funnie

iTrader: (14)

Hi rebs. Thanks for the edmunds reference for current rebates and incentives. Looks like they are offering just the low financing (2.9 for 60 months). Do they ever do rebates at all? What is the best incentive that they have ever done?

Do you guys think since I am a first time auto buyer that I will be able to get the 2.9 financing rate? I am asking this because I was about to buy a used IS 350 06 and the salesman was going to charge me 9.9% interest rate. I think that is pretty bad considering I have a stable job, 0 debt, own a home, plus I was willing to pay 50% down. That was a bummer since I just finished college and am trying to reward myself.

Oh well i found a better place for resources and am inspired to look for a new IS 350. What do you guys think of the financing and incentive programs that has been / being offered?

iceache925

iTrader: (1)

Ok it was 47k with the 3m stuff added from the dealer. I paid 36k before taxes and fees. That's 11k off the sticker.

rebs

I've been told that Lexus rarely (or never) offer rebates, but I saw them do it twice this year. According to my notes it was officially called "Manufacturer to Dealer Marketing Support" in the amount of 4k. I'm having trouble finding any '08 incentives information tonight though, so you'll probably have to ask a few dealers. Just keep in mind you are in a position of strength. Those cars are sitting on the lot depreciating and if they want the same $$ for the '08 as the '09 well...that's just silly.

As far as financing. I have no idea. It's very complicated, and rates have been fluctuating a bit. I'd recommend you read myfico.com forums to find out how to maximize your credit score and get good APR offers (it's more complicated than most people realize and just paying on-time isn't maximizing your score.). Also, I'd recommend shopping around (include Toyota, but also banks and credit unions). You are probably already doing all of this, but since you (sorta) asked I thought I'd throw in my 2 cents.

Keep in mind that you will get a better APR on a new car than a used car and that the IRS is allowing you to write off the sales tax on *new* vehicles.

http://www.irs.gov/newsroom/article/...html?portlet=7

Sorry, I wasn't of more help, but hopefully this will spark some ideas on your end.

funnie

iTrader: (14)

Thanks Rebs.

After day 1 of e-mailing back and forth with at least 6 different Lexus dealers. Not one had an 08 in stock.

They all tried to offer me an 09 Navigation package for $40kwith 2.9% / 60 months.

I think I am going to pass on that. I don't think that is a good deal at all. Purchasing a new car for the first time is really a tough process. I see why its one of the biggest decisions to make in life.

If you guys see a fully loaded car somewhere outside of California or something maybe you can be nice and hook a brother up! I'm with the dough saved from the deal I would be able to have the car shipped =).

Hope fully tomorrow someone will offer a deal that I can not refuse. I will be doing my research and it is always good to wait and have my options open. Even if I have to wait til August.

rebs

Wow, I think my dealer still has like 6, and I thought Utah had a lot too, but your in a bigger market so I guess that makes sense.

40k doesn't seem like a bad deal for an '09 with nav & luxury, but it doesn't seem like a great deal either. If you decide to go that route, you might want to have them bid against one another. It seems like you should at least be able to get around invoice.

Good luck!

Tmirk

iTrader: (3)

30k for an 06 is way too high. 26otd should be attainable especially in CA.

funnie

iTrader: (14)

rebs - It was 40k for just the nav package

Tmirk - 26k otd for an 06, but it will have 40-50k miles. Do you know something that I dont ? Maybe I'm looking in the wrong places for used cars. I've looking at autotrader, cars.com, ebaymotors, recycler.com)

Thanks for the help guys!

funnie

iTrader: (14)

Hey guys,

I was able to find a local dealer willing to sell me a 2008 IS 350 with sports package and ML upgrade. It has 500 miles on it though =(, but its still new in my books. It is advertised for $42k. I asked if he is willing to sell for $36k, and the counter offer was $37k from him.

What do you guys think ? Should I try and shoot for another price? Good deal, bad deal, or pass?

It's tungsten peal with black leather. Looks sweet in the pictures, but I'm sure it would be awesome in person.

Any feedback is appreciated! Quick before its gone !!!

Chomsky

In today's economic climate, the best deals are on used cars. If you want to throw away ~$3k in tax and immediate depreciation, go ahead and get that 500 mile (new) car.

(doesn't understand the business sense)

iceache925

iTrader: (1)

With 500 miles on it, it's no longer a new car. Plus, the 2010 will be coming out so the car in a dealership point of view is going on 2 years old. I think you could probably talk this deal down a bit lower or just go with a used CPO 350 at 2.9 for 60months.

rebs

I'm almost always of the mindset you should buy a used car, since most new cars depreciate as soon as you drive them off the lot, but I don't think that is always the case in today's economic climate.

1. A lot of dealers are flipped upside on used cars that have been on the lot for awhile. For example, when I bought my 2008 IS350 (new) they had a used 07 that cost more and had more miles on it. They were unwilling to budge on the price (because they were flipped upside down and because they were getting some market support from Lexus corporate on the new 08's). Obviously this all depends on the dealership, their used car inventory, how much they paid for the used car (vs. the new car they sold), etc etc.

2. You get to write off the sales tax on a new car this year. That's not the case when you buy a *used* car. http://www.irs.gov/newsroom/article/...html?portlet=7

3. If your financing, APR is almost always higher on a used car.

I'm not saying go out and buy a new car, but I'm saying there are definitely circumstances where a new car can be a better economical decision today, so just keep an eye out.

kkobra838

I thought I'd throw my two cents in too. I just bought (last week) the 2006 IS350 with most of those options as well. Nav, ML, etc. - just no sports pkg or radar cruise. It had 21000 miles with CPO. I offered 28k and they took it. They are out there if you look. Good luck

funnie

iTrader: (14)

Howdy everyone!!

Does anyone have any ideas or experience buying a IS 350 from Carmax ? I am just reading over the net and there is nothing but bad reviews about people purchasing cars from Carmax. Just curious. Thanks everyone!

iceache925

iTrader: (1)

You got me.. not that it changes things but I found a 2009 IS350 SGM/Black with Navi. Nope, not ML and it's lux package for 36.6k. So, that's NEW. You can find a good deal on a new 2008 if you can find one. But, I was thinking the dealerships would end up upside down on used cars soon enough. ick.

Oh, and the 2.9 % on NEW ISs I think it ended on april 30th. But the used 2.9 is still going on.

funnie

iTrader: (14)

Has anyone purchased an IS 350 out of state? I mean there are some decent deals out of state.

i have been communicating with the local dealers around my area and they are willing to budge anywhere from $500 - $1000 off the advertised price.

Is it crazy to think this way... but here goes ... negotiate a price via e-mail / phone for an out of state pre-owned CPO IS 350 and have it shipped? Since its CPO there is nothing to worry about the car right guys ? This is without test driving the car of course. i have already test drove the IS 350 3 times at my local dealer and I know how it drives.

Am I shooting myself in the foot here thinking of buying an auto out of state without test driving ? I know that I will have to pay for shipping, but I'm sure from the cash saved from the deal I would be able to pay for shipping.

Any thoughts of feedback ? Thanks guys.