I'm looking at a dealer certified pre-owned 2007 LS 460 standard wheel base with 31k on it for $43,281. The car has nav, Levinson, comfort package, and automatic rear sunshade. Is that a decent price from a dealer? If not, what is? Any suggestions on websites where I could go to calculate a price? Any help would be deeply appreciated. Thanks

 

That price seems high. Go to edmunds.com and click on "used cars" and enter all the car info. That will give you a good idea on what you should be paying.

 

Nospin,
Thank you for your very prompt and thoughtful reply. The Edmunds is a bit confusing (at least to a novice like me). It lists the "dealer retail CPO" at $44,934 and the regular "dealer retail" at $41,715. By this measure I guess $43,200 is below the Edmunds' CPO price yet still feels high to me as well. Anyplace else I should look? Other views and experiences? Thanks

 

Well, I just took a guess that it seemed high. If that's what you got from Edmunds, then they are certainly more accurate than me!

For second and third opinions, go to nadaguides.com and kbb.com.

 

Nospin,

I paid $38,050 with 36k miles with same options as you have mention about
three weeks ago.

 

Noko, the above is closer to the bottom line price of a 2007 CPO. Dealers price cars higher for trade-in purposes mainly for a psychological edge to cause the buyer to believe they are getting more money for the vehicle being traded in. If the vehicle you are looking at is in excellent condition, it probably has a bottom line price of 38,500 to 42,000 depending upon the size of the dealer and demand in your area. I just purchased a 2008 CPO so I did a considerable amount of research using Edmunds, NADA, Kelly Blue Book and others. I included 2007 year during my research. If you are trading in a vehicle, you can reduce the price of that Lexus by around $2500 or more to determine how much the dealer is allowing you for your car. If you are fully satisfied with the condition of the vehicle including service and repair records which you can request and are not trading in a vehicle, I recommend negotiating with your starting price in the 38500 to 40000 range. You can also go the Lexus.com and conduct a search for other dealers in your area and look at how they are pricing similarly equipped 2007s. Hope this helps.

 

Noko, it sounds about $5k-6k high for the North Texas market. Not sure how that relates to where you are.
I also looked at prices from NADA and Kelly. Make sure you're looking at the retail and not the trade-in values. Then add $2500 for CPO.

 

THANKS guys, very helpful!

 

I paid 35,500 for about the same equiptment and 41000 miles without CPO last Dec.
If you have sometime left on the 4 years the millage would give you time to check out warranty issues.

 

Noko,

I bought a 2007 LS 460 with NAV/ML and self park (Im not sure what package that is) but no air ride with 41k on the ODO in Sept 2010 CPO from my local lexus dealer. They stickered it back then at $42,900, but I talked them down to $37k out the door with the CPO warranty. If your looking now, it should be substantially cheaper. Good Luck.