sudhs

Hello All,

I was looking fwd to buy a 2008 GX 470 Certified Preowned with 31323 miles on it. I took a test drive and mentioned that the leather had kinda loosened down 'coz of normal wear 'n tear for 2 yrs + there was some carpet damage + small paint smudge and paint scracthes here 'n there (being black they show up much more than any other color) etc.. The dealer's list price was $40995 and after taking a test drive and telling the CPO sales person about that vehicle having a little delay in pickup + the fear of cracked dashboard and notifying him that clunk issue is common in these vehicle (though it wasn't present at the time of test drive), and getting asnweres for a few questions from him, I made an offer of $33,500 to the CPO sales person's boss. He just got up and said.. "what are we even doing here" and left.. He then turned back and said that he answered all my questions etc.. and now I come up with this offer.. LOL.. By the time I said ok $35,300 he already turned and left. At first I was amazed and then giggled.. I was like this is one of the most hilarious car buying experience. LOL.. either the guy just didn't wanna negotiate or else he just didn't want my business at all. Whatever be the condition, I just couldn't stop giggling seeing his face (not on his face though.. that would've been worse).. But one thing was sure, this guy was a little impatient in his behavior. Hey, I didn't get pissed at his such a high offer, so why did he on my fair one ? ;-)))).. Maybe had be shown some patience, we'd have struck an amicable deal today, maybe somewhere around $36K, which I still feel is high price for the above mentioned vehicle that I test drove. Hope he learns from this. I did however learn one thing, no more to this sales guy ever again.

What do you guys think should be a fair price for the above mentioned vehicle. It's a GX 470 2008 Preowned with 31K miles and dealer asking for $40995, with 3 yr 100,000 mi CPO.

sudhs

Anybody with a fair price point for this vehicle. I think he (the sales guy and not the boss) is trying to reach me over the phone. Please hurry up and pass on your advice.

redrocks

Sometimes dealers do get dramatic and it is funny...


Well, it really depends on the market in a given area. Also, was it a leased vehicle or personally owned? If it was traded in, the dealership probably gave good trade-in especially if it were a repeat customer. Was the vehicle purchased by the dealer from an auction? That also has impact on selling price or how low the dealer really could sell the vehicle.

Other factors include how much $$ the dealer put into the vehicle? New brakes, tires, etc. But with 31K miles, the dealer probably didn't put too much $$ into it. The scratches you mention should be fixed. For an 08 CPO GX470, $33,500 is a steal! and that's just my opinion. You know the old saying about supply and demand... what's the market for GX's like in MI?

Good luck with the negotiations.

redrocks

Is this GX at Meade Lexus of Southfield?

sudhs

Thanks redrocks for a prompt reply. Well I just talked to him and told him that my last offer was of $35,300 but his boss still had $33,500 in his mind it seems. I don't think there's any much $$$ input by the dealer on the brakes or any other component. With the leather condition and the minor scratches that I explained earlier, I think my $35,300 offer is mediocre but if he accepts even that would be good i guess. He had some customer to attend to and he said he'll call back.

This seems to be a leased vehicle by carfax report. Seems that the leased was for 2 yrs from in-service date. So returned in May 2010. Then on 5/29 it was serviced and offered for sale. 6/5 online listing and then again 7/14 serviced again. All this shows that this particular vehicle ain't selling and that's why my offer was low. However there aren't many GX 470s available in MI area. There was an LX available but even that one sold out.

I'm still open to a good offer from him. Lets see what happens. People please pour in your suggestions. Thanks again redrocks.

Turbinator

To the OP - what's bluebook value for this car?

Turby

redrocks

The dealer will hold out for a higher price. Given the low inventory of 08 GX470's in your area and being CPO'd. Yeah, I see they've had the vehicle for over two months. The vehicle was leased from the same dealership, so chances are the customer was a repeat buyer.

Is a black vehicle in MI popular?

sudhs

Yes.. the sales guy is a nice person and very understanding but his boss seems to be kinda little unaware of basic mannerisms. At first I couldn't stop my giggle looking at this boss's face. But later while driving I was kinda mad on him 'coz talking about basic mannerisms, if somebocy comes to my house and we don't agree on something, I wouldn't just stand up and walk away leaving the guest in my living room to wander around then leave. I'll politely tell him that we cannot strike a deal and that's it. Here this person just walked away. I mean.. what the heck.. and on top of it he thinks he's doing me a favor by answering my questions about a vehicle that I'm gonna purchase. No boss.. that's his JOB for which he gets paid for. So he better treat the customer properly.

redrocks

Hey sudhs,

The 08 is the best GX (model year and mileage) on their lot. Go for $36500...

sudhs

Approx $56K if it were bought today but remember back in 2008 it would've been approx $53K 'coz a few items have been added extra since then. Going by the resale value of approx 70% by KBB, I would expect the fair pricing to be approx $37K but provided everything's working fine.

sudhs

Thanks redrocks.. Just spoke to the dealer again and he said he'll get back with the final price on it in a short while.

Why do you say that 2008 is the best model year ?

redrocks

It's the newest on their lot 08 vs 07 or 06, is what I meant.

Good Luck!

sudhs

OK.. his last quoted price was $39595 and I quoted $37500 as my last. I'm not going any further on the price. That's my bottom line. Saying good bye to this one.

Thanks all who posted their comments. Sincerely appreciate your time and efforts.

N305AS

He'll come back to you on this, I'd imagine. Granted, market conditions vary from region to region but dealerships are having a hard time getting rid of pre-owned luxury vehicles and an even harder time getting rid of SUVs - so it's a double-whammy on the GX470.

Just hold out - you'll either get them to deal on this one, or find another in similar condition for less money elsewhere. About $38K should be your absolute top-end on a 2008 GX with decent miles and in good condition.

ROSCOGX470

$38k would still be a good price. There was just a post for a guy who spent $50k for an 08 CPO with 30k miles- Now that is high. Anything under $40 would be fair.