2016 CPO rx350 good deal?
10-20-17, 04:51 PM
#1
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2016 CPO rx350 good deal?
does anyone if this is a good deal or a semi average deal? 2016 CPO rx350 awd premium package with 17k miles for 41k before taxes.
10-20-17, 05:07 PM
#2
It's all up to your budget. I got a quote for a brand new 2017 RX 350 Premium (MSRP $52,519) for $44K before tax. With $3K more, you can enjoy the fresh smell of new car, a year newer and 0 mile on the ODO.
10-20-17, 06:01 PM
#3
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One to two year old CPO vehicles tend to be among the worst buys available for a Lexus.
Demand for them is high because there are lots of people who believe (mistakenly) that they can buy an "almost new" CPO vehicle at substantial savings. At the same time, the supply of those 1-2 year old CPO vehicles is small because not many of them have yet come back to dealers as trade-ins or lease returns. The combination of high demand and low supply leads to high prices, and, when the $2500-3000 premium is added for the CPO inspection and warranty, the prices of those CPO vehicles can rise to levels close to or, at times, even higher than what a brand new similarly equipped vehicle could be bought for.
When I was buying my new 2017 ES, the dealer had 2 similarly equipped 2016 CPO ESs on their lot, and their asking price for those used 2016 cars was right about what I paid for my new 2017, and the dealers tend not to be willing to negotiate much on price for CPO vehicles because they know that, eventually, someone who doesn't know how much discounting is available on new vehicles will come along and pay their asking price or very close to it.
Similarly, if you check the inventories at Lexus dealers, you will be likely to find some 2017 CPO vehicles that are actually priced a few thousand dollars more than the price for which you could buy a similarly equipped brand new 2017.
The bottom line is that, if you do your homework and have a good purchasing strategy, you likely can buy a brand new RX for very close to the price of a similarly equipped 2016 CPO RX.
Demand for them is high because there are lots of people who believe (mistakenly) that they can buy an "almost new" CPO vehicle at substantial savings. At the same time, the supply of those 1-2 year old CPO vehicles is small because not many of them have yet come back to dealers as trade-ins or lease returns. The combination of high demand and low supply leads to high prices, and, when the $2500-3000 premium is added for the CPO inspection and warranty, the prices of those CPO vehicles can rise to levels close to or, at times, even higher than what a brand new similarly equipped vehicle could be bought for.
When I was buying my new 2017 ES, the dealer had 2 similarly equipped 2016 CPO ESs on their lot, and their asking price for those used 2016 cars was right about what I paid for my new 2017, and the dealers tend not to be willing to negotiate much on price for CPO vehicles because they know that, eventually, someone who doesn't know how much discounting is available on new vehicles will come along and pay their asking price or very close to it.
Similarly, if you check the inventories at Lexus dealers, you will be likely to find some 2017 CPO vehicles that are actually priced a few thousand dollars more than the price for which you could buy a similarly equipped brand new 2017.
The bottom line is that, if you do your homework and have a good purchasing strategy, you likely can buy a brand new RX for very close to the price of a similarly equipped 2016 CPO RX.
10-20-17, 07:22 PM
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One to two year old CPO vehicles tend to be among the worst buys available for a Lexus.
Demand for them is high because there are lots of people who believe (mistakenly) that they can buy an "almost new" CPO vehicle at substantial savings. At the same time, the supply of those 1-2 year old CPO vehicles is small because not many of them have yet come back to dealers as trade-ins or lease returns. The combination of high demand and low supply leads to high prices, and, when the $2500-3000 premium is added for the CPO inspection and warranty, the prices of those CPO vehicles can rise to levels close to or, at times, even higher than what a brand new similarly equipped vehicle could be bought for.
When I was buying my new 2017 ES, the dealer had 2 similarly equipped 2016 CPO ESs on their lot, and their asking price for those used 2016 cars was right about what I paid for my new 2017, and the dealers tend not to be willing to negotiate much on price for CPO vehicles because they know that, eventually, someone who doesn't know how much discounting is available on new vehicles will come along and pay their asking price or very close to it.
Similarly, if you check the inventories at Lexus dealers, you will be likely to find some 2017 CPO vehicles that are actually priced a few thousand dollars more than the price for which you could buy a similarly equipped brand new 2017.
The bottom line is that, if you do your homework and have a good purchasing strategy, you likely can buy a brand new RX for very close to the price of a similarly equipped 2016 CPO RX.
Demand for them is high because there are lots of people who believe (mistakenly) that they can buy an "almost new" CPO vehicle at substantial savings. At the same time, the supply of those 1-2 year old CPO vehicles is small because not many of them have yet come back to dealers as trade-ins or lease returns. The combination of high demand and low supply leads to high prices, and, when the $2500-3000 premium is added for the CPO inspection and warranty, the prices of those CPO vehicles can rise to levels close to or, at times, even higher than what a brand new similarly equipped vehicle could be bought for.
When I was buying my new 2017 ES, the dealer had 2 similarly equipped 2016 CPO ESs on their lot, and their asking price for those used 2016 cars was right about what I paid for my new 2017, and the dealers tend not to be willing to negotiate much on price for CPO vehicles because they know that, eventually, someone who doesn't know how much discounting is available on new vehicles will come along and pay their asking price or very close to it.
Similarly, if you check the inventories at Lexus dealers, you will be likely to find some 2017 CPO vehicles that are actually priced a few thousand dollars more than the price for which you could buy a similarly equipped brand new 2017.
The bottom line is that, if you do your homework and have a good purchasing strategy, you likely can buy a brand new RX for very close to the price of a similarly equipped 2016 CPO RX.
thanks for the tips, dang wish i asked this thread before we purchased. but i guess at 41k i cant complain i feel like thats just a little higher than a used rx350 with same specs but non cpo.
edit above: its the luxury package and not premium. not sure if that makes a difference in pricing comparison
Last edited by taimysho0; 10-20-17 at 07:29 PM.
10-21-17, 03:54 AM
#5
Pole Position
I think you got a good deal. Don't know where in CA you live so I picked LA and did a 500 mile radius on Autotrader for a certified 2016 with AWD. There were 14 with and average price of $46,000 and a low of $42,000. Figure one could bargain down $3,000 from these so leaving $43,000 for the average price. Done so just enjoy it.
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