Buying used from Lexus dealerships
08-02-12, 07:38 AM
#1
Driver School Candidate
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Buying used from Lexus dealerships
I am looking for a used ES350 and have gone the Carmax route but not found the right one yet. I now want to explore the local Lexus dealers used inventories. Much has been written on these forums about new car buying pricing and strategies, but very little about used car prices. Carmax seems to have fair market pricing but dealership pricing on similar vehicles is several thousand higher. Has anyone been there done that in their search for a used Lexus. Can fair market value prices for used cars be negotiated at Lexus dealerships?
Any suggestions or hands on experiences greatly appreciated!
Any suggestions or hands on experiences greatly appreciated!
08-02-12, 07:51 AM
#2
Lexus dealers used vehicles are usually priced quite high but you can haggle down a lot off the asking price.
Remember that most used Lexus vehicles are certified and usually will cost more and in many cases worth it.Also may have a low CPO finance rate on all or some models.
I wouldn't buy a non CPO Lexus.
If you can,buy a new '12.The discounts are ridiculously good as is the financing.
Remember that most used Lexus vehicles are certified and usually will cost more and in many cases worth it.Also may have a low CPO finance rate on all or some models.
I wouldn't buy a non CPO Lexus.
If you can,buy a new '12.The discounts are ridiculously good as is the financing.
08-02-12, 09:23 AM
#3
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Agree with Joeb
Used car prices are ridiculously high and new ones are well discounted.
Definately worth looking into new 2012 and low financing...check out carsdirect.com or edmunds forums to see what others are paying.
You might be surprised to see the overall ownership, for say 5years, cost may not me that significant.
I would also call the insurance agent and see if there is a difference between ins premiums between old and new car
Used car prices are ridiculously high and new ones are well discounted.
Definately worth looking into new 2012 and low financing...check out carsdirect.com or edmunds forums to see what others are paying.
You might be surprised to see the overall ownership, for say 5years, cost may not me that significant.
I would also call the insurance agent and see if there is a difference between ins premiums between old and new car
08-02-12, 07:35 PM
#4
Agree with Joeb and Sanjay, you will have more peace of mind if you buy directly from Lexus. As mentioned their cars are CPO and if there are any issues it's easier to resolve rather than going with any non-Lexus dealer. You can also get a great price and excellent financing from Lexus as my wife did on her ES. Depending on your budget you should be able to get a great deal on a 2011 or 2012, since the 2013 will be out next month and Lexus will be looking to clean out their inventory. Give us some feeback and let us know what you find.
08-03-12, 04:24 AM
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Certainly respect your view but personally I would not buy a CPO Lexus. All marketing to get higher resale prices in my opinion. They take a 1-2 year old car and give it a however many point inspection for a half hour, and raise the price by $2k. Given Lexus' reputation for quality and durability, I would be satisfied with seeing all scheduled maintenance was completed on time and have an inspection from your neighborhood mechanic (if one desires). Should save a grand or two by staying away from CPO. I bought my ES350 when it was three years old from my local Volvo dealer. They did the same inspection as Lexus, did not call it CPO, and saved me a couple thousand over the same model/year at the Lexus dealer.
Lexus dealers used vehicles are usually priced quite high but you can haggle down a lot off the asking price.
Remember that most used Lexus vehicles are certified and usually will cost more and in many cases worth it.Also may have a low CPO finance rate on all or some models.
I wouldn't buy a non CPO Lexus.
If you can,buy a new '12.The discounts are ridiculously good as is the financing.
Remember that most used Lexus vehicles are certified and usually will cost more and in many cases worth it.Also may have a low CPO finance rate on all or some models.
I wouldn't buy a non CPO Lexus.
If you can,buy a new '12.The discounts are ridiculously good as is the financing.
