Should I buy this LX 470? (1 Viewer)

Location

United States

Interested in the group's thoughts on this special opportunity...

I have always loved the 100 Series. I found what appears to be a unicorn right in my own backyard. It's a 2003 LX 470 with only 37,000 miles on it. The truck is in immaculate condition. It was reportedly owned by the owner of one of the largest Lexus dealers in Texas for about 20 years. He kept it at his Colorado vacation home in a garage and only drove it about 1,500 miles per year over the summer. He also religiously had it fully serviced each May/June at a dealership, presumably at the start of his summer vacation.

I inspected the truck in person yesterday and took it for a drive. Drives great, no rusting or corrosion on the undercarriage, engine looks great, and the interior is in very good condition as well. No aftermarket work, other than an installed infotainment screen with Apple CarPlay (which is nice to have in an older truck).

The seller is asking $43k. That's a lot for a 20 year old truck, but this is such a beauty.

What do you all think? Should I pull the trigger?

 

[bhsdriller]

If you want it

 

[Girl Dad of 3]

If you want it

Ha yeah I want it but is it way too much to pay for a 2003 truck?

 

[excessive]

damn. what a time capsule. The price is steep, but one with that low mileage and service history might be worth it to you.

 

[Bisho]

The truck may be "worth it" from a "what can it do for the money" perspective, but you need to go into with your eyes open - you won't be able to insure it for half of what you have invested in it. If you have any desire to enjoy it by driving it (and I enjoy my trucks, putting over 15k miles a year on them) it will depreciate at a very high rate and add to the risk of losing your money because its under-insured. You need to ask yourself if you can enjoy it knowing the risk. If you are blessed and the money doesn't mean much to you, then go for it. Otherwise you may get much more enjoyment out a truck worth 1/3 as much because the thought of damaging or depreciating it isn't there.

 

[Girl Dad of 3]

The truck may be "worth it" from a "what can it do for the money" perspective, but you need to go into with your eyes open - you won't be able to insure it for half of what you have invested in it. If you have any desire to enjoy it by driving it (and I enjoy my trucks, putting over 15k miles a year on them) it will depreciate at a very high rate and add to the risk of losing your money because its under-insured. You need to ask yourself if you can enjoy it knowing the risk. If you are blessed and the money doesn't mean much to you, then go for it. Otherwise you may get much more enjoyment out a truck worth 1/3 as much because the thought of damaging or depreciating it isn't there.

Great points and things to think about. Thank you very much for this. I wont be daily driving it but I do want to enjoy it. Not sure how that shakes out given the points you’ve raised but I will think about it.

 

[TahoeZ]

I would only go into it if you are looking to be a "collector." There will be things to address just based on age alone. Don't expect it to need zero money/work put into it just because of the low mileage. If you can 100% verify the story, mileage, service records and want a rare collector's item, sure; cool, rare find. If you just want to drive and enjoy a 100 series, the experience can be yours for much less $.

 

[rexington14]

Didn't you just get into a nice 200 series?

 

[Girl Dad of 3]

Didn't you just get into a nice 200 series?

Yes! My 200 series is staying with me. My mother has a little place in Colorado where this LX 470 would live. So it would not see heavy mileage and would be kept in mint condition. I wouldn’t be considering it all, though, if I didn’t think it was a unique opportunity.

 

[rexington14]

Yes! My 200 series is staying with me. My mother has a little place in Colorado where this LX 470 would live.

Value is subjective. Got the cash? Go for it. If you don't, someone else will. Let us know how you like it compared to the 200.

Check out this recent thread on another low mileage 100 and what sort of things to expect.

 

[Rhetoric]

Yes! My 200 series is staying with me. My mother has a little place in Colorado where this LX 470 would live. So it would not see heavy mileage and would be kept in mint condition. I wouldn’t be considering it all, though, if I didn’t think it was a unique opportunity.

So it sounds like this thing would just sit? As it already has been doing. Who would be the primary driver of this vehicle and are they handy with repairs?

To me, that price is astronomical for a 23 year old truck. I scored a completely clean one-owner 07 LX with 221k miles in 2021 for $15k. Nearly all the PMs had been done over the years and came with a 50 page PDF of Toyota/Lexus service history. I did not hesitate one bit to drive it home halfway across the country.

 

[Manhattan]

I think it's worth $40,000+. How many immaculate sub-50,000 mile 100s are left in the U.S.? If it were a 40, 60 or 80 in that condition, it'd be worth twice that. The 100 is becoming "vintage" too.

 

[Exiled]

Is it worth $43K? probably, with that mileage and documentation. If your intention is to keep it garaged, drive it minimal miles and enjoy it occasionally, the value won't go down and might even increase over time (low miles is a powerful harbinger of perceived value).

If you want it to use it, modify it, take it offroad? Then I think you can do better with a cheaper truck. $25K buys a lot of UZJ100 in this soft market. But if you have the money and want to spend it, there's probably less than 20 UZJ100s in the US of that vintage that have low miles and great documentation.

And if you need some justification, walk into a Toyota dealership and try to buy a brand new 4Runner for $43K...they'll probably laugh you out of there!

 

[rexington14]

And if you need some justification, walk into a Toyota dealership and try to buy a brand new 4Runner for $43K...they'll probably laugh you out of there!

To be fair you could get the 2025 4Runner in SR5 trim w/ part time 4wd at an MSRP right around $43k.

 

[Girl Dad of 3]

Yes this

Is it worth $43K? probably, with that mileage and documentation. If your intention is to keep it garaged, drive it minimal miles and enjoy it occasionally, the value won't go down and might even increase over time (low miles is a powerful harbinger of perceived value).

If you want it to use it, modify it, take it offroad? Then I think you can do better with a cheaper truck. $25K buys a lot of UZJ100 in this soft market. But if you have the money and want to spend it, there's probably less than 20 UZJ100s in the US of that vintage that have low miles and great documentation.

And if you need some justification, walk into a Toyota dealership and try to buy a brand new 4Runner for $43K...they'll probably laugh you out of there.

This analysis seems spot on to me. My 200 series is my off-road modded up beast. This one I would keep in mint condition as a collectors piece, enjoying it only during annual winter and summer family vacations. It seems like that might be its highest and best use, and that it should hold its value or even increase in that scenario.

 

[Crush 4]

Buy it
If you don’t want it lmk I may buy it

 

[Radclerk1]

No. You shouldn’t.

 

[FMC80]

$43k. Hard pass. I’d buy a higher mileage variant and save that money for base lining, mods, camping trips, etc.

 

[Girl Dad of 3]

No. You shouldn’t.

Why not?

 

[Radclerk1]

Why not?

Because it’s a 20 year old truck for 43k. It’s the Lexus variant of the landcruiser which doesn’t hold the same value and let’s face be honest, the landcruiser name is what it’s all about, I don’t care if it’s the same truck. Everything at some point will need to be changed. Rubber bits especially. To me 43k is just absurd for one of these. I live in Sarasota which is a very wealthy area of southwest florida and see fat old ladies driving these daily in every color so they’re not that impressive. But hey, if you have the cash to blow and you’ve set enough money aside for your kids college fund, do it. I’d feel guilty spending that much on something this old and expensive that’s just gonna sit. Almost like I was taking money away from my kids on something so insignificant. Id much rather put it in a high yield savings account for my kids. But if you’re loaded forget everything I just said.