We recently inherited a 2001 Lincoln LS 8 from my mother-in-law. My wife is currently driving it to work so as not to put miles on our vehicle. She is retiring in June and we will then be selling or trading in the LS. This is the proverbial little-old-ladies car, always garaged and well cared for. It will have approx. 38,000 miles in June. We are located in the SoCal desert, so no rust. Champaign color, tan leather interior. Window regulators have all been replaced, the car drives well and tires are 75%. So, in your opinion, what is the value of this vehicle? TIA
2001 LS 8 value?
- Thread starter wuykats
- Start date
I would say it can be listed at $6000 and get sold for closer to $4000. It's still a 17-year old car and although well cared for with low miles, you have to realize what other cars are out there that can be had for the same money.
Thank you for your quick response.
There is a thread here listing 'low mileage LS' cars for sale. I'd say look it over to get an idea.
grizzlyls
Dedicated LVC Member
This is important - I have a 2001 - Was it manufactured before or after May 2001? If its before, then its a time bomb on the timing chains, and has little value since thats an expensive repair. If its after, then since there is a lot of 2nd gens out there (in CA) you would do well to get the 4k.
For perspective, I purchased mine private owner two years ago this month in Glendale CA for $3500. Same situation, from the son of an 85 year lady too old to drive at 99k miles. Mine was pre May 2001, and I felt I was paying a little much then but wanted back in an LS too much. Two years later after getting to know timing chain replacement intimately I know I paid too much.
For perspective, I purchased mine private owner two years ago this month in Glendale CA for $3500. Same situation, from the son of an 85 year lady too old to drive at 99k miles. Mine was pre May 2001, and I felt I was paying a little much then but wanted back in an LS too much. Two years later after getting to know timing chain replacement intimately I know I paid too much.
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XJLS8
LVC Member
Be aware that there is a very limited market for the LS. They have a terrible reputation and it takes the right buyer to pay anything over trade in value for one. An 01 V8 to the right buyer private party maybe $4,000.00 on a great day but be prepared for offers in the $2,500.00 range. If you end up trying to trade it in expect $1,000 as an offer.
Last year alone a boatload of low mileage second gens came on the market for whatever reason. I was lucky enough to grab three at auction for next to nothing. 05 LS8 with 21k miles and fully loaded for $4,000.00, 05 LS8 with 18k miles and three options shy of fully loaded for $4,100.00, and 06 LS8 with 23k miles base model for $4,500.00. All three of those cars are the much more desirable second generation model and no one but myself bid on them at auction.
I also of a dealer lot spent $10,000.00 for an 06 LS8 with 10k miles on it before buying the other three at auction. I tried to sell that 06 for over 6 months after I got tired of it. I didnt have single buyer for anywhere near the 10k I payed for it. The highest offer I received was for $7,000.00.
I ended up taking all four LS8s to the track and racked up a couple hundred miles each where they never came off the rev limiter and then dumped all four at auction for $10,000.00. Best of luck to you and hope you can fetch a decent price but unless your market is vastly different than my local market I wouldn't expect to get much more than a very low trade in value.
Last year alone a boatload of low mileage second gens came on the market for whatever reason. I was lucky enough to grab three at auction for next to nothing. 05 LS8 with 21k miles and fully loaded for $4,000.00, 05 LS8 with 18k miles and three options shy of fully loaded for $4,100.00, and 06 LS8 with 23k miles base model for $4,500.00. All three of those cars are the much more desirable second generation model and no one but myself bid on them at auction.
I also of a dealer lot spent $10,000.00 for an 06 LS8 with 10k miles on it before buying the other three at auction. I tried to sell that 06 for over 6 months after I got tired of it. I didnt have single buyer for anywhere near the 10k I payed for it. The highest offer I received was for $7,000.00.
I ended up taking all four LS8s to the track and racked up a couple hundred miles each where they never came off the rev limiter and then dumped all four at auction for $10,000.00. Best of luck to you and hope you can fetch a decent price but unless your market is vastly different than my local market I wouldn't expect to get much more than a very low trade in value.
1LoudLS
Dedicated LVC Member
accurate.