Hopeful soon to be Lexus owner - questions about purchase that might go down tomorrow
02-25-14, 06:05 PM
#1
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Hopeful soon to be Lexus owner - questions about purchase that might go down tomorrow
Hi everyone.
I'll keep it as short as I can.
Fell in love with the 2014 IS 350 Ultra white w/ red F sport, seemingly like lots of others here.
I've been poking around with 2 or 3 dealers here in Upstate NY since November, but no one even budging off of $500 from MSRP, even when I fully disclose trade in, cash available, etc etc
So, the local dealer has a model in stock since December 23rd. It's been sitting since then, so last night I randomly emailed the sales guy and asked if it was still there. He said it was and when he emailed back, I noticed that the price was considerably less than the original MSRP.
Original MSRP was $48800, new price was $46,432. I have a rough $20k value trade in to put down on it plus $3-$5k cash.
So, I put a deposit on it today to try to buy tomorrow.
Here's the math, hope it makes sense but its all lifted from the Edmunds car loan calc
Lets say I take the car, as they offer for $46432
With tax, delivery of $850, 1.9% financing/60 months plus my $5k cash and $20k trade, the edmunds calc thinks I should be at $455 per month.
The sales guy is trying to keep my at $400. Sound good? Or how much more should I be willing to go? March sales in 3 days? Extra set of tires? This is a $50k car! There HAS to be more meat on it, right?
I'll keep it as short as I can.
Fell in love with the 2014 IS 350 Ultra white w/ red F sport, seemingly like lots of others here.
I've been poking around with 2 or 3 dealers here in Upstate NY since November, but no one even budging off of $500 from MSRP, even when I fully disclose trade in, cash available, etc etc
So, the local dealer has a model in stock since December 23rd. It's been sitting since then, so last night I randomly emailed the sales guy and asked if it was still there. He said it was and when he emailed back, I noticed that the price was considerably less than the original MSRP.
Original MSRP was $48800, new price was $46,432. I have a rough $20k value trade in to put down on it plus $3-$5k cash.
So, I put a deposit on it today to try to buy tomorrow.
Here's the math, hope it makes sense but its all lifted from the Edmunds car loan calc
Lets say I take the car, as they offer for $46432
With tax, delivery of $850, 1.9% financing/60 months plus my $5k cash and $20k trade, the edmunds calc thinks I should be at $455 per month.
The sales guy is trying to keep my at $400. Sound good? Or how much more should I be willing to go? March sales in 3 days? Extra set of tires? This is a $50k car! There HAS to be more meat on it, right?
02-25-14, 07:23 PM
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02-25-14, 07:48 PM
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I did read some of that thread, thank you. Just so much info about leasing and 250's to skim over. It was had to find a similar circumstance to my own but I'll keep reading. From what I see, people aren't getting these cars for much less than $2k from MSRP, so I think I'm fairly happy with my position.
If anyone disagrees, state your position. I know I would help a fellow car enthusiast out if I had the power.
Also, did a true car on the IS in my area. Seems invoice is about $45900
If anyone disagrees, state your position. I know I would help a fellow car enthusiast out if I had the power.
Also, did a true car on the IS in my area. Seems invoice is about $45900
02-25-14, 07:55 PM
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02-25-14, 08:29 PM
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When a dealer just drops the price willingly like that, I would be skeptical. It's possible that the car has just been sitting too long and they want to get rid of it. But I would want to find out things like: was it a demo car? has it been test driven by hundreds of people? how many miles are on it now (since it's been there for so long, maybe it has hundreds/thousands of miles)? how's the paint condition (I've seen several cars on dealer lots that had obvious scratches and wear & tear)? was it in an accident and repaired? etc.
Maybe you don't care about any of those issues, then it wouldn't matter. In the end, a good price is what YOU are happy paying for the car; whether YOU felt you got good value for what you paid.
Also, in the thread that VGer referred you to, start reading from the last page and go backwards, those posts are more recent and more reflective of the current market. There are plenty of people getting more than 2K off. You may also want to focus on the posts by people in your area, since you may not be able to get the same deals as people in other parts of the country.
If you have a Costco membership, try going through them too. When I checked, the Costco price was $400 off invoice (or over $3K off MSRP) without any haggling.
Maybe you don't care about any of those issues, then it wouldn't matter. In the end, a good price is what YOU are happy paying for the car; whether YOU felt you got good value for what you paid.
Also, in the thread that VGer referred you to, start reading from the last page and go backwards, those posts are more recent and more reflective of the current market. There are plenty of people getting more than 2K off. You may also want to focus on the posts by people in your area, since you may not be able to get the same deals as people in other parts of the country.
If you have a Costco membership, try going through them too. When I checked, the Costco price was $400 off invoice (or over $3K off MSRP) without any haggling.
