jekv12

All,

There were a few other threads on this forum about this, but they were from a couple years back. Age matters of course to establishing a fair price for a car.

Have my eye on an '07 ES350, Smoky Granite, Navigation, ML, light gray (ash ?? interior, and I guess all the trimmings. I had a quick look and test drive today. The car is in very good condition; there are a couple issues like the door trim drivers side where it goes into the body is a little rough (not ripped, just rough, like it might have been caught on the seat belt hanging down), the finish on the Start/Stop push button is worn; some minor dings on the steering wheel probably due to rings?

The dealer is close and that's an important point for service.

They are asking 23K and I'm wondering if that's reasonable or what I should offer. The mileage is decent but it is still a 5 to 6 year old car after all. Low financing rates via the CPO program ends
today.

I need to go back and look it over in detail but on first impression it is very, very nice.

TIA,

John

iceblast

Nice ride. It does have all the luxury options which is nice, but for a 6+ year old car, I would turn the screws harder closer to the $20K mark. Let them know most cars have these luxury options nowaday (ie. nissan maxima, acura tl, etc. within similar price range, probably newer etc.).

I payed $20K early last year for a similar vehicle (no Nav, no ML) for a CPO '07....

jcat_350

IMO, pretty high for a 2007. The mileage and options are nice, and the CPO is a huge plus. But I damn sure would not be paying 23k for a 6 year old car.

You can get into an 08-09 for that amount of money. Don't forget, if it's CPO, you can service it at ANY lexus dealer, so you could buy it cross country and service it near home.

I'd keep looking. Sounds like an off-lease or company car that wasnt overly taken care of.

LexBob2

It could be 7 years old since the new gen 2007 came out in late-April/early-May 2006.

I agree, maybe keep looking.

jekv12

Good points all. The carfax has it in service 12/2006, so about 6 1/2 years. It was originally purchased at this dealer; the carfax also says Personal for type of owner. If it was leased or company car, would it say something else?

There is a curious lack of service records according to carfax after the first couple that were performed at this dealer. I'm guessing the PO went to an independent or someone that didn't record the service? Sounds a little odd still it seemed to be OK for CPO.

jekv12

So another test drive tonight and discussion about price with the used car manager. I went aggressive, 20k out the door, knowing that wasn't going to work. After some back and forth, the best they could do was 22k, unless I wanted to forgo the CPO warranty, which would have taken another 1k off. I was tempted by the latter given all the repairs and reconditioning have already been done. But I do a lot of driving and the warranty is fairly important... I mean one could get a new car ( ok not a lexus) in the low 20's with a warranty.

Thanks for tips, all.

ThumperPup

for that price if i think is to much
ir your heart is set on that one
get them to knock the price down to atleast 22 and also make sure they fix all the issues that you have a problem with
for the price they are asking they should have gone threw it and replaced anything worn like the push start button or the trim you say is bad and other things

but aslong as it;'s have no accidents i think 22 is about the high mark for a CPO that i have seen around here

jekv12

Good point, Thumperpup, about addressing the issues as part of the negotiation. Let's see where it goes today.

I should also mention that while the carfax showed a gap in service records, the sales person showed me a complete history. The car spent a few years in Florida, and the Lexus records showed service from a dealer there...the dealer name matched the one on the business card I saw in the owner's manual cover when I took the car out for the second test drive. So I feel better about that.

BTW do all Lexus models have a full sized spare? I was surprised to see that, complete with the matching wheel.

jcat_350

Honestly, 22k is STILL high for a 2007 even with CPO. Don't give in just yet. Hold on that number of 20 and see if you can get them down further.

Don't forget, certifying a car, despite what they tell you, does NOT cost them 1500 dollars. It costs them whatever one of their service techs and reconditioners makes for about 1 day's worth of work and then they pass on that cost to you, plus a healthy profit.

Add to that, at 23k, they probably own it for 17-18k. There's no way they're selling cars for less than a few grand profit per unit or they wouldn't be able to open their doors.

Point these things out to the sales rep, and tell him not to call you back until they're ready to make a deal. Tell him you know they have to make money, but you also aren't going to get taken for a ride on the cost of the car.

dman00001

I believe the full size spare was standard on the UL edition and optional for the other packages.

garsarno

Full size spare and matching wheel standard on 2007 Ultra version.

garsarno

According to www.edmunds.com used car appraisal: $14,100 trade in value / $17,000 dealer retail for your car as described.

Joeb427

iTrader: (1)

Probably because it's an UL which are rare,the dealer is trying get that ridiculous price..

LexBob2

Have you considered something new in that mid-$20's range? As you mentioned, full factory warranty, maybe even some newer tech, no previous drivers and 6-7 years newer.

iceblast

I strongly suggest NOT to buy it for more than $20K.

At the price range of $22K you can put yourself in a 2010 maxima with similar miles and just as much tech (not to mention 160K km powertrain warranty). OR you can get a generic 09 Lexus ES 350 for that price, with the powertrain warranty anyway. And all those options are dealer sticker prices, BEFORE any negotiating.