Buying a used GX, Need some advice
05-09-06, 02:21 PM
#1
Driver School Candidate
Thread Starter
Join Date: Mar 2006
Location: OK
Posts: 7
Likes: 0
Received 0 Likes
on
0 Posts
Buying a used GX, Need some advice
Hello everyone. This is my first post here, so take it easy on me.
My Lexus dealer called today to inform me of a used GX they will have on the lot this Friday. It is a 2005 black model with only 14,000 miles on it. It has the 3rd row seating, Sport package with KDSS, and the towing package.
Right now, they are asking for about $45,000. I need that price to come down to around $40,000. The KBB trade in value is around $38,000. Yearly depreciation on the GX is close to 5,000 per year. The original buyer paid about $50,000 for this vehicle.
Does anybody here have any advice for me to help acquire a lower price on a used vehicle? I'm relatively new to car buying, so any pointers would be a great help. Right now, I'm just planning on bombarding him with the research I've done while mentioning the climbing gas prices.
Thank you all for taking the time to read this and any input you may have for me.
Joe (TULedHead)
My Lexus dealer called today to inform me of a used GX they will have on the lot this Friday. It is a 2005 black model with only 14,000 miles on it. It has the 3rd row seating, Sport package with KDSS, and the towing package.
Right now, they are asking for about $45,000. I need that price to come down to around $40,000. The KBB trade in value is around $38,000. Yearly depreciation on the GX is close to 5,000 per year. The original buyer paid about $50,000 for this vehicle.
Does anybody here have any advice for me to help acquire a lower price on a used vehicle? I'm relatively new to car buying, so any pointers would be a great help. Right now, I'm just planning on bombarding him with the research I've done while mentioning the climbing gas prices.
Thank you all for taking the time to read this and any input you may have for me.
Joe (TULedHead)
05-09-06, 03:11 PM
#2
You might want to do a edmunds invoice/msrp on a new 2006 with the same options. They also give you some idea what the real price might be in your area.
Do you really need KDSS? That adds to the price and maybe you don't need or want it. Try pricing out on Edmunds with the options you need or want also. Nav and rear entertainment are pricey items that are apparently NOT on this used GX.
New car sales of the GX are down about 25% from last year. With that and the gas issue, you should be able to negotiate strongly. What the original buyer paid is not relevant - what is relevant is what you could get another used or new GX for today. Keep in mind you are near the end of the 2006 model year - there should be some great deals coming up on new 2006 GXs soon if not now.
Do you really need KDSS? That adds to the price and maybe you don't need or want it. Try pricing out on Edmunds with the options you need or want also. Nav and rear entertainment are pricey items that are apparently NOT on this used GX.
New car sales of the GX are down about 25% from last year. With that and the gas issue, you should be able to negotiate strongly. What the original buyer paid is not relevant - what is relevant is what you could get another used or new GX for today. Keep in mind you are near the end of the 2006 model year - there should be some great deals coming up on new 2006 GXs soon if not now.
05-09-06, 03:47 PM
#3
Rookie
Join Date: Nov 2004
Location: Illinois
Posts: 78
Likes: 0
Received 0 Likes
on
0 Posts
Originally Posted by TULedHead
Hello everyone. This is my first post here, so take it easy on me.
My Lexus dealer called today to inform me of a used GX they will have on the lot this Friday. It is a 2005 black model with only 14,000 miles on it. It has the 3rd row seating, Sport package with KDSS, and the towing package.
Right now, they are asking for about $45,000. I need that price to come down to around $40,000. The KBB trade in value is around $38,000. Yearly depreciation on the GX is close to 5,000 per year. The original buyer paid about $50,000 for this vehicle.
Does anybody here have any advice for me to help acquire a lower price on a used vehicle? I'm relatively new to car buying, so any pointers would be a great help. Right now, I'm just planning on bombarding him with the research I've done while mentioning the climbing gas prices.
Thank you all for taking the time to read this and any input you may have for me.
Joe (TULedHead)
My Lexus dealer called today to inform me of a used GX they will have on the lot this Friday. It is a 2005 black model with only 14,000 miles on it. It has the 3rd row seating, Sport package with KDSS, and the towing package.
Right now, they are asking for about $45,000. I need that price to come down to around $40,000. The KBB trade in value is around $38,000. Yearly depreciation on the GX is close to 5,000 per year. The original buyer paid about $50,000 for this vehicle.
Does anybody here have any advice for me to help acquire a lower price on a used vehicle? I'm relatively new to car buying, so any pointers would be a great help. Right now, I'm just planning on bombarding him with the research I've done while mentioning the climbing gas prices.
Thank you all for taking the time to read this and any input you may have for me.
Joe (TULedHead)
BTW, in my opinion the KDSS is worth it.
Good luck!
Thread
Thread Starter
Forum
Replies
Last Post