Does anyone know if Lexus has given .9% or 1.9% on the GX
05-14-13, 08:53 PM
#1
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Does anyone know if Lexus has given .9% or 1.9% on the GX
Does anyone know if Lexus has given .9% or 1.9% on the GX?
Trying to figure out if I should wait till the middle of the year when the 2014's come out to get a good deal on a 2013. Does anyone know if they offer that low of a % or have they ever?
Trying to figure out if I should wait till the middle of the year when the 2014's come out to get a good deal on a 2013. Does anyone know if they offer that low of a % or have they ever?
05-15-13, 06:13 AM
#3
Lead Lap
I got 1.9% when I bought my '12 new in 11/2011. Lexus Financial couldn't give me that rate so they gave me Bank of America at 1.9% which was fine by me since that is who I bank with.
You may want to give PenFed a try. Here is what someone on the LS forum posted a while back:
UPDATE: As I mentioned before, I locked in my 2013 LS460 SWB RWD at $0 down, 0.49% which is available to new car purchasers that use PenFed's "buying service" and accept a 48-month term (60 mo. is 0.99%). In my case, since I used Costco for the buying program (flat $2k over invoice), all I had to do was "register" with PenFed's service and I got the preferred new car purchase rate. Apparently, Costco's and PenFed's buying programs do not conflict (since Costco is for purchase price while PenFed is for financing). Then I set up an online recurring monthly payment to PenFed sourced from my local bank account. Now everything is on autopilot.
You may want to give PenFed a try. Here is what someone on the LS forum posted a while back:
UPDATE: As I mentioned before, I locked in my 2013 LS460 SWB RWD at $0 down, 0.49% which is available to new car purchasers that use PenFed's "buying service" and accept a 48-month term (60 mo. is 0.99%). In my case, since I used Costco for the buying program (flat $2k over invoice), all I had to do was "register" with PenFed's service and I got the preferred new car purchase rate. Apparently, Costco's and PenFed's buying programs do not conflict (since Costco is for purchase price while PenFed is for financing). Then I set up an online recurring monthly payment to PenFed sourced from my local bank account. Now everything is on autopilot.
05-15-13, 06:29 AM
#4
You don't have to wait!
To get a great rate you need to set up financing prior to delivery with Pen.Fed. (INFO@HQ.PENFED.ORG). When you go to take delivery, let the Stealer go through his canned BS about how they can only give you a certain percentage because of this or that. I like to question them about why the rate is so high and after their done with their BS reasons, I tell them: I would love to finance through them if they can BEAT the rate I already have. You will have a check that is good for 90 days, if they can not beat that rate. They will usually try to match that rate. I make them squirm (just like they do to you for a good rate) to beat that rate.
BTW - Don't ever use one of these lending services (like lending tree) that apply to multiple banks. They add 1% to the rate for themselves and the same bank that would have given you the lower rate without using the lending service, will only give you the higher rate, because you had applied to the service.
Koz
To get a great rate you need to set up financing prior to delivery with Pen.Fed. (INFO@HQ.PENFED.ORG). When you go to take delivery, let the Stealer go through his canned BS about how they can only give you a certain percentage because of this or that. I like to question them about why the rate is so high and after their done with their BS reasons, I tell them: I would love to finance through them if they can BEAT the rate I already have. You will have a check that is good for 90 days, if they can not beat that rate. They will usually try to match that rate. I make them squirm (just like they do to you for a good rate) to beat that rate.
BTW - Don't ever use one of these lending services (like lending tree) that apply to multiple banks. They add 1% to the rate for themselves and the same bank that would have given you the lower rate without using the lending service, will only give you the higher rate, because you had applied to the service.
Koz
Last edited by Koz; 05-15-13 at 06:37 AM.
05-15-13, 08:43 AM
#5
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Thread Starter
Good recommendations. Thanks for the info. I looked at the PenFed site and it says 1.74% for new for up to 60 months... yikes...I guess not too bad. I was just hoping that Lexus would have a December to Remember .9% on the GX...Perhaps when the redesign of the 2014 comes out, the 2013's will be a steal.
patgilm and Koz, if you use the PenFed buy program to get the lower rate, do you have to go with the pricing they give you with Lexus?
patgilm and Koz, if you use the PenFed buy program to get the lower rate, do you have to go with the pricing they give you with Lexus?
Last edited by frank69m; 05-15-13 at 08:51 AM.
