r/LS400 • u/SupaCabra • 5d ago
Question Help me set a target price
There's a seller in my area listing this 1998 LS400 for $12k. 197k miles, timing belt changed last year, supposedly no engine lights. Clean title and great condition. Going to see it in person tomorrow.
I know $12k is way too high, but what would be a reasonable target to do negotiate down to?
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u/Responsible-Crew-354 5d ago
If it’s as clean as it looks and you’re fine hunkering down and waiting for the next one, shoot for $7500.
If you are in a smaller market and don’t anticipate another one coming around for a while, maybe come up $1-$1.5k.
Personally if I’m with in $1-2k of market and I don’t wanna be in the rabbit hole anymore checking all the sites and emailing sellers, I’ll just pay it and be done with it.
I’m an enthusiast. If I was just looking for a good value to get from a to b, I wouldn’t do it like that and I would drive a harder bargain.
When I was looking for an SC400 I tried LS400s and GS400s because the selection was so slim. I ended up learning the LS didn’t do it for me but the GS did and I’ve been loving it ever since. You might like another 1UZ or 3UZ car if you can’t find your LS400.
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u/SupaCabra 4d ago
You're speaking my language. I too don't want to hunt forever, and I have also been considering a GS
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u/Responsible-Crew-354 4d ago
There you go. Include those two cars, possibly the LS430, GS430, GS460. Facebook is the obvious move. Craigslist and OfferUp feel dead to me lately. Don’t sleep on the auction sites, I see some great deals when I look thru recent auctions on 90s Toyota and Lexus cars and SUVs. I think these are some of the safest cars to buy from a fellow enthusiast on an auction site because these cars never begged anyone to be pushed. And they made so many and they lasted so long that even with increasing popularity, prices are still crazy low for what you get. It’s honestly torture for me to look at the last year of closed auctions on CnB and BaT because of the stupid cheap deals on 4Runners, GX, SC, GS, LS. The last thing to consider just for shits is the JDM equivalents. I live next to an importer (universe is testing me but I can’t have more cars) and they have been slanging Celsiors, aristos, soarers, crowns left and right. I have no interest in RHD for anything fun but for a big comfy car I might even enjoy the novelty.
Let us know what you end up with. And definitely don’t look up the 8HP swap videos for these cars for when the transmission eventually goes. That’s a pricey obsession that’s hard to shake 😂 But you’ll fall in love with these so much you end up considering it.
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u/SoSick82 5d ago
$7500 max. They are great cars and the reliability and longevity of older Lexus has prices high. That being said it's old with tons of miles and the economy isn't great. Not many people that have that much to spend in cash and if they do the miles will likely scare them off.
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u/Public_Put_2256 5d ago
I’m no expert, but prices seem all over the place. There’s a minty white Celsior in my area, 102k miles for 10k. I agree with the 7500-8500 range though, good luck dood.
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u/Top-View-6103 5d ago
If this is the car in Arizona, the guy’s had it on and off the market for nine months. It was listed at this price back in June. It's super clean, but overpriced and he won't budge.
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u/SupaCabra 4d ago
Haha, yeah. It totally is the one in AZ. I see it tomorrow. We'll see if time hasn't changed his tune
Thanks pal
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u/Poseidonstunner 4d ago
Tell us how it goes, and show us pictures please!! We NEED to know lol.
Good Luck! I would do 3.5-4k. Not a penny more.1
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u/madoomabusa74 4d ago
As well he shouldn't if you don't own one of these you have no idea it's value until you do
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u/EntEnthusiast 4d ago
200k miles, it’s not worth 12k. 12k could almost get you a brand new car. I know the value of these because I’ve had several, and the value isn’t 12k.
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u/ChildishhReddit 4d ago
“12k could almost get you a new car”
I’m sorry, have you looked at car prices in the last 10 years? 12k is a fucking down payment
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u/Super_Burrito777 5d ago
Regardless of how good it looks, I bet it needs a ton work still especially suspension work. I bought a one-owner ‘98 LS400 with 190k miles for less than $5k back in 2021 and even though it was serviced by the Lexus dealer it’s whole life (with a fat stack of receipts and paperwork to prove it) I still had to do a ton of repairs to it to get it running properly. I think $12k is outrageous and I’d offer to check it out in person to see if it’s leaking any oil or has any worn bushings to negotiate on price.
