Mr. Scotty,
There's a 2007 Lexus GS 350 near me for 15k (which I feel is absurd and I'm going to try to negotiate down) with 33k miles and from the pictures looks to be in pristine condition. Seller states it has passed Lexus multipoint inspection and is a clean title. KBB says $9,172-$10,846 in excellent condition and that's the range I'd try to offer. Could this be a good reliable daily driver to purchase? And should/when things fail will it be extremely expensive to repair as well as the routine maintenance? Or is it just too old and to just stay away?
There's a 2007 Lexus GS 350 near me for 15k (which I feel is absurd and I'm going to try to negotiate down) with 33k miles and from the pictures looks to be in pristine condition.
The 33k miles is very suspicious for a car that's 17 years old. (averaging less than 2k miles a year?) Have a mechanic give it a thorough inspection. Let's say the mileage is legit, even if you 'only pay' $10K.. That's top dollar. You're paying A LOT for a 17 y/o car. That car model was/is a reliable car so I can see the general appeal. Any parts bought from a Lexus dealership are going to be more expensive. The OEM parts are available from many sources. Maintenance costs should be about the same as they would be for any ICE car. Trust nothing the seller says.
Great advice! Thanks!
I would definitely not pay over 10k for that. yes, it is very clean and ultra low miles but it still is an 18 year old car. expect rubber parts to wear out sooner than later, so if they wont budge then walk away. id try to offer them like 9k and then settle for 10k. I would not trust the multi-point inspection, get an independent mechanic to check it out
Thanks so much for the input. I wasn't even thinking about rubbers🤯.
Well, if you can verify that the mileage/odometer is correct (which a higher quality OBDII scanner cane detect by reading the mileage recorded by the engine computer) and you can verify that the car has been properly maintained (especially engine oil and filter changes every one year or 5K miles) and a qualified mechanic of your choosing gives it the thumbs up following a thorough pre-purchase inspection, it could possibly be a great purchase even at the asking price. From what I have seen online for this vehicle it is in the ballpark of other GS price points of similar year and mileage.
The Lexus GS 350 is a lot of automobile. The overall build quality, the quality of the interior materials, the composed, comfortable and quiet ride combined with the power and silky smooth running V-6 with the reliable 6 speed transmission is hard to beat. Plus it is rear wheel drive so the orientation of the engine in the engine bay is DIY friendly and/or mechanic friendly. I would not go by what KBB says but rather check and compare prices in your area of the country and see what you find. What other car can you find with that quality and miles for 15 grand? Perhaps a 2014 Camry 4 cyl with 92,000 miles that I just saw?
Sure, negotiate and see if they will come down (most seller inflate their asking price knowing that the buyer will offer less) but be realistic considering the current post covid car market which apparently has become the new normal.
BTW, just ran across this video by our man, Scotty:
https://www.youtube.com/watch?v=RI6r22ctge8
@cheezyboy Additionally, the MSRP on a brand new base model GS 350 in 2007 was $44,000 which converts to approximately $65,000 in todays economy. Food for thought.