Dolphy

Hi, I am new to the forum and considering buying a CPO 2014 Lexus ES 350, Luxury Package, Navigation system, Back up Camera with 30.405 miles on it.
I got an offer of $ 26,840, + 210 doc fee,+ 24 car, + Michigan tax of $1624.50. OTD price of $28,698.50 + License plate fee.
Is the OTD price a good deal?
I appreciate your input in my question.
Thanks!

Jon

Dolphy

correction: (24 car) is $24 CVR fee.

BigRon12

I would try to negotiate a bit more imo

For reference I bought a 2014 CPO ES350 Ultra Lux Package w/Mark L. sound system with only 8900 miles on it for 34k OTD

I noticed you were in Michigan. I purchased mine from Meade Lexus of South field.

lesz

I don't know. According to KBB, the difference in price for a CPO 2014 ES equipped like yours with 9,000 miles and one like the one that the OP is considering with 30,000 miles (assuming that both are in similar excellent condition) should be about $3000. Based on that, it looks like the offer given to the OP is, relatively speaking, pretty good.

The difference in miles on the two vehicles should account for about $2000 of that difference, and the difference between the Luxury package and the UL/ML accounts for the rest. Unfortunately, packages/options like the UL/ML retain only a small fraction of their original cost. The option that likely retains the biggest share of its original cost is the navigation system.

Dolphy

Thanks Big Ron 12 and lesz for your input.
I am waiting another week to see if they will bring down the asking price, they have two similar vehicles that I like in their inventory.

Ratchey

Not sure how much youl ike the car, but you may regret waiting to save a few hundred. When I was buying mine, they sold 2 right out from under me and we had to start over both times. They had to bring in one from another dealership (one was already a trade from Portland) and these were new cars where there were others that I could get. Used are much harder to find.
Just something to think about.

madsen203

Recently bought a 2014 with 25k miles; pristine condition white ultra luxury with everything except the blind spot monitoring and adaptive cruise control and every service fully documented... $34 OTD.

It was 30K plus taxes, fees, and includes total interest on a 0.9% loan. I had a referral so that saved me about $1,000 off asking. California car if that makes much difference.

I'm very happy with the ML Audio (only reason selecting UL version). Also the pano roof looks better (especially on the white) IMHO.

If those last two options are not of interest for you 28,5K sounds fair. In the two months I've owned it I'm nearly at 30K. I wouldn't buy a used car with over 30K but right at 30K I'd be happy to.

Does it have service records done by Lexus dealer every 5k?

Dolphy

[QUOTE=madsen203;9699931

Does it have service records done by Lexus dealer every 5k?[/QUOTE]


yes it has the service dealer records. By the way, i have noticed on the service record about battery of car being replaced too soon and the car originally came in Massachusetts ( im from michigan). The lexus dealer in Massachusetts replaced the battery and failed again and the gateway ecu was replaced with a new one. Since then i did not see any records of having problem with car battery.
do you have any issues like this? Thanks!

Mike728

Search the forum. There are a few threads regarding the battery issue. The gateway ECU is the fix.

Buy the car, if you like it. It sounds like a fair deal.

lesz

I'll add a couple of additional thoughts to what I said in an earlier post in this thread.

If you are considering buying the car described in the OP, there are a couple of things that you should specifically be checking. One is the tires. I believe that, to qualify as a CPO vehicle, the car's tires need to have over 5/32 of tread left. Otherwise, they are supposed to be replaced. At 30,000 miles, the original tires that came on the car are likely to be close to that 5/32 mark. Also, you should make sure that the 30,000 mile service has been done because the 30,000 service is a bit more expensive than earlier services since it calls for replacing the brake fluid. If you don't check those things and if you end up having to replace the tires yourself and doing the 30,000 mile service yourself, that is like adding close to $1000 to what you paid for the car.

I said earlier that the price offered by the dealer seems to be a good price, but I qualify that assessment by adding that no price is a good one if you aren't careful to make sure that the dealer isn't padding its profits in other ways. If you are trading in another car, is the offer for a trade-in a fair one? If you are financing, are the financing terms fair ones? Are you allowing the dealer the opportunity to pad its profits by selling you a high mark-up extended warranty or other high mark-up dealer add-ons? These are the factors that can allow a dealer to turn what looks like a good buy for the customer into a high profit sale for the dealership.

I agree with the above post 100%. If you find a car that you really like, it really isn't worth it to take the chance of losing it for a couple of hundred dollars, and that is especially true with a used vehicle. Each used vehicle is unique with regard to its options, condition, mileage, etc. If you lose that car and if that car is really the best fit for you, it could be a while before you find another one for which the fit is as good.

Maljunulo

This.

Playing "Master Negotiator" with guys who do that every day and make a successful living at it is folly, especially with used cars where first money on the table takes it.

All things in life come down, sooner or later, to "Do you want it or not?"

The folks above have given you some sound advice, so it is pretty much your move at this point.

madsen203

This is all too true. I was virtually unable to negotiate. I used True Car to get the best "used value" and the dealer knocked off an additional $1500 when I made contact with a referral source. From the true car price/value, they were unwilling to budge on price. So I use that as a basis of whether it is a "good deal."

If it doesn't meet every option you want (color, mileage, etc) then there is no harm is waiting if you have the ability to. I like my 2014 and feel the loss in depreciation over two years of someone else's ownership was well worth the savings.

Was the car a previous lease? It makes me wonder when it was previously owned and they decided to rid the vehicle. Sounds like that part replaced was within normal limits. I saw a few that had battery issues notated in the carfax and I wonder if it had some electrical grimlem or was just a case of someone storing the key fob too close to the vehicle. Either way, any flags like that would keep me looking elsewhere--these cars are nothing but electronics and if there is a sign there will be issues with that particular car then it can only be downhill from there.

Best of luck,

jollick

Just a note on the "storing the key fob too close to the vehicle". I believe this is a myth as I have had Lexus vehicles since 1998 and keep the fobs within 20 feet of the vehicles. I have left a car sitting for up to 3 weeks without an issue with the battery. Just my 2 cents.

madsen203

The issue was more like 5-10 feet. 20 is well out of range. Like hanging the keys in the garage or on other side of garage door where car is parked.

lesz

If it is a myth, it is one that Lexus is giving life to because, in the ES manual, it states that the fob should not be stored in or near the vehicle.

Also note that the caution about not storing the fob in or near the vehicle only applies to the fobs for newer vehicles with keyless push button start capability, and it does not apply to vehicles that are several years old and that need to have the key put into the ignition to start the vehicle.