Opinions on selling price for my 11' LX
04-08-16, 09:32 AM
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Opinions on selling price for my 11' LX
Within the next month I'll be putting my LX 570 up for sale, it will have about 91,000 miles by then and all maintenance taken care of. I was hoping to ask 39-40k for it. Does this sound reasonable or am I setting my hopes to high? Never have had any trouble with it, interior is flawless, exterior has the usual minor marks, newer tires and brakes. Any advice would be great if anyone has sold one before. Thanks
04-08-16, 11:11 AM
#2
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Within the next month I'll be putting my LX 570 up for sale, it will have about 91,000 miles by then and all maintenance taken care of. I was hoping to ask 39-40k for it. Does this sound reasonable or am I setting my hopes to high? Never have had any trouble with it, interior is flawless, exterior has the usual minor marks, newer tires and brakes. Any advice would be great if anyone has sold one before. Thanks
What's the rust, if any, look like if you crawl under the truck with the skid plates removed?
Rust is a major deal-killer in my experience.
04-08-16, 04:58 PM
#5
For a private party sale $40K is too high. I'm a Lexus dealer and I'd price it at $36,995 if I owned it.
As a reference, Lexus of Westport has one with 80K on it for $37,800 and a BMW dealer in south NJ has one for $37K with 99K.
I would suggest somewhere around $36K, take $35K or better. It's a $31-33K vehicle wholesale assuming it's clean and depending on color and equipment. So if trade-in is, say, $32K that's close to $34K with sales tax credit assuming, say, 6%.
As a reference, Lexus of Westport has one with 80K on it for $37,800 and a BMW dealer in south NJ has one for $37K with 99K.
I would suggest somewhere around $36K, take $35K or better. It's a $31-33K vehicle wholesale assuming it's clean and depending on color and equipment. So if trade-in is, say, $32K that's close to $34K with sales tax credit assuming, say, 6%.
04-09-16, 08:00 AM
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32k!!!? Haha, hence why I am not trading it in. Dealers low ball it big time, I traded my MDX in and they offered me 12k. I said no way, got them up to 14k and they said they will probably not make any money off of it. 2 weeks later I found it online for 21k SOLD!!!! You don't find to many of these vehicles for sale and from what I've noticed they go pretty quick. Prices for LX seem to be all over the place, and from what another dealer said some color options are less desirable and affect the price. I did an Autotrader quote and took it to a dealer and they offered 37k, unfortunately found no vehicle to trade up too. I'll probably start at 38,999 and see where that gets me, I'm in no hurry to sell it so I can be patient.
04-09-16, 04:18 PM
#7
As I said, depends on the color and equipment.
Green/Blue/Gray/Red etc No ML or DVDs? $31K.
ML, DVDs, super clean, White/Parch? $34K easy.
At $37K I would take the money and run. That's retail. On the other hand, the RIGHT LXs bring damn near retail at auction from the Middle Eastern buyers. A friend of mine simply buys every light colored one that's clean. Period.
So what color is yours? Does it have Levinson? DVDs? Luxury Package?
To figure out what you can sell a car for, it's simple:
Look on cars.com and autotrader.com See what the cars are being advertised at. For a common car, go in a 50 mile radius, for a 2003 M3, go 500+ miles. Forget KBB, NADA, Etc... Look at the market and see what they're being advertised for. If there's comparable cars like yours out there for $37K from a dealer then I would not suggest $38,995. What happens is that people won't even contact you. When I sell my personally owned cars as a private party (I do pretty regularly) I try to be $1,000-1,500 behind what dealers are advertising comparable cars for.
Understand that as a dealer I basically have 30-40 days to sell the vehicle at a profit and I have to service it and stand behind it hence I can get a little more than a private party. The last out of warranty LX that I sold lost it's starter a week after I sold it. That was a grand that I ate. Meanwhile I had spent $1400 servicing it before I even rolled it. A private party would likely not pay that as they would have no obligation to do so.
