Hi Scotty, what's your view on the Lexus LS460 S-EL (top specification UK model)? I have bought a 2008 model privately with 151,000 miles for £4.5K (about $6000). Good service history, regular oil changes and just had the transmission oil changed, no OBDII codes and drives like a dream. Is there anything I should look out for with regards to general maintenance?
Aside from general maintenance (oil change, air filter, spark plugs, ...), timing belt service is a major repair you should keep your eye on that. The ATF should be changed every 60k miles.
Pretty sure the engine (1UR-FSE) has a timing chain and not a belt so won't need replacing.
Also keep an eye out for the 12V battery. On my ls600, when it was running low, all kinds of weird issues occurred, windows going randomly down up, moonroof opening, rear tv going down and up on it's own, etc all sorts of errors would show up on the dashboard. Everything went away with a new battery.
So you don't need to worry about the timing chain if the oil was changed regularly. If I remember correctly, they are interference engine and if you think the timing chain needs some work, you better off doing it sooner than later.
I always worry about everything. Timing chains don't last forever, no matter how many times you change the oil. Tensioners and plastic guides wear out. Sprockets and chains too. If you start to hear a rattling sound for a few seconds, coming from the front of the engine on a cold start up, a timing chain (and a large repair bill) is in your near future.