Buying a luxury-class automobile frugally (long post)

[RickLee]

I asked others on this forum for advice on what car had the best reputation for dependability. The main answers were Toyota and Honda.

I started to look around on the road for evidence of older cars driving around that appeared to be in great shape despite their age. Seemed to me that there were a lot of old Toyota Camrys and Corollas in fine condition, even more so than Honda Accords and Civics.

And among the Toyotas, the best looking old car was in my opinion was: Lexus ES300 from 1997 - 2001. The ES models were based on the Camry and have been around for two decades now. They seemed to be rust-free, classic looking, and there were so many driving around that obviously the owners did not want to get rid of them despite their age.

Researching Edmunds.com I noticed very high Customer Satisfaction on these older Lexus cars, and the used car prices were very similar to Toyota Camry. Conclusion? For the same price as a used Camry I could get a used Lexus which share many of the same parts as Toyota. And, buying used, I could get one for one-eighth the price of the New Car price.

So I set out to find one, using Craigslist, Kijiji, and Autotrader. After half a dozen used car test drives over a week long period, I finally got one that met my criteria - a 1997 Lexus ES300 with 194000km in excellent condition which drives like new, for a price that I haggled down to be less than one-eighth the price of a brand new one when that model was introduced.

Servicing a Lexus can be expensive, especially at a Lexus dealership, where they charge you a premium but treat you like royalty. My next step was to find a lower-price but Lexus-trained technician for service. There are owner forums useful for this research. I found one and I found an independant shop that specializes in the high end Japanese autos Lexus, Acura and Infinity. The owner of the shop is Lexus-trained, he is knowledgeable and helpful and respectful of my frugal ways.

I put in a new Timing Belt, Water Pump, Belt Tensioner, Cam Seals, 4 new Tires at Costco, Transmission fluid flush, 4 wheel alignment. I also replaced the LCD radio panel myself by ordering the specific part from Pioneer for 1/10th the price of replacing the whole radio at Lexus.

Insurance for this automobile? Less than my van, and decreasing. Good bye rusty van.

So now I have frugally bought a nice car that should last for at least 5 years. When these were new, the price was five times what I paid.

[dealshunt]

thanks for your information.