NXOwner

So, I get a letter from a local Lexus dealer stating that they have been "authorized" to buy back 2005 RX 330s like mine. They have to buy back a certain number of them and they will pay "above market value". This "event" is "not being advertised to the general public", and a list of days for this event is in the letter.

Is this a standard marketing ploy just to get me to buy a new Lexus?


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steiner

Since this is my first Lexus, I am not sure. However, I had received numerous similar offers from Acura in the last 10 years.

Bottomline: They wouldn't do anything to benefit YOU.

CK6Speed

iTrader: (1)

It is common practice among many dealers, not just Lexus. Their idea of market value may not be your idea of market value. Not only that, they really just want you to come into the dealership with the hopes of you walking out with a new car. Chances are, if you do sell back your car to the dealership, you will probably need a new car. Guess what? The dealership just so happens to be able to apply that money they gave you on a new car they have Anyway, these types of letters have been common practice for decades. It doesn't hurt to check it out if you were thinking of selling your car and getting a new one anyway, but just keep that in mind.

AM1

iTrader: (6)

gimmickssssssssssssssssssssssssssssssssssssssssssssssssssssssssss

mandyfig

More money in their pocket...less on yours....

salimshah

I doubt if this specific authorization is from Lexus of NA. It seems a joint marketing gimic from the Used and the new car sales of the dealership.

Salim

NXOwner

I figured it was (some sort of a marketing campaign). The funny thing about all this is that I just bought my CPO '05 about four weeks ago and now they want to buy it back? LOL!!


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salimshah

The good thing about buying used vehicles is that you can sell them at 95-105% of purchase price in within few weeks. Try that with a new vehicle.

Since you bought it from the daler, the 95% is more likely I think they just got your address in the mass mailer programme.

Salim

tfischer

Any dealer can buy any car he wants. He doesn't have to be "authorized" for this. This is just a common promotional tool to get owners to trade in older cars for new ones.

If you have time on your hands, tell him you want to be sure that this deal is "authorized," and ask to see the "official" letter from "Lexus" giving his dealership the "authority" to purchase 2005 RX330s, because you want to be sure that your transaction falls within the parameters of the program.

The dealer will stop bothering you.

I must say, however, I have purchased 3 Lexus autos over the years, and when I go to them, they are among the best, most courteous and most knowledgeable car salesmen in the business. I do get tired, however, of their efforts to get me to come in for a deal before I am ready. Let's hope I can remain strong.

Grumpa72

Two thing come to mind:
1. the dealer wants to increase his inventory so that he has new and used RXs in all flavors - one year old, two years old, etc.
2. by trading in your 2005 you fulfill #1 AND he can then sell you a new one.

Gary

mandyfig

If you can turn this sitaution around to favor you instead of them, then you have won. You need to know how much is good enough.

The G Man

If I get a nickel for each time I get one of those letter, I be a rich man.

mandyfig

Marketing $$, that's where the money's going...not value added.

The G Man

Exactly, and since when is a dealer not authorized to buy back your trade in.

umpalumpa

just got the new 350 after trading in the 05 330 7 months early (lease). they told me about this about a year ago...supposedly lexus will offer certain customers 6months payments on leases to take thier cars. they called me 6 months later and said we were good to go. LEXUS took the car, not the dealer, so there could be some truth to this. i know this because my car had some damage that was repaired and the dealer didnt want it due to possible frame damage.