05-15-13, 09:38 AM
#6
The price of the vehicle has nothing to do with the financing.
There are three ways the Stealer gets (more) money from you;
1) Price of the car.
Determine what vehicle, options and color you want before contacting any Stealers. Determine how much you are willing to pay. Only negotiate with the invoice. Anything up to $1500 over invoice is a good deal (even on a special order). Don’t waste your time going to Stealers to make a deal. Email (online sales) all the Stealers (within the area in which you are willing to travel to) with your offer. Remember you can have the vehicle serviced at any Stealer. In the email state the specifics you are looking for in the vehicle, the price you are willing to pay and that you would be willing to sign a contract immediately (READ CONTRACT VERY CAREFULLY BEFORE SIGNING). You should also state that you are interested in using their financing if the rate is reasonable. This will leave the option for the Stealer to think he can give you a good price on the vehicle and make it up on the financing (or trade-in).
2) Trade-in
This is the tough one! The Stealer knows that if are willing to trade-in, you are willing to take less then the value of the vehicle. The only way you can get a decent trade-in price is if the Stealer thinks he can make it up on the financing. This is why you do want to say anything about having financing already available. You want the Stealer to think you do NOT have any financing arranged. Also, do not talk about financing until you have locked in the price of the vehicle and the trade-in value.
3) Financing
Have a commitment (best rate) all ready when (before) you are taking delivery.
BTW - Best deals are made at the end of the month and/or year.
Good Luck!
Koz
There are three ways the Stealer gets (more) money from you;
1) Price of the car.
Determine what vehicle, options and color you want before contacting any Stealers. Determine how much you are willing to pay. Only negotiate with the invoice. Anything up to $1500 over invoice is a good deal (even on a special order). Don’t waste your time going to Stealers to make a deal. Email (online sales) all the Stealers (within the area in which you are willing to travel to) with your offer. Remember you can have the vehicle serviced at any Stealer. In the email state the specifics you are looking for in the vehicle, the price you are willing to pay and that you would be willing to sign a contract immediately (READ CONTRACT VERY CAREFULLY BEFORE SIGNING). You should also state that you are interested in using their financing if the rate is reasonable. This will leave the option for the Stealer to think he can give you a good price on the vehicle and make it up on the financing (or trade-in).
2) Trade-in
This is the tough one! The Stealer knows that if are willing to trade-in, you are willing to take less then the value of the vehicle. The only way you can get a decent trade-in price is if the Stealer thinks he can make it up on the financing. This is why you do want to say anything about having financing already available. You want the Stealer to think you do NOT have any financing arranged. Also, do not talk about financing until you have locked in the price of the vehicle and the trade-in value.
3) Financing
Have a commitment (best rate) all ready when (before) you are taking delivery.
BTW - Best deals are made at the end of the month and/or year.
Good Luck!
Koz
05-15-13, 11:02 AM
#7
Lead Lap
I haven't used PenFed but may next time I buy a car depending on their rates. I am a member of a credit union and I always get approved through them first and when I go to buy the car I tell the dealer the rate I can get through my credit union (sometimes I give them a lower rate than I can actually get) and the dealer has always found a way to beat my credit union's rate. I mean always, not sometimes. Dealers work with a network of lenders and if Lexus Financial can't beat the rate they go to their secondary lenders.
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05-15-13, 11:05 AM
#8
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Good idea guys!
I'll wait a few more months because once the 2014's come out, the 2013's should be at invoice or a few hundred above is my guess. Then I'll try to slam in there with the low apr story from the credit union to see what they can give me..... Maybe I won't need to wait for the December to Remember :-)
I'll wait a few more months because once the 2014's come out, the 2013's should be at invoice or a few hundred above is my guess. Then I'll try to slam in there with the low apr story from the credit union to see what they can give me..... Maybe I won't need to wait for the December to Remember :-)
05-17-13, 11:03 AM
#10
05-24-13, 05:43 PM
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I was offered 1.9% on a purchase of a new GX today through the dealer, after all negotiation. Actually chose to lease this time due to other reasons. Picking it up tomorrow. It will join the stable alongside my LS460.
07-22-13, 12:52 PM
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People shopping for a $55-65k luxury body-on-frame SUV typically know what they want and aren't afraid to pay for it. Demographically speaking, I think they're probably even better-heeled than a typical luxury sedan buyer. To the few people who want a GX, there are really no compelling alternatives, and to that effect it sells itself.
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