CPMD

iTrader: (2)

Hi all,

I'm in the market for a CPO RX350 (07 or 08), and I've looked at quite a few number of cars. I came across one that is an 07, dealer maintained every 5k, 1 owner, 63,000 miles, navi, tow package, and the color combo I want. They want $27,690, but are waiting for me to submit an offer that they will consider.

This is the first time I'm buying a CPO used Lexus. I'm looking for some advice as to how much lower I should go from their list price? I'm not sure how much exactly CPO adds to the sales price of the car. Any recent RX350 purchase prices are welcomed to help guide me and other members to get the best deal out there

Rainbird

If you are interested in that 2007 I would counter their offer at $25,000.

CPMD

iTrader: (2)

Hi Rainbird, so how much do you think would be a good price before TTL, since I'm sure they will counteroffer, and how much do you think CPO adds to the price of the sale of the car? Thanks

Rainbird

A CPO is really nothing but an extended warranty usually to 100K miles. Depending on the vehicles mileage at sale or if any factory warranty is remaining, a dealer may tack on an fee of $0 to $1500. If the sticker price lists it as a CPO the fee should be already included.

I your case with 63K miles, I am sure they have a CPO fee included. The price between Ohio (you) and California (me) is whacked. Out here you would pay more for this vehicle, that is a fact.

CPMD

iTrader: (2)

Even more funnier, I found this car out of state (east coast) The Lexus dealerships for sales here in OH are known to rip people off. I know California's prices usually are higher, and it's so hard to find the perfect color combo, options, miles, and last but not least maintenance history.

Do you think it's not wishful thinking that they decrease their asking price by 1-1.5k? I think for this car 25.5k plus TTL would be great. Thoughts on this?

cjs18

It may be worth noting that a car designated CPO, in addition to this warranty consideration, will have undergone a 160 point inspection which is billed internally at about 2 hours and is generally going to be in better condition than non-CPO vehicles. Most if not all that I looked at had new tires, new floor mats, zero body defects, etc. The dealer will usually invest more in the car to make it as like-new as practical. To see what's been done since the dealer acquired the car you can ask to see the internal invoice for the CPO preparation - ask the salesperson. That, of course, is expected to translate to a premium price. Specific to your situation I believe we'd pay more than your example here in the midwest also.

CPMD

iTrader: (2)

I came across a black/black navigation, 72k, non-lexus dealer. The car has been dealer maintained, but obviously no warranty. Price is 23k non-negotiated. Which one of these two cars would you guys pick? First one in this thread or this? Do you think the extra $3-3.5k is worth it to buy from a Lexus dealer as CPO with 3 years warranty?

tfischer

I bought an RX CPO in '07, and, as noted above, in addition to the additional 3 years of warranty, the car had been completely gone over in the shop and many worn parts replaced, including items like floor mats and sun visors. My understanding is that a dealer spends 4 or 5 times on a CPO car than on one that is not CPO, since Lexus is going to stand behind the car for an additional 3 years. In the world of used cars, it's a pretty good deal.

thomas1

That is a great deal, I would consider it....The CPO is only good for the 100k mileage limit...At 100k it is done...Heck put the extra cash aside and drive it with a smile...

mandyfig

CPO means additional $1500 to $2000 as insurance for the extended CPO warranty. Good investment.

It is all about negotiation. Offer $26K out the door. Good luck.

cjs18

I think it's difficult for people who are not familiar with conditions in your area to give you specific advice on what's a better buy. The best advice I could give is to study the asking prices for a lot of similar vehicles and try to estimate what they actually sell for. You can probably get some help from Internet sources. I make the assumption that every price is negotiable and in my experience there is usually somewhere in the neighborhood of 5-10% to work with.

For me, condition and mileage are everything so I am willing to pay more to get a very well-preserved car with a good service history and lots of road ahead of it. A while back I bought a CPO '09 RX with 24K miles and I thought that the premium for CPO was between $1.5-2K. I admit that's just a guess because it was nearly impossible to find a lot of non-CPO '09s to compare.

CPMD

iTrader: (2)

I think CPO is the way to go as well. How many miles were on it, did it have navi, and how much did you pay OTD?

tfischer

My '04 RX, which I bought in '07, had about 45,000 miles on it at the time, (it only has about 65,000 now) and was the color I wanted, and had the NAV which I insisted on, as well as all other options that I am aware of (ML audio system, etc.). I think I paid about 30K for it, but I am not sure, as they took my old RAV4 in trade, which surely had some impact on the ultimate price, although it was not worth much.

mandyfig

So did you take it home yet?

CPMD

iTrader: (2)

I'm seeing too many beautiful RX's out there What I did was I put in an offer of $25.5 plus TTL on a CPO 07 RX with navi, AWD. Their list price was $27.5, so I hope I didn't low ball them lol.

What do you think about my offer? I have some wiggle room on paying for this car but we will see.