2 owner CPO - 2nd owner < 1 month? - Club Lexus Forums


2 owner CPO - 2nd owner < 1 month?

Reply
 
 
 
Thread Tools Search this Thread
Old 07-26-12, 06:26 AM   #1
phatonycmu
Driver School Candidate
Thread Starter
 
Join Date: Jul 2012
Location: CA
Posts: 8
Default 2 owner CPO - 2nd owner < 1 month?

Hello,
I'm in the market for 3rd Gen RX, specifically 2010 MY. I've noticed a couple lease vehicles that have Carfax reports as 2 owners. The first owner will have the lease for a few years and the second owner will have the car less than 30 days according to Carfax. Does anyone know if there is something more explainable than the second owner dumping the car on a dealer after 1 month?

Thanks in advance! I've searched the forums and haven't been able to find anything that may help explaining this.
phatonycmu is offline   Reply With Quote
Old 07-26-12, 07:03 AM   #2
ejm3
Driver
 
Join Date: Apr 2012
Location: CT
Posts: 122
Default

Do you know if the second owners actually registered the car for that short period?

Also I have a certain distrust of Carfax. I've Carfax-ed my own cars are found frequent inaccuracies,
ejm3 is offline   Reply With Quote
Old 07-26-12, 07:19 AM   #3
phatonycmu
Driver School Candidate
Thread Starter
 
Join Date: Jul 2012
Location: CA
Posts: 8
Default

Unfortunately I don't. As an example this car's Carfax shows what I'm seeing:

http://www.lcpo.com/cpo_podetails.ps...alerCode=62906

Quote:
Originally Posted by ejm3 View Post
Do you know if the second owners actually registered the car for that short period?

Also I have a certain distrust of Carfax. I've Carfax-ed my own cars are found frequent inaccuracies,
phatonycmu is offline   Reply With Quote
Old 07-26-12, 11:05 AM   #4
ejm3
Driver
 
Join Date: Apr 2012
Location: CT
Posts: 122
Default

The interesting part this is that since its been for sale in May it went from Princeton BMW
to Princeton MINI (I assume same dealer to Lawrence Lexus a few days later.

Do you know if Princeton & Lawrence are owned by the same company? If not, maybe Carfax is counting that as a sale and a second owner?

Also maybe contact DMV for more details.
ejm3 is offline   Reply With Quote
Old 07-26-12, 11:24 AM   #5
UCSB
Lexus Test Driver
 
Join Date: Mar 2010
Location: CA
Posts: 811
Default

It doesn't surprise me. I have never leased a Lexus, but a friend of mine has a 450h on lease. It is my understanding that his residual value is below market value (maybe way below market) for the car. I'm sure that many people coming off a lease may buy it out or let another family member/friend buy out the lease. These vehicles may be traded quickly for a new car or a car that better suits the new owners requirements. I used to offer people in my extended family the opportunity to buy my used cars. I gave them great deals ... until I noticed they started reselling them for profit.

Last edited by UCSB; 07-26-12 at 11:27 AM.
UCSB is offline   Reply With Quote
Old 07-27-12, 05:33 AM   #6
ejm3
Driver
 
Join Date: Apr 2012
Location: CT
Posts: 122
Default

Honestly I thought you only became an offical "owner" of a vehicle if you actually registered it.
In other words a cat can be bought and sold 10 times and as long as it wasn't registered they didn't count as owners and when it finally gets to you and you put plates on it then you would still be the second owner.

In your case above the person buying the car off lease to resell would have had to register it in their name for a month to show up as the owner, which is unlikely I would think.
ejm3 is offline   Reply With Quote
Old 07-27-12, 06:14 AM   #7
Quatro40
Rookie
 
Join Date: May 2012
Location: NJ
Posts: 63
Default

When a car comes off a lease it is sent back to the auction block, most of the times the dealer won't put the same car for re sales. After they go to the auction block the dealer registers it when they add it to their inventory that explains the second owner having the car for about 30 days.
Quatro40 is offline   Reply With Quote
Old 07-29-12, 06:52 AM   #8
Mike95
Driver School Candidate
 
Join Date: Jul 2012
Location: NY
Posts: 11
Default

Hey Phato, email me and maybe I can get you a good deal. I'm in NYC. What color you looking for? With or without nav?
Mike95 is offline   Reply With Quote
Old 07-29-12, 09:09 AM   #9
InRBigness
Lead Lap
 
InRBigness's Avatar
 
Join Date: Oct 2011
Location: manitoba
Posts: 580
Default

Quote:
Originally Posted by ejm3 View Post
In other words a cat can be bought and sold 10 times and as long as it wasn't registered they didn't count as owners and when it finally gets to you and you put plates on it .
You guys need to put put plates on your cats? Wow I thought a license tag was too much around here. Do you use straps to hold it to the side or does the cat just drag it around by its collar?
InRBigness is offline   Reply With Quote
Old 07-29-12, 09:20 AM   #10
Marqevans
Lead Lap
 
Join Date: Jan 2003
Location: IL
Posts: 548
Default

Quote:
Originally Posted by Quatro40 View Post
When a car comes off a lease it is sent back to the auction block, most of the times the dealer won't put the same car for re sales. After they go to the auction block the dealer registers it when they add it to their inventory that explains the second owner having the car for about 30 days.
Sometimes dealers buy you out of the lease early if you lease a new one. Then put it on their lot without griping to auction.
Marqevans is offline   Reply With Quote
 
 
Reply

Related Topics
Thread Thread Starter Forum Replies Last Post
CP0 vs non-CPO IS 350 SanjayGolf IS - 2nd Gen (2006-2013) 17 07-16-14 09:51 PM
CPO leather flaking & discoloring raviola4 RX - 3rd Gen (2010-2015) 15 06-29-14 11:42 PM
A little help with prices, please Solman SC430 - 2nd Gen (2001-2010) 4 10-31-13 07:11 AM
Is this is a good offer ? lexxusssss RX - 3rd Gen (2010-2015) 6 09-23-13 10:03 AM
Can the 3rd owner take advantage of a CPO CBRDude LX - 3rd Gen (2008-present) 2 06-23-13 06:29 AM


Tags
2nd, car, carfax, case, cpo, history, leased, lexus, month, owner, ownership, reading, rx, rx350, traded

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Forum Jump


All times are GMT -7. The time now is 03:20 PM.


Copyright © 2000-2016 Internet Brands, Inc. All Rights Reserved