Hello everyone,

I am new to this forum and have never owned a Lexus before

I am looking into a used/CPO LS 460. I have a long daily commute and average annual miles will be between 25 to 30K. It is the most comfortable car I have ever driven when I test drove it. I have found a CPO 2016 model for a little above 37K. exactly at the KBB price. Dealer is not willing to negotiate the price. The dealer is offering 5 year extension of the CPO warranty for 6000 dollars. The car is 54K miles on it and is serviced at the dealer.


Is this a deal worth looking into or should I wait and look for a better deal

 

I am lost. Does it have 37k or 54k miles on it?

 

price is 37K. Miles are 54K

 

Your annual mileage usage makes it pretty difficult. Because the value of any car you buy is going to tank very quickly. Would you ever consider a higher mileage lower priced CPO if you can find it? I would look into it especially if you are financing the vehicle or you could end up upside down quickly. The one good thing is the CPO extension is unlimited miles or at least it was when I did mine. So you could be driving an LS with 250K miles on it and still have a warranty which is worth something but it doesn't cover wear and tear items like most warranties.

 

Based on your driving pattern, you'll have over 100K miles in 2 or less years. Don't buy the car for resale value because the mileage will dictate price. I'd keep looking until you find the right one for you.

 

The way I was thinking was that with the 2 year CPO plus 5 year extension even with 30 k miles per year would take care of any major breakdown.

But i am not sure what any routine msjor maintainence costs would be. The dealership ssid oil changes due every 10k miles and tire rotation 5 k miles.
the monthly gas will be around 325 a month for the number of miles at current gas prices

Is 6k for the extension of warranty a predictable price or too high. Is 37k for the miles on the car a good price or can a better deal be obtained elsewhere.

I was thinking of the LS because of the comfort of the car if i am going to be in it 2 hours a day which is highway miles only. But still 2 hours. And it is big enough to do decent in the snow as well.

I am okay with a higher mileage cpo with a lower price if the warranty extension can be done. As I persinally do not know much about fixing cars

 

The $6000 for the warranty seems high. Keep in mind this is negotiable. So if they won't bend on the car, tell them they need to give you a break on the warranty. And one other thing, read that warranty very carefully, particularly for the things it doesn't cover lest you get an unpleasant surprise.

 

$6000 for the 5 year CPO warranty extension is highway robbery. Call the finance manager at Lexus of Shreveport - he should be able to sell it to you for around $2500.

Definitely get the warranty - it's unlimited mileage!

 

Well, a meticulous maintained one owner vehicle I'll take any day.
I never do extended warranties, it's all up sells to me. I wouldn't do it, these cars go and gooooo.

But I have to mention my brother bought it for his Cadillac and with the cost of the engine job, it turned out to be a wash.
The LS doesn't have this issue.

 

+1 to this. Toyota of Shreveport (i believe its Terry Johnson) can sell you the same CPO. I bought one from him for my GS350 for 60% off what the dealership offered me.

 

Extended warrantes are always a ripoff, It has to be in thier favour.