How to negotiate? Whats a fair price?
03-07-11, 03:51 PM
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How to negotiate? Whats a fair price?
I am looking at trading in my 2007 Lexus ES350 with 43k miles CPO for a 2G IS250. I value my car at 20k and that's what I want to get for the trade in.
I am looking at 2 2007 Lexus IS250's. Both are listed pretty high (I think). What would be the best way to negotiate on them?
Car #1(At a big toyota dealer)- 2007 Lexus IS250, Loaded, 20k miles, Starfire Pearl, Beige. Was a CPO before. Listed at $24.9k. I find this price high because 1 year ago I was finding similar cars at Lexus dealers for $21k. How much should I offer for this?
Car #2 (At a Lexus dealer but NOT certified)-2007 Lexus IS250, 18k miles, Obisdan, Black, Listed at $23.9k. I find this price high since its not even a CPO and I want to offer $21k. Is this fair?
Whats the best way to negotiate? In the past the used cars I have bought were great deals and I did not need to haggle much. I want to pay only 2k max on top of my trade in (Already losing money as it is).
I am looking at 2 2007 Lexus IS250's. Both are listed pretty high (I think). What would be the best way to negotiate on them?
Car #1(At a big toyota dealer)- 2007 Lexus IS250, Loaded, 20k miles, Starfire Pearl, Beige. Was a CPO before. Listed at $24.9k. I find this price high because 1 year ago I was finding similar cars at Lexus dealers for $21k. How much should I offer for this?
Car #2 (At a Lexus dealer but NOT certified)-2007 Lexus IS250, 18k miles, Obisdan, Black, Listed at $23.9k. I find this price high since its not even a CPO and I want to offer $21k. Is this fair?
Whats the best way to negotiate? In the past the used cars I have bought were great deals and I did not need to haggle much. I want to pay only 2k max on top of my trade in (Already losing money as it is).
03-07-11, 04:07 PM
#2
http://www.kbb.com/used-cars/lexus/e...&mileage=43000
^ $20K for your ES350 seems like a fair deal according to kbb (dunno what options you have tho, so your car might be worth more/less. You may be able to get a grand above that though. As you know, all a Lexus dealer is going to do is take your car, CPO it and sell it for $26k+ on the lot. I'm sure you can get at least $20,000 for the trade in.
Best way to negotiate that works for me is:
1) Find the IS you want
2) Negotiate the price on the IS (don't mention trade in OR if your financing or not at this point)
3) Once you've got a good price, mention your trade in
4) Negotiate the trade in value. I would say $20,000-21,000 is fair. Show them that KBB says that car sells CPO for about $25,500...which btw the dealer will almost certainly price above that (click CPO value on the left in the link i put and you'll see it).
If your ES350 is in pretty good shape, it will probably cost them less than a $1000 total to bring it up to par (inspection, service, detail, etc) which still means a pretty good profit margin for them.
Btw car #2 has low miles and is an 07, if its not certified, it probably means something is wrong with it and it couldn't be certified (my guess).
^ $20K for your ES350 seems like a fair deal according to kbb (dunno what options you have tho, so your car might be worth more/less. You may be able to get a grand above that though. As you know, all a Lexus dealer is going to do is take your car, CPO it and sell it for $26k+ on the lot. I'm sure you can get at least $20,000 for the trade in.
Best way to negotiate that works for me is:
1) Find the IS you want
2) Negotiate the price on the IS (don't mention trade in OR if your financing or not at this point)
3) Once you've got a good price, mention your trade in
4) Negotiate the trade in value. I would say $20,000-21,000 is fair. Show them that KBB says that car sells CPO for about $25,500...which btw the dealer will almost certainly price above that (click CPO value on the left in the link i put and you'll see it).
If your ES350 is in pretty good shape, it will probably cost them less than a $1000 total to bring it up to par (inspection, service, detail, etc) which still means a pretty good profit margin for them.
Btw car #2 has low miles and is an 07, if its not certified, it probably means something is wrong with it and it couldn't be certified (my guess).
