others think that is a fair price)
(You may find you can fix the paint reasonably well with a couple of color matched rattle cans and a tin of putty yourself)
The trim looks damaged, has the hatch been damaged previously?

 

[Gebo]

I believe you will find out that "rust around the rear hatch" is an issue that has popped up on others as well. I did a "rust" search and the best I can remember it that there was some belief it was a faulty design???

 

[willgabriel]

I don't know about the price, but rust in the gate there , but possibly caused by a leak from the washer or glass seal or top brake lamp seal. Or it could have started from the outside from a leaf slipping down behind the trim holding moisture there. Have a really good look around for any other rust spots, although the vehicle looks new from this pic (besides the rust). What sort of warranty can you get on an older cruiser like this, being a dealer/principal vehicle push them for what you can. Sounds like it has been driven to the mall and back a few times and may have never have been off road. Have a crawl around underneath for a look, if possible get them to throw a 90,000 service in with it, change timing belt, water pump, starter contacts as it is 10 years old. Or just stick to your guns and reoffer $14500 (if others think that is a fair price)
(You may find you can fix the paint reasonably well with a couple of color matched rattle cans and a tin of putty yourself)
The trim looks damaged, has the hatch been damaged previously?

Good advice. My mechanic, after hearing about the rust, and seeing the picture, asked the same question about damage from a minor wreck (the one-owner Carfax is clean though). I asked, and the salesman and manager insisted the vehicle had never been involved in any accidents whatsoever, and that it was "perfect" other than the rust bubble.

 

[ChuckB]

I wouldn't put full faith and confidence in Carfax. My wife rear-ended someone in our LX and it was reported to insurance and never showed up on Carfax.

 

[Gebo]

Did you check for the VIN stickers on all the panels and such?

 

[Trunk Monkey]

Price still seems high, compared to what's out there. And rust, even a little that can supposedly be repaired, would steer me away. Where else is it hiding?

I'd go a little higher miles and save a few grand. You can get '99's for ~$11k.

 

[willgabriel]

Did you check for the VIN stickers on all the panels and such?

Everything matches according to the dealer. Again, considering this was the manager's wife's car, a one-owner, and that the dealership in question is a huge Indianapolis dealer with Toyota Lexus, and several other lots, I can't see why they would lie to me after three weeks of negotiation. And i will verify all of this before I pay / pick it up anyway.

So, all things considered, do you think this is a good price? Would you buy it?

 

[willgabriel]

Price still seems high, compared to what's out there. And rust, even a little that can supposedly be repaired, would steer me away. Where else is it hiding?

I'd go a little higher miles and save a few grand. You can get '99's for ~$11k.

And this thought is what gives me pause, though I have been assured and reassured over and over that this LX470 is in great shape with no other issues whatsoever other than the rust bubble in question. And, of course, finding another sub 100k miles for $11k, in good shape, one-owner if possible, LX is the challenge especially considering I am carless after Wednesday (just sold my BMW 540i) ...

 

[Trunk Monkey]

though I have been assured and reassured over and over that this LX470 is in great shape with no other issues whatsoever

And the dealership is the one assuring you of this - no conflict of interest there . . . If you've been haggling with them for 3 weeks over this and even better, if they know you sold your BMW, you're on the hook with them. Of course they can't go any lower than that.

It's a nice truck, just not $15k for me.

 

[willgabriel]

And the dealership is the one assuring you of this - no conflict of interest there . . . If you've been haggling with them for 3 weeks over this and even better, if they know you sold your BMW, you're on the hook with them. Of course they can't go any lower than that.

It's a nice truck, just not $15k for me.

Oh, I know where you are coming from. Now, they have no idea about my car situation - they only know I am looking at several LC's and LX's. Here is the ad for their LX:

1999 Lexus LX 470 Luxury SUV, Indianapolis, IN, SUV, Tom Wood Toyota Stock: 6987A


Otherwise, I just did a cars.com search, and could not find anything close to less than 100k miles in the 15-16k price range.

 

[4Peanut]

willgabriel, have you had an opportunity to drive anything yet?

 

[willgabriel]

Another option (higher miles; 2000 LC):

3000 Pre-Owned Vehicles

 

[willgabriel]

willgabriel, have you had an opportunity to drive anything yet?

Yes, I have driven local way-over-priced (and too new for me) LX's and LC's. I also drove a 2006 4Runner which was nice, but I liked the feel of the LX/LC better.

 

[Topmounter]

I'd make sure I was looking at other options, especially for that kind of money, namely a later model LC. All other things being equal, I'd take something with no rust and 100k before I'd touch something with with any rust at all and 59k. Between not having seen / driven this thing in-person and a rust bubble so obvious it's stands out in photographs, I'd be very wary, especially a dealer trying to move a vehicle sight unseen.


edit... and what's up with DW's pricing on those two LC's?... a 2001 with 134k for $20k? Might be worth a 1-way ticket on Southwest to somewhere with more 100's on the market.

 

[willgabriel]

I'd make sure I was looking at other options, especially for that kind of money, namely a later model LC. All other things being equal, I'd take something with no rust and 100k before I'd touch something with with any rust at all and 59k. Between not having seen / driven this thing in-person and a rust bubble so obvious it's stands out in photographs, I'd be very wary, especially a dealer trying to move a vehicle sight unseen.


edit... and what's up with DW's pricing on those two LC's?... a 2001 with 134k for $20k? Might be worth a 1-way ticket on Southwest to somewhere with more 100's on the market.

Very good advice. Yeah, DW's pricing makes me think he is still loopy from one too many left turn impacts! Otherwise, do you find a 2003 LC to be much-preferred to a 2000-2002? I found a 2003 in GA with 71k miles and the Toyota Platinum 100k warranty being sold by an individual for $24k (I emailed and asked if they would consider less - like $19-20k).

 

[steenh]

I just did a quick search on Autotrader... private seller, '99 - '05 and <$20k.

Some really good deals out there.

Here's one... a 2000, 68k miles for $16,900 in Cali.

I would not be so concerned with the miles. Well taken care of, they'll run a long time. Mine has 160k hard fought miles and it's mechanically perfect (cosmetically not so much ) and I plan to run it another 160k. If you get one near 90k miles, factor in a grand for that service, or negotiate based on that bill coming due.

I'd rent a car for a month while searching before I'd spend $15k + tax on that truck sight unseen from a dealer...

But... if you do, you'll end up loving it like we all love ours.

2000 Toyota Land Cruiser in DEL MAR , CA 92014: Sport Utility Details - 265709614 - AutoTrader.com

 

[mcalvarez73]

I hate rust!!!!!!! that's the very first thing i looked for before i bought my 1998LC, take your time! there's still a lot out there!!!!!