Have I spent TOO MUCH on this LEXUS GS300?

Summary

In this video, the creator shares a detailed breakdown of the costs incurred after purchasing a 2003 Lexus GS300, including necessary repairs and personal modifications. Starting with a purchase price of $7,500, the owner invested heavily in upgrades, including new wheels, tires, BC Racing coilovers, and suspension adjustments, bringing the total spent to $12,615. Despite the high cost, the creator values the car's vintage charm and aims for a reliable, long-lasting daily driver. While acknowledging the car's drawbacks—like poor gas mileage and sluggish acceleration—the creator remains satisfied with their investment in the car's performance and aesthetics.

Takeaways

• 😀 The creator bought a 2003 Lexus GS300 for $7,500 after negotiating from an initial asking price of $8,500.
• 😀 The total cost of the car, including taxes and fees, came to $8,415, which is higher than the Kelley Blue Book value of $5,300 for a similar car.
• 😀 Upon inspection, the car required several repairs and modifications, including new brake rotors ($450), an oil change ($92), and a new battery ($140).
• 😀 The creator purchased 18x8 forged Lexus wheels from a 2009 IS model for $550 and spent $790 on new tires, along with an additional $120 for installation.
• 😀 The suspension was upgraded with BC Racing BR Series coilovers for $1,300 to improve handling, followed by a $450 alignment and bushing replacement.
• 😀 Essential repairs accounted for $680, while modifications based on personal taste totaled approximately $3,500.
• 😀 The creator spent a total of $12,615 on the car within two months of ownership, factoring in both necessary repairs and personal modifications.
• 😀 The car's gas mileage is a major drawback, with the creator unable to surpass 22 MPG on the highway and struggling to break 20 MPG in mixed driving.
• 😀 Despite the car's relatively slow performance and outdated technology, the creator enjoys the Lexus GS300 for its vintage appeal and driving experience.
• 😀 The creator sees the car as a reliable, luxurious, and long-lasting vehicle, with the goal of driving it for many years despite its age.
• 😀 Future plans for the car include replacing the timing belt and water pump, as well as potentially wrapping the roof in gloss black to enhance the car's appearance.

Q & A

How much did the speaker initially pay for the 2003 Lexus GS300?

The speaker initially paid $7,500 for the 2003 Lexus GS300 after negotiating the price down from $8,500.

What was the total amount spent on the car after two months of ownership?

The total amount spent on the car after two months of ownership was $12,615, which includes the purchase price and various upgrades and repairs.

What was the condition of the car when the speaker purchased it?

The car was in very good shape, having been a single-owner vehicle with low miles (4,500 miles per year on average), and the speaker describes it as a 'pristine daily driver.'

What was one of the first issues the speaker encountered with the Lexus GS300?

One of the first issues the speaker encountered was a vibration at highway speeds and during braking, which turned out to be caused by warped rotors that required replacement.

How much did the speaker spend on wheels and tires for the Lexus GS300?

The speaker spent $550 on a set of OEM Lexus wheels and $790 on new tires, totaling $1,340 for the wheels and tires.

What modifications did the speaker make to the car's suspension?

The speaker replaced the original shocks with BC Racing BR Series coilovers for $1,300 to improve the ride and handling, followed by an alignment and bushing replacement costing another $450.

What are the speaker’s plans for the car’s aesthetics in the future?

The speaker plans to wrap the roof in gloss black, as they have not seen any second-generation GS models with this feature, and they believe it will enhance the car's look.

What is the speaker’s opinion on the fuel economy of the Lexus GS300?

The speaker finds the fuel economy disappointing, struggling to achieve over 22 miles per gallon on the highway and under 20 miles per gallon when combining city and highway driving.

Why does the speaker refer to the car as a 'vintage' model despite being a daily driver?

The speaker refers to the car as 'vintage' because it is a 20-year-old model, yet they maintain it as a reliable, well-kept daily driver that offers a more classic driving experience compared to modern cars.

What does the speaker believe makes the 2003 Lexus GS300 a good deal despite its high price?

The speaker believes the GS300 was a good deal because of its excellent condition, low mileage, and the fact that it was a single-owner car, which justifies the higher purchase price compared to similar cars available in other locations.