Possible LX 470 purchase...thoughts?
Hey all. Took a look at a local 1998 LX 470 today. Here are some stats:
132,000 miles
All service since 2005 performed at Lexus of Portland and Beaverton Toyota
Timing belt, serpentine belt, water pump, etc. done at 98,000
Towing package
No lockers, full-time 4 wheel drive
It drove well, rode well, and the auto-ride suspension and ride-height all seemed to work well. Crawled around underneath and didn't see any leaks or glaring issues. They had not had it detailed or cleaned up, so it didn't look like it was any different than normal (i.e. nothing hidden by a fresh clean).
The issues I could see:
The tear in the rear seat is roughly 2" x 4".
Leather isn't in bad condition, but definitely needs to be refreshed with a full detail.
The owner also said he backed his trailer into the passenger's rear-quarter panel of the LX. It creased the panel, but they had it repaired for the most part. There is still a dime-sized dent and some dings in the plastic trim that wasn't repaired. The crease is gone and the paint looks good. There was a separation of the panel from the body on the inside in the trunk where the body panel binds with the inner-body structure. It appeared that the panel just popped apart at that seem. I couldn't identify any frame damage, but also wasn't able to get it onto a lift today either.
So...all that said...I was still interested in the rig. They are asking $13,999 which seems high considering all of the above (both the good and the bad). The seat repair would need to be done before my wife would be happy, but as long as the frame isn't damaged and the body panel isn't compromised, I could live with that ding. But not at full price of course.
KBB rates this vehicle at $11,850 in 'Good' condition, and Edmunds rates it at $8,268 in 'Clean' condition. I would think, considering all of the above and if it has a clear maintenance history, a $10,000-$11,000 offer would be fair. What do you all think?