‘08 570 w 66k opportunity.

[finally]

Greetings from the 40’s Tech Thread! I posted this in the 200’s for sale thread but will repost here for your honest opinions too.
Thank You
I’m in my local Toyota dealer last week checking out a 40 they have on the floor, purely for research purposes-seriously. A friend from church works in sales and I let him know that the wife is ready to get out of the minivan sometime over the next year and to let me know when the right gx460 comes in. He lets me know he just bought an ‘08 570 w 66k on the clock and it’s in transit. They want $37,5. It’s a two owner. It’s arrived, we’ve checked it out. Been through used vehicle inspection, carfax is good. It’s crazy clean and they haven’t detailed it yet.
I do NOT feel that $37,5 is a good deal (fair?- sure) and it’s more than I was planning on spending on a used 460.
The question is: Is the opportunity to grab an ‘08 570 w only 66k miles an opportunity not to be missed. I do have it on hold at least through Wednesday, when guy returns from Fourth of July vaca. Thanks in advance!

 

[LCtoLX]

That’s low mileage! It’s barely broken in. How does your wife like driving it?

My wife likes her GX460 although the ride is rougher than the LX470 she gave up. But she likes the size and power and safety features. She wouldn’t have liked the LX570 due to the size.

I went from a 100 Series LC to an LX570. Even though it’s only maybe a couple of inches wider, it feels like a foot wider due to the different view from the driver’s seat. It’s taking me quite a while to get used to the perceived change in size.

 

[Ratchey]

In my opinion that is at least 10K too high. But in the current market climate, they might get close to that. For reference I paid $28.5 for an 09 with 83K mi 2 years ago.

 

[300blk]

That’s a lot for an 08.

 

[finally]

That’s low mileage! It’s barely broken in. How does your wife like driving it?

My wife likes her GX460 although the ride is rougher than the LX470 she gave up. But she likes the size and power and safety features. She wouldn’t have liked the LX570 due to the size.

I went from a 100 Series LC to an LX570. Even though it’s only maybe a couple of inches wider, it feels like a foot wider due to the different view from the driver’s seat. It’s taking me quite a while to get used to the perceived change in size.

Thanks LCtoLX.
She likes driving it a lot, really nice ride. Drove it out on some county roads and on some mild, but severely rutted, off road. The size fits her and our three boys. We crawled around a gx460 and the third row was not going to be functional for our family for anything more than a cross town trip.

 

[finally]

In my opinion that is at least 10K too high. But in the current market climate, they might get close to that. For reference I paid $28.5 for an 09 with 83K mi 2 years ago.

Thanks Ratchey. I agree exactly. Right at 10k too high, but it does seem to fit the current market and 66k is really low miles, but even factoring the miles it’s too high. Question now becomes how much will the market settle and are we at (or close to) the new normal? We will go drive it and crawl all over it again today, and we may pass. They are not budging off this price and it’ll sell in my area in a heartbeat.

 

[CharlieS]

Really low miles for the age, great condition and insane market, it might not be the worst deal out there. Make them an offer and negotiate to a mutually agreeable price. If you're a cash buyer, guaranteed sale, that is more attractive to them than some rando that may or may not show up to buy it for that much over book value.

It may be different for the LX or your locale, but finding something like that near me would be a once in a decade event.

My experience with good used Land Cruisers is to have cash and move fast, because if you don't, someone else will.

 

[finally]

Really low miles for the age, great condition and insane market, it might not be the worst deal out there. Make them an offer and negotiate to a mutually agreeable price. If you're a cash buyer, guaranteed sale, thats more attractive than some rando that may or may not show up to buy it for that much over book value.

I agree CharlieS and like your strategy. The high end of book for the rig w the miles is 34,5. So we’re not too far off. Even though it’s just a few grand, I’d feel a whole lot better at high end of KBB.
thanks for your input!

 

[CharlieS]

One comment is that (especially) in the current market, book value is basically useless. It is generally not very accurate to begin with for Land Cruisers, but the current supply/demand situation makes it that much more inaccurate. They'll get what the market demands, and right now, that's well over book.

 

[finally]

One comment is that (especially) in the current market, book value is basically useless. It is generally not very accurate to begin with for Land Cruisers, but the current supply/demand situation makes it that much more inaccurate. They'll get what the market demands, and right now, that's well over book.

Dang it. You’re right again. As I mentioned in my OP, the sales is a friend from church. I told him I was not comfortable paying over book and offered him that last Saturday. He pretty much told me exactly what you just said. They’re close to book, and they have to take in the broader market, as well as what they paid of course. This price is even w his 500 buck friends and family discount. They are a Toyota “best price” dealership. Meaning they post their best no haggle price. I’m gunna have to go w some gut feelings today and of course I’ll try the “book offer” at least once more . Thanks again CharlieS.

