texas008

Dealer has a LS460L, 2011, 3 yr 8 month old, with 18k miles on it.
with navi,
clean nice car.
what do you think is the right price for it?
Thanks,

Nospinzone

I would plug in all the specifics at edmunds, kbb and nada, and then average them and you'll get a ballpark idea.

greg3852

Or you could also look on auto trader and see what an average price is just to give you a very rough idea.

riknchar

From my experience, if the car checks out service-wise and has not been involved in an accident, anything under $45K would probably be a reasonable deal (especially if the car is a CPO from a Lexus dealer). Anything under $40K would be a complete steal. What is the dealer currently asking for the car?

texas008

thanks a lot for the help.

dealer initial asking price was 51500 (3wks ago)
price dropped last weekend to 49,000

seems 45000 ~ 46000 would be good deal.

texas008

it also surprised me that i heard that new LS460 back then could be got for less than $70k,
and after 3~4 years they are still more than $45k.

sktn77a

iTrader: (2)

Figure 50% depreciation in 3 years (trade-in value). That's probably what the dealer paid. Figure out how much profit he should make on whatever he does to the car (service, CPO, etc) and provides to you (primarily convenience in finding the car and inventory).

riknchar

The high resale value is actually a tribute to the overall quality and desirability of the Lexus brand. The free market sets the price for used cars, and if the used vehicles are perceived as reliable and valuable, they will hold more of their original price.

A 3-year old Lexus that has been serviced regularly by a Lexus dealer is worth considerably more (as a percentage of original MSRP) than a Chevy or Kia of the same age.

I bought an 8-year old CPO LS600hL with 58K miles, and I couldn't be happier with the overall refinement, quality, durability, and ride of this "ancient" vehicle. Mine stickered at $115K in 2008, and I paid $42K, which seems like a lot for an 8-year old car. Again, I have no regrets...

Good luck! Shoot for $45K or less!

hfahmy

CPO 2011 LS460L 23K miles for $44K

http://www.lexusatlanta.com/Used-201...GA/vd/20542284