03-07-11, 04:28 PM
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http://www.kbb.com/used-cars/lexus/e...&mileage=43000
^ $20K for your ES350 seems like a fair deal according to kbb (dunno what options you have tho, so your car might be worth more/less. You may be able to get a grand above that though. As you know, all a Lexus dealer is going to do is take your car, CPO it and sell it for $26k+ on the lot. I'm sure you can get at least $20,000 for the trade in.
Best way to negotiate that works for me is:
1) Find the IS you want
2) Negotiate the price on the IS (don't mention trade in OR if your financing or not at this point)
3) Once you've got a good price, mention your trade in
4) Negotiate the trade in value. I would say $20,000-21,000 is fair. Show them that KBB says that car sells CPO for about $25,500...which btw the dealer will almost certainly price above that (click CPO value on the left in the link i put and you'll see it).
If your ES350 is in pretty good shape, it will probably cost them less than a $1000 total to bring it up to par (inspection, service, detail, etc) which still means a pretty good profit margin for them.
Btw car #2 has low miles and is an 07, if its not certified, it probably means something is wrong with it and it couldn't be certified (my guess).
^ $20K for your ES350 seems like a fair deal according to kbb (dunno what options you have tho, so your car might be worth more/less. You may be able to get a grand above that though. As you know, all a Lexus dealer is going to do is take your car, CPO it and sell it for $26k+ on the lot. I'm sure you can get at least $20,000 for the trade in.
Best way to negotiate that works for me is:
1) Find the IS you want
2) Negotiate the price on the IS (don't mention trade in OR if your financing or not at this point)
3) Once you've got a good price, mention your trade in
4) Negotiate the trade in value. I would say $20,000-21,000 is fair. Show them that KBB says that car sells CPO for about $25,500...which btw the dealer will almost certainly price above that (click CPO value on the left in the link i put and you'll see it).
If your ES350 is in pretty good shape, it will probably cost them less than a $1000 total to bring it up to par (inspection, service, detail, etc) which still means a pretty good profit margin for them.
Btw car #2 has low miles and is an 07, if its not certified, it probably means something is wrong with it and it couldn't be certified (my guess).
. My 07 ES350 is loaded with parking sensors, xenons, bluetooth....pretty much everything except nav. It is also already CPO so I DOUBT the new dealer is going to CPO it again. And its in pretty good shape the only problem is one small door ding and a few scratches. I just put the vins of both the cars into the Lexus online site to get all the service records. Car #1 seems well maintained and did not have any odd service. But the Lexus site is reporting the color as "Glacier Frost Mica".
. I have never seen this color....googled it and it looks nice. Car #2 was a NYC car.
. Already had the brakes replaced at 18k miles. Other then that it seems maintained. This car was listed online only 3 days ago so i think I have little haggle room 
.What should I offer for these? Is $21k fair? I will being up the fact that both cars are not CPO. And is it true when you trade in your car you no longer need to pay tax
?
03-07-11, 04:35 PM
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The best way to negotiate imo is being able to walk away. Don't become too attached to the car, and if they're not budging off the price, be ready to walk away and wait. Most car dealerships will call you back the next day, maybe even the same night. But, I haven't done used car shopping before, so I'm not sure if it differs here.
Sorry, to thread jack, but I was looking at a used 2011 with only 2k miles and it isn't certified (from a Toyota dealer). The Carfax shows that there was 1 service done on it, but that was at 15 miles before it was registered. Should I be weary of it?
Thanks
Thanks
03-07-11, 04:37 PM
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The best way to negotiate imo is being able to walk away. Don't become too attached to the car, and if they're not budging off the price, be ready to walk away and wait. Most car dealerships will call you back the next day, maybe even the same night. But, I haven't done used car shopping before, so I'm not sure if it differs here.
Sorry, to thread jack, but I was looking at a used 2011 with only 2k miles and it isn't certified (from a Toyota dealer). The Carfax shows that there was 1 service done on it, but that was at 15 miles before it was registered. Should I be weary of it?
Thanks
Sorry, to thread jack, but I was looking at a used 2011 with only 2k miles and it isn't certified (from a Toyota dealer). The Carfax shows that there was 1 service done on it, but that was at 15 miles before it was registered. Should I be weary of it?