 

[RET2]

Try the "use their finance option" to drive purchase price down while they think they can make it up in selling the paper then pay it off in 30 days.

 

[Jakeonio]

I’m not sure we can rely on any past sales prices given the current market and continued chip shortage restricting new car deliveries. I think it’s going to take a long time to drop. For reference, I bought my very clean ‘09 with 76k miles in March for $35k and the dealer wouldn’t budge. It was the cleanest for the money and I went for it. No regrets.

 

[LCtoLX]

Thanks LCtoLX.
She likes driving it a lot, really nice ride. Drove it out on some county roads and on some mild, but severely rutted, off road. The size fits her and our three boys. We crawled around a gx460 and the third row was not going to be functional for our family for anything more than a cross town trip.

Go for the LX then. I can’t say that the rare find is worth the extra 10k (or whatever you can negotiate) but an LX of that age with so few miles would be, IMO, a lot nicer and potentially trouble free than another with say 195k miles.

 

[grinchy]

I’m not sure knowing the sales team is an advantage in this case.

 

[bencallaway]

That seems to be about what they are going for these days. Pretty crazy but I doubt we'll see too much of a correction. I paid about that for my '14 last year and its worth at least 10k more now so if that formula works for you this is a great investment!

 

[lx200inAR]

Well, it's passed Wednesday, we are all dying to hear what you decided on. Seems like high 30's for a 2008-2011 model is on the high side even with the low mileage. I'd want to "know" as much as anyone can that it's been recently serviced (60k mile for instance) and that I wasn't about to put 2-3k into baselining as soon as i bought it. I say that only because you would be paying a premium for the low mileage, that wouldn't mean much if you still had to drop all that money into it. I checked CarGurus, who knows how accurate they are for prices, and it seems like you can get a 2013-2015 in similar mileage in the high 30s to low 40s. Probably not local though, which I know is a big part of it.

Edit: In looking a little closer at the 2013-15 models in the high 30's, even though they were lower mileage, almost every one of them had reported accident damage. So certainly not the cleanest versions, even though accident damage wouldn't preclude me from purchasing one as long as there was documentation of it and it was mostly replacing plastic.

 

[tominboise]

As a reference point, in November of 2017, I paid $34k for a 2008 LC with 65k miles. I thought it was priced high but was happy to get it, as there aren't a lot of 200's for sale around here. I now have 102k on it with no issues other then replacing the battery this spring.

 

[finally]

Well, it's passed Wednesday, we are all dying to hear what you decided on. Seems like high 30's for a 2008-2011 model is on the high side even with the low mileage. I'd want to "know" as much as anyone can that it's been recently serviced (60k mile for instance) and that I wasn't about to put 2-3k into baselining as soon as i bought it. I say that only because you would be paying a premium for the low mileage, that wouldn't mean much if you still had to drop all that money into it. I checked CarGurus, who knows how accurate they are for prices, and it seems like you can get a 2013-2015 in similar mileage in the high 30s to low 40s. Probably not local though, which I know is a big part of it.

Edit: In looking a little closer at the 2013-15 models in the high 30's, even though they were lower mileage, almost every one of them had reported accident damage. So certainly not the cleanest versions, even though accident damage wouldn't preclude me from purchasing one as long as there was documentation of it and it was mostly replacing plastic.

Man, you guys are just the best! Thank you for checking in. Everything you said is accurate and I see the same things w comparisons (which has been basically every spare moment), this is one additional reason a 13 yr old, two owner, Lexus serviced, clean, low mile, local rig, is still speaking to me at this higher price point.
Took the wife to drive it yesterday, took it off road, used AHC, Crawl Control, 4Lo, wholly impressive.
I am close to closing the deal today, I have just a few little nits I'm squeezing out of them, if she's in my driveway this eve, I will send a pic and follow up!
Honestly, I cannot thank you all enough for your help and insight!!
More to come

 

[TheGrrrrr]

I don't think you will ever feel good about the deal, but I also don't think you will regret having done it. My friend bought a 2013 LX with 115k for $37k back in March. At the time I felt like that was a similar deal. Things have gotten crazy since then. The local Toyota dealer had two 2021 LCs on the floor a few weeks ago priced at $40k over sticker. Getting a same generation vehicle with essentially break-in mileage for less than the market adjustment on the new one is a perspective that may or may not matter, but its a perspective.

 

[CharlieS]

$40k over sticker. That is ridiculous!