08-03-12, 04:30 AM
#6
Lead Lap
I just bought a 2009 CPO with 35k miles from a Lexus dealer and don't regret it at all. I didn't go for the lowest price that I see others say they can buy a 2009 for, but I made up for it in extras. For instance, the rear bumper had scratches and the hood had paint chips. I pointed them out to the dealer, no problem, they repainted them. I looked on lexusdrivers at the VIN service records and the car did not have record of the 30k mile maintenance. No problem. They did the 30k mile maintenance, replaced the front brake pads, turned the rotors, updated the tires with four new ones and put on a new state inspection and put in an updated Nav disc. I pointed out a small break in an AC vent grill for the rear seat. No problem. They replaced the back of the center storage compartment. I know they spent about $5k prepping the car, but when they drove it out for me to take possession, it was exceptional! The paint detail and interior cleaning was nothing short of a new car. I can't imagine getting this service from a non Lexus dealer. My point is there is more to the deal than the lowest price.
Last edited by Poqman; 08-03-12 at 04:45 AM.
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08-03-12, 07:54 AM
#9
Lexus Fanatic
For that 2k you get an inspection, blah blah who cares about that. What you do get is a 100k warranty and new car finance rates. Those are a big deal, and easily make up the $2k premium for CPO. Just to buy a comparable extended warranty will cost you $1,500+, then the interest difference will make up the rest.
Add into it the additional peace of mind you have by being able to say "This was a CPO car" if you have problems down the road, and I think its well worth the price premium. I've never bought a used car, but if I ever do I'll be happy to pay $2k more for CPO.
08-03-12, 10:22 AM
#10
I purchased a CPO 1994 ES300 back when they were still a fresh model line and not many on the trade-in lots yet. Yes, I paid up for the Special Edition I wanted.....but like Poqman, they did a full brake job, new tires of my choice (Michelins), any nickpic I had was addressed (new taillight to replace a scrape my wife found). I found the papers for the service the other day and the printout was 7 pages long of what they replaced/serviced on the 36,000 mile CPO.
My wife drove that car 14 years and put 200,000 miles on it before we purchased a '10 ES Ultra
My wife drove that car 14 years and put 200,000 miles on it before we purchased a '10 ES Ultra
08-04-12, 03:40 AM
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This isn't an accurate description of what the CPO program gives you as a buyer.
For that 2k you get an inspection, blah blah who cares about that. What you do get is a 100k warranty and new car finance rates. Those are a big deal, and easily make up the $2k premium for CPO. Just to buy a comparable extended warranty will cost you $1,500+, then the interest difference will make up the rest.
Add into it the additional peace of mind you have by being able to say "This was a CPO car" if you have problems down the road, and I think its well worth the price premium. I've never bought a used car, but if I ever do I'll be happy to pay $2k more for CPO.
For that 2k you get an inspection, blah blah who cares about that. What you do get is a 100k warranty and new car finance rates. Those are a big deal, and easily make up the $2k premium for CPO. Just to buy a comparable extended warranty will cost you $1,500+, then the interest difference will make up the rest.
Add into it the additional peace of mind you have by being able to say "This was a CPO car" if you have problems down the road, and I think its well worth the price premium. I've never bought a used car, but if I ever do I'll be happy to pay $2k more for CPO.
08-04-12, 06:33 AM
#12
Lexus Fanatic
I wouldn't buy an extended warranty for a Lexus I owned and maintained from new, but a used one where I really don't know, sure.
08-04-12, 04:28 PM
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I just bought a 2009 CPO with 35k miles from a Lexus dealer and don't regret it at all. I didn't go for the lowest price that I see others say they can buy a 2009 for, but I made up for it in extras. For instance, the rear bumper had scratches and the hood had paint chips. I pointed them out to the dealer, no problem, they repainted them. I looked on lexusdrivers at the VIN service records and the car did not have record of the 30k mile maintenance. No problem. They did the 30k mile maintenance, replaced the front brake pads, turned the rotors, updated the tires with four new ones and put on a new state inspection and put in an updated Nav disc. I pointed out a small break in an AC vent grill for the rear seat. No problem. They replaced the back of the center storage compartment. I know they spent about $5k prepping the car, but when they drove it out for me to take possession, it was exceptional! The paint detail and interior cleaning was nothing short of a new car. I can't imagine getting this service from a non Lexus dealer. My point is there is more to the deal than the lowest price.
08-04-12, 09:02 PM
#14
Lexus Fanatic
That's the kind of thing you need to point out and ask for to be repaired before you take delivery. They won't cover it under the warranty, but they will likely do it before the purchase.