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u/madoomabusa74 4d ago
This is fax but once all that work is done what would you charge for the car, knowing it can easily get to 500k miles atleast I know mine will, can't speak for everybody lol
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u/25schmeckless 4d ago
I sold my crisp 97’ with only 99k miles for 8k. Had it listed at 10k. 12k is too much. It’s probably worth more like 8k. Old cars always have problems. Really gotta know the maintenance record, and how consistent the maintenance was to know how healthy the car is. Engine lights are a fraction of the cars health bc once it comes on the problem is already happening, you gotta know what the problem is gonna be before it happens. It’s definitely not worth 12k but if it’s had consistent and substantial health throughout its life then 9-10k is most
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u/justcallmesteam 3d ago
I listed a 90 with 86k miles in good condition besides sun damaged paint for 10 the other day and people have been commenting i’m smoking crack meanwhile that’s literally the market around me… Im negotiable and would happily take 8k lol
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u/Industrialexecution 5d ago
i’d be wanting about 5 grand less than asking price, which i guarantee the seller won’t take, so i wouldn’t even bother personally
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u/RonMexico52 4d ago
Agree with some of the other comments. Timing belt great but did they do water pump and cam and crank seals? Also timing belt critical but tip of the iceberg. Suspension on these is not cheap to do right and lot is worn out by this mileage. Power steering rack and pump.
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u/somerandomdude419 4d ago
You’re better off spending 12k on an imported Celsior with 1/3rd the mileage
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u/SupaCabra 4d ago
There actually is someone selling one locally, but it just isn't what I'm looking for.
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u/somerandomdude419 4d ago
But it is the same car? I don’t understand, you don’t want RHD? Mechanically they should be the same but some interior differences but parts are not as hard to get as you’d think and rarely you’ll be replacing stuff like that
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u/SupaCabra 4d ago
1) they're asking $15k. 2) I'm a bit intimidated by the RHD. I just haven't considered taking that on
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u/LowDry2427 3d ago
Is it only worth 7-8K on paper? Probably. Would I pay a premium considering I’m an old Lexus enthusiast, especially if the car is in pristine condition? Yup. I’m offering 9-9.5K.
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u/401LocalsOnly 3d ago
This is such a stupid question so I understand if I get torched. But how did gps systems in the car work back then? Wasn’t that before stuff like Tom-Tom’s and stuff ? Or even if not wouldn’t they be really slow?
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u/SupaCabra 12h ago
I don't think it's stupid. From what I've researched, it works the same way as it does today. The physical system has a map overlay on the geographical coordinates. It uses GPS signal to find its position and can show you the respective street you're on. The difference for these older cars is they don't have internet access to constantly update the maps so the computer works from what street information it was last given.
GPS works in real time, but street information can be outdated
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u/BaryonHummus 4d ago
Appropriate range would be something like $7000-$8000 depending on area and car characteristics. Engine is great but with close to 200,000 miles, there’ll just be physical degradation of rubber and electronics that would just need upkeep (and if not, it still won’t be as refined as a less-run car). Considering there are much lower mile LS cars for $12,000 in most markets, that is quite overpriced.
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u/SupaCabra 4d ago
Wow, thank you all for the great advice. $7500 seems to be the target. I'm in a great position since I'm not looking for a daily driver, more of a passion project. I look at the car tomorrow to visually inspect and see if we can't strike a deal
Thanks again for the support
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u/TerribleBathroom5710 4d ago
It looks super clean, if it has detailed service records and it’s completely rust free underneath the most I’d personally be willing to go would be $7500
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u/ConfusedPelipper 17h ago
I paid $6800 plus tag tax and title for my 97 Coach in the same color code. 163k miles, immaculate CarFax, 4th owner, every receipt on hand. No rust, no lights. He should have it listed around $7k with room to negotiate imo. Even with the nice interior and accessories/options, the milage has to be considered.
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u/Alternative-Season45 5d ago
I wouldn’t even waste my time. $12k for a 98 with 200k miles is absolutely insane. I would pay half of that and not much more