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02-26-14, 12:43 PM
#9
i can't say whether or not you're in a good position as i don't think you've taken every factor into consideration yet. if you had, and stated the following, then my thought would have changed...
have you considered not only emailing local dealers but dealers in your surrounding state? sure, you don't want to buy from them, but you also don't need to--you just want to get a price! i'm in va and emailed several dealers from va, md, nc, etc. found one place willing to give me invoice and another $400 above invoice. this was my starting point for negotiations.
i then considered what incentives there were. have you looked at lexus financial services to see what's currently being offered? when i bought my car a couple months back, i took advantage of $1750 in incentives ($750 financing with LFS, don't worry you can drop them the month after and refi with your credit union for a lower rate; and $1000 for new grad/higher education).
use these tools to help you find the best price and good luck!
have you considered not only emailing local dealers but dealers in your surrounding state? sure, you don't want to buy from them, but you also don't need to--you just want to get a price! i'm in va and emailed several dealers from va, md, nc, etc. found one place willing to give me invoice and another $400 above invoice. this was my starting point for negotiations.
i then considered what incentives there were. have you looked at lexus financial services to see what's currently being offered? when i bought my car a couple months back, i took advantage of $1750 in incentives ($750 financing with LFS, don't worry you can drop them the month after and refi with your credit union for a lower rate; and $1000 for new grad/higher education).
use these tools to help you find the best price and good luck!
02-26-14, 08:09 PM
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This is how it went down today.
They offered a fair deal on my trade, which was a truck
I got approx $22k for the trade.
I had $5k in cash to offer and ended up getting the 1.9% for 60 months for under $400 per month.
The original MSRP on the car was $48803 and depending on which end you take the money from, they discounted either the MSRP or added to the trade, I walked with a payment plan I'm pretty happy with. Without seeing the final paperwork (delivery is this weekend) i would say I'm somewhere between $45k and $46 on the car.
As mentioned, its a 2014 AWD F sport.
They offered a fair deal on my trade, which was a truck
I got approx $22k for the trade.
I had $5k in cash to offer and ended up getting the 1.9% for 60 months for under $400 per month.
The original MSRP on the car was $48803 and depending on which end you take the money from, they discounted either the MSRP or added to the trade, I walked with a payment plan I'm pretty happy with. Without seeing the final paperwork (delivery is this weekend) i would say I'm somewhere between $45k and $46 on the car.
As mentioned, its a 2014 AWD F sport.
02-26-14, 08:13 PM
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When a dealer just drops the price willingly like that, I would be skeptical. It's possible that the car has just been sitting too long and they want to get rid of it. But I would want to find out things like: was it a demo car? has it been test driven by hundreds of people? how many miles are on it now (since it's been there for so long, maybe it has hundreds/thousands of miles)? how's the paint condition (I've seen several cars on dealer lots that had obvious scratches and wear & tear)? was it in an accident and repaired? etc.
Maybe you don't care about any of those issues, then it wouldn't matter. In the end, a good price is what YOU are happy paying for the car; whether YOU felt you got good value for what you paid.
Also, in the thread that VGer referred you to, start reading from the last page and go backwards, those posts are more recent and more reflective of the current market. There are plenty of people getting more than 2K off. You may also want to focus on the posts by people in your area, since you may not be able to get the same deals as people in other parts of the country.
If you have a Costco membership, try going through them too. When I checked, the Costco price was $400 off invoice (or over $3K off MSRP) without any haggling.
Maybe you don't care about any of those issues, then it wouldn't matter. In the end, a good price is what YOU are happy paying for the car; whether YOU felt you got good value for what you paid.
Also, in the thread that VGer referred you to, start reading from the last page and go backwards, those posts are more recent and more reflective of the current market. There are plenty of people getting more than 2K off. You may also want to focus on the posts by people in your area, since you may not be able to get the same deals as people in other parts of the country.
If you have a Costco membership, try going through them too. When I checked, the Costco price was $400 off invoice (or over $3K off MSRP) without any haggling.
Spoke to several other NYS dealers, same thing. They didn't budge much. I think that these cars are coming up on a year since they were built. Also helped that it was month end in February in a particularly cold and snowy winter in the region. The sales guy was pretty rigid but he did slip when he told me that sales were flat this month.
Anyway. I don't feel taken advantage of and I'm sure they will make $6k or more on the truck
02-26-14, 09:18 PM
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Agreed, and no the car has 36 miles on it. The dealership has had the car since December, I don't think they had a lot of serious offers on it. The first time I went in in November they refused to come even $500 of MSRP and I just let the whole idea go.
Spoke to several other NYS dealers, same thing. They didn't budge much. I think that these cars are coming up on a year since they were built. Also helped that it was month end in February in a particularly cold and snowy winter in the region. The sales guy was pretty rigid but he did slip when he told me that sales were flat this month.
Anyway. I don't feel taken advantage of and I'm sure they will make $6k or more on the truck
Spoke to several other NYS dealers, same thing. They didn't budge much. I think that these cars are coming up on a year since they were built. Also helped that it was month end in February in a particularly cold and snowy winter in the region. The sales guy was pretty rigid but he did slip when he told me that sales were flat this month.
Anyway. I don't feel taken advantage of and I'm sure they will make $6k or more on the truck
Make sure you still thoroughly inspect the car and check their numbers before you take delivery though.
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