2006 LX470 - 137k miles - What price to pay? (1 Viewer)

[thex2]

Pictures: 2006 LX470

Vehicle was in Houston Texas for 6 years, 60k miles and then came to Florida. The gentleman that owns it has it serviced with his personal mechanic, so no records on carfax.com with any information. The owner offered to let me speak with his mechanic - not sure how much good this will do because he said the guy was a good friend of his. The vehicle has new Michelin tires on it and my experience is that anybody that pays for premium tires often takes car of their vehicle with services. The reason the owner is selling is because he got a new job that is 1+ hours away and doesn't want to continue paying to drive this vehicle that far every day.

Known issues:

1. I test drove the vehicle and it pulled to the right under acceleration and breaking. Felt like low air pressure. The owner's English isn't great and he denies it pulls.
2. Both CV shafts are leaking at the front of the vehicle - this can be seen in the pictures above
   
3. Misc minor dings/scratches on exterior
4. Minimal rust underneath vehicle
5. Minor wear on front center arm rests
6. Minor wear on driver and passenger seats

AS-IS - what do you guys think the value of the vehicle is?

Thanks in advance for all help and responses.

 

[Luke111]

The CV boots are not the bad but if you look a picture 12 just below the CV boot the PS rack appears to be leaking it looks wet. What's the asking price? Will he let you have a pre-sale inspection done

 

[Couvi]

I'd get it inspected to be safe. Looks like a nice truck. The CVs are leaking some, not the steering rack. Do you know if the timing belt service was done (90k service cost around 1K)? Not sure about price, sorry.

 

[jpd motorsports]

Manheim auction average for that vin is $12,275.00 in average condition with 158369 miles march 24 sale ending date.

april auction average condition estimation is 12,100.00 auction with high condition retail of 17,500.00

a below average condition auction estimation is showing 9325.00 with retail for it at 14,5550.00

hope that helps

 

[thex2]

Lowest I can get him to go is $17k. He doesn't have time to allow me to have Lexus pre inspect... It would have to be a mobile inspector that goes to his work. He works at a hotel as a manager 7 days a week.

Unknown when the timing belt was done or if it was done. He claims all maintenance has been performed.

I haven't had any luck finding anything in this condition below $20k asking price. Ideally, I'd like a white 06 or 07. I'm not sensitive with pricing either, this one is just the nicest I've found.

Sorry for bad grammar, typing from my phone.

 

[vman07]

Have you plugged the VIN into the Lexus service website? Lexus Service History | Lexus Drivers

FWIW , I just bought an 07' LX with 150k and I paid more than 17k, but it had service records and some nice mods already done...

 

[Mark WV]

if there is no sticker or other documentation for the timing belt then assume it has to be done by you to be safe.

Positives - Southern car with reasonable miles and good tires

negatives - no known maintenance history and the known issues you pointed out in your post.

I have purchased multiple cars / trucks over the internet, and my experience has been that the dealer service history is the most important factor in getting a good car. Especially with a Lexus, you want a vehicle who's prior owner didn't mind paying for OEM parts and service.

this is in my estimation a $14k vehicle at best - keep looking

just my two cents...

 

[vman07]

Just another data point, if you do a carguru search of 06-07 LX's , you can get a good idea of what they're going for nationwide. And in my experience of being in the market for an 06-07 100 series for the past six months, 14k is not realistic ...

Used Lexus LX 470 For Sale - CarGurus

 

[Mark WV]

Agreed - I had it in my mind the mileage was higher than 137k. I'll raise my estimate by $1,000.

My intention was to stress the value of the dealer service history - I personally would not pay more than $14-$15k for this particular vehicle.
With a good dealer history however this would easily be a $18k-$19 vehicle - there is an 06 lx now on CarGurus - 1 owner with 137k for $18,000 (history unknown)

There are plenty of these available - wait for the right cream-puff to come along...

 

[jLB]

Regardless of what I think it is worth, it will sell for the minimum the seller will take, the question is are you willing to pay that amount, or is someone else...

