Maximizing Lexus LX450 Sale Price

[702krawler]

I have a buddy who is likely selling his '97 LX450 within the next month or so. Not knowing much about Landcruiser '"culture", is the Lexus as desirable as an expedition rig vs. a plain Landcruiser?

It has 250k miles on it. Is that a deal breaker for most?

It also has a small front and rear main seal leak. Is that something you guys think he should fix upfront (he would have to have a shop take care of it, not cheap), or something he should disclose to the buyer and let them take care of?

Last question: he installed rock rails. Should he leave them on, or do you think he'd get more overall returning it to stock and selling the rock rails separately?

 

[plainjaneFJC]

I would fix the leaks, if someone thinks they are buying a project then they expect to get a good deal.

 

[702krawler]

I sort of think that too, but his thinking is that if he spends (for the sake of argument) $1200 or more to replace the seals, he isn't going to be able to sell the truck for $1200 more than if he didn't replace the seals. So I can see that point as well.

 

[Box Rocket]

If it were mine I wouldn't spend the money to fix the leaks because like you said, you would not recoup that in the sale. However I would most definitely make the buyer aware of the issues. I don't think anyone that is looking at a nearly 20 year old vehicle is going to expect it to be in showroom condition so some "items" to address after purchase are typically expected.
.
People who are "in the know" won't care if it's a Toyota or a Lexus, they know they're the same thing if the buyer is looking to build an adventure rig. If the buyer is the soccer mom type then maybe it matters more, and in that case it is probably worth the effort to return it to stock. He will just need to decide who his target buyer is.

 

[702krawler]

Given its age and mileage, I'm guessing his target market is probably this demographic vs. soccer moms. He is thinking it is worth between $3k and $4k. Do you buy that? I haven't thoroughly checked it over, but no body damage or paint issues, expected interior wear, etc. It spent its llfe in southern California and Vegas, so I expect there aren't any rust issues either.

 

[DetroitDiesel]

3-4 with no rust? Does it have lockers? Where are you located?

 

[702krawler]

It is in Vegas. I think it only has a center diff lock (it is not my truck). And I can't price it, just trying to help my friend figure out how to get the most out of it he can.

 

[DetroitDiesel]

It should be 4-6 not 3-4

 

[MarcFJ60]

I was thinking more in the line of 3-4K. If it was exceptionally clean with records, you might get more. I'm also basing this on prices I see here. West Coast seems to be higher. Even though a maintained LC/LX is still very solid at 250K, the market population of people willing to accept a quarter million miles isn't very big. I probably wouldn't fix it, but would certainly disclose it. Now if it was simply a leaking oil pan, I'd fix that, but not something like a rear main seal where, I assume, you'd have to drop the tranny.

 

[Arktikos]

I would remove rock rails to sell separately, would not fix leak. Interior/exterior condition? Maintenance records, if any, would nudge sale price higher. Asking a price on the high end of reasonable would be my strategy, but to get 5K or more would probably be just lucky. Finding the right sucker, er buyer, at the right time is strictly chance. Color matters to some people.

 

[jhanley]

Well, I just sold my 96 LX, 115k miles, for 12k. No rust, southern rig.

Even with 250k, I'd ask 6.5k, settle for 6k. Given it's in decent shape. For 4k, call me, I'll buy it now.

 

[Big mike]

For anyone who stumbles on this thread . I am a retired car dealer and 90% of the replays are so wrong and well wrong!
If you bought a used car from me these guys would be screaming mad even tho it's used and you need to expect some problems!
I'm going to say it right now there all liars and hypocrites !
First off fix the car then sale it.
I owned and ran two Toyota dealerships Presidents awards every year ...highest honor from Toyota . Very profitable and I never once had to debate whether are not to do the right thing.
You all should be ashamed of your selfs !
Mike

 

[luk4mud]

Huh?

Every poster said they would disclose the leak.

 

[fullybalanced]

Rear main seal will be expensive (I don't know about the front). 4k sounds reasonable for stock with leak because the buyer will be into it more for the fix.