salesguy

My 2007 ES350 has served me well (166k miles) but it's time for something with more luxury.

I've been looking at Carmax, and some of the Lexus CPO listings.

Is there consensus as to the best way to acquire a used (but still under warranty) LS?

Does Lexus discount CPO cars if you look to drive a harder bargain?

Any other reasonable options like auction, or buying sight unseen elsewhere?

Thanks!

Dr. Jekyll

iTrader: (1)

Short answer is no. You can find great cars at the dealer, on the side of the road with a sign, on Craigslist etc.

Lexus most definitely discounts CPO cars.

Never buy sight unseen but c'mon, that's common sense right?

jrmckinley

There are lots of opinions on the value or lack thereof when it comes to CPO - all of which have been discussed on this forum. Based on what you're going to spend when you look at a '13 or newer LS, I personally would sleep better buying one CPO from Lexus. On top of that, prior to buying it I would take it by a body shop and have them do an inspection to see if it has been wrecked - and if so, how badly (minor bumper replacement wouldn't concern me much). And you can definitely negotiate CPO cars- I drove a hard bargain on our LX570 CPO. I think you would overpay at Carmax from my experience of seeing what they offer in my state.

FWIW, I am going through something now withmy LX570 that I don't think would have been covered if I would have purchased an after-market 3rd party warranty. The CPO is $0 deductible and covers a ton of stuff. As these cars get more high-tech I personally feel better knowing I have CPO coverage (my repair will be somewhere in the range of $4k- typical value associated to CPO seems to be around $2k). Others will disagree with me and have valid arguments, but my personal experience has me lean towards paying for CPO.

salesguy

Point taken on CPO.

But regarding pricing, maybe I'm missing something but CPO LS's seem to be priced well higher than carmax.

For example, this 2014 LS460 with 33k miles is $59k

Carmax has this 2014 with 22k miles for $50k

Every one I've looked at is $5-10k cheaper at Carmax.

How much off the listing price of a $59k CPO would I expect from the dealer? I've only bought cars private party and from Carmax, never direct from Lexus.

Thanks all - can't wait to upgrade to an LS!

comotiger

You are comparing cars with different equipment and options. First of all, the CPO car is way overpriced (my first thought is it can be had for 52K). There are plenty of better listings on cars.com and cargurus.com. Second, the CPO is LWB, and likely has air suspension. The Carmax car is neither. Exterior and interior color also make a difference, although maybe not in this case. You should do your research by making a short list of cars you are interested in, getting the NADA and KBB retail values and going from there.

Dr. Jekyll

iTrader: (1)

Have you ever tried researching and using references like Kelly Blue Book? That would give you a good idea of a car's value.

jrmckinley

Agree that the red 2014 is insanely overpriced (although it is an "L" which commands a premium). I live in FL and a Lexus dealer here has a 2014 black F Sport certified with 17k miles for $55k. That's lower miles and certified compared to the CarMax one. You can't negotiate CarMax, but you could negotiate on this one to close the gap a little.

Be patient and look around and you'll find the right fit. Also, totally agree on checking out KBB and NADA to get an idea of trade-in, private party, and retail values now so you can quickly skim prices to identify the outliers.

salesguy

Geez - though love around here. That's ok, I can handle it.

What i didn't realize is lexus CPO vehicles are listed all over the place, not just on the lexus CPO site. Thanks for the heads up.

Thanks for the comments, since I'm not in a hurry I can wait for the right car then pounce.

Now I just have to decide if I want the L or not. Sure would be easier to load up my 2 yr old daughter in the back. Not sure how many car seats these LS460s see!

jrmckinley

When I was looking, I had a very specific criteria (year range) I was looking for - I would go on Autotrader and filter by the years I wanted and then select "any distance" - that lets you see everything across the country as opposed to things within your town (I think it defaults to 25 miles from your zip). For you, maybe you select 2013 and 2014 years, see what pops up so you can get an idea of pricing nationwide and what "feels" right for a price as you see the range of mileage by year. Then you can filter deeper by color and by "private" or "dealer" as the seller type. I also looked on eBay just to get a better feel for more of the wholesale market and pricing - there are 2 places out of Texas that move an insane # of vehicles (not just Lexus) that have 100% feedback. I would have felt comfortable buying something from them (my father-in-law did about 2 years ago- beautiful car, no issues). My recommendation is start by casting a wide net (nationwide search of 2013 and 2014) - it won't take long for you to understand what you think is a fair asking price. Then look at eBay to see wholesale prices and use all of that plus a KBB and NADA value to the table when negotiating.

Also, the L is 5 inches longer in the back which will prevent your daughter kicking your seat for quite a while... I have twins and that was absolutely something of interest when I was kicking tires. Just make sure it will fit in your garage..! Also look into the air ride- I think that comes standard on the L (not sure) - and while I have read on here it offers a better ride, it can be costly to repair/replace if/when something goes wrong.

salesguy

Excellent feedback, thanks. Since my daughter isn't 2 years just yet, she isn't facing forward yet.

I checked my garage and I have at least 18" of space over where my ES350 sits, so no problem at all.

I did exactly as you suggested with Autotrader, but also with cars.com and carguru

I did see a bunch in Texas - so you are saying you'd buy without driving from those guys? I'm totally fine with that, assuming the warranty is in place and the seller is a high volume reputable seller. I didn't realize ebay was more like wholesale. Good to know.

My criteria are simple: 2013/2014 with less than 50k miles (so warranty). Parchment interior, white exterior. Flexible on options, though I'd prefer most/all of the goodies.

Was the texas shop this one?
http://stores.ebay.com/Texas-Direct-...p2047675.l2563

GR6RR

Go for the LWB, I regret not doing so...
My youngest daughter loves my car, she calls it Fancy.

jasone36

For what it's worth, you'll find the "parchment interior" LS460's to generally be less costly than other interiors.

That's what I found during my search... typically most folks want an interior where the stains aren't easily visible, so they don't shop for "parchment interior", as a result the prices may be a bit lower.

vfr700f2

You definitely need to shop multiple dealers. The place we got our CPO RX was asking at least $5K less than other nearby dealers on essentially identical cars. Whether you shop at the dealer with better prices or just use them to beat down a higher-priced dealer is up to you. I prefer shopping where they start out at a decent price; we didn't even visit the higher-priced stores.

I haven't shopped Lexus on Carmax, but their prices for other things I have looked at are noticeably higher than typical for franchised dealers, independents and private parties.

I would not buy anything without seeing it and driving it, and if you intend to own it outside of warranty, I would absolutely recommend paying for a thorough expert inspection. Finding someone who will check out a car as completely as if it were their own $50K being spent is something else entirely... Invest in the travel time (if out of town) and inspection cost, or take your chances...

jrmckinley

Yes that's the eBay seller that I was referring to. My father-in-law bought a nice LS from them. For clarification, it's not that eBay in general is more like wholesale- it's that there are some huge dealers there who sell very close to wholesale prices (the guys you found fit in that category). I would probably want to see something in person before dropping $50-$55k but that's just me. You should also register here so you can start looking up VIN's to see Lexus service history as you find cars of interest to you. http://drivers.lexus.com/lexusdrivers/history Good luck in your search.

Tantrix

I wouldn't pay more than 35k for the LS. the body style is just a cosmetic upgrade compared to the 2007, mainly the front bumper and inteior. The body styling itself is getting very dated unless you mod it with some nice jdm wheels and a nice drop.

for 35k you can get a 2015 hyundai genesis 5.0 ultimate fully loaded, I think a new one at that.