Just signed up, so if this is the wrong forum, my apologies.

Looking for a CPO RX for the wife. I was not looking to spend around 30K. I have found one, however, that is more but seems to be a good deal.

2015 with 22K miles
List $34,500
Been on the lot for 3 months
Clean carfax

So I didn't want to spend that much so I emailed with the salesman a bit and they are not coming off the price. The manger emailed me and said he has $35,500 and they are going to sell for a loss (seems unlikely). Anyway is this a deal I can't pass up even though it's a little more than I wanted to pay. I am in TX and most of the 2013 and 2014 with 30-45K miles list around $30-33K.

 

Forgot to add they list it as a premium package i the info they sent me but not on their webpage. Looks like trade in value is a touch under $30,000 so they either overpaid or the CPO from lexus is quite expensive or likely both.

 

Generally CPO increases price by 2-3K $. My '15 Hybrid CPO with 14K miles on the clock is literally covered for everything until '19 as far as maintenance goes. TBy then I'll trade for another one. I almost never buy brand new vehicle.

 

looking at edmunds (I can't figure out how to add the premium package) they list dealer retail as $30,000 and $32,000 CPO. I think I would guy sign right now if I could get it for $32,000. Seems like with the options it is a very good price. Im surprised it has sat on the lot so long.

 

Price varies by region too. Maybe that RX has wrong color? My family always drive silver or white cars.
Also Carfax is not bullet proof document.

 

if they say they are losing money on it, that is highly suspicious, and their problem. I don't know what actual options are on the car, but I suspect the new selling price was around $54K

I don't know how much "dealing" experience you have in automobiles. A dealer will virtually NEVER discuss a lower price with you unless you are standing in front of them, with proof of finance ability. Dealers correctly consider email and phone conversations to be BS, and they are no more apt to commit to a lower price over than phone, or in email, than they are to give the car away for free.

I recommend you get a pre-purchase loan approval for the amount you can live with. Go to the dealer, and make an offer that you feel is fair. Don't show him how much you can borrow, but let him know you are pre-approved. If he wants to hold onto the car for a better price, then you have a choice.

Even at $35K, it sounds like you are getting about 35% off new price for a vehicle that only has 22K miles, and still has 28K miles on the warranty. It may not be a bad deal at all, though there are probably better deals out there.

 

A dealer will never lose money. They aren't in the business to lose money. That is an old sales tactic.

 

Good information. I have purchased 2 cars, and I am by no means an expert. I have been doing quite a bit of research as I am older and wiser since my last purchase. I tend to hold my cars for quite some time. I do have a loan secured already. I was under the impression that times have changed since my last purchase and you could do the majority of a deal through email, perhaps I am mistaken. We have moved on from this one. We are looking at a 2014 premium with 35K miles. List is 32,900. I think that is fair. We are in no rush so we test drove and offered 30,500 and they balked. I think I can get it for 31,500 and that seems like a solid deal, but I am not positive.

 

my assumption as well. It was just strange he listed it down to the penny he "had in it".

 

Remember now we are at year end. Sometimes the salesman or manager has some incentives to meet. For example, maybe that salesman is "just one more" sales to clock in to reach the "next level" or for him to be "salesman" of the year or whatever. Or simply the dealer is located in an area where space is a premium and he has lots of incoming new or trade in's coming in and quickly running out of space. Whatever the reason, now is the time to buy.

Remember in the negotiations game once you give the salesman a price, you CAN NOT go lower usually . You CAN only go up in price. I have done the following before where I make an offer I would buy right on the spot if accepted. But my offer got rejected. So I write my name and number and today's date with a price I just offered for the year and model ON THE BACK OF THE SALESMAN's business card and give it back to him. I would tell him that I am now going to another dealer to look for my dream car. In the meantime, please feel free to call me if you are ready to deal. Also make it clear to them that either you already got the loan approval or the cash to buy right now so they know you are serious..

I did this for my Lexus CPO L CERTIFIED RCF. I did it at a Lexus dealer in the morning and went on to another dealer a couple of hours away. By 3pm as i was signing the paper work for my RCF, the first Lexus dealer where I was earlier in the morning called me and says he is willing to meet my price. But I told them it is too late.

 

Game is to be outsmart sales guy. I never deal with dishonest kind. When I go in to make a deal, I am ready to sign the paper and pay cash in full. So I can drive new car home leaving my traded in old car. But I won't tell how I am going to pay until deal is reached... Also I have a list of extra things I want. In my city bad thing is high end car
dealers are owned by one owner; Lexus, BMW, Audi, Infinity, etc. kind of monopoly. Now is good time to make a deal for sure.

 

Sometimes there are things happening in the back we are not aware of. Maybe the owner/manager on the 91st day of having that particular car decides to "really move" it, hence heavy discount (nothung wrong with the car, just sitting there too long). Or the dealer wanted to achieve some quota fir the year /month type of thing. Or says I can only give you more discounts if you finance the car (bc the dealer get an incentive for arranging the loan). So if the terms of the loan is "excellent " and the price is "excellent " too, so why not? One can always pay off the entire loam off a few months later (usually with no penalty. Just read the fine print).

So all good. One thing for sure, the prices we pay for these type of cars are one of the lowest in the world. An exact same car will cost a lot more elsewhere around the world. So just make the best deal you can and ENJOY the car. Happy Holidays ☺☺☺☺

 

Also better be there in person to have an eye ball meeting with sales guy. Via email, phone conversation does not do much. They think your just another tire kicker. Go there and show you are serious
to make a deal fully prepared.