LXs are very fickle, sometimes they sit and rot (Color and equipment) and sometimes they move quickly. I sell 3-4 a month and on average they're one of my slowest moving vehicles. I have 3 on the lot as we speak.
Green/Blue/Gray/Red etc No ML or DVDs? $31K.
ML, DVDs, super clean, White/Parch? $34K easy.
At $37K I would take the money and run. That's retail. On the other hand, the RIGHT LXs bring damn near retail at auction from the Middle Eastern buyers. A friend of mine simply buys every light colored one that's clean. Period.
So what color is yours? Does it have Levinson? DVDs? Luxury Package?
To figure out what you can sell a car for, it's simple:
Look on cars.com and autotrader.com See what the cars are being advertised at. For a common car, go in a 50 mile radius, for a 2003 M3, go 500+ miles. Forget KBB, NADA, Etc... Look at the market and see what they're being advertised for. If there's comparable cars like yours out there for $37K from a dealer then I would not suggest $38,995. What happens is that people won't even contact you. When I sell my personally owned cars as a private party (I do pretty regularly) I try to be $1,000-1,500 behind what dealers are advertising comparable cars for.
Understand that as a dealer I basically have 30-40 days to sell the vehicle at a profit and I have to service it and stand behind it hence I can get a little more than a private party. The last out of warranty LX that I sold lost it's starter a week after I sold it. That was a grand that I ate. Meanwhile I had spent $1400 servicing it before I even rolled it. A private party would likely not pay that as they would have no obligation to do so.
LXs are very fickle, sometimes they sit and rot (Color and equipment) and sometimes they move quickly. I sell 3-4 a month and on average they're one of my slowest moving vehicles. I have 3 on the lot as we speak.
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04-13-16, 07:05 AM
#8
I've been in the market for an SUV for a few months now and I would not pay more than $34-35k for OP's LX. Regardless of color.
You do mention that you are in no hurry to sell, but also take into account - most who buy there vehicles, are in no hurry to buy.
Not trying to bash in any way or discourage you, but that's what I've observed after looking at other LX's. As another poster mentioned, I can get one from a dealer for $37k, so private party I'd expect to pay a few grand less.
If you can get $37k for it - take the money and run.
You do mention that you are in no hurry to sell, but also take into account - most who buy there vehicles, are in no hurry to buy.
Not trying to bash in any way or discourage you, but that's what I've observed after looking at other LX's. As another poster mentioned, I can get one from a dealer for $37k, so private party I'd expect to pay a few grand less.
If you can get $37k for it - take the money and run.
04-13-16, 09:23 AM
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i've been in the market for an suv for a few months now and i would not pay more than $34-35k for op's lx. Regardless of color.
You do mention that you are in no hurry to sell, but also take into account - most who buy there vehicles, are in no hurry to buy.
Not trying to bash in any way or discourage you, but that's what i've observed after looking at other lx's. As another poster mentioned, i can get one from a dealer for $37k, so private party i'd expect to pay a few grand less.
If you can get $37k for it - take the money and run.
You do mention that you are in no hurry to sell, but also take into account - most who buy there vehicles, are in no hurry to buy.
Not trying to bash in any way or discourage you, but that's what i've observed after looking at other lx's. As another poster mentioned, i can get one from a dealer for $37k, so private party i'd expect to pay a few grand less.
If you can get $37k for it - take the money and run.
04-13-16, 01:53 PM
#11
04-14-16, 01:26 PM
#12
OP got ALL the money. Let's call it very well sold.
As iBoost said, $31-33K wholesale and I think 38-40 dealer retail is a tad high; personally pricing it that high would make me a tad nervous, OTOH once I have a car 45 days it's GOTTA go.
As iBoost said, $31-33K wholesale and I think 38-40 dealer retail is a tad high; personally pricing it that high would make me a tad nervous, OTOH once I have a car 45 days it's GOTTA go.
04-14-16, 02:28 PM
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