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What is a fair purchase price?

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Old Nov 30, 2022 | 10:16 AM
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Default What is a fair purchase price?

Good morning/afternoon guys,

Serious inquiry here guys, I need some feedback! I put down a deposit for the LC convertible at a dealer near me. I live in SoCal, the MSRP for the 23 with touring package is around $114K. I had call another dealer about 2 hour away and they wanted $20K marked up which is in stock. What is/was everyone paying? What is a fair price? Thank you so much!

Last edited by Yamaheart; Nov 30, 2022 at 10:32 AM.
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Old Nov 30, 2022 | 10:39 AM
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Lately best I've seen is 1-3% under MSRP, but dealers are all over the place. I'm at MSRP or slightly below, but other dealers quoted $15-20k over and another was adding $10k wheel packages basically replacing the factory BBS forged wheels with lessor (~$2800/set) aftermarket ones and then reselling the OEMs.

New are in short supply and used are seeing close to MSRP at least for now. Also know some who were waiting for the LC-F and are now searching for '23s
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Old Nov 30, 2022 | 10:49 AM
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Originally Posted by Montare
Lately best I've seen is 1-3% under MSRP, but dealers are all over the place. I'm at MSRP or slightly below, but other dealers quoted $15-20k over and another was adding $10k wheel packages basically replacing the factory BBS forged wheels with lessor (~$2800/set) aftermarket ones and then reselling the OEMs.

New are in short supply and used are seeing close to MSRP at least for now. Also know some who were waiting for the LC-F and are now searching for '23s

Thank you so much for your help!
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Old Nov 30, 2022 | 11:35 AM
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Fair is whatever someone else is willing to pay...... But for me…..MSRP or lower.
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Old Nov 30, 2022 | 12:40 PM
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Paid MSRP for my 2022 convertible lc in Oct. Also received generous trade-in on my lc coupe. Dealor has a new 2022 white with red interior for sale he just got in . McDermott Lexus New Haven CT.
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Old Nov 30, 2022 | 12:55 PM
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CA is in a whole different ballgame when it comes to ridiculous dealer markups.
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Old Nov 30, 2022 | 02:10 PM
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Originally Posted by Yamaheart
I put down a deposit for the LC convertible at a dealer near me. I live in SoCal, the MSRP for the 23 with touring package is around $114K. I had call another dealer about 2 hour away and they wanted $20K marked up which is in stock. What is/was everyone paying? What is a fair price?
Did the dealer you put the deposit with give you a build date, estimated delivery date? I.e. is your deposit attached to a real car that they've either been allocated or that they've traded an allocation for? Just making sure that you didn't put a deposit down for a car that the dealer hasn't confirmed that they're getting yet.

Cars like the LC, when in stock, typically sell for less than MSRP rather than more. Simply because it represents a large loan for the dealership to pay on each month, and they want it gone. If that dealer wants to ask $20K over, I'm sure some sucker will walk in and pay it eventually. But I wouldn't.

Bought my '21 LC500 Convertible in October 2021 for MSRP. Put deposit on it in August, dealer told me October 1st delivery and wasn't far off.
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Old Nov 30, 2022 | 04:25 PM
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why buy 22, there is a LC Vert 23 at Belluve, WA Lexus for sale.
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Old Nov 30, 2022 | 05:02 PM
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Originally Posted by dknyov
why buy 22, there is a LC Vert 23 at Belluve, WA Lexus for sale.
I'm getting the 23, hopefully! Thank you!
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Old Nov 30, 2022 | 05:11 PM
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Originally Posted by jbuffett
Did the dealer you put the deposit with give you a build date, estimated delivery date? I.e. is your deposit attached to a real car that they've either been allocated or that they've traded an allocation for? Just making sure that you didn't put a deposit down for a car that the dealer hasn't confirmed that they're getting yet.

Cars like the LC, when in stock, typically sell for less than MSRP rather than more. Simply because it represents a large loan for the dealership to pay on each month, and they want it gone. If that dealer wants to ask $20K over, I'm sure some sucker will walk in and pay it eventually. But I wouldn't.

Bought my '21 LC500 Convertible in October 2021 for MSRP. Put deposit on it in August, dealer told me October 1st delivery and wasn't far off.
The dealership that I put the deposit down said that they have allocated 12 LCs, it's Penske Group! But who knows, it's a game these dealerships are playing, and thank you! I will not pay over MSRP!
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Old Nov 30, 2022 | 08:13 PM
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I paid MSRP in May for a 2022 convertible. I would not pay a penny over MSRP. It’s almost extortion and paying it leads them to continue.
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Old Dec 1, 2022 | 06:17 AM
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The best time to buy a car is the last week of the year. Stay in contact with these guys. Make an offer 3% under MSRP. If it's not sold in 3 weeks I bet they come back to you as they try to make year end goals.
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Old Dec 1, 2022 | 07:04 AM
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Originally Posted by azmojo
The best time to buy a car is the last week of the year. Stay in contact with these guys. Make an offer 3% under MSRP. If it's not sold in 3 weeks I bet they come back to you as they try to make year end goals.
That was my plan when I bought my 2021 Convertible. I closed the deal on Dec 23rd, 2020, car delivered cross-country on Jan 1.
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Old Dec 2, 2022 | 04:32 AM
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Originally Posted by Montare
Lately best I've seen is 1-3% under MSRP, but dealers are all over the place. I'm at MSRP or slightly below, but other dealers quoted $15-20k over and another was adding $10k wheel packages basically replacing the factory BBS forged wheels with lessor (~$2800/set) aftermarket ones and then reselling the OEMs.

New are in short supply and used are seeing close to MSRP at least for now. Also know some who were waiting for the LC-F and are now searching for '23s
Are you saying the 21inch wheels on the LC500 are BBS? I never heard that before?
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Old Dec 2, 2022 | 11:55 AM
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^^^^They are not!
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