Thanks
03-07-11, 04:51 PM
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03-07-11, 04:58 PM
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Carfax is crap, a lot of things wont show up on it, afterall, someone has to report it for it to show up lol
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03-07-11, 05:03 PM
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That car has no service records. For the last 2k miles it was never serviced at Lexus. The owner bought it at Newport Lexus and the only service done was the new car prep at 12 miles.
Its a IS250 sport right? Tungsteen?
Its a IS250 sport right? Tungsteen?
03-07-11, 05:08 PM
#9
Hey thanks for the reply man . My 07 ES350 is loaded with parking sensors, xenons, bluetooth....pretty much everything except nav. It is also already CPO so I DOUBT the new dealer is going to CPO it again. And its in pretty good shape the only problem is one small door ding and a few scratches.
I just put the vins of both the cars into the Lexus online site to get all the service records. Car #1 seems well maintained and did not have any odd service. But the Lexus site is reporting the color as "Glacier Frost Mica".. I have never seen this color....googled it and it looks nice.
Car #2 was a NYC car.. Already had the brakes replaced at 18k miles. Other then that it seems maintained. This car was listed online only 3 days ago so i think I have little haggle room .
What should I offer for these? Is $21k fair? I will being up the fact that both cars are not CPO. And is it true when you trade in your car you no longer need to pay tax?
. My 07 ES350 is loaded with parking sensors, xenons, bluetooth....pretty much everything except nav. It is also already CPO so I DOUBT the new dealer is going to CPO it again. And its in pretty good shape the only problem is one small door ding and a few scratches. I just put the vins of both the cars into the Lexus online site to get all the service records. Car #1 seems well maintained and did not have any odd service. But the Lexus site is reporting the color as "Glacier Frost Mica".
. I have never seen this color....googled it and it looks nice. Car #2 was a NYC car.
. Already had the brakes replaced at 18k miles. Other then that it seems maintained. This car was listed online only 3 days ago so i think I have little haggle room .What should I offer for these? Is $21k fair? I will being up the fact that both cars are not CPO. And is it true when you trade in your car you no longer need to pay tax
?GFM = very nice color
. The dealer may have mixed it up with Starfire pearl when putting it for sale. It should be whatever the VIN record says. If i were you, picking between those 2 cars only of course, i'd skip car #2 and negotiate on car #1. KBB says the expected asking price of car #1 would be about $26,000 in NY. So $23,900 isn't bad. But if the listing price is $23,900 you should be able to get it down to around $22,500 easy.
. http://www.kbb.com/used-cars/lexus/i...&mileage=20000
03-07-11, 05:11 PM
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Yeah, that's what I figured. Just had to make sure I guess, haha.
Yeah, it's the IS 250 in tungsteen. I guess I'll try to negotiate it online first then go in for a test drive.
Good luck on your car buying!
Yeah, it's the IS 250 in tungsteen. I guess I'll try to negotiate it online first then go in for a test drive.
Good luck on your car buying!
03-07-11, 05:25 PM
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.And you think $22500 is fair? I can't believe the same cars were going for $21990 last year. Did you buy your 2007 IS250 CPO/Preowned? If you don't mind me asking how much did you pick it up for?
03-07-11, 05:34 PM
#12
So the dealerships usually buythe used cars for a little under the kbb trade in value, I've been through this a couple times. Depending on what the market for that particular cars demand is at that point. My advise is to see what the trade in is on the car you want to buy and get em to go down to a thousand or maybe 2 if they playin hard ball. GL
03-07-11, 05:40 PM
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So the dealerships usually buythe used cars for a little under the kbb trade in value, I've been through this a couple times. Depending on what the market for that particular cars demand is at that point. My advise is to see what the trade in is on the car you want to buy and get em to go down to a thousand or maybe 2 if they playin hard ball. GL
03-07-11, 05:48 PM
#14
Nope. 20k is probably what they got it for. They most likely will not sell it to you for no profit unless its been sittin there for a year or so. Start at 21k the kbb trade in and go up from there. If they actually got it for 20k then I could see em lettin it go for 22k
03-07-11, 06:00 PM
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For a used car spend a few bucks and get a galves.com subscription. That will show you actual trade-in values so you know what they paid, give or take a little. I just got an 08 IS350 with 30K miles for $25k. Galves said trade-in value was around 23.5. I usually figure that $1500 over trade-in is fair, given that they service it, put on new tires, etc.