 

[thex2]

Great responses. I appreciate them all. Thank you guys for the feedback. I previously messaged the seller offering $15k and he said $17k was the lowest he would go. I countered and told him that I'd pay $17k with the contingency that I paid for an inspection to be performed by Lexus and that he had to pay for any repairs that they recommended the vehicle required. He turned that down and said he didn't have the time to take it to Lexus and deal with it. So at this point, I'll just let him know that my offer stands and I won't be budging away from $15k or $17k with the repairs recommended by Lexus. Thanks again guys.

 

[tacoduck]

I paid 15.5k for an 07 lexus with 260k miles on it. I think that 17k as is for that truck is a solid deal for a southern truck with no rust.

 

[AndersN]

Yeah I paid way more than that for my 06 but it only had 89k. I'd jump on that deal

 

[kcobourn]

That's a really solid deal & assuming PPI checks out that truck is a no brainer if that's what you're looking for. Then again I'm not one to worry about a few thousand here/there.

 

[KillerBox]

If it helps any, I have just purchased in the past month a 2001 LX 470 with 107,000 miles for $11,600.00 plus taxes. Never been wrecked nor shows any sign of body damage.

The seller told me that the timing belt had been done but, I could find no record of it. I got my local Toyota dealer to do the timing belt and water pump and it cost a little over $1,000.00.

Both of my front axle shafts had been replaced in the past 10,000 miles. You can tell were it was driven in on some salt roads by some nuts and bolts but, no body rust issues.

During my test drive, I noticed a slight vibration when braking. So I had to replace all the brake rotors.


Since I purchased it, I also had to replace the front hood shocks, wiper blades, reconnect the running board lights and replace 1 running board light. The inside rear view mirror fell off too from sitting in the sun, I assume it is its first time baking in direct sunlight in a long time.

In the past week, I have found 2 more minor problems, the steering column makes a noise while telescoping out and the power mirrors go down in reverse but, not fully back up. I have already bought a new telescope electric motor and an used power mirror ECU to see if that is its problem.

All hoses, belts and other electronics look great. Other than those problems, it looks brand new inside and out and drives just like new.

 

[KYLandy]

I paid $19,500 for a 2006 LC100 last October with 113k miles. There is some undercarriage and frame rust but no body rust as it was a NY vehicle. Had to do minor repairs but the PO hit all of the service intervals at the dealership and the TB was changed at 99k. It was a one owner vehicle and although I discovered the cats are bad in it, I have not spent more than $700 on the little repairs like 12V accessory plugs, rear latch handle, a right DS height sensor (AHC), replaced intermediate pipe on exhaust and reconnected the power mirrors. It had a new alternator put in by the dealer I bought it from and all fluids and lubrication changes have been completed on schedule prior to my purchase. It has new brakes and a new accumulator hose for the rear AC and various other maintenance items that the PO did. Everything works and the interior is nearly perfect with one or two small dings on the body. Paint is perfect it looks great. I feel like I paid a fair price considering it was dealer maintained and had low miles.

 

[Nolan Sylvester]

I paid 16k for mine a year ago. It came from up north and has slight rust underneath. First owner was a doctor in NY, and maintained at dealership. Second owner was realtor out of Atlanta, not as strong of a record, but traded in for Range Rover. Felt because they were buying a Range Rover they were not afraid of maintenance, lol. had 134k I think 17k is a fair price. At the end of the day if you like it and feel good then go for it.

 

[thex2]

Great responses. Thank you guys. Seems like these vehicles trade at a wide range of prices. I've made another counter-offer to the seller so we'll see what happens. I offered him $17k, but he has to warranty the vehicle for 7 days on any mechanical issues that a Lexus dealership finds after I purchase it. No response yet, but this guy usually takes a day to get back to me.

 

[fsung]

Looking from seller's stand point, I wouldn't take the $17 and warranty it for 7 days.
I would bring cash in person, I think you can walk away for $16.5k or $16k if you are persistent. Cash talks.

 

[jLB]

Looking from seller's stand point, I wouldn't take the $17 and warranty it for 7 days.
I would bring cash in person, I think you can walk away for $16.5k or $16k if you are persistent. Cash talks.

I've never quite understood this concept. Every time that I have sold a car to another individual, it has been for cash (in USD) or a wire transfer. I don't finance, accept personal checks (even if you are the widow of some African prince), credit card or any other form of payment. As the seller, am I supposed to swoon over the sight of all of that money